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MyLife MySuper’s Retirement Modeller lets you take a look at your potential financial future. You can check whether your super is on track to provide for your financial needs in retirement and see what strategies may help you achieve your goals.

How to use this tool

First you provide some details about yourself, your income and your current amount of super savings.

The following page will give you two alternative tabs, one showing total income and the other showing total balance.

The total income chart shows retirement income over time including super and the age pension. It allows you to vary certain components to see how they may affect your retirement income.

If you select the Transition to Retirement (TTR) strategy, an optimum TTR arrangement is worked out behind the scenes and incorporated into your scenario. You can contact MyLife MySuper to learn more or to actually put a TTR strategy into place.

The total balance chart shows how your super balance may last through retirement. Please note that these projections do not take into account external variables that can have a detrimental impact on an individual’s superannuation lasting through retirement such as the need to draw down funds for capital expenditure or the timing of a significant downturn in financial markets.

Your super

The modeller is interactive so you can adjust the variables to see what effect things like extra contributions, different investment choices, working part-time or working longer might have. Simply use the sliders to change details and see the effects.

By continuing to the next screen you confirm that you have read the disclaimer and assumptions.

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

Rotate your device to see the graphs

$000,000 Income at 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.


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


Now that you have explored your path to retirement, MyLife MySuper can offer a number of services to help you put this into action.

Financial advice

MyLife MySuper members can access a range of financial advisory services through MyLife MyAdvice. You can arrange to meet with one of our planners for an initial, no obligation chat. Book online here. Not sure if you want to speak to a planner but still have some questions? Speak to our Service Centre on 1300 655 002.

Seminars and workplace visits

We run seminars throughout the year, ranging from general superannuation topics to tailored retirement planning and pension seminars.

We can also arrange a presentation tailored to the needs of the staff at your workplace at a convenient time for you and your employer. If you are interested in this service please contact us.

Compare MyLife MySuper

Compare MyLife MySuper’s benefits and services to other super funds using our online comparators RateMySuper and RateMyPension.

Keep on top of your super

Monitor and manage your account through MyLife Online - our secure internet account facility.

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Disclaimer and Assumptions

This Retirement Modeller is provided by Togethr Trustees Pty Ltd (ABN 64 006 964 049; AFSL 246383), the Trustee of the MyLifeMyMoney Superannuation Fund (ABN 50 237 896 957) (the Fund). The Retirement Modeller provides illustrative calculations based on stated assumptions only and is provided in good faith. It has been based on current laws and their interpretation as at May 2017.

The Retirement Modeller is only intended to be a general illustration of your superannuation needs based on known assumptions and limitations. The information that it provides is not a substitute for professional advice from a qualified financial adviser and should not be relied upon as the sole basis upon which to alter your financial arrangements. We recommend that you seek assistance from a qualified financial adviser before making any changes to your financial affairs.

We do not accept any liability, either direct or indirect, arising from any person relying, either wholly or partially, upon any information provided by, resulting from, shown in, or omitted from, the Retirement Modeller. Under no circumstances will the Fund be liable for any loss or damage caused by a user’s reliance on information obtained using this Retirement Modeller.



Retirement age

You are assumed to retire at the end of the financial year in which you reach your nominated retirement age. The Modeller assumes that you will have reached your preservation age or have met a relevant condition of release as at your nominated retirement date or transition to retirement date. If this is not the case, you will not be able to access your superannuation benefits until after you have reached your preservation age or satisfied a condition of release.

Life expectancy

Life expectancies allow for future mortality improvements. They were derived based on the medium mortality rate assumptions in the Australian Bureau of Statistics in "Population Projections 2006-2011".



Wage inflation of 3.2% pa has been assumed. This rate has also been used when discounting future amounts to current values.

Personal income

Your 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 pro-rata.

Taxes and levies

You are assumed to be an Australian tax resident for taxation purposes. Tax calculations allow for Personal Income Tax rates, the Medicare Levy, the Low Income Tax Offset, Debt Levy and the Senior Australian Tax Offset. Threshold and offset amounts in the first year are based on current legislated rates. Thereafter they are indexed in line with wage inflation. In calculating the Medicare Levy, the individual income thresholds are assumed to apply and the family income thresholds are assumed not to apply. No allowance has been made for the Mature Age Worker Tax Offset.


Employer contributions

You are assumed to receive superannuation guarantee contributions. The assumed rates of contribution are:

Financial yearRate

Superannuation guarantee contributions are subject to the maximum contribution base, which is currently $55,270 per quarter. This threshold is indexed annually in line with wage inflation.

Member contributions

Regular concessional or non-concessional contributions entered by you are assumed to increase in each year in line with your salary. In any periods of part-time work, your contributions are assumed to decrease pro-rata. The amount of a one-off non-concessional contribution entered by you is assumed to be fixed, and is not indexed. The non-concessional contribution limits are indexed in line with the assumed rate of wage inflation. Where a Concessional or Non-concessional contribution exceeds the corresponding legislated contribution limit, the contributions are taxed accordingly. From 01/07/15 concessional contributions are taxed at 15% in the superannuation environment. Concessional contributions in excess of the contribution threshold are subject to additional tax; however this is levied in the income tax environment. Currently the Concessional Contributions limits depend on the individual's age. Concessional contributions are assumed to be subject to tax at 15% in the fund. Contributions are assumed to be spread evenly across the year, and are assumed to continue until the retirement age that you have entered.


In each projection year, your eligibility for a Government co-contribution is assessed based on your salary and any non-concessional contributions. A co-contribution is made to your superannuation account if applicable. You are assumed to have no reportable fringe benefits and assumed to meet the other eligibility criteria.

The co-contribution thresholds and maximum amount are indexed in line with wage inflation.

Investment earnings - superannuation

Based on the investment return selected, your superannuation and pension accounts are assumed to earn anticipated investment returns of between 5.0% and 7.4% per annum before fees and tax. Earnings in the superannuation account are assumed to be taxed at the relevant rate (based on the percentage of funds invested in shares, and allowing for dividend imputation and the capital gains tax concession). Earnings in the pension account are assumed to be tax-free.

Investment earnings are assumed to be credited continuously to the fund.

Earning ratePercentage in shares
Moderately Conservative5.8%25%
Moderately Aggressive6.9%75%

The earning rates listed above are illustrative only and should not be taken to provide an estimate of the amount of investment earnings you may receive.

Assets outside of super

Assets held outside of super are used to calculate your eligibility to the Age Pension only. You are assumed to retain these investments outside of super and they are not included in the projections of drawing down on your super.

Additional income

Additional income is used to calculate your eligibility to the Age Pension only. The income is indexed in line with wage inflation.

Fees and insurance premiums

Fees and insurance premiums are assumed to be as follows:

Management cost (% of assets)0.18%
Dollar fee (per annum)$93.60
Contribution fee (% of contribution)0.00%
Insurance premiums (per annum)$0.00
Adviser service fee (% of assets)0.00%

Fees are assumed to be tax-deductible in the fund. Contribution fees are deducted at the time of contribution. Other fees and insurance premiums are deducted continuously.

Dollar fees and insurance premiums are assumed to increase in line with the assumed level of general wage inflation. Other fees are assumed to remain constant in percentage terms over the projection period.


Target income

The target income that is shown in the modeller is defaulted to 75% of your current salary (after tax). You can vary this income according to your needs. If you want a guide as to what a comfortable income is, please refer to the Westpac ASFA Retirement Standard on our website.

Government Age Pension

Current Age pension thresholds and rates of payment are allowed for, based on the Single/Couple and Homeowner status of the user. Thresholds and rates of payment are indexed in line with CPI.

The age pension is subject to an asset test and an income test.

The asset test is based on the accrued balance of superannuation assets and other assets.

The age pension income test is based on deemed, rather than actual, income on superannuation and other assets.

The projection assumes that in retirement, funds are placed in an account-based pension and the income and assets test are calculated according to current rules.

Transition to retirement

The transition to retirement optimisation assumes that you continue working at the same rate, make additional salary sacrifice contributions, and draw a pension such that your net income remains constant. It calculates the contribution and drawing level which maximises the benefit within the superannuation environment.


The drawings from superannuation in retirement are calculated as required income less other income (as entered by you) less any age pension amounts (as calculated by the Modeller).

Minimum drawings

There are statutory minimum superannuation drawings in both the TTR phase and in retirement (once funds have been converted to the pension phase). For the purpose of this projection, this minimum is effectively ignored in the TTR phase, on the basis that any excess drawings could be re-contributed as non-concessional contributions. Minimum drawing requirements are also ignored in the retirement phase. Though the funds would have to be withdrawn from superannuation, if they were not required to be spent to meet your target income, they would still be available, say in a bank account. Seen from the perspective of retirement funding, and without including an account external to superannuation, it seems better then to ignore the minimum drawing levels.

Edit assumptions


Edit user defined investment option

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