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The average super balance by age bracket is:

  • below 25 years of age: $7,300
  • 25-29 years of age: $23,400
  • 30-34 years of age: $46,100
  • 35-39 years of age: $74,300
  • 40-44 years of age: $102,500
  • 45-49 years of age: $132,000
  • 50-54 years of age: $165,500.1


Keep in mind it's important to recognise that your individual circumstances, such as income levels and retirement expectations, may vary.

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1Source: APRA quarterly statistics (table 7): Quarterly Superannuation Industry publication | APRA

A little extra can make a big difference to your super

Making small changes now can make a big difference to your super balance in the future. Whether you can add $5 or $500, every bit counts to building a better retirement.

Case study 1

Concessional contributions

Jacob is 42, earns $117,000 per year and has $145,000 in super. He adds $100 per fortnight through salary sacrificing until he’s 67. With these extra contributions, Jacob retires with $77,000 more in super and saves $442 in tax in the first year.

Case study 2

Non-concessional contributions

45-year-old Mary earns $92,000 a year. By topping her super up by an extra $3,000, she saves $510 on tax now. Plus, she’ll have an extra $4,000 in her super account at retirement.

  • Retirement balances are rounded to the nearest $1,000.
  • Numbers are presented in today's dollars discounted by 3.5% (assumed AWOTE).
  • Based on average Aware male member age 42 and planning to retire at age 67.
  • Based on SG of 11.5% for 2024/25. This will increase to 12% on 1 July 2025 (where it will remain at 12%). Based on 2024/25 income tax rates.
  • Investment returns are based on the Aware Super MySuper Life Cycle option, assumed to be CPI + 4% until age 55, reducing from CPI + 4% to CPI + 2.75% between the ages 55-65 (inclusive) and CPI + 2.75% from age 65 onwards.
  • CPI is assumed to be 2.5% p.a.
  • Salary Sacrifice contributions increase in line with annual salary increases of 3.5% p.a. and assumes concessional contribution caps are indexed in line with AWOTE.
  • Investment returns are assumed to be net of tax.
  • Insurance premium is assumed to be the median for members with default insurance arrangements, indexed with AWOTE of 3.5% p.a.
  • This example is for illustrative purposes only and is not intended to provide a guarantee of outcome. It is a broad illustration of the steps a member could take, but the actions appropriate for an individual will vary depending on their personal circumstances. The case study is based on current regulatory requirements and laws, including tax rates, which may be subject to change. Investment return assumptions are for illustrative purposes only and for simplicity assume an average rate of return each year throughout the investment period. Actual returns year on year may vary materially and can be negative as well. If investment returns/inflation are higher/lower, final balances will differ.
  • Retirement balances are rounded to the nearest $1,000.
  • Numbers are presented in today's dollars discounted by 3.5% (assumed AWOTE).
  • Based on average Aware female member age 45 and planning to retire at age 67.
  • Based on SG of 11.5% for 2024/25. This will increase to 12% on 1 July 2025 (where it will remain at 12%).
  • Based on 2024/25 income tax rates.
  • Investment returns are based on the Aware Super MySuper Life Cycle option, assumed to be CPI + 4% until age 55, reducing from CPI + 4% to CPI + 2.75% between the ages 55-65 (inclusive) and CPI + 2.75% from age 65 onwards.
  • CPI is assumed to be 2.5% p.a.
  • Insurance premium is assumed to be the median for members with default insurance arrangements, indexed with AWOTE of 3.5% p.a.
  • This example is for illustrative purposes only and is not intended to provide a forecast or guarantee on outcome. It is a broad illustration of the steps a member could take, but the actions appropriate for an individual will vary depending on their personal circumstances.
  • The case study is based on current regulatory requirements and laws, including tax rates, which may be subject to change. Investment return assumptions are for illustrative purposes only and for simplicity assume an CPI plus investment objectives as the return each year throughout the investment period. Actual returns year on year may vary materially and could be negative. If investment returns/inflation are higher/lower, final balances will differ.

Grow your super

It’s never too early or too late to boost your super balance. Even a small contribution now, can make a big difference for your tomorrow.*

There are two types of voluntary contributions you can make to boost your balance.

A concessional contribution is a before tax contribution that goes direct to your super account, like the super you get paid by your employer, or if you salary sacrifice.

These contributions are capped at $30,000 per year and you only pay 15% tax on investment earnings, instead of up to 47%, depending on your salary. ^

To set up salary sacrifice, simply send your employer an email, or complete and hand them a salary sacrifice form.


Make a concessional contribution

To make a before tax contribution:

Non-concessional contributions are contributions you can make from your take-home pay. This is an after-tax contribution, because your employer has already taken out the tax you need to pay on your income. This type of contribution is capped at $120,000 a year. You can also claim a tax deduction on these contributions.*

If you’d like some support on this, our team can answer questions about your account at no extra cost[AD2] over the phone or on a video call.
 

Make a non-concessional contribution

To make an after-tax contribution, you can use:

  • Direct debit
  • BPAY®
  • The Aware Super app


Add to your super:

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Download the app


®Registered to BPAY Pty Ltd (ABN 69 079 137 518)

Build your super with My Retirement Planner™

More than just a calculator, My Retirement Planner can make a real difference to your future. Whether retirement’s 2 or 20 years away, keep your super on track and get you where you want to be:

  • See how much you may need to retire
  • Check your score to see how close you are to your goals
  • Get a tailored step-by-step action plan


Get started now.

My Retirement Planner

*Before contributing, consider the relevant superannuation thresholds including the current annual limit for all before-tax contributions and after-tax contributions. Exceeding any of these thresholds, may reduce any tax benefits you could receive. For further information see aware.com.au/grow.

^Salary sacrifice will save tax in many but not all circumstances and will cause a reduction in your take home pay. Before contributing, consider the relevant superannuation thresholds including the current annual limit for all before-tax contributions and after-tax contributions. Exceeding any of these thresholds, may reduce any tax benefits you could receive. Visit Grow your super.

[AD2] Members can get advice about their Aware Super accounts at no extra cost, or advice on their broader needs for a fee. Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430), wholly owned by Aware Super.