Super in your 50s (and beyond): what matters now

For many people, their 50s are the first time that super starts to feel relevant. Retirement is starting to come into focus, not as a distant idea but as a new chapter worth planning for. 

The good news is your 50s are one of the most powerful decades to shape how that chapter looks, while you’re still earning and contributing. What you do with your super now can make a real difference later. 

So what’s actually worth paying attention to? 

Get clear on where you stand

Whether you plan to retire before 60, at 67 or not just yet, it helps to know where you’re starting from. 

Australians are living longer – around 81 years for men and 85 for women on average – meaning retirement can easily last 20 years or more.¹ Your super balance isn’t just a number on a statement, it’s what will help fund that time. 

As a guide, the Association of Superannuation Funds of Australia (ASFA) estimates a single person retiring at 67 needs $54,840 a year for a comfortable lifestyle.² You shouldn’t take that as gospel, but it’s a useful reference point. Tools like MoneySmart’s retirement planner can help you sense-check where you’re tracking. 

Use contributions more deliberately

Contributions are the one area where people in their 50s can still move the dial. 

Employer contributions are a good base, but on their own, may not be enough to support the kind of retirement many people want. Adding to your super  – particularly before tax – can improve outcomes without requiring dramatic changes to how you live. 

Concessional (before-tax) contributions 

You can contribute up to $30,000 a year in concessional contributions, generally taxed at 15% if your income is below $250,000.² 

They include: 

• employer contributions 

• salary sacrifice 

• personal deductible contributions 

 
For a lot of people in their 50s, this isn’t about finding spare cash. It’s about redirecting income you’re already earning, while you still can. 

Non-concessional (after-tax) contributions 

You can also contribute up to $120,000 a year from after-tax income.³ These contributions are made from after-tax income and generally aren’t taxed again when they enter your super account. 

Depending on your circumstances, you may also be eligible for: 

• government co-contributions; 

• Low income super tax offset; 

• spouse contributions, which can attract a tax offset 

If you’re 55 or older, and eligible, you may also be able to make a downsizer contribution of up to $300,000 from selling your home, outside the usual non-concessional cap. 

Take another look at how your super is invested

As retirement gets closer, it’s worth checking whether your investment settings still feel right. 

Many people become less comfortable with large ups and downs as they approach the point where they’ll start drawing on their super. If you expect to access your money in the next few years, the question often shifts from  growing your assets to making sure you have enough to live with. 

There’s no single right answer. What matters is not leaving things untouched simply because they’ve worked well in the past. 

If you’re unsure, this can be a good time to talk to your super fund or seek advice, even just to sense-check that your approach still fits your plans. 

It’s also an optimal time to see whether your super is spread across multiple accounts. Consolidating can help reduce duplicated fees or unwanted insurance that quietly eat into your balance. 

Keep some money outside super

As you move through your 50s, unexpected costs can still arise from job changes to health issues or caring responsibilities. 

Having savings outside super that you can access can help manage the impact of these . An emergency buffer won’t solve everything, but it can provide flexibility when you need it. MoneySmart suggests a good target is enough to cover three months’ worth of expenses. 

Think about how work might wind down

Retirement doesn’t have to be a single, fixed date. 

Your 50s are a good time to start thinking about what the transition might look like. Options may include but are not limited to: reducing hours, downsizing at the right time or using a Transition to Retirement (TTR) strategy once you reach preservation age. 

A TTR strategy allows you to access some of your super while continuing to work, helping smooth the shift into retirement. 

A deliberate decade 

Your 50’s aren’t about ‘catching up’. They’re about being deliberate. Getting clearer on where you stand, using contributions thoughtfully and consolidating your super while you still have time can make retirement feel truly yours. 

This information is current as at 1 April 2026 and may be subject to change. You should not rely on this article to determine your personal tax obligations or other entitlements. 

Bendigo Superannuation Pty Ltd (ABN 23 644 620 128 AFSL 534006) (Bendigo Super) is the trustee and issuer of Bendigo SmartStart Super and Bendigo SmartStart Pension (Products).
Before making an investment decision in relation to the Super Products, read the relevant Product Disclosure Statement, available from this website (www.betashares.com.au/super/documents) or by calling 1800 033 426, and consider whether the product is right for you. You can find the Bendigo SmartStart Super Target Market Determination here and the Bendigo SmartStart Pension Target Market Determination here. This information is general in nature and doesn’t take into account any person’s financial objectives, situation or needs. You should consider its appropriateness taking into account such factors and seek professional financial advice. Past performance is not indicative of future performance.

1. Source: Australian Bureau of Statistics (Life Tables, 2021-2023- external site)

2. Source: ASFA Retirement Standard December Quarter 2025, assuming retiree owns their own home

3. The income year 2025/26