How to grow your super

While you’re working, your employer contributes a minimum of 11% of your salary into your super account. This is known as the Superannuation Guarantee (SG).

While these SG contributions help your super to grow, they may not be enough for you to afford a comfortable retirement.

How much super will you need?

A recent study by ASFA^1,2 shows that Australians could face a major shortfall in retirement if they only rely on their employer's super contributions.

• For retirees aged 65 to 85¹, a single person needs around $982.34 and a couple $1,382.15 a week for a comfortable retirement
• For retirees aged over 85², a single person needs around $920.97 and a couple $1,273.09 a week for a comfortable retirement

If you want to have enough money to pay for things like private health insurance, internet at home, going out for dinner and taking holidays, you probably need to take steps towards growing your super.

Find out how you could help to close the gap in your retirement savings and enjoy a more comfortable lifestyle below.

Take action to grow your super

Here are some of the ways you might be able to grow your super. The earlier you start, the more chance you’ll have to make an impact on your retirement savings.

If you’d like to find out more about what kind of retirement you might be able to afford, and how much extra you could save each week to grow your super, take a look at our range of online tools and calculators.

Try our calculators

1 The Association of Superannuation Funds of Australia (ASFA), Retirement Standard, aged around 67, September quarter 2023.
2 The Association of Superannuation Funds of Australia (ASFA), Retirement Standard, aged over 85, September quarter 2023.