Last question before the reveal.
If you’re baking a cake, you usually make sure you have all the ingredients you need. 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. That’s why it’s important to know your income options, and how long your savings could last. You can also keep your super invested into retirement, to give it the chance to grow. 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 have can make up part of your retirement income alongside super.
Super and account-based pension
Account-based pensions allow you to draw a regular income from your super, while keeping the remainder 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 income to draw, and how often - plus you can withdraw extra money when you need.
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Important information to consider
- AustralianSuper data, November 2022.
- 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.