Reminder – Superannuation Pension Drawdown Minimums Back to Original Amounts
At the start of the COVID-19 pandemic, Treasury enacted changes to the annual minimum drawdown requirements for those members in receipt of superannuation pensions. The changes were that the annual minimum drawdown required was temporarily halved for the 30 June 2021, 30 June 2022 and 30 June 2023 financial years. The below figures are the annual minimum percentages required to be drawn for account-based pensions for the 30 June 2024 financial year: Age of Member Percentage Factor Under 65 4%…