Skip to Content

Where is this data from?

DBM Consultants

SuperSizer uses data provided by DBM Consultants from the Consumer Atlas syndicated program, Australia's largest research program dedicated to financial services (DBM Consultants). 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 2021.

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: 16 Apr 2021), Super, Australian Government, accessed 04 May 2021, https://www.ato.gov.au/Individuals/Super/
  2. Canstar, (November 6, 2019), Here’s how much super Aussies need in their accounts right now to retire comfortably, accessed on 30 June 2020, https://www.canstar.com.au/superannuation/how-much-super-for-retirement/
  3. Secrets & Lies: Chapter Three: Ageless & Booming Report, August 2019, WPP AUNZ agency, accessed on 26 March 2021,
    https://www.wppaunz.com/en/Insights/Secrets-and-Lies/Chapter-Three
  4. Australian Taxation Office, (Last modified: 11 Mar 2021), Retiring, Australian Government, accessed 25 March 2021,
    https://www.ato.gov.au/Individuals/Super/#Retiring
  5. Australian Taxation Office, (Last modified: 31 Mar 2021), Super guarantee percentage, Australian Government, accessed 22 April 2021,
    https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/?anchor=Superguaranteepercentage
  6. Australian Taxation Office, (Last modified: 06 Aug 2019), Employees, Australian Government, accessed 03 June 2020,
    https://www.ato.gov.au/individuals/super/getting-your-super-started/employees/
  7. MoneySmart.gov.au, (2021), Super contributions, ASIC - Australian Government, accessed 04 May 2021,
    https://moneysmart.gov.au/grow-your-super/super-contributions
  8. Australian Taxation Office, (Last modified:18 Mar 2021), Super data: multiple accounts, lost and unclaimed super, Australian Government, accessed 22 April 2021, https://www.ato.gov.au/About-ATO/Research-and-statistics/In-detail/Super-statistics/Super-accounts-data/Multiple-super-accounts-data/
  9. Australian Bureau of Statistics, (2019, 30 October), Life expectancy continues to improve, [media release], accessed 03 June 2020,
    https://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/3302.0.55.001Media%20Release12016-2018?opendocument&tabname=Summary&prodno=3302.0.55.001&issue=2016-2018&num=&view=
  10. MoneySmart.gov.au, (2020), Super Investment Options, Australian Government, accessed 11 June 2020,
    https://moneysmart.gov.au/grow-your-super/super-investment-options
  11. Australian Taxation Office (2019), Super from your employer, Australian Government, viewed 03 June 2020,
    https://www.ato.gov.au/individuals/super/growing-your-super/super-from-your-employer/
  12. Australian Taxation Office, (Last modified: 11 Mar 2021), Adding to your super, Australian Government, accessed 25 March 2021,
    https://www.ato.gov.au/Individuals/Super/#Addingtoyoursuper
  13. Australian Bureau of Statistics, (released 8/05/2020), Retirement and Retirement Intentions, Australian Government, accessed 26 March 2021, https://www.abs.gov.au/statistics/labour/employment-and-unemployment/retirement-and-retirement-intentions-australia/2018-19
  14. Australian Bureau of Statistics (15 December 2020), based on median data of superannuation balances for Australians aged 55-64, Gender Indicators, Australia, accessed 24 March 2021, https://www.abs.gov.au/statistics/people/people-and-communities/gender-indicators-australia/latest-release#key-statistics
  15. Australian Taxation Office, (Last modified: 26 Mar 2021), Super co-contribution, Australian Government, accessed 04 May 2021,
    https://www.ato.gov.au/Individuals/Super/In-detail/Growing-your-super/Super-co-contribution/
  16. NAB Economics, Q1 2020, NAB, accessed 01 March 2020,
    https://business.nab.com.au/nab-australian-wellbeing-report-q1-2020-part-2-39354/
  17. Australian Bureau of Statistics, (2020), 6238.0 - Retirement and Retirement Intentions, Australia, 2018-19, accessed 09 June 2020, https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6238.0Main+Features12018-19?OpenDocument
  18. Australian Taxation Office, (Last modified: 21 Aug 2020), Downsizing contributions into superannuation, Australian Government, https://www.ato.gov.au/Individuals/Super/Growing-your-super/Adding-to-your-super/Downsizing-contributions-into-superannuation/?=redirected_Downsizing
  19. Australian bureau of Statistics, (released: 4 Nov 2020), Life tables, Australian Government, accessed 05 May 2021,
    https://www.abs.gov.au/statistics/people/population/life-tables/2017-2019
  20. Moneysmart.gov.au, How much super you need, accessed 04 May 2021,
    https://moneysmart.gov.au/grow-your-super/how-much-super-you-need