The examples shown illustrate projections based on stated assumptions only and are provided in good faith. They have been based on current laws and their interpretation as at 1 January 2017.
Average income payment projections shown are the midpoint of a range of potential returns based on the assumptions listed below and should be used as a guide only.
The purpose of these projections is to show examples of how an income from super can be combined with Government Age Pension entitlements to increase the overall income available in retirement. The information resulting from the projections 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.
The projections are based on AustralianSuper’s retirement income product and on various underlying assumptions listed below.
Results are shown in 5 year age bands and show the average amount of Age Pension and the average amount of drawdown from a retirement income account over each 5 year period for the selected income frequency.
Results are expressed in today’s dollars by allowing for future expected wage inflation of 3.5% pa. CPI growth is assumed to be 2.5% pa, and future investment returns (After investment fees and tax) on the balance at retirement is assumed to be 3% pa in excess of CPI. Tax on investment earnings is assumed to be nil.
Administration fees are $1.50 per week increasing annually with Average Weekly Ordinary Times Earnings (AWOTE) and an asset fee of 0.11% of the account balance (which is capped at $750pa).
The Age Pension estimates assume eligibility for the Age Pension from retirement at age 65, as well as the following assumptions:
We have not considered any other Centrelink entitlements apart from the Age Pension. Contact Centrelink to confirm your eligibility for the Age Pension as the projections are examples only and have not considered your personal information.