Have you ever wondered how your super compares with people your age? Use this guide from the Association of Superannuation Funds (ASFA) to see if your super is on track with the average account balance across your age group and gender.
Ever wondered if your retirement nest egg is on track? You’re not alone As we approach retirement age, that nagging question becomes more urgent “Do I have enough super to retire comfortably?”
Let’s cut through the noise and look at the actual numbers for Australians turning 65.
The Hard Truth About Super Balances at 65
According to the latest data from Rest Super (as of August 2025). here’s what the average Australian has in their superannuation at age 65
- Women: Approximately $340,000
- Men: Approximately $404,000
These figures are based on averages between the 60-64 and 65-69 age brackets, giving us a reasonable estimate for the typical 65-year-old.
But here’s where it gets concerning…
The Gap Between Reality and “Comfortable”
The Association of Superannuation Funds of Australia (ASFA) says a single person needs around $595,000 at retirement age for what they call a “comfortable” retirement. For couples, that figure jumps to about $690,000 combined.
That means the average Australian is falling significantly short:
- Women are roughly $255,000 behind the comfortable target
- Men are about $191,000 behind the comfortable target
Yikes.
How Do You Compare? Super Balances By Age
To give you a clearer picture of how Australians are tracking at different life stages here’s a breakdown of average super balances by age
| Age Group | Men | Women |
|---|---|---|
| 15-24 | $6,500 | $5,100 |
| 25-34 | $42,100 | $34,500 |
| 35-44 | $107,700 | $76,900 |
| 45-54 | $219,300 | $136,000 |
| 55-64 | $326,200 | $246,300 |
| 65-74 | $435,900 | $381,700 |
| 75+ | $370,900 | $314,100 |
Source: Australian Bureau of Statistics (ABS), Household Income and Wealth, Australia 2019–20
Look at that gender gap! It’s not just at 65 – women consistently have lower super balances throughout their lives, with the gap widening during prime working years.
What You Should Have vs. What Most People Have
The stark reality is that most Australians are behind where they should be. Here’s what ASFA’s Super Balance Detective suggests you should have at different ages for a comfortable retirement:
| Age | Target Super Balance |
|---|---|
| 25 | $26,000 |
| 30 | $66,500 |
| 35 | $111,500 |
| 40 | $168,000 |
| 45 | $226,000 |
| 50 | $296,000 |
| 55 | $377,000 |
| 60 | $469,000 |
| 65 | $571,000 |
Compare these targets with the actual averages, and you’ll see most Australians are falling short at every age.
Why Are Women’s Super Balances Lower?
It’s not just a random coincidence that women have lower super balances. The reasons are structural:
- Career breaks for raising children
- Higher rates of part-time and casual work
- The persistent gender pay gap
- Earlier average retirement age
According to Super Consumers Australia, “the super balance gap between pre-retiree men and women is an astonishing 42 per cent.” This isn’t just a minor difference – it’s a significant disadvantage that accumulates over a lifetime.
What Does “Comfortable” Retirement Actually Mean?
When ASFA talks about a “comfortable” retirement, they’re not describing luxury yachts and champagne. They’re talking about:
- Being able to afford private health insurance
- Owning a decent car
- Having new clothes when needed
- Being able to run household heating and cooling
- Occasional dining out and social activities
- Some domestic and international travel
In other words, a retirement where you’re not just scraping by on the basics, but can enjoy some quality of life.
Why Are So Many Australians Behind?
A survey of more than 6,000 Australians revealed:
- 63% aren’t sure they’ll have enough super by retirement age
- Only 37% feel confident in their financial future
- 54% have spent time worrying about their finances while at work
But why are we collectively so far behind?
- Historical super contribution rates were lower – The superannuation guarantee has only gradually increased to today’s 12% (as of July 2025)
- Many Australians have multiple super accounts with fees eating away at balances
- Investment performance varies widely between funds
- Career breaks and part-time work reduce contributions
- Many people simply don’t engage with their super until it’s too late
What Can You Do If You’re Behind?
If you’re staring at your super balance with a sinking feeling, don’t panic. There are still ways to boost your retirement savings:
1. Consolidate your super
Multiple accounts = multiple fees. Bring them all together to stop the leakage.
2. Salary sacrifice
Pre-tax contributions can boost your balance and potentially reduce your tax.
Case study: Kenny, age 35, earning $90,000 annually with employer paying 12% SG, decided to salary sacrifice just $100 per month. This simple move gave him an extra $47,400 (in today’s dollars) at retirement, plus tax savings of about $204 per year.
3. Make personal contributions
After-tax contributions can help build your balance, and might qualify for government co-contributions if you’re a low or middle-income earner.
4. Check your investment options
Many people are too conservative with their super investments, especially in their younger years when they can afford to take more risk for potentially higher returns.
5. Downsizing contributions
If you’re 65 or older, you may be able to contribute up to $300,000 from the sale of your home into super.
6. Spouse contributions
Couples can help balance their super through spouse contributions and super splitting.
The Bottom Line
The average super balance at 65 is significantly below what experts recommend for a comfortable retirement. Women are especially disadvantaged.
But remember – averages don’t tell the whole story. Your personal situation, goals, and non-super assets all influence your retirement readiness.
The most important thing is to be proactive. Check your balance, understand your target, and take steps to close any gap. Even small, consistent actions can make a big difference over time.
And if you’re feeling overwhelmed, consider getting financial advice. Australian Retirement Trust and many other super funds offer members basic advice about their super at no additional cost.
Your future self will thank you for taking action today!
What’s your super balance looking like? Have you checked lately? Drop a comment below – I’d love to know how you’re tracking compared to these averages!
Want to learn more?
By doing a superannuation fund comparison and choosing the right fund for you, you can be on your way to growing your retirement savings.
How much do you need in your super for your retirement?
The amount you will need to retire will be different for everyone according to your target retirement age and goals. The ASFA Retirement Standard2 defines two retirement lifestyles:
- Comfortable retirement – budgets for a “good” standard of living, including meeting everyday needs, enjoying health and leisure activities, and staying close to family and friends through technology and regular trips.
- Modest retirement – budgets for a lifestyle slightly above the Age Pension, including affording basic health insurance and infrequent exercise, leisure and social activities with family and friends.
As a guide, ASFA2 suggests the minimum annual amount required for a ‘comfortable retirement’ is:
- $53,289 p.a for singles
- $75,319 p.a for couples
Alternatively, ‘modest retirement’ offers a slightly higher quality of life than what the Age Pension offers. For this, ASFA suggests:
- $34,522 p.a for singles
- $49,992 p.a for couples
The numbers above are correct for the June 2025 quarter.
Keep in mind these benchmarks only apply to retirees aged 65-84 who own their own home outright and are considered “relatively healthy”.
To get a more personalised idea of how much super you could have to spend in retirement and how long it may last, visit Rest’s Superannuation Calculator.
WATCH: Do you really need $1m to retire? Learn how much you need for a comfortable retirement
SUPER BALANCES BY AGE AUSTRALIA
FAQ
How much should a 65 year old have in super?
| Age group | Male | Female |
|---|---|---|
| 60-64 | $380,737 | $300,717 |
| 65-69 | $428,533 | $379.483 |
| 70-74 | $474,898 | $422,348 |
| 75 or more | $487,525 | $416,279 |
Is $500,000 a good super balance?
A couple could retire with $500,000 in super, with an income of about $63,000*, but they would be below the ASFA Retirement Standard of $73,875 per year for a comfortable retirement for a couple. You can see how long your super balance might last in retirement using our Retirement Drawdown calculator.
What is the average 401k balance for a 65 year old?
How many Australians have $2 million in superannuation?
Only around 3.1 per cent of households have very high total balances of over $2 million. Around 1.4 per cent or 142,000 households have more than $3 million in superannuation.