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Retirement

 

Retirement
Retire with confidence with EISS Super

Planning for retirement

For many people, compulsory super (the 10% most employers pay into super on your behalf) won’t be enough to fund a comfortable retirement. The best way to achieve any goal is to work out where you want to go and then plan the best way to get there. Your retirement is no different.

Frequently asked questions

Great question. It’s different for everyone, and depends on how long you’ll spend in retirement, and the type of lifestyle you’d like to have during this time. You also need to find out if you’re eligible for any government entitlements such as the Age Pension that will help fund your retirement. 

The Association of Superannuation Funds of Australian (ASFA) publishes a Retirement Standard that estimates the yearly budget needed by Australians to fund either a comfortable or modest standard of living in their retirement years. It might be worth taking a look at this to get an idea of how much money you’ll need. Alternatively, our Money Matters e-learning platform provides information on the various income sources to consider when it comes to funding your retirement. 
 
If you need help in planning your retirement, you can speak to one of our financial planners on 1300 369 901 or contact us here. 

You can check if you’re on track for a comfortable retirement with our Retirement Projection Calculator.

Preservation age is the age at which you can start accessing your super if you are retired or starting a transition to retirement income stream. Preservation age is based on your date of birth – see below table.

Date of birth  Preservation age 
Before 1 July 1960 55
1 July 1960 - 30 June 1961 56
1 July 1961 - 30 June 1962 57
1 July 1962 - 30 June 1963 58
1 July 1963 - 30 June 1964 59
From 1 July 1964 60
Scroll right to see full table
Scroll right to see full table
Scroll right to see full table

 

More FAQs

Simple things you can do

Taking care of your super today can help ensure you’re on track to reach your retirement goal. Check out the simple things you can do to manage your super: