Transition to Retirement Calculator

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Transition to Retirement Calculator

Mercy Super's transition to retirement calculator illustrates the effect of a Transition to Retirement (TTR) strategy on your superannuation balance at retirement.

This calculator requires you to enter information about yourself and will then use this information to produce your results. Results are presented in today's dollars.

Please note that the income tax rates used in this calculator do not include the flood levy nor the carbon tax.

Details

Age group
Gross income per annum
Salary sacrifice amount per annum
Income stream payment per annum
Current balance of superannuation account
Income stream opening balance

Edit Print

Step 1 - Age Group

Select your age group

55 to under 60 60 and over

Your Projected Outcome

Example 1 - Gross income only (no salary sacrifice)

Salary	$
Tax	$

Net:

$ p/annum

$ p/month

$ p/week

- Collapse + Expand

This example shows your take home pay prior to any salary sacrifice arrangement

Example 2 - With salary sacrifice

Salary	$
Salary sacrifice	$
Taxable income	$
Tax	$

Net:

$ p/annum

$ p/month

$ p/week

- Collapse + Expand

In this example your net income is reduced based on the amount you have chosen to salary sacrifice into super.This may not leave you with sufficent income to meet your day to day expenses.

Example 3 - Salary sacrifice into super - with income stream

Salary	$
Salary sacrifice	$
Income stream payment	$
Taxable income	$
Tax	$
Net	$
Plus tax free income stream payment	$
15% tax offset on income stream payment	$

Net:

$ p/annum

$ p/month

$ p/week

- Collapse + Expand

To obtain your desired net income simply alter the amount you salary sacrifice into super and the amount you wish to draw from a pre-retirement income stream account.

Your Results

What difference does it make?	Without TTR strategy	With TTR strategy	A difference of
Your account balance at the end of 5 years	$	$	$

Assumptions

Employer contribution of 9% per annum based on gross income prior to salary sacrifice
Investment earnings not taken into account
Fees not taken into account
Insurance Premium (if any) not taken into account

This calculator generates factual information illustrating the effect of different strategies in respect of salary sacrifice contributions and effecting a Transition to Retirement Income Stream. It is only applicable to people who have attained their preservation age (currently age 55). This calculator is intended for educational and information purposes only and does not constitute a recommendation or statement of opinion about superannuation contributions nor the level of pension. Mercy Super cannot guarantee the suitability of these projections or assumptions to your financial circumstances. You may wish to seek the advice of a qualified and independent financial adviser to help you with your decision making.

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