Project your super balance at retirement with the 12% Super Guarantee rate (effective July 1, 2026). Compare voluntary contribution scenarios.
A 35-year-old earning A$90,000 with A$50,000 current super balance will have approximately A$813,000 at retirement age 67, based on 12% SG and 7% average return. Adding just A$50/week in voluntary contributions boosts this to approximately A$1,030,000 — an extra A$217,000 from compound growth.
The Super Guarantee has increased gradually from 9.5% to the final rate of 12%, reached on July 1, 2026.
| Financial Year | SG Rate | Status |
|---|---|---|
| 2021-22 | 10% | Completed |
| 2022-23 | 10.5% | Completed |
| 2023-24 | 11% | Completed |
| 2024-25 | 11.5% | Completed |
| 2025-26 | 11.5% | Completed |
| 2026-27 (current) | 12% | ✅ Now in effect (from 1 July 2026) |
How much super you could accumulate by retirement based on different starting ages, assuming A$90,000 salary, 12% SG, 3% salary growth, and 7% average annual return.
| Starting Age | Current Balance | Super at 67 | Monthly Retirement Income |
|---|---|---|---|
| 25 (42 years) | A$10,000 | A$1,410,000 | A$4,700/mo |
| 30 (37 years) | A$30,000 | A$1,080,000 | A$3,600/mo |
| 35 (32 years) | A$50,000 | A$813,000 | A$2,710/mo |
| 40 (27 years) | A$80,000 | A$630,000 | A$2,100/mo |
| 45 (22 years) | A$120,000 | A$510,000 | A$1,700/mo |
| 50 (17 years) | A$180,000 | A$420,000 | A$1,400/mo |
Based on 7% average return, 3% salary growth, 12% SG. Monthly retirement income estimated at 4% drawdown rate. Actual results will vary.
| Extra Voluntary | Super at 67 | Extra Growth | Monthly Retirement Income |
|---|---|---|---|
| A$0/week (SG only) | A$813,000 | — | A$2,710/mo |
| A$25/week | A$920,000 | +A$107,000 | A$3,070/mo |
| A$50/week | A$1,030,000 | +A$217,000 | A$3,430/mo |
| A$100/week | A$1,245,000 | +A$432,000 | A$4,150/mo |
| A$200/week | A$1,680,000 | +A$867,000 | A$5,600/mo |
Extra contributions assumed as non-concessional (after-tax). Compound growth magnifies small weekly amounts over decades.
Superannuation (super) is Australia's compulsory retirement savings system. From July 1, 2026, employers are required to contribute 12% of your ordinary time earnings to your super fund — this is the Super Guarantee (SG) and represents the final step in the legislated increase from 9.5%. The SG is paid on top of your salary, not deducted from it.
You can also make voluntary contributions to boost your super. Concessional (pre-tax) contributions — including salary sacrifice and personal deductible contributions — are capped at A$30,000 per year (this includes your employer's SG contributions). Non-concessional (after-tax) contributions are capped at A$120,000 per year. If your total super balance is under A$500,000, you may be able to carry forward unused concessional cap amounts from up to 5 previous years.
Super funds invest your money across a mix of shares, property, bonds and cash. The average balanced super fund has returned around 7–8% per year over the long term, though returns vary significantly year to year. You can generally access your super when you reach your preservation age (60 for most people) and have retired, or when you turn 65 regardless of employment status.
Starting with A$50,000 in super at age 35 and earning A$90,000, your employer contributes A$10,800/year (12% SG). With 3% annual salary growth and 7% average returns, you'd accumulate approximately A$813,000 by age 67. Adding just A$50/week in voluntary contributions boosts this to roughly A$1,030,000 — an extra A$217,000 thanks to compound growth. Use our Australia Salary Calculator to see your after-tax take-home pay alongside super contributions.
| Contribution Type | Annual Cap | Tax Rate | Notes |
|---|---|---|---|
| Concessional (pre-tax) | A$30,000 | 15% | Includes employer SG + salary sacrifice + personal deductible |
| Non-concessional (after-tax) | A$120,000 | 0% (already taxed) | Bring-forward rule: up to A$360,000 over 3 years if under 75 |
| Co-contribution (low income) | A$500 govt match | 0% | Income under A$58,445 — govt adds 50c per $1 you contribute |
| Spouse contribution | A$3,000 | Tax offset up to $540 | Spouse income under A$40,000 |
The Super Guarantee (SG) rate is 12% from July 1, 2026 (2026-27 financial year). This is the final step in the legislated increase from 9.5%. Your employer must contribute 12% of your ordinary time earnings to your super fund on top of your salary.
ASFA benchmarks suggest: at age 30 approximately A$60,000–$80,000, at age 40 approximately A$150,000–$200,000, at age 50 approximately A$300,000–$400,000, and at age 60 approximately A$500,000–$650,000. These vary based on your salary, contribution history and retirement goals.
You can access your super when you reach your preservation age (60 for people born after July 1, 1964) and have retired, or when you turn 65 regardless of employment status. Early access is only available in very limited hardship circumstances approved by the ATO.
The concessional (pre-tax) contribution cap is A$30,000 per year (including employer SG). The non-concessional (after-tax) cap is A$120,000 per year. You may be able to carry forward unused concessional cap amounts from up to 5 previous years if your total super balance is under A$500,000.
Super contributions are taxed at 15% (concessional contributions). Investment earnings within super are also taxed at 15%. When you withdraw super in retirement (after age 60), it is generally tax-free. High-income earners (income + concessional super contributions over A$250,000) pay an additional 15% Division 293 tax.
According to ASFA's Retirement Standard, a comfortable retirement requires approximately A$690,000 for a single person and A$795,000 for a couple at age 67. A modest retirement requires approximately A$100,000 for a single and A$150,000 for a couple (supplemented by the Age Pension).
Your super is paid to your nominated beneficiaries (binding or non-binding nomination) or to your estate if no valid nomination exists. Tax-free dependants (spouse, children under 18) receive the benefit tax-free. Non-dependant beneficiaries may pay tax on the taxable component of the super death benefit.
From July 1, 2026, the mandatory SG rate is 12% — the final rate in the legislated schedule. Check your payslip to confirm your employer is paying the correct rate. If not, report it to the ATO.
Even A$50/week extra from age 35 adds approximately A$217,000 to your super by retirement (age 67) thanks to compound growth. Salary sacrifice is particularly tax-effective as contributions are taxed at 15% instead of your marginal rate.
If you have super spread across multiple funds from previous jobs, consolidating into one fund reduces fees and makes tracking easier. Use the ATO's myGov portal to find and merge lost super accounts.
Most super funds include default life and disability insurance. Review the coverage to ensure it's adequate for your needs — and that the premiums aren't eating into your balance unnecessarily.
If your total super balance is under A$500,000, you can carry forward unused concessional cap amounts from up to 5 previous years. This is useful for making large one-off contributions when you have a high-income year.
If you earn under A$58,445 and make after-tax super contributions, the government matches 50 cents per dollar up to A$500. It's essentially free money — check if you're eligible.