For Australians edging toward life after work, few questions loom larger than "Do I have enough super?"
With the Age Pension age now 67 and having gradually increased from 65 over the past decade, it's an important milestone for anyone planning their retirement income.
While everyone's path looks different, current data offers a helpful snapshot of what the average Australian has saved by pension age today.
What the average Australian has in super at 65–74
According to the Australian Retirement Trust, the average superannuation balance for Australians aged 65 to 74 is $435,900 for men and $381,700 for women. These figures reflect long-term contribution patterns, career breaks, wage differences, and the simple reality of compounding over several decades.
But averages don't always tell the whole story.
How much super is considered "comfortable"?
The Association of Superannuation Funds of Australia (ASFA) provides useful benchmarks for what a "comfortable" retirement might look like.
ASFA's recommended super balance at age 65 is currently $571,000 for a comfortable standard of living. This figure is designed to support:
- private health insurance, clothing, and reliable transport
- local holidays, outings, and everyday lifestyle activities
- home maintenance, entertainment, and streaming services
- general financial flexibility as costs rise over time
These targets also increase each year to keep pace with inflation, which is important to consider when comparing your personal balance with age-based estimates. Today's 40-year-old benchmark will not be the same by the time that person reaches 65.
How the Age Pension fits in
Australia's retirement system is built on three pillars: compulsory super, voluntary savings, and the Age Pension.
The Age Pension itself is means-tested — both income and assets — which means your super balance will influence how much pension support you may receive.
A few general principles apply:
- Lower super balances may qualify for a higher Age Pension entitlement, helping close the income gap.
- Higher super balances reduce or eliminate pension payments, but provide greater financial independence and spending flexibility.
- Many Australians end up with a mix of both — part-pension supplemented by super withdrawals.
This is why knowing the averages can be useful, but understanding your own total retirement income picture matters more.
Is the average super balance enough?
A combined figure of around $400,000 may support a modest or part-pension lifestyle for many retirees. However, whether it's "enough" depends on:
- your spending needs
- whether you own your home
- your health requirements
- your desired lifestyle (local travel vs international travel, etc.)
- whether you expect the full, part, or no Age Pension
The key message ASFA emphasises — and which comes through clearly in your attached data — is that consistent contributions compound meaningfully over time, and the benchmarks climb gradually to reflect rising living costs.
Building super is a decades-long process, and even small, steady contributions can lift retirement outcomes significantly.
Why investing consistently still matters
The jump in "comfortable" recommended balances from age 25 ($26,000) to age 65 ($571,000) isn't an accident. It reflects:
- inflation
- rising living standards
- longer lifespans
- the power of compounding for anyone who invests consistently
Rather than being discouraged by large end targets, Australians are better served by focusing on the controllables: regular contributions, long investment time frames, and avoiding panic during market downturns.
As the numbers show, wealth in super builds slowly — and then suddenly — over the final decade of full-time work.
