Retirement planning is about preparing for how you will support yourself when you stop work or reduce your hours. It can help you understand your options, make informed decisions and feel more prepared for the future. 

For veterans and families of veterans, retirement planning can include extra factors such as ADF service, military and civilian superannuation, DVA payments, health changes, or retiring earlier than expected. 

You can start planning at any time. Even small steps can make retirement feel more manageable. 

What’s on this page 

• What retirement planning involves 
• Retirement planning for veterans and families of veterans 
• Planning for unexpected retirement 
• Tools to help you plan for retirement 
• Other trusted retirement planning resources 
• When to seek financial advice 

What retirement planning involves 

Retirement planning can involve thinking about: 

• when you might want, or need, to retire 
• how much income you may need in retirement 
• different sources of income, including superannuation, pensions or other payments 
• living costs, housing and healthcare needs 
• how unexpected changes, such as illness or injury, could affect your plans 

Planning ahead can help you understand where you are now, what you may need later, and what steps you can take next. 

Retirement planning for veterans and families of veterans 

Veterans and families of veterans may need to consider factors that do not affect everyone in the same way, including: 

• retiring earlier due to injury or health impacts 
• receiving superannuation through ADF-specific schemes 
• receiving DVA payments or pensions alongside super 
• periods of civilian and ADF employment 

These factors can affect when you can access retirement income and how different payments may work together. 

Planning for unexpected retirement 

Not all retirements happen as planned. Injury, illness or caring responsibilities can mean leaving work earlier than expected. 

Planning ahead can help you feel more prepared if your circumstances change. It can also help you understand what support and income options may be available. 

Tools to help you plan for retirement 

MoneySmart provides free tools and information such as the MoneySmart guide and  MoneySmart Retirement Planner to help you plan for retirement.  

You can use these tools to: 

• estimate how much money you may need in retirement 
• understand when you might be able to access superannuation 
• see how superannuation and the Age Pension can work together 
• explore different retirement scenarios 

Other trusted retirement planning resources 

These official resources can help you learn more about retirement income, superannuation and support services. 

• Services Australia 
  Find information about the Age Pension and the Financial Information Service. 
• Australian Taxation Office (ATO) 
  Learn more about superannuation and planning for retirement. 
• Department of Veterans’ Affairs (DVA) 
  Find information about pensions, compensation and payments for veterans and families via the DVA website. 
• Commonwealth Superannuation Corporation (CSC) 
  Find information about ADF and Australian Government superannuation schemes via the CSC website.  

You may want to seek professional advice if your situation is more complex or you are unsure which options are right for you. 

When to seek financial advice 

Financial advice may be helpful if you are: 

• approaching retirement age 
• transitioning earlier than planned 
• managing complex superannuation or pension arrangements 
• balancing DVA payments, super and other income sources 

MoneySmart also explains how to choose a licensed financial adviser and understand your rights and protections. 

Choosing a financial adviser 

You can learn what to look for in a licensed financial adviser and how to check their credentials through MoneySmart – Choosing a Financial Adviser. 

You can also look for a licensed financial adviser through the Australian Securities and Investments Commission (ASIC) Financial Advisers Register.