Superannuation Calculator

Superannuation — 'super' — is Australia's compulsory retirement savings system, and for most people it becomes one of their largest assets. The idea is simple: a portion of your earnings is paid into a super fund throughout your working life, invested, and accessed in retirement, with generous tax treatment along the way.

The engine of super is the employer super guarantee (SG). Employers must pay a set percentage of your ordinary earnings into your super fund on top of your wages — 12% from 1 July 2025 (up from 11.5% the year before). This is separate from your take-home pay; it's additional money invested for your future. Over a full career, these contributions plus investment returns can compound into a very substantial balance.

Super is also highly tax-advantaged. Employer and salary-sacrifice (concessional) contributions are taxed at just 15% going in — usually far below your marginal income tax rate — and investment earnings within super are taxed at a maximum of 15%, lower than most people's personal rate. In retirement, once you can access your super, withdrawals and earnings are generally tax-free after age 60. This favourable treatment is why voluntary contributions can be such an effective way to build wealth and reduce tax, within annual contribution caps.

You can boost your super beyond the SG in several ways: salary sacrifice (directing pre-tax pay into super), personal deductible contributions, after-tax contributions, and government co-contributions for eligible lower-income earners. Each has caps and rules, but extra contributions early in your career benefit enormously from decades of compounding.

How your super is invested matters greatly. Most funds offer options from conservative to high-growth, and because the time horizon is often decades, a growth-oriented mix has historically produced higher long-term balances despite more short-term volatility. Fees also matter — even small differences compound over a working life — so comparing funds and consolidating multiple accounts can make a real difference.

Super can generally be accessed once you reach your 'preservation age' (between 55 and 60 depending on birth year) and retire, or from age 65 regardless. This calculator projects your balance at retirement from your contributions and assumed returns, giving you a sense of whether you're on track. Real returns vary year to year, and rules and rates change, so treat the projection as a guide and review your super regularly.