Superannuation Growth: Plan Your Retirement with Confidence
Superannuation is Australia's retirement savings system. Employers must contribute at least 11.5% of your ordinary time earnings (OTE) as Super Guarantee (SG) for FY 2025-26. This calculator estimates your super balance at retirement based on current balance, salary, contribution rate, expected returns, and years until retirement.
FAQ
Q1: What is the Super Guarantee (SG) rate for 2025-26?
The SG rate is 11.5% for the 2024-25 financial year and will rise to 12% from 2025-26. Employers pay quarterly into your super fund.
Q2: Can I make extra contributions to my super?
Yes. Concessional (pre-tax) contributions up to the annual cap ($30,000 in 2024-25, $35,000 if age 60+). Non-concessional (after-tax) contributions up to $120,000 per year. Government co-contributions may apply for low-to-middle income earners.
Q3: How are super investments taxed?
Super earnings are taxed at 15% (lower than the top marginal rate 45%). Capital gains within super are taxed at 15% (10% if assets held >12 months).
Q4: When can I access my super?
You can access super upon reaching your preservation age (currently 60 for most) and retiring, or under specific conditions (hardship, terminal illness, first home purchase via FHSS). Withdrawals are tax-free if over preservation age.
Important: Actual returns depend on your fund's performance and investment choices. Past performance is not indicative of future results. Consider consulting a financial adviser.