If you have converted your superannuation account to a pension account then you must make withdrawals from the pension account.
The minimum pension payment rates are calculated as a percentage of your account balance as at 1 July of each financial year, or when the pension is started if mid-year. The percentage is dependent on your age as at 1 July of each financial year, or when the pension was started.
The rates are:
| Age | Minimum Annual Payment |
| Under 65 | 4% |
| 65-74 | 5% |
| 75-79 | 6% |
| 80-84 | 7% |
| 85-89 | 9% |
| 90-94 | 11% |
| 95 and above | 14% |
In previous years the percentage factor was discounted in order to help preserve account balances during the GFC. This has now ended.
