Superannuation calculator

• 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.
• The results from this calculator are based on the limited information that you provide and assumptions made about the future. The amounts projected are estimates based only on that information and are no guaranteed.
• This calculator cannot predict your final superannuation benefit. This will depend on your personal circumstances, including unexpected events in your life, and external factors such as investment earnings, tax and inflation.
• This calculator assumes that you can make steady, predictable contributions and that all assumptions including these external factors will operate at set, steady rates for as long as you remain in the fund, even if events turn out differently from what's assumed. These assumptions are so the calculator can show the effect of things you may be able to control, such as choosing a low-fee fund.
• You can re-use this calculator regularly as your circumstances change. You can also change and update some of the assumptions to reflect your personal circumstances.
• Do not rely on this calculator to make decisions about your retirement as there will be other factors to take into account. Consider your own investment objectives, financial situation and needs. You may wish to get advice from a licensed financial adviser.

• The calculator works for accumulation accounts only. It will not work for defined benefit accounts.
• We assume your account balance will receive all income and outgoings mid-year, apart from Government co-contributions which we assume are received at the end of the year.

Inflation assumptions

We make the following default assumptions on inflation (which you can change under the 'Advanced - insurance and inflation' section that appears below calculator results):

• 2.5% each year due to the rising cost of living (CPI inflation)
• A further 1.2% each year due to the cost of rising community living standards

If you are self-employed

To use the calculator:

• Change the employer contributions to 0% in 'You and your super fund'
• Enter all your contributions as voluntary contributions

Contributions

• We assume that your employer contributes an amount equal to 12% of your ordinary time earnings. You can change this in 'You and your super fund'.

In future years we assume that:

• Your employer and voluntary contributions will increase with inflation
• You will satisfy the work test at older ages and so are able to contribute

Before tax (salary sacrifice) contributions

• We adjust these contributions so you don't exceed the concessional contributions cap (which applies to the total of your employer and before tax contributions)
• At 1 July 2025, the concessional contribution cap is $30,000 for all individuals.
• We assume that the concessional contribution cap will increase in future years with wage inflation once $2,500 steps are reached.

After tax contributions

We adjust these contributions so you don't exceed the annual non-concessional contributions cap. We do not allow for a higher cap that can apply over three consecutive tax years in some circumstances because the calculator can only make estimates based on regular contributions each year.

• The non-concessional contribution cap is set at 4 times the concessional cap and so will increase at the same time in future years.
• Should your projected total superannuation balance exceed the projected transfer balance cap (see below) at any year in the projection, your projected non-concessional contributions will be restricted to zero for that year.

Transfer balance cap

• There is a cap on the amount of superannuation your can transfer to account based pensions in retirement. This transfer balance cap is $2,000,000 at 1 July 2025 and is indexed with CPI inflation over time. It increases in increments of $100,000.

Government contributions

• We assume that you may qualify for the Government co-contributions if you make after tax contributions, depending on your total income.
• The total income we use to determine if you qualify for any co-contributions is equal to your annual salary before tax and any salary sacrificed super contributions
• The projection allows for the Government low income superannuation tax offset. Your eligibility for this payment is based on your annual income, employer contributions and salary sacrifice contributions.

Low income super tax offset

We assume that you qualify for a low income superannuation tax offset if your income is below the relevant Government threshold. The total income used by the calculator to estimate if you qualify for a low income super tax offset is equal to your salary before tax and before any salary sacrifice. Any income from other investments is not included in an estimate of total income. Eligibility for a low income super tax offset is also subject to age restrictions and minimum working requirements.

Results are shown at 1 July

Your projected super balance is shown at 1 July after you reach the indicated age on the chart. For example the super balance shown for age 65 is the balance at 1 July after your 65th birthday.

We make the following default assumptions for investment returns, depending on the type of investment option you choose:

Actual returns will vary significantly from year to year and could be negative in some years, particularly for investment mixes where more is invested in shares and property. This calculator does not allow for such variations. You can vary assumptions in 'You and your super fund' and 'Compare alternative fund'.

There's a lot to consider when comparing investment options between funds. Risk and return objectives and asset allocation within investment options may differ between funds and should be taken into account when comparing funds.

Tax

• We assume that you have given your tax file number (TFN) to your superannuation fund.
• 15% tax is deducted from your employer contributions and before tax (salary sacrifice) contributions. We use the earnings tax assumptions above to allow for the tax on the investment earnings of your superannuation fund prior to retirement.
• As we automatically cap your contributions, tax on excess concessional or non-concessional contributions is not relevant. No allowance is made for any other tax. In particular, if you receive a benefit amount before age 60 no allowance is made for any tax that you may have to pay.

Fees

Administration fees

• We assume that dollar per annum administration fees will be charged mid-year on average and will increase with inflation each year and that the administration fees charged as a % of your balance are charged mid-year on average.
• We assume that these fees are tax deductible within super.
• We make a default assumption for administration fees of $59 per annum in today’s dollars, plus 0.08%pa of your account balance.

Contribution fees

We make a default assumption of 0% contribution fees.

Where you choose to add a cost, we assume that contribution fees are deducted from your contributions as they are paid into superannuation, and that these fees are tax deductible within super.

Adviser Service fees

• In 'Advanced settings' you can enter the adviser service fees that you are charged. We assume the dollar per annum adviser fees are charged mid-year on average and will increase with inflation each year and that the adviser fees charged as a % of your balance are charged mid-year on average.
• We assume that these fees are tax deductible within super.

Insurance premiums

• We assume that insurance premiums are tax deductible within super.
• We make a default insurance premium assumption that $521 will be charged mid-year on average and will increase with inflation each year.

In 'Advanced settings' you can enter the insurance premiums that are charged annually to your account. We assume the same amount (in today’s dollars) will be deducted in future years until retirement.

Leaving insurance premiums at $0 will make a fees comparison easier if you wish to assess the insurance premiums and cover provided separately. Alternatively work out the insurance premiums in each fund for the same amount of cover and include this in your fund comparison.

Further information

Super contributions must remain in super until you have met a condition of release. Weigh up the benefits of extra super against your other priorities, for example paying off your credit cards.

Details of your super can be found on your latest super account statement or by logging into your super account online.