Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions no longer allow the person to work any more (by illness or accident) or, as a result of legislation concerning their position. In most countries, the idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries. Previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death.
This calculator is designed to help you determine what sort of lifestyle you can expect to have during retirement by estimating your superannuation annuation account balances both before and after retirement. Try experimenting with different figures to see what effect they will have on your retirement lifestyle.