Federal Budget 2022: Superannuation
Perhaps surprisingly, there were few superannuation measures in the Federal Budget beyond the extension of the minimum drawdown rates.
Reduction in minimum superannuation drawdown rates extended again
The temporary 50% reduction in superannuation minimum drawdown requirements for account-based pensions and similar products has been extended to 30 June 2023.
Minimum superannuation drawdown rates 2019-2023
|
Age |
Default minimum drawdown rates (%) |
Reduced rates by 50% for the 2019-20 to 2022-23 income years (%) |
|
Under 65 |
4 |
2 |
|
65-74 |
5 |
2.5 |
|
75-79 |
6 |
3 |
|
80-84 |
7 |
3.5 |
|
85-89 |
9 |
4.5 |
|
90-94 |
11 |
5.5 |
|
95 or more |
14 |
7 |
More from the Budget
Federal Budget 2022: For you and your family
Federal Budget 2022: Your Super
Federal Budget 2022: Business and Employers
Federal Budget 2022: Education and Training
Federal Budget 2022: Government and Regulation