URGENT UPDATE: New data from the Association of Superannuation Funds of Australia (ASFA) has just been released, revealing startling truths about Australians’ superannuation balances across various age groups. As of November 18, 2025, many individuals may not be prepared for a comfortable retirement, with average savings falling short of the necessary benchmarks.
The report shows that superannuation balances increase with age, but the numbers may shock many. For instance, Australians aged 18–24 only hold an average balance of $8,163 for women and $9,062 for men. By the late 20s, these figures barely rise, reaching just $24,821 for women and $27,021 for men.
As Australians move into their 30s, balances start to climb more significantly. Those aged 30–34 average $46,586 for women and $55,690 for men. This trend continues, hitting $76,020 for women and $96,122 for men in their late 30s.
However, as retirement approaches, the average balances still lag behind. Australians aged 60–64 average $313,360 for women and $395,852 for men, which is below the ASFA’s recommended $595,000 for a single retiree and $690,000 for couples looking to maintain a comfortable lifestyle.
According to ASFA, a comfortable retirement means having enough funds for private health insurance, leisure activities, and travel. In stark contrast, a modest retirement only requires around $100,000, which covers basic living costs but limits lifestyle options.
The implications are clear: most single Australians are falling short of the necessary superannuation to retire comfortably, while couples are faring better. This gap highlights the urgent need for individuals to assess their financial plans and take action early to ensure they can meet their retirement goals.
NEXT STEPS: It is crucial for Australians to evaluate their superannuation balance against these benchmarks. Understanding where you stand compared to the average can motivate proactive financial planning. The earlier you rectify the gap between your current balance and the comfortable retirement target, the more options you will have to secure your financial future.
This report serves as a wake-up call for many across Australia. With retirement looming for millions, it is imperative to take immediate action to bridge the superannuation gap.
Stay informed and take control of your financial destiny. Share this information to help others understand the crucial steps needed for a secure retirement.
