Our new and improved calculator is coming soon
20 June 2018
Whether you're making plans to retire soon or you’re still a while away from retiring, the more you know about your retirement savings, the better.
Soon, you'll find a new and improved retirement planning calculator on our website. You can see a screenshot below. We've created this calculator to help you take control of your retirement savings and see a projection of what your retirement income might look like.
Here's a quick guide to some of the features of the new calculator.
You might learn more about your retirement savings
With our current calculator, you can see your projected super balance at retirement. When you use our new calculator, you'll also be able to see a projected annual income in retirement, the age when your super will run out, and how much more savings you may need.
Here's how it looks in the calculator.
With this information, you can get a sense of whether you’re on track to enjoy the kind of retirement lifestyle you’d like – and what you can do if you need to boost your savings.
We have calculator options for GESB Super, West State Super and Gold State Super, so you can get a projection to suit your account type.
You’ll be able to include other details in your calculations
If you have a partner, our new calculator will allow you to include their details to get a projection of what your joint finances might look like when you retire.
You can also include other factors such as the Age Pension, or switch off that feature to see what your projected income might be without the Age Pension.
You’ll be able to test how different factors affect your balance
The more details you enter in our new calculator, the more accurate your projected income and balance are likely to be. Once you have your results, you’ll be able to change some of the details to see what your projection would look like. For example, you could see the impact of changing your contributions or see what happens if you retire at a different age. Or, you could see the possible impact of changing your investment plan.
You can compare your retirement savings
Your own retirement goals are the best measure of your projected retirement savings, but it can be useful to see how other people around the same age might compare. With our new calculator, you can see how your current super balance compares with other members like you, based on your age, gender, salary and account type. Here’s an example of the comparison graph.
It’s easy to use on a range of devices
We’ve made our website easy to use on a range of devices - and our new calculator is no exception. It will be easy to use our new calculator on your computer, smartphone or tablet such as an iPad. This is part of how we’re improving the way we do things online, to make it easier for you to learn more about your super and plan ahead.
If you have any questions about the new calculator once it’s available, you can call us on 13 43 72.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 12 December 2018.