Last question before the reveal.
When preparing for retirement, did you work out how much super you would need to achieve your retirement goals?
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Funding your retirement
For many people, retirement can last upwards of 25 years. Understanding the income options available to you can be a great way to boost your confidence and help you understand how long your savings could last.
There are different ways to fund your retirement, including super options that keep your savings invested and give your money the chance to grow in the future. Here are the 3 main sources of retirement income:
Government Age Pension
The Government Age Pension is an income support payment to help eligible retirees fund their living expenses. For many, this option works alongside super savings to fund retirement. 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 Income2.
Choice Income offers the flexibility to choose how much you want to be paid and how often – along with the freedom to take out extra money from your account at any time.
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Important information to consider
- AustralianSuper data, November 2022.
- AustralianSuper received the Canstar Outstanding Value Award for Account Based Pension in 2022. Awards and ratings are only one factor to be taken into account when choosing a super fund. For details view canstar.com.au/star-rating-reports/account-based-pensions/