Revealed: The Cairns suburbs with biggest super savings

The Cairns postcodes where residents are sitting on the biggest nest eggs have been revealed – and it’s not necessarily where you would expect. See where your suburb falls.

The postcodes where residents are sitting on the biggest nest eggs have been revealed, while Cairns locals are urged to check they have not lost track of thousands in superannuation savings.

Coming out on top was the Babinda and Bartle Frere region, postcode 4861, with an average super balance of $216,000 according to new data from Brighter Super.

The data, taken from the fund’s 3296 account holders in Cairns, shows the 4861 postcode sits well above the average Australian’s $143,979 superannuation balance.

Average savings across Cairns were $188,000, also outperforming the national mean.

Bright Super CEO Kate Farrer said it was clear many Cairns residents had set themselves up for a comfortable retirement.

“Through consistent contributions, we have seen many of our Cairns members grow a comfortable nest egg,” Ms Farrar said.

“Many Australians underestimate how much money they will need for retirement. Once you have retired – or semi-retired – your main income will diminish.

“It’s important you have enough funds to cover you for the rest of your life.”

Ms Farrar said one of the easiest ways for Cairns residents to boost their balance was by taking stock of their super, with a particularly large number of lost and unclaimed accounts in the region.

Australian Taxation Office data from 2020 revealed Cairns postcode 4870, which covers areas including Cairns City, Edge Hill and Redlynch, was the second worst in the country for missing super with a whopping $40.3 million sitting unclaimed.

“Lost and unclaimed super means your hard-earned money is not in your account, and you may be paying multiple sets of administration fees and premiums, eroding your balance,” Ms Farrar said.

“With many Australians changing careers as part of the Great Resignation, now is the time to check in and make sure your savings are consolidated, and your superannuation fund is helping build you a brighter future.”

TOP SIX POSTCODES FOR CAIRNS SUPER BALANCES

1. 4861 postcode’s average super balance: $216,000

Babinda, Bartle Frere, East Russell

2. 4870 postcode’s average super balance: $195,000

Aeroglen, Barron Gorge, Brinsmead, Bungalow, Cairns, Cairns City, Cairns North, Earlville, Edge Hill, Freshwater, Kamerunga, Kanimbla, Lamb Range, Manoora, Manunda, Martynvale, Mooroobool, Parramatta Park, Portsmith, Redlynch, Stratford, Westcourt, Whitfield

3. 4865 postcode’s average super balance: $193,000

Goldsborough, Gordonvale, Green Hill, Kamma, Little Mulgrave, Packers Camp

4. 4868 postcode’s average super balance: $193,000

Bayview Heights, Mount Sheridan, White Rock, Woree

5. 4878 postcode’s average super balance: $167,000

Barron, Caravonica, Holloways Beach, Machans Beach, Smithfield, Yorkeys Knob

6. 4869 postcode’s average super balance: $166,000

Bentley Park, Edmonton, Mount Peter, Wrights Creek

Originally published as Revealed: The Cairns suburbs with biggest super savings