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For Annual Benefit Statements, please visit: Statements - Your statement centre
Life has a habit of changing plans. Maybe you've changed jobs, paid off your mortgage, started helping family members financially, experienced a health change, or simply begun to think differently about how you'd like to spend your time.
That's why it's worth checking in on your retirement goals from time to time. The important thing to remember is that there is no single "right" way to retire. Your retirement should reflect what's important to you.
When your goals change, it's worth reviewing some of the building blocks that can shape your retirement, including:
A simple review can help you understand whether your current approach still supports the lifestyle you're working towards. Retirement planning can be daunting, but it doesn’t have to be. We put together these 5 retirement planning steps to help you get started.
Reviewing your super doesn't necessarily mean making major changes. Often, it's simply about checking whether the decisions you've made in the past still support the life you want in the future
As you move closer to retirement, you may find that strategies that weren't relevant a few years ago now become worth exploring.
For example, if you'd like to reduce your working hours rather than stop work completely, a Transition to Retirement (TTR) strategy may help supplement your income while allowing you to continue building your super.
It's also worth considering whether there are opportunities to boost your retirement savings in your final working years leading up to retirement. Depending on your circumstances, making additional contributions to your super can help increase the amount you have available when you stop working. Keep in mind that contribution limits apply, and exceeding contribution caps may lead to additional tax.
Other changes in your goals may prompt you to review your retirement timeframe, explore different contribution strategies, or rethink the balance between enjoying life today and preparing for tomorrow.
Want to learn more? Read our article on smart ways to grow your super as you approach retirement.
It's easy to think of retirement planning as something you set and forget. But for most people, retirement is a moving target.
Our tools and calculators can help you understand where you're at today and explore the steps you might take towards the retirement lifestyle you're aiming for. If your retirement goals have changed, it can be helpful to understand what those changes might mean for your future.
The Retirement Projector can help you build a clearer picture of your retirement outlook and see how small changes today could make a difference over time.
With the Retirement Projector, you can:
It's a simple way to sense-check whether you're on track for the retirement lifestyle you're aiming for and identify opportunities that may help strengthen your position. Try the Retirement Projector today.
If you'd like more personalised support, a financial adviser can help you navigate your options and develop a plan tailored to your circumstances.
If you're unsure about any aspect of your super, you don't have to work it out alone.
Financial coaching can help you better understand your super and the choices available to you, giving you greater confidence about your retirement journey.
Book a financial coaching appointment today
Because retirement isn’t about sticking to a plan you created years ago. It’s about making sure your plans continue to reflect the life you want to live.
Crunch the numbers to see if your retirement is on track to achieve your goals.
This article has been prepared by NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465 (NULIS) as trustee of the MLC Super Fund ABN 70 732 426 024 (Fund). NULIS is part of the Insignia Financial group of companies comprising Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate (‘Insignia Financial Group’). This information may constitute general advice. The information in this article is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider obtaining independent advice before making any financial decisions based on this information. It is recommended that you consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) before you make any decisions about your superannuation. You can obtain the latest copy of the PDS (or other disclosure documents) and TMD by calling us on 132 652 or by searching for the applicable product at mlc.com.au. You should not rely on this article to determine your personal tax obligations. Please consult a registered tax agent for this purpose. Opinions constitute our judgement at the time of issue. The case study examples (if any) provided in this article have been included for illustrative purposes only and should not be relied upon for decision making. Subject to terms implied by law and which cannot be excluded, neither NULIS nor any member of the Insignia Financial Group accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in the information in this communication.
The Financial Coaches provide financial advice under the Australian Financial Services licence (AFSL) of Actuate Alliance Services Pty Ltd ABN 40 083 233 925 AFSL 240 959 (Actuate). NULIS has appointed Actuate to provide general advice services to members of the Fund. Actuate is part of the Insignia Financial Group. No other entity within Insignia Financial Group, including NULIS or any other entity within the Insignia Financial Group that is a trustee for a regulated superannuation fund, is liable for or responsible for any work, action or advice provided by Actuate. For important information about Actuate’s services which you should know before making a booking, please refer to Actuate’s Website Disclosure Information.
