How long will your money last?
An Income account allows you to use your superannuation benefit to generate a tax-effective income stream in retirement.
With an Income account you can:
- choose the level of income you want to receive each year, subject to a minimum amount
- vary your level of income depending on your needs
- make lump sum withdrawals.
Once you have chosen an income level and an earning rate, the calculator will then illustrate the income you may get and how long your retirement nest egg may last.
For those using a transition to retirement option, the maximum annual income limit is 10% of the account balance.