At 30 June 2011 81% of SMSF members were older than 45 years of age (see appendix 1, table 8).14 Although generally SMSF members are ageing, recently established SMSFs tend to have younger members than the total SMSF member population.
Graph 7 shows that of the almost 7,500 SMSFs established in the June 2011 quarter, 7.4% of members were aged 65 and over.15 In comparison, over 22% of the total SMSF member population were aged 65 and over at June 2011. Members below 35 years of age represented over 11% of these newly established funds, compared to just over 5% for the whole SMSF member population. Also, 64% of new members were less than 55 years of age compared to just over 44% of members of all SMSFs.
Graph 7: Proportion of SMSF members by age range
In the non-SMSF sector only 4% of account holders were over 65, while in the SMSF sector only 6.3% of members were under 35 years of age (see appendix 1, table 9).16
Graph 8 provides a comparison of SMSF and non-SMSF member ages at June 2010. In the SMSF sector, almost 68% of members were over 50 years of age compared to 25% of members in the non-SMSF sector.17 In turn, there were a higher proportion of members below 50 years of age who held accounts in the non-SMSF sector (75%), with just over 32% of SMSF members in this age range.
Graph 8: Age distribution of SMSF members and non-SMSF members as at June 2010
Sections within Member demographics
Last Modified: Thursday, 7 March 2013