If you're in your 70s, superannuation has likely transitioned from being something to build into something to draw upon.
But even in retirement, knowing how your super balance compares to others your age can offer useful insight — whether you're checking in on your financial health or considering your options for the years ahead.
So, how does your super stack up?
What is the average superannuation balance at age 70?
Unfortunately, data is unavailable for the exact average superannuation balance at 70 years old.
However, we can look at the two closest age groups to get an idea of what is likely to be a typical balance for someone of that age.
According to the latest data from the Association of Superannuation Funds of Australia (ASFA), Australians aged 70 to 74 have an average super balance of $474,898 for men and $422,348 for women.
This represents a small increase from the 65–69 age group, where average balances were $428,533 for men and $379,483 for women.
Based on this, I think it would be fair to assume that the average 70-year-old man has a balance in the region of $452,000, whereas the average 70-year-old woman has around $401,000 in their super.
Should your balance be growing or shrinking?
Not everyone stops working at the same time. Many Australians now choose to keep working part-time past age 65 or delay drawing down their super, particularly if they don't yet qualify for the age pension or want to keep boosting their savings.
If you're still in accumulation mode, even in your early 70s, modest contributions combined with market returns could push your balance higher.
However, for those drawing an income stream, seeing a decrease is natural — though how quickly that decline occurs depends on withdrawal rates, investment returns, and expenses.
Some experts suggest that retirees follow the 4% rule. It suggests that "you can comfortably withdraw 4% of your total investments in your first year of retirement and adjust that amount for inflation for every subsequent year without risking running out of money for at least 30 years."
Is that balance enough to live comfortably?
The ASFA has long used a benchmark of $595,000 for singles and $690,000 for couples as the level needed to fund a comfortable retirement.
By this measure, the average single 70-year-old may fall a little short — especially if super is the primary source of income.
However, the average couple would be enjoying a comfortable retirement based on ASFA's numbers. This means the following according to the AFSA Retirement Standard:
A comfortable retirement lifestyle enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as; household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.
But don't worry if you're a little short of target because AFSA estimates that a modest retirement is possible with just $100,000 for both singles and couples. This is defined as:
A modest retirement lifestyle is considered better than the Age Pension, but still only allows for the basics.
Foolish takeaway
Reaching your 70s doesn't mean the super conversation ends — far from it. Whether you're still invested, making withdrawals, or weighing your estate planning options, your super remains a key part of your financial wellbeing.
Knowing how your balance compares to others your age can help guide decisions. And no matter where you stand, it's worth staying engaged, informed, and proactive with your money as you continue your retirement journey.
