Multiple super accounts data

Trend towards single accounts

On 30 June 2022, over 12.6 million people had only one super account. This is around 76% of the super population.

Super is your savings for retirement. It is important to know:

how much super you are getting
what accounts you have
insurance attached to each account.

Having multiple super accounts could mean you are paying unnecessary fees and charges. This can reduce your overall retirement income.

You can manage your super using ATO online services through myGovExternal Link. Here you can:

see your fund details and any accounts you may have forgotten about
transfer super from accounts you no longer use into your main account.

If you don't have a myGov account, you can create one and link it to the ATO.

Before transferring your super, check with your fund to see if you will lose any valuable insurance. For more information, visit ASIC's MoneySmartExternal Link.

Multiple super accounts held

On 30 June 2022, over 12.6 million Australians had one super account, with around 3 million people holding 2 or more accounts. The following 6 tables provide demographic information on these individuals.

Figures are based on member data reported by funds to us for the year ending 30 June 2022. Percentages have been rounded to the nearest whole number. As a result, totals may not add up to 100%.

Number of super accounts

Percentage of accounts held by an individual
Number of accounts	Total individuals
1 account	76%
2 accounts	18%
3 accounts	4%
4 or more accounts	1%

Individual account holders by gender
Number of accounts	Male	Female	Unknown
1 account	77%	76%	79%
2 accounts	18%	18%	17%
3 accounts	4%	4%	3%
4 or more accounts	1%	1%	1%

Number of super accounts by age and gender

Percentage of accounts held by age group (male)
Age	1 account	2 accounts	3 or more accounts
18 and under	83%	15%	3%
19 to 25	76%	19%	5%
26 to 30	78%	17%	5%
31 to 35	79%	16%	5%
36 to 40	78%	17%	5%
41 to 45	75%	19%	6%
46 to 50	75%	19%	7%
51 to 55	71%	21%	7%
56 to 60	72%	21%	7%
61 to 65	76%	19%	5%
66 or over	86%	12%	2%

Percentage of accounts held by age group (female)
Age	1 account	2 accounts	3 or more accounts
18 and under	82%	15%	3%
19 to 25	75%	20%	5%
26 to 30	79%	16%	4%
31 to 35	80%	16%	4%
36 to 40	76%	18%	5%
41 to 45	73%	20%	7%
46 to 50	71%	21%	8%
51 to 55	71%	22%	8%
56 to 60	74%	20%	6%
61 to 65	78%	18%	4%
66 or over	87%	11%	2%

Number of super accounts by region

Percentage of accounts held by state or territory
State/territory	1 account	2 accounts	3 or more accounts
ACT	73%	21%	6%
NSW	78%	18%	4%
NT	72%	20%	8%
QLD	72%	20%	8%
SA	75%	20%	5%
TAS	78%	17%	4%
VIC	79%	17%	4%
WA	75%	19%	6%
Unknown	86%	11%	3%

Unknown refers to invalid and overseas addresses.

Number of super accounts held by individuals, 2019 to 2022
Number of super accounts	2019	2020	2021	2022
1	65%	74%	75%	76%
2	23%	20%	19%	18%
3	7%	5%	4%	4%
4 or more accounts	4%	2%	2%	1%
Individuals with 1 or 2 super accounts	88%	94%	94%	95%
Individuals with 3 or more super accounts	11%	7%	6%	5%

Last modified: 27 Feb 2023QC 37783