Felix · Richify's AI CFO
Balance, contributions and the ASFA benchmark in one place — with AI answers to your super questions.
Track my super — Free
Your personal AI for understanding and tracking your personal finance.
Superannuation is Australia's compulsory retirement savings system. Your employer contributes 12% of your salary directly into a super fund. By retirement at 67, this should give most Australians between $300,000 and $700,000 — but whether it's enough depends on how you manage it.
Superannuation ("super") is a long-term savings arrangement designed to provide income in retirement. Unlike a voluntary savings account, super is mandatory — your employer must contribute on your behalf under the Superannuation Guarantee (SG).
The basic flow is: Employer pays SG (12% of your salary) → Super fund invests it → You access it at retirement (from age 60). You can also make voluntary contributions (salary sacrifice or personal after-tax) to boost your balance.
Super funds invest your money across asset classes: Australian shares, international shares, bonds, property, and cash. Most funds offer pre-mixed options like "Growth" (70-90% shares), "Balanced" (50-70% shares), or "Conservative" (20-40% shares). Younger members typically benefit from a Growth option due to the longer time horizon.
The SG rate has progressively increased from 9.5% (pre-2021) to 12% as of 1 July 2025. For paydays from 1 July 2026, your employer must pay SG on your qualifying earnings (QE) — your pay for ordinary hours plus commissions, most bonuses and salary-sacrificed amounts, but not overtime. QE replaced ordinary time earnings (OTE) as the SG base under payday super; it is broader, so employees paid partly on commission or bonus are entitled to more super than the old OTE basis produced.
| Year | SG Rate |
|---|---|
| 2021-22 | 10% |
| 2022-23 | 10.5% |
| 2023-24 | 11% |
| 2024-25 | 11.5% |
| 2025-26 | 12% |
| 2026-27 | 12% |
The $450/month minimum earnings threshold was removed from 1 July 2022, meaning all employees receive SG regardless of how little they earn.
Concessional contributions (pre-tax) are capped at $32,500/year (2026-27, up from $30,000 after indexation). This includes:
Concessional contributions are taxed at 15% inside super — significantly less than most marginal tax rates. For someone on $100,000/year (37% marginal rate), every $1 salary sacrificed saves 22 cents in tax.
Non-concessional contributions (after-tax) are capped at $130,000/year (2026-27), or $390,000 over 3 years using the bring-forward rule. These aren't taxed again inside super because you've already paid tax on them.
💡 Carry-forward rule: If your total super balance is under $500,000, you can carry forward unused concessional cap amounts from the previous 5 financial years. This enables a one-off tax-effective boost by contributing more than $32,500 in a single year.
There are four main types of super fund in Australia:
Most funds offer several pre-mixed investment options. The right choice depends primarily on your age and how many years until you need the money.
| Option | Growth Assets | Typical For |
|---|---|---|
| High Growth | 85-100% | Under 40, 20+ yrs to retire |
| Growth | 70-85% | 30-50, 15+ yrs |
| Balanced | 50-70% | 40-55, 10-15 yrs |
| Conservative | 20-40% | 55+, approaching retirement |
| Cash | 0% | Capital preservation, short term |
The ATO holds over $16 billion in lost and unclaimed super. You might have lost super if you've changed jobs, moved address, or had multiple funds. Here's how to find it:
Consolidating saves you from paying multiple sets of admin fees and insurance premiums. The average Australian with lost super is missing $13,800.
Salary sacrifice means redirecting part of your pre-tax salary into super. Instead of receiving the money as take-home pay (taxed at your marginal rate), it goes into super (taxed at just 15%).
Example: $10,000 Salary Sacrifice vs Take-Home
Salary: $100,000 (37% marginal rate)
As take-home: $10,000 → pay $3,700 tax → $6,300 in your pocket
As salary sacrifice: $10,000 → pay $1,500 super tax → $8,500 in your super
Tax saving: $2,200 — plus compound growth on the extra $2,200 over decades
If you earn less than $64,293/year (2026-27) and make a personal after-tax super contribution, the government matches 50 cents per dollar, up to $500/year. To receive the full $500, you need to:
The co-contribution phases out between $49,293 and $64,293 (2026-27). Even a partial co-contribution is free money with guaranteed 50% returns on your contribution.
| Stage | Tax Rate |
|---|---|
| Concessional contributions | 15% (or 30% if income > $250K — Division 293) |
| Investment earnings (accumulation) | 15% |
| Capital gains (assets held 12+ months) | 10% (1/3 CGT discount) |
| Investment earnings (pension phase) | 0% |
| Withdrawals (age 60+) | 0% |
| Withdrawals (preservation age to 59) | 0% up to low-rate cap ($235K), 15% above |
Four confirmed changes are reshaping super right now — worth checking against your own setup:
General information only, current as of FY 2026-27 — super rules change frequently. Confirm the latest position on ato.gov.au and consider licensed advice for your own situation.
Benchmarking your balance against your age group is the fastest way to know if you're on track. On ATO Taxation Statistics 2023-24 the average super balance climbs from $27,822 at 25–29 to $238,616 at 50–54 — but averages hide a wide spread, and the median for those bands is only $21,395 and $161,375, so the median and top-10% figures matter more than the average when you are judging your own balance.
| Item | 2026-27 |
|---|---|
| SG Rate | 12% |
| Concessional cap | $32,500/year (FY2026-27) |
| Non-concessional cap | $130,000/year (FY2026-27) |
| Bring-forward cap | $390,000 / 3 years |
| Carry-forward threshold | Balance < $500,000 |
| Division 293 threshold | $250,000 income |
| Transfer balance cap | $2.1M (FY2026-27) |
| Preservation age | 60 |
| Age Pension age | 67 |
| ASFA Comfortable (single) | $630,000 |
| ASFA Comfortable (couple) | $730,000 |
| ASFA Modest (single) | $110,000 |
| Low-rate cap amount | $235,000 |
| Tax on contributions | 15% |
| Tax in pension phase | 0% |
Sources: ATO, APRA, ASFA. Current as of FY 2026-27.
Richify AI connects your super alongside investments, property, and savings — giving you a complete retirement picture and a personalised plan.
Super calculator
Project your super balance at retirement at SG 12%.
Salary sacrifice calculator
Tax saving from redirecting pre-tax salary into super.
Carry-forward super calculator
Unused concessional cap from the last 5 years — and what expires 30 June 2027.
Super co-contribution calculator
The government matches after-tax contributions 50c in the dollar, up to $500.
Parental leave super calculator
The ATO now pays 12% super on Parental Leave Pay — children born from 1 July 2025.
Division 293 calculator
Check if the 30% Div 293 surcharge applies to high earners.
FHSS calculator
First Home Super Saver — up to $50K released for a deposit.
Drawdown calculator
Project how long your super lasts in retirement.
Age Pension calculator
Income test + assets test + deeming — see which one binds.
SMSF setup cost calculator
Fixed SMSF costs vs percentage fund fees — find the break-even balance.
SMSF pension phase calculator
Minimum drawdown + tax-free earnings for SMSF retirees.
Payday Super calculator
The 7-business-day deadline from 1 July 2026, plus the SGC if it's late.
SMSF property borrowing checker
The LRBA ban is in force — are you grandfathered, and what can the fund still borrow for?
Average super by age
Compare your balance to Australians your age (ATO data).
Super Snapshot
Get your Super Score and a retirement projection.
How much super should I have?
ATO median vs ASFA Comfortable on-track target by age.
9 common super mistakes
Default option, lost super, beneficiary nominations — fixes for each.
Super depletion factors
APRA minimum drawdown, actuarial multipliers, and Safe Withdrawal Rate — three frameworks explained.
Payday Super 2026
ATO super payment changes effective 1 July 2026 — paid with each wage cycle, not quarterly.
Superannuation (super) is Australia's compulsory retirement savings system. Your employer contributes a percentage of your salary (12% in 2026-27, called the Superannuation Guarantee) into a super fund that invests the money on your behalf.
You generally can't access it until you reach preservation age (60 for most Australians).
On ATO Taxation Statistics 2023-24, the average (mean) super balance is $54,009 at 30–34, $134,054 at 40–44 and $238,616 at 50–54. The median — the middle person, and the better personal benchmark — is lower: $40,426, $100,330 and $161,375 on the same bands, because a small number of very large accounts pull the average upward.
To be on track for ASFA's comfortable retirement ($630,000 at 67 for a single homeowner, revised February 2026), ASFA's own Super Balance Detective targets are $70,500 at 30, $178,000 at 40 and $313,500 at 50 — so the typical Australian is running behind the comfortable standard at every one of those ages. Use our Super Calculator to see where you stand.
Concessional (pre-tax) contributions: $32,500/year from 1 July 2026, up from $30,000 after indexation to average weekly ordinary time earnings — this includes employer SG, salary sacrifice, and personal deductible contributions, and is taxed at 15% inside super. Non-concessional (after-tax): $130,000/year, up from $120,000, or $390,000 over 3 years using the bring-forward rule.
Non-concessional contributions are not taxed again inside super.
No. Richify is an AI-powered personal finance education tool. It does not hold an Australian Financial Services Licence (AFSL) and does not provide personal financial advice.
All content is educational and general in nature. For personal advice, consult a licensed financial planner.
Super contributions are taxed at a flat 15% (concessional contributions). Investment earnings inside super are taxed at 15%.
In pension phase (after retirement, typically from age 60), both investment earnings and withdrawals are tax-free. This makes super one of the most tax-efficient structures available to Australians.
Salary sacrifice means directing part of your pre-tax salary into super instead of receiving it as take-home pay. The amount is taxed at 15% inside super rather than your marginal tax rate (which could be 32.5%, 37%, or 45%).
This reduces your tax bill and boosts your retirement savings. The concessional contribution cap of $32,500/year (2026-27) includes salary sacrifice plus employer SG.
The ATO holds over $16 billion in lost and unclaimed super. Search via myGov (link your ATO account), contact your previous employers, or use the ATO's SuperSeeker tool.
Once found, consolidate into one fund to save on multiple sets of fees and insurance premiums.
If you earn less than $64,293/year (2026-27) and make a personal after-tax super contribution, the government will match 50 cents per dollar, up to a maximum of $500/year. To get the full $500, you need to contribute $1,000 and earn $49,293 or less.
The co-contribution phases out between $49,293 and $64,293.
