Canberrans are building the nation's largest superannuation nest eggs using their high incomes and generous employer schemes.
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ACT workers have the highest average super balance, at $199,000 for men and $174,000 for women, leaving other states and territories well behind. The amounts are far higher than second-ranked Victoria, where the figures were $160,000 and $124,000.
New Tax Office data, based on income-tax returns from 2016-17, show the gender gap was smaller in the ACT for super, and the average balance for a Canberran was almost double that for a Northern Territorian.
Dixon Advisory's head of advice, Nerida Cole, said the ACT's higher wages and generous super schemes had made Canberrans' average balances dramatically larger than those elsewhere.
The 2016 census showed Canberrans earned about $300 per week more than Australians nationally, with a nation-leading median weekly income of $998, or 50 per cent more than the national median of $662.
"A lot of things being equal, you would expect them to have a higher balance, based on that," Ms Cole said.
Generous super schemes were the other main contributor to the ACT's high average balances, she said.
Many federal government agencies – large employers in the national capital – pay salary packages with higher super contributions of a minimum 15.4 per cent compared to private sector employers paying 9.5 per cent. Another large Canberra employer, the Australian National University, offers continuing and fixed-term staff contributions of 14 per cent.
Canberra's lower housing prices compared to Sydney may also let workers pay their mortgages quicker and pour more income into superannuation, Ms Cole said. Canberrans' high education levels were also an advantage.
"They're able to personally build up their own knowledge, or bring in financial advice when they need help with their finances," she said.
The average super balance for Canberran men is $25,000 or 14 per cent larger compared to 2013-14, and $27,000 or 18 per cent higher for women.
ANU economist professor Robert Breunig said the higher average balances in the ACT were driven by larger incomes more than generous super schemes, and made Canberrans less reliant on the age pension.
"It's worth making the point that that's a good thing in terms of government budgets," he said.
Tax Office data, which don't account for people not lodging returns, show Canberra's inner-south suburbs Griffith, Manuka, Red Hill and Forrest had the largest median taxable income at $73,838. The data, listing income levels by postcode, showed the ACT's lowest median taxable income of $46,378 was in Acton and Canberra's city centre, home to many ANU students.
