Transition to Retirement (TTR) calculator
What is Transition to Retirement?
TTR is a retirement strategy that can be used in different ways as you gradually move into retirement. You can use it to top up your income as you ease back on the hours you work. You can also use it to give your super a boost before you retire. The TTR calculator covers all of this.
The TTR calculator
When transitioning to retirement, it is possible to reduce the hours you work without reducing your income, by tapping into part of your super. The calculator below is a useful and straightforward, tool to help you work out how you could transition to retirement by looking at your current and future retirement goals.
It’s also a good idea to do a quick review every year in case your goals have changed.
Your Industry SuperFund can help you set up a TTR strategy for when you have reached the age at which you can access your super.
Please note this calculator will be updated shortly to include EOFY 2017 legislation changes.
Transition to Retirement Calculator
Are you making extra super contributions?
I want to grow my super and maintain my current income
How a TTR strategy could work
Suggested salary sacrifice
Suggested income drawdown
Change to your take home pay
As the lead up to retirement is different for everyone it's important to seek financial advice before you decide whether a TTR strategy is right for you or implement any plans based on the results generated by this calculator. We recommend you speak to your Industry SuperFund before making a decision. Contact your fund now.
Contact your fund now.
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AustralianSuper is for all Australians
More than $91 billion in assets
More than 2 million members
AustralianSuper is one of the largest industry super funds and has 210,000 participating employers. It is the Industry SuperFund for all Australians and anyone can join.Join AustralianSuper Visit the website Close
Cbus is for anyone in construction and building
More than $31 billion in assets
More than 726,000 members
Cbus is the Industry SuperFund focused on the construction, building and allied industries. Established in 1984, it has 80,000 participating employers.Join Cbus Visit the website Close
The industry super fund dedicated to health and community services.
More than $32 billion in total assets
More than 800,000 members
More people in health and community services choose HESTA for their super. Click here to find out why.Join HESTA Visit the website Close
Hostplus is for anyone in hospitality, tourism, recreation and sport
$18 billion in assets
Close to 1 million members
Hostplus is the national superannuation fund for the hospitality, tourism, recreation and sport industries and is one of the largest super funds in Australia.Join Hostplus Visit the website Close
MTAA Super is for anyone in the motor trades
More than $8.6 billion in assets
More than 254,000 members
MTAA Super is the Industry SuperFund for those working in the motor trades and is also open to the general public.Join MTAA Super Visit the website Close
CareSuper is the super fund for professionals
Over $10 billion in assets
More than 253,000 members
CareSuper has been looking after people from all sorts of professions since 1986 and has over 63,000 participating employers.Join CareSuper Visit the website Close
LUCRF Super is for hard-working Aussies in any industry
Over $4.8 billion in assets
LUCRF Super has looked after members and employers across Australia since 1978.Join LUCRF Super Visit the website Close
NGS Super is for anyone in education and community-focused organisations
$6.5 billion in assets
More than 100,000 members
NGS Super is dedicated to people working in education and community-focused organisations.Join NGS Super Visit the website Close
Media Super is for anyone in print, media, entertainment or the arts
More than $4.2 billion in assets
Over 107,000 members
Media Super is the Industry SuperFund for people working in print, media, entertainment and art industries and has 13,000 participating employers.Join Media Super Visit the website Close
TWUSUPER is for anyone in the transport and logistics industry
Over $4.1 billion in assets
More than 120,000 members
TWUSUPER is the Industry SuperFund for people in transport and logistics. Established in 1984, TWUSUPER has over 15,000 participating employers.Join TWUSUPER Visit the website Close
AustSafe Super is for anyone working in rural or regional Australia
$1.9 billion in assets
More than 116,000 members
For over 25 years, AustSafe Super has been committed to looking after the superannuation savings of members from all sorts of industries in regional cities, towns and in the country.Join AustSafe Super Visit the website Close
Energy Super is for anyone in the electrical and energy industry
$6 billion in assets
Energy Super is a profit-for-members fund established to provide a complete retirement planning solution for everyone, with a continued focus on employees and their families in the energy industry.Join Energy Super Visit the website Close
First Super is the Industry SuperFund for the timber, pulp & paper and furniture & joinery industries
More than $2.3 billion in assets
Close to 70,000 members
We welcome all Australians regardless of their occupation or location but we have particularly strong links to the timber industry, the pulp and paper industry and the furniture and joinery industry.Join FIRSTSUPER Visit the website Close
legalsuper is for anyone working in the legal community
More than $2.6 billion in assets
Over 42,000 members
Established more than 26 years ago, legalsuper manages over $2.6 billion for 40% of Australia’s legal community including Judges, Barristers, Lawyers and management and support staff of legal practices.Join legalsuper Visit the website Close
This calculator generates information illustrating the impact of making salary sacrifice contributions and effecting a Transition to Retirement Income Stream, based on certain assumptions. Assumptions can be found here. Some factors that may affect your retirement outcomes may not have been taken into account.
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 individual tailored financial advice whenever necessary.
The "Transition to Retirement" outcome uses an actuary projection and the following assumptions, some of which you can change:
|Salary increase: 3.5%||Asset fee: 1.1%|
|Inflation: 2.5%||Admin fee (per year): $50|
|Advisor service fee: 0%|
|Insurance premiums (per year): $0|
|Accumulation: 5.7%||Employer super payments: 9.5%|
If you want to adjust any of these assumptions click here.
Fixed assumptions and settings
The outcome relies on the following fixed assumptions and settings which cannot be changed:
- Superannuation Guarantee Contribution is currently 9.5% and then increases to 12% as per current legislation
- In estimating your retirement balance, we have taken into account an assumed change in the cost of living on 2.5% per year CPI between now and your retirement. You can adjust that rate above.
- The LISTO applies from 1 July 2017
- Contribution tax of 15% is assumed
- No tax is payable on fees
- No contribution fee payable
- The user is assumed to be in an accumulation fund, not a defined benefit fund
- The user is assumed to be an Australian resident
- Regular Medicare levy is used with no reduction or surcharge
- The maximum super contribution base of $52,760 per quarter is applied. This is the sum, set by the Federal Government each year, which is the maximum income on which employers must pay the Super Guarantee. In 2017/18 it is $52,760 per quarter ($211,040 per year).
- It is assumed the user will not take a break from the workforce
- The estimates are displayed in "today's dollars"
- Assumptions and settings are derived from assumptions used in ASIC's Money Smart superannuation calculator (as at September 2016) and/or ISA's net benefit model which is the model prepared by independent ratings agency SuperRatings