Why Income Protection should be part of your retirement planning

Try our Retirement Calculator! Just 5 quick questions to answer

Question 1 / 5

My current age is

Question 2 / 5

My current monthly gross salary is

Question 3 / 5

I am expecting the percentage of my salary to increase annually by

Question 4 / 5

The current percentage of my salary that I save towards retirement is

Question 5 / 5

The amount that I have saved so far towards my retirement is

My current age is:
My current monthly gross salary is: R
I am expecting the percentage of my salary to increase annually by: %
The current percentage of my salary that I save towards retirement is: %
The amount that I have saved so far towards my retirement is: R

Your retirement reality

If you plan on retiring at the age of 65 your savings towards retirement will be (X).

Your monthly salary pre-retirement will be (Y) and you will receive (Z)% of your salary post retirement,

until the age of 90.

The numbers above assume inflation of 6% pa, as well as a real investment return of 6% pa, net of fees and tax.

Restart

What if I had
no income for 3 months
due to injury or illness?
75 is the new 65 - you may
have to work longer than
you think

What if I had no income for 3 months due to injury or illness?

You are saving (X)% of your
income every month for retirement

You are in an accident, or fall ill,
and can't work for 3 months

Just 3 months of lost income “cost”
you (R) by the age of 65!

You will either have to live
on (Y)% less income
when you retire

You will have to work for (Z) months
past the retirement age of 65 to make
up for the 3 months loss of income

75 is the new 65 - you may have to work longer than you think

You have just started saving (X)%
of your income every month
towards your retirement

After you retire, you would like an
income of 75% of your
expected earnings.

If you lived to 90 and retired at 65...

You would run out of money by the age of 74 – 16 years before you die, if you lived on 75%.

To stretch your savings to age 90, you could only live on 42% of your required income...

You would need to
work an extra 8 years
and only retire at age 73.

If you lived to 100 and retired at 65...

You would run out of money by the age of 74 – 16 years before you die, if you lived on 75%.

To stretch your savings to age 100, you could only live on 42% of your required income...

You would need to
work an extra 8 years
and only retire at age 73.

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These values are based on our retirement calculator. We have made a number of simplifying
assumptions and ignored the impact of tax for illustrative purposes.
Please consult your financial adviser for any advice regarding your retirement plan.