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How much super should I have?

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The average super balance for all age groups is $154,350, according to the Association of Superannuation Funds of Australia (ASFA). But how much should you have at your age?

Average super balance by age

AgeAverage balance (male)Average balance (female)
18–24$8,072$6,994
25–29$25,173$21,774
30–34$51,175$42,240
35–39$83,723$66,611
40–44$121,119$92,680
45–49$165,587$122,228
50–54$214,795$157,124
55–59$286,283$209,653
60–64$359,870$289,179
65–69$414,380$370,042

Average super balance for men and women based on different age groups, according to ASFA as of June 2019.

If you're behind the curve, it might be worth looking for a new super fund.

How much super do I need for retirement?

ASFA says you need $545,000 (or $640,000 for couples) to have a comfortable retirement. This also assumes you own your own home – if you don't, you'll need more in super.

The average super balance for those of retirement age (65–69) is $392,211, which is below the ASFA target.

How to grow your super if it's not on track

If your balance is a bit behind the average, don't worry, there are a few things you can do to help it grow:

  • Consolidate funds. Check if you've got more than 1 fund open in your name by looking at your myGov account linked to the ATO. If you do, consolidate them so your super is all in one place and you're not paying multiple sets of fees.
  • Make extra contributions. Consider making extra super contributions (either by direct bank transfer or via a salary sacrifice arrangement with your employer). This will really give your balance a boost, plus there are tax benefits too.
  • Look at your investment option. Most funds offer a high-growth option as an alternative to their default balanced option. High-growth options invest more of your balance into shares, which generally achieve higher returns over the long term (although they also attract more volatility in the short term).
  • Compare your fund. If your balance is lower than you were expecting, you could be in an underperforming fund. Compare your super fund and make sure you're in a low-fee, high-performing fund. The less you pay in fees, the more you'll get in returns. And the better your returns are, the more your balance will benefit from compound returns and continue to grow.

Haven't checked your super fund in a while? It could be time to switch.

1 - 16 of 457
Name Last 1 year performance (p.a.) Last 3 year performance (p.a.) Last 5 year performance (p.a.) Last 10 year performance (p.a.) Fees on $50k balance (p.a.)
Australian Ethical Super Balanced
Green CompanyEthical
Last 1 year performance (p.a.)
+9.71%
Last 3 year performance (p.a.)
+4.18%
Last 5 year performance (p.a.)
+7.35%
Last 10 year performance (p.a.)
+6.87%
Fees on $50k balance (p.a.)
$653
Go to siteMore Info
CareSuper Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+11.15%
Last 3 year performance (p.a.)
+7.42%
Last 5 year performance (p.a.)
+8.66%
Last 10 year performance (p.a.)
+8.16%
Fees on $50k balance (p.a.)
$553
Go to siteMore Info
Aware Super High Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+12.34%
Last 3 year performance (p.a.)
+7.06%
Last 5 year performance (p.a.)
+9.26%
Last 10 year performance (p.a.)
+8.4%
Fees on $50k balance (p.a.)
$497
Go to siteMore Info
HESTA Balanced Growth
Industry fund
Last 1 year performance (p.a.)
+10.46%
Last 3 year performance (p.a.)
+6.8%
Last 5 year performance (p.a.)
+7.63%
Last 10 year performance (p.a.)
+7.41%
Fees on $50k balance (p.a.)
$477
Go to siteMore Info
UniSuper - Balanced
Industry fund
Last 1 year performance (p.a.)
+10.33%
Last 3 year performance (p.a.)
+5.5%
Last 5 year performance (p.a.)
+8.05%
Last 10 year performance (p.a.)
+7.75%
Fees on $50k balance (p.a.)
$351
Go to siteMore Info
Spirit Super - Balanced (MySuper)
Industry fund
Last 1 year performance (p.a.)
+10.03%
Last 3 year performance (p.a.)
+6.02%
Last 5 year performance (p.a.)
+7.2%
Last 10 year performance (p.a.)
+7.38%
Fees on $50k balance (p.a.)
$452
Go to siteMore Info
CareSuper Balanced
Industry fund
Last 1 year performance (p.a.)
+9.03%
Last 3 year performance (p.a.)
+6.37%
Last 5 year performance (p.a.)
+7.47%
Last 10 year performance (p.a.)
+7.45%
Fees on $50k balance (p.a.)
$553
Go to siteMore Info
AustralianSuper - Balanced
Industry fund
Last 1 year performance (p.a.)
+8.96%
Last 3 year performance (p.a.)
+6.07%
Last 5 year performance (p.a.)
+8.05%
Last 10 year performance (p.a.)
+7.94%
Fees on $50k balance (p.a.)
$382
Go to siteMore Info
Australian Retirement Trust - Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+11.56%
Last 3 year performance (p.a.)
+9.62%
Last 5 year performance (p.a.)
+9.96%
Last 10 year performance (p.a.)
+8.95%
Fees on $50k balance (p.a.)
$587
Go to siteMore Info
HESTA High Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+13.09%
Last 3 year performance (p.a.)
+8.89%
Last 5 year performance (p.a.)
+9.87%
Last 10 year performance (p.a.)
+8.72%
Fees on $50k balance (p.a.)
$557
Go to siteMore Info
UniSuper - Conservative Balanced
Industry fund
Last 1 year performance (p.a.)
+6.33%
Last 3 year performance (p.a.)
+4.49%
Last 5 year performance (p.a.)
+5.12%
Last 10 year performance (p.a.)
+5.79%
Fees on $50k balance (p.a.)
$366
Go to siteMore Info
Australian Retirement Trust - Lifecycle Balanced Pool
Industry fundLifestage
Last 1 year performance (p.a.)
+10.09%
Last 3 year performance (p.a.)
+7.68%
Last 5 year performance (p.a.)
+8.25%
Last 10 year performance (p.a.)
+7.86%
Fees on $50k balance (p.a.)
$547
Go to siteMore Info
AustralianSuper Conservative Balanced
Finder AwardIndustry fund
Last 1 year performance (p.a.)
+7.06%
Last 3 year performance (p.a.)
+4%
Last 5 year performance (p.a.)
+5.93%
Last 10 year performance (p.a.)
+6.25%
Fees on $50k balance (p.a.)
$367
Go to siteMore Info
Australian Ethical Super Growth
Green CompanyEthicalHigher risk
Last 1 year performance (p.a.)
+11.01%
Last 3 year performance (p.a.)
+5.6%
Last 5 year performance (p.a.)
+8.25%
Last 10 year performance (p.a.)
+7.55%
Fees on $50k balance (p.a.)
$778
Go to siteMore Info
Australian Retirement Trust - Australian Shares
Industry fundHigher risk
Last 1 year performance (p.a.)
+12.21%
Last 3 year performance (p.a.)
+9.48%
Last 5 year performance (p.a.)
+10.2%
Last 10 year performance (p.a.)
+8.11%
Fees on $50k balance (p.a.)
$352
Go to siteMore Info
UniSuper - Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+11.72%
Last 3 year performance (p.a.)
+5.9%
Last 5 year performance (p.a.)
+9.12%
Last 10 year performance (p.a.)
+8.36%
Fees on $50k balance (p.a.)
$426
Go to siteMore Info
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Showing 16 of 48 results

Unless indicated otherwise, the information in the table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, Australian Financial Services Licence 311880.

*Past performance data and fee data is for the period ending Dec 2023

 

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