Retirement

Retirement Income Calculator

Estimate the annual income your savings can sustainably support, and how long a target income will last.

Estimate the sustainable income your retirement savings can support, and how long a target income will last.

Retirement balance

Target annual income (today's $)

Retirement age

yrs

Draw down until age

yrs

Inflation

Risk profile

Returns are net of tax and investment fees.

Default fees applied: $69 p.a. (today's dollars) plus 0.14% p.a. of your account balance.

Enter your retirement balance, target income and ages to see your results.

Disclaimers

This is a model based on a set of assumptions, it is not a prediction. Do not rely on these estimates to make financial decisions.
Projected amounts are estimates only and are not guaranteed. Actual outcomes depend on personal circumstances, life events, age pension entitlements, investment earnings, tax and inflation.
The calculator assumes all assumptions remain steady and predictable, reuse it and update your inputs as your circumstances change.
Consider your own needs, financial situation and objectives and speak with a licensed financial adviser before acting.

General assumptions

Works for account-based pensions funded from accumulation super only, not for defined benefit accounts.
You are assumed to have retired on or after your preservation age.
Your balance is assumed to receive all income and outgoings mid-year.
Results are shown in today's dollars (adjusted for inflation).
Projected balances and income are shown at 1 July after you reach the indicated age.

Drawdowns and income

The calculator solves for the drawdown required to deliver a steady annual income until your chosen end age.
Minimum drawdown rules are applied each year, which may result in a higher payment being taken in some years.
Only income from your account-based pension is included, Age Pension and other investment income are not included in the projection.

Transfer balance cap

There is a cap on the amount of super you can transfer into an account-based pension. This is $2,100,000 at 1 July 2026 and is indexed with CPI inflation in $100,000 increments.
The calculator does not allow for balances above the transfer balance cap.

Inflation

CPI inflation of 2.5% p.a., used to inflate your retirement income and to convert future values to today's dollars.
Wage inflation of 3.7% p.a., used to inflate dollar-based administration and adviser fees.

Investment returns (gross of tax, net of investment fees)

You can either select a pre-set investment option or enter your own expected return.
Pre-set options: Conservative 4.2% p.a. · Moderate 4.8% · Balanced 5.5% · Growth 6.2% · Aggressive 6.8%.
If you enter a manual return, enter it net of tax and investment fees so it is on the same basis as the pre-set options.
Actual returns vary year to year and can be negative, particularly for growth-oriented options. The calculator does not model that variability.

Tax and fees

Assumes your tax file number (TFN) has been provided to your fund. No allowance is made for tax on benefits taken before age 60.
The default fee setting applies admin fees of $69 p.a. (in today's dollars) plus 0.14% p.a. of your account balance.
Alternatively, you can switch to manual fees and enter your own fixed dollar fee and percentage-of-balance fee.
Adviser service fees ($ p.a.) and other percentage-based fees can be added under Advanced settings, and are applied on top of the admin fees above.
Fees are assumed to be tax deductible within super and are charged mid-year on average.

Assumptions and disclaimers adapted from ASIC MoneySmart.

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