Superannuation Calculator

What is Superannuation?

Superannuation (super) is Australia's compulsory retirement savings system. Employers contribute 12% of your ordinary time earnings to your super fund.

How this calculator works

This calculator projects your super balance at retirement using compound growth. It takes your current balance, adds annual employer contributions (12% SG), any extra contributions you make, and applies investment returns at your chosen rate (conservative 5%, balanced 7%, or growth 9%). The projection chart shows how your balance grows over time, with the split between your contributions and investment growth. The 4% rule estimate shows how much annual income your super could provide in retirement. The target income panel reverses the calculation to show how much extra you need to contribute monthly to hit a target retirement income.

The 12% Super Guarantee

From 1 July 2025 the Super Guarantee (SG) is 12% — the final legislated increase from the 9.5% rate that started in 2014. Employers must pay 12% of your ordinary time earnings (OTE) into your nominated super fund quarterly. OTE includes salary, commission, paid leave, and some allowances. Excludes overtime, redundancy, parental leave pay (employer's portion), and most reimbursements.

Concessional vs Non-Concessional Caps

CONCESSIONAL (pre-tax) cap: $30,000/yr from 1 July 2024 (was $27,500). Includes SG + salary sacrifice + personal deductible contributions. Taxed 15% in fund. NON-CONCESSIONAL (after-tax) cap: $120,000/yr or $360,000 over 3 yrs (bring-forward rule). Stop accepting non-concessional if Total Super Balance ≥ $1.9M. Excess concessional contributions are taxed at your marginal rate; excess non-concessional taxed at 47%.

Carry-Forward Concessional Contributions

Since 2018-19 you can carry forward UNUSED concessional cap for up to 5 years, provided your Total Super Balance is under $500,000 at 30 June of the previous year. Example: if you contributed only $10k in 2024-25 (cap was $30k), you have $20k carry-forward in 2025-26 — total contribution capacity of $50k for that year. Hugely valuable for people returning to work after kids or career breaks.

Investment Return Assumptions

Long-run net returns by option (after fees, before tax): Conservative ~5%, Balanced ~6.5-7%, Growth ~8%, High Growth ~9%. ASFA's 30-year median industry fund return (1992-2022) was 6.7%/yr balanced option. Younger members (30+ years to retirement) generally benefit from Growth/High Growth — short-term volatility doesn't matter and compound growth dominates. Within 5-10 years of retirement, shift toward Balanced/Conservative to reduce sequence-of-returns risk.

Division 293 — High-Income Earners

If your income + concessional contributions exceeds $250,000, you pay an extra 15% tax on your concessional contributions (Division 293). Total tax = 15% (in fund) + 15% (Div 293) = 30%. Still better than the 47% personal marginal rate (45% + 2% Medicare). Salary sacrifice remains tax-effective for high earners — just less so than for someone on 30% rate.

Accessing Your Super

Preservation age is 60 for everyone born after 1 July 1964. Access conditions: (1) retire after preservation age, (2) reach age 65 regardless of work status, (3) transition-to-retirement pension (TTR) from preservation age while still working, (4) limited early access for severe financial hardship, compassionate grounds, terminal illness, or first home super saver scheme (FHSS). Most super contribution rules also stop at age 75 (you can't make concessional contributions after age 75 except SG).

All calculations are performed in your browser — your data never leaves your device. Results are for general guidance only and should not be considered professional financial advice.

Built and maintained by Konstantin Iakovlev. Data sourced from the ATO and official Australian government sources.