2023-24 financial year update
On 23 March 2020, the Government passed laws allowing members to elect to receive half the normal minimum drawdown. This reduction has applied to minimum drawdown rates for all account-based pensions, up to 30 June 2023.
No extension was announced at the last Federal Budget, so from 1 July 2023, the Government’s standard minimum drawdown rates will apply to all account-based pensions as follows: