What are other members asking?

With a complicated subject like super it can sometimes be tricky to know where to start. These are some of the more common questions members ask when they meet with us. It might be a great place to start your journey to learn more about your own super and your options.

How much will I have in retirement?
How do I get ready for retirement?
How can I put more into super?
How much do I need in retirement?
Do I have insurance in my super?

There are 2 super-easy calculators on our website:

  1. A detailed projector lets you choose variables to see a picture of your balance at retirement. This calculator lets you try out different retirement income levels to see what a difference taking more or less each year could make, what difference retiring earlier or later could make, or what difference the age pension could make.
  2. A quick ready reckoner shows you how you are tracking towards what is known as a ‘comfortable retirement’. It lets you know if you’re on the right path to achieve the ASFA standard of $595,000 at retirement at age 67 (for a single homeowning person).

Knowing what you’ll have at retirement is only half the picture. You need to know what that final balance will mean as a regular income once you have stopped work.

If you’re not sure how much you’ll actually want to spend in retirement, there are some helpful resources below.

Now, what’s your next step?

Try our calculators:

Read our other member question:

  • What do I need in retirement and what can I do?

Watch our video:

Read our quick article:

Read about the ASFA Retirement Standard:

Visit this webpage:

There are 2 main areas to consider when thinking about retirement: how you’ll spend your time and how you’ll spend your money.

We’ve got lots of tips online to help you prepare socially and mentally for retirement. Some people move into retirement easily and for others, it can be a stressful transition. Being aware of this and being prepared can help you migrate into your new life.

When it comes to your money, you have some important choices to make. The earlier you start thinking about retirement, the longer you have to plan and make the best decisions for you:

The easiest thing to do is book a time to meet with our Member Services team. It’s totally free and we can meet you at your workplace, over the phone or video conference, or you’re welcome to come into our Adelaide office. Make a time that suits you using the online calendar.

3-5 years from retirement:

Check your super – is it on track? Does it need a boost? Do you have any lost super? Have you nominated a beneficiary?

Check your general finances – do you have debts to pay down? Do you have money that could be working hard for you?

Speak to your partner so you’re on the same page.

1 year from retirement

Think about your leave entitlements – speak to HR to check what you’re entitled to

Consider your finances – will you need to set up an income stream immediately with your super money at retirement or do you have other income to live off? Speaking to us will help you understand all your options.

Start making plans for your leisure time. Think about how you’ll spend your days.

3 months from retirement

It could be time to start taking action with your money, getting ready to implement your retirement plans.

1 month from retirement

Meet with us to make sure all your paperwork is ready so your income can continue seamlessly when you retire.

Let your friends and colleagues know and give them your new non-work contact details.

Now, what’s your next step?

Watch our videos:

Read our booklets:

Read our articles:

Visit this webpage:


  1. Make sure your employer has your ElectricSuper details. Any employer in Australia can contribute to ElectricSuper for you, even if they’re not in the electricity business.
  2. Check your other super. If there’s no good reason to keep the other account (such as insurance you want to keep), consider rolling your other super into ElectricSuper. It’s easy using your myGov account.
  3. Then there are several options available to get even more money into super, depending on your circumstances, age and goals. You can set up regular contributions through your payroll or make ad hoc contributions. Annual limits apply on the amounts you can contribute in different ways. Our Contributions page has more details.
Regular salary sacrifice contributions

These are contributions that your employer holds back from your salary and puts to your super before calculating your income tax on the salary you receive in your pocket.

To get started, use:

Vary Your Contributions form

Post-tax contributions

These are contributions that go into your super from money you’ve generally already paid income tax on.

To get started, use:

Vary Your Contributions form for regular payroll

Make a Lump Sum Contribution form for ad hoc bank transfers

Other contributions

There are other options which you may be able to take advantage of. Depending on your age and situation, things like spouse contributions, contribution splitting with your spouse, recontributions and downsizer contributions from the sale of your house are options that may be available.

See our Contribution page or our Preparing for Retirement booklet for more information



Now, what’s your next step?

Watch our videos:

Read our quick articles:

Visit these webpages:


To get an idea of what you’ll need as income in retirement, think about what you spend now. It could be as simple as your annual salary, less tax, less super contributions.

Or perhaps you need to think about your budget in a bit more detail.

You could look at what you spend each week now and take off the expenses that will stop when you retire (such as the cost of your daily commute) and add on new costs (such as the cost of taking up a new hobby, or going out for more coffee and cake).

The ASFA Standard Budget is a good starting point to get you thinking about how much you might spend in different areas each week. Of course, it’s only a starting point. You might want to spend much more than the budget suggests in some areas.

Once you have an idea of what you’d like to spend in retirement, it’s a matter of working back to find out if your super balance at retirement will be enough to give you the lifestyle that you want.

Use our Retirement Projection Calculator and input a few current details, such as your age and salary, then set your target retirement income and see if your current trajectory will get you where you want to be at retirement.

For example, you might be a single person who owns their home, looking to retire at 65 with an annual retirement income of $70,000. In that case, you could need a super balance well above the ASFA Retirement Standard at retirement.

If your current path doesn’t look like it’s going to get you where you want to be in retirement, you have lots of options. You can think about whether you’re in the right investment option to achieve your goals. Changing investment options is quick and easy.

You can think about how you’ll keep your super balance growing if you take a break from work.

And you can put extra money into your super. The earlier you start, the longer your money will have to multiply and grow.

Now, what’s your next step?

Try our calculators:

Book a meeting with us

Watch our videos:

Read our booklet:

Read our articles:

Visit this webpage:


Most Division 5 Accumulation ElectricSuper members have Death/Total and Permanent Disablement insurance and Disability Income Benefit (Income Protection) insurance automatically as part of their super. If you joined ElectricSuper within 120 days of starting employment with your participating employer, you will be auto-accepted for default insurance cover (if you are under 60 years old).

Active Accumulation members under 60 have options for death and total and permanent disablement cover and are likely to have this cover provided by default. Retained Accumulation members under 60 also may have these insurances continue when they become a retained member, or may opt to continue their cover. Spouse members have the option to apply for death and total and permanent disablement cover.

There are some exceptions that apply – not all members automatically receive insurance. You should check your account in the online member portal to see what insurance cover you have.

If you want more information about the conditions and details of insurance in the Accumulation Scheme, see our web pages (details below).

Members of the other Divisions also have insurance offered as part of their benefits. You can read more about the types of cover offered in the Member Booklets for these other divisions.

If you have the default level of insurance cover, it may not be enough to meet your needs. You need to look at your own situation and consider if the cover is enough for you. If you aren’t sure, you can use the moneysmart.gov.au insurance calculator as a start to work out the level of Death cover that may suit you.

You also have the option to increase your cover on significant life events without having to provide additional health information. This can make ensuring you have enough cover so much simpler. Significant life events include things such as turning 30, turning 50, getting married, buying a home or having a child.

As part of considering your insurance, it could be a good idea to think about who would receive your super and any insurance payout if you die. It may not automatically be paid to your spouse or estate. By nominating your preferred beneficiary or beneficiaries now, the Board will know your wishes and be able to pay your super to the right person if you pass away.

Now, what’s your next step?

Use the moneysmart life insurance calculator

Read our quick article:

Visit these webpages:

Watch our video:


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