Will employer contributions to my super be enough?

The Westpac ASFA Retirement Standard report conducted in June 2009 determined that a couple looking to achieve a comfortable retirement needs to spend $50,771 a year, while those seeking a 'modest' retirement need to spend $37,822 a year.  Read the media release from ASFA.  

Just how long is a piece of string?

	Age you retire	To get $25,000 each year you'll need $	To get $35,000 each year you'll need $	To get $45,000 each year you'll need $
Women	55	584,600	818,440	1,052,280
	60	510,075	714,105	918,135
	65	434,400	608,160	781,920
Men	55	510,525	714,735	918,945
	60	436,025	610,435	787,845
	65	363,950	509,530	655,110

Source: BT Funds Management

Assumptions: The gross rate of investment return is 6.0% pa. Assumed management fee is 1.5%, giving an after-tax return of 4.5%. Inflation is 3.0% pa and all pension payments are indexed accordingly. There is no investment tax on the assets used to support the retirement income stream. Amounts are in today's dollars, i.e. have been adjusted for inflation. Based on life expectancies using Australian Life Tables 1995/97, the returns are illustrative only and are not indicative of any BT fund. A small change in any one of the assumptions can lead to a large change in the results. As you withdraw your capital over time, the dollar value of your income will reduce. Future performance of any fund is not guaranteed.

Don't forget inflation

The figures shown here take into account an expected increase in the cost of living due to inflation, measured using the Consumer Price Index (CPI). You need to ensure the value of your investments isn't eroded by inflation.