Retirement: everything you need for a secure and successful journey

Wondering how long their savings will last is a common concern for many retirees. The reality is it depends on many factors relating to the lifestyle you wish to live and the way you invest your money. 

For a quick snapshot about retirement incomes and how long your money might last try our account-based pension calculator.

How much a couple requires in retirement is dependent on several factors. These include what ages you both intend to retire and the lifestyle you wish to live in retirement. 

Find out what a comfortable retirement looks like for a couple.

The short answer is yes. But there are conditions you need to keep in mind. Most importantly, contributions can only be paid into a super account. This may require a ‘pension reboot’ – you can learn more about this process via our contributing to super in the pension phase page.  .  

Learn more about contributing to super in the pension phase.

A transition to retirement strategy is an approach for individuals aged 60 and older to access their superannuation and use it in three different ways:

• Keep working and grow their super.
• Reduce their work hours.
• Get extra income from their super.

Learn more about a transition to retirement strategy.

For those wanting to ease into retirement at their own pace, a TTR Income account can be good option if you want to reduce work hours without a loss in income or take advantage of tax savings.

Learn about the benefits and disadvantages of a Transition to Retirement income account.

An allocated pension, also known as a Retirement Income account (or sometimes referred to as an account-based pension), is a retirement income stream that lets you draw a regular income from your superannuation. The terms can be used interchangeably. 

Learn more about an allocated pension / account based pension / Retirement Income account.

The Age Pension provides financial support for millions of Australians during retirement. Centrelink determines how much a couple or a single person receive every fortnight through the Age Pension assets test and income test.

Learn more about the Age-Pension assets test.

Along with the assets test, the income test is a key factor in determining how much Age Pension you may be eligible for. Centrelink uses deeming to determine how much income your financial assets produce. 

Learn more about the Age-Pension income test.

Learn more about deeming.

Deeming rates directly affect your Age Pension payments by estimating the income from your financial assets. Instead of looking at the actual income you earn from your financial assets, Centrelink estimates it for you. This estimated income is called deemed income and is based on the value of your financial assets.

Learn more about deeming.