Important Information - account balance

Additional information about your account balance (super)

Your account balance (‘your benefit’) may consist of a preserved and non-preserved component(s). A preserved component generally cannot be accessed until you reach preservation age, become permanently disabled, or die. Non-preserved components may be unrestricted or restricted. An unrestricted non-preserved component can be accessed by you at any time. If you have a restricted non-preserved component, it cannot be accessed until you meet a condition of release, or when you cease employment with the employer to which the amount relates.

If your benefit was paid to you on the date of calculation, tax may be applied depending on your personal circumstances. If we do not have a tax file number recorded for you, you may be taxed at the highest marginal tax rate.

The estimate of your benefit does not describe all the conditions which may affect your benefit, which will be determined in accordance with the Trust Deed, Government regulations and trustee determinations. Your benefit is an estimate and may increase or decrease depending on your investment choice and market movements.

Our benefit is based on information available at the date of calculation. When you receive a payment, your benefit may be:

Subject to deductions which are due, but not yet allocated to your benefit
Calculated with the unit prices available at the time your benefit is paid to you
Subject to tax in accordance with the tax-free and taxable components
Subject to change if any of your personal details are incorrect.

While every reasonable effort has been made to ensure that the estimate of your benefit is correct, the Trustee reserves the right to correct any errors or omissions. You should not enter any commitments based on the estimate of your benefit.

If you would like to discuss your estimate, please contact us on 1300 360 149.

The information on this page is general in nature and has been prepared without consideration of your personal circumstances. You should consider your own investment objectives, financial situation and needs and read the appropriate product disclosure statement before making any decisions. You may also wish to consult a licensed financial planner.

While all reasonable efforts have been made to ensure the information is accurate, CareSuper reserves the right to correct any error or omission.

Retirement estimate

Your retirement estimate illustrates the effect of variable factors such as superannuation contributions, investment returns and retirement income on how much super you may have at retirement and how long it may last you.

The estimate cannot take into future account changes in your personal circumstances, actual future investment returns, inflation or future changes to the Age Pension and tax regulations.

The estimate uses default assumptions about future investment returns. These are considered reasonable at the current date based on long-term economic modelling (by Mercer Investment Consulting). You can modify these assumptions.

If you choose a partnered estimate, the amount shown represents your component of retirement savings and income only. You will receive half the couple Age pension entitlement, assuming your partner is the same age and has the same amount of super as you.

The estimate is shown in today's dollar values. The amounts provided in today's dollars have been calculated by deflating the projected dollar amounts using prescribed rates of wage inflation (3.7% p.a.) before retirement and price inflation (2.5% p.a.) for the retirement phase, as required by ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603. You can modify the rate of price inflation, but the rate of wage inflation remains 1.2% p.a. higher.

The estimate also calculates how many years your super may last in retirement up to a maximum age of 105, and shows an adequacy percentage by comparing your projected balance against a benchmark amount. The benchmark amount is the super balance at retirement age that would provide 25 years of retirement income at the desired income level, assuming a 7% p.a. net investment return.

This estimate has been designed for Australian conditions only and does not consider your personal objectives or your personal financial situation. The estimate cannot determine your final super benefit or income and the projections shown are intended as a guide only, based on the information you input. You should not rely on the estimate in isolation to make any decisions about your super or any other financial product. Before making a decision you should consider seeking advice from a licensed financial adviser.

The words 'a comfortable retirement' have the same meaning as the ASFA Retirement Standards. What you consider to be a comfortable retirement for you may be higher or lower than the comfortable retirement amount in the ASFA Retirement Standards.

You agree that Mercer (and its related entities) can use any information you have provided in using the estimates (and any illustrations produced for you by the estimate) for marketing, research and improving customer experience. You can opt-out of any marketing and general communications by logging in to your personal details page and updating your preferences.

Other than as required under consumer protection law, under no circumstances will CARE Super Pty Ltd, Mercer and its related entities be liable for any loss or damage caused by your reliance on information obtained from using this estimate.

More Information

The Retirement Income Simulator contains more information about the methodology and assumptions used in the estimate. Click below to access more information in the Simulator.

More information

Retirement Estimate Scope/disclaimer

Any advice contained in this retirement estimate is of a general nature only, and does not consider the personal needs and circumstances of any individual. Prior to acting on any information contained in this retirement estimate, you need to consider your own financial circumstances, consider the Product Disclosure Statement for any product you are considering, and seek professional advice from a licensed, or appropriately authorised, financial adviser if you are unsure of what action to take. Past performance should not be relied upon as an indicator of future performance. Forecasts are not guaranteed to occur. This information has been received in good faith from sources within the market and on our understanding of legislation and government press releases at the date of publication which we believe to be reliable and accurate.

This retirement estimate is not intended as an advertisement for any product issued by CARE Super Pty Ltd, Mercer or any of its related entities.