How to Use the Superannuation Projector

Planning for your retirement is easy with the Superannuation Projector on MySalaryCalculator. This simple tool helps you estimate how much super you could have by the time you retire, based on your current balance, salary, contributions, and growth expectations. Here’s a quick guide to each section of the calculator:

1. Current Super Balance ($)

Enter the total amount currently in your superannuation account.
Example: If your statement shows $50,000, type “50000”.

2. Annual Salary ($)

Fill in your yearly salary before tax.
Example: If you earn $75,000 a year, type “75000”.

3. Employer Contribution Rate (%)

Input the percentage of your salary your employer contributes to your super.
Tip: The standard rate is 11.5% for 2024-25, but check your payslip or ask your employer if unsure.

4. Years Until Retirement

Enter how many years you plan to keep working before retiring.
Example: If you’re 35 and want to retire at 65, enter “30”.

5. Expected Annual Growth (%)

Estimate the average yearly return you expect from your super investments.
Tip: 5% is a common default, but you can adjust this based on your fund’s past performance or your own expectations.

6. Annual Extra Contribution ($)

If you make additional voluntary contributions each year, add the total amount here.
Example: If you salary-sacrifice $2,000 a year, enter “2000”. If not, leave this blank or enter “0”.

Why Use This Calculator?

• See Your Future Savings: Instantly estimate your super balance at retirement.
• Test Different Scenarios: Change your salary, contributions, or retirement age to see how your savings could grow.
• Plan with Confidence: Make informed decisions about your super and retirement goals.
• Stay Motivated: Watching your projected balance grow can inspire you to save more for your future.

Tips for Accurate Results

• Use the latest figures from your super statement and payslip.
• Update your details if your salary or contributions change.
• Review your projection regularly, especially after major life events.

Frequently Asked Questions

Do I need to fill in every field?
For the most accurate estimate, complete all fields. If you’re unsure, use the default suggestions.

What if I don’t make extra contributions?
Leave the “Annual Extra Contribution” field blank or enter “0”.

Can I update my details later?
Absolutely! Update your information anytime to see new projections.

Start Planning Your Retirement Today

Take control of your financial future with the Superannuation Projector. Enter your details, experiment with different scenarios, and see how small changes today can lead to a more comfortable retirement.
Try the calculator now and get a clearer picture of your retirement savings!