In brief
Retirement planning looks at how superannuation might support spending later. This is general information. Advice is provided by MGB Financial Services. For a self-managed fund, see SMSF adviser Sydney.
General information. Reviewed 16 October 2026. Rules, caps and benefit tests change. Check the Australian Taxation Office, Moneysmart or Services Australia before you rely on a figure.
Who it's for
People tend to arrive with a date in mind, or with the feeling that the date is closer than the paperwork. A couple in their fifties comparing two super funds. A person who has changed jobs several times and holds more than one account. A household that wants spending in retirement to support more than one person.
Doctors and other private clients often start this thinking later than salaried employees, because training, practice costs and uneven income come first. Family groups ask the same questions for more than one generation. Those readers may also want financial planning for doctors or financial planning for high net worth individuals.
The page is not a calculator result and it is not a target balance. No figure here is a promise of what a person will have, or of how long money will last.
How we help
Superannuation inside a retirement plan
Superannuation is money held in the super system to be used later, under rules set by law. Employer contributions, salary sacrifice and personal contributions that are claimed as a tax deduction generally count towards the concessional cap. For 2026–27 that cap is published at $32,500. Unused cap amounts from earlier years can sometimes be used where the total super balance is under the published limit. Confirm the current figures with the Australian Taxation Office. They change.
Access is also a rule, not a preference. For people born after 30 June 1964, preservation age is 60. Super can generally be accessed once preservation age is reached and the person retires, or from age 65 even if they are still working. Earlier release is limited to specific cases. Source: Australian Taxation Office, noted for this page on 16 October 2026.
Retirement income streams, including account-based pensions and annuities, are ways of drawing on super after a condition of release is met. Minimum drawdown rates are set by law and can change. A projection of income and spending is an illustration. It rests on assumptions about contributions, earnings, fees, tax and how long retirement lasts. If an assumption is wrong, the picture is wrong.
- Concessional and non-concessional caps, checked against the current ATO figures.
- Whether accounts should be described together. Consolidation is a personal decision, made in advice, not on this page.
- Retirement income streams and the minimum drawdown rules that apply to them.
- A budget and cash flow for the years after work changes.
- Centrelink and other government benefits, including the Age Pension tests, where they are relevant. Thresholds are published by Services Australia and are indexed.
What the retirement process looks like
Say what the retirement question is
The first conversation with Vermilion is about the question: a date, a change in work, a household, or super held in more than one place. No recommendation is made in that conversation.
An introduction, if you want advice
If you ask, the enquiry goes to MGB Financial Services. The practice explains the scope and the fees before personal advice is prepared.
Advice in writing, with assumptions shown
Where personal advice is given, it is documented. A projection, if one is included, is labelled as an illustration and the assumptions sit with it. It is not a forecast you can treat as certain.
Review only where it is agreed
Super rules, tax and benefit tests change. A later review happens on a timetable agreed with MGB Financial Services. It is not automatic.
Limits
- Superannuation balances can fall. Markets, fees and contributions all move the balance.
- Caps, tax and the Age Pension tests change, and they do not apply in the same way to every person.
- A projection is only as useful as its assumptions. Living longer, spending more, or earning less than assumed changes the result.
- Drawing income too quickly can exhaust a balance. Drawing too little can leave a person short of spending money. Neither path is settled here.
- Fees for advice are explained by MGB Financial Services before you agree. The Financial Services Guide describes ranges. This page does not quote a fee for you.
Questions
FAQs
What is retirement planning?
Retirement planning is general information, on this page, about how superannuation and other savings might support spending after work slows or stops. It can include retirement income streams, a budget and cash flow, and government benefits where they relate to that plan. Personal advice is provided by MGB Financial Services, in writing, after your circumstances are considered. This page does not tell any person when to retire.
When can I access my superannuation?
Generally once you reach preservation age and retire, or from age 65 even if you are still working. For people born after 30 June 1964, preservation age is 60. Super can be released earlier only in limited cases, such as severe financial hardship or terminal illness. Source: Australian Taxation Office. This is general information, not a statement of what you personally can withdraw.
How much can be contributed to super before tax in 2026–27?
The concessional contributions cap for 2026–27 is published at $32,500. It includes employer contributions, salary sacrifice and personal contributions you claim as a deduction. Unused cap amounts from the previous five years may be carried forward if your total super balance was under the published threshold. Confirm the current cap and threshold with the Australian Taxation Office before acting. This is not a recommendation to contribute.
What is a retirement income stream?
A retirement income stream is a way of drawing on superannuation after a condition of release is met. Account-based pensions and annuities are examples named in the Financial Services Guide. Minimum amounts that must be drawn are set by law and can change. This page does not recommend a product, and it does not name a provider.
How does the Age Pension fit with retirement planning?
Services Australia applies an assets test and an income test. Most assets other than your home are counted, and thresholds differ for singles and couples and for homeowners and non-homeowners. They are indexed. The Financial Services Guide includes Centrelink and other government benefits among the matters MGB Financial Services can advise on. This page does not estimate a pension for any household.
How much does retirement advice cost?
The Financial Services Guide describes initial advice fees in a range from $0 to $22,000, or from 0% to 1.13%, and ongoing fees from $0 to $22,000. The fee for a person is quoted and agreed in writing before advice proceeds. This website does not set that fee. Insurance commissions, where they apply, are disclosed separately and are not a fee quoted on this page.
Does the property calculator show whether I can retire?
No. The property calculator illustrates property figures from assumptions you enter. It is general information, not a retirement plan and not personal advice. Past performance is not a reliable indicator of future performance. A retirement question belongs in advice from MGB Financial Services, if you ask for it.
Who provides the financial advice?
MGB Financial Services Pty Ltd (ABN 71 142 178 185), Authorised Representative No. 428617 of Charter Financial Planning Limited (ABN 35 002 976 294), Australian Financial Services Licensee and Australian Credit Licensee No. 234665. Vermilion introduces clients. Vermilion does not provide the advice.
The advice provider
Credentials of the practice
Financial advice is provided by MGB Financial Services Pty Ltd, Authorised Representative No. 428617 of Charter Financial Planning Limited. The practice gives personal advice only through people who are registered to do so. This website does not name an individual adviser.
You can search the ASIC Financial Advisers Register for the practice and for the people authorised to give personal advice. The Financial Services Guide sets out the services, how the practice is paid, and how to complain.
Complaints can be raised with MGB Financial Services, then with Charter Financial Planning using the details in the Financial Services Guide, and then with the Australian Financial Complaints Authority ( afca.org.au, 1800 931 678).
General advice warning
This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
