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Question 1 of 2Halfway there
Are you planning to take a lump sum out when you retire?
Not sure yet is fine— that’s normal at this stage. We’ve started you off here and will show an example with a modest lump sum, so you can see the effect. Change it any time, or just hit Next.
In plain terms
A lump sum is money you take out of your super in one go — say, to pay off a debt, renovate, or take a trip. It’s taken before your pension/accumulation split, so it reduces the pool left to generate your ongoing retirement income. That can bring forward the age your money runs out, so it’s worth factoring in on purpose rather than by accident.