The service enables accountants and SMSF practitioners to check and assess a household’s ability to sustain a desired level of spending for the duration of retirement.

“There is a growing realisation that many retirees do not have a clear picture of the sustainability of their retirement savings,” said chief executive of Accurium Tracy Williams.

“Research conducted by Accurium shows that 75 per cent of typical 65-year-old couples do not have enough assets in their SMSF to sustain $100,000 per annum for life in retirement.

“Because we all know that investment markets don’t move in a straight line, we’ve taken an approach that takes into account the probability of investment market and inflation risk. Importantly, it also includes longevity risk in the modelling because the wide range of possible planning horizons is a key factor.”