Retirement Income Simulator

Today we released an update that allows for the Budget legislation passed late November. In particular:

  • The reduction in concessional and non-concessional caps to $25,000 and $100,000 respectively
  • The reduction in the threshold for higher contributions tax to $250,000
  • Restricting after-tax (non-concessional) contributions once super balance exceeds $1.6m
  • The re-instatement of the LISC – now called Low Income Superannuation Tax Offset (LISTO)

We have applied these measures from this release (even though they are effective 1 July 2017) as these will be the conditions under which most users will be planning for retirement.

Note the $1.6m transfer balance cap limiting the amount able to be transferred to an account based pension is more complex and will be included in the near future.


Tags: updates budget 2016