Plan your retirement with confidence
Moving into retirement doesn’t need to be a stressful experience. We’ve outlined four simple steps you can follow to feel more confident as you approach retirement.
After you’ve read this page, you’ll be able to answer:
- What your retirement may look like
- What your expenses may be in retirement
- How much income you may receive in your retirement through your super and other sources
- How you can turn your super balance into a regular income in retirement
Step 1: Your retirement
Everyone pictures their retirement a little differently. If you click on one of the links below, a new tab will open in your browser so you can easily return to this page.
Here are six common questions people ask as they approach retirement:
What will my retirement lifestyle look like?
Will I be eligible for the government Age Pension?
How much super will I have when I retire?
How can I boost my super balance?
How is my super taxed in retirement?
If you’re aged 60 or over, you can generally make withdrawals as a lump sum or as an income tax-free.
Learn more about tax and your super.
When can I access my super?
After considering the questions above, your understanding of how your retirement may look should be clearer – making it easier to plan. You can now proceed to Step 2 and begin thinking about your expenses in retirement.
If you need more help, you can make an appointment with one of our friendly advisers1 and chat through your options.
Step 2: Download our retirement expense planner
This editable PDF can help you understand your expenses and visualise how your retirement may look financially.
After you’ve worked out your expenses, you can then begin thinking about your sources of income in retirement.
Step 3: Estimate your income in retirement
Estimate how much income you may receive in retirement if you’re planning to retire in the next five years.
Our Retirement Income Calculator can show you:
- how long your super may last based on the level of income you decide to take from it in retirement
- the impact making lump sum withdrawals can have on your super
- how the government Age Pension can contribute to your retirement income
- the potential impact of strong or weak market conditions on your retirement income, and more.
Step 4: Turn your super into an income in retirement
Our retirement income accounts turn your hard-earned super into a regular income stream.
Whether you want greater flexibility to choose how much and how often you’re paid in retirement or prefer a guaranteed and regular amount of income for the rest of your life, we have options to suit your retirement lifestyle.
Discover more about living in retirement
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Things you need to know1 UniSuper Advice super consultants can give you information and tell you what is generally recommended for our members. This advice will be of a general nature only and will not take into account your personal circumstances. Consider the PDS and TMD on our website and consider your circumstances before making decisions. UniSuper Limited (ABN 54 006 027 121) is the trustee of UniSuper (ABN 91 385 943 850).