Retirement Savings Gap Calculator
Compare your projected super balance at retirement with the balance you would need to fund your target retirement income.
Your results
Calculation breakdown
- Balance required
- target annual income ÷ drawdown rate
Worked example
To generate $50,000 a year at a 5% drawdown rate you would need about $1,000,000; a projected $450,000 balance leaves a $550,000 shortfall.
Assumptions
- Ignores the Age Pension, which may reduce the balance actually needed.
- Drawdown rate is a simplification of a more complex retirement income strategy.
How this calculator works
This calculator estimates your projected superannuation balance at retirement and compares it with the lump sum needed to generate your target annual retirement income at a chosen drawdown rate, highlighting any shortfall or surplus.
Frequently asked questions
How is the required balance worked out?
It divides your target annual retirement income by your chosen sustainable drawdown rate, giving a rough lump sum estimate.
What drawdown rate should I use?
Many planners use figures around 4–5% a year as a starting point, but your personal needs, age and life expectancy matter — treat it as a guide only.
Does this include the Age Pension?
No, this compares super alone against your income target; the Age Pension could reduce the super balance you actually need.
Results are estimates only and are not financial, tax, legal or credit advice.