Minimum pension payments

For many retirees, the significant losses in financial markets caused by the COVID-19 crisis has had a significant negative impact on their superannuation pension. To help retirees preserve their retirement savings, the Government has halved the minimum annual payment required for account-based pensions in the 2019/20 and the 2020/21 financial years.

Want to find out more click here to watch a step by step video.

Other support available

  • Contact us here if you would like to talk with a financial adviser (at no cost).

Further information and Government resources

  • Visit the Government’s MoneySmart website
  • Information on temporarily reducing superannuation minimum payment amounts visit the ATO website