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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.

The purpose of this calculator is to provide you with an initial indication of what you might be able to achieve using a few basic strategies. Transition to Retirement plans can be complex. We recommend you speak to your Industry SuperFund before making a decision.

Transition to Retirement Calculator

Step 1 of 5
You are too young for a Transition to Retirement strategy, would you like to do a Retirement Projection instead?
You are too young for a transition to retirement pension, you need to be (preservation age). Would you like to do a Retirement Projection instead?
Sorry you are too young for a transition to retirement pension.
Sorry, transition to retirement pensions are only available up to age 65.
Please enter your age (don't be shy).
Are you already retired? This calculator is for working people planning a transition to retirement.
Sorry this is a retirement planning calculator and you have indicated that you are already retired.
It looks like you are retiring now, you will need to have at least 1 year of transition to use this calculator.
Please allow at least 1 year between current age and retirement.
You can receive transition to retirement income until you reach 65.
You are planning to retire too young for a transition to retirement pension, you need to be (preservation age). Would you like to do a retirement projection instead?
Sorry your transition to retirement pension is starting too young, please adjust to (preservation age) or older.
 
 
Choose one
(you can adjust later)
Please select an option.
 

The basics

I am
This calculator is for working people planning a transition to retirement.
Sorry this is a retirement planning calculator and you have indicated that you are already retired.
Your salary (before tax, excluding super)
Please enter your salary.
TTR may not be beneficial as your employer contribution should have reached the contribution cap.
This calculator is for working people who are earning and planning a transition to retirement.

Are you making extra super contributions?

Before tax (salary sacrifice)
Extra take home pay needed (after tax)
Please enter your extra take home pay.
We have reduced your extra take home pay to stay within the maximum.
Please enter your extra take home pay.
 

You said
I want to grow my super and maintain my current income

Your income needs to be higher than $260 per year before this strategy could benefit you. You could try co-contribution to help build your super.

How a TTR strategy could work

-$83
and you could end up with
+$57,362 extra at retirement

Here's how

Make extra super contributions (Salary sacrifice)
Change from $0 per year to
We reduced the salary sacrifice to stay within the maximum.
Take an income (TTR) from my super
We reduced the TTR to stay within the maximum.

Take action

Suggested salary sacrifice

$527 Per week ($27,400 annually)

Suggested income drawdown

$170 Per week ($8,840 annually)

Change to your take home pay

Reduce from $1,170 per week ($60,840 annually) to
$1,000 per week ($52,000 annually)

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

AustralianSuper is for all Australians

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.

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Cbus

Cbus is for anyone in construction and building

Cbus is the Industry SuperFund focused on the construction, building and allied industries. Established in 1984, it has 80,000 participating employers.

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HESTA

The industry super fund dedicated to health and community services.

More people in health and community services choose HESTA for their super. Click here to find out why.

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Hostplus

Hostplus is for anyone in hospitality, tourism, recreation and sport

Hostplus is the national superannuation fund for the hospitality, tourism, recreation and sport industries and is one of the largest super funds in Australia.

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MTAA Super

MTAA Super is for anyone in the motor trades

MTAA Super is the Industry SuperFund for those working in the motor trades and is also open to the general public.

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CareSuper

CareSuper is the super fund for professionals

CareSuper has been looking after people from all sorts of professions since 1986 and has over 63,000 participating employers.

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LUCRF Super

LUCRF Super is for hard-working Aussies in any industry

LUCRF Super has looked after members and employers across Australia since 1978.

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NGS Super

NGS Super is for anyone in education and community-focused organisations

NGS Super is dedicated to people working in education and community-focused organisations.

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Media Super

Media Super is for anyone in print, media, entertainment or the arts

Media Super is the Industry SuperFund for people working in print, media, entertainment and art industries and has 13,000 participating employers.

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TWUSUPER

TWUSUPER is for anyone in the transport and logistics industry

TWUSUPER is the Industry SuperFund for people in transport and logistics. Established in 1984, TWUSUPER has over 15,000 participating employers.

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AustSafe Super

AustSafe Super is for anyone working in rural or regional Australia

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.

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Energy Super

Energy Super is for anyone in the electrical and energy industry

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.

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First Super

First Super is the Industry SuperFund for the timber, pulp & paper and furniture & joinery industries

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.

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Maritime Super

Helping you make the most of your super

Maritime Super is the largest industry fund dedicated to the maritime industry. Our goal is to help members make the right decisions now to secure financial freedom in the future.

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legalsuper

legalsuper is for anyone working in the legal community

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.

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REI Super

REI Super is for anyone in residential and commercial real estate

Established in 1975 REI Super is the Industry SuperFund for those working in the Real Estate and Property industries.

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Disclaimer

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.

Assumptions

The "Transition to Retirement" outcome uses an actuary projection and the following assumptions, some of which you can change:

Inflation

Fees

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

Investment returns

Employer

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
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