＋ Average yearly retirement income
Super, pension and other incomeIncorporate changes in circumstances
Live retirement snapshot
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LIVE · YOUR RETIREMENT
Your retirement outlook
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Estimated funding until—
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Estimated results
− Average yearly retirement expenses
Excludes one-off life events◷ Estimated funding to age
Where your retirement payouts come from
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Retirement beginsIllustrative forecast, not a promise
Chart disclosures and further clarifications
- Blank dollar fields count as $0. Grey examples are not used. Age Pension estimates can still appear when switched on.
- Default: all results show what the money could buy at today’s prices.
- Example: at 2.5% inflation, about $128 in 10 years buys what $100 buys today. Switch to future dollar amounts to include those price rises. This changes the display, not your plan.
- Age Pension uses your inflation assumption for estimated increases on 20 March and 20 September, with income, asset and deeming free areas adjusted on 1 July. Energy Supplement stays fixed. This is a CPI-only forecast, not announced future rates; pensioner living-cost and wage benchmarks are not forecast. Age 67 and residence rules apply to each person.
- Money in includes super withdrawals, Age Pension, rent, dividends, interest, retirement work and other income. Savings drawdowns are shown separately because they use existing capital. Expenses are below zero; the line shows money in minus planned expenses before savings drawdowns. Super withdrawals include your own capital, not just investment earnings. Educational estimates only — see the disclosure above.
- Little spare income in some years: the margin is 5% of living costs or less. Withdraw-to-spend plans often sit at zero by design. This is a budget warning, not a probability of hardship.
∑ Retirement totals
Combined income
Government Age Pension
A closer look at your payouts
Choose any age to see that year's cash flow.
Year-by-year projection View all years
Unspent pension saved is part of savings, not extra income. Total expenses include lifestyle, medical, other costs and unsaved pension assumed spent. Life Event Impact combines money received minus event costs, transfers and medical episodes for that age. Medical episodes are also included in Expenses Medical; do not add them twice. Expand an event total for details. Non-cash title transfers can show $0 cash impact but still affect assets and future pension tests.
| Age at start | Opening super | Net contributions | Super payout | Age Pension | Unspent pension saved | Other income | Total money in | Expenses Lifestyle | Expenses Medical | Expenses Other | Unsaved pension assumed spent | Total expenses | Life Event Impact | Net before savings | Spending gap | Closing super | Closing savings |
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Calculation sources, rules and references
Disclosure & User’s responsibility
Education only — not financial adviceRetirement Maths is an independent passion project created by an individual who’s clueless about retirement but wanted to do something about it to at least find out more information. This calculator was created to help get the conversation started about retirement. It provides general educational estimates, not financial, investment, tax or legal advice. It does not consider your complete circumstances or recommend any product or action.
The future is hard to predict. This free tool is not a crystal ball and must not be treated as one. Rules, rates and circumstances can change. There is NO guarantee of the accuracy, completeness, currency or availability of the information and calculations on this site. Results are illustrative and are not promises of returns, payments or eligibility. Verify current rules with official sources and seek qualified advice before acting.
The publisher will not accept any liability for loss or damage arising from use of, or reliance on, this site. THIS SITE IS NOT TO BE RELIED ON FOR YOUR ACTUAL RETIREMENT OR ANY SORT OF FINANCIAL PLANNING.
Nothing in this disclosure overrides rights or liabilities that cannot lawfully be excluded.
This is a statically hosted passion project to help people, not collect their financial information. Calculator entries are processed in your browser and are not submitted to the publisher. Cloudflare Web Analytics separately measures page visits and performance; donation and social websites have their own privacy policies.
Source dates & last site review
Pension rates, means tests and deeming reviewed: 21 September 2026. Other calculation sources retain the review dates listed below.
The planning-age limit is 122 whole years, based on the verified longevity record of 122 years and 164 days. This is not a life-expectancy estimate. Guinness World Records · Verified longevity record
RBA outlook published: 11 August 2026. ASFA spending and health benchmarks: June quarter 2026, reviewed 16 September 2026. DSS lifetime income stream guide released: 11 August 2026. These additional sources were checked on 14–15 September 2026. Other sources: publication date not recorded here; check the linked page.
We cannot guarantee that this site stays current with these sources, new sources or every change affecting retirement calculations. Check official information before making decisions.
Rule snapshot checked 14 September 2026. This calculator models core rules, not every Australian superannuation or pension arrangement. It does not automatically scan for law changes.
Contributions & tax
Working-partner salary tax: ATO Australian resident rates for 2026–27, checked 21 September 2026. Fixed nominal thresholds throughout the forecast, plus a flat 2% Medicare levy without concessions. Personal circumstances and future changes are excluded.
ATO · Resident income tax rates2026–27: 12% employer super, with a $270,830 annual earnings base limit; $32,500 concessional and $130,000 non-concessional annual caps. Concessional contributions are taxed at 15%. A simplified Division 293 calculation uses salary plus employer super against $250,000.
ATO · Contribution caps ↗ATO · Super guarantee ↗ATO · Division 293 ↗Access & pension withdrawals
Models retirement from age 60 with a condition of release met, or unrestricted access at 65. Minimum account-based pension withdrawals: 4% under 65; 5% at 65–74; 6% at 75–79; 7% at 80–84; 9% at 85–89; 11% at 90–94; 14% at 95+. Surplus withdrawals remain in cash savings.
Moneysmart · Accessing super ↗ATO · Pension withdrawals ↗ATO · Transfer balance cap ↗Estimated Age Pension
From age 67, the lower result of the income and assets tests is used. Single rate: $1,237.70/fortnight; assets free area $333,000 homeowner or $600,000 non-homeowner; income free area $226/fortnight. Deeming: 1.75% on the first $66,800, then 3.75%. Couple combined assets free area: $499,000 homeowner or $766,000 non-homeowner. Each eligible partner: up to $933/fortnight; combined income free area $396/fortnight; deeming threshold $110,600. Pension rules checked 21 September 2026.
Services Australia · Payment rates ↗Assets test ↗Income test ↗Deeming ↗Projection periods start on 22 September 2026. Each age row covers the following 12 months; exact birthdays and fortnightly payment dates are not modelled. Annual pension totals retain the calculator’s 26-fortnight convention.
Future pension basic rates and Pension Supplement use the selected annual inflation rate, compounded as a half-year factor at each March/September review. Income, asset and deeming free areas use a full-year factor each July. Energy Supplement and deeming interest rates stay fixed. Statutory rounding, CPI publication lags, pensioner living-cost index (PBLCI) and wage benchmarking (MTAWE) are not forecast. Actual basic rates use the higher of CPI and PBLCI, with a wage benchmark, so results may differ.
Indexation rules checked: 22 September 2026. Published pension snapshot: 20 September 2026; free-area snapshot: 1 July 2026.
DSS · Pension indexationDSS · Income free-area indexationDSS · Asset free-area indexationDSS · Deeming thresholdsDSS · Energy SupplementThe chart shows estimated Age Pension after income and asset tests, not the maximum pension. Saving unspent pension can reduce later entitlement. By default, Assume spend only adds surplus income up to the pension amount to expenses instead of savings. Other surplus is still saved. Future March/September indexation uses your inflation assumption as a CPI-only proxy; actual CPI, pensioner living costs, wages, government rates and thresholds will differ. Energy Supplement stays fixed in this model. CPI-indexed maximum components should remain broadly stable in today’s dollars; changes in means-tested payments are a different effect.
How the projection works & what is outside its scope
Each row is one full year from your current age, not a partial financial year. Contributions and withdrawals are applied at year end; returns apply to opening balances. Investment returns entered are nominal, after investment tax and investment costs but before the separate administration fees and insurance entered here. Today's dollars remove your selected inflation rate.
Added asset values and rent rise with the selected inflation assumption until sold or transferred; car depreciation and property price forecasts are not automatic. Enter your expected market value and sale price for each event. Giving away a main-home title assumes you no longer own that home; retained life interests and granny-flat arrangements need individual assessment.
Salary and voluntary contributions rise with salary growth. Spending, fixed fees, insurance, other income and other non-financial assets rise with inflation. Contribution caps rise with inflation for illustration, not as a prediction of statutory indexation. Income categories start at retirement and rise with inflation. Cash has no automatic return; enter interest separately if required. Entered dividends and interest do not automatically decline when savings are spent, so adjust assumptions if that matters. Age Pension is reassessed at each indexation date using the same annual opening balances and income, then weighted by days into the annual result. It is shown before personal income tax.
At retirement the model transfers up to an assumed unused $2.1m general transfer balance cap into a pension account (held fixed in nominal dollars); excess stays in accumulation with the accumulation return. Your personal cap can differ. Minimum withdrawals apply only to the pension account, and additional spending draws on accumulation then cash. Caps limit modelled contributions: excess amounts are excluded and flagged, not assessed for excess contribution tax.
Not modelled: defined benefit and untaxed funds, transition-to-retirement pensions, unused cap carry-forward, bring-forward arrangements, downsizer contributions, co-contributions, LISTO, spouse offsets, work tests for tax deductions, Work Bonus, Rent Assistance, overseas and residence exceptions, automatic tax on property or gifts, mortgage interest schedules, aged care, personal income tax beyond the simplified working-partner salary estimate, Division 296/high-balance tax, and market volatility or sequence-of-returns risk. Prior-year total super balance is approximated from the opening annual balance when restricting after-tax contributions. Do not use for high-balance tax planning.
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