Where is this data from?

SuperSizer uses data provided by from DBM Atlas (part of RFI Global), Australia's largest research program dedicated to financial services. Benchmark results for Your Peers is based on survey data estimates from over 30,000 interviews of Australians aged 18 and over with superannuation, for the 12 months to May 2024.

The average super savings shows the average dollar balance held in superannuation among Your Peers, based on this survey data (excluding SMSF and government funds). The average super savings of Your Peers is simply the average based on survey data and there is no suggestion that if your superannuation balance is currently equal to or greater than this average, that you will have sufficient funds to meet your future retirement needs.

The peer comparison and commentary is intended to provide a general illustration only and does not aim to provide advice as to what your current superannuation situation should be, nor can it predict any person's future retirement needs.

References

1. Australian Taxation Office, (Last modified: 02 Aug 2023), What is super, https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/what-is-super
2. Association of Superannuation Funds of Australia, (Last modified: 12 Mar 2024), Retirement Standard, ASFA Retirement Standard, https://www.superannuation.asn.au/resources/retirement-standard/
3. MoneySmart, (Accessed: 21 Mar 2024), How much super you need, https://moneysmart.gov.au/grow-your-super/how-much-super-you-need
4. Australian Taxation Office, (Last modified: 02 Aug 2023), Super withdrawal options, https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/withdrawing-and-using-your-super/super-withdrawal-options
5. Australian Taxation Office, (Last modified: 20 Mar 2024), Super guarantee, https://www.ato.gov.au/tax-rates-and-codes/key-superannuation-rates-and-thresholds/super-guarantee
6. MoneySmart, (Accessed: 21 Mar 2024), Super contributions, https://moneysmart.gov.au/grow-your-super/super-contributions
7. Australian Taxation Office, (Last modified: 05 Mar 2024), Trend towards single accounts, https://www.ato.gov.au/about-ato/research-and-statistics/in-detail/super-statistics/super-accounts-data/super-data-lost-unclaimed-multiple-accounts-and-consolidations/trend-towards-single-accounts
8. Australian Bureau of Statistics, (Released: 08 Nov 2023), Life expectancy, https://www.abs.gov.au/statistics/people/population/life-expectancy/latest-release
9. MoneySmart, (Accessed: 21 Mar 2024), Super investment options, https://moneysmart.gov.au/grow-your-super/super-investment-options
10. Australian Taxation Office, (Last modified: 26 May 2021), Super for employees working overseas – certificate of coverage, https://www.ato.gov.au/businesses-and-organisations/super-for-employers/work-out-if-you-have-to-pay-super/super-for-employees-working-overseas-certificate-of-coverage
11. Australian Taxation Office, (Last modified: 02 Aug 2023), Options for adding to your super, https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/how-to-save-more-in-your-super/options-for-adding-to-your-super
12. KPMG, (Released: Aug 2021), Addressing the gender superannuation gap, https://kpmg.com/au/en/home/insights/2021/08/gender-superannuation-gap.html
13. Australian Taxation Office, (Last modified: 02 Aug 2023), Super co-contribution, https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/how-to-save-more-in-your-super/government-super-contributions/super-co-contribution
14. Australian Institute of Health and Welfare, (Last modified: 28 Jun 2023), Older Australians, Employment and work, https://www.aihw.gov.au/reports/older-people/older-australians/contents/employment-and-work
15. Australian Taxation Office, (Last modified: 02 Aug 2023), Downsizer super contributions, https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/how-to-save-more-in-your-super/downsizer-super-contributions
16. Australian Taxation Office, (Last modified: 02 Aug 2023), Choosing a super fund, https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/choosing-a-super-fund
17. Australian Bureau of Statistics, (Accessed: 21 Mar 2024), Gender indicators, https://www.abs.gov.au/statistics/people/people-and-communities/gender-indicators