Gen Z to Boomers: the super gaps putting retirement savings at risk
New findings from Super Consumers Australia’s Your Say on Super survey reveal a clear generational gap in how Australians engage with and feel confident making decisions about their superannuation.
The survey shows a 31 percentage point gap in engagement between Baby Boomers and Gen Z, and a 19 percentage point gap in confidence.
The findings also point to a consistent pattern across generations: people are missing different key steps at different life stages, from checking insurance and contributions early in working life through to planning retirement income and death benefit nominations later on.
Over time, missing these steps can significantly affect retirement outcomes, in some cases by tens or even hundreds of thousands of dollars.
“Each generation has unique challenges ahead for retirement, but no matter what generation you are, there are things you can do right now with your superannuation to set yourself up for the future,” said Xavier O’Halloran, CEO of Super Consumers Australia.
Super Consumers Australia has released simple steps each generation can take right now to make a difference for their retirement.
Super generation challenges and one step to get started
Gen Z:
| The challenge: | Getting the basics in place early. |
| The action: | Log in! Sign into your superannuation account and check you’re being paid. |
Your Say on Super found that 21% of Gen Zs did not know that employers are legally required to pay their employees superannuation.
“Our guidance for Gen Z is simply to log in to your superannuation and get to know your account. It’ll be with you for a while, so make sure the basics are right – that your employer is paying your superannuation properly and all of your details are accurate.”
Millennials:
| The challenge: | Prepare for the unexpected. |
| The action: | Check that the insurance in your super meets your family’s needs. |
Your Say on Super shows that 57% of Millennials did not know that super funds automatically enrol you into their default insurance if you’re over 25 years old.
“Millennials are often mid-career, some with young families and may not have thought about or checked their super for a while. Now is the time to make sure the insurance you’re paying for in your super reflects the needs of your family.”
Gen X:
| The challenge: | Planning for retirement. |
| The action: | Calculate your retirement target to know how much you’ll need. |
Your Say on Super found that 22 per cent of Gen Xers did not know that you can change how your super is invested after joining a fund.
“Many Gen Xers will be thinking about retirement but still have time to make a difference in their super balances. Figure out your retirement target – the amount you need for a comfortable lifestyle in retirement. Then check that this lines up with the income you are likely to receive from your super and the Age Pension.”
Boomers:
| The challenge: | Taking care of your loved ones. |
| The action: | Choose what happens to your super if something happens to you (your death benefit nomination) |
“One of the most heartbreaking things we see is the struggles families have dealing with a family member’s superannuation while grieving. You can make this much easier for your loved ones by making a binding death benefit nomination on your account now.”
For all generations, ASIC’s Moneysmart has further resources, calculators and information to help you engage with your superannuation.
Calls for better education and awareness campaigns
“The superannuation engagement gap between Boomers and Gen Z shows the Government and superannuation industry need to do a lot more to educate and empower people,” said Mr O’Halloran.
“Moneysmart does good work, but we think it should be even better, and we need the government to properly fund Moneysmart and run broad scale awareness campaigns so every generation can be in the best possible position for retirement.”
About Your Say on Super
Your Say on Super is a recurring consumer survey run by Super Consumers Australia. The aim is to understand how Australians experience, engage with, and make decisions about their super in real life. It is a nationally representative survey that provides insights into where people need better support, clearer information and stronger protections to navigate an increasingly complex super system. These insights are used to influence policymakers and hold super funds accountable in our fight for a fair super system.
Media contact:
Talisa Clavijo (02) 7908 6323
tclavijo@superconsumers.com.au
OR
enquiries@superconsumers.com.au
Xavier O’Halloran is available for interview.
Available graphics:
Percentage of people that are engaged with their super and are confident in making decisions about their super (Your Say on Super Survey published in June 2026)