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Your Retirement Profile
Your Account Balance
$
YOUR ACCOUNT BALANCE CONSISTS OF:
$
If you take your super today
$
Preserved Amount
(can be accessed at retirement)
$
Non Preserved Amount
Your non preserved component consists of
$
Tax Free Amount
$
Taxable Amount
We Estimate
In {} you will have
Retiring now with
$
{}
of what you need
Providing an income for:
Benefit Estimate Disclaimer
If using this estimate for a withdrawal, please note that in order to calculate your withdrawal amount, we will use the {UnitPriceX} available at the time we process the withdrawal. The {UnitPriceX}s used when paying your withdrawal benefit will be those available at the time of your withdrawal benefit is processed. Payments may take up to five business days to process from when we receive the required withdrawal form. In some circumstances, withdrawals will take longer to process if your withdrawal form is not fully complete or your withdrawal requires additional approval.
The {UnitPriceX}s can change i.e. these can go down or up. This means that if you are making a full withdrawal the total amount you receive may vary from any earlier balance estimate provided. At the time of the withdrawal you may have had other deductions processed to your account balance, such as for tax and fees. The {UnitPriceX}s can be accessed on the public website.
While all reasonable efforts have been made to ensure the information contained in this estimate is correct, the {FundReference} reserves the right to correct any error or omission. You should not enter any commitments based solely on the information contained in this estimate.
If you require further information about your account, please contact the Helpline on {PhoneNumber}.
More Information- Retirement Projections
The estimates of your retirement balance, how much income you may need, and how long it may last, are not guaranteed, they are intended to help you consider whether you are on track to meet your savings goals. Your circumstances may be different to those reflected in the estimate. The estimates do not consider your personal objectives, financial situation (including other sources of income you may have) or needs. You should consider these matters and seek advice from a financial adviser before making any decisions concerning your retirement savings or making other investment decisions.
The figures are based on your current balance, and a number of default assumptions, which you can see by clicking on your Account Balance page. (Although you can alter the default assumptions on your account balance page, the Dashboard figures will not change). Because you are able to make changes to the default assumptions and include details specific to you, this projected balance may vary to that on your annual member statement (if applicable).
We have used the New Zealand Retirement Expenditure Guidelines (“the Guidelines”) published by the Massey Fin Ed Centre to inform the estimate of what income you may need in retirement. The Guidelines estimate the savings required to fund the gap between what you might spend in retirement, and the NZ Super you may receive. The Guidelines do not represent a recommended level of spending in retirement, but reflect actual levels of expenditure in retired households (defined as being where one form of income is from NZ Super, a war pension or other government pension) based on results reported in the Statistics New Zealand’s 2018/19 Household Economic Survey.
Mercer has used the Guidelines’ “Metro” budget (based on data for the Auckland and Wellington Regional Council areas and Christchurch City) and assumed a one-person household, to provide an estimate of a comfortable retirement annual income. We have adopted a position between the “Choices” and No Frills” budget, and used a benchmark of an annual retirement income of $46,000 per annum. For more information on the Guidelines, you can read the complete report which is available under the cost of living in retirement section here.
YOUR ACCOUNT BALANCE CONSISTS OF:
$
If you take your super today
$
Preserved Amount
(can be accessed at retirement)
$
Non Preserved Amount
Your non preserved component consists of
$
Tax Free Amount
$
Taxable Amount
Get the Right Advice
For further information on how your benefits are calculated, please refer to the member booklet on the Documents page or contact {DefinedBenefitHelpline}.
The more you can accurately tell us about your retirement goals, your contributions and your circumstances, the more accurately we can display retirement estimates and insights.