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Disclaimer & Assumptions

1. Super Estimator

Disclaimer

This calculator is intended to provide illustrative examples based on the assumptions below and your inputs and is not intended to be used as a substitute for professional financial advice. It only models the potential effect of voluntary after-tax contributions, which may not be the most appropriate way for any particular member to add to their super, and does not allow you to model other scenarios, for example, the potential effect of changing your investment option.

Don’t make changes to your retirement savings arrangements based on this estimate. Before you make changes, you should get more information, and consider obtaining advice from an Australian Financial Services licensee.

Actual outcomes will depend on a range of factors, for example the investment option you choose and how it performs, total contributions and fees, when you retire and how long you live, whether you choose to access your super as an allocated pension, and whether you are eligible for the Government age pension.

The Sunsuper Board of Trustees and its employees expressly disclaims all liability and responsibility to any person who relies, or partially relies, upon anything done or omitted to be done by this service. You should also read the General Advice Warning below.

Assumptions

This estimated extra retirement income amount is shown in today’s dollars and has been worked out using these assumptions:

i. voluntary after-tax contributions will increase at the same rate as inflation and continue until age 67.

ii. investment earnings of 3% per year after inflation and investment fees and costs.

iii. administration fees of 0.10% per year.

iv. you retire at age 67.

v. you want your super to last for 25 years, that is, until age 92. Around one in six men and one in four women who reach age 67 will live beyond age 92.

vi. current tax and superannuation laws remain unchanged.

If you want to know more about the way this estimate has been calculated, or the assumptions, call us on 13 11 84.

2. Find and Combine your super

Disclaimer

This is an illustrative example only. Before making a decision to combine your super, you should compare funds, consider your total level of insurance cover and any exit fee that may apply. You should consider getting financial advice tailored to your circumstances. You should also read the General Advice Warning below.

43% of Australians have more than one super fund. Source: ATO, as at 30 June, 2016.

Assumptions

Calculated using the average MySuper product administration fees for a $50,000 balance of $185 p.a. Source: Chant West Super Fund Fee Survey for March 2017. Does not take into account investment fees, investment earnings or inflation.

3. Where are you headed?

Disclaimer

The retirement lifestyles shown are illustrative examples only. Your desired retirement lifestyle and what it costs will be unique to your own personal wants and needs. You should consider getting financial advice tailored to your circumstances. You should also read the General Advice Warning below.

Assumptions

Refer to the Notes to your Annual statement for other assumptions used in the above forecast.

4. 10/30/60 Revelation

Disclaimer

The outcome is a general indication only and not guaranteed. This model is intended to illustrate the potential effects of leaving money invested in super after retirement, and does not consider factors like making extra contributions or the impact of different investment strategies. The model does not take into account all of your personal objectives, financial situation or needs. Accordingly, you should consider the outcome having regard to your personal objectives, financial situation and needs before acting. Your 10/30/60 percentages and total income in retirement may differ from the outcomes shown if the assumptions used in the model do not match your circumstances. Calculation by Sunsuper based on the 10/30/60 rule (see Russell Investments: The 10/30/60 Rule. January, 2015). You should also read the General Advice Warning below.

Assumptions

i. The model assumes past contributions starting at age 20. These are based on:

1. historical Super Guarantee rates from 1992 and award contribution rate of 3% of salary prior to 1992, and

2. the nominated salary growing to the current level assuming a salary increase rate of 3.75% p.a.

ii. The remainder of the current super balance is allocated interest earned on super while working

iii. The model assumes future contributions at the legislated Super Guarantee rates less contributions tax.

iv. The projection of the super balance to age 65 assumes:

1. investment returns of 7.0% p.a. (net of tax),

2. salary increase rate of 3.75% p.a.,

3. administration fees of $1.50 p.w. plus 0.1% of account balance, and

4. insurance premiums of $5 p.w. at current age increasing in future years at 2.5% p.a. and ceasing at age 65.

v. The projection of retirement income from age 65 assumes:

1. investment returns of 7.6% p.a.,

2. administration fees of $3 p.w. plus 0.1% of account balance

3. payments indexed at 3% p.a., and

4. account balance of nil at age 90.

vi. The pension payment amounts do not take into account the legislated minimum pension payments

vii. The actual percentages are calculated based on the total contributions made while working, interest earned on super while working and interest earned on super after stop working. The calculation of the dollar amounts attributed to each of the above is based on the calculated percentages applied to the value of the total pension payments expressed in today’s dollars. The results are shown in “today's dollars" so they are consistent with today's living standards. For the period prior to age 65 the discount rate is at 3.75% p.a., made up of 2.5% for inflation and 1.25% for the cost of rising living standards. For the period after age 65 the discount rate is 3.0% p.a., made up of 2.5% for inflation and 0.5% for the cost of rising living standards.

General advice warning

Sunsuper Pty Ltd ABN 88 010 720 840, AFSL No. 228975, is the Trustee and issuer of the Sunsuper Superannuation Fund ABN 98 503 137 921, USI 98 503 137 921 001. This online resource contains general information only. Any advice does not take into account your personal objectives, financial situation or needs. You should consider the appropriateness of any advice having regard to your personal objectives, financial situation and needs before acting on that advice. A copy of the Product Disclosure Statement (PDS) can be obtained by visiting sunsuper.com.au/pds or your Sunsuper for life Corporate or Business microsite, or by calling 13 11 84. You should consider the PDS in deciding whether to acquire, or to continue to hold, the product.

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