Superannuation Calculator
Project your retirement balance. 12% SG rate applies from 1 July 2025.
The numbers above are a starting point. For decisions involving your full financial picture — tax, debt, super, investments — a qualified Australian financial adviser can give tailored guidance.
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How superannuation works in Australia
Superannuation is Australia's compulsory retirement savings system. Your employer is legally required to contribute a percentage of your salary into a super fund on your behalf. From 1 July 2025, that rate is 12% — the highest it has ever been. These contributions are taxed at just 15% inside super, compared to your marginal income tax rate outside it, making super one of the most tax-effective savings structures available.
The power of super comes from compounding — your balance grows on itself over decades. A 25-year-old on $70,000 who does nothing extra will likely retire with more than $500,000. Someone who contributes an additional $200 per month on top of their employer contributions could retire with $200,000–$400,000 more.
You cannot generally access your super until you reach your preservation age (60 if born after 1964) and retire, or turn 65. This makes it a long-term savings vehicle — which is exactly why the tax advantages exist.
- Employer SG rate: 12% of ordinary time earnings from 1 July 2025. Your employer must pay this at least quarterly into your chosen fund.
- Concessional cap: You can contribute up to $30,000 per year in before-tax (concessional) contributions — employer + salary sacrifice combined. Exceeding this cap attracts extra tax.
- Non-concessional cap: After-tax contributions are capped at $120,000 per year. You can bring forward three years into one ($360,000) if your balance is below $500,000.
- Contributions tax: Employer and salary-sacrifice contributions are taxed at 15% inside super. If your income exceeds $250,000, Division 293 tax applies an additional 15% (30% total).
- Investment options: Most funds offer multiple investment options — typically ranging from conservative (bonds/cash) to high growth (shares). The default option is usually balanced, targeting 7–8% per annum over long periods.
- Find your lost super: The ATO holds billions in unclaimed super. Check for lost accounts via myGov → ATO → Super → Manage.
Frequently asked questions
Generally no — super is preserved until you reach preservation age (60 for those born after June 1964) and retire. However, early access is allowed in limited circumstances: severe financial hardship (if you have been on government support for 26 consecutive weeks), compassionate grounds (specific medical, funeral, or mortgage default situations), terminal illness, or permanent incapacity. Early access applications go through the ATO. Withdrawing super early also means losing years of compound growth.
Log in to myGov, link your ATO account, then go to Super → Manage → Find and consolidate super. The ATO holds billions in unclaimed super — it is worth checking. You can consolidate multiple accounts into one to avoid paying multiple sets of fees, though always check whether you lose any insurance cover first.
For most people, yes — especially via salary sacrifice (before-tax contributions). Extra contributions reduce your taxable income and are only taxed at 15% inside super versus your marginal rate (which could be 32% or more). The benefit is greatest for those 10+ years from retirement and earning above $45,000. Use the calculator above — the "extra monthly contributions" field shows exactly how much more you would retire with.
Super is not automatically part of your estate. It is distributed according to your nominated beneficiary, or by the fund trustee if no nomination exists. You should have a binding death benefit nomination (BDBN) in place — this directs the trustee to pay your super to specific people. Without a valid BDBN, the trustee has discretion, which may not match your wishes. Binding nominations typically expire every 3 years and must be renewed.
Salary sacrifice super means asking your employer to redirect some of your pre-tax salary directly into your super fund instead of paying it as income. Because it goes in before income tax, you only pay 15% contributions tax on it — not your marginal rate. For a $90,000 earner, sacrificing $5,000 into super saves approximately $1,400 in income tax. To set it up, speak to your employer's HR or payroll department.