For those of you in pension phase, there has been an extension of the temporary reduction in superannuation minimum drawdown rates through to financial year 2022/23 From 1 July 2022 minimum pensions will again be halved for all account-based and term allocated income streams as follows: |
Account-based pension minimums |
Age | Standard Minimum | Reduced Minimum for 2022/23 |
Under 65 | 4% | 2% |
65-74 | 5% | 2.5% |
75-79 | 6% | 3% |
80-84 | 7% | 3.5% |
85-89 | 9% | 4.5% |
90-94 | 11% | 5.5% |
95 or older | 14% | 7% |
Great news for those pensioners trying to preserve their pension capital.
Lindsay 0413 952180
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