When we refer to you "taking your super" we mean taking your account balance ('your benefit') which consists of a preserved and non-preserved component. Generally you cannot access a preserved component until you reach retirement age, are permanently disabled, or die. You can, however, access a non-preserved component at any time.
The amount shown in your estimated account balance ('your benefit') is before tax. The tax amount shown is what would have been deducted from your benefit had it been paid to you on the date of the calculation. Where we do not have your Tax File Number (TFN), the tax amount shown assumes the highest marginal tax rate. By rolling over your super entitlements when leaving your employer, the payment of tax is deferred until you receive your benefit.
Your benefit estimate does not describe all of the conditions affecting your benefit and its availability. Your benefit will be determined in accordance with the Trust Deed, trustee determinations and Government regulations. Your benefit is an estimate; the Trustee does not guarantee you will receive this particular amount as it is subject to market movement. Therefore you should consider it in conjunction with the information contained in the relevant Product Disclosure Statement and other documents sent to you.
If you are a defined benefit member and have recently ceased employment or elected Choice of Fund, the estimates provided on this website may not accurately reflect your benefit if notice of your cessation of employment or the effective date of your Choice of Fund we have not yet received and processed.
Your benefit is based on information available to the trustee at the time of calculation. At the time of payment, your benefit may be:
Please note:
While all reasonable efforts have been made to ensure the information contained in the estimate of your benefit is correct, the trustee reserves the right to correct any error or omission. The account balance is an indication only of your current superannuation benefit and must not be relied upon as the actual benefit amount, or in making any decision about your superannuation investment. No liability is accepted by smartMonday or its employees or the trustee of your fund or your employer for any loss or damage whatsoever arising from the use of the Account Balance. If any of your personal details are incorrect, the estimate of your benefit may be affected. If you require further information or a confirmation of the estimate of your benefit, please call us on 1300 880 588.
Your retirement estimate is provided by the Retirement Income Simulator. This Simulator provides estimates on two important questions:
It illustrates the effect of variable factors such as superannuation contributions, investment returns and retirement income on how much super you may potentially have at retirement and how long it may potentially last you.
The Simulator cannot take into account changes in your personal circumstances, actual future investment returns, inflation or future changes to the Age Pension and tax regulations.
The Simulator uses default assumptions about future investment returns and inflation. These are considered reasonable at the current date based on long-term economic modelling (by Mercer Investment Consulting). You can modify these assumptions.
The Simulator gives the results in today's dollar values. The amounts provided in today's dollars have been calculated by deflating the projected dollar amounts using the rate of wage inflation in the assumptions.
The simulator is designed to calculate how many years your super may last in retirement up to a maximum age of 105.
This Simulator does not take into account your personal objectives or your personal financial situation. The simulator 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 Simulator 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. It has been designed for Australian conditions only.
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 smartMonday (and its related entities) can use any information you have provided in using the Simulator (and any illustrations produced for you by the Simulator) for marketing, research and improving customer experience. You can opt-out of any marketing and general communications by contacting us.
Other than as required under consumer protection law, no liability is accepted by smartMonday or its employees or the trustee of your fund or your employer for any loss or damage whatsoever arising from the use of this simulator.
More Information
This Simulator can be used to estimate the level of your superannuation benefit at retirement and to check whether you might have sufficient funds to provide you with your desired standard of living in retirement. Click below to access more information about the assumptions used.
