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Account-based pension restriction
Your
super balance at retirement may exceed the transfer balance cap. We have assumed that the excess
remains in accumulation phase and will be drawn down to meet desired income each year.
You'll be paying your home loan into retirement
Your home loan balance will be
$0
at retirement. You can use the
retirement lump sums
panel to withdraw money from your retirement savings to pay off your home loan.
dismiss
- Summary
- Your income
- Your balance
- Your home loan
Connected
Projected retirement income (in today's future dollars)
Chart
Combination chart with 10 data series.
Your yearly after tax income will be $43,865 which lasts until age 65 when you retire. After retirement, your desired income of $52,000 is made up of your super drawdown and age pension. Your super will run out at age 70, which you have a 0% chance of living to. From there you will live on $27,996 per year.
The chart has 1 X axis displaying your age. Range: 40 to 105.
The chart has 1 Y axis displaying after-tax income. Range: 0 to 80000.
End of interactive chart.
Projected retirement savings (in today's future dollars)
NOW
RETIREMENT
BEYOND
COMPARE
Now
Age 40
40
years old
$44,000
net income
$20,000
in retirement savings
You
PARTNER
40
years old
$0
net income
$0
in retirement savings
$20,000
total retirement savings
YOUR CONTRIBUTIONS
$1,650
from your
employer
each year
employer
each year
$1,650
before tax
each year
each year
$1,650
in regular
contributions
each year
contributions
each year
$0
in voluntary
contributions
each year
contributions
each year
$0
in one off
contributions
contributions
Retirement
Age 65
You might retire with
$128,241
which includes
$0
in other retirement savings
You might retire with
$128,241
in market linked investments
$0
in Mercer LifetimePlus
in a longevity option
You might retire with
$128,241
and live on
at least
$52,000
a year
( that's
$1,000
per week )
Beyond
Age 65+
With 25%
of your client's super invested in Mercer LifetimePlus,
they can now expect to receive an income above the age pension for as long as they live.
Your retirement
savings might
last until age
savings might
last until age
70
Your retirement
savings might
last past age
savings might
last past age
105
Based on your age
and sex, there is a
and sex, there is a
89%
chance you will
outlive your
retirement savings
outlive your
retirement savings
However, your longevity option
will continue to provide an
income after your market
linked investments run out
will continue to provide an
income after your market
linked investments run out
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Compare
If you make the following changes:
You could retire with
$0
less
Your super
could run out at least
could run out at least
35
years sooner
Your risk of outliving your
super could decrease by
super could decrease by
0%
Longevity withdrawal value (in today's dollars)
Home Loan Balance (in today's dollars)
Chart controls
Chance of living to each age
New scenario created
| Saved | New |
Your age
40
Current annual salary
$55,000
$
Current retirement savings balance
$20,000
$
Sex
After-tax contribution restriction
Your super balance may exceed the transfer balance cap (currently $1.9 million) in the future. This means you’ll no longer be eligible to make after-tax contributions from that time.
Salary sacrifice restriction
Based on current settings, your concessional contributions will breach the cap.
Concessional contributions include employer contributions, salary sacrifice contributions
and employer-funded defined benefits. Any excess concessional contributions will be
treated as non-concessional and taxed at your marginal rate.
Employer contribution
3.00%
%
Your regular contributions
$1,650
Voluntary contribution p.a.
$0
$
Do you expect to make a one-off contribution?
One-off contribution age
40
One-off contribution amount
$0
$
Number of career changes
First career change
Age
40
First career change salary
$55,000
$
Change to KiwiSaver account
Employer contributions
5.00%
%
Your regular contributions
$1,650
3.00%
%
Your regular contributions
$1,650
Second career change
Age
41
Second career change salary
$55,000
$
Change to KiwiSaver account
Employer contributions
5.00%
%
Your regular contributions
$1,650
3.00%
%
Your regular contributions
$1,650
Third career change
Age
42
Third career change salary
$55,000
$
Change to KiwiSaver account
Employer contributions
5.00%
%
Your regular contributions
$1,650
3.00%
%
Your regular contributions
$1,650
Number of career breaks
First career break age
40
First career break length
0 years
year(s)
Second career break age
40
Second career break length
0 years
year(s)
Third career break age
40
Third career break length
0 years
year(s)
Home owner
Home loan balance
$300,000
$
Interest rate (% p.a.)
5.0%
$
Repayments (monthly)
$2,000
$
Other retirement savings
$0
$
Other income pre-retirement ($ p.a.)
$0
$
Other income when retired ($ p.a.)
$0
$
Re-invest NZ Super while still working?
Your spouse/partner
Current age
40
Current annual salary
$55,000
$
Current retirement savings balance
$20,000
$
After-tax contribution restriction
Your partner's super balance may exceed the transfer balance cap (currently $1.9 million) in the future. This means they’ll no longer be eligible to make after-tax contributions from that time.
Salary sacrifice restriction
Based on current settings, your concessional contributions will breach the cap.
Concessional contributions include employer contributions, salary sacrifice contributions
and employer-funded defined benefits. Any excess concessional contributions will be
treated as non-concessional and taxed at your marginal rate.
Employer contribution
3.00%
%
Is this a KiwiSaver account?
Your partner's regular contributions
$1,650
Your partner's regular contributions
3.00%
%
$1,650
Voluntary contribution p.a.
$0
$
Does your partner expect to make a one-off contribution?
Contribution age
40
Contribution amount
$0
$
Number of career changes
First career change
Age
40
First career change salary
$55,000
$
Change to KiwiSaver account
Employer contributions
5.00%
%
Your regular contributions
$1,650
3.00%
%
Your regular contributions
$1,650
Second career change
Age
41
Second career change salary
$55,000
$
Change to KiwiSaver account
Employer contributions
5.00%
%
Your regular contributions
$1,650
3.00%
%
Your regular contributions
$1,650
Third career change
Age
42
Third career change salary
$55,000
$
Change to KiwiSaver account
Employer contributions
5.00%
%
Your regular contributions
$1,650
3.00%
%
Your regular contributions
$1,650
Number of career breaks
First career break age
40
First career break length
0 years
year(s)
Second career break age
40
Second career break length
0 years
year(s)
Third career break age
40
Third career break length
0 years
year(s)
Desired retirement income
$52,000
$
Retirement age
65
Partner retires at different time?
Partner retirement age
65
Partner retirement age
65
Number of lump sum withdrawals in retirement
First lump sum withdrawal
your age
65
Your home loan at age 65 is:
$0
Withdrawal amount
$0
$
Second lump sum withdrawal
your age
66
Your home loan at age 66 is:
$0
Withdrawal amount
$0
$
Third lump sum withdrawal
your age
67
Your home loan at age 67 is:
$0
Withdrawal amount
$0
$
Lump sum withdrawal restriction
One or more of your lump sum withdrawals was greater than the amount remaining in your account that
year, and has been reset to 0.
Investment option
(default investment return)
Investment option (default return in retirement)
| Investment Strategy | Percentage Allocated |
|---|---|
| Investment Strategy | Percentage Allocated |
|---|---|
| Total (must be 100%) | 0% |
Different strategy during retirement
Retirement investment option
(default investment return)
Show Lifecycle Returns
Adjust default investment returns by
0%
%
Change fees
Hide fees
Adjust default percentage based fees by
0%
%
Percentage based fees
0%
%
Percentage based fees in retirement
0%
%
What is this?
Investment option
(default investment return)
Investment option (default return in retirement)
| Investment Strategy | Percentage Allocated |
|---|---|
| Investment Strategy | Percentage Allocated |
|---|---|
| Total (must be 100%) | 0% |
Different strategy during retirement
Retirement investment option
(default investment return)