The average super balance at 60 in Australia is approximately $370,000 for men and $260,000 for women, according to APRA data. For couples, the combined average is around $630,000. However, the median balance is significantly lower meaning more than half of Australians approaching retirement have less than the average suggests.
Knowing where you stand compared to these benchmarks is the first step in retirement planning. But averages only tell part of the story what matters more is whether your balance, combined with the Age Pension and any other savings, can sustain the retirement lifestyle you want for 25–30 years.
Let’s break it down with the latest data so you can see exactly where you stand.
What Is the Average Super Balance at 60 in Australia?
According to data published by the Australian Prudential Regulation Authority (APRA), the average super balance at age 60 in Australia is approximately:
- Men: around $370,000
- Women: around $260,000
- Couples combined: around $630,000
These are averages, which means many Australians have significantly less and some have significantly more. The median (the middle point, where half of people have less and half have more) is lower still, typically around $250,000–$300,000 for individuals.
If you’re sitting near $600,000–$630,000 in super at 60, you’re already above the average and in a stronger position than many Australians approaching retirement.
Why Is the Average Super Balance at 60 Lower Than Expected?
Many people assume most Australians retire with $800,000 or $1 million in super. In reality, the average is much lower. Several factors contribute to this gap.
Career breaks for parenting or caring responsibilities reduce contribution years. Part-time work means lower employer contributions. Late starts to super, particularly for older Australians who didn’t benefit from compulsory super until it was introduced in 1992, leave less time for compound growth. Rising living costs also make it harder to make voluntary contributions.
Women are disproportionately affected. According to the Workplace Gender Equality Agency, the gender pay gap and time out of the workforce for caring responsibilities mean women retire with approximately 25–30% less super than men on average.
That’s why comparing yourself only to averages can be misleading. What matters more is how long your super will last in retirement and how it fits alongside the Age Pension.
How Much Super Do You Actually Need at 60?
The average tells you where other Australians are. The benchmarks tell you where you should aim.
According to the ASFA Retirement Standard (February 2026), the recommended super balances at age 67 for a comfortable retirement are:
- Singles: approximately $630,000
- Couples: approximately $730,000
These figures assume you own your home outright and will receive some Age Pension support. They target annual retirement spending of approximately $54,840 for singles and $77,375 for couples enough for private health insurance, a reliable car, regular dining out, domestic holidays, and an occasional overseas trip.
If you’re 60 with a balance near these benchmarks, you’re in a solid position especially since your super still has 5–7 years of potential growth before you reach Age Pension age at 67.
If your balance is below these targets, that doesn’t mean a comfortable retirement is out of reach. It means structuring your income, contributions, and Age Pension eligibility carefully becomes even more important.
Super Balance at 60: Where Do You Stand?
| Your Balance at 60 | How It Compares | Likely Retirement Outcome | Key Action |
|---|---|---|---|
| Under $200,000 | Well below average | Will likely rely heavily on the Age Pension from 67. Modest lifestyle possible with careful budgeting. | Maximise remaining contributions, consider downsizer contribution, plan Age Pension timing |
| $200,000–$350,000 | Around the median | Combination of super and partial Age Pension. Comfortable if you own your home outright. | Review investment mix, consolidate super accounts, plan drawdown strategy |
| $350,000–$500,000 | Above median, below ASFA benchmark | Solid foundation. May qualify for partial Age Pension. More flexibility than most. | Optimise contribution strategy, consider TTR if still working |
| $500,000–$630,000 | Above average, approaching ASFA comfortable benchmark | Well-positioned for a comfortable retirement. Partial Age Pension likely from 67. | Fine-tune drawdown strategy, plan tax-efficient withdrawals |
| $630,000–$800,000 | Above ASFA comfortable benchmark (singles) | Strong position. Greater flexibility on timing, spending, and lifestyle. | Focus on structure, tax optimisation, pension vs lump sum, estate planning |
| $800,000+ | Well above average | Significant flexibility. May have limited or no Age Pension eligibility depending on assets. | Consider SMSF, tax strategies, aged care planning, and estate structuring |
Is the Average Super Balance Enough to Retire On?
For most Australians, the average super balance alone is not enough to fund a comfortable retirement lasting 25–30 years.
This is where the Age Pension becomes essential. As of 2026, the maximum full Age Pension is approximately $1,178.70 per fortnight for singles and $1,777.00 for couples (combined). From age 67, many retirees with average super balances qualify for a partial or full pension, which helps cover basic living costs and reduces the drawdown pressure on superannuation.
In practice, retirement income in Australia often works like this:
- Age 60–67: Superannuation funds the early years of retirement (since the Age Pension isn’t available until 67)
- Age 67 onwards: A combination of super income and the Age Pension creates a more sustainable total income
- Later years: As super balances reduce, Age Pension payments may increase (since eligibility is means-tested)
This is why the structure and timing of your withdrawals matters just as much as the balance itself. Drawing down too quickly in your early 60s can leave you financially exposed in your 70s and 80s.
In our experience advising 500+ Australian families, the clients who feel most confident in retirement are not necessarily the ones with the highest super balances, they’re the ones who have a clear plan for how their income will work across each phase of retirement.
How Does $600K in Super Compare at Age 60?
If you have around $600,000 in super at age 60, you are in a much stronger position than the average Australian.
A $600,000 super balance can typically support:
- Approximately $24,000–$30,000 per year using a sustainable 4–5% withdrawal rate
- A retirement lasting 20–25 years, depending on spending, investment returns, and inflation
- Partial Age Pension eligibility from age 67, which supplements your super income
However, $600,000 is just below the current ASFA comfortable retirement benchmark for singles ($630,000). If you’re 60 with $600K, you still have time to close that gap through continued employer contributions, voluntary top-ups, or salary sacrifice. The ATO super contribution caps page explains the current limits for concessional ($30,000) and non-concessional ($120,000) contributions.
For couples with a combined $600,000–$630,000, the position is more nuanced. The ASFA benchmark for couples is $730,000, so there may be a gap to address, but the Age Pension can fill a significant portion of that shortfall if your assets are structured correctly.
What If My Super Is Below the Average at 60?
If your super balance at 60 is below the average, retirement is not impossible. Many Australians retire comfortably with lower balances by combining several income sources and planning carefully.
Strategies that help include:
- Maximising contributions in your final working years you may be able to contribute up to $30,000 per year in concessional contributions, reducing your tax while boosting super
- Using the downsizer contribution if you’re 55 or older and sell your home, you can contribute up to $300,000 per person into super outside the normal contribution caps
- Qualifying for the Age Pension lower super balances often mean higher Age Pension entitlements from age 67
- Working part-time through your early 60s even modest income during a transition to retirement can significantly extend your savings
- Budgeting carefully understanding your actual retirement spending needs often reveals that you need less than you feared
What matters most is having a plan not a panic.
The Gender Super Gap at 60
| Metric | Men | Women | Gap |
|---|---|---|---|
| Average super balance at 60 | ~$370,000 | ~$260,000 | ~$110,000 (30%) |
| Average retirement age | 65.4 years | 64.3 years | Women retire ~1 year earlier |
| Key contributing factors | Higher lifetime earnings, fewer career breaks | Gender pay gap (~21%), career breaks for caring, higher part-time rates | Compounds over 30+ working years |
| ASFA comfortable benchmark (singles) | $630,000 | $630,000 | Same target, but women start further behind |
What If My Super Is Above the Average at 60?
If your super is above the average at 60, you have more flexibility and control over how you retire.
You may be able to retire earlier than 67, spend more confidently in the early years, reduce your reliance on the Age Pension, and plan for healthcare and lifestyle costs more easily.
But even with higher balances, strategy still matters. Overspending in the first 5–10 years of retirement, poor investment allocation, or failing to optimise tax can shorten your retirement income significantly. A super balance of $800,000 can run out faster than a well-structured $500,000 if there’s no plan behind it.
The Gender Super Gap at 60
The gap between men’s and women’s super balances at 60 remains one of the most significant issues in Australian retirement planning.
With men averaging approximately $370,000 and women approximately $260,000, there is a gap of roughly $110,000 driven by the gender pay gap, career breaks for caring, and higher rates of part-time work among women.
The Workplace Gender Equality Agency reports that women earn approximately 21% less than men on average, and this compounds over a working lifetime into significantly lower super balances.
For women approaching retirement with below-average super, strategies like maximising remaining contribution years, utilising spouse contributions, and understanding Age Pension entitlements become especially important. The Moneysmart super calculator can help you project your balance at retirement based on your current trajectory.
Learn More About Retirement Planning
If you’re wondering how the broader retirement system works in Australin including when you can access super, how the Age Pension fits in, and what your options are our comprehensive guide on how retirement works in Australia explains everything in plain English.
FAQs: Average Super Balance at 60 in Australia
The average super balance at age 60 is approximately $370,000 for men and $260,000 for women, according to APRA data. For couples, the combined average is roughly $630,000. However, the median is lower meaning more than half of Australians have less than the average.
For most Australians, the average super balance alone is not enough for a comfortable retirement lasting 25–30 years. The ASFA Retirement Standard (February 2026) recommends approximately $630,000 for singles and $730,000 for couples. However, the Age Pension supplements income from age 67, which helps bridge the gap.
A super balance of $600,000 at age 60 is above the national average and close to the ASFA comfortable retirement benchmark for singles ($630,000). It generally provides more flexibility, better lifestyle options, and a stronger buffer before relying on the Age Pension.
Career breaks, part-time work, late starts to compulsory super (introduced in 1992), the gender pay gap, caring responsibilities, and rising living costs all contribute to lower-than-expected balances. Women are particularly affected, retiring with approximately 25–30% less super than men on average.
Yes. Many Australians retire with below-average super balances by combining superannuation with the Age Pension, budgeting carefully, using downsizer contributions, and working part-time during their early 60s. Planning and structure matter more than the raw number.
No. The average super balance reflects personal superannuation savings only. The Age Pension is a separate government payment available from age 67, subject to income and asset tests. For many retirees, the combination of super and the Age Pension provides a sustainable total income.
According to the ASFA Retirement Standard (February 2026), you need approximately $630,000 as a single person or $730,000 as a couple for a comfortable retirement at age 67, assuming you own your home and receive some Age Pension support. This provides annual spending of approximately $54,840 for singles and $77,375 for couples.
How Wealthlab Helps You Plan Beyond the Average
At Wealthlab, we help Australians turn their super balance into a clear retirement plan whether you’re below, at, or above the average.
We help you understand how long your super will last, plan retirement income around superannuation and the Age Pension, create realistic spending strategies, and build confidence around the decisions that matter most.
You don’t need to guess where you stand. You need clarity.
Book a free retirement strategy session and find out what your super balance really means for your retirement future.