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Retirement gap calculator

Knowing how much money you’ll need in retirement is a crucial ingredient in your plans

Did you know that while we expect to spend 23 years in retirement, our money is likely to run out after only just ten years1?

This gap – between where your retirement savings are and where you want them to be – is real. Knowing you have a gap is the first step to closing it.

Calculate your retirement gap

Use our retirement gap calculator and in less than five minutes you’ll be able to see if your means support your dreams.


I have a retirement gap – what now?

The good news is that there are steps you can take today to close the gap and ensure you have the retirement you always wanted.

Start by asking yourself these questions:

Have you consolidated your super?

If you have more than one account, you may be paying more than you need to in excess fees which can erode some of your hard earned super savings.

Have you considered extra contributions?

There are a number of easy and tax effective ways to contribute to super.

  • Before-tax contributions – These are contributions from your employer as well as any salary sacrifice into your super, up to a certain limit. From 1 July 2017 you can claim a tax deduction for topping up your super with after-tax contributions, which means you don’t need to rely on your employer to offer salary sacrifice.
  • Post-tax contributions – These are contributions made from your after-tax earnings. Once inside your super, these contributions become tax-free at retirement and any earnings are taxed at a discounted rates. From 1 July 2017 you can claim a tax deduction for topping up your super. Again there are limits  to how much you can contribute.
  • Spouse contributions – There are circumstances where you can contribute to your spouse’s super account, which could reduce your tax, as well as increase your spouse’s retirement savings.
  • Government co-contribution – If your income is at the lower end, the Government can match any super contributions with a co-contribution up to a certain income level.

Have you reviewed your investment options?

The investment options you choose can have a significant impact on the growth of your super. It’s important that you know what you’re invested in and consider if it’s going to help you reach your goals and close the gap.

Use our risk profiling tool to discover your tolerance to investments that may make a difference to your super balance.

View the risk profiling tool

Have you checked your insurance premiums?

Having adequate insurance cover is vital, but it's important to remember that insurance premiums can have an impact on your retirement savings. The good news is it’s simple to know what you are insured for and whether this is enough, or too much.

Find out what you can do to maximise your super

[1] HSBC: The future of retirement – choices for later life, 2015.

  • About investing

Setting investment goals

If you don’t know what your investment goals are, it’s unlikely you’ll achieve them.

  • Insurance in super

Choosing the right cover for you

Make sure you have the right cover for you circumstances so you’re not over or under insured.

  • Financial life goals

Setting up super

Make sure you’re super is set up right now and you’ll be able to enjoy a comfortable retirement later.