Assumptions & Disclaimer

The Welfie Projection calculator ('the calculator') is provided by Picture Wealth (ABN 22 626 204 395 | AFSL 530789).

The purpose of the Calculator is to provide educational insights into how contributions, investment returns, taxation and other factors may impact your superannuation balance and potential retirement income, and to provide a general indication of how you may be tracking for retirement relative to the ASFA Retirement Standard benchmark for a comfortable standard of living.

Do not rely on these estimates to make financial decisions.

The projections are based on a number of assumptions (outlined below) and should not be relied upon to make financial decisions.

The Calculator does not take into account your full personal circumstances, including your current lifestyle expenses, financial commitments (such as debt), dependants, insurance needs, or broader financial objectives.

You should consider your own financial position and requirements before making any financial decisions. You may wish to consult a Picture Wealth Adviser or your own appointed financial adviser before acting on the results.

The Calculator does not independently collect personal information. It utilises information already provided within the Welfie App (such as age, income and superannuation details) to generate projections. All personal information continues to be handled in accordance with the Picture Wealth Privacy Policy.

While reasonable care has been taken in preparing the Calculator, Picture Wealth Advisory Pty Ltd makes no representations as to the accuracy, currency or completeness of the results and accepts no liability for any loss or damage arising from reliance on the Calculator.

Legislation, tax rates, contribution caps and Age Pension rules may change in the future and may affect the projections.

Assumptions

Understand more about how we calculated your retirement income 

General Assumptions 

• Contributions are assumed to be made continuously over the projection period with no breaks.
• Contributions are assumed to be paid annually.
• Salary and contribution amounts are indexed annually in line with the assumed inflation rate.
• The assumed inflation rate is 2.5% per annum (consistent with ASIC default superannuation calculator assumptions).
• Salary and contributions are assumed to increase annually in line with the assumed inflation rate over the projection period.
• Inflation and investment return assumptions are applied consistently throughout the projection period.
• Projected benefits are rounded to the nearest $100 dollar amount. 
• This tool is not suited to members of a defined benefit fund. Please contact a licensed financial adviser for advice. 
• The calculations in this tool make allowance for administration and investment fees as described in the "Fees and Costs" section below. 
• Salary packaging is not being taken into account in this tool. This may impact the eligibility of some government payments that would rely on these types of amounts (for example co-contribution). If you do have salary packaging we suggest you speak to a licensed financial adviser. 
• This calculator does not consider rules relating to the First Home Super Saver Scheme, the Catch-up Contribution Scheme or any 'Downsizer' contribution into superannuation. 
• This calculator assumes that you meet the eligibility requirements to apply for the Age Pension.
  

Current Super Balance

• The Calculator uses your current superannuation balance together with projected before-tax and after-tax contributions to estimate your retirement balance.

Investment Return Assumptions

• Investment returns are assumed to be net of investment fees, indirect costs and taxes.
• The Calculator assumes a lifecycle investment strategy, where the assumed investment return changes as you age to reflect a gradual reduction in risk as retirement approaches. Actual investment returns will differ and may be higher or lower than those assumed.
• Returns (net of investment fees, indirect costs and tax) are assumed as follows:
  • Age up to 50: Growth return assumption of 7% per annum
  • Age 51 to 60: Balanced return assumption of 6% per annum
  • Age 61 onwards: Conservative return assumption of 5% per annum

These are simplified assumptions and may not reflect your actual investment strategy. Actual returns will vary and may be higher or lower than those assumed.

Tax Assumptions

• The Calculator is based on current tax rates and contribution caps at the time of modelling.
• Concessional contributions are assumed to be taxed at 15%.
• Division 293 tax is applied where income exceeds the applicable threshold.
• The Calculator assumes that any concessional contributions above the annual concessional contribution cap are taxed at your marginal tax rate.
• The Calculator does not model release authorities, carry-forward (catch-up) concessional cap amounts, additional excess contributions tax, or refund mechanisms.
• Medicare Levy Surcharge is not specifically modelled.