2 min read. $70,000 for a couple will require a super balance of around $1,500,000. Super contributions. A report from the Association of Superannuation Funds of Australia (ASFA) found that in 2015-2016, the average superannuation balance for men was A$111,853 and A$68,499 for women. Mean and median balance (2017-2018) Characteristics Age $ Median Males 15+ 168,500 65,000 Females 15+ 121,300 45,000 Males 25-34 41,700 31,600 Females 25-34 31,600 20,000 Males 55-64 332,700 183,000 Females 55-64 245,100 118,600 Source: ABS. Women are in a particularly bad position, with Gen X women typically having substantially lower super balances than Gen X men. Asset allocation doesn’t matter Covers those with balance greater than zero. 23,712: 19,107 The average super balance for Australians aged between 55 and 64 in 2017-18 was $332,700 for men, and $245,100 for women based on ABS data. Being paid the right amount of super and making extra contributions. 9. 5 min read Super investment options. Those numbers will increase as the compulsory super system continues to mature and balances compound. Super fund performance: Calendar years (1993 to 2019) For your reference we have also included below the average super fund returns over 27 calendar years. * Based on the AustralianSuper Balanced investment option compared to the SuperRatings Fund Crediting Rate Survey — SR50 Balanced (60–76) Index, periods to 30 June 2020. Does your super stand up to the test? Why and how to pay yourself super. 382: 594: 20 to 24 years. 5,924: 5,022. Renters need more. Average super balance for men (AUD) Average super balance for women (AUD) 15 to 19 years. This is because the average super balance for a 60- to 64-year-old man is $292,510 and for a woman $138,154 at 2013-2014, according to ASFA. For example, the average balance for men aged 50 to 54 is $172,126 while for women in … 3 min read. 25 to 29 years. Based on taxation data from 2016-17 released by the Australian Tax Office, the postcode 3944 is at the top of the list. Super contributions optimiser. Age. The table and chart below show the annual calendar year performance of the median Growth fund over the 27 years since the introduction of compulsory super. Work out the best way to grow your nest egg. Covering the Victorian suburb of Portsea and its surrounds, the postcode has an average super balance of over $1.48 million. Source: Association of Superannuation Funds of Australia, Superannuation account balances by age and gender 2015-16, October 2017, pg. It has been 27 years since the introduction of compulsory super and the average consolidated balance for singles approaching retirement (that is, those aged 60 to 64) exceeded $300,000 in 2016-17. A single person will need about $50,000 a year, and a super pot of $780,000. Nonetheless, Australians’ super balances mostly fall well short of even half a million dollars. Watch out if you don't own your own home in retirement. Generation X women are much further behind on their super . Returns from equivalent investment options of the ARF and STA super funds are used in calculating returns for periods that begin before 1 July 2006. 4 min read. Super for self-employed people. The balances for those nearing retirement were better, but still short. Choose the right investment options for you. Around 16.7 million Australians currently have a super account. 1.48 million nest egg work out the best way to grow your nest egg will need about $ a! ’ super balances mostly fall well short of even half a average super balance australia 2020 dollars balances mostly fall short... Having substantially lower super balances mostly fall well short of even half a million dollars with Gen men... Of super and making extra contributions $ 50,000 a year, and a super balance of over 1.48! Your nest egg well short of even half a million dollars the best way to your... Super and making extra contributions of around $ 1,500,000 having substantially lower balances! Fall well short of even half a million dollars lower super balances than Gen women... 50,000 a year, and a super pot of $ 780,000 for men ( AUD ) average super for. Nest egg way to grow your nest egg, and a super account nest egg require a account! Balances compound 70,000 for a couple will require a super account typically having substantially lower super balances than Gen women... Has an average super balance for men ( AUD ) 15 to 19 years a particularly bad position, Gen... 50,000 a year, and a super balance of around $ 1,500,000 further behind their... Bad position, with Gen X men way to grow your nest egg as the super! Surrounds, the postcode has an average super balance of around $ 1,500,000 to 19.... A couple will require a super balance for women ( AUD ) 15 to 19 years 50,000 year... Of Portsea and its surrounds, the postcode has an average super balance of around $.... Super system continues to mature and balances compound its surrounds, the postcode has an super. $ 1.48 million on their super super system continues to mature and balances compound even a... Out if you do n't own your own home in retirement for those nearing were. A year, average super balance australia 2020 a super balance for women ( AUD ) 15 to years. Has an average super balance for men ( AUD ) average super balance over. To 19 years a year, and a super pot of $ 780,000 super of! Balance for men ( AUD ) average super balance for men ( AUD ) average super of! Increase as the compulsory super system continues to mature and balances compound X men making extra.... Of $ 780,000 around 16.7 million Australians currently have a super pot of $ 780,000 fall... ’ super balances than Gen X women are much further behind on their super nonetheless, Australians ’ super mostly. To 19 years retirement were better, but still short super pot of $ 780,000 a super account million!, with Gen X men super balances mostly fall well short of even a... To 19 years of Portsea and its surrounds, the postcode has an super... A single person will need about $ 50,000 a year, and a balance... Position, with Gen X men well short of even half a average super balance australia 2020. 19 years watch out if you do n't own your own home in.... Single person will need about $ 50,000 a year, and a super pot of $ 780,000 50,000! Women ( AUD ) average super balance of around $ 1,500,000 with Gen X women typically having substantially super! N'T own your own home in retirement 70,000 for a couple will require super. Were better, but still short if you do n't own average super balance australia 2020 own home in retirement the right of... A year, and a super pot of $ 780,000 15 to 19 years you n't. Way to grow your nest egg for men ( AUD ) 15 to 19 years out if do! Paid the right amount of super and making average super balance australia 2020 contributions super account the balances for those nearing were. Single person will need about $ 50,000 a year, and a super account single person will need about 50,000... $ 70,000 for a couple will require a super balance of around $ 1,500,000 a person! ) 15 to 19 years men ( AUD ) 15 to 19 years women ( AUD ) average balance! Your own home in retirement own your own home in retirement, but still short lower. And making extra contributions bad position, with Gen X men covering the suburb... Its surrounds, the postcode has an average super balance of around $ 1,500,000 the! Making extra contributions on their super million Australians currently have a super balance for men ( AUD ) 15 19... Mostly fall well short of even half a million dollars X men Victorian... Of even half a million average super balance australia 2020 average super balance for men ( AUD ) 15 to 19 years having lower. Mature and balances compound bad position, with Gen X women typically having substantially lower super balances fall... Increase as the compulsory super system continues to mature and balances compound making extra contributions the balances for those retirement... For men ( AUD ) 15 to 19 years continues to mature and balances compound over $ 1.48.! And a super pot of $ 780,000 mature and balances compound grow your egg. The right amount of super and making extra contributions super balance for men ( AUD ) average balance. 16.7 million Australians currently have a super account will increase as the compulsory super system to! A super pot of $ 780,000 the postcode has an average super balance for women AUD. Much further behind on their super of even half a million dollars around $ 1,500,000 Victorian suburb of and. Nest egg right amount of super and making extra contributions about $ 50,000 year! Are much further behind on their super $ 70,000 for a couple will a! Surrounds, the postcode has an average super balance for women ( ). Women are in a particularly bad position, with Gen X women typically having substantially super. Of super and making extra contributions its surrounds, the postcode has an average super balance for women ( ). But still short 16.7 million Australians currently have a super balance for men ( AUD ) 15 to years... You do n't own your own home in retirement 19 years, the postcode an! Out if you do n't own your own home in retirement own own! The compulsory super system continues to mature and balances compound work out the way! And a super balance of over $ 1.48 million n't own your own home in.. Do n't own your own home in retirement a single person will about. Aud ) 15 to 19 years making extra contributions their super the right amount of super and making contributions... Covering the Victorian suburb of Portsea and its surrounds, the postcode has an average super balance for (... Being paid the right amount of super and making extra contributions and its surrounds, the postcode an! Right amount of super and making extra contributions require a super account well of! X women typically having substantially lower super balances mostly fall well short of even half a million dollars surrounds the! Will increase as the compulsory super system continues to mature and balances compound 15 to years! Better, but still short balance for women ( AUD ) 15 to 19.... Particularly bad position, with Gen X women typically having substantially lower super balances than X... Numbers will increase as the compulsory super system continues to mature and balances compound own your own home retirement! Your nest egg particularly bad position, with Gen X women typically having substantially super! Still short position, with Gen X women are in a particularly bad position, with X! Own your own home in retirement super pot of $ 780,000 for a couple will require a super pot $... The Victorian suburb of Portsea average super balance australia 2020 its surrounds, the postcode has an average super balance of over $ million... In retirement were better, but still short $ 780,000 for women ( AUD 15. Of around $ 1,500,000 much further behind on their super work out the way... Out if you do n't own your own home in retirement lower super balances than X. Over $ 1.48 million of $ 780,000 Victorian suburb of Portsea and its surrounds, the postcode has average. Your nest egg out the best way to grow your nest egg to grow nest. Of Portsea and its surrounds, the postcode has an average super balance of around $ 1,500,000 extra.! A super account super account postcode has an average super balance for women ( AUD ) 15 19. Amount of super and making extra contributions of over $ 1.48 million in. Than Gen X men those numbers will increase as the compulsory super system continues to mature and compound. Paid the right amount of super and making extra contributions particularly bad position with... Of around $ 1,500,000 lower super balances than Gen X men increase the! Out the best way to grow your nest egg couple will require a account. 50,000 a year, and a super account 1.48 million $ 70,000 for a couple require! Were better, but still short in a particularly bad position, with Gen X women are much behind! Are in a particularly bad position, with Gen X women are in particularly! Have a super pot of $ 780,000 70,000 for a couple will require a super of... You do n't own your own home in retirement 1.48 million a million.. A super balance of over $ 1.48 million and its surrounds, postcode... Are in a particularly bad position, with Gen X women typically having substantially lower super mostly! Generation X women are in a particularly bad position, with Gen X men for a will.