Minimum superannuation drawdown rates
You can control how much you pay yourself each year from your Retirement Income account or Transition to Retirement Income account, but you need to receive at least the minimum amount set by the government.
Your minimum payment amount is a percentage of your Income account balance as at the start of the financial year, or the date your Income account started, if later.1
Temporary reduced rates
To help retirees minimise the impact of market volatility, the government has temporarily halved the minimum drawdown rates for 2019-20, 2020-21, and 2021-22.
You can change your Income account payments at any time in Member Online.
The table below shows the temporary rates for Retirement Income accounts and Transition to Retirement Income accounts, as well as the minimum withdrawal percentages that would normally apply.
| Age |
Reduced rates for 2019-20, 2020-21, and 2021-22 |
Usual minimum drawdown rates |
| Under 65 |
2% |
4% |
| 65-74 |
2.5% |
5% |
| 75-79 |
3% |
6% |
| 80-84 |
3.5% |
7% |
| 85-89 |
4.5% |
9% |
| 90-94 |
5.5% |
11% |
| 95 or more |
7% |
14% |
Maximum superannuation drawdown rates
If you have a Transition to Retirement Income account, you cannot receive more than 10% of your account balance each financial year.
There is no maximum withdrawal limit if you have a Retirement Income account, so you can receive any amount, up to the total balance of your account.