How much super should I have at my age?
There may be a large gap between the amount of super you’ve saved by a certain age and how much you’ll actually need for retirement. If you’re wondering “how much super should I have?”, then you may be interested in things you can do to help boost your retirement fund.
18 Aug 2026
There may be a large gap between the amount of super you’ve saved by a certain age and how much you’ll actually need for retirement. If you’re wondering “how much super should I have?”, then you may be interested in things you can do to help boost your retirement fund.
How much super do I need to retire?
The average superannuation balance needed at age 67 for a comfortable retirement is $730,000 for a couple and $630,000 for a single person, according to the latest figures from the Australian Government’s MoneySmart website and the Association of Super Funds of Australia (ASFA). That’s assuming they withdraw their super as a lump sum and receive a part of the Age Pension.
According to the latest Australian Bureau of Statistics (ABS) figures, the government pension is the main source of income for most retirees, with 47% of men and 41% of women relying on it in retirement. 31% of retired women rely on their partner’s income to pay their living costs, as do 8% of retired men.
ASFA defines a comfortable retirement as one in which a retiree can afford a range of recreational activities, buy household goods and pay for things like top-level private health insurance, a reasonable car, electronic equipment, occasional travel, and a modest standard of living.
The amount of superannuation you’ll need will vary depending on the standard of living you want to maintain in retirement. The Australian Retirement Trust suggests that you would need two-thirds of your current yearly income to maintain the same standard of living in your retirement (assuming you own your home with no mortgage). But at whatever stage of life you’re at, you may be wondering how much super you should have to support a comfortable retirement.
So how do these expenses break down, and how does your super balance stack up at your stage of life?
How much super do I need at my age?
Many Australians could be short on superannuation savings when the time comes to retire if they want to retire comfortably, Canstar data suggests. According to the latest APRA Quarterly superannuation figures, the average Aussie super balance is below what is needed to support a ‘comfortable’ lifestyle in retirement.
Canstar’s Research shows that men currently aged 40-44 might have a shortfall between $48,712 and $96,212 in their super accounts relative to what would be needed to support a comfortable retirement, and women aged 40-44 have a shortfall sitting between $76,458 and $123,958. The shortfall only increases as the average Aussie nears retirement age.
The table below shows estimates of how much super people of different ages should have in their balance today to be on track to afford a comfortable retirement.
How much super should I have?
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| Superannuation Balance Needed for a Comfortable Retirement |
||||
|---|---|---|---|---|
| Gender | Age | Average balance |
Balance required today for comfortable retirement |
Gap |
| Male | 30-34 | $55,145 | $70,500 – $107,500 | Between -$15,355 and -$52,355 |
| 40-44 | $129,288 | $178,000 – $225,500 | Between -$48,712 and -$96,212 | |
| 50-54 | $208,263 | $313,500 – $382,000 | Between -$105,237 and -$173,737 | |
| 60-64 | $281,916 | $496,500 – $581,000 | Between -$214,584 and -$299,084 | |
| Female | 30-34 | $47,333 | $70,500 – $107,500 | Between -$23,167 and -$60,167 |
| 40-44 | $101,542 | $178,000 – $225,500 | Between -$76,458 and -$123,958 | |
| 50-54 | $163,500 | $313,500 – $382,000 | Between -$150,000 and -$218,500 | |
| 60-64 | $$233,111 | $496,500 – $581,000 | Between -$214,584 and $299,084 | |
Source: www.canstar.com.au – 18/08/2026. Average balances based on those reported in the APRA Quarterly Superannuation Industry Publication (March 2026). Balance required today for comfortable retirement based on ASFA’s (The Association of Superannuation Funds of Australia) Super Balance Detective calculator for a person who turned 30, 40, 50 or 60 in 2026. Gap calculated as the difference between the average balance and the current balance required for a comfortable retirement. Comfortable retirement based on ASFA’s Comfortable Standard balance of $630,000 (in today’s dollars) by age 67. ASFA assumes future pre-tax wage income of around $65,000 and then upon retirement the retiree draws down all their capital and receives a part Age Pension. Other assumptions include: The Superannuation Guarantee 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% of assets, the tax rate is 4.5%, administration fees are $100 per annum and insurance premiums are $100 per annum. The reported required balances are intended for illustrative purposes only.
Remember these are only estimates and average figures, so it might be a good idea to check your own super balance to see if you’re on track to reach your goal when you plan to retire.
How much super do I need to retire at 60 in Australia?
The above estimates may give you an idea of the amount of super you would need for a comfortable retirement at age 60. The current balance required for both men and women sits between $469,000 and $581,000, but this assumes that you would continue to work. This also doesn’t take into account your retirement costs and how they would change if you were to retire earlier. You also won’t be able to access the age pension until you turn 66 (but this may depend on when you were born). You may wish to discuss your retirement plans with a professional financial advisor to get a better idea of the amount that you would need.
How much does it cost to live comfortably in retirement?
Couples aged 65 and over have a yearly spend of about $78,566, and singles spend approximately $55,923 to live comfortably in retirement, according to current figures reported by the ASFA.
Previously, ASFA flagged that retirees have faced significant pressure on their household budgets due to the historically high inflation. However, inflation has dropped significantly, hopefully bringing some relief to retiree budgets.
ASFA has compiled a breakdown of what a typical retiree would need to spend to live comfortably and modestly at ages 65 to 84.
Budgets for those aged 65-84
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| $ required |
Modest | Comfortable | ||
|---|---|---|---|---|
| Single | Couple | Single | Couple | |
| Total per week |
$701 | $2,018 | $1,075 | $1,511 |
| Total per year |
$36,434 | $52,473 | $55,923 | $78,566 |
Source: www.canstar.com.au – 18/08/2026. Based on ASFA Retirement Standards, March Quarter 2026.
While these are just estimates, a more modest lifestyle will generally be cheaper than a comfortable one, but this may come at the cost of some aspects of retired life.
What are the average super balances for Australians by age?
Here’s how much the average super balances are for Australians based on their age, according to data from the Australian Prudential Regulation Authority (APRA).
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| Age | Average balance (men) |
Average balance (women) |
Difference (between men and women) |
|---|---|---|---|
| 30-34 | $55,145 | $47,333 | $7,812 |
| 40-44 | $128,288 | $101,542 | $26,746 |
| 50-54 | $208,263 | $163,500 | $44,763 |
| 60-64 | $281,916 | $233,111 | $48,805 |
Source: www.canstar.com.au – 18/08/2026. Average balances based on those reported in the APRA Quarterly Superannuation Industry Publication (March 2026).
As you can see, there is a large discrepancy between men and women when it comes to their super balances.
How do I boost my super so I can retire comfortably?
If you’ve found your super balance isn’t on track for your retirement plans, then there are a few things you can do to help bump it up.
You can start by checking for any lost super you may have forgotten about, possibly from a previous job. If you had what’s known as an inactive low-balance super account, generally one less than $6,000 that hasn’t been added to for the past 16 months, then your super fund is required to pay that money to the Australian Taxation Office (ATO) to protect the account from getting eroded by fees.
The ATO says it will then try to consolidate the money into your active super account. If you’ve several, it will pick one based on the relevant super laws. If there is no eligible super account to pay the money to, then it will determine where it’s held for you.
If the amount in the inactive account is less than $200 or you’re aged 65 and over, the ATO may make a direct payment to you. Whatever happens, the ATO says it will try to get in touch with you to explain what has happened, so it’s important to always keep your contact details up-to-date (usually through your mygov account).
You can make additional contributions to your super, such as through salary sacrificing from your pre-tax earnings if that’s an option. There may be other options if you’re on a low income.
You should regularly give your fund a quick health check to make sure you’re in the right investment profile for your needs and be sure you’re not paying too much in fees. You can also check the level of insurance you have through super (such as for life insurance and income protection) to make sure the cover is right for your current needs and/or that you aren’t doubling up on coverage from external policies you may have.
You should also check that your fund’s performance is on par with its peers over the long-term (bearing in mind that past performance is not necessarily indicative of future performance).
If you’re in a MySuper fund, you can use the ATO’s comparison tool to check the fees and whether a super product is underperforming based on APRA’s testing. If you’re interested in changing super funds, you can compare super funds with Canstar.
You could also think about any other opportunities you could take advantage of to boost your super balance. It might be a good idea to seek some professional independent advice before making any changes.
Additional reporting by Nick Whiting.
Cover image source: Gorodenkoff/Shutterstock.com
This article was reviewed by our Finance Editor Brooke Cooper before it was updated, as part of our fact-checking process.
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