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Super Guarantee Gadget

Currently, if you’re eligible for the Super Guarantee, your employer is required to pay at least 9.5% of your salary into your super fund.

The good news is that the Super Guarantee rate is supposed to rise to 12%. The increase has been legislated by the Parliament, and promised by the Government. 

The bad news is some politicians want the Government to break its promise, and cut the promised increase in super contributions.

If politicians break their promise and cut the increase, Australian workers could stand to lose hundreds of thousands of dollars in retirement savings. This could be you.

Australian workers can’t afford another delay. Politicians need to keep their promise and increase the Super Guarantee.

Use this tool to see how much super you could lose if the increase doesn’t go ahead.

The current Super Guarantee is on track to be raised to 12%

How much super could you lose if politicians break their promise?

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See the difference to your super
at retirement

$0 9.5% payment
vs
$0 12% payment

If the Government breaks their promise,
you could stand to lose $0

Assumptions

Assumptions

Investment returns
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Inflation
Fees
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Fixed assumptions

  • This calculator works for accumulation funds only. It will not work for defined benefit funds.
  • This calculator does not allow self-employed people to project their retirement balance
  • Outcome is based on your contributions being made annually, at the mid-year point, on your fees being deducted annually and your investment returns being credited to your account annually
  • We assume that your super is invested in a balanced option
  • Superannuation Guarantee Contribution is currently 9.5% and then increases to 12% as per current legislation
  • The LISTO applies from 1 July 2017
  • No tax is payable on fees
  • We assume that you have provided your Tax File Number to your superannuation fund
  • All amounts are in today's dollars which means they are adjusted for inflation
  • We assume that inflation is 2.5% each year due to the rising cost of living. Employer and voluntary contributions, fees and the concessional contribution cap increase with inflation.
  • We assume that you will satisfy the Work test at older ages and so are able to contribute
  • We assume that when you exceed the concessional contributions cap ($25,000 in 2019/20), you pay contributions tax according to your adjusted taxable income on any additional superannuation contributions
  • This calculator assumes the user retires at the preservation age of 67
  • For a calculation of your retirement that works with variables outside of the listed assumptions, you can use our Retirement Balance Projector

Disclaimer

Limitations

Your retirement outcome will be affected by many things including the amount of contributions you make, fees, investment returns and regulatory changes. Some factors that may affect your retirement outcomes may not have been taken into account.

Outcome is based on your contributions being made annually, at the mid-year point, on your fees being deducted annually and your investment returns being credited to your account annually.

This is a Model, not a Prediction

The tool is not intended to be relied upon for the purposes of making a financial decision. Consider a fund’s PDS and your objectives, financial situation and needs, which are not accounted for in this information before making an investment decision. You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.

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