![]() ![]() We assume that the concessional contribution cap will increase in future years with Wage Inflation once the $2,500 increment amounts are reached.At 1 July 2022, the concessional contribution cap is reset to $27,500 for all individuals.We adjust these contributions so you don't exceed the concessional contributions cap (which applies to the total of your employer and before tax contributions).The SG rate is assumed to increase by 0.5% per annum until the SG rate reaches and stays at 12% from 1 July 2025 onwards.īefore tax (salary sacrifice) contributions From 1 July 2022, the SG rate used for the default employer contribution rate is 10.5%.You will satisfy the Work test at older ages and so are able to contribute.Your employer and voluntary contributions will increase with Wage Inflation.You can change this if your employer contributes more than the minimum. We assume that your employer contributes an amount equal to 10.5% of your ordinary time earnings.Enter all your contributions as additional voluntary contributions.Change the employer contributions to 0%.Today’s dollar value adjustment for the period up to retirement.Government co-Contribution salary thresholds.Non-concessional contribution caps (increases only applied in $10,000 increments).Concessional contribution caps (increases only applied in $2,500 increments).$ per annum Administration Fees and Advisor Fees.Average Wage Inflation is used to inflate the following legislative and other factors throughout the projection:.Today’s dollar value adjustment for the period in retirement. ![]() Transfer balance cap (increases only applied in $100,000 increments).Age Pension income means testing threshold.Age Pension assets means testing threshold.CPI inflation is used to inflate the following legislative factors throughout the projection:.We make the following default assumptions about CPI inflation and Wage Inflation (which you can change under the Advanced Settings - Other section of the calculator):.Results are shown in today's dollars, which means they are adjusted for future increases in cost of living by deflating projected values back to today’s dollar value using the Wage Inflation assumption for the period up to retirement and the CPI inflation assumption for the period in retirement.We assume your account balance will receive all income and outgoings mid-year, apart from Government co-contributions which we assume are received at the end of the year.It will not work for defined benefit funds. The calculator works for accumulation funds only.For more information on Treasury’s long-term retirement income modelling assumptions see the 2019 Treasury Research Institute paper ‘Accumulation of superannuation across a lifetime’. The default assumptions in this calculator are based on Treasury’s long-term retirement income models. You may wish to contact the Financial Information Service or get advice from a licensed financial adviser.Īs of 17 April 2020, these calculators will use a single set of assumptions. Consider your own needs, financial situation and investment objectives. There may be other factors to take into account. Do not rely solely on this calculator to make decisions about your retirement.Some of the assumptions can be changed to reflect your personal circumstances.Consider updating the projections provided by this model regularly, particularly if your circumstances have changed.These assumptions are essential so the calculator can show the effect of things you may be able to control, such as choosing a different investment option. This calculator assumes that your contributions are steady and predictable and that all assumptions remain steady.This calculator cannot predict your final superannuation benefit or level of retirement income with certainty because this will depend on your personal circumstances, unexpected life events, the Age Pension paid, investment earnings, tax and inflation.The amounts projected are estimates only and are not guaranteed. The results from this calculator are based on the limited information that you have provided and assumptions made about the future. ![]()
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