Calculate How Much Superannuation is Enough

Without a superannuation calculator, working out how much superannuation you'll need to access in retirement can be a difficult personal decision. Many superannuation advisers, including xLife, have superannuation calculators which can project how much superannuation you may need for a comfortable retirement.

The amount of money you need is dependent upon your own lifestyle choices, and you may also have a range of income options in retirement which can supplement your superannuation, such as part-time work or payments from other investments.

Superannuation calculation example

The next table illustrates the level of monthly before tax or salary sacrifice superannuation contributions you may need to make to get a post retirement income of $20,000 pa or $50,000 pa, based on the assumptions stated below the table.

Income in retirement (before tax) in today's dollars

This table is for illustrative purposes only and is based on assumptions.

A change to one or more of the assumptions and your personal circumstances will produce different results.

This table illustrates the estimated monthly contribution to superannuation required from the age listed to support the payment of a pension, using the following assumptions. The contributions above include the 9% compulsory superannuation contributions in addition to the monthly salary sacrifice contributions. The investor has a starting superannuation account balance of $25,000.

From the age in the table the investor makes the monthly contribution listed from before-tax contributions and is taxed by the fund at 15% until age 65. The investor takes a pension of $20,000 or $50,000 per annum. The investor's superannuation fund provides a return of 7.7% pa net of fees but before taxes; investment earnings in superannuation are taxed at 15% until the investor commences a pension, when no tax is paid.

* This level of contribution is in excess of the caps and will incur additional contributions tax. So please talk to a financial adviser before contributing at this level. (Source: Colonial First State 2009)

Find out how much superannuation you need

You can access a free visual superannuation calculator, however for a personalised  superannuation calculation which takes into consideration your personal situation and available superannuation strategies contact an xLife adviser.

Our advisers can suggest a number of ways to reach your superannuation goals using computer generated projections which take into account factors such as your age, income, tax, strategy options and superannuation contribution levels.

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Talk to a Specialist Superannuation Adviser on 1300 135 205 about growing your superannuation today!

April 2010