In our calculations of the numbers we’ve used in the Ready Reckoner, we made the following assumptions:
- You own your own home
- Includes Commonwealth Age Pension, based on current eligibility rules
- Retirement at age 60
- Super Guarantee payments from your employer: 10.5%
- A 7.6% average return on your super before and after retirement
- Annual fees and insurance premiums: $500 a year
- CPI: 3.5% and Improvement in Living Standards: 1.1%
- Where a couple, both partners are assumed to be the same age, retire at the same time and both pay the same fees on their super/insurance. Both partners earn the same returns on their super before and after retirement.
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