Transition to retirement

Transition to retirement planning

Whether you're in the early stages of your career, are approaching retirement or somewhere in between, it's never too early to start planning to secure your financial future.

How much super will you need to retire on?

The amount you'll need depends on your personal circumstances and your retirement goals. For example, if you're single, own your home and maintain a modest lifestyle you'll have different retirement needs to a couple with plans of travel and who take part in many leisure activities. Whatever your future plans are, it's important to start preparing early so you can assess all your options before it's too late. To help you determine your retirement income, the Government's MoneySmart website has a calculator to forecast what your super balance might look like when you retire.

Start contributing more to your retirement

While your employer makes compulsory super contributions, it's also possible for you top up these payments. Find out more about making contributions.

Know when you can access your super

You're able to access your super benefits on retirement (either when you fully or semi retire) when you reach 65 years of age, or at your preservation age, this is dependent on your date of birth:

Date of birth Preservation age
Prior to 1 July 1960  55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964  59
1 July 1964 to present 60 60

Advice that can help you achieve your goals

Aon Hewitt Financial Advice partners with you to realise the full potential of your money, maximise your wealth enabling you to have the retirement you want. We'll also help protect everything that is important to you; family, assets and lifestyle.

Ensure you attain the financial security in retirement that you've spent your working life to achieve.


 
See how Aon Hewitt Financial Advice saved, and made, money for this client approaching retirement.
Strategy to boost contributions to super and potentially improve final retirement savings
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