Extension in minimum drawdown rates

Extension In Minimum Drawdown Rates

The temporary reduction in superannuation minimum drawdown rates (due to covid impact on earnings)has been extended to 30 June 2022.

This allows retirees the option to manage income payments differently during times of uncertainty.

Age at 1 July 2021

Temporary Minimum Drawdown rates

(until 30 June 2022)

Default minimum drawdown rates

(from 1 July 2022)

Preservation age to 64

2.0%

4.0%

65 to 74

2.5%

5.0%

75 to 79

3.0%

6.0%

80 to 84

3.5%

7.0%

85 to 89

4.5%

9.0%

90 to 94

5.5%

11.0%

95 and under

7.0%

14.0%

 

 

 

Acctweb

Subscribe

  • This field is for validation purposes and should be left unchanged.
Coutts Redington logo symbol only avatar.
Coutts Redington
Company
First and foremost, we’re accountants. But we like to think of ourselves as a lot more. We work closely alongside business owners to bring more clarity, direction, and support, improving elements of your life beyond just the business. And, with our firm’s history in the Townsville area going back to the 1950s, we’re an established part of the local business community. We take that responsibility seriously.

Share This

Select your desired option below to share a direct link to this page

Share on facebook
Share on twitter
Share on linkedin
Share on skype
Share on pinterest
Share on email