To proceed, you must accept the assumptions and disclaimer.Continue
INVEST IN YOU
Working out how much super you’ll need for a comfortable lifestyle in retirement can be overwhelming.
This interactive calculator is designed to give you an idea of how much retirement income you could expect based on your current situation, and how long your super balance might last you.
You’ll also be able to see how small changes like making extra contributions, changing your investment mix, or reducing your working hours could affect your super balance at retirement.
Summary
Edit assumptions Print
$000,000
Income at retirement
$000,000
Projected balance at retirement
00
Run out age
Rotate your device to see the graphs
$000,000
Income at retirement
$000,000
Projected balance at retirement
00
Run out age
Contributions
Please tell us about any additional contributions you make. The sliders are limited by your maximum available contribution.
Investment mix
See how your investment choice can affect your retirement income. The Low, Medium and High options represent investment strategies with differing risk return profiles. For example, the investment strategy for the Low option is assumed to be more conservative than the Medium or High options, which is reflected in a lower assumed return.
Part time work
Are you planning to work part time
Transition to retirement
A transition to retirement strategy allows you to draw money from your super while you continue to work. You can top up your super by contributing some or all of your salary providing a tax-effective way of saving for retirement. We'll do these calculations for you to give you an idea of how much you could save.
Age pension
Help us calculate your age pension eligibility. Your age pension payments are automatically included in your retirement income
Partner
Would you like to include or exclude your partner?
Your partner contributes
Disclaimer and assumptions
What can I do now?
Do something today that your future self will thank you for. Even the smallest change can improve your outlook. Start investing in you by acting now.
Superannuation calculator disclaimer and assumptions
Disclaimer
This Calculator provides an illustration of how much superannuation you could accumulate at your chosen retirement age and long it may last for in retirement.
The Calculator relies on assumptions and if these assumptions are varied the results change. The Calculator does not take into account changes in your personal circumstances, actual future investment returns, inflation or future changes to the Age Pension and tax regulations.
The projections shown in this Calculator are intended as a guide only, based on the information you input, and should not be used in isolation to make financial decisions. The calculator is not intended to provide a recommendation in relation to a financial product or interest in a financial product. The calculator is not intended to be relied upon as a substitute for professional financial advice. You should consider the relevant product disclosure statement for the relevant financial product to determine if the product is suitable for you.
This Calculator has been prepared Gallagher. To the extent of law, neither the provider of the calculator, Vision Super Ltd, its service providers or any related bodies accept any liability for any omissions, errors or inaccuracies in the results generated by the calculator or the use of these results.
Inflation
The projection assumes a future wage inflation of 3.7% p.a and future price inflation of 2.5% p.a.
Results are expressed in today's dollars by discounting future amounts using the wage inflation rate in the accumulation phase and price inflation rate in the retirement phase.
Target income is also assumed to increase at the wage inflation rate.
These assumed inflation rates and the approach to discounting are consistent with ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.
Retirement Age
If you enter a current age less than 67, the calculator will assume a default retirement age is 67. If you enter a current age of 67 or older, the calculator will assume a default retirement age of your age at your next birthday. This approach is consistent with ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.
Personal income
The user's salary is assumed to increase in line with wage inflation. In any future periods where the user has a period of part-time employment, their salary is reduced pro-rata.
Tax calculations allow for Personal Income Tax rates, the Medicare Levy, the Low Income Tax Offset and the Senior Australian Tax Offset. Threshold and Offset amounts in the first year are based on current rates. Thereafter they are indexed in line with wage inflation.
Employer contributions
The user is assumed to receive superannuation guarantee contributions. The assumed rates of contribution are:
| Financial year | Rate |
|---|---|
| 01/07/2024 | 11.50% |
| 01/07/2025 | 12.00% |
Superannuation guarantee contributions are subject to the maximum contribution base, which is currently $65,070 per quarter. This threshold is indexed annually in line with wage inflation.
Member contributions
Regular concessional or non-concessional contributions entered by the user are assumed to increase in each year in line with the user's salary. In any periods of part-time work, the user's contributions are assumed to decrease pro-rata.
The amount of a one-off non-concessional contribution entered by the user is assumed to be fixed, and is not indexed.
Where a Concessional or Non-concessional contribution exceeds the corresponding legislated contribution thresholds, the contributions are taxed accordingly. Concessional contributions up to $30,000 pa are taxed at 15% in the superannuation environment. Concessional contributions in excess of the contribution threshold are subject to additional tax; however this is levied in the income tax environment.
Non-concessional contributions up to $120,000 pa or $360,000 over 3 years (by taking advantage of the 'bring-forward rule') are not taxed. Non-concessional contributions in excess of these thresholds stipulated are taxed at the highest marginal income tax rate. Please note there is an option to withdraw the excess contributions, though this option is not considered for the purpose of this calculator. From 1 July 2024, non-concessional contributions are only permitted if the balance of an individual's superannuation is below $1.9m. Where the projected balance exceeds the indexed cap in the future, the calculator will not allow for subsequent non-concessional contributions.
The Concessional and Non-Concessional contribution thresholds are indexed in line with the assumed rate of wage inflation.
Contributions are assumed to be spread evenly across the year.
Co-contribution
In each projection year, the user's eligibility for a Government co-contribution is assessed based on their salary and non-concessional contributions. A co-contribution is made to the superannuation account if applicable.
The co-contribution thresholds and maximum amount are indexed in line with wage inflation.
Investment earnings
This calculator estimates earnings on your account based on assumed rates of investment return.
The assumed rate of investment return depends on the investment option you have selected. The Low, Medium and High options represent investment strategies with differing risk return profiles. For example, the investment strategy for the Low option is assumed to be more conservative than the Medium or High options, which is reflected in a lower assumed return.
The investment return assumptions for the Low, Medium and High options reflect the investment strategies underlying Vision Super’s Conservative, Balanced Growth and Growth investment options. The assumed rates of investment return are calculated based on the strategic asset allocation for these options and return assumptions for each asset class.
The assumed rates of investment return are net of investment costs and taxes. For the period after Retirement age you have selected, your balance is assumed to be invested in a pension account, where earnings are tax free.
| Investment option | Accumulation phase | Pension phase |
|---|---|---|
| Low | 4.4% | 5.2% |
| Medium | 5.6% | 6.4% |
| High | 6.0% | 6.8% |
Fees and insurance premiums
Fees and insurance premiums are assumed to be as follows:
| Administration fee | Accumulation phase | $78 pa Plus 0.14% pa of your account balance (capped at $540) |
| Pension phase | 0.35% pa of your account balance (capped at $1,050) | |
| Contribution fee | Nil | |
Fees are assumed to be tax-deductible in the fund. Other fees and insurance premiums are deducted continuously.
The calculator assumes that default death, total and permanent disability (TPD) and income protection insurance cover is held and the premiums are in accordance with our insurance premium tables, effective from 1 July 2024. Refer to the Insurance Guide for details of the premiums.
Dollar fees and insurance premiums are assumed to increase in line with the assumed level of general wage inflation. Other fees are assumed to remain constant in percentage terms over the projection period.
Life expectancy
Life expectancies allow for future mortality improvements. They were derived based on the medium mortality rate assumptions in the Australian Bureau of Statistics in 'Population Projections 2006-2101'.
Age pension
Current Age pension thresholds and rates of payment are allowed for, based on the Single/Couple and Homeowner status of the user. Thresholds and rates of payment are indexed in line with CPI.
The age pension is subject to an asset test and an income test.
The asset test is based on the accrued balance of superannuation assets and other assets.
The age pension income test is based on deemed, rather than actual, income on superannuation and other assets.
Transition to retirement
The transition to retirement optimisation: assumes that the user continues working at the same rate; makes additional salary sacrifice contributions and draws a pension such that their net income remains constant; calculates the contribution and drawing level which maximises the benefit within the superannuation environment.
Drawings
The drawings from superannuation in retirement are calculated as: Required income less other income (as entered by the user) less any age pension amounts (as calculated by the program).
Minimum drawings
There are statutory minimum superannuation drawings in both the TTR phase and in retirement (once funds have been converted to the pension phase). These statutory requirements require you to withdraw a minimum amount of superannuation each year. This minimum amount is calculated based on your account balance and a percentage factor, which varies by age. The calculator allows for these minimum withdrawal requirements.
Last updated: September 2024
vision-super/5.3.7r26
Your supermodeller results
Is your super ready for retirement?
The key figures
| The projected balance of your fund at retirement is: | |
|---|---|
| Therefore your income at retirement would be: | |
| You are assumed to live until the age of: | |
| Your fund is projected to run out at age: |
| Before tax contributions | ||
|---|---|---|
| After tax contributions |
| Target income | |
|---|---|
| Retirement age |
Any one-off contributions
| One off contribution | |
|---|---|
| Age to make one off contribution |
Going part time
| Age to start part time work | |
|---|---|
| Number of days per week | days |
| For how long | years |
| Transition to retirement strategy | |
|---|---|
| Assets outside super | |
| Marital Status | |
| Additional income | |
| Home owner | |
| Investment mix | |
| Wage inflation |
| What you told us about you: | You | Partner |
|---|---|---|
| Age | ||
| Gender | ||
| Salary | ||
| Current balance | ||
| Before-tax contributions | ||
| After-tax contributions |
vision-super/5.3.7r26
Superannuation calculator disclaimer and assumptions
Disclaimer
This Calculator provides an illustration of how much superannuation you could accumulate at your chosen retirement age and long it may last for in retirement.
The Calculator relies on assumptions and if these assumptions are varied the results change. The Calculator does not take into account changes in your personal circumstances, actual future investment returns, inflation or future changes to the Age Pension and tax regulations.
The projections shown in this Calculator are intended as a guide only, based on the information you input, and should not be used in isolation to make financial decisions. The calculator is not intended to provide a recommendation in relation to a financial product or interest in a financial product. The calculator is not intended to be relied upon as a substitute for professional financial advice. You should consider the relevant product disclosure statement for the relevant financial product to determine if the product is suitable for you.
This Calculator has been prepared Gallagher. To the extent of law, neither the provider of the calculator, Vision Super Ltd, its service providers or any related bodies accept any liability for any omissions, errors or inaccuracies in the results generated by the calculator or the use of these results.
Inflation
The projection assumes a future wage inflation of 3.7% p.a and future price inflation of 2.5% p.a.
Results are expressed in today's dollars by discounting future amounts using the wage inflation rate in the accumulation phase and price inflation rate in the retirement phase.
Target income is also assumed to increase at the wage inflation rate.
These assumed inflation rates and the approach to discounting are consistent with ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.
Retirement Age
If you enter a current age less than 67, the calculator will assume a default retirement age is 67. If you enter a current age of 67 or older, the calculator will assume a default retirement age of your age at your next birthday. This approach is consistent with ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.
Personal income
The user's salary is assumed to increase in line with wage inflation. In any future periods where the user has a period of part-time employment, their salary is reduced pro-rata.
Tax calculations allow for Personal Income Tax rates, the Medicare Levy, the Low Income Tax Offset and the Senior Australian Tax Offset. Threshold and Offset amounts in the first year are based on current rates. Thereafter they are indexed in line with wage inflation.
Employer contributions
The user is assumed to receive superannuation guarantee contributions. The assumed rates of contribution are:
| Financial year | Rate |
|---|---|
| 01/07/2024 | 11.50% |
| 01/07/2025 | 12.00% |
Superannuation guarantee contributions are subject to the maximum contribution base, which is currently $65,070 per quarter. This threshold is indexed annually in line with wage inflation.
Member contributions
Regular concessional or non-concessional contributions entered by the user are assumed to increase in each year in line with the user's salary. In any periods of part-time work, the user's contributions are assumed to decrease pro-rata.
The amount of a one-off non-concessional contribution entered by the user is assumed to be fixed, and is not indexed.
Where a Concessional or Non-concessional contribution exceeds the corresponding legislated contribution thresholds, the contributions are taxed accordingly. Concessional contributions up to $30,000 pa are taxed at 15% in the superannuation environment. Concessional contributions in excess of the contribution threshold are subject to additional tax; however this is levied in the income tax environment.
Non-concessional contributions up to $120,000 pa or $360,000 over 3 years (by taking advantage of the 'bring-forward rule') are not taxed. Non-concessional contributions in excess of these thresholds stipulated are taxed at the highest marginal income tax rate. Please note there is an option to withdraw the excess contributions, though this option is not considered for the purpose of this calculator. From 1 July 2024, non-concessional contributions are only permitted if the balance of an individual's superannuation is below $1.9m. Where the projected balance exceeds the indexed cap in the future, the calculator will not allow for subsequent non-concessional contributions.
The Concessional and Non-Concessional contribution thresholds are indexed in line with the assumed rate of wage inflation.
Contributions are assumed to be spread evenly across the year.
Co-contribution
In each projection year, the user's eligibility for a Government co-contribution is assessed based on their salary and non-concessional contributions. A co-contribution is made to the superannuation account if applicable.
The co-contribution thresholds and maximum amount are indexed in line with wage inflation.
Investment earnings
This calculator estimates earnings on your account based on assumed rates of investment return.
The assumed rate of investment return depends on the investment option you have selected. The Low, Medium and High options represent investment strategies with differing risk return profiles. For example, the investment strategy for the Low option is assumed to be more conservative than the Medium or High options, which is reflected in a lower assumed return.
The investment return assumptions for the Low, Medium and High options reflect the investment strategies underlying Vision Super’s Conservative, Balanced Growth and Growth investment options. The assumed rates of investment return are calculated based on the strategic asset allocation for these options and return assumptions for each asset class.
The assumed rates of investment return are net of investment costs and taxes. For the period after Retirement age you have selected, your balance is assumed to be invested in a pension account, where earnings are tax free.
| Investment option | Accumulation phase | Pension phase |
|---|---|---|
| Low | 4.4% | 5.2% |
| Medium | 5.6% | 6.4% |
| High | 6.0% | 6.8% |
Fees and insurance premiums
Fees and insurance premiums are assumed to be as follows:
| Administration fee | Accumulation phase | $78 pa Plus 0.14% pa of your account balance (capped at $540) |
| Pension phase | 0.35% pa of your account balance (capped at $1,050) | |
| Contribution fee | Nil | |
Fees are assumed to be tax-deductible in the fund. Other fees and insurance premiums are deducted continuously.
The calculator assumes that default death, total and permanent disability (TPD) and income protection insurance cover is held and the premiums are in accordance with our insurance premium tables, effective from 1 July 2024. Refer to the Insurance Guide for details of the premiums.
Dollar fees and insurance premiums are assumed to increase in line with the assumed level of general wage inflation. Other fees are assumed to remain constant in percentage terms over the projection period.
Life expectancy
Life expectancies allow for future mortality improvements. They were derived based on the medium mortality rate assumptions in the Australian Bureau of Statistics in 'Population Projections 2006-2101'.
Age pension
Current Age pension thresholds and rates of payment are allowed for, based on the Single/Couple and Homeowner status of the user. Thresholds and rates of payment are indexed in line with CPI.
The age pension is subject to an asset test and an income test.
The asset test is based on the accrued balance of superannuation assets and other assets.
The age pension income test is based on deemed, rather than actual, income on superannuation and other assets.
Transition to retirement
The transition to retirement optimisation: assumes that the user continues working at the same rate; makes additional salary sacrifice contributions and draws a pension such that their net income remains constant; calculates the contribution and drawing level which maximises the benefit within the superannuation environment.
Drawings
The drawings from superannuation in retirement are calculated as: Required income less other income (as entered by the user) less any age pension amounts (as calculated by the program).
Minimum drawings
There are statutory minimum superannuation drawings in both the TTR phase and in retirement (once funds have been converted to the pension phase). These statutory requirements require you to withdraw a minimum amount of superannuation each year. This minimum amount is calculated based on your account balance and a percentage factor, which varies by age. The calculator allows for these minimum withdrawal requirements.
Last updated: September 2024
vision-super/5.3.7r26