The Concessional Contribution Estimator has been developed to assist you to manage your concessional contribution cap. This tool provides factual information based on data you have entered and is not guaranteed. This information is not intended to imply any recommendation or opinion about a product. There is a reasonable likelihood of doubt, and figures and assumptions are subject to change.
The information generated by the Concessional Contribution Estimator is an estimate only and has been created based on information entered by you, noting the general assumptions listed below.
In agreeing to use the estimator you understand that it is an estimate only and that any concessional contributions for the period in question will be reported to the Australian Taxation Office (ATO). Where the ATO determines that you have excess concessional contributions, they may require you to remove contributions from your superannuation.
MilitarySuper ABN: 50 925 523 120 RSE: R1000306
Commonwealth Superannuation Corporation (CSC) ABN: 48 882 817 243 AFSL: 238069 RSEL: L0001397
CSC is the Trustee of the Military Superannuation and Benefits Scheme (MilitarySuper)
Don't make changes to your retirement savings arrangements based on information generated by the Estimator. You should consider the appropriateness of the estimate, having regard to your own objectives, financial situation and needs. Before you make changes to your financial arrangements you should get further information or advice. You may wish to consult a licensed financial advisor.
ASIC's MoneySmart website (www.MoneySmart.gov.au) contains general information about superannuation and retirement planning. The MoneySmart website contains a number of superannuation and retirement calculators which members can use to assist them in making further decisions about their superannuation and retirement. The MoneySmart retirement planner lets you personalise your retirement estimate, and shows how you can improve your retirement income.
We also encourage you to visit the MSBS website and access the MSBS iEstimator tool available via Member Services Online (MSO), to assist with your retirement planning.
Assumptions are current for the 2017-18 financial year and are subject to change. They may also be impacted by future changes to legislation.
The default concessional contribution cap assumption is $25,000 pa. This cap is applicable, regardless of age, from 1 July 2017.
You can change any of the assumptions (the default assumptions) that are applied by the calculator in working out the estimate.
In addition to the fields provided to estimate your MSBS defined benefit concessional contribution value, the following values should also be entered by you, to generate a total concessional cap value for the period:
- Any Ordinary Time Earnings (OTE) Top Up contributions, either paid or payable
- Any Salary Sacrifice contributions, either paid or payable to MilitarySuper or another fund
- Any other employer contributions made to another scheme during the period being estimated*
*The estimate will not consider any other superannuation accounts that you may hold unless you specifically input this information into the calculator.
The estimator assumes that no leave without pay greater than 21 days, or that otherwise does not count as service, has been taken in the financial year being estimated.