Nursing Careers AustraliaNursing Australia Careers, we recruit, place and support Indian nurses in nursing positions throughout Australia.
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 on 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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