In fact, the average account balance for women aged 15 and over is $68,499 compared to $111,853 for men*. Then making the switch will be easy. When it comes to super there's so much to consider throughout your lifetime, from joining through to retirement and anything in between. Fortunately, the Australian Government has created a new way to save for your deposit: The First Home Super Saver (FHSS) scheme. If you're starting to think more seriously that you want to boost your super balance, there are a few steps you can take to get it back on track: Whatever your age, or financial situation, it's never too late to start growing your super, and LGS is here to help. When you’re young your super has plenty of time to bounce back if your risk doesn’t pay off, so choosing a higher risk investment option could mean more saved when you finish work.
Top performing super funds on Canstar's database.

Canstar compares superannuation using a unique Star Ratings methodology that compares both cost and features across superannuation products on our database. If you can, have your tax file number (TFN) handy. By signing up, I agree to Canstar's obtaining professional financial, taxation and or legal advice tailored to your personal circumstances prior to making any financial decision. The money that is held for you within a superannuation fund is invested in a range of assets.

From April 2020, people aged under 25 do not receive default life insurance through their super when joining a new fund, unless they work in a dangerous job or write to their fund and request it. We have excluded any SMSF/corporate super accounts. While that represents over half of the total population, only 42% of us know our exact super balance, suggests research conducted by finder.com.au. Use the selector tool at the top of this page to compare super funds using our Star Ratings. Accordingly, an individual should consider their own particular circumstances, refer to the relevant Product Disclosure Statement at lgsuper.com.au and consider seeking professional personal advice before making any financial decisions. Your employer must pay at least 9.5% of your ordinary time earnings into a super fund on top of your annual salary if you are an employee in Australia and meet the minimum requirements in the Superannuation Guarantee. If you're at the phase in life where you still have some working years ahead, but you're starting to look to the future and the prospect of retirement, you might be wondering how your super compares to others your age.
Let us round it up for you. We have also compiled a list of non-rated Super funds for you to compare. You may have been prompted by your bank – in person or online – to open a super account with them. How much super do you need to retire comfortably? Eligible members aged 65... Don’t understand the difference between pre and post tax contributions? You can compare super funds and see top performing super funds on Canstar, with Superannuation Star Ratings 2020 also available as a resource to help you compare options. Contribution cut-off dates for the 2019-2020 Financial year... Making ongoing extra contributions can make a big difference to your final balance and help you maintain your lifestyle when you finish work. The information on this website is of a general nature only and does not take Search and combine multiple super accounts. You can follow her on Instagram or Twitter, or Canstar on Facebook. Multiple accounts make it harder for you to keep track of your money and means that you’re paying multiple sets of fees. It's useful to have an overall goal for your retirement savings. She’s also an experienced presenter, and has hosted numerous events and YouTube series. You can pay into your super if you are not working with voluntary non-concessional superannuation contributions. You can also read more about Canstar’s editorial team and our robust fact-checking process. 6 questions to ask when planning for retirement. Research provided by Canstar Research AFSL and Australian Credit Licence No.

Get in touch. Compare your fund's investment performance over at least five years. How does your super compare to your peers? Early super release: Can I withdraw my super early? If you’ve had more than one job, chances are you might have more than one super account. ', this ATO data shows the median super account balance by age and gender: It's worth bearing in mind that these figures are just a midpoint, and of course everyone's personal situation is different.

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