![]() Balance shows how long your super balance will last in. To help you understand what your retirement could look like, the Mercer Financial Advice team have developed a Retirement Calculator. This calculator can help you estimate how much you might need depending on the lifestyle you’d like to enjoy, income you might receive in retirement and how long it might last. Income shows your annual income in retirement, combining your income from super with the age pension. Determining how much money you need to retireĮveryone is different and how much money you need to retire depends on your personal circumstances, and the type of retirement you’d like to live. For general information on the government age pension, please see the Services Australia website. The government age pension also has a number of other eligibility criteria which you will need to meet prior to receiving it. The qualifying age currently ranges between ages 66 and 67. The age in which you can qualify for the government age pension is also dependent on when you were born. The below table has been prepared to help you determine when you’ll reach preservation age. tax where there is a drawdown on capital over the period of retirement. You can access your super when you meet a condition of release, the most common being ‘preservation age’, which will depend on when you were born, and currently ranges from age 58 to 60. To give you an idea, The Association of Superannuation Funds of Australia (ASFA). It’s been programmed from UK market data across the last 120 years, including booms, busts, world wars and the UK and global stock market crashes basically, every market condition you could ever imagine. In addition, depending on your circumstances, you may also want to consider at what age you could potentially qualify for the government age pension, a benefit paid to eligible Australians by the government to help them in retirement. Our pension drawdown calculator tests the value of your invested pension pot against real market conditions. ![]() Although there is no mandatory retirement age, according to the Australian Bureau of Statistics, the average retirement age is 55.4 years, with women on average retiring sooner than men.ĭeciding when to retire largely depends on the age when you can access your super. ![]() Deciding at what age to retireĭeciding when to retire is one of the most important decisions of both your personal and working life. For further information about the methodology used by Chant West, see never too early to start planning to help ensure you have enough savings to enjoy retirement – and the longer you have your money in super, the more it’s likely to grow. ![]() Go to for details of its ratings criteria. SuperRatings Pty Limited does not issue, sell, guarantee or underwrite this product. Past performance is not an indicator of future performance. Further information regarding Rest’s awards can be found at /about-rest/awards. Apart from this, Rest does not have any relationships or associations with any related body corporate or product issuer that might reasonably be expected to be capable of influencing any advice provided by Rest in providing financial services.Īwards and ratings are only one factor to consider when deciding how to invest your super. Super Investment Management Pty Limited ABN 86 079 706 657, AFSL 240004, a wholly owned company of Rest, manages some of the Fund's investments. An advice fee may be payable for complex advice and you should read the Rest Advice Financial Services Guide, which you can obtain by calling us on 1300 300 778, before accessing these services. Rest Advice may be accessed by members without incurring additional fees for simple phone-based advice. Rest Digital Advice is provided by Link Advice. Rest Advisers are staff members of Rest and provide advice as authorised representatives of Link Advice. Rest Advice is provided by Link Advice Pty Ltd ABN 36 105 811 836, AFSL 258145 (Link Advice). Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness, our Financial Services Guide, the relevant Product Disclosure Statement (PDS) and the Target Market Determination (TMD). This website contains information which may include general advice but does not take into account your individual objectives, financial situation or needs. This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, A(Rest), as trustee of the Retail Employees Superannuation Trust ABN 62 653 671 394 (Fund), of which Rest Super, Rest Corporate, Rest Pension and Acumen are part.
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