Will your super last the rest of your life?
Over the years, improvements in medicine, diet and exercise mean that in general, Australians are living longer than ever before. Much longer. Consider these facts*:
1) In just the past twenty years, the average life expectancy for men has risen by 6 years, and for women, by 4 years.*
2) At a retirement age of 65, a male can now expect to live until at least 82, and a female to at least 86.^
How much further will these figures rise before you retire?
This means that your retirement may last longer than you expected, and if you want to maintain a reasonable quality of lifestyle, then you’re going to need to get the right level of funding in place during your working life. And that means ensuring you have enough superannuation.
Are you on track?
Use the Calculator to see whether you’re on track to have adequate funding for your retirement.
MTAA Super CalculatorHow you can build up your super
There are several effective ways you can help boost your super savings, over and above the compulsory amounts paid in by your employer. These include:
- Making additional after tax (non concessional) contributions
- Making additional salary sacrifice (concessional contributions)
- Making spouse contributions
- Taking advantage of the Government co-contributions
For more information about these and other options, download the Fact Sheet “Making Extra Contributions” or call us on 1300 362 415 to have one mailed to you.
(*ABS 1301.0 Year Book Australia 2006, ^ABS 3302.0.55.001 Life Tables Australia, 2002-2004)