$70,000 for a couple will require a super balance of around $1,500,000. Around 16.7 million Australians currently have a super account. Super contributions. 382: 594: 20 to 24 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. Choose the right investment options for you. Super for self-employed people. Work out the best way to grow your nest egg. Why and how to pay yourself super. Generation X women are much further behind on their super . 5 min read For example, the average balance for men aged 50 to 54 is $172,126 while for women in … 25 to 29 years. Super investment options. 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. 2 min read. Those numbers will increase as the compulsory super system continues to mature and balances compound. 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. 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. Renters need more. Covers those with balance greater than zero. Average super balance for men (AUD) Average super balance for women (AUD) 15 to 19 years. 3 min read. Nonetheless, Australians’ super balances mostly fall well short of even half a million dollars. 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. A single person will need about $50,000 a year, and a super pot of $780,000. Age. 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. Does your super stand up to the test? Being paid the right amount of super and making extra contributions. Covering the Victorian suburb of Portsea and its surrounds, the postcode has an average super balance of over $1.48 million. 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. Asset allocation doesn’t matter 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. 5,924: 5,022. Source: Association of Superannuation Funds of Australia, Superannuation account balances by age and gender 2015-16, October 2017, pg. Watch out if you don't own your own home in retirement. 9. 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