Retire with Confidence tool

Q: Who should use this tool?

The tool is designed to be used by people aged 60-80, based in Australia who are retired or retiring in the next two years.The results shown are illustrative only projections and do not constitute personal advice.

Q: Results are illustrative only

The results shown are illustrative only projections and do not constitute personal advice. The tool does not relate to any specific financial product and is not intended to be relied upon for the purposes of making a decision in relation to a financial product. We recommend that you consider obtaining financial advice from a financial adviser before making any financial decision. Your adviser can help you to develop your own tailored comprehensive retirement income plan.

Q: You can change the tools assumptions

The tool’s assumptions and limitations can be viewed by scrolling down on any screen, and you can edit assumptions on the Step 3 results screen.

Q: Who is providing this tool?

This tool is provided by Challenger Life Company Limited ABN 44 072 486 938 AFSL 234670 (Challenger Life). To the extent permitted by law, no liability is accepted by Challenger Life for any loss or damage arising, directly or indirectly from using this tool. Personal information collected via the Retire with confidence tool will be handled in accordance with our Privacy Policy. We will retain your contact information, if you agree to receive email communications from us at the end of our retire with confidence tool.

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Answer a few simple questions to kick off your retirement income planning.

Estimate how long your super savings will last, estimate how long your retirement income might last, and discover your Age Pension eligibility all in one place.

Over the past 40 years, we've grown to become Australia's largest annuity provider delivering experience you can trust. To help Australians understand how to estimate their future income we’ve built a retirement income calculator . It provides insights into superannuation, Age Pension eligibility, and retirement income. The tool aims to help you understand how to building a retirement income plan which may provide you with greater financial confidence in retirement.

How to use the tool

Using our Retire with Confidence tool is simple and user-friendly. Follow these three steps to start planning for your financial future with confidence:

1. Enter your details

Provide inputs like your gender, age, relationship status and superannuation balance. These details help the tool create projections.

2. Review projections

The tool calculates your estimated retirement income, potential income gaps, and Age Pension eligibility. It can give you an overview of how your superannuation and savings might support your retirement planning goals.

3. Receive your results and explore income options

After completing the tool, you’ll be shown an overview of your projections and then will receive our Challenger Guide to Retirement Income via email, if you agree to receive email communications from us at the end of our Retire with Confidence tool.

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With just a few steps, you gain actionable insights to simplify your retirement planning giving you peace of mind.

What does the Retire with Confidence tool do?

Challenger’s Retire with Confidence tool is a retirement savings calculator that helps you to estimate:

How long your super savings might last given your desired level of spending in retirement
Any Age Pension support you may be eligible for
The impact of including a lifetime income stream to your retirement income planning.

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Who should use this tool?

Results are illustrative only

You can change the tools assumptions

Who is providing this tool?

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FAQs

How long could my super savings last?

How long your super savings will last you in retirement is dependent on a few points such as:

How much you’ll spend in retirement
Are you eligible to receive any Age Pension payments to supplement your superannuation savings
Will you have additional income from your investments to supplement your super savings

How can I estimate my Age Pension eligibility?

In Australia you must be at least 67 years old and have lived in Australia for 10 years, with at least 5 years being continuous.

Government Age Pension in Australia is means tested. There are two main criteria considered in determining how much Age Pension (if any) you are eligible:

What the value of your assets are, and
The value of your total income.

What are some of the main sources of retirement income?

Understanding where your retirement income comes from is vital for effective retirement planning. Key sources include:

Superannuation: The main source of most people’s retirement income, providing a regular stream of payments from your super savings.
Age Pension: Government support that offers additional financial assistance, depending on your eligibility.
Lifetime income streams: Lifetime income streams such as lifetime annuities provide income for life, helping to ensure ongoing financial security throughout retirement.

How can I plan for longevity and risk?

Longevity risk is the risk that your retirement savings may not last as long as you do. To understand how to help mitigate this risk it’s a good idea to understand your life expectancy and plan ahead. Our Retire with Confidence tool can help you learn how to better craft a retirement income plan that accounts for life expectancy. By helping you estimate your future income like a retirement savings calculator, it uses your age, savings, assets, and expenses to provide a financial roadmap. By understanding more about longevity and financial risks, it can help to provide a more resilient path to achieving your ideal retirement.

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Your next steps after using the Retire with Confidence tool

After using our Retire with Confidence tool you might like to continue your research by:

Download guide

Read the guide we send you after you complete the tool for more tips and information.

Planning your income

Visit our web page for information on your retirement pay cheque and planning your retirement income.

Seek advice

Getting advice from a Financial Adviser can be helpful. Challenger can help you find an adviser.

Find an adviser