Retirement Income Calculator



Before you start, you need to read this

The AustralianSuper Retirement Income Calculator is provided by AustralianSuper Pty Ltd ABN 94 006 457 987, ASFL 233788, the Trustee of AustralianSuper ABN 65 714 394 898. The calculator provides illustrative calculations based on stated assumptions only and is provided in good faith. It has been based on current laws and their interpretation as at 1 July 2014.

The purpose of this calculator is to show you how much income your super will give you in retirement and the steps you can take to increase it. The calculator has not taken into account your lifestyle expenses and other commitments like a mortgage or personal loans. You should consider whether these debts should be paid off before putting money into super, which you generally cannot access until you retire.

If you received a message stating how many years your super will last in your online account, this calculation is based on your current account balance and projected contributions and returns using the pre-populated inputs and assumptions in Step One of the AustralianSuper Retirement Income Calculator.

The information resulting from the calculations is general and should not be relied upon as a true representation of any actual superannuation entitlements or benefits from any particular scheme or relied on as a basis upon which to alter your financial situation without advice from a professional. You should assess your own financial situation and consult a financial adviser before you make any changes to your financial affairs.

This calculator is based on the features of the standard AustralianSuper accumulation and retirement income products.


The results produced by this calculator are based on various underlying assumptions below. You can change the value of important assumptions in Step One of the calculator.

Important information for those members who had an AustralianSuper Retirement Income account prior to 31 December 2014:

If you were receiving Centrelink payments and had an existing retirement income account on or before 31 December 2014, your income is assessed by Centrelink under different rules to those that are applied by this calculator. Please go to or speak to a financial adviser on 1300 300 273 for more information.

About you

In retirement it is assumed that all of your super balance is converted to a retirement income account from a taxed super fund with payments made monthly.

You are assumed to retire at the end of the financial year in which you reach your nominated retirement age.  The calculator assumes that you have reached your preservation age or have met a relevant condition of release as at your nominated retirement age.  If this is not the case you will not be able to access your superannuation benefits until after you have reached your preservation age or satisfied a condition of release.

It is assumed you will satisfy the work test for making contributions from age 65 to 75 and you have provided your Tax File Number to your super fund.

Your partner

If you have indicated a partner your partner is assumed to retire at age 65.


Administration fees are based on the AustralianSuper Industry and retirement income products as noted in the assumptions in Step One. No indexation of the administration fee is applied.

The indirect cost ratio (the cost to manage your investment) is based on the AustralianSuper Balanced investment option. Different fees apply to other investment options. The indirect cost ratio is calculated based on the average account balance over the year, assuming contributions are made quarterly. It is based on the Balanced option expected long-term crediting rate.

Insurance fees and any other variable and fixed fees in the AustralianSuper product have not been considered in this calculator.


We have assumed the following indexation rates and methodology:

  • The results shown are deflated to today’s dollars which means they are adjusted for inflation. The default is set at 3% pa but you can change this assumption in Step One
  • Salary is indexed to the salary growth rate (you can change this rate if desired)
  • Concessional contribution caps are indexed by 3% pa
  • Tax rates and administration fees are not indexed.

Other information

Calculations start on 1 July and are for the full year.

We assume that you qualify for the Government Co-contribution if you make after-tax contributions and are below the income limit. The total income used to determine if you qualify for any Co-contribution is equal to your annual salary before tax.

No allowance has been made for the effect of reportable fringe benefits on the Government Co-contribution or Medicare surcharge.

The life expectancy information is based on population mortality as shown in Australian Life Tables 2005-2007.

Inflation and investment portfolio earnings are taken to be constant for the whole period at the rates shown in Step One of the calculator (you can change these rates if desired). The default assumptions used are based on AustralianSuper’s Balanced option, which are consistent and reasonable over the long-term. Actual returns and inflation will differ from the assumptions used, particularly over short time periods.  Over the shorter term wider variations in investment performance can occur particularly for those portfolios with higher allocations to growth assets such as shares and property. These variations can have a material impact on the illustrations produced.

For the estimation of Government Age Pension entitlements, we assume:

  • The current Age Pension rules apply in the future
  • The amount of the Age Pension paid by Centrelink will increase with inflation
  • You are eligible for the Age Pension if you qualify under the assets test and income test applied by Centrelink
  • If you choose to include your partner's details in the projection, we assess your age pension entitlements and eligibility as a couple
  • In applying the assets test, we allow for your personal assets, your investments outside super and your super account balance and whether or not you are a homeowner
  • In applying the income test, we allow for income on your investments outside super based on Centrelink's deeming rules and for regular payments made from your retirement income account
  • The relevant thresholds for the assets and income tests increase in line with the cost of living.

We have not considered any other Centrelink entitlements apart from the Age Pension.


Read our Privacy Collection Statement for a summary on why we collect the personal information requested in this form and how we handle that information.