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MOBILE APP TERMS AND CONDITIONS OF USE

About the Application

Welcome to eairwoman (the 'Application'). The Application Retirement and Savings

Budget Calculator (the 'Services').

The Application is operated by Diamond Age Technologies Pty Ltd PTY. LTD. (ABN 64

089 887 918) . Access to and use of the Application, or any of its associated Products or

Services, is provided by Diamond Age Technologies Pty Ltd. Please read these terms

and conditions (the 'Terms') carefully. By using, browsing and/or reading the Application,

this signifies that you have read, understood and agree to be bound by the Terms. If you

do not agree with the Terms, you must cease usage of the Application, or any of its

Services, immediately.

Diamond Age Technologies Pty Ltd reserves the right to review and change any of the

Terms by updating this page at its sole discretion. When Diamond Age Technologies Pty

Ltd updates the Terms, it will use reasonable endeavours to provide you with notice of

updates to the Terms. Any changes to the Terms take immediate effect from the date of

their publication. Before you continue, we recommend you keep a copy of the Terms for

your records.

Acceptance of the Terms

You accept the Terms by using or browsing the Application. You may also accept the Terms by

clicking to accept or agree to the Terms where this option is made available to you by Diamond

Age Technologies Pty Ltd in the user interface.

Subscription to use the Services

In order to access the Services, you must first purchase a subscription through the

Application (the 'Subscription') and pay the applicable fee for the selected Subscription

(the 'Subscription Fee').

In purchasing the Subscription, you acknowledge and agree that it is your responsibility

to ensure that the Subscription you elect to purchase is suitable for your use.

Once you have purchased the Subscription, you will then be required to register for an

account through the Application before you can access the Services (the 'Account').

As part of the registration process, or as part of your continued use of the Services, you

may be required to provide personal information about yourself (such as identification or

contact details), including:

Email address

Gender, Date of Birth, other financial information including expected retirement

age

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You warrant that any information you give to Diamond Age Technologies Pty Ltd in the

course of completing the registration process will always be accurate, correct and up to

date.

Once you have completed the registration process, you will be a registered member of

the Application ('Member') and agree to be bound by the Terms. As a Member you will

be granted immediate access to the Services from the time you have completed the

registration process until the subscription period expires (the 'Subscription Period').

You may not use the Services and may not accept the Terms if:

you are not of legal age to form a binding contract with Diamond Age

Technologies Pty Ltd; or

you are a person barred from receiving the Services under the laws of Australia or

other countries including the country in which you are resident or from which you

use the Services.

Your obligations as a Member

As a Member, you agree to comply with the following:

you will use the Services only for purposes that are permitted by:

the Terms; and

any applicable law, regulation or generally accepted practices or

guidelines in the relevant jurisdictions;

you have the sole responsibility for protecting the confidentiality of your password

and/or email address. Use of your password by any other person may result in

the immediate cancellation of the Services;

any use of your registration information by any other person, or third parties, is

strictly prohibited. You agree to immediately notify Diamond Age Technologies Pty

Ltd of any unauthorised use of your password or email address or any breach of

security of which you have become aware;

access and use of the Application is limited, non-transferable and allows for the

sole use of the Application by you for the purposes of Diamond Age Technologies

Pty Ltd providing the Services;

you will not use the Services or the Application in connection with any commercial

endeavours except those that are specifically endorsed or approved by the

management of Diamond Age Technologies Pty Ltd;

you will not use the Services or Application for any illegal and/or unauthorised use

which includes collecting email addresses of Members by electronic or other

means for the purpose of sending unsolicited email or unauthorised framing of or

linking to the Application;

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you agree that commercial advertisements, affiliate links, and other forms of

solicitation may be removed from the Application without notice and may result in

termination of the Services. Appropriate legal action will be taken by Diamond

Age Technologies Pty Ltd for any illegal or unauthorised use of the Application;

and

you acknowledge and agree that any automated use of the Application or its

Services is prohibited.

Payment

Where the option is given to you, you may make payment of the Subscription Fee by way

of:

Credit Card Payment ('Credit Card')

Apple App Store (' Apple App Store ')

All payments made in the course of your use of the Services are made using Apple App

Store. In using the Application, the Services or when making any payment in relation to

your use of the Services, you warrant that you have read, understood and agree to be

bound by the Apple App Store terms and conditions which are available on their

Application.

You acknowledge and agree that where a request for the payment of the Subscription

Fee is returned or denied, for whatever reason, by your financial institution or is unpaid

by you for any other reason, then you are liable for any costs, including banking fees and

charges, associated with the Subscription Fee.

You agree and acknowledge that Diamond Age Technologies Pty Ltd can vary the

Subscription Fee at any time and that the varied Subscription Fee will come into effect

following the conclusion of the existing Subscription Period.

Refund Policy

Diamond Age Technologies Pty Ltd will only provide you with a refund of the Subscription Fee

in the event they are unable to continue to provide the Services or if the manager of Diamond

Age Technologies Pty Ltd makes a decision, at its absolute discretion, that it is reasonable to do

so under the circumstances . Where this occurs, the refund will be in the proportional amount of

the Subscription Fee that remains unused by the Member (the 'Refund').

Copyright and Intellectual Property

The Application, the Services and all of the related products of Diamond Age

Technologies Pty Ltd are subject to copyright. The material on the Application is

protected by copyright under the laws of Australia and through international treaties.

Unless otherwise indicated, all rights (including copyright) in the Services and

compilation of the Application (including but not limited to text, graphics, logos, button

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icons, video images, audio clips, Application, code, scripts, design elements and

interactive features) or the Services are owned or controlled for these purposes, and are

reserved by Diamond Age Technologies Pty Ltd or its contributors.

All trademarks, service marks and trade names are owned, registered and/or licensed by

Diamond Age Technologies Pty Ltd, who grants to you a worldwide, non-exclusive,

royalty-free, revocable license whilst you are a Member to:

use the Application pursuant to the Terms;

copy and store the Application and the material contained in the Application in

your device's cache memory; and

print pages from the Application for your own personal and non-commercial use.

Diamond Age Technologies Pty Ltd does not grant you any other rights whatsoever in

relation to the Application or the Services. All other rights are expressly reserved by

Diamond Age Technologies Pty Ltd.

Diamond Age Technologies Pty Ltd retains all rights, title and interest in and to the

Application and all related Services. Nothing you do on or in relation to the Application

will transfer any:

business name, trading name, domain name, trade mark, industrial design,

patent, registered design or copyright, or

a right to use or exploit a business name, trading name, domain name, trade

mark or industrial design, or

a thing, system or process that is the subject of a patent, registered design or

to you.

You may not, without the prior written permission of Diamond Age Technologies Pty Ltd

and the permission of any other relevant rights owners: broadcast, republish, upload to a

third party, transmit, post, distribute, show or play in public, adapt or change in any way

the Services or third party Services for any purpose, unless otherwise provided by these

Terms. This prohibition does not extend to materials on the Application, which are freely

available for re-use or are in the public domain.

Privacy

Diamond Age Technologies Pty Ltd takes your privacy seriously and any information provided

through your use of the Application and/or Services are subject to Diamond Age Technologies

Pty Ltd's Privacy Policy, which is available on the Application.

General Disclaimer

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Nothing in the Terms limits or excludes any guarantees, warranties, representations or

conditions implied or imposed by law, including the Australian Consumer Law (or any

liability under them) which by law may not be limited or excluded.

Subject to this clause, and to the extent permitted by law:

all terms, guarantees, warranties, representations or conditions which are not

expressly stated in the Terms are excluded; and

Diamond Age Technologies Pty Ltd will not be liable for any special, indirect or

consequential loss or damage (unless such loss or damage is reasonably

foreseeable resulting from our failure to meet an applicable Consumer

Guarantee), loss of profit or opportunity, or damage to goodwill arising out of or in

connection with the Services or these Terms (including as a result of not being

able to use the Services or the late supply of the Services), whether at common

law, under contract, tort (including negligence), in equity, pursuant to statute or

otherwise.

Use of the Application and the Services is at your own risk. Everything on the Application

and the Services is provided to you "as is" and "as available" without warranty or

condition of any kind. None of the affiliates, directors, officers, employees, agents,

contributors and licensors of Diamond Age Technologies Pty Ltd make any express or

implied representation or warranty about the Services or any products or Services

(including the products or Services of Diamond Age Technologies Pty Ltd) referred to on

the Application. This includes (but is not restricted to) loss or damage you might suffer as

a result of any of the following:

failure of performance, error, omission, interruption, deletion, defect, failure to

correct defects, delay in operation or transmission, computer virus or other

harmful component, loss of data, communication line failure, unlawful third party

conduct, or theft, destruction, alteration or unauthorised access to records;

the accuracy, suitability or currency of any information on the Application, the

Services, or any of its Services related products (including third party material and

advertisements on the Application);

costs incurred as a result of you using the Application, the Services or any of the

products of Diamond Age Technologies Pty Ltd; and

the Services or operation in respect to links which are provided for your

convenience.

Competitors

If you are in the business of providing similar Services for the purpose of providing them to

users for a commercial gain, whether business users or domestic users, then you are a

competitor of Diamond Age Technologies Pty Ltd. Competitors are not permitted to use or

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access any information or content on our Application. If you breach this provision, Diamond Age

Technologies Pty Ltd will hold you fully responsible for any loss that we may sustain and hold

you accountable for all profits that you might make from such a breach.

Limitation of liability

Diamond Age Technologies Pty Ltd's total liability arising out of or in connection with the

content or these Terms, however arising, including under contract, tort (including

negligence), in equity, under statute or otherwise, will not exceed the resupply of the

content to you or the refund of your most recently paid subscription fee to you at our sole

discretion.

You expressly understand and agree that Diamond Age Technologies Pty Ltd, its

affiliates, employees, agents, contributors and licensors shall not be liable to you for any

direct, indirect, incidental, special consequential or exemplary damages which may be

incurred by you, however caused and under any theory of liability. This shall include, but

is not limited to, any loss of profit (whether incurred directly or indirectly), any loss of

goodwill or business reputation and any other intangible loss.

Termination of Contract

The Terms will continue to apply until terminated by either you or by Diamond Age

Technologies Pty Ltd as set out below.

Diamond Age Technologies Pty Ltd may at any time, terminate the Terms with you if:

you have breached any provision of the Terms or intend to breach any provision;

Diamond Age Technologies Pty Ltd is required to do so by law;

the provision of the Services to you by Diamond Age Technologies Pty Ltd is, in

the opinion of Diamond Age Technologies Pty Ltd, no longer commercially viable.

Subject to local applicable laws, Diamond Age Technologies Pty Ltd reserves the right to

discontinue or cancel your membership at any time and may suspend or deny, in its sole

discretion, your access to all or any portion of the Application or the Services without

notice if you breach any provision of the Terms or any applicable law or if your conduct

impacts Diamond Age Technologies Pty Ltd's name or reputation or violates the rights of

those of another party.

Indemnity

You agree to indemnify Diamond Age Technologies Pty Ltd, its affiliates, employees,

agents, contributors, third party content providers and licensors from and against:

all actions, suits, claims, demands, liabilities, costs, expenses, loss and damage

(including legal fees on a full indemnity basis) incurred, suffered or arising out of

or in connection with Your Content;

any direct or indirect consequences of you accessing, using or transacting on the

Application or attempts to do so; and/or

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any breach of the Terms.

Dispute Resolution

Compulsory:

If a dispute arises out of or relates to the Terms, either party may not commence any

Tribunal or Court proceedings in relation to the dispute, unless the following clauses have

been complied with (except where urgent interlocutory relief is sought).

Notice:

A party to the Terms claiming a dispute ('Dispute') has arisen under the Terms, must give

written notice to the other party detailing the nature of the dispute, the desired outcome

and the action required to settle the Dispute.

Resolution:

On receipt of that notice ('Notice') by that other party, the parties to the Terms ('Parties')

must:

Within 30 days of the Notice endeavour in good faith to resolve the Dispute

expeditiously by negotiation or such other means upon which they may mutually

agree;

If for any reason whatsoever, 30 days after the date of the Notice, the Dispute has

not been resolved, the Parties must either agree upon selection of a mediator or

request that an appropriate mediator be appointed by the President of the Dispute

Settlement Centre of Victoria (disputes.vic.gov.au) or his or her nominee;

The Parties are equally liable for the fees and reasonable expenses of a mediator

and the cost of the venue of the mediation and without limiting the foregoing

undertake to pay any amounts requested by the mediator as a pre-condition to

the mediation commencing. The Parties must each pay their own costs

associated with the mediation;

The mediation will be held in Victoria, Australia.

Confidential

All communications concerning negotiations made by the Parties arising out of and in

connection with this dispute resolution clause are confidential and to the extent possible,

must be treated as "without prejudice" negotiations for the purpose of applicable laws of

evidence.

Termination of Mediation:

If 30 days have elapsed after the start of a mediation of the Dispute and the Dispute has

not been resolved, either Party may ask the mediator to terminate the mediation and the

mediator must do so.

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Venue and Jurisdiction

The Services offered by Diamond Age Technologies Pty Ltd is intended to be viewed by

residents of Australia. In the event of any dispute arising out of or in relation to the Application,

you agree that the exclusive venue for resolving any dispute shall be in the courts of Victoria,

Australia.

Governing Law

The Terms are governed by the laws of Victoria, Australia. Any dispute, controversy, proceeding

or claim of whatever nature arising out of or in any way relating to the Terms and the rights

created hereby shall be governed, interpreted and construed by, under and pursuant to the laws

of Victoria, Australia, without reference to conflict of law principles, notwithstanding mandatory

rules. The validity of this governing law clause is not contested. The Terms shall be binding to

the benefit of the parties hereto and their successors and assigns.

Independent Legal Advice

Both parties confirm and declare that the provisions of the Terms are fair and reasonable and

both parties having taken the opportunity to obtain independent legal advice and declare the

Terms are not against public policy on the grounds of inequality or bargaining power or general

grounds of restraint of trade.

Severance

If any part of these Terms is found to be void or unenforceable by a Court of competent

jurisdiction, that part shall be severed and the rest of the Terms shall remain in force.

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APPLICATION PRIVACY POLICY

Diamond Age Technologies Pty Ltd

We respect your privacy

Diamond Age Technologies Pty Ltd respects your right to privacy and is committed to

safeguarding the privacy of our customers and software application users. We adhere to

the National Privacy Principles established by the Privacy Act 1988 (Cth). This policy sets

out how we collect and treat your personal information.

"Personal information" is information we hold which is identifiable as being about you.

Collection of personal information

Diamond Age Technologies Pty Ltd will, from time to time, receive and store personal

information you enter onto our software application eairwoman, provide to us directly or

give to us in other forms.

You may provide basic information such as your name, phone number, address and email

address to enable us to send information, provide updates and process your product or

service order. We may collect additional information at other times, including but not limited

to, when you provide feedback, when you provide information about your personal or

business affairs, change your content or email preference, respond to surveys and/or

promotions, provide financial or credit card information, or communicate with our customer

support.

Additionally, we may also collect any other information you provide while interacting with

us.

How we collect your personal information

Diamond Age Technologies Pty Ltd collects personal information from you in a variety of

ways, including when you interact with us electronically or in person, when you access our

software application and when we provide our services to you. We may receive personal

information from third parties. If we do, we will protect it as set out in this Privacy Policy.

Use of your personal information

Diamond Age Technologies Pty Ltd may use personal information collected from you to

provide you with information, updates and our services. We may also make you aware of

new and additional products, services and opportunities available to you. We may use your

personal information to improve our products and services and better understand your

needs.

The Application may make third party social media features available to its users. We

cannot ensure the security of any information you choose to make public in a social media

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feature. Also, we cannot ensure that parties who have access to such publicly available

information will respect your privacy.

Diamond Age Technologies Pty Ltd may contact you by a variety of measures including,

but not limited to telephone, email, sms or mail.

We reserve all rights to use your data by anonymising and de-identifying your data for the

purpose of producing benchmark reports which may be sold to third parties or shared

within the app to all other app users. At no time will information which is personally

identifiable be shared with any person or any party for this or any other purpose.

Disclosure of your personal information

We may disclose your personal information to any of our employees, officers, insurers,

professional advisers, agents, suppliers or subcontractors insofar as reasonably necessary

for the purposes set out in this Policy. Personal information is only supplied to a third party

when it is required for the delivery of our services.

We may from time to time need to disclose personal information to comply with a legal

requirement, such as a law, regulation, court order, subpoena, warrant, in the course of a

legal proceeding or in response to a law enforcement agency request.

We may also use your personal information to protect the copyright, trademarks, legal

rights, property or safety of Diamond Age Technologies Pty Ltd, its application, website

and customers or third parties.

Information that we collect may from time to time be stored, processed in or transferred

between parties located in countries outside of Australia.

If there is a change of control in our business or a sale or transfer of business assets, we

reserve the right to transfer to the extent permissible at law our user databases, together

with any personal information and non-personal information contained in those databases.

This information may be disclosed to a potential purchaser under an agreement to

maintain confidentiality. We would seek to only disclose information in good faith and

where required by any of the above circumstances.

By providing us with personal information, you consent to the terms of this Privacy Policy

and the types of disclosure covered by this Policy. Where we disclose your personal

information to third parties, we will request that the third party follow this Policy regarding

handling your personal information.

Security of your personal information

Diamond Age Technologies Pty Ltd is committed to ensuring that the information you

provide to us is secure. In order to prevent unauthorised access or disclosure, we have put

in place suitable physical, electronic and managerial procedures to safeguard and secure

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information and protect it from misuse, interference, loss and unauthorised access,

modification and disclosure.

The transmission and exchange of information is carried out at your own risk. We cannot

guarantee the security of any information that you transmit to us, or receive from us.

Although we take measures to safeguard against unauthorised disclosures of information,

we cannot assure you that personal information that we collect will not be disclosed in a

manner that is inconsistent with this Privacy Policy.

Access to your personal information

You may request details of personal information that we hold about you in accordance with

the provisions of the Privacy Act 1988(Cth). A small administrative fee may be payable for

the provision of information. If you would like a copy of the information which we hold

about you or believe that any information we hold on you is inaccurate, out of date,

incomplete, irrelevant or misleading, please email us at privacy@eairwoman.com.

We reserve the right to refuse to provide you with information that we hold about you, in

certain circumstances set out in the Privacy Act.

Complaints about privacy

If you have any complaints about our privacy practices, please feel free to send in details

of your complaints to PO Box 7258, Brighton, Victoria, 3186. We take complaints very

seriously and will respond shortly after receiving written notice of your complaint.

Op out right

You can stop all collection of information by the Application easily by uninstalling the

Application. You may use the standard uninstall processes as may be available as part of

your mobile device or via the mobile application marketplace or network. You can also

request to opt-out via email, at privacy@eairwoman.com.

Changes to Privacy Policy

Please be aware that we may change this Privacy Policy in the future. We may modify this

Policy at any time, in our sole discretion and all modifications will be effective immediately

upon our posting of the modifications on our website or notice board. Please check back

from time to time to review our Privacy Policy.

Software Application

When you use our Application

When you come to our application we may collect certain information such as mobile

unique device ID, the IP address of your mobile device, mobile operating system, the type

of mobile internet browsers you use, and information about the way you use the

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Application. This information is used in an aggregated manner to analyse how people use

our site, such that we can improve our service.

Cookies

We may from time to time use cookies on our software application. Cookies are very small

files which a website uses to identify you when you come back to the application and to

store details about your use of the application. Cookies are not malicious programs that

access or damage your computer, tablet or smartphone. Most devices automatically

accept cookies but you can choose to reject cookies by changing your devise settings.

However, this may prevent you from taking full advantage of our application.

Automatic collection

The software Application may collect certain information automatically, including, but not

limited to, the type of mobile device you use, your mobile devices unique device ID, the IP

address of your mobile device, your mobile operating system, the type of mobile Internet

browsers you use, and information about the way you use the Application.

Third parties

Our software application may from time to time have links to other applications or websites

not owned or controlled by us. These links are meant for your convenience only. Links to

third party applications and websites do not constitute sponsorship or endorsement or

approval of these third parties. Please be aware that Diamond Age Technologies Pty Ltd is

not responsible for the privacy practises of other such applications or websites. We

encourage our users to be aware, when they leave our application or website, to read the

privacy statements of each and every application or website that collects personal

identifiable information.

Geo-location

When you visit the mobile application, we may use GPS technology (or other similar

technology) to determine your current location in order to determine the city you are

located within and display a location map with relevant advertisements. We will not share

your current location with other users or partners.

Disclaimer and Assumptions

Intended Use of Application

1. To encourage positive savings habits targeted to a sustainable financial position for

Australian individuals and couples at retirement age and after

2. To keep the app updated with Australian Government data and our own research at least

once per Calendar year

3. To provide a simple budgeting tool which identifies opportunities to start or increase regular

contributions to retirement investments and superannuation

4. To promote positive behaviours and progress reporting around budgeting and financial goal

setting by displaying Government benchmark retirement savings and Superannuation data
in a graphical format

5. The app is not intended to provide financial advice nor recommend any particular type of

investment, merely to get users in the habit of saving for retirement and tracking personal
expenses and ongoing savings easily and regularly and benchmarking against Australian
Government data and our own research

6. We do not recommend any particular financial or investment product or strategy or any

financial advisor

7. Always seek professional independent financial advice from a licenced Australian financial

planner before making any investment decision

Disclaimers

The calculated results presented are a model based on historical data and do not guarantee a future
outcome.

The calculations show illustrative examples of how much superannuation you could accumulate at
your chosen retirement age and how long it may last in retirement, based on a range of assumptions
which we have detailed in this document.

The information is general only and does not take into account your personal objectives, situation or
needs. The results are not a representation of actual entitlements or benefits from any particular
superannuation product and are not intended to be relied on for the purposes of making a decision
in relation to any financial product or investment strategy.

Any calculated results are based on the limited information or data that you have provided us in the
app and multiple assumptions made about the future that if varied could significantly change the
result. The amounts projected are estimates only and are not guaranteed.

These calculations cannot predict your final superannuation benefit or level of retirement income
with certainty because this will depend on your personal circumstances, unexpected life events, the
Age Pension paid, investment earnings, taxation rates, inflation, changes to Australian law,
international and local economic cycles and events beyond our control.

The calculations assume that your contributions are steady and predictable and that all assumptions
remain steady. These assumptions are essential so the modelling can show the effect of things you

may be able to control, such as choosing a different investment option. We cannot predict the
future, especially in light of accelerating climate change impacts, pandemics, outbreaks of war, riots,
natural disasters and changes to your own personal circumstances

Consider updating the Your Finances section of the application regularly, particularly if your
circumstances have changed.

Do not rely solely on this application to make decisions about your retirement. There will be other
factors to take into account. Before making any financial decisions consider your own financial
circumstances, needs and objectives and get professional financial advice as soon as possible.

Diamond Age Technologies Pty Ltd PTY. LTD. ABN 64 089 887 918 does not accept any liability, either
direct or indirect, arising from any person relying, either wholly or partially, upon any information
provided by, resulting from, calculated by, displayed by, shown in, or omitted from, this application.
Under no circumstances will Diamond Age Technologies Pty Ltd PTY. LTD. be liable for any loss or
damage caused by a user’s reliance on information obtained using the information presented.

Assumptions

We use the following assumptions. Note that your individual circumstances will differ and this will
alter any outcomes.

Inflation

Results are expressed in today's dollars, which means they are adjusted for inflation.

We make the following assumptions about inflation:

• 2.5% each year due to the rising cost of living (CPI inflation). Please note that COVID-19 is a

once in 100 years event and the post pandemic years may have much higher inflation than
the long term averages.

• A further 1.5% each year due to the cost of rising community living standards

Investment Returns

The following assumed investment returns are used for the calculations.

Super Investment
Option

10 Year Estimated
Future
Growth Rate (% pa)

High Growth

5.9

Balanced

5.4

Stable

4.4

We call the above table the ‘Fund Growth Table’.

We have identified data sources that we believe properly reflect investment growth rates because
those sources are independent of investment and superannuation funds. In the ‘Fund Growth Table’
the growth rates tend to be one or two percent below what investment and super funds quote
during late 2022 which was the most recent update. We don’t recommend any particular Super
Investment Option but instead we provide a super calculator within our app to enable you to see
your potential retirement super balance based on a different investment option.

The app is not intended to provide financial advice, merely to get users of the app in the habit of
saving for retirement and tracking personal expenses and ongoing savings. Always seek professional
independent financial advice from a licenced Australian financial planner before making any
investment decision.

Performance in the ‘Fund Growth Table’ is shown net of investment fees and tax which will always
reduce your fund growth and are unavoidable. Performance returns are also before administration
fees are deducted by the fund administrator.

The High Growth, Balanced and Stable options represent investment strategies with different
assumed return profiles.

For 'High Growth' we assume an investment mix between 81% and 95% of high growth assets.

For 'Balanced' we assume an investment mix between 61% and 80% of high growth assets.

For Stable’ we assume an investment mix between 21% and 40% of high growth assets.

Please remember that investment returns are not guaranteed. Before making decisions, you should
also consider the risk profile of different investment strategies.

Superannuation Contributions

Contributions to your Superannuation by your employer(s) are assumed to be taxed at 15%. These
are known as 'concessional' contributions.

We also assume if you make additional monthly contributions you will do this through
superannuation salary sacrifice. These amounts will be treated as 'concessional' and this app will
assume a tax rate of 15%.

Superannuation contributions made from your after tax income are deemed 'non-concessional'
contributions. Therefore the 15% contribution tax is not paid on these amounts. Within the app we
assume the only 'non-concessional' contributions are through the 'Retirement Plan', section with the
title 'What if today you invested a bonus or windfall amount'

Your personal circumstances may be different and this would alter the superannuation outcome.

To learn more about super contributions and tax refer https://moneysmart.gov.au/how-super-
works/tax-and-super and https://www.ato.gov.au/Individuals/Super/Growing-your-super/Adding-
to-your-super/Tax-on-contributions/

ASFA Retirement Standard

Guidance in relation to suggested Superannuation balances and Income at retirement are based on
the

ASFA Retirement Standard

The ASFA Retirement Standard benchmarks the minimum annual cost of a ‘comfortable standard of
living’ in retirement for singles and couples aged around 67 in line with inflation.

As of March 2022 the ASFA Comfortable Standard guidance is $46,494 per annum for singles and
$65,445 for couples being the minimum annual cost of a comfortable retirement for retirees aged 65
to 84 who own their own home. Refer to the ASFA Retirement Standard

(

https://www.superannuation.asn.au/resources/retirement-standard

) for details and all

assumptions.

The ASFA Retirement Standard also suggests that the superannuation balance required at
retirement to achieve this ‘comfortable lifestyle at retirement’ is $640,000 for a couple and
$545,000 for singles. This being the guidance as of March 2022. The assumption is that the retiree(s)
will draw down on all their super balance capital and receive a part Aged Pension Age until the age
of 90 years at which time the super balance will be exhausted. Figures are in today’s dollars using
2.75% AWE as a deflator and an assumed investment earning rate of 6 per cent. For full details and
all assumptions refer to

https://www.superannuation.asn.au/resources/retirement-standard

The ASFA guidance in regards to superannuation balance at retirement for a ‘Comfortable Lifestyle’
($640,000 for a couple and $545,000 for singles) assumes a retirement age of 67 years. A different
retirement age may require a different superannuation balance to achieve the same lifestyle
outcome. The balances required at different retirement ages are not provided through the ASFA
Retirement Standard. Where the indicated retirement age is not 67 years, the alternate balances
required have been modelled based on the ASFA Retirement Standard and in line with projections
made through the ASIC MoneySmart calculator here -

https://moneysmart.gov.au/retirement-

income/retirement-planner.

Refer to this site for details and all assumptions made.

Industry Benchmark

The superannuation balances required at a given age are based on guidance from ASFA. ASFA
provide the approximate amount a person should have in superannuation now (current age) to
reach the ASFA Comfortable Standard balance by age 67. The amounts used being effective as of
March 2022. The modelling is based on a single person assuming a future pre-tax wage income of
around $65,000 per annum. The balance required being the lump sum required for a ‘comfortable
retirement’ of $545,000 in today’s dollars based on the

ASFA Retirement Standard

. The lump sum

required for a comfortable retirement assumes that the retiree will draw down all their capital and
receive a part Age Pension. For details and all assumptions refer to

https://www.superguru.com.au/calculators/super-detective

The ASFA guidance for superannuation balances at a given age is based on a single person and does
not provide balances required for a couple. No Australian authority makes this calculation due to
individual circumstances will alter the outcome of earnings. For the purpose of modelling the
requirements of a couple, the amount required for a couple is assumed to be approximately 1.18
times that of the single’s balance amount provided by ASFA.

Average Superannuation Balance

Average Superannuation Balances at various age brackets are based on the ASFA publication
‘Experience to date with the early release of superannuation – June 2020’. Refer ‘Table 3: Average
(mean) balances for employees, June 2018’.

Link to guide here -

https://www.superannuation.asn.au/ArticleDocuments/359/2006-Experience-

to-date-with-the-early-release-of-superannuation.pdf.aspx

Combined Finances with Partner

If you indicate that your finances are not combined with a partner, we assume all amounts you have
entered under My Finances reflect those of a single person only (yourself). Calculations used for the
modelling will reflect a single person scenario.

If instead you indicate that your finances are combined with a partner, we assume all amounts you
have entered under My Finances reflect those of yourself and your partner combined. Calculations
used for the modelling will then reflect a couple scenario rather than a single person.

Calculations of Projected Superannuation Balance

Super balance projections presented on the home screen of the app only include actual
contributions currently being made by the user, not potential contributions that could be made.

Specifically for the calculations shown on the home screen of the app, the only contributions
included are My Finances -> Super Details -> ‘Monthly contributions from your employer(s)’

Any value entered under ‘If you wanted to invest a little extra each month, how much do you think
you could invest?’ is excluded.

The value entered under ‘If you wanted to invest a little extra each month, how much do you think
you could invest?’ is only used as a default value under the ‘What If’ scenarios to calculate potential
impact on savings if additional contributions were to be made.

Last updated: November 2022