ClearView Retirement Solutions: Will superannuation fund your retirement?

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Will superannuation fund your retirement?

Important information about this calculator.

This calculator allows you to estimate what your superannuation lump sum amount will be at retirement and how long it will last in retirement based on a number of assumptions.

It allows you to adjust the level of income required, investment return and inflation rate to see what impact these variables have.

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Assumptions
1.	Salary is salary for superannuation purposes.
2.	Contributions increase each year with inflation at a default rate of 2.5% pa. This rate is the mid-point of the RBA target range for inflation.
3.	Retirement savings increase each year with an investment rate (net of tax) at a default rate of 5.75% pa (ie. 3.25% pa above assumed inflation). The default rate of 5.75% p.a. is equivalent to the current cash target of the RBA. You may change the default rate.
4.	Employer contributions are not less than the minimum amount (9% of salary) entitled to under Superannuation Guarantee Legislation and has not been limited to the maximum SG contribution base of $140,960 pa for 2006/07.
5.	No consideration has been given to your eligibility for the Pensioner Tax Offset, Senior Australian Tax Offset or Low Income Tax Offset.
6.	No consideration has been given to the age based limits for deductibility of superannuation contributions.
7.	Contribution tax of 15% is applied to all employer and salary sacrifice contributions.
8.	The 'Target benefit' is determined by the amount entered in required income in retirement.
9.	No allowance has been made for tax on lump sum payments from the superannuation and retirement benefits.
10.	Government co-contribution rate is effective from 1 July 2005. This has been based on the Salary and post tax contributions entered.
11.	The Government co-contribution for the after tax contributions made during the relevant year is paid at the end of that year.
12.	The calculated life expectancy is based on Australian Life Tables for year 2000-02.
13.	The calculation caters only for employees of accumulation style funds. No allowance has been made for the self employed or for members of defined benefit funds.
14.	Salary increases at 1 July each year.
15.	Contributions are received at regular intervals for each year of the projection.
16.	Retirement Income is paid at regular intervals for each year of the projection.
17.	Interest is calculated daily and compounded yearly at 1 July each year of the projection, net of any tax.
18.	The date set on your computer is correct. Projections are started from this date.
19.	Total superannuation benefits are assumed to be paid as a lump sum, and not in excess of Reasonable Benefit Limits.
20.	The results displayed by this calculator are in today's dollars not in future dollars.
If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts.
Disclaimer
1.	This "Will superannuation fund your retirement?" calculator is based on our interpretation of tax laws as at 1 July 2006.
2.	This "Will superannuation fund your retirement?" calculator does not replace personal financial product advice and you should seek specific professional advice prior to acting on any information.
3.	ClearView gives no assurance that this "Will superannuation fund your retirement?" calculator is free of errors or suitable for any user's intended purposes.
4.	To the extent permitted by law, ClearView will not be liable for any damages or loss suffered by the user or anyone else from use of this "Will superannuation fund your retirement?" calculator.
5.	Any advice in this "Will superannuation fund your retirement?" calculator is general advice only and does not take into account your individual objectives, financial situation or needs ("personal circumstances"). Before acting on it you should consider the appropriateness of it, taking into account your personal circumstances. ClearView Financial Advisers are representatives of ClearView Financial Management Limited.

Any advice in this material is general advice only and does not take into account your individual objectives, financial situation or needs. Before acting on it you should consider the appropriateness of it, taking into account your personal circumstances. ClearView Financial Advisers are representatives of ClearView Financial Management Limited.