68, How Much Super Should I Have
68 for Australian property investors. Part of the How Much Super Should I Have hub on Shelby Limited, AI strategy, calculators and expert matching.
At 68, the average Australian super balance is about $400,000 and the median is $245,000. To stay on track for ASFA's comfortable single retirement of $595,000 by 67, aim for roughly $550K. Your focus now is drawdown and income.
Will an average balance at 68 be enough by 67?
At 68, accumulation has largely finished. An average balance of $400,000 drawn at the 4% to 5% minimum rate provides roughly $16,000 to $20,000 a year before any Age Pension.
Super milestones from age 68
- You passed preservation age 8 years ago, so retirement or a transition-to-retirement income stream unlocks your balance.
- You are 1 year past Age Pension age, so the focus is drawdown rate and Centrelink means testing.
- You are eligible for the downsizer contribution of up to $300,000 per person if you sell a home you have owned for 10 years or more.
- Voluntary contributions generally stop at 75, leaving 7 years of contribution runway.
What $1,000 contributed at 68 is worth later
With no years left to age 67, compounding now works on the balance you already hold. Keeping it in pension phase means investment earnings are taxed at 0%, compared with up to 15% in accumulation.
Frequently asked questions
What is the median super balance at 68 in Australia?
The median super balance at 68 is about $245,000, lower than the $400,000 average because a few large balances lift the mean. Median is the fairer comparison for most people.
How many years until I can access my super if I am 68?
You passed preservation age 8 years ago, so retirement or a transition-to-retirement income stream unlocks your balance.
How much extra should I put into super at 68?
An average balance at 68 is already projected to meet the ASFA comfortable single benchmark, so extra contributions are about lifestyle buffer and tax efficiency rather than catching up.