Member profile

SMSF member demographics

At 30 June 2020:

• there were 1.107 million SMSF members, of whom 53% were male and 47% were female^Footnote7
• the average age for all SMSF members was 60 years and the median age was 61 years.

Our most recent lodgment data for 2018–19 shows that:

• 40% of members were in retirement phase, compared to 38% in 2017–18 and 39% in 2014–15
• 5% of SMSF members receiving retirement benefit payments reported they were also receiving the age pension
• 36% of SMSF members also had entitlements in non-SMSF super funds, compared with 38% in 2017–18 and 40% in 2014–15
• the average taxable income of all SMSF members was $115,000, while the median taxable income was $63,000^Footnote8
• 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 2019:

• the average SMSF member balance was $701,000, up 6% from 2017–18, and 23% from 2014–15
• The median SMSF balance was $424,000, up 9% from 2017–18 and 27% from 2014–15
• the average member balance for female members was $654,000, up 7% from 2017–18 and 28% from 2014–15
• the average member balance for male members was $784,000, up 6% from 2017–18 and 22% from 2014–15
• 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 2018–19 was $219,000, an increase of 4% from 2017–18 and 15% from funds established in 2014–15
• the median member balance for funds established in 2018–19 was $131,000, an increase of 7% from 2017–18 and 28% from 2014–15
• over the five years to 30 June 2019, the proportion of SMSF members with balances of $1 to $200,000 fell from 40% to 33%.

See table 5, table 6, table 21 and table 22 of the data tables.

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Footnote 7

 

 

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Footnote 8

 

 

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