You wondered how much super you should have at your age.
The below graph shows how much the average Australian has in super at your age and how much they should have if they're to reach the balance needed for a comfortable retirement lifestyle at age 67 (according to ASFA*).
How does your super balance compare?
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This graph comparison is intended for illustrative purposes only. The figures used to calculate the graph comparison are generated using the ASFA Super Balance Detective calculator. Results are shown in today's dollars.
* The reported figure is the approximate amount a person should have in super now to reach the ASFA Comfortable Standard balance by age 67, assuming a future pre-tax wage income of around $65,000 per annum. The Comfortable Standard balance—which is the lump sum required for a single person to have a comfortable retirement—is $545,000, in today’s dollars. The lump sum required for a comfortable retirement assumes the retiree will draw down all their capital and receive a part Age Pension.
Pre-tax wage income of just under $65,000 p.a. The Superannuation Guarantee (SG) contribution rate increases in line with current law, from 9.5% to 12% in 2025-26. Contributions tax is deducted at the rate of 15%. Investment returns (nominal), before investment fees and taxes, are 6.7% (investment fees are 0.7 per cent of assets, and the tax rate is 4.5%). Administration fees are $100 per annum. Insurance premiums are $100 per annum.
The reported figure assumes the person has a full year until their next birthday, and thus will receive a full year of SG contributions before their next birthday. It is assumed that a person is born on 1 July (in a particular financial year), and the reported figure is the balance on the person's birthday.
^ Australian Average account balances are published by ASFA with data from the ABS Survey of Household Income and Wealth and the Australian Tax Office. Figures detailed are based on an individual's age as at 30 June 2017. This graph comparison is intended for illustrative purposes only. The figures used are available in ASFA's Better Retirement Outcomes: a snapshot of account balances in Australia. Results are shown in today's dollars.
BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) (the Trustee) does not accept any liability, either direct or indirect, arising from any person relying, either wholly or partially, upon any information provided by, resulting from, shown in, or omitted from, this graph comparison. Under no circumstances will the Trustee be liable for any loss or damage caused by a member’s reliance on information obtained using this graph comparison. This graph comparison provides information of a general nature only and is not a prediction of your superannuation benefit and should not be relied upon for making financial or product related decisions.
This information is general advice only and does not take into account or consider your personal objectives, financial situation or needs. Before acting, you should review the relevant Product Disclosure Statement to ensure you have all the information about the BUSSQ product and how it works and consider the appropriateness of the information to your needs or seek independent advice from a properly qualified professional. Prepared by BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) as Trustee for BUSSQ (BUSSQ Fund, ABN 85 571 332 201).
Pre-tax wage income of just under $65,000 p.a. The Superannuation Guarantee (SG) contribution rate increases in line with current law, from 9.5% to 12% in 2025-26. Contributions tax is deducted at the rate of 15%. Investment returns (nominal), before investment fees and taxes, are 6.7% (investment fees are 0.7 per cent of assets, and the tax rate is 4.5%). Administration fees are $100 per annum. Insurance premiums are $100 per annum.
The reported figure assumes the person has a full year until their next birthday, and thus will receive a full year of SG contributions before their next birthday. It is assumed that a person is born on 1 July (in a particular financial year), and the reported figure is the balance on the person's birthday.
^ Australian Average account balances are published by ASFA with data from the ABS Survey of Household Income and Wealth and the Australian Tax Office. Figures detailed are based on an individual's age as at 30 June 2017. This graph comparison is intended for illustrative purposes only. The figures used are available in ASFA's Better Retirement Outcomes: a snapshot of account balances in Australia. Results are shown in today's dollars.
BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) (the Trustee) does not accept any liability, either direct or indirect, arising from any person relying, either wholly or partially, upon any information provided by, resulting from, shown in, or omitted from, this graph comparison. Under no circumstances will the Trustee be liable for any loss or damage caused by a member’s reliance on information obtained using this graph comparison. This graph comparison provides information of a general nature only and is not a prediction of your superannuation benefit and should not be relied upon for making financial or product related decisions.
This information is general advice only and does not take into account or consider your personal objectives, financial situation or needs. Before acting, you should review the relevant Product Disclosure Statement to ensure you have all the information about the BUSSQ product and how it works and consider the appropriateness of the information to your needs or seek independent advice from a properly qualified professional. Prepared by BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) as Trustee for BUSSQ (BUSSQ Fund, ABN 85 571 332 201).