Association of Superannuation Funds of Australia warns on Margaret River’s low super balances

Hotspots in the Margaret River region have been identified as areas with some of the lowest superannuation back-up in the country.

The Association of Superannuation Funds of Australia released figures for the Forrest electorate last week showing residents possessed an average superannuation balance of $137,456.

While the Forrest average accorded with the WA average, it was $10,000 below the national average.

Margaret River was the lowest-recorded locality in the South West with an average super balance of $107,019.

That average was well below Bunbury at $133,793, and far outstripped by other localities.

The wealthy enclaves of Yallingup ($264,753) and Dunsborough ($182,020), were closely followed by Augusta with $169,393 and Busselton, also below the national average at $140,218.

ASFA deputy chief executive Glen McCrea urged residents to check their super before the end of the financial year.

“Superannuation is a great long-term financial instrument to help Australians enjoy a comfortable and dignified retirement,” he said.

“To get a sense of how they are individually tracking towards their goals, we encourage people in the South West of WA to check their super using a retirement tool such as our SuperGuru Retirement Tracker.”