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Have you considered how you will fund your retirement?
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It’s never too late to think about your life after work
No matter your circumstances, it’s important to know the various ways you can fund your retirement. 70% of working people aged over 50 say they have been thinking about how to fund their retirement2. Here are the three main options, depending on your needs:
Government Age Pension
An income support payment issued to help eligible retirees fund their basic living expenses for life after they finish working. Find out if you could be eligible.
Personal savings and assets
Any property, shares or personal savings you own can also make up part of your income in retirement alongside super.
Super and account-based pension
Account-based pensions are a retirement income option that allows you to draw a regular income stream from your super, whilst keeping the remaining savings invested. At AustralianSuper, you can choose to retire with our award-winning account-based pension - Choice Income3.
Calculate how much you could have for the future
When planning how you might fund your retirement, a great place to start is calculating what your super balance could look like. With our super projection calculator, you can find out how long your savings might last, and how adding extra could help4.
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Important information to consider
- AustralianSuper data, May 2023.
- AustralianSuper Snapshot 2023.
- AustralianSuper received the Canstar Outstanding Value Award – Account Based Pension in 2018-2024. Read the full methodology here. Awards and ratings are only one factor to be taken into account when choosing a super fund.
- Before adding to your super, consider your financial circumstances, eligibility, contribution caps that may apply, tax issues and when your super can be accessed. We recommend you consider seeking financial advice.