Super Calculator Australia
🏦Estimate your retirement savings & discover how to grow your superannuation faster
Your Super Projection
💡 Super Boost Tip
Increasing your contributions by just 1% could add $0 to your retirement balance!
💰 Understanding Your Superannuation
Superannuation is Australia’s system for helping you save for retirement. Your employer contributes a percentage of your salary (currently 11%) into a super fund, which is invested to grow over time until you retire.
How Superannuation Works in Australia
- Employer Contributions: Your employer must pay 11% of your ordinary earnings into your super fund (as of 2023).
- Investment Growth: Your super money is invested in assets like shares, property, and bonds.
- Tax Benefits: Super contributions and earnings are taxed at lower rates than normal income.
- Preservation Age: You generally can’t access your super until you reach preservation age (between 55-60).
⚠️ Important Note
This calculator provides estimates only. Actual results will depend on investment returns, fees, contribution changes, and government policy. Consider consulting a financial advisor for personal advice.
🔍 Compare Super Funds
Not all super funds perform equally. Compare fees, performance, and insurance options to ensure you’re with the right fund for your needs.
💸 Salary Sacrifice
Consider making extra contributions through salary sacrifice. These come from pre-tax income and can reduce your taxable income while boosting your super.
🏡 First Home Super Saver
First home buyers can withdraw voluntary contributions (plus earnings) to help with a deposit, with potential tax benefits.
📈 Strategies to Grow Your Super
1. Consolidate Multiple Accounts
Having multiple super accounts means paying multiple sets of fees. Consider consolidating to save on fees and simplify management.
2. Make Additional Contributions
Even small additional contributions can make a big difference over time due to compound growth.
3. Review Your Investment Option
Growth options may have higher short-term volatility but typically provide better long-term returns for younger investors.
4. Check Your Insurance
Many super funds include life, TPD, and income protection insurance. Ensure you have appropriate coverage.
❓ Superannuation FAQs
As of 2023, the superannuation guarantee rate is 11% of your ordinary earnings. This is scheduled to increase to 12% by 2025.
Your preservation age depends on when you were born. For those born after 1964, it’s age 60. You can also access super if you retire after reaching preservation age, or under other special circumstances.
Employer contributions are taxed at 15%. Investment earnings are taxed at up to 15%. When you withdraw super after age 60, it’s generally tax-free.
Your super stays in your account. Your new employer will contribute to your chosen fund, or to their default fund if you don’t choose one.
Ready to Take Control of Your Retirement?
Use our calculator to explore different scenarios and see how small changes today can make a big difference to your financial future.
Calculate My Super Now🔗 Useful Resources
Explore these helpful tools and information to better manage your superannuation:
Internal Tools
- Pregnancy Tracker – Plan for parental leave and its impact on your super
- Affirmation Cards – Stay motivated with your financial goals
- Switch Words Generator – Positive mindset tools for financial success
- Switch Words for Money – Abundance mindset techniques
- Pension Calculator – Estimate your age pension eligibility
- Lucky Number Calculator – Fun numerology tool
External Resources
- MoneySmart Super Calculator – ASIC’s official superannuation calculator
- ATO Superannuation – Official tax office super information
- SuperRatings – Compare super fund performance
