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Sources, disclaimers and other important information

This article has been prepared by MLC Limited ABN 90 000 000 402 AFSL230694.

This information may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax advice prior to acting on this information. Before acquiring a financial product you should obtain a Product Disclosure Statement (PDS) relating to that product and consider its contents.

In some cases the information in this website has been provided to us by third parties. While it is believed the information is accurate and reliable at the time of publication, this is not guaranteed in any way. Opinions constitute our judgement at the time of publication and are subject to change. Neither MLC Limited, nor any member of the National Australia Bank group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this information.

Information is current as at March 2016

Assumptions and sources referenced within the MLC Save Retirement website:

  1. 1
    This includes the pre-tax super that your employer contributes on your behalf. Your concessional contributions may attract an additional15% tax if you have an income and concessional super contributions of more than $300,000 in one year.
  2. 2
    Roy Morgan, Women and Superannuation Report, 2015
  3. 3
    MLC, Quarterly Australian Wealth Sentiment Survey, Q2 2014
  4. 4
    Australian Institute of Health and Welfare, About Ageing in Australia, 2013
  5. 5
    Australian Bureau of Statistics, Consumer Price Index (CAT No. 6401). Calculations completed by MLC.
  6. 6
    ASFA, ASFA Retirement Standard, September 2015
  7. 7
    MLC MasterKey Investment Protection is only available to MLC MasterKey Super or Pension Fundamentals
  8. 8
    These strategies have been provided in summary form only and have been prepared without taking into account your objectives, financial situation or needs. There are many others issues that would need to be addressed with the help of a suitable financial or taxation adviser before deciding to implement any of these strategies. Before acting on these strategies consider if they are for you having regard to your objectives, financial situation and needs.
  9. 9
    This is known as your ‘preservation age’ and can range from 55 to 60 depending on when you were born. See ato.gov.au to find out more.
  10. 10
    ASFA Retirement Standard 2015; Department of Human Services, payment rates for Age Pension – maximum rate 21 January 2016
  11. 11
    Your personal financial situation will need to be considered.
  12. 12
    MLC MasterKey Investment Protection is only available to MLC MasterKey Super or Pension Fundamentals customers aged over 50 years invested in select portfolios. Please refer to the PDS for more information
  13. 13
    Investment Trends, Investment Trends October 2015 Retirement Income Report. 49% of Australians aged 40-65years anticipate they’ll outlive their retirement by up to 13 years.
  14. 14
    If you have savings of $500,000 at retirement and would like a retirement income of $40,000 annually, then your retirement savings will last about 14 years (assuming investment returns of 2% pa during retirement). If there was a market downturn and your fund at retirement reduced by 5%, you would have $475,000 only as retirement savings and you would need to reduce your retirement income, or your retirement savings would not last as long. With the $475,000 retirement savings, you could have a retirement income of $38,000 only annually for 14 years or a retirement income of $40,000 annually for 13 years only (again assuming investment returns of 2% pa during retirement).
  15. 15
    MLC MasterKey Investment Protection is only available to MLC MasterKey Super or Pension Fundamentals customers aged over 50 years invested in select portfolios. Please refer to the PDS for more information
  16. 16
    Investment Trends, Investment Trends October 2015 Retirement Income Report. 65% expect to rely on a government age pension.
  17. 17
    Rice Warner Actuaries, Australia’s persistent life underinsurance gap, 2015 http://ricewarner.com/australias-persistent-life-underinsurance-gap/
  18. 18
    ‘Family’ in this instance is defined as a couple with two dependent children
  19. 20
    Investment Trends, Investment Trends Investor Product Needs Report, November 2013: One in five people under the age of 40 have not thought about investing in retirement.
  20. 22
    Assumes annual return of 5% pa on investments
  21. 24
    The salary amount you sacrifice may attract an additional 15% tax – this occurs when you have an income and concessional super contributions of more than $300,000 in one year.
  22. 25
    Investment Trends, Investment Trends October 2015 Retirement Income Report.
  23. 26
    MLC MasterKey Investment Protection is only available to MLC MasterKey Super or Pension Fundamentals customers aged over 50 years invested in select portfolios. Please refer to the PDS for more information
  24. 27
    Investment Trends, Investment Trends October 2015 Retirement Income Report.
  25. 28
    ASFA, ASFA Retirement Standard, September 2015
  26. 29
    MLC MasterKey Investment Protection is only available to MLC MasterKey Super or Pension Fundamentals customers aged over 50 years invested in select portfolios. Please refer to the PDS for more information.
  27. 30
    MLC & Ipsos whitepaper, Australia Today: A look at lifestyle, financial security and saving for retirement, Feb 2016
  28. 31
    MLC & Ipsos whitepaper, Australia Today: A look at lifestyle, financial security and saving for retirement, Feb 2016
  29. 32
    MLC & Ipsos whitepaper, Australia Today: A look at lifestyle, financial security and saving for retirement, Feb 2016
  30. 33
    MLC & Ipsos whitepaper, Australia Today: A look at lifestyle, financial security and saving for retirement, Feb 2016
  31. 34
    TNS Research, ‘Investigating the Issue of Underinsurance in Australia’, August 2005
  32. 35
    TAL and FSC Under insurance key facts study 2009
  33. 36
    Wiley, Collie and Smith – The Retirement Plan Solution, 2009
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