Super & Retirement Calculator

After age 60: No tax on lump sum withdrawals, no tax on pension payments, and investment earnings in retirement phase are generally tax-free.

Between preservation age and 60: The tax-free component attracts no tax; the taxable component is taxed at your marginal rate with a 15% tax offset; lump sums are tax-free up to the low rate cap ($230,000 lifetime limit).

When retiring, your main options are: Account-based Pension — convert your super to a retirement income stream, continuing to benefit from tax-free investment earnings; Lump Sum Withdrawal — access your entire balance at once, useful for paying debt but may impact Age Pension eligibility; or a Combination — take a partial lump sum and keep the rest invested.

Consider tax implications, Age Pension eligibility, and long-term income sustainability. A licensed financial advisor can help you choose the best strategy for your circumstances.

The superannuation guarantee (SG) rate is the minimum percentage of your ordinary earnings your employer must contribute to your super. The rate is 11.5% for 2024-25 and increases to 12% from 1 July 2025, where it will remain.

To be eligible for the Age Pension you need to be 67 or older, be an Australian resident for at least 10 years, and meet the income and assets tests.

Assets Test (homeowners, 2024):

• Single: Up to $301,750 for full pension
• Couple: Up to $451,500 for full pension

Maximum Pension (per fortnight): Single $1,116.30 | Couple $1,682.60 combined

The pension reduces gradually as assets increase above these limits. The principal home is excluded from the assets test.