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How SASS deferred members can get the most out of My Retirement Planner
Retire couple laughing

Have you ever looked at the My Retirement Planner tool, but clicked away thinking ‘this isn’t built for someone like me’? That’s understandable. SASS is a unique scheme, but if you have a deferred benefit, My Retirement Planner can still be a useful tool for projecting your income in retirement – and working out whether you’re on track to achieve the lifestyle you’d like. 

My Retirement Planner isn’t built to estimate your SASS benefit itself, but once you know your SASS benefit estimate, you can enter it as a lump sum (or ‘other asset value’) and let the tool run its projections from there. You’ll get an estimate of your likely retirement income – exactly the kind of insight that can help you feel more in control of your retirement planning.

Getting the right number to start with

As a deferred SASS member, you no longer have a defined benefit component to your account, your benefit estimate is effectively your current invested balance. 

Call State Super Customer Service on 1300 130 095 and ask for your deferred retirement benefit (after debts). This is the balance of your SASS deferred account, then you can enter that figure into My Retirement Planner as your lump sum, or ‘other asset value’.

You can also ask about how your money in SASS is invested. SASS deferred members can choose from four investment options for the balance of their deferred lump sum. If you have not made an investment choice and are under age 60, your deferred lump sum will be invested in the Growth strategy. From age 60, the default investment strategy switches to the Balanced strategy. Investment choice is not available for your SANCs account, which includes your basic benefit and any government contributions. This account is invested in the Trustee Selection strategy, which closely aligns with the Growth strategy. 

Walk through the planner

Once you have your benefit estimate ready, you’re set to start. Here’s what to expect at each step. 

Step 1

Enter your basic details – your age, when you’re hoping to retire, and your benefit estimate as your lump sum (or ‘other asset value’). You can also add any other super accounts or assets you’d like to include.

Step 2

Choose the lifestyle that best matches what you’re picturing – whether that’s travel, part-time work, volunteering, or a comfortable, steady routine. This sets the income target the tool uses in its calculations. 

Step 3

If you’re an Aware Super member, you will get a Retirement Confidence Score. The tool generates your personalised Retirement Confidence Score, out of 100. Anything above 75 indicates that, based on the assumptions entered into the tool, your projected retirement income may be aligned with your selected retirement lifestyle.  

If you're not a member, you'll get an estimate of your projected yearly income. You can compare this to your target yearly income based on your selected retirement lifestyle. 

Step 4

This is where you can tweak the variables – your retirement age, contribution levels, or lifestyle goals – to see how each change affects your score. It’s a great way to test a few ‘what ifs’ before making any real changes.

Reading your output 

Once you’ve finished, you’ll receive a Statement of Advice outlining your results. It tells you how long your money is likely to last, based on your projected balance and spending, and your likely retirement income, including any Government Age Pension you may be eligible for. It’s a personalised, realistic picture based on your own numbers and assumptions, making it a great starting point for retirement planning.  

Now that you have those figures 

With an income estimate in hand, you’re in a solid position to start turning those numbers into a plan. Take a look at our SASS-specific retirement guide next – it’s designed to help you make sense of your results and plan your next steps with confidence. 

Where to next?

How much will you need to cover the cost of living in retirement? >  

Changes to super caps and how to make contributions tax effective > 

AI and retirement calculators: what SASS members need to know > 

Ask an expert > 

Market review and outlook > 

Back to Edition 25 > 

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Next steps for deferred members

If you’re a SASS deferred member, knowing your options can help you make sure you have the funds to suit your retirement lifestyle. 
Next steps

General advice only. Consider your objectives, financial situation or needs, which have not been accounted for in this information and read the relevant PDS and TMD before deciding to acquire, or continue to hold, any financial product. Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430), wholly owned by Aware Super. You should read the Financial Services Guide, before deciding about our financial planning services. Issued by Aware Super Pty Ltd (ABN 11 118 202 672, AFSL 293340), trustee of Aware Super (ABN 53 226 460 365)