Baby Boomers: What is the Average Super Balance at 65?

Apart from family homes, superannuation is the largest asset for Australians and will be the main source of retirement funds for the majority of them. We’ll look at the average and median super balances for men and women in Australia by age in this post so you can compare yourself and get some advice on how to get a bigger super balance.

As a Baby Boomer nearing retirement, understanding your superannuation balance is crucial for planning a comfortable post-work life. This article delves into the average super balance for Baby Boomers at 65, providing insights into how your savings compare to others in your age group.

Average Super Balance for Baby Boomers at 65

According to the Association of Superannuation Funds of Australia (ASFA), the average super balance for Baby Boomers aged 65 to 69 in 2015-16 was $207,105. This figure is lower than the average for those aged 60 to 64, which stands at $214,897.

Factors Influencing Super Balance

Several factors can influence your super balance at 65, including:

  • Salary and contributions: Higher salaries and regular contributions throughout your working life lead to a larger super balance.
  • Investment performance: The performance of your super investments significantly impacts your balance.
  • Age at which you started working: Starting work at a younger age allows for longer accumulation of superannuation.
  • Career breaks: Taking career breaks, particularly without super contributions, can affect your balance.

Comparison to Retirement Standard

The ASFA Retirement Standard suggests that a comfortable retirement for a single person requires a super balance of $545,000, while a couple needs $640,000. Based on these figures, many Baby Boomers may have a shortfall in their super savings.

Strategies to Boost Your Super Balance

If your super balance falls below the recommended level, consider the following strategies to boost your savings:

  • Make voluntary contributions: Contribute extra to your super through salary sacrificing or one-off payments.
  • Review your investment options: Consider higher-risk, potentially higher-return investments to increase your balance.
  • Downsize your home: Utilize the downsizer super contribution scheme to contribute up to $300,000 from the sale of your home.
  • Work part-time in retirement: Continue working part-time to generate additional income and contribute to your super.

Understanding your super balance at 65 is crucial for planning a secure retirement. While the average balance for Baby Boomers in this age group is $207,105, many may fall short of the recommended retirement standard. By implementing strategies to boost your super savings, you can increase your financial security and enjoy a comfortable post-work life.

Median Super Balances by Age

Age Men Women
18-24 $4131 $3772
25-29 $17495 $16956
30-34 $38764 $32904
35-39 $65220 $50108
40-44 $92303 $65840
45-49 $118686 $80303
50-54 $139444 $92671
55-59 $162337 $109639
60-64 $178808 $137051
65-69 $189856 $180718
70-74 $195656 $188006
75+ $144773 $139579

The median super balance is the midpoint of all balances and usually provides a better indication of the typical balance of Australians. According to the Association of Superannuation Funds Australia (ASFA), the median super balance for those aged 25-29 was $17,495 for men and $16,956 for women as of June 2019, a relatively small gap which increases with age. By ages 45-49 balances were $118,686 for men and $80,303 for women. Balances peak at ages 70-74 at $195,656 for men and $188,006 for women, a slight narrowing of the gap in percentage terms.

Average Super Balances by Age

Age Men Women
18-24 $8072 $6994
25-29 $25173 $21774
30-34 $51175 $42240
35-39 $83723 $66611
40-44 $121119 $92680
45-49 $165587 $122228
50-54 $214795 $157124
55-59 $286283 $209653
60-64 $359870 $289179
65-69 $414380 $370042
70-74 $464565 $403268
75+ $436370 $380386

A small number of large balances could skew the average super balance, which is calculated by dividing the total number of balances by the total number of people. As of June 2019, the median super balance for individuals aged 25 to 29 was $21,774 for women and $25,173 for men, according to ASFA. At the age of 45–49, balances rose to $165,587 for men and $122,228 for women. At the age of 70–74, balances peaked at $464,565 for men and $403,268 for women. Once more, there is a disparity between men and women in every age group. The difference is greatest in percentage terms around middle age and then gradually narrows to retirement age.

Average Super Balance By Age 2023 (Official Statistics)


How much super should I have at 65?

Age (years)
Super balance

What is the average Australian super balance at retirement?

Average super balance – men
Average super balance – women

What is a good amount to have in super when you retire?

Two-thirds of your current yearly income This is to maintain the same standard of living once you retire. It’s a rough guide based on owning your home (no mortgage).

What does the average 65 year old have in retirement savings?

According to data from the Federal Reserve’s most recent Survey of Consumer Finances, the average 65 to 74-year-old has a little over $426,000 saved.

What is the average super balance for a 50 year old?

The average super balance for people aged 50 to 54 during 2015–16 was $135,290 the ASFA report found. For people aged 60 to 64 this figure increases to $214,897 and for 65-69-year-olds, it drops to $207,105 as people start drawing down their super.

What should the blood pressure be for someone who is 65?

Blood pressure is defined as the lateral pressure exerted on the walls of the blood vessels by the flowing blood. The normal blood pressure in adults is 120/80 mmHg (millimetres mercury). In the case of elderly patients aged 65 and above, blood pressure of 130/80 mmHg is considered normal according to the American Heart Association.

What is the average super balance?

The average super balance is the sum of all balances divided by the number of people and may be skewed by a small number of large balances. According to ASFA, the median super balance for those aged 25-29 was $25,173 for men and $21,774 for women as of June 2019.

How much is a 67-year-old super balance needed for a comfortable retirement?

Average super balance needed at 67 for a comfortable retirement is $690,000 for a couple and $595,000 for a single person. Canstar’s Research shows a shortfall in average super balances at 30 of about $26,000 for men and $31,500 for women. If your super balance isn’t on track, there are things you can do to help bump it up.

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