Our Lifetime Income Calculator can illustrate three sources of income in retirement: a Government Age Pension, an Account-Based Pension and a Lifetime Pension. It can also provide you with a guide to the longevity of your retirement savings using information you provide about yourself and your spouse (if applicable) and the income you think you will need to support the lifestyle you want in retirement.
- The Lifetime Income Calculator allows you to explore ‘income layering’ - how you can allocate your existing super balance between a Lifetime Pension and an Account-Based Pension.
- The calculator will provide you with an illustration of the likely effect on your retirement income of purchasing a lifetime pension product.
- The calculator also allows you to explore receipt of a Government Age Pension in retirement based on the Income Test and Assets Test and it allows you to alter the settings to explore Government Age Pension scenarios with various asset and income positions.
- You can explore your retirement income requirements from both standard living expenses to one-off expenditures and lifestyle goals.
- It shows the probability of achieving your stated retirement income goals to give you an indication of how likely (based on your account information, inputs and a fixed set of assumptions) the projected outcome will occur as well as the projected sources of income in retirement.