Retirement planning

Retirement is a time of life for you to relax and do the things you have always wanted to do. Therefore, careful planning can help ensure you are financially comfortable.

Prior to retirement, there are some important questions you need to ask yourself, including:

  •  What do you want to do in retirement?

  •  How much money will you need to do it?

  •  Do you need a regular income?

  •  Where will this income come from?

  •  When can you retire?

  •  How and when will you be able to access your super?

  •  What Government support will you be eligible to receive?

Planning ahead with a suitable retirement solution can assist you in making the most of what you have and help you achieve financial security, reduce uncertainty and enjoy your retirement. Use the Bridges Retirement Lifestyle Calculator – it will show if your retirement savings are on track to meet the retirement lifestyle you want. 

There are many different options available to help fund your retirement. These include taking your super as a cash lump sum and placing it into a retirement savings account, purchasing an income stream product to give you a regular income or a combination of both.

A regular income in retirement - Account-based pensions

An account-based pension is purchased with super monies and provides a flexible, tax-effective, regular retirement income stream. It is not guaranteed, however the payments are flexible and can be any amount over the minimum limits set by the Government. Any capital remaining upon death is distributed to your estate or dependants.


An immediate annuity on the other hand is an investment of a lump sum, usually with a life insurance company, that provides a regular guaranteed income for a specified period. The income will depend on the initial investment, frequency of payments and the prevailing interest rate. The income you receive is generally set at the time of investment and may be indexed.

Each type of income stream has different features. A Bridges financial planner can help you with these changes and your retirement planning by identifying income options that best suit your circumstances and goals.

Is there a gap in your retirement savings? Why not take a look at our retirement gap calculator which can help you compare how much you have and how long it will last, compared to the lifestyle you want. A financial planner can help you identify appropriate strategies to get you on track for a super retirement.

For more information view the Bridges online videos Choose the 'How much super is enough' or 'Retirement income options' to find out more about planning for your retirement.

Bridges Financial Services Pty Limited. ABN 60 003 474 977 ASX Participant. AFSL No. 240837. Part of the IOOF group. This is general advice only and has been prepared without taking into account your particular objectives, financial situation and needs. Before making an investment decision based on this information, you should assess your own circumstances or consult a financial planner. In referring members to Bridges, Horizon Bank does not accept liability or responsibility of any act or omission or advice provided by Bridges or its authorised representatives.