How much will you have in retirement and how long will it last?

This super and retirement income calculator is designed to help you answer these questions. It will give you an idea of how much retirement income you can expect based on your current situation and how long it might last.

You can see the difference small adjustments might make on your balance at retirement - including adjusting your retirement date, making extra contributions, changing your investment mix or reducing your working hours.

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$000,000 Income in retirement
$000,000 Projected balance at retirement
00 Run out age

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$000,000 Income in retirement
$000,000 Projected balance at retirement
00 Run out age
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If your super pension payment is less than the minimum allowed, we have assumed excess drawdown will be invested in super.
The after-tax contributions you've entered would result in you exceeding your after-tax contributions cap. The calculator has capped contribution amounts keep you within these limits.


Please tell us about any additional contributions you make. The sliders are limited by your maximum available contribution.


Investment mix

See how your investment choice can affect your retirement income.

Part time work

Are you planning to work part time


Transition to retirement

A transition to retirement strategy allows you to draw money from your super while you continue to work. You can top up your super by contributing some or all of your salary providing a tax-effective way of saving for retirement. We'll do these calculations for you to give you an idea of how much you could save.


Age pension

Help us calculate your age pension eligibility. Your age pension payments are automatically included in your retirement income



Would you like to include or exclude your partner?

Your partner's details

Remove partner

Your partner contributes


So how is your retirement looking?

No matter where you’re at, how far or near retirement is for you, it’s important to stay in touch with your super and take those small incremental steps that can make a big difference over time.

Here are some tips to get you started:

  • Add a little bit extra to your super – even small extra amounts can make a big difference to your lifestyle in retirement. Find out more

  • Combine your super – your super works harder for you when it’s all together. Find out more

  • Get in touch. Whatever the question, we’re here to help. Jump on the phone and call us on 1300 368 891, send an email to or drop in and see us if you happen to be near Mater’s South Brisbane campus. Helping you is the sole reason we exist – so put us to the test.

Disclaimer and assumptions

This calculator is provided by the Mercy Super Pty Ltd ABN 98 056 047 324 AFSL 418976 Trustee of Mercy Super ABN 11 789 425 178.

The purpose of this calculator is to show illustrative projections which provide examples of how much super you could accumulate at your chosen retirement age and how long it may last in retirement. The calculator has not taken into account your lifestyle expenses and other commitments like a mortgage or personal loans.

The information is general only and does not take into account your personal objectives, situation or needs. The results are not a representation of actual entitlements or benefits from any particular superannuation product and are not intended to be relied on for the purposes of making a decision in relation to a financial product. Before making any financial decisions consider your own financial circumstances, needs and objectives and consider getting professional financial advice.

The calculator relies upon assumptions that if varied could change the result. The projections assume an investment in a superannuation account in accumulation and retirement phases, as well as a Government Age Pension in the retirement phase. You can choose to exclude the Government Age Pension from the projection or include other regular income in retirement. Other important assumptions are listed below and are based on current laws and their interpretation as at 1 July 2022.

Investment returns

Assumed investment returns are used in the calculator based on the investment profile/option you select, which can be varied. Assumed investment returns are shown below after investment fees and taxes and are assumed to be credited continuously.

Investment mixAccumulation return (p.a.)Retirement return (p.a.)
Conservative Balanced4.50%5.11%
Capital Stable3.20%3.60%

Please remember that investment returns will fluctuate, are not guaranteed and may even be negative.

The above assumptions can be edited to create a 'user defined' investment setting. You can alter the inflation rate and the assumed retirement investment return within certain ranges. The user defined accumulation investment return will be automatically calculated to take into account tax and a higher pre-retirement risk. Before making decisions, you should also consider the risk profile of different investment strategies.

Administration fees and insurance premiums

Fees and insurance premiums are assumed to be as follows:

Administration fee0.25% p.a. (of your account balance) subject to a cap of $600 p.a.
Insurance premiums$1,000 p.a.

Fees are assumed to be tax-deductible in the fund. Insurance premiums are deducted continuously. Insurance premiums are assumed to increase in line with wage inflation. Percentage fee rates are assumed to remain constant over the projection period. You can alter the default fees across the combined accumulation and retirement phases within certain ranges. All fees and costs included in the table above are deducted from your account balance. However, investment fees and taxes are deducted before the assumed investment returns are credited to your account.

Personal income

Salary is assumed to increase in line with wage inflation. In any future periods where you have a period of part-time employment, your salary is reduced on a pro-rata basis. Tax calculations allow for individual income tax rates, the Medicare Levy, the Low Income Tax Offset, Low and Middle Income Tax Offset and the Senior and Pensioners Tax Offset. It does not take into account the Medicare surcharge or any HECS/HELP debt. Threshold and offset amounts in the first year are based on current rates. Thereafter they are indexed in line with wage inflation.

Employer contributions

Employer contributions are calculated as a percentage of salary and is defaulted to the Superannuation Guarantee (SG) rates.

If you receive a different amount, you can alter the rate of employer contributions within certain ranges. If you adjust the rate higher than 12%, it will be assumed to remain constant throughout the pre-retirement phase and the minimum SG rates will be ignored.

Member contributions

Regular concessional (before-tax) or non-concessional (after tax) contributions entered by you are assumed to increase in each year in line with your salary. In any periods of part-time work, these contributions are assumed to decrease pro-rata. Regular contributions are assumed to be spread evenly across the year.

The amount of a one-off, non-concessional contribution you enter is assumed to be fixed, and is not indexed.

Concessional contributions up to the concessional contributions cap are generally taxed at 15% on contribution to the superannuation environment. Non-concessional contributions up to the non-concessional contributions cap are not subject to tax on contribution to the superannuation environment. Where a concessional or non-concessional contribution exceeds the corresponding legislated contribution limit, the contributions are subject to additional tax which is assumed to be levied in the personal income tax environment.

For the 2022-2023 financial year the annual general concessional cap is $27,500.

To the extent that the combined amount of income and concessional contributions for a particular financial year exceeds $250,000, concessional contributions are assumed to be subject to tax at 30% on contribution to the superannuation environment.

For the 2022-2023 financial year the non-concessional cap is 4 times the general concessional cap, being $110,000. This can be increased by up to $330,000 under the 'bring-forward' rules. The additional amount which can be contributed depends on account balance and age:

If your account balance is under $1.48m you can 'bring-forward' the current and the next two years of contributions, and so can contribute $330,000.

If your account balance is between $1.48m and $1.59m you can 'bring-forward' the current and the following year of contributions, and so can contribute $220,000.

If your account balance is between $1.59m and $1.7m, you cannot bring forward any future year’s contributions, and the non-concessional contribution cap is equal to the annual cap of $110,000.

If an account balance is over $1.7m (or if an individual is aged 75 years old or older) individual’s non-concessional contributions cap is $0.

The non-concessional cap under these 'bring-forward' arrangements also represents the total amount of eligible non-concessional contributions within the bring-forward period. However, it does not take into account any non-concessional contributions made in previous financial years.

The calculator enables you to enter both regular annual non-concessional contributions and a one-off lump sum non-concessional contribution. If in any year the combination of these would exceed the relevant non-concessional contribution cap, the calculator will limit the contributions to the cap amount; if this occurs you will receive a message.

The concessional and non-concessional contribution limits are indexed in line with wage inflation.


In each projection year, eligibility for a Government co-contribution is assessed based on salary (the calculator does not take into account any reportable fringe benefits that may affect eligibility for a co-contribution) and non-concessional contributions. A co-contribution of up to $500 is made to the superannuation account if you make non-concessional contributions and your salary is below the lower income threshold. The co-contribution amount is pro-rated if your salary is between the lower income threshold and the upper income threshold.

The co-contribution income thresholds are indexed in accordance with wage inflation. For the current co-contribution income thresholds, visit the Australian Tax Office (ATO) at

Life expectancy

Life expectancies allow for future mortality improvements. They were derived based on the median  mortality rate assumptions in the Australian Bureau of Statistics in 'Population Projections, Australia, 2006 to 2101'.

Government Age Pension

Current Government Age Pension thresholds and rates of payment are allowed for, based on the Single/Couple and Homeowner status. If 'Couple' is selected, your partner’s superannuation assets can be entered and all other income and assets are assumed to be combined between you and your partner. Thresholds are indexed in line with price inflation and rates of payment are indexed in line with wage inflation. It is assumed the qualification requirements for the Government Age Pension under social security legislation are satisfied.

The Government Age Pension is subject to an asset test and an income test. You can enter other investment assets outside super, which is used for the asset and income test only. The projection assumes that in retirement, all assets (superannuation and assets outside superannuation) are placed in an account-based pension. The Government Age Pension income test is therefore calculated on the basis of deemed income on all assets.

You can enter an additional income amount. This amount represents any regular income you receive throughout retirement in addition to drawdowns from superannuation and Government Age Pension, and will be reflected in the projected income. The additional income entered will not be included in the income test for Government Age Pension.

The assets outside super and any additional income entered, are assumed to increase each year in line with wage inflation.

The Department of Human Services rate estimator lets you estimate your payment rate for the Government Age Pension, based on your current or proposed circumstances and assists with working out if you will be eligible for a payment.

We have not considered any other Government benefits apart from the Government Age Pension. Contact Centrelink to confirm your eligibility for the Government Age Pension as the projections are examples only and have not considered your personal situation.

Transfer balance cap

The transfer balance cap restricts the amount that can be transferred into an account-based pension. At 1 July 2021 the cap is $1.7m and will increase in $100,000 increments in line with wage inflation. Based on current indexing, adjustments will occur every three to four years. If at the time of retirement, the projected account balance exceeds the (indexed) transfer balance cap, the maximum possible amount is assumed to be transferred into an account-based pension and any excess balance retained in an accumulation account.

Minimum income payment in retirement

The Government sets the statutory minimum amount that must be paid as an income each year during retirement, once funds have been converted to an account-based pension. The calculator doesn’t account for the statutory minimum income payment amount. If the income payment in the calculator is less than the statutory minimum your account balance during retirement may be exhausted sooner than shown in the calculator.

Target income

The target income defaults to 70% of your annual after-tax income. This can be changed within certain ranges.

To achieve the target income, the amount drawn from superannuation in retirement is calculated as:

Target income (which can be specified) less other income (which can be specified) less any Government Age Pension amounts (as calculated by the calculator).

Where the transfer balance cap is exceeded at the time of retirement, the excess will be invested in an accumulation account and will result in both an accumulation account and a pension account. In the scenario where the target income is in excess of the statutory minimum drawdown for the pension, the income will first be drawn from the pension account up to minimum amount and the excess income required to attain the target income will be drawn from the accumulation account.

Last updated: 01/07/2022

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