How much will you have?

Two questions go hand in hand when it comes to retirement - how much will you have, and how much do you really need? Once the employment income stops coming in you'll be reliant on your super, any other investments and savings, and the Government's Age Pension if you are eligible to fund your retirement.

Plan ahead for the day your pay-packet ends

Money to live on

According to a report by the National Centre for Social and Economic Modelling (NATSEM) in 2004, the average income of an Australian aged between 50 and 69 who has stopped working is $16,600 pa. That's less than one-third the average income for an employed Australian of the same age ($52,500 pa).

Do the numbers

You may think that because your super is quietly accumulating for you, you'll have plenty to retire on. But statistics from the same NATSEM report (see left) suggest that the average super balance for Australians aged 50-69 is only $83,000. Check out how much you will need

Boost your super

Because the Australian Government wants to encourage Australians to save for their retirement, they've created a favourable tax environment for investing in super. Making additional contributions to your super can increase your retirement savings and may prove to be tax-effective for you. Check out how to make the most of your super

The Age Pension

The Government's Age Pension provides a modest income, but is not designed to replace a full wage. As the Age Pension is means-tested, the more assets you have, the less pension you are entitled to receive. The maximum Age Pension you can currently receive is around $12,900 a year, or around $21,600 a year for a couple. Read more about the Government's Age Pension

Could you live on $300 a week?

Only 12% of retired Australians receive a gross weekly income of $500 or more. Many Australians underestimate the importance of saving for their retirement. As a result, approximately 70% of Australians aged 65 or over currently live on a gross weekly income of less than $300. How much will you need?

Avoid the shortfall

There are many ways you can improve your financial position before and during retirement. Investing may help you achieve your goals at any stage of your life. Find out why you need financial advice

Find out more about retirement

Find a financial adviser using BT's Adviser Referral Program.
Learn about BT's pension plans.