The Finance AlgorithmTFA

Retirement Income Calculator

Calculator

Estimate how much income your super will provide in retirement and how long it will last.

Free to useNo data storedAI insightsUpdated: February 2026

How long will your super last in retirement? This is the question every Australian should be asking. Our Retirement Income Calculator estimates your annual retirement income based on your super balance, desired lifestyle, and investment returns. It also factors in the Age Pension and minimum drawdown rules so you get a realistic picture of your financial future.

Enter Your Details

Enter Your Details

$

Your projected super balance when you retire

Age you plan to stop working

$

How much per year you'd like to live on

%

Conservative returns in pension phase (typically 4-6%)

%

Assumed inflation rate

Housing status in retirement affects pension eligibility

Affects Age Pension thresholds

Real-World Examples

Comfortable Retirement

Maria retires at 67 with $700,000 in super. She wants $55,000/year and owns her home.

With 5% returns, Maria's super could last until age 87. The Age Pension would then provide a safety net. Drawing $50,000 instead extends her super by 3 extra years.

Early Retiree

David retires at 60 with $900,000 and wants $65,000/year. He can't access the pension until 67.

David needs ~$455,000 to bridge the 7-year gap before pension age. His remaining $445,000 + pension could fund his lifestyle well into his 90s.

Frequently Asked Questions

Glossary

Account-Based Pension
A retirement income stream from your super. You draw regular payments while the remaining balance stays invested. Minimum drawdown rules apply.
Transfer Balance Cap
The maximum amount you can transfer into tax-free pension phase. Currently $1.9 million per person (indexed).
Drawdown Rate
The percentage of your super balance you withdraw each year. Minimum rates are set by the government and increase with age.
Age Pension
A government income support payment for eligible Australians aged 67 and over. Subject to income and assets tests.

Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Interest rates, fees, and policies change frequently. Always verify information with lenders directly. This is general information, not personal financial advice. Consider seeking advice from a licensed mortgage broker or financial advisor.

Last updated: February 2026

How to Use
  1. Enter your expected super balance at retirement (use our Super Balance Projector if unsure).
  2. Set your retirement age and desired annual income.
  3. Adjust the investment return and inflation assumptions.
  4. Select your housing and relationship status for Age Pension estimates.
  5. Review how long your super will last and whether you'll qualify for government support.
Key Information
  • ASFA recommends $595,000 for a comfortable single retirement and $690,000 for a couple (owning their home).
  • The Age Pension provides up to $28,514/year for singles and $42,988/year for couples (2024-25 rates).
  • Minimum drawdown rates start at 4% for under-65s and increase with age (up to 14% for 95+).
  • Super in pension phase currently earns investment income tax-free (up to $1.9M transfer balance cap).
Pro Tips
  • Don't assume you'll spend the same amount every year — early retirement is often more expensive (travel, hobbies) than later years.
  • Consider a mix of account-based pension and Age Pension for tax-efficient income.
  • Factor in large one-off costs like home maintenance, car replacement, and medical expenses.
  • Keep a buffer of 2-3 years' living expenses in lower-risk investments for market downturns.
Avoid These Mistakes
  • Underestimating how long you'll live — the average 65-year-old Australian will live to 85-87.
  • Forgetting that inflation erodes your purchasing power — $50k today buys much less in 20 years.
  • Drawing down too much in the first few years and depleting savings prematurely.
  • Not accounting for healthcare costs which increase significantly in later years.
Ask AI anything