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.
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
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
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 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
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
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Media Super is for anyone in print, media, entertainment or the arts
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Energy Super is for anyone in the electrical and energy industry
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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