SMSF member demographics
At 30 June 2019:
- There were 1.125 million SMSF members, of whom 53% were male and 47% female.7
- The median age for all SMSF members was 60 years.
Our most recent lodgment data for 2017–18 shows that:
- 39% of members were in retirement phase, compared to 40% in 2016–17
- 5% of SMSF members receiving retirement benefit payments reported they were also receiving the age pension
- 37% of SMSF members also had entitlements in non-SMSF super funds, compared with 39% in 2016–17 and 40% in 2013–14
- the average taxable income of all SMSF members was $117,000, while the median taxable income was $64,0008
- the median age of SMSF members of newly established funds was 46 years.
See table 19 and table 20 of the data tables.
SMSF member balances
At 30 June 2018:
- the average SMSF member balance was $679,000 and the median balance was $408,000, up 25% and 28% respectively from 2013–14
- the average member balance for female members was $624,000, up 7.2% from the previous year and 28% from 2013–14
- the average member balance for male members was $754,000, up 6.4% from the previous year and 21% from 2013–14
- 42% of SMSF members had balances of $200,001 to $1 million
- 1% of SMSF members had balances of over $5 million
- the average member balance for funds established in 2017–18 was $214,000, a drop of 19% from 2016–17 but an increase of 20% from funds established in 2013–14
- the median member balance for funds established in 2017–18 was $125,000, a drop of 12% from 2016–17 but an increase of 24% from 2013–14
- over the five years to 30 June 2018, the proportion of SMSF members with balances of $200,000 or less fell from 46% to 40%.
See table 5, table 6, table 21 and table 22 of the data tables.
Footnotes
7 Based on registrations and ABR data.
8 Average taxable income is determined by individual income tax returns received for the relevant year as at 30 June 2019.