Retirement income calculator
Find out if the Government Age Pension plus your super will give you enough income in retirement.Let’s start
Here’s a guide. Because everyone has different needs, it’s important to consider your own situation.
You may be able to arrange for your employer to make super payments directly from your salary.
Make personal contributions to your super account with after-tax payments.
If you’ve made a personal contribution, you may be eligible for an extra top up from the Government.
Members of the Cbus Super Income Stream may be entitled to the Age Pension (social security benefits) in addition to the Cbus Super Income Stream.
You may also be eligible for:
On the day you submit your claim, you must be an Australian resident and have lived in Australia long enough to satisfy qualifying residence periods.
The qualifying age is currently 65. From 1 July 2017, the qualifying age will increase from 65 years, to 65 years and six months. The qualifying age will then increase by six months every two years until it reaches 67 by 1 July 2023.
These tests consider areas such as the level of assets you have, where you invest those assets, the income your assets are deemed to earn and any other income you receive, such as wages, income from a super income stream or overseas pensions.
Centrelink will assess your eligibility and entitlements will be assessed based on your personal needs and circumstances. You can call Centrelink on 132 300.
The information relating to the rates, thresholds and government rules in the video is correct as at 1 May 2015. Before making any decisions based on these video and for up to date information please contact us on 1300 361 784.
Jeff is an employee of Cbus and a Representative of United Super Pty Ltd ABN 46 006 261 623 AFSL 233792.
If you would like to arrange a meeting with a financial planner for more comprehensive personal financial advice, the Cbus Advice Team can refer you to an accredited CERTIFIED FINANCIAL PLANNER® (CFP) who meets strict professional qualification and service criteria set by Cbus and the Financial Planning Association (FPA) of Australia.
The financial planner can offer you advice on a fee-for-service basis. Your first meeting is at no cost, and any fees for advice will be agreed with you in advance. You may be eligible to have the financial planner payment fees deducted directly from your Cbus account.
Contact the Cbus Advice Team on 1300 361 784 to get started.