Retirement Incomes

Public Policy

A framework to maximise retirement income

When you retire, your salary stops. For people in the ‘middle Australia’ cohort – who aren’t wealthy enough to self-fund their retirement but who still want a lifestyle that's higher than what the Age Pension provides, the maths to determine how much superannuation to safely withdraw is difficult.

Highlights

Good Practice Principles: Superannuation and retirement models

Every Australian deserves a confident answer to basic questions like “How much do I need to retire?”, “How much can I spend in retirement with a high level of confidence?” and “How much Age Pension can I expect to receive?”. They also need to know how this will change if they contribute more or less to superannuation. However, the mathematics and assumptions to answer these basic questions with high confidence are surprisingly complex and deeply ‘actuarial’.