When it comes to retirement, your superannuation balance plays a major role in determining whether you will have a comfortable retirement.
But are Australians aged 55 and 65 on track for this? Let's find out.
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What is the average superannuation balance at 55 and 65?
Before comparing super balances at different ages, it is important to understand what those balances are ultimately trying to achieve.
According to the Association of Superannuation Funds of Australia (ASFA), a comfortable retirement allows Australians to do far more than just cover the basics.
It includes running a car, maintaining private health insurance, enjoying meals out, staying connected with family and friends, and taking occasional holidays. Based on the latest data (September 2025 quarter), this lifestyle requires annual spending of around $54,840 for singles and $77,375 for couples.
To support that level of income, ASFA estimates retirees need approximately $630,000 in superannuation for singles and $730,000 for couples. This assumes they own their home outright and are in relatively good health.
With that benchmark in mind, how do Australians compare at key ages like 55 and 65?
What does the average 55-year-old have?
Using the latest available data, Australians aged 55–59 hold average super balances of approximately $242,945 for women and $319,743 for men. Those aged 50-54 have $190,175 and $254,071, respectively.
Based on this, it is fair to assume that the average 55-year-old woman has approximately $217,000 and the average 55-year-old man has approximately $287,000.
This is a critical stage. Retirement is approaching, but there's still time for contributions and compounding to do meaningful work.
And with a decade or so left until pension age, the average couple appears on track for a comfortable retirement if they continue building on what they currently have. This assumes ongoing contributions, stable positive returns, and no major drawdowns.
What about at age 65?
As you would expect, Australians aged 65 hold significantly higher balances, averaging around $350,000 for women and $422,000 for men.
This increase reflects a decade of additional contributions, investment returns, and, in many cases, peak earning years. It highlights just how powerful the final stretch before retirement can be.
And while the average single person would fall short of target for a comfortable retirement, the average Australian couple has achieved it.
55 vs 65: what the gap tells us
The difference between 55 and 65 is significant.
Over that 10-year period, average super balances increase by well over $100,000. That's not just due to contributions, it is also the result of compounding returns building on an already larger base.
It reinforces a key point: the years leading up to retirement are some of the most important for wealth accumulation.
What if you're behind?
If you are behind the curve at 55, this is the perfect time to make some changes to your trajectory.
This could mean making extra contributions (concessional super contributions are taxed at 15%) or changing funds if yours is consistently underperforming.
The main thing to remember is that actions taken at 55 (and earlier) can make a huge difference to your life at 65. So, acting sooner than later is always the smart thing to do.
