Minimum Required Pension 

Account Based Pension Ver2020.2.au 

Data Input:

Name:                        

Date of Birth:              1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

Pension Start/Review: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Pension Ac Balance:  

Notes:

The minimum pension to be paid in the financial year is worked out by multiplying the member's pension account balance by a percentage factor for the relevant age. The percentage factors vary from 4% for ages under 64 in steps to 14% for those aged 95 or older (there are some special post GFC and Covid-19 reductions). The result is rounded to the nearest $10 but we suggest a higher amount is paid to be prudent the measure is met. Where the pension commences after 1 July in a year, the minimum payment for the first year is calculated proportionally. No minimum pension payment is required if the commencement is after the 1st of June.

Results: