Age. 5 min read The balances for those nearing retirement were better, but still short. 4 min read. 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 taxation data from 2016-17 released by the Australian Tax Office, the postcode 3944 is at the top of the list. 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. Source: Association of Superannuation Funds of Australia, Superannuation account balances by age and gender 2015-16, October 2017, pg. * 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. Asset allocation doesn’t matter For example, the average balance for men aged 50 to 54 is $172,126 while for women in … 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. Watch out if you don't own your own home in retirement. Covering the Victorian suburb of Portsea and its surrounds, the postcode has an average super balance of over $1.48 million. 23,712: 19,107 Super contributions optimiser. $70,000 for a couple will require a super balance of around $1,500,000. Super for self-employed people. 2 min read. Nonetheless, Australians’ super balances mostly fall well short of even half a million dollars. Women are in a particularly bad position, with Gen X women typically having substantially lower super balances than Gen X men. Choose the right investment options for you. Does your super stand up to the test? 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. A single person will need about $50,000 a year, and a super pot of $780,000. 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. 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. 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. 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. Super contributions. Super investment options. 5,924: 5,022. 25 to 29 years. Renters need more. 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