SMSF members by age
At 30 June 2013, 82% of SMSF members were aged 45 years or older (see appendix 1, table 10).23 The average and median member age was around 57 years and 58 years respectively.
There are generally younger members in more recently established funds. Of SMSFs established in 2008, 48% of members were under 55 years old. This compares to 63% of members of SMSFs established in 2012. The average and median age of members of newly established funds over the five years has also declined from approximately 55 years to 52 years.
Graph 5 shows the proportion of SMSF members by age in the fund’s year of establishment over the five years to 2012, compared to the whole SMSF population at 30 June 2013. The proportion of members between the ages of 25 years and 54 years in more recently established funds exceed that of the whole SMSF member population. This is particularly evident in the 35–44 year age range.
Graph 5: Proportion of SMSF members by age range
Graph 6 shows that at 30 June 2012, 4% of non-SMSF sector account holders were over 65 years old, while in the SMSF sector 6% of members were under 35 years old (see appendix 1, table 11).24
In the SMSF sector, 69% of members were over 50 years old compared to 26% of members in the non-SMSF sector.25
Graph 6: Age distribution of SMSF members and non-SMSF members as at June 2012