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Reducing Minimum Drawdown From Account Based Pensions

There is a temporary reduction in the minimum annual amount that you’re required to withdraw from your superannuation income stream.

This will reduce your need to sell investment assets to fund minimum pension requirements.

The reduction in the minimum drawdown rates applies for the duration of the 2019/20 financial year and for the 2020/21 financial year. The minimum drawdowns for account based pensions reduces as follows:

Adviser Comment

We encourage retired clients who have adequate cash reserves or can trim their short term expenditure and do not require all their pension payments for the short term to consider this opportunity.

To implement this adjustment, please email your adviser with your instructions or call your adviser to discuss how best to implement for your unique circumstances.

 

 

 

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