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
22nd-February-2022
Peter I Price & Associates Pty Ltd
Phone: (07) 3376 3411| Email: info@peterprice.com.au
15 Loffs Road, Mt Ommaney QLD 4074
Liability limited by a scheme approved under Professional Standards Legislation.
Peter I Price & Associates Pty Ltd