pension phase Archives - GERARD WILKES & Assoc

April 1, 2020

Minimum pension drawdown rates halved for 2019/20 and 2020/21

gwa-authorInvestment Advice, Retirement Planning, Self Managed Super Funds, Small Business, Taxation, Wealth Creation Minimum Pension, pension phase, self managed super fund, superannuation

On 22 March 2020 the federal government announced that the minimum pension drawdown rates would be temporarily halved for the 2019/20 and 2020/21 financial years. This is due to many retirees losing a significant portion of their super account balance as sharemarkets have plunged due to the coronavirus crisis. This rule change assists retirees who […]