Somewhere in your late 30s or early 40s, the question usually arrives: is my super where it should be? Most Australians only ask it once, quietly, when they log in to check their balance and can’t tell whether the number is good, bad, or normal.
The answer depends on your income, your target retirement lifestyle, and how long you’ve been contributing. But there are useful benchmarks, and if you’re behind, there’s a decade or two to fix it.
What “on track” actually means
There’s no single official target. Two benchmarks are commonly used:
- The ASFA target balance at each age is the amount you’d need if you kept contributing at the current SG rate and wanted to reach a comfortable retirement at 67
- The ATO median balance is what the average Australian your age actually has
Being at the median means you’re in the middle of the pack. Being at the ASFA target means you’re on track for a comfortable retirement. Most Australians are somewhere between the two, closer to the median.
Benchmarks by decade
The figures below combine ASFA’s target-balance guidance with the ATO’s most recent published median super balances by age. Round numbers, in current dollars, for a single individual.
| Age | Median balance (typical) | ASFA target (on track for comfortable retirement) |
|---|---|---|
| 30 | ~$40,000 | ~$55,000 |
| 35 | ~$65,000 | ~$95,000 |
| 40 | ~$95,000 | ~$155,000 |
| 45 | ~$130,000 | ~$225,000 |
| 50 | ~$170,000 | ~$310,000 |
| 55 | ~$210,000 | ~$410,000 |
| 60 | ~$265,000 | ~$535,000 |
| 65 | ~$310,000 | ~$690,000 |
Couples typically need less per person because Age Pension entitlements and shared living costs work in their favour. The couple’s combined target for comfortable retirement sits around $780,000 at age 67.
Reading the table honestly
Two things worth flagging.
First, women’s median super balances are typically 20-30% lower than men’s at every age bracket. That’s a function of the gender pay gap, time out of work for caring, and part-time work patterns. If you’re a woman looking at these numbers, the median column for your age is likely still overstating where you actually are relative to your male peers.
Second, the ASFA target column assumes the Age Pension will cover part of your retirement income. If your goal is to be entirely self-funded, or if you want a lifestyle above the comfortable benchmark, the target column understates what you need.
The most important time to take action is now
Whatever age you’re reading this, the highest-value move is the one you make today.
Super is a compounding machine, and compounding rewards time more than it rewards size. A dollar contributed at 30 has 37 years to compound to age 67. A dollar contributed at 55 only has 12. Even at conservative long-run returns, the earlier dollar can end up worth two or three times the later one at retirement.
The practical consequence: small, consistent contributions started early beat large catch-up contributions started late.
- $50 a week salary-sacrificed from age 30 (roughly $2,600/year) compounds to around $270,000 in retirement dollars at 7% pa. That’s without ever noticing the money.
- The same person starting at 50 has to sacrifice more than $180 a week to reach the same figure. Doable, but a much bigger dent in take-home pay during peak family and mortgage years.
The other side of this is that later-life levers do exist for people who need to catch up. Two worth knowing about:
- Concessional contribution carry-forward. If your total super balance is under $500,000 at 30 June the prior year, you can use unused concessional cap from up to five previous years. Someone at 52 with a $400,000 balance and limited salary sacrifice history can potentially contribute a large lump sum in one year, deducted at their marginal rate.
- Bring-forward non-concessional contributions. Up to three years of the non-concessional cap can be brought forward in one contribution ($390,000 combined for 2026-27), useful for property sale proceeds, inheritances, or accumulated savings outside super.
These catch-up tools work, and we use them regularly with clients approaching retirement. But they’re a plan B. The much easier plan A is to start with something modest at whatever age you are now, and let time do most of the work for you.
What to do at each stage
In your 30s. Consolidate multiple funds so you’re not paying multiple sets of fees and multiple insurance premiums. Check your investment option: most under-40s should be in a high-growth or growth option, not a balanced default. Set a modest salary sacrifice if cashflow allows, even $50 a week compounds to a meaningful figure.
In your 40s. Review your investment option again. Confirm insurance inside super still fits (rising life stage, mortgage, kids). Start tracking your concessional cap use each year. If you’re approaching $500,000 in total super balance, prioritise using carry-forward before you cross the threshold.
In your 50s. This is the decade to lean in. Model your target retirement income and work back to a balance figure. Structured salary sacrifice or personal deductible contributions, carry-forward, and bring-forward strategies are all in play. Review estate planning and binding death benefit nominations. Move to a slightly less aggressive investment mix as retirement gets closer (but don’t over-defensively de-risk five years out; you have a lot of time still).
In your 60s. This is the age to get proper advice, because the decisions in front of you get more valuable and less reversible. From 60 you can start a transition to retirement (TTR) pension while still working, which turns the fund earnings supporting your pension balance into a more tax-effective structure. Better still, if you change jobs after 60 or reach age 65, you meet a condition of release and can move your super into a full account-based (unrestricted) pension. That removes the TTR drawdown ceiling and, up to the transfer balance cap, makes the earnings on that pension balance tax-free. Whether TTR or unrestricted, the right structure depends on your specific circumstances, and this is where a financial planner earns their fee.
When “how much super” isn’t the right question
For higher-income earners and those with substantial assets outside super, “how much super” is only part of the picture. The right frame is total retirement capital: super, investments held personally or in trusts, business equity, and the family home. Some of the most tax-effective retirements are built on a mix of assets rather than on maximum super.
If your circumstances are complex (business owner, SMSF trustee, high income triggering Division 293 tax), the question shifts from “how much super” to “what’s the right mix of structures to fund my retirement”. That’s a different conversation, and it’s the one our financial planning team usually has with mass-affluent and HNW clients.
Where do you sit against the benchmarks?
If you’re above the ASFA target for your age, you’re on a strong trajectory. If you’re closer to the median, you’re roughly average. And if you’re below both, there’s still time to change the outcome, especially if you’re under 60.
The right next step is a proper look at your actual position. Log in to your super fund and check your balance and investment option, or book a free initial discussion with one of our advisers to work through where you sit and what’s realistic from here.