Here's the average Australian superannuation balance at age 60

How does your balance stack up against the average?

Hitting 60 is a milestone that often brings retirement planning into sharp focus. With only a few years left until the pension age of 67, Australians in this bracket are beginning to seriously evaluate whether their superannuation savings will deliver the lifestyle they want in retirement. But how much super does the average 60 year old actually have? And more importantly, is it enough?

What is the average super balance at 60?

While there's no precise figure for someone aged 60, data from a superannuation provider gives us a clear range by looking at nearby age groups. For Australians aged 55–59, women average a specific amount in superannuation and men average a higher amount. That figure jumps for the 60–64 age group, with women and men both seeing a significant increase. From this, it's fair to assume the average 60 year old's balance sits somewhere within these ranges.

That's a healthy increase from balances in the 50s, but whether it is enough for retirement is another question entirely.

What do you need?

There are two types of retirement according to a financial planning association. One is a comfortable retirement, and the other is a modest lifestyle. The savings required to achieve a comfortable retirement is a certain amount for a couple and a different amount for a single, whereas a modest retirement requires a much lower amount.

A comfortable retirement is defined as follows by the association:

The comfortable retirement standard allows retirees to maintain a good standard of living in their post-work years. It accounts for daily essentials, such as groceries, transport and home repairs, as well as private health insurance, a range of exercise and leisure activities and the occasional restaurant meal. Importantly it enables retirees to remain connected to family and friends virtually – through technology, and in person with travel.

On the other hand, a modest retirement lifestyle is considered to be better than the age pension, but still only allows for the basics.

Is the average balance on track for retirement?

Using a superannuation calculator, the average single 60 year old female with a certain amount in super and a salary would have a larger amount at pension age. And the average single 60 year old male with a higher super amount and the same salary would also end up with a larger amount.

This means that on a standalone basis, the average 60 year old Aussie is going to fall short of a comfortable retirement. However, the average couple is well ahead of what is required.

What if your balance is lower than average?

Falling short of the average balance at 60 doesn't necessarily spell disaster. Many Australians continue contributing to super well into their mid-60s, and even a few extra years of compounding can make a big difference.

It may also be worth exploring ways to top up super through salary sacrifice, voluntary after-tax contributions, or by reviewing your investment option to ensure it matches your time horizon. And if you're concerned your fund's returns are lagging, comparing long-term performance against industry averages could be an important step.

Key takeaway

Knowing where the average sits at age 60 gives you a useful benchmark — but averages don't tell the whole story. What really matters is whether your balance, along with other assets and income streams, will provide the retirement lifestyle you want.

With just a few years left before pension age, it is crunch time. Now is the moment to check your balance, set realistic goals, and make any final adjustments to put yourself in the best position for life after work.

Source: Motley Fool Australia. Here’s the average Australian superannuation balance at age 60 (author not specified), 21 August 2025. The Motley Fool Australia

If you wish to learn more please give us a call or book a time to visit us at our Adelaide Based Offices or give us a call on 08 7477 8252.

General Advice Warning:

The information on this website is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making an investment decision in relation to a financial product.