Skip to main content
shopping_cart

Your shopping cart is empty

06 Jun 11 Superannuation: minimum payment amounts for account-based pensions reduced – regulations amended

The Superannuation Industry (Supervision) Regulations 1994 have been amended to give effect to the Government’s announced measure to reduce the minimum payment amounts for account-based pensions by 25% for the 2011?2012 financial year. This follows the pension drawdown relief provided in the previous three financial years: Superannuation Industry (Supervision) Amendment Regulations 2011 (No 1) (SLI 2011 No 83; made 2 June 2011; registered 3 June 2011).

Similar amendments have been made to the Retirement Savings Accounts Regulations 1997: Retirement Savings Accounts Amendment Regulations 2011 (No 1) (SLI 2011 No 81; made 2 June 2011; registered 3 June 2011).

The reduction in the minimum payment amounts for 2011-2012 applies to account-based annuities and pensions, allocated annuities and pensions, and market-linked annuities and pensions.