How much will I be worth when I retire?
Employers in Australia are required to contribute 9% of gross salary.
- the table below demonstrates how much this will be worth at retirement
- Assumptions are based onĀ the last 5 years of invested superannuation funds
- Employees can contribute additional funds.
- Interest earned on these funds are tax free
- A nurse who is 25-35 years of age is likely to retire with over half a million dollars
Accumulated Earnings of Retirement Fund
Annual Salary |
% of Wage Paid by Employer |
Value of Fund at Retirement |
Years Left To Retirement |
15 years |
20 years |
25 years |
$A 55,000 |
9% |
$161,718 |
$250,542 |
$372,962 |
$A 65,000 |
9% |
$182,406 |
$284,433 |
$425,166 |
$A 75,000 |
9% |
$203,095 |
$318,324 |
$477,371 |
The Assumptions
- 2% inflation
- Investment returns of 6%
- Base of $20,000 already in super
- Assumes 15% contributions tax
- Assumes salary fixed
- Employer contributes all 9%
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