Plan my retirement

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What to consider as you move towards retirement

Forward planning can make a significant difference to your financial situation after work. Here’s where you can learn more about retirement planning for a brighter future.

When can I retire?

You can access your super after you've reached your preservation age and meet certain conditions, such as retiring from work.

But this isn't your only option. Many Australians plan to work for longer, some retire earlier and others opt for a hybrid approach after reaching their preservation age - called a transition to retirement (TTR).

What is my preservation age?

Your preservation age is based on your date of birth. However, it is not the same as the government’s Age Pension age. Use the table to work out your preservation age or download our fact sheet for more information about accessing your super for retirement.

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Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
From 1 July 1964 60

How much will I need?

Unfortunately, there is no crystal ball divining the answer.

However, the ASFA Retirement StandardOpens in new window will go some way to helping you understand how much you will need to fund a comfortable or modest standard of living in your post-work years. It's a good starting point and provides itemised breakdowns that may be useful when preparing your own budget.

Our advice team can help you work out how much money you’ll need to support the lifestyle you want in retirement.

How long will my super last?

This generally depends on two things - how quickly you spend your savings and how long you're likely to live.

It's important to keep in mind the average life expectancy of Australians is increasing. Depending on when you retire, you may need to rely on your super savings, the age pension and other investments for up to 30 years or more

To help find your magic number, use our retirement calculator. It only takes a couple of minutes to input your current situation and you'll instantly receive a retirement income projection.

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Who can help me make retirement decisions?

As you look forward to life after work, it’s natural to feel a little confused or overwhelmed about your super and retirement options.

The VISSF Advice team can help you confidently transition to retirement, manage your assets more effectively and put strategies in place to make sure you get everything you are entitled to.

Learn more

Ready, set, retire!

Your super savings will play an important role in funding your life after work. Learn how to make them thrive as you create a reliable income stream in retirement.

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Pay yourself forward

Making a one-off contribution or adding a bit extra to your super every week can make a big difference to your future balance.

Grow super