Income stream payment limits
Minimum annual income payments are as follows:
The Government has reduced the temporary relief on income stream payments announced in February 2009, with the required minimum payment for the 2011/2012 financial year set at 75% of pre-GFC levels.
| Age* |
Minimum annual payment 1 July 2011 to
30 June 2012† |
| Under 65 |
3.0% |
| 65-74 |
3.75% |
| 75-79 |
4.5% |
| 80-84 |
5.25% |
| 85-89 |
6.75% |
| 90-94 |
8.25% |
| 95+ |
10.25% |
* Pensioner's age at 1 July in the financial year when payment made or in the year that pension payments commence - age at commencement date of pension.
† Percentage of account balance on 1 July in the financial year when the income payments are to be made. Revised minimum annual percentages will apply from 1 July 2012.
Maximum annual income payments:
Only applicable if you receive income payments under the Transition to retirement scheme and are still working. In this case the maximum annual income payment is 10% of your account balance at 1 July in the financial year when payment is made or in year that pension payments commence.
To calculate the annual minimum payments applicable to your balance, use our Income stream payments calculator.