Do you know how your superannuation balance compares to other Aussies the same age?
It's important to keep on top of how much is in your superannuation at each life milestone. How else can you make sure you're on track with your retirement goals?
The issue is that Australians aged 45 are at a very different stage of life from those aged 65.
At age 45, many Australians feel like they're at a financial crossroads. They're at the life stage between the superannuation they've built in their early careers and the stage when their superannuation begins to compound more rapidly.
At age 65, many Australians are in or very close to retirement. This age group should be closely examining what they need to retire and live the lifestyle of their dreams.
Here's a breakdown of the average superannuation balance for Australians aged 45 versus 65 in 2026.
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What is the average superannuation balance of Australians aged 45 in 2026?
There isn't an exact figure for Australians aged 45, but there is a bracket that can help provide a good starting point.
Data from the Association of Superannuation Funds of Australia (ASFA) shows that at age 45-49, the average male has $193,501 in their superannuation. Meanwhile, the average female has $147,146.
What is the average superannuation balance of Australians aged 65 in 2026?
At age 65, the figures are again vastly different between men and women.
ASFA data shows that males aged 65-69 have an average superannuation balance of $448,518. Meanwhile, women have an average of $392,274.
How do these balances compare to what I actually need to retire?
ASFA data also shows how much Australians actually need in their superannuation in order to live a comfortable retirement.
That's one where retirees can expect to maintain a good standard of living. It assumes you'd own the top level of private health insurance, own a reasonable car brand and do regular leisure activities. It also includes funds for potential home repairs or renovations, the occasional meal out, and perhaps even an annual holiday.
According to ASFA, a comfortable retirement is expected to cost around $54,840 per year for single Aussies. It is expected to cost roughly $77,375 per year for a couple. This also assumes that you'd be entitled to receive a part Age Pension payment at age 67.
These figures indicate that by age 67, single Australians need a superannuation balance of approximately $640,000. And couples should have closer to $730,000.
As you can see, what you actually need for a comfortable retirement is a lot more than the average superannuation balance of Australians, even at age 65.
How does your superannuation balance compare now?
ASFA has crunched the numbers, and it turns out that in order to reach the total balance needed at age 67, you'd need a superannuation balance of around 239,000 at age 45. This would need to increase to around $604,500 by age 65.
