Average superannuation balance for 56 vs 66 year olds in 2026. How does yours compare?

Are you looking forward to living a comfortable retirement lifestyle but aren't sure whether your superannuation is on track to get you there?

Or perhaps you want to find out the superannuation balance you'd need to maintain a good standard of living, do some regular activities, meals out, and perhaps even an occasional overseas trip.

Here's a rundown of what the average Aussie has in their super at 56 and 66 years old, and what you'd need at each age to have enough for retirement.

Find out how yours compares.

How much superannuation does the average Australian have at age 56?

There isn't an exact figure for the average superannuation balance at age 55, but the Association of Superannuation Funds of Australia (ASFA) has a good guideline.

ASFA's data shows that at age 55 to 59, the average Australian male has around $319,743 in superannuation. The average female in the same age bracket has approximately $242,945.

How much superannuation does the average Australian have at age 66?

The average 65 to 69-year-old Australian male has an average superannuation balance of $448,518, and women have around $392,274.

Age 56 versus age 66: Why is the gap so wide?

The difference between super balances at age 56 versus age 66 is significant. 

Over the 10-year period, average balances increase by up to $150,000.

It could be that these individuals have had more time to add additional contributions to their superannuation balance. 

But it also shows the importance of compounding. It's clear that accumulating wealth early on, investing in a well-performing fund, and at a risk profile that suits your own, can supercharge your balance down the line.

Are these average balances enough to retire on?

No. In fact, the average Australian is quite far behind.

ASFA estimates that it'll cost single Australians around $55,923 per year. It'll cost couples living together closer to $78,566 per year in total.

These figures also assume you'll start your retirement at age 67. It also assumes that you'll receive a part Age Pension around this time and that you own your home outright.

In order to fund this type of comfortable retirement, ASFA calculates that single Australians will need around $630,000 in their superannuation at age 67. Meanwhile, couples will need around $730,000 combined at the same age.

Ok, so how much do Aussies need in their superannuation by age 56 and 66 to be on track?

Using ASFA's Super Balance Detective tool, I've calculated what you'd need at ages 56 and 66 to reach that sum.

At age 56, you need around $416,000 in your superannuation.

At age 66, this should be more like $618,500 in order to live comfortably when the time comes. 

As you'll see. These sums are significantly higher than the average at each age milestone.

And this means you'll need to bridge the gap another way.

It's a good idea to start by making additional contributions. You can take advantage of additional concessional or non-concessional contributions, whether this is via salary sacrificing or by making after-tax payments (within your annual limits).

Government initiatives (if eligible) could also help bridge the gap between the superannuation balance you have and what you need.

The post Average superannuation balance for 56 vs 66 year olds in 2026. How does yours compare? appeared first on The Motley Fool Australia.

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026