The Retirement Calculator allows you to determine how long your superannuation benefit may last you in retirement. It allows you to adjust your required income and your expected investment return to see how this can have an effect.
How to use this calculator:
Just below this instruction, you will see 3 tabs named 'Enter your details', 'How long will it last ?' and 'Summary'. Start by clicking on the 'Enter your details' tab and enter all the relevant information. When you have done this, click on the 'How long will it last ?' tab to see your results. Click on the 'Summary' tab to see your results in figures.
Assumptions:
Your retirement income increases each year with price inflation at a rate of 3% pa. The actual rate of price inflation may differ significantly from this assumption.
The calculator initially uses an initial default rate of 6.25% pa. This is a standard rate currently prescribed by the Australian Securities and Investments Commission (ASIC) for use when calculating investment returns on a balanced style investment portfolio.
Your retirement savings increase each year with investment earnings (net of tax) at a default rate of 6.25% pa (ie. 3.25% above inflation). You may change the default rate to see the effect that this may have although the actual rate of return for your investments may differ significantly from this assumption.
These calculations make no allowance for fees or taxation (including taxation on retirement income).
It is assumed that yearly income is paid in the middle of each year.
Disclaimer:
The projection indicates how long superannuation savings may last in retirement. The figures are based on assumptions and are GENERAL ILLUSTRATIONS ONLY. They are not intended to be a substitute for professional financial advice. They do not make any allowance for fees or taxation.
The projection result is NOT GUARANTEED in any way. The actual performance of investments will depend on future economic conditions, investment management and future taxation.
AMP and its related companies specifically disclaims any liability (whether based in contract, tort, strict liability or otherwise) for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with the access to or use of this calculator.
To the extent permitted by law, under no circumstances will AMP and its related companies be liable for any loss or damage caused by a user's reliance on information obtained by using this calculator.
You should not make any decisions on the information contained herein without consulting your adviser, financial planner or accountant.
