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Are your
retirement goals
a stretch?
Do you know if there is a gap between how much you’re likely to have in retirement and how much you will need? Use our calculator to find out.
ENTER
ABOUT YOU
INTRODUCTION
EXPECTED RETIREMENT
YOUR RESULTS
NEXT STEPS
IOOF RETIREMENT CALCULATOR - CALCULATING YOUR RETIREMENT TARGET
What's the retirement calculator all about?

The retirement calculator is based on the ASFA Retirement Standard which benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in retirement. However, a comfortable retirement isn’t a luxurious retirement. That’s why we’ve come up with the comfortable plus category for those who want to enjoy some of the finer things in life.

The difference between the comfort levels come down to extra items that are considered to be ‘comforts’, such as updating the kitchen or bathroom, eating out from time-to-time, having top private health insurance, enjoying an occasional domestic or overseas holiday and being able to afford to buy nicer clothes and gifts.

For more information refer to the assumptions at the bottom of this page.

YOUR CURRENT SITUATION
My name is [your name]. I am [your age] years old, and want to retire when I am [age you wish to retire] years old. I earn [your annual salary] per annum before tax and super, and have a super balance of [your super balance]. I contribute [your before tax contribution] before-tax and [your after tax contribution] after-tax per year to my super account. [I will not be taking a career break before retiring].
[I have a partner.]
[I] have [your investment assets] of assets outside my super.
I [want] to include the age pension in the calculations. My investment strategy is [your investment strategy before retirement] before retirement and [your investment strategy in retirement] in retirement.
NAME'S RETIREMENT CALCULATOR
ABOUT YOU
YOUR EXPECTATIONS
YOUR RESULTS
NEXT STEPS
INTRODUCTION
YOUR EXPECTATIONS
Let’s take a few moments to think about how you envisage your retirement
To start click on
Step 1 – ‘The retirement lifestyle you expect to have’
STEP 1
The retirement lifestyle
you expect to have
 
STEP 2
Your results
are you on target
 
STEP 3
Your results
what actions can you take
 
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NAME'S RETIREMENT CALCULATOR
ABOUT YOU
YOUR EXPECTATIONS
YOUR RESULTS
NEXT STEPS
INTRODUCTION
YOUR EXPECTATIONS
For each of the categories below, select the level of comfort you envisage for your home, food, leisure, transport and health care. When you have completed all five categories, click ‘calculate’.
What’s the Lifestyle Retirement Calculator all about?
Your home
Food
Leisure
Transport
Health care
Your Home
Click to select the option that suits you, then complete the next category.
Includes building and contents insurance rates, home improvements, repairs and maintenance, electricity and gas bills, telephone and internet.
Modest
Allows for small home improvements, modest rates and bills and a standard home telephone and internet package.
Comfortable
Allows you to renovate your kitchen or bathroom at some stage, pay the additional costs for the comfort of air conditioning and bundle your home phone and internet at a moderate rate.
Comfortable Plus
Allows you to renovate your home or complete your home’s landscaping, pay the additional costs for the comfort of air conditioning and bundle your home telephone, mobile and internet at the highest rate.
Includes groceries and other food.
Modest
Purchase basic groceries and fresh food from your supermarket each week.
Comfortable
Purchase basic food items and occasionally buy gourmet food and alcoholic beverages.
Comfortable Plus
Purchase basic food items and regularly buy gourmet food and alcoholic beverages.
Includes dinners out, memberships, TV subscriptions, cinema, plays, sport, holidays, clothing, household goods and services, hairdressing and household appliances.
Modest
Allows in-home entertainment including DVDs and books plus local sporting and recreational activities with an occasional camping trip away. Rarely eat out, buy modest clothes and household goods.
Comfortable
Allows for TV subscriptions, sports memberships occasional trips to the cinema/ theatre and occasional domestic holidays away. Eat out from time to time, buy nice clothes and household goods.
Comfortable Plus
Allows you to purchase sporting memberships and specialist sporting gear such as golf clubs and fishing equipment. Go to the cinema/ theatre regularly and the occasional overseas holiday away. Eat out regularly, buy brand name clothes and household goods.
Includes car running costs and public transport.
Modest
Allows you to catch public transport and use country coach or train services for longer distances.
Comfortable
Allows you to purchase a reasonable car that you can efficiently run and maintain.
Comfortable Plus
Allows you to purchase a new car that you can efficiently run and maintain.
Includes health insurance, chemist and medical costs.
Modest
Covers basic level private health insurance and allows you to purchase necessary medicines and pay for doctor’s appointments.
Comfortable
Covers top level private health insurance and allows you to purchase necessary medicines and pay for doctor’s appointments.
Comfortable Plus
Covers top level private health insurance plus optional extras (such as naturopathy services or remedial massage) and allows you to purchase necessary and preventative medicines as well as cover specialist appointments.
CALCULATE
CALCULATE
STEP 2
Please select your comfort level for each of the five categories of Your home, Food, Leisure, Transport and Health care and then click calculate.
 
 
 
 
 
Pension 
Modest 
Comfortable 
Comfortable Plus 
Your Retirement Lifestyle 
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NAME'S RETIREMENT CALCULATOR
ABOUT YOU
YOUR EXPECTATIONS
YOUR RESULTS
NEXT STEPS
RETIREMENT LIFESTYLE
WHAT ACTIONS CAN YOU TAKE
settings
The chart below shows you your projected super account balance against the different retirement lifestyles.
 
 
 
 
 
 
Pension 
Modest 
Comfortable 
Comfortable Plus 
Your Retirement Lifestyle 
YOUR PROJECTED SUPER BALANCE 
STEP 3
Pension 
Modest 
Comfortable 
Comfortable Plus 
Your Retirement Lifestyle 
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NAME'S RETIREMENT CALCULATOR
ABOUT YOU
YOUR EXPECTATIONS
YOUR RESULTS
NEXT STEPS
RETIREMENT LIFESTYLE
WHAT ACTIONS CAN YOU TAKE
You are on track!
 
How long your money will last in retirement
 

Generate report
Pension 
Modest 
Comfortable 
Comfortable Plus 
Your Retirement Lifestyle 
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ABOUT YOU
YOUR EXPECTATIONS
YOUR RESULTS
NEXT STEPS
Your next steps
Visit our website to find out more about saving for your retirement.
www.ioof.com.au/retiregap


Contact us
Super can be confusing so we strongly recommend you speak with your financial adviser before making any decisions about your financial future. If you don’t currently have an adviser, we can certainly recommend a licensed adviser in your local area.

To get in touch with an adviser or for any other queries, please contact our Client Services Team on 1800 333 500 or email employersuper@ioof.com.au
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