No matter where you are in your working life, there are benefits to giving your super a little boost. But how do you know what the end goal should be and therefore, how much of a boost is needed?
In this article, our friends at Team Super look at average balances by age and how much you might need to retire.
A general rule of thumb is not to compare yourself to others, but when it comes to your super balance, comparison can be a very strong motivator. According to the Association of Superannuation Funds of Australia (ASFA), the mean super balance for a male aged between 40 to 44 years is about $108,0001. When you consider the current aged pension doesn’t kick in until 67 years and that a single person will need more than $54,2402 per year to live comfortably, the numbers speak for themselves.
Check out the table below to see how your balance stacks up against others your age.
How much money will you need
Talk about a million-dollar question! There are lots of factors which influence what this magic number could be, such as what age you want to retire at, what sort of lifestyle you have or want to have, whether you own your home, or if you still have dependants. And of course, it also depends on whether you have any other assets outside of super and if you’re eligible to receive a (part) Age Pension. Generally, ASFA research2 suggests people will need the following balance for retirement at age 67.
The balance needed for a modest lifestyle is relatively low, as it takes into consideration the Age Pension, as well as various pension supplements, and as a result both couples and singles would need the same savings. The balance required for a comfortable retirement assumes you’ll draw down on all your super and receive a part Age Pension.
How to boost your super
If you want to grow your balance faster, there are a few ways to boost your super savings. It’s also worthwhile to check if you have any lost super you’ve forgotten about, and think about combining your super if you have more than one account. You can also use online calculators or talk to your super fund to get general advice over the phone.
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You can view your balance and manage your account online. Simply grab your member number from your last statement and log in via teamsuper.com/login.
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Team Super tip: Check out the Industry SuperFunds calculator at industrysuper.com to see how much super you should have today to reach a comfortable retirement by age 67.
1 Source: An update on superannuation account balances, ASFA, October 2025, page 7
2 Source: ASFA Retirement Standard, September quarter 2025
Team Super is Team Super Pty Ltd AFS licence 246864, the trustee for the Team Superannuation Fund. Refer to the PDS and TMDs on Team Super’s website at teamsuper.com when considering if their financial products are right for you. Any financial advice in this article does not take into account your financial situation, needs or objectives, and you should consider these factors before taking any action.
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