A superannuation calculator is an online tool that helps you estimate how much superannuation (retirement savings) you will have at retirement based on your current balance, contributions, fees, investment returns, and other assumptions. It can also show you how fees and different contribution levels affect your final super balance. These calculators typically let you adjust assumptions like inflation, salary sacrifice, investment options, and fees to see how they impact your future superannuation balance. Some examples of superannuation calculators include:
- The MoneySmart superannuation calculator, which estimates your super balance at retirement and shows fees impact, using recent actuarial statistics and adjusting results for inflation.
- AustralianSuper's Super Projection Calculator for estimating retirement money, super longevity, and the effect of extra contributions.
- Queensland Government's Super Projection Calculator that factors in income needs, insurance premiums, Age Pension, and drawdown strategy.
- Various calculators from super funds like Hostplus, Australian Retirement Trust, REST Super, Cbus Super, Aware Super, and NGSSuper.
These super calculators can aid retirement planning by allowing you to input your details and assumptions to get a personalized estimate of your retirement savings outlook. Results should be treated as estimates, not predictions, as actual outcomes depend on many personal and economic factors.
If you want, guidance to a specific calculator or help interpreting results can also be provided.