General assumptions and limitations

  • The Retirement Adequacy Planning Tool (Accumulation) or ‘RAPTA’ for short, is a tool that is designed to help you understand how changes to your income, contributions rate, investment performance, annual pension and other factors can affect your retirement balance.
  • The projections are a general illustration of an accumulation account at the nominated retirement age. This projection is not suitable for members of defined benefit funds and self-managed super funds.
  • CPI has been based on historical and expected future rates and is the mid-point of the RBA target range for inflation.The CPI rate may differ from the assumption made in this tool. The Rate of Return is based on the financial advice risk profiles used, which may consist of one or more investment options.
  • Rate of Return is net of all Fees excluding Fixed Administration Fee and Gross of Taxes.
  • No allowance has been made for taxes (including tax on retirement income) with the exception of tax within the superannuation fund on earnings and contributions. If any other taxes apply, the calculator's results may be incorrect and may not apply to you.
  • It is assumed that your employer continuously contributes an amount equal to 9.5% of your ordinary time earnings unless otherwise indicated by you.
  • Exceeding annual contribution limits may result in a financial penalty. If it is likely that these limits will be exceeded, we recommend you seek financial advice.
  • Government co-contributions and Spousal contributions are not considered.
  • The projection starts from the date it is used, and all the user’s information is assumed to be correct and as at this date.
  • You are fully retired at the nominated retirement age. There is no allowance for transitioning to retirement.
  • The tool calculates projections on a rolling 12 month basis, not by calendar year or financial year. The calculations take the user’s current age into account and project the retirement balance to age 67. We assume your account balance will receive all income and outgoings mid-year, apart from Government co-contributions which we assume are received at the end of the year.
  • No allowance has been made for changes in regular contributions during the super projection phase of the calculator.
  • We assume that you have provided your Tax File Number to your superannuation fund. 15% tax is deducted from your employer contributions and before tax (salary sacrifice) contributions. It is assumed that you qualify for any government low income superannuation tax offset if your income is below the relevant Government threshold.
  • Any contributions to other superannuation funds have not been considered in the calculator. The results displayed by this calculator are in today's dollars, not in future dollars. The calculated life expectancy is based on Australian Life Tables for years 2010-12.
  • Assumptions for the accumulation phase of the projections

  • The Superannuation Guarantee rate is assumed to be 9.5% of the gross salary. Employer (concessional) contributions are assumed to be not less than the minimum amounts to which you are entitled under Superannuation Guarantee legislation and are subject to 15% contributions tax. No allowance has been made for the maximum superannuation contribution base. The projection does not take into account any future changes to Superannuation Guarantee Rate.
  • Once an Account ID is provided, the projection tool retrieves the most recent data for a member’s account directly from the Registry system.
  • Investment earnings are Net of fees (excluding Fixed Administration Fees) and Gross of Taxes. They are credited to your account balance at the nominated investment return. There is no default rate. You may specify a rate of investment return based on your Risk Profile. The actual rate of return for your investments may differ significantly from this assumption.
  • A default amount of $1.50 per week is provided for 'Fixed Administration Fee’.
  • Annual insurance premiums from the past year are projected to Retirement Age. Insurance premiums are increased in line with CPI for illustrative purposes only. Insurance premiums increase at each birthday and will likely exceed CPI. This will impact upon your investments which may differ significantly from this assumption. The initial premium is based on your current insurance cover.
    Government co-contribution has been included in the calculation for users with income under the threshold. This has been based on the gross salary and after tax contributions that have been entered into the calculator.
  • No allowance has been made for the bring-forward non-concessional contribution provision for people under 65 years old.
  • No allowance has been made for Government benefits or other income sources prior to retirement with the exception of the Government super co-contribution. If any of these other income sources apply before retirement, the calculator's results will not give a true reflection of the longevity of your own resources in retirement.
  • Projections are only for Superannuation Accumulation accounts.
  • It is assumed a member’s Super is entirely with us.
  • Member ages range from 16-66. 
  • Minimum account balance of $6,000 is required for a projection. 
  • The ASFA 'Modest lifestyle' and 'Comfortable lifestyle' benefits are based on a survey by ASFA Retirement Standard (September 2020) stating that the total annual income needed to fund a modest retirement is $27,987 (single)/$40,440 (couple) and a comfortable retirement is $43,901 (single)/$62,083 (couple). The ASFA comfortable standard specifies a retirement account balance of $545,000 (including Age Pension) for a Single individual. 
  • The tool uses ASFA’s estimates of the account balance at retirement required for a comfortable retirement.  
  • It is assumed you will be the only user of the tool as the projections are based on your accumulation details only. It is not recommended any other person use the tool through your member login.
  • Some of the parameters used to calculate the projection cannot be changed.