Account-Based Pension Calculator
Learn how an account-based pension works, then use the official ASIC MoneySmart calculator to estimate how long your retirement savings may last.
What Is an Account-Based Pension?
An account-based pension is one way retirees may receive a regular income from their superannuation once they've met the relevant conditions of release. Your balance stays invested, so it can continue to grow — but it can also fall — while you draw a regular income from it. Key features include:
- Regular income payments, at a frequency you choose
- Flexible withdrawal amounts, subject to the government's minimum annual drawdown rules
- Your balance remains invested according to the options you select
- Your pension balance changes over time based on your withdrawals and investment returns
This page provides general information only — it doesn't recommend whether an account-based pension is right for you, or what withdrawal rate might suit your circumstances. For advice tailored to your situation, book a complimentary review with an Amber Wealth adviser below.
Superannuation
Account-Based Pension
Regular Retirement Income
Remaining Balance Continues to Be Invested
Estimate Your Pension's Longevity
Official ASIC MoneySmart Account-Based Pension Calculator
The calculator allows you to estimate how long an account-based pension may last, how different withdrawal amounts affect your balance over time, the impact of fees, and the effect of your investment return assumptions. Amber Wealth does not own, operate, or control this tool — it is an independent government resource, and the estimate it provides is general in nature and does not constitute personal financial advice.
Launch Official CalculatorProvided by ASIC's MoneySmart website.
General Information Disclaimer. This page provides general educational information only and does not constitute personal financial advice. The Account-Based Pension Calculator is provided by ASIC through the MoneySmart website. Calculator results are estimates based on assumptions and the information entered. Before making financial decisions, consider seeking professional advice that takes your individual circumstances into account.
Understanding the Calculator
Four inputs that shape the estimate the calculator produces.
Starting Balance
The calculator begins with the superannuation amount you transfer into an account-based pension.
Retirement Income
You can enter your preferred annual retirement income to see how it affects your balance over time.
Investment Returns
The calculator uses assumptions about investment returns, which you can adjust to reflect different scenarios.
Fees
Administration and adviser fees can influence your projected balance over the life of the pension.
Key Features of an Account-Based Pension
General features to be aware of — not a recommendation.
Flexible Income Payments
Choose how often you receive payments, within the minimum annual drawdown rules.
Investment Choice
Select from the investment options available within your pension, which continue to grow or contract with markets.
Potential Tax Benefits
Investment earnings and, in many cases, income payments can receive favourable tax treatment once you meet the relevant age and conditions.
Minimum Annual Drawdowns
The government sets a minimum percentage you must withdraw each year, based on your age.
Estate Planning Considerations
Any remaining balance on death is generally paid to your nominated beneficiaries or estate.
Balance May Reduce Over Time
Because you're drawing an income, your balance can reduce over time, particularly if withdrawals exceed investment returns.
Frequently Asked Questions
Need Personal Retirement Advice?
Online calculators provide estimates based on assumptions and the information entered. If you'd like advice tailored to your personal circumstances, Amber Wealth can help you understand your retirement income options.