Retirement Readiness Index - Retirement Income Simulator

Clarity across your members' journey to retirement

Mercer Retirement Readiness Index offers simple, affordable and flexible access to valuable insights and helps focus marketing & member communication to support those members who are less prepared.

What is Mercer Retirement Readiness Index?

Mercer Retirement Readiness Index instantly measures how your members are tracking towards achieving a comfortable retirement. Mercer Retirement Readiness Index is accessed through a secure web-portal which will:

Project

members' super balances at retirement age.

Compare

members’ super balances with the amount required to provide an income stream in retirement that meets ASFA’s Comfortable Retirement Standard or a suitable benchmark of your choice.

Group

members into green, amber, red zones.

Score

each fund out of 100 - indicates a snapshot of the fund’s current position.

Benchmark

your funds’ scores against other funds.

Test

the impact of member campaigns allowing for market volatility.

Out of the box package includes

Full access to a secure web-based portal with instant member readiness results at any time during the year.

Six monthly actuarial review and workshop providing important trends and segments, plus actions to improve your fund’s Mercer Retirement Readiness Index score.

Insights into the Mercer Retirement Readiness Index score of other participating funds upon the two check points each year.

Initial training and technical support.

Research based on APRA data¹ shows that the average member in about 60% of APRA funds will need to rely fully or partly on the government age pension and will be unable to achieve a comfortable standard of living in retirement.

And while an expense survey² of super funds suggests more than $1 billion is spent on marketing and communication each year, more than half public offer funds are losing members and assets due to negative net rollovers.

Some questions you can consider

Are our members on track to achieve their retirement goals?
How well is our fund performing compared to other funds?
How can we identify members that need help?
Are our strategies to enhance retirement readiness working?
Is our marketing budget directed in the right place?

Mercer Retirement Readiness Index can answer these questions and help you

Better understand your members’ readiness for retirement
Plan your marketing budget with focus and target your marketing according to how well positioned members will be in retirement
Measure the effectiveness of strategies and monitor management performance
Confidentially compare with other funds and stay competitive
Display social responsibility and move the needle on improving retirement outcomes

Contact us

1. APRA 2013 and 2014 Superannuation Fund-level Publications , Australian Prudential Regulation Authority

2. “Superannuation Fees – Financial System Inquiry” , Rice Warner, 2014