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Defined Benefit Superannuation Calculator

Defined benefit super funds calculate your entitlement using a formula — typically based on your final average salary, years of service, and a multiplier — rather than an accumulated account balance that moves with investment markets. This calculator applies a simplified, generic version of that formula.

$

Often an average of your last few years' salary — check your fund's definition.

years
%

Typical schemes use roughly 15%–20% — check your fund's actual multiplier.

Estimated lump sum entitlement

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Very rough annual pension equivalent

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This is a generic, simplified formula. Your fund's actual defined benefit formula may differ significantly — check your member statement.

Why defined benefit funds are different

Unlike an accumulation fund, where your balance is whatever has accumulated from contributions and investment returns, a defined benefit fund promises a specific benefit calculated by formula, with the fund (often a government or large employer scheme) bearing the investment risk rather than you. Because the exact formula, multiplier, and definition of "final salary" vary enormously between funds — and many defined benefit schemes are now closed to new members — this calculator can only offer a very approximate, illustrative figure.

Always check your fund's actual formula

If you're a member of a defined benefit fund, your annual member statement or fund website will have your specific formula and multiplier, which can differ significantly from the generic assumption used here. For anything beyond a rough curiosity estimate, contact your fund directly or speak with a financial adviser experienced with defined benefit schemes before making retirement decisions.

Want the full picture? Try the main Superannuation Calculator, browse all calculators, or readhow superannuation works.