Try our new retirement planning calculator
9 August 2018
We’ve developed a new 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 what’s changed in our new and improved retirement planning calculator.
Learn more about your retirement savings
Our previous retirement planning calculator allowed you to see your projected super balance at retirement. With our new calculator, you can also see a projected annual income in retirement, the age when your super will run out, and how much more savings you may need. This means 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. For example, if you have a West State Super account, the calculator will take the untaxed nature of your account into consideration, which most retirement calculators don’t do.
Include other details in your calculations
With our new calculator, if you have a partner you can 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.
Test how different factors affect your balance
Once you have your results, you can change some of the details to see what your projection would look like. For example, you might change how much you contribute, see what happens if you retire at a different age or see the possible impact of changing your investment plan.
Compare your retirement savings
Your own retirement goals are the best measure of your retirement savings, but it can be useful to see how other people around the same age might compare. With our new calculator, you can now see how your current super balance compares with other members like you, based on your age, gender, salary and account type.
Use our calculator on a range of devices
It’s 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.
Try our new calculator today
The more details you enter in our new calculator, the more accurate your projected retirement income and balance are likely to be.
For best results, have your financial details on hand - including your super balance with us (and any other super accounts you might have), your income details, your choice of investment plan (available in Member Online) and details of your partner’s income and super, if you have a partner you would like to include in your projections.
We’ll be conducting member research soon - and we’re looking forward to your feedback on our new calculator!
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 18 October 2018.