Amending your pension payment levels for 2010/11

Minimum pension payment levels for 2010-11

The Federal Government has announced that the 50% reduction in minimum pension levels will continue for 2010-11

Based on your age as at 1 July 2010, the following percentage factors will be applied to your account balance as at 1 July 2010 to determine the minimum level of income payments you need to receive over the 2010-11 financial year:

Age group Percentage
Under age 65 2%
Aged 65 – 74 2.5%
Aged 75 – 79 3%
Aged 80 – 84 3.5%
Aged 85 – 89 4.5%
Aged 90 – 94 5.5%
Aged 95 or more 7%

If you wish to change your pension payments for 2010-11?

If you wish to receive a higher level of payments than the new minimum or if you are on a specified amount and wish to either revert to the new minimum or if you wish to receive a different specified amount, please visit change your pension payments and follow the prompts to request a change.