Australian Retirement & Pension Estimator
Use this aus pension calculator to estimate your super at retirement, potential Age Pension, and total retirement income.
Figures are estimates only and simplified. Actual Age Pension eligibility depends on both income and assets tests, deeming, and policy changes.
How this aus pension calculator helps
Planning retirement in Australia usually means combining your super balance, private savings, and possibly the Age Pension. This aus pension calculator gives you a practical first estimate of what your retirement income could look like.
It is designed to answer three key questions quickly:
- How much super could I have by retirement?
- How much yearly income could I draw from that balance?
- Could the Age Pension add to my retirement income?
What the calculator includes
1) Super growth phase
The calculator projects your current super using monthly contributions and an annual pre-retirement return assumption. This reflects long-term compounding over your working years.
2) Retirement drawdown phase
At retirement, the tool estimates sustainable annual withdrawals over your chosen retirement length using your post-retirement return assumption.
3) Age Pension estimate (simplified assets test)
The calculator also estimates Age Pension under a simplified assets-test model. It uses relationship status (single/couple) and homeowner status to estimate full or part pension eligibility.
How to use it well
- Be realistic with returns: many people overestimate investment returns. Try optimistic and conservative scenarios.
- Update contributions: include employer SG, salary sacrifice, and personal contributions where relevant.
- Stress test inflation: 2.5% is common for planning, but test higher values too.
- Run multiple retirement ages: even 2–3 extra working years can make a major difference.
Example scenario
Suppose you are 35, retire at 67, have $120,000 in super, contribute $1,200 per month, and earn 6.5% pre-retirement. Your projected retirement assets can be significantly larger due to compounding. The calculator then estimates annual income from those assets, adds a simplified Age Pension estimate, and compares total income to your target.
If there is a shortfall, you can test strategies such as:
- Increasing monthly contributions
- Delaying retirement age
- Reducing desired retirement spending
- Building non-super assets and reducing debt before retirement
Important planning notes for Australians
Super is usually the core engine
For most households, superannuation is the largest retirement asset outside the family home. Small contribution increases over long periods can have large effects.
Age Pension rules can change
Means test thresholds, taper rates, and policy settings may be updated. Use this tool for directional planning, then verify with current Services Australia rules.
Income test is not fully modelled here
This calculator applies a simplified assets-test estimate only. Actual Age Pension entitlements depend on whichever test (income or assets) results in a lower pension.
Common mistakes this calculator can help you avoid
- Assuming your current super balance is “enough” without modelling inflation.
- Not accounting for retirement lasting 25+ years.
- Ignoring how contributions today affect outcomes decades later.
- Relying only on Age Pension without checking likely entitlement levels.
Final thoughts
This aus pension calculator is best used as a planning dashboard, not a guarantee. It helps you see trade-offs and make better decisions early. Revisit your numbers every year, especially after salary changes, market shifts, or major life events.
General information only: this page is not personal financial advice. For tailored guidance, speak with a licensed Australian financial adviser.