Our Retirement Income chart is based on the information you supplied us regarding your current fund value and members’: gender, current age, gross annual income, annual contribution amounts, work/retirement status, expected retirement age, desired retirement income, and current income withdrawal rate (if retired). We used life expectancy tables provided by the Australian Bureau of Statistics to calculate the expected time your funds may need to last. We also used Morningstar’s long term return expectations for the earnings rate an investor with the risk profile you nominated might expect. We used the current superannuation tax rate of 15% for contributions (30% for high income earners) and earnings and 0% on earnings when members reached 60 and were assumed to commence a pension.
Income, salary and contributions were increased by RBA’s long term CPI rate. The input for the calculator was based on the information provided at the time of the report and does not take into account any changes that may occur with your fund or members’ circumstances.