New pension election

For members with account-based or transition to retirement pension accounts, the Government is temporarily reducing the minimum drawdown amount by 50% for the 2020 and 2021 financial years. Please read the Treasury fact sheet for more details.

If you would like to change your pension payment amount, please complete the form below:

Are you nominating the reduced minimum drawdown rate?
What is your nominated payment frequency?

•  If you nominate an amount that falls below the reduced annual minimum, your payments will be increased in line with the new legislated minimum

•  If you nominate the revised minimum pension and you have received above the revised minimum threshold, your pension payments will cease for the current financial year

•  All pension payment instructions need to be completed 5 days before the nominated pension date

 

The information on this website is of a general nature only and does not take into account your personal objectives, situation or needs. You should consider obtaining professional financial, taxation and or legal advice tailored to your personal circumstances prior to making any financial decision.