This article explains both: the ATO median super balances by age group, and the gap between those medians and the retirement adequacy targets most financial planning uses as benchmarks.
Key takeaway
ATO data shows the median Australian super balance at each age. Most Australians fall well short of the ASFA comfortable retirement target of $630,000. The gap between peer median and retirement adequacy is the more useful benchmark to understand.
This is general educational content, not financial or tax advice. Individual circumstances vary significantly.
The ATO Median Super Balance by Age#
The Australian Taxation Office publishes annual statistics on superannuation balances as part of its Taxation Statistics series. These figures represent median balances, not averages. The median is the midpoint: half of Australians in that age group have more, half have less.
Median figures are a better peer benchmark than averages because super balances are skewed by a relatively small number of very large accounts. The average is pulled up by people with millions in super; the median is not.
The following table shows approximate ATO median super balances by age group for 2022-23:¹
| Age group | Approximate median balance |
|---|---|
| 18–24 | $5,000 |
| 25–29 | $19,000 |
| 30–34 | $36,000 |
| 35–39 | $57,000 |
| 40–44 | $90,000 |
| 45–49 | $144,000 |
| 50–54 | $165,000 |
| 55–59 | $207,000 |
| 60–64 | $193,000 |
| 65–70 | $217,000 |
Source: ATO Taxation Statistics 2022-23 (Chart 12). Combined male/female median. Figures are approximate and rounded.
The slight decline from 55–59 to 60–64 reflects withdrawals beginning as people hit preservation age, partially offset by ongoing contributions.
Check Your Balance Right Now#
Use the Illuminvest super balance checker to see where your balance sits relative to the ATO median for your age group in seconds — no signup required.
[Open the super balance checker →](/tools/super-balance-checker)
The Median Is Not a Target#
Before drawing conclusions from the table, it is important to understand what the median does and does not tell you.
The median tells you where you sit relative to your peers. It does not tell you whether your super is sufficient for your retirement needs.
Most Australians at most ages are significantly below the levels that would fund a comfortable retirement by standard definitions. The median describes the current state of Australian superannuation — which is, in aggregate, underfunded relative to retirement adequacy benchmarks.
Being at or above the median is a peer comparison. It is not a statement about retirement readiness.
The Retirement Adequacy Gap#
The Association of Superannuation Funds of Australia (ASFA) publishes quarterly benchmarks for retirement income adequacy.²
For a single homeowner aged 67:
- Comfortable retirement: $630,000 in super (2025 update)
- Modest retirement: Primarily reliant on the Age Pension, requiring less in super
For a couple who own their home:
- Comfortable retirement: $730,000 combined (2025 update)
These targets assume the person owns their home outright and is eligible for some Age Pension supplement above a certain threshold. People who rent in retirement typically need more.
At the ATO median, most Australians are well short of these targets at all ages. A 50-year-old with $165,000 (the approximate median) would need to accumulate approximately $465,000 more over 17 years to reach the ASFA comfortable target. This is achievable with consistent contributions and reasonable returns but requires intentional action.
Why Super Balances Vary So Much#
Super balances at any given age differ for predictable reasons:
Career breaks and part-time work. Super accrues on employer contributions, which depend on earned income. People who have taken career breaks for caregiving, study, or other reasons will have lower balances for their age. This disproportionately affects women, who on average retire with significantly less super than men.³
Early career income. Super accrued when income was lower grows more slowly. Someone who earned a higher income earlier in their career will typically have more super than someone who only reached higher income later.
Multiple accounts. A common driver of lower-than-expected balances is super fragmented across multiple accounts, each paying fees. Consolidating into one account eliminates duplicate fees.
Lost super. The ATO estimates billions of dollars in super is unclaimed or lost. Balances sitting in funds from jobs held years ago may not be visible in the account a person checks regularly.
Investment option. Different investment options within the same fund can produce materially different returns over a decade. A default balanced option versus a high-growth option (or a very conservative one) will compound to very different endpoints over 20 to 30 years.
The Gender Gap in Super#
The gender super gap is significant and persistent across all age groups. ASFA research indicates that women at retirement age have substantially less in super than men.⁴
Contributing factors include:
- Pay gap: Lower average wages mean lower employer contributions on the same percentage rate.
- Career breaks: More time outside the paid workforce for caregiving, during which no super accrues.
- Part-time work: Higher rates of part-time employment, which reduces contribution amounts.
- Divorce and relationship breakdown: Super splitting at divorce has not fully addressed the gap.
Understanding this context matters because if you are a woman comparing yourself to the median, the median itself reflects a significant structural gap. Comparing to the male median or to the retirement adequacy target gives a clearer picture of where action is most needed.
What Can Change a Super Balance#
For people who find their balance below where they would like it to be, several mechanisms exist within the Australian super system to close the gap over time. These are structural rules, not recommendations:
Voluntary concessional contributions. Contributions made before tax (from salary or as a personal deductible contribution) reduce taxable income in the year made and are taxed at 15% inside the fund rather than at marginal rate. Caps apply.
Carry-forward concessional contributions. If your super balance is below $500,000 and you have unused concessional contribution cap from the previous five years, you may be able to make larger contributions in a single year.
Non-concessional contributions. After-tax contributions can also boost super balance. Caps apply, and the bring-forward rule may allow multiple years' caps to be used in one year.
Investment option review. Checking whether the default investment option is appropriate for your time horizon is a straightforward step. People with 15 or 20 years until retirement often have their money in more conservative options than their horizon would suggest is necessary.
Consolidation. Merging multiple super accounts into one eliminates multiple sets of administration fees and simplifies tracking.
These are structural features of the super system. Whether any of them are appropriate for your situation requires considering your full financial picture. A financial adviser can assess this.
A Note on APRA Data vs ATO Data#
Two organisations publish super balance statistics for Australia. Their figures can differ, and it is worth understanding why.
ATO data covers all superannuation accounts, including SMSF members, and is reported at the individual level based on tax return data. This is the source used for the median table above.
APRA data covers only APRA-regulated funds (industry funds, retail funds, corporate funds) and excludes SMSFs. APRA data tends to show lower average balances because it excludes the high-balance SMSF sector.
Neither source is wrong — they measure different populations. For individual comparison purposes, the ATO data is generally more representative.
Using the Free Super Balance Checker#
The Illuminvest super balance checker is a simple, free tool built specifically for this comparison. Enter your age and your total super balance across all accounts (including any accounts you have checked on myGov), and see instantly how you compare to the ATO median for your age group.
[Check your super balance →](/tools/super-balance-checker)
No signup required. No data is stored.
Summary#
The ATO median super balance for Australians peaks in the mid-50s to mid-60s, reaching approximately $207,000 for ages 55-59. Most Australians at most ages are below the ASFA comfortable retirement target of $630,000 for a single homeowner. The median is a peer comparison, not a retirement adequacy target: being at the median is not the same as being on track. Gender, career history, and investment choice drive significant variation in balances at the same age. The tools available within the super system — voluntary contributions, carry-forward rules, consolidation, and investment option review — can close gaps, but the right approach depends on individual circumstances.
Sources#
- Australian Taxation Office. (2024). Taxation Statistics 2022-23: Individuals statistics. https://www.ato.gov.au/about-ato/research-and-statistics/in-detail/taxation-statistics/taxation-statistics-2022-23/
- ASFA. (2025). ASFA Retirement Standard. https://www.superannuation.asn.au/resources/retirement-standard/
- Australian Bureau of Statistics. (2023). Gender indicators, Australia. https://www.abs.gov.au/statistics/people/people-and-communities/gender-indicators-australia
- ASFA. (2024). An update on superannuation account balances. https://www.superannuation.asn.au/wp-content/uploads/2024/09/ASFA-Research-Account-balances-August-2024.pdf