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Fact Sheet - Pension Drawdown Relief for Retirees

Date:

Thursday, 26 February 2009

Content ID:

1492

Abstract:

On 18 February 2009, the Government announced that it will suspend the minimum payment requirement for account-based pensions for the second half of 2008-09. This will be achieved through a 50 per cent reduction in the minimum payment amounts that would otherwise apply for the 2008-09 financial year.

This change will benefit account-based pension holders to the extent that it avoids having to sell assets at a loss in order to meet the minimum payment amount for the current year.

This fact sheet provides additional detail on the measure in the form of answers to frequently asked questions.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Fact Sheet - Pension Drawdown Relief for Retirees  156.14kb

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