TelstraSuper’s Lifetime Income Calculator models ‘income layering’ – investing your super in a combination of account-based pension and lifetime pension to balance your opportunities.
Income layering means you receive both a flexible income with the opportunity to make lump sum withdrawals via your account-based pension, and income for life from a lifetime pension. Depending on your circumstances, a lifetime pension may also increase the amount of Age Pension you are entitled to.
The tool is not the first to model income layering but is the only calculator of this type we are aware of to use a stochastic approach. This means the output is displayed in terms of the percentage chance that you will meet the income goal you have chosen, rather than fixed assumptions your accounts will achieve the same steady return, and your lifetime pension will receive the same indexation percentage, each and every year.
