How long will your money last?
An account-based pension such as the QSuper Pension allows you to use your superannuation benefit to generate a tax-effective income stream in retirement.
With an account-based pension, 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 pension limit is 10% of the account balance.
The Commonwealth Government has provided relief which reduces the minimum income drawdown requirements for the 2012/2013 year by 25%. The calculator does not take this into consideration.