Super to income Reckoner

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SuperGuide’s Super to income Reckoner can help you quickly and simply understand approximately how much retirement income your super savings might be able to generate.

The figures used in the reckoner have been sourced from the MoneySmart Retirement Planner, a powerful tool that we highly recommend you try for yourself. This reckoner is not intended to replace the calculator, but rather complement it by making it easier to quickly compare different scenarios.

The reckoner allows you to filter for the following factors:

How much you are likely to have saved in super
Whether you are single or a couple
The age you would like to retire
Whether or not you would be eligible to receive the Age Pension
Whether you anticipate a return on your savings of 2%, 3%, 4%, 5%, 6%, 7% or 8% per year (net of fees)
Whether you’d like your super to last until you’re 85, 90, 95 or 100.

The tool then shows you approximately how much annual retirement income you would likely receive for each scenario. For example, if you are a couple seeking to retire at 65 with a super balance of approximately $1,250,000 (combined), are eligible for the Age Pension, are anticipating a return of 5% per year, and would like your super to last until you are aged 90, then you can expect an income of approximately $72,665 per year.

The Super to income Reckoner is similar to our Income from super Reckoner but works the opposite way.

Note: We do not consider it realistic to achieve returns of 7% or 8% per year net of all fees, particularly over such a long time period, but we have added these as points for comparison after requests from readers.

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Disclaimer

This reckoner is only intended as a guide to present approximate scenarios and should not be relied on to provide definitive figures on what your retirement income is likely to be. We highly recommend that you try the MoneySmart Retirement Planner for yourself but remember that it’s only a model and not a prediction.

To view a demonstration video of how to use the MoneySmart Retirement Planner, see SuperGuide article Video: How to use the MoneySmart Retirement Planner.

To use the reckoner just click on the filter buttons, then select the boxes that you would like to filter on and click OK. The corresponding results will appear below. Repeat for each filter you would like to apply to further narrow down the results.

We’ve also produced a short video to show you how the reckoner works which you can find below the table.

	Relationship status	Retire at	Eligible for Age Pension?	Super balance at retirement	Return on savings (% per year)	Super lasts until	Annual Income
wdt_ID	Relationship status	Retire at	Eligible for Age Pension?	Super balance at retirement	Return on savings (% per year)	Super lasts until	Annual Income	Part AP from
1	Single	Age 60	Yes	100000	2%	After age 85	21,492	67
2	Single	Age 60	Yes	200000	2%	After age 85	24,961	67
3	Single	Age 60	Yes	300000	2%	After age 85	27,872	67
4	Single	Age 60	Yes	400000	2%	After age 85	30,793	67
5	Single	Age 60	Yes	500000	2%	After age 85	33,716	67
6	Single	Age 60	Yes	750000	2%	After age 85	39,253	67
7	Single	Age 60	Yes	1000000	2%	After age 85	43,687	68
8	Single	Age 60	Yes	1250000	2%	After age 85	48,505	71
9	Single	Age 60	Yes	1600000	2%	After age 85	56,250	74
10	Single	Age 60	Yes	2000000	2%	After age 85	63,771	77

Assumptions

You own your own home and have personal assets of $25,000 or less. These calculations do not allow any investment assets outside super. Note that the amount of investment assets you have can greatly affect the amount of Age Pension you are eligible for.
Results are in today’s dollars. Inflation costs are a 2.5% rise per year in cost of living, plus a 1.5% additional rise per year in living standards.
You retire after you reach Age Pension age.
All returns are net of fees.
Calculations for couples assume both are same age and super balance is split evenly.
We recommend you also review the assumptions that MoneySmart list below their calculator.
Calculations were made April 2021.