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The fee data underlying the calculations and the calculations is provided by SuperRatings Pty Ltd ABN 95 100 192 283 (SuperRatings) which is a independent research and ratings agency, does not issue, sell, guarantee or underwrite Suncorp Everyday Super. Go to www.superratings.com.au for details of its ratings criteria.
The information provided is general advice only and does not constitute financial advice and does not take into account a person’s objectives, financial situation or needs. Before acting on this information you should consider the appropriateness of this information having regard to your personal objectives, financial situation or needs. A person should consider the appropriateness of the advice and the Suncorp Everyday Super Product Disclosure Statement (PDS), Product Guide and the Financial Services Guide (FSG) before making a decision to acquire a financial product or service. Suncorp Everyday Super is part of Suncorp Master Trust (Fund) (ABN 98 350 952 022, RSE Fund Registration No. R1056655) and is issued by Suncorp Portfolio Services Limited (Trustee), ABN 61 063 427 958, AFSL 237905, RSE Licence No L0002059. The Trustee is a related body corporate of Suncorp Group Limited ABN 66 145 290 124. This product is not a bank deposit or other liability of Suncorp Bank (Suncorp-Metway Limited ABN 66 010 831 722, AFSL 229882) and is subject to investment risk including possible delays in repayment and loss of the interest and principal invested. Suncorp Bank is not liable or responsible for, and does not guarantee or otherwise support the capital value or investment performance of, Suncorp Everyday Super.
The information is a general illustration only. It cannot, and does not try to, predict any particular person’s final retirement benefit. Invested benefits can be affected by sudden changes to your individual circumstances, legislation, investment earnings, tax and inflation. Differences in fees may also change in the future thereby affecting the outcome.
You should not rely on this information when making decisions about a particular superannuation fund or strategy. We recommend you obtain independent professional financial advice specific to your situation from an Australian financial services licensee or one of their representatives before making any financial investment or insurance decision.
Neither Suncorp Bank, the Fund, the Trustee nor SuperRatings is liable for any loss or damage that is incurred by you as a result of relying on this information.
If you have any questions, please call Suncorp on 1800 191 517 between 8am and 6pm (Eastern Standard time) Monday to Friday.
Contribution tax rate is 15%. For taxable income above $300,000 the contributions tax rate increases to 30%.
No allowance has been made for excess contributions tax.
Superannuation Guarantee Contributions
|Year starting on 1 July 2014||9.5|
|Year starting on 1 July 2015||9.5|
|Year starting on 1 July 2016||9.5|
|Year starting on 1 July 2017||9.5|
|Year starting on 1 July 2018||9.5|
|Year starting on 1 July 2019||9.5|
|Year starting on 1 July 2020||9.5|
|Year starting on 1 July 2021||10.0|
|Year starting on 1 July 2022||10.5|
|Year starting on 1 July 2023||11.0|
|Year starting on 1 July 2024||11.5|
|Year starting on or after 1 July 2025||12.0|
$0 salary sacrifice or personal contributions as default.
Assumed as Quarterly in arrears.
Fees to be deducted
- Fees to be deducted include management fees and administration fees indexed to inflation (where applicable).
- There has been no assumption made for exit fees, adviser fees or other charges.
Fund Fee deductions
Assumed deducted at end of each financial year at 30 June.
- The inflation rate is set to 2.5%.
- The ‘wage increase rate’ is currently set to 3.5% per annum.
- Salary sacrifice and personal contributions (if entered) are indexed to inflation.
The assumed earnings rate for all funds is 5.3% after all taxes, which is consistent with the ASIC Money Smart calculator.
No assumptions around deductions for any insurance premiums.
Concessional Contribution Cap age 49 and under
Concessional Contribution Cap age 50 and over
Non-concessional Contribution Cap Year
Information is based on the fund data at 1/05/2016.
- Values are shown in today’s dollars and in AUD.
- That there is continuous working life for the individual with no breaks and no alterations to the funds selected up to the - point of retirement.
- The salary entered remains constant in real terms till retirement.
- Information is in relation to and is limited to accumulation style funds - it is not appropriate for defined benefit funds.
2016 Budget Changes
We recognize a number of announcements were made within the 2016 Federal Budget, which may impact upon contribution caps, contribution tax rates and a number of other assumptions within the model. Until these become law, no changes will be made to the underlying calculations.