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Do you ever think about your superannuation balance?

Ever looked it up?

Perhaps you’re concerned about the impact fees and stock market volatility may be having on superannuation funds across Australia?

For the purpose of wealth accumulation, saving for and funding retirement, there are few - if any - investment vehicles better than superannuation in Australia.

Because superannuation is a long-term investment strategy it can be a distant thought for some people.

However, how engaged you are with your superannuation can help you make the most of it for your future.

So, let’s start with your superannuation balance.

The chart below from The Association of Superannuation Funds of Australia (ASFA) provides an interesting snapshot of the average Australian super balance by age.





Calculated Average

25 – 29




30 – 34




35 – 39




40 – 44




45 – 49




50 – 54




55 – 59




60 – 64




Want to look into your individual circumstances further?

MoneySmart (a Federal Government website, brought to you by the Australian Securities and Investments Commission – ASIC) has a Superannuation Calculator which you can use to calculate how much super you will have when you retire, and to look at the way fees affect your final super balance.

You’ll find it here.

Looking at these details you may be asking yourself, how can I increase by superannuation balance?

Here’s just two of the options you have:


Consolidate your super accounts; if you’ve had multiple jobs across different organisations, or worked casually in the past, you may have multiple super accounts which means you could be paying more fees than you need to. By bringing them all together you could boost your balance and minimise costs.


Where possible, make additional contributions to your super fund; this can be in the form of salary sacrifice (which lowers your taxable income), tax-deductible contributions, or after-tax personal contributions. Even if they seem like small amounts, it will add up over time.

If you’d like to chat all things superannuation and how to maximise this long-term investment make an appointment with the team at Hub Advisory Group, we’d love to help.

02 4926 8000 275A Hunter Street Newcastle NSW 2300

And if you’d like to read our other blogs on superannuation, you can find them here:

Why superannuation works

SUPERANNUATION: Which is the best super fund?

Age Pension Age vs Age to Access Super: What’s the difference?

Using super to buy a first home

Will I have enough to retire?

This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

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