Retirement Income Calculator

Ready to start thinking about the future? We know it’s exciting, but it can be hard knowing where to begin. Luckily, we have the tools to help you plan for life after work.

This calculator will provide an estimate of your future income in retirement, and help you understand the actions you could take to achieve the lifestyle you want.

How much money do I need to retire?

Everyone is different — it’s up to you to decide what kind of lifestyle you would like to have once you stop working full time.

When considering how much you would like to save, it’s important to think about what age you would like to retire at and how long your super balance is likely to last. The retirement calculator above will help predict what kind of income you can expect to have and what you can do to create the lifestyle you want.

How long will my super last?

The answer to this depends on many things, from when you decide to finish working and any career breaks you take, through to your contribution and investment strategy. Of course, if you’d like to continue investing your super with the idea that it will keep growing after you retire, you could consider a CareSuper account-based pension.

The earlier you start planning for retirement the better. Our Retirement Guide will help you understand the steps you can take to achieve financial freedom and CareSuper members are also entitled to basic super-related financial advice with dedicated experts at no extra cost.

When can I access my super?

The government regulations for accessing super mean that you will need to meet one of the below conditions:

  • You turn 65 (you don’t have to stop working if you don’t want to)
  • You reach your preservation age and permanently retire or start transitioning to retirement
  • You turn 60 and leave your employer – this means you have access to preserved benefits.

To learn more about gaining access to your super, read our Accessing your super fact sheet.

What is my ‘preservation age’?

Your preservation age is the age at which you can access your super if you are retired or start to transition to a retirement income stream. This is based on the year you were born and is set out below.

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 - 30 June 1961 55
1 July 1961 - 30 June 1962 57
1 July 1962 - 30 June 1963 58
1 July 1963 - 30 June 1964 59
After 30 June 1964 60


Why is this estimate different to the retirement income projection on my statement?

We’re required to use assumptions and figures from the government's regulations to work out the estimate in your statement, so it differs from your online retirement estimate. Your online retirement estimate uses different assumptions, which you can edit, to tailor the inputs so they match your circumstances. 

Have another question in mind? See our Retirement FAQs for more.