On 24 June 2021, superannuation regulations were amended to extend the temporary 50 per cent reduction to the minimum superannuation income payments from account based pensions and market linked pensions (also referred to as term allocated pensions) by another year, to 30 June 2022.


Minimum percentage factors 2021-221

Age

Standard rate

Rate with reduction

Under 65

4.00%

2.00%

65 – 74

5.00%

2.50%

75 – 79

6.00%

3.00%

80 – 84

7.00%

3.50%

85 – 89

9.00%

4.50%

90 – 94

11.00%

5.50%

95 and over

14.00%

7.00%


The changes will take effect on 1 July 2021.

Additional information

1 Multiply factor by 1 July account balance or pension commencement value if commenced after 1 July.
 

Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237 492 RSEL L0001281 (MIML) is the operator of Macquarie Investment Manager, Macquarie Investment Manager II, Macquarie Investment Consolidator, Macquarie Investment Consolidator II and Macquarie Investment Accumulator; and is the Trustee of the Macquarie Superannuation Plan.

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