Visualise your super future
Superannuation planning is about making the right decisions for your future. It’s important, but it can seem daunting.
That’s why we’ve made it easier to plan with the help of these super calculators.
If you’re wondering how much super you should put away, or how long it might last as a retirement income, these calculators can help you get a clearer picture of your situation – and the strategies you could use if you’d like to enhance it.
You can examine various components of your super, like investment choice or the impact of making additional contributions over time. If you’re approaching retirement, there’s even a super calculator to explain how a transition to retirement strategy might work for you.
Just enter a few key details and you can start exploring how making simple changes now could positively affect your financial future.
What are you waiting for? Start your super planning.
Grow your superannuation calculators
Explore ways to contribute more
Making additional super contributions while you are working can make a real difference to your future income. Use Grow your superannuation to calculate the additional income you might receive in the future by deciding how much you can afford to contribute now.
Are you thinking about tailoring your insurance cover?
Use this calculator to determine what level of death and TPD cover you may automatically receive through CareSuper. If you are thinking about changing your level of death and TPD cover, simply enter the amount you would like to be covered for to find out how much it will cost.
You can also work out what the cost of income protection cover would be for you. You can apply for income protection at any time (some conditions apply).
Visualising retirement calculator
How much could you have in retirement?
This calculator helps you visualise your retirement. Simply enter details about your current super situation to see your estimated future super balance and income. You can also choose your future retirement goal, explore how to maximise your super savings and understand your investment risk profile.
You will be able to print your personal report that you can take to a Financial Planner to discuss your results.
Transition to retirement calculator
Approaching retirement and wondering what your options are?
If you’re preparing for retirement, a transition plan could help you:
- Boost your super savings and take advantage of potential tax benefits
- Supplement your income if you want to reduce your hours of work in the lead-up to retirement.
A transition to retirement plan can be complex – this super calculator provides you with a general look at what you might be able to achieve using a few basic strategies. The lead-up to retirement is personal and different for everybody, so it’s important to seek financial planning advice before implementing any plans generated by this super calculator.
Please note the following:
- You must be aged at least 55 to implement a transition to retirement strategy
- If you are under 60, there may be tax implications that you should be aware of before commencing a TTR pension. This calculator determines the optimum amount transferred to your pension account that allows for minimum drawdown without excess cash flow. Refer to the ‘Assumptions’ tab within the calculator for further details regarding transfer amounts.
- If you are over 60, your TTR pension is not assessable as taxable income. In order to perform certain calculations, this super calculator assumes that you will transfer your full super balance to a pension account. However, you may need to maintain a working super account as part of your TTR strategy. Please read the CareSuper Pension Guide PDS or full details on CareSuper’s TTR pension.
- This calculator may give you a general idea of what’s possible in your situation, however, we strongly recommend seeking financial planning advice before implementing any part of the scenarios generated. CareSuper members have access to basic super-related financial planning over the phone at no extra cost. For more complex financial matters, members can meet with a financial planner; this advice is provided on a fee-for-service basis and is commission-free.
Investment options calculator
Do you want to find out what type of investment options are right for you?
CareSuper offers 13 investment options – but how do you know which ones are right for you? The Investment options calculator can help you determine your attitude to risk and what type of investment choices suit your investment profile. All you need to do is answer a few simple questions!
Once you have used the calculator, you may like to speak to a financial planner before making any changes to your investment.
This calculator is provided by Industry Fund Services Limited (IFS) under its Australian financial services licence, ABN 54 007 016 195, AFSL 232514.
Frequently asked questions
All you need to know about our super calculatorsWhat are the super planning calculators?
These calculators are intended to help you better visualise your super future. You can see the difference small changes could make to your super savings over the long-term. Changes such as:
- Making additional contributions
- Reviewing your investment profile
- Retiring later
- Implementing a transition to retirement strategy.
Note that while the super calculators are a useful starting point and provide financial projections based on information that you enter, they are not a substitute for professional financial planning advice.Who can use the super planning calculators?
Anyone – you don’t have to be a CareSuper member. However, if you are a member and wish to discuss any of the results further, financial planning advice is available to you by contacting CareSuper.Why do I need to enter my personal information?
The information used to prepare your projections is based on information that you provide, as well as certain assumptions that sit behind these calculators. The more accurate your information, the more accurate the estimation provided by the calculator. However, the information supplied by these calculators is not a true representation of any actual superannuation entitlements and should not be relied upon in this way.Who can view my information?
You can choose to remain anonymous, which means you are the only person who can view the information you have entered; however, you will need to re-enter your information each time you return. To save time, you can register.
Registering means you can come back and adjust your information as it changes or explore different strategies. You can also seek financial planning assistance on any of the scenarios you generate, and CareSuper’s financial* planners can view your information. To protect your privacy these tools will ‘time out’ after 20 minutes of inactivity.*Financial advice is offered through CareSuper’s relationship with Industry Fund Services Limited (IFS), and is provided by an authorisation under the Australian financial services licence of IFS, ABN 54 007 016 195, AFSL 232514.How do I retrieve a saved calculator?
When you click on any of the calculators you will be asked if you are a new or registered user. If you registered on a past visit, simply enter your email address and password.Can I change any of the assumptions?
Yes, a few. Under the ‘settings’ tab, you can adjust the rate of inflation. This is set at a default of 3.5%. You can also change your life expectancy age, currently set at age 90.Can I enter property or possessions outside of super?
The Visualising retirement super calculator gives you the option of including or excluding the Age Pension in your retirement calculations (simply check or uncheck the box).
If you include the Age Pension, you will need to estimate any non-super investments so these amounts can be included for accurate Centrelink asset and income test calculations. If you choose not to include the Age Pension the projections will be based solely on your super savings.Can I use the super planning calculators if I am self-employed?
If you are self-employed and meet the following conditions these tools will not be accurate for you:
- Have not set up your business to be your employer
- Do not pay Pay As You Earn (PAYE) income tax, and
- Your business does not pay employer contributions into a super fund for you
Your contribution options differ to those of employees and you should consider seeking assistance from a professional financial planner.What rate of return does the calculator use and can I change it?
Investment earning rates for each investment option are detailed below. Actual earning rates will differ from the assumptions used, particularly over the short-term. The resulting benefit can vary widely depending on the assumptions used.
The following default returns have been used for the projected results:
- Conservative: 5.0%
- Cautious: 6.6%
- Moderate: 7.3%
- Assertive: 8.2%
- Aggressive: 8.5%
- Highly Aggressive: 8.8%
The above rates do not take into consideration any fees. However, an allowance of 15% earnings tax has been deducted on all earnings within superannuation (accumulation phase).Can I include the Age Pension in my projections?
Yes, you have the option of including or excluding the Age Pension in your projections.Can I include lump sum contributions?
No, you can’t include one-off lump sum contributions. However, if you are close to retirement you could consider changing the amount you enter as your super balance to reflect the lump sum contribution you expect to make.Can I view the calculators on an iPhone or iPad?
Yes, these calculators are compatible with any screen size.
These super calculators are provided to CareSuper members to enable them to engage with and consider their future income in retirement. The super planning calculators provide an indication only based on limited information, which is not guaranteed. Information used in preparing your projections is based on information that you provide, and the assumptions that sit behind these calculators are considered to be from a reliable source. However, the information supplied by the calculator should not be relied upon as a true representation of any actual superannuation entitlements or benefits.
You should consider your own circumstances and read the appropriate Product Disclosure Statements prior to making any decisions.
You may wish to consult a licensed adviser.
These calculators are provided by Industry Fund Services Limited (IFS) under its Australian financial services licence, ABN 54 007 016 195, AFSL 232514. Projections are based on information that you provide in addition to certain required assumptions which generate the projections. The projections are not guaranteed to be accurate or complete and CARE Super Pty Ltd takes no responsibility for errors or omissions.
Tax and superannuation laws are complex. These super calculators are based on the current understanding of those tax and superannuation laws effective as at 1 July 2015. Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments.
Please note the following when using these calculators:
1. To protect your privacy and to maintain the security of information that you enter, these tools will ‘time-out’ after 20 minutes of inactivity.
2. If you are self-employed and have not set up your business to be your employer, do not pay Pay As You Earn (PAYE) income tax and your business does not pay employer contributions into a super fund for you, then these tools will not be accurate for you. Your contribution options differ to those of employees and you should consider seeking assistance from a professional financial planner.
3. These tools do not take into account the Government co-contribution.
4. These tools do not take into account the additional super tax on concessional contributions where income exceeds $300,000.