| Retirement phase income streams | |
|---|---|
Definition |
All superannuation pensions or annuities except transition to retirement income streams and deferred superannuation income streams where no eligible condition of release has been met. |
Taxed on earnings within fund from 1 July 2017 |
No |
Counts against transfer balance cap |
Yes |
Counts towards total superannuation balance |
Yes |
| Age | Minimum annual percentage |
|---|---|
| 2024–25 | |
Under 65 |
4% |
65–74 |
5% |
75–79 |
6% |
80–84 |
7% |
85–89 |
9% |
90–94 |
11% |
95+ |
14% |
Minimum annual payment for full financial years = account balance at each 1 July x minimum percentage (determined by recipient’s age at each 1 July)
For part financial years see Account based pensions - pro-rata rule and '1 June rule' in next section.
| Commencement date | Minimum payment required for financial year of commencement |
|---|---|
1 July - 31 May |
Minimum annual payment1 x days remaining in financial year (including commencement day) ÷ 365 (or 366 in a leap year) |
1 June - 30 June |
No minimum payment required |
1 |
Minimum annual payment for account based pensions commenced from 1 July to 31 May = account balance at commencement x minimum percentage (determined by recipient’s age at commencement) |
| Term of TAP remaining rounded in whole years | Payment factor | Term of TAP remaining rounded in whole years | Payment factor | Term of TAP remaining rounded in whole years | Payment factor |
|---|---|---|---|---|---|
70 or more |
26.00 |
46 |
22.70 |
22 |
15.17 |
69 |
25.91 |
45 |
22.50 |
21 |
14.70 |
68 |
25.82 |
44 |
22.28 |
20 |
14.21 |
67 |
25.72 |
43 |
22.06 |
19 |
13.71 |
66 |
25.62 |
42 |
21.83 |
18 |
13.19 |
65 |
25.52 |
41 |
21.60 |
17 |
12.65 |
64 |
25.41 |
40 |
21.36 |
16 |
12.09 |
63 |
25.30 |
39 |
21.10 |
15 |
11.52 |
62 |
25.19 |
38 |
20.84 |
14 |
10.92 |
61 |
25.07 |
37 |
20.57 |
13 |
10.30 |
60 |
24.94 |
36 |
20.29 |
12 |
9.66 |
59 |
24.82 |
35 |
20.00 |
11 |
9.00 |
58 |
24.69 |
34 |
19.70 |
10 |
8.32 |
57 |
24.55 |
33 |
19.39 |
9 |
7.61 |
56 |
24.41 |
32 |
19.07 |
8 |
6.87 |
55 |
24.26 |
31 |
18.74 |
7 |
6.11 |
54 |
24.11 |
30 |
18.39 |
6 |
5.33 |
53 |
23.96 |
29 |
18.04 |
5 |
4.52 |
52 |
23.80 |
28 |
17.67 |
4 |
3.67 |
51 |
23.63 |
27 |
17.29 |
3 |
2.80 |
50 |
23.46 |
26 |
16.89 |
2 |
1.90 |
49 |
23.28 |
25 |
16.48 |
1 or less |
1.00 |
48 |
23.09 |
24 |
16.06 |
|
|
47 |
22.90 |
23 |
15.62 |
|
|
Total annual income payments from a TAP must be equal to the account balance at 1 July (or the account balance on the day of commencement) divided by the relevant payment factor from the table above. Under SIS rules, a pensioner may normally select an annual pension payment of between 90% and 110% of the required annual amount.
| Age | Male | Female |
|---|---|---|
0 |
80.76 |
84.85 |
1 |
80.05 |
84.11 |
2 |
79.07 |
83.12 |
3 |
78.08 |
82.14 |
4 |
77.09 |
81.14 |
5 |
76.10 |
80.15 |
6 |
75.11 |
79.16 |
7 |
74.11 |
78.16 |
8 |
73.12 |
77.17 |
9 |
72.12 |
76.17 |
10 |
71.13 |
75.18 |
11 |
70.14 |
74.18 |
12 |
69.14 |
73.19 |
13 |
68.15 |
72.19 |
14 |
67.16 |
71.20 |
15 |
66.17 |
70.21 |
16 |
65.18 |
69.22 |
17 |
64.20 |
68.23 |
18 |
63.23 |
67.25 |
19 |
62.26 |
66.26 |
20 |
61.29 |
65.28 |
21 |
60.32 |
64.29 |
22 |
59.36 |
63.30 |
23 |
58.39 |
62.32 |
24 |
57.43 |
61.33 |
25 |
56.46 |
60.35 |
26 |
55.50 |
59.36 |
27 |
54.53 |
58.37 |
28 |
53.57 |
57.39 |
29 |
52.61 |
56.41 |
30 |
51.65 |
55.42 |
31 |
50.68 |
54.44 |
32 |
49.72 |
53.46 |
33 |
48.77 |
52.48 |
34 |
47.81 |
51.51 |
35 |
46.85 |
50.53 |
36 |
45.90 |
49.56 |
37 |
44.95 |
48.58 |
38 |
44.00 |
47.61 |
39 |
43.05 |
46.64 |
40 |
42.10 |
45.68 |
41 |
41.16 |
44.71 |
42 |
40.22 |
43.75 |
43 |
39.29 |
42.79 |
44 |
38.35 |
41.83 |
45 |
37.43 |
40.88 |
46 |
36.50 |
39.92 |
47 |
35.58 |
38.97 |
48 |
34.66 |
38.03 |
49 |
33.75 |
37.08 |
50 |
32.84 |
36.14 |
51 |
31.93 |
35.21 |
52 |
31.03 |
34.27 |
53 |
30.13 |
33.34 |
54 |
29.24 |
32.42 |
55 |
28.35 |
31.49 |
56 |
27.47 |
30.57 |
57 |
26.60 |
29.66 |
58 |
25.73 |
28.75 |
59 |
24.87 |
27.84 |
60 |
24.02 |
26.93 |
61 |
23.17 |
26.03 |
62 |
22.33 |
25.14 |
63 |
21.50 |
24.24 |
64 |
20.67 |
23.36 |
65 |
19.86 |
22.47 |
66 |
19.04 |
21.60 |
67 |
18.24 |
20.73 |
68 |
17.45 |
19.87 |
69 |
16.67 |
19.02 |
70 |
15.90 |
18.18 |
71 |
15.14 |
17.35 |
72 |
14.39 |
16.53 |
73 |
13.66 |
15.73 |
74 |
12.95 |
14.93 |
75 |
12.25 |
14.15 |
76 |
11.57 |
13.39 |
77 |
10.90 |
12.64 |
78 |
10.25 |
11.90 |
79 |
9.63 |
11.18 |
80 |
9.02 |
10.49 |
81 |
8.44 |
9.81 |
82 |
7.89 |
9.16 |
83 |
7.36 |
8.54 |
84 |
6.86 |
7.94 |
85 |
6.39 |
7.37 |
86 |
5.95 |
6.83 |
87 |
5.54 |
6.32 |
88 |
5.16 |
5.84 |
89 |
4.81 |
5.40 |
90 |
4.50 |
4.99 |
91 |
4.22 |
4.61 |
92 |
3.96 |
4.28 |
93 |
3.72 |
3.97 |
94 |
3.50 |
3.69 |
95 |
3.29 |
3.43 |
96 |
3.11 |
3.18 |
97 |
2.93 |
2.94 |
98 |
2.77 |
2.73 |
99 |
2.62 |
2.53 |
100 |
2.49 |
2.36 |
101 |
2.36 |
2.19 |
102 |
2.24 |
2.05 |
103 |
2.14 |
1.91 |
104 |
2.04 |
1.80 |
105 |
1.94 |
1.69 |
106 |
1.86 |
1.59 |
107 |
1.78 |
1.51 |
108 |
1.71 |
1.43 |
109 |
1.64 |
1.37 |
Applies to relevant pensions and annuities that commence from 1 January 2020.
| Age | Male | Female |
|---|---|---|
0 |
80.06 |
84.31 |
1 |
79.39 |
83.60 |
2 |
78.42 |
82.62 |
3 |
77.44 |
81.63 |
4 |
76.45 |
80.64 |
5 |
75.46 |
79.65 |
6 |
74.46 |
78.66 |
7 |
73.47 |
77.66 |
8 |
72.48 |
76.67 |
9 |
71.49 |
75.68 |
10 |
70.49 |
74.68 |
11 |
69.50 |
73.69 |
12 |
68.51 |
72.69 |
13 |
67.51 |
71.70 |
14 |
66.52 |
70.70 |
15 |
65.53 |
69.71 |
16 |
64.55 |
68.72 |
17 |
63.56 |
67.74 |
18 |
62.59 |
66.76 |
19 |
61.63 |
65.77 |
20 |
60.67 |
64.79 |
21 |
59.70 |
63.81 |
22 |
58.74 |
62.82 |
23 |
57.78 |
61.84 |
24 |
56.81 |
60.86 |
25 |
55.85 |
59.87 |
26 |
54.89 |
58.89 |
27 |
53.92 |
57.90 |
28 |
52.96 |
57.90 |
29 |
52.00 |
55.94 |
30 |
51.04 |
54.96 |
31 |
50.08 |
53.98 |
32 |
49.13 |
53.00 |
33 |
48.17 |
52.02 |
34 |
47.22 |
51.04 |
35 |
46.26 |
50.06 |
36 |
45.31 |
49.09 |
37 |
44.36 |
48.12 |
38 |
43.41 |
47.14 |
39 |
42.46 |
46.18 |
40 |
41.51 |
45.21 |
41 |
40.57 |
44.24 |
42 |
39.62 |
43.28 |
43 |
38.68 |
42.32 |
44 |
37.75 |
41.36 |
45 |
36.81 |
40.41 |
46 |
35.88 |
39.45 |
47 |
34.95 |
38.50 |
48 |
34.03 |
37.56 |
49 |
33.11 |
36.61 |
50 |
32.20 |
35.67 |
51 |
31.29 |
34.74 |
52 |
30.38 |
33.80 |
53 |
29.49 |
32.87 |
54 |
28.59 |
31.95 |
55 |
27.71 |
31.02 |
56 |
26.83 |
30.10 |
57 |
25.95 |
29.19 |
58 |
25.09 |
28.28 |
59 |
24.22 |
27.37 |
60 |
23.37 |
26.47 |
61 |
22.52 |
25.57 |
62 |
21.68 |
24.68 |
63 |
20.85 |
23.80 |
64 |
20.03 |
22.92 |
65 |
19.22 |
22.05 |
66 |
18.41 |
21.18 |
67 |
17.62 |
20.33 |
68 |
16.84 |
19.48 |
69 |
16.07 |
18.64 |
70 |
15.31 |
17.80 |
71 |
14.56 |
16.98 |
72 |
13.83 |
16.18 |
73 |
13.11 |
15.38 |
74 |
12.40 |
14.60 |
75 |
11.72 |
13.83 |
76 |
11.05 |
13.08 |
77 |
10.41 |
12.33 |
78 |
9.78 |
11.61 |
79 |
9.18 |
10.90 |
80 |
8.60 |
10.21 |
81 |
8.04 |
9.55 |
82 |
7.51 |
8.90 |
83 |
7.00 |
8.29 |
84 |
6.52 |
7.70 |
85 |
6.06 |
7.14 |
86 |
5.64 |
6.61 |
87 |
5.24 |
6.11 |
88 |
4.87 |
5.65 |
89 |
4.52 |
5.22 |
90 |
4.21 |
4.82 |
91 |
3.92 |
4.45 |
92 |
3.66 |
4.12 |
93 |
3.44 |
3.82 |
94 |
3.24 |
3.55 |
95 |
3.06 |
3.32 |
96 |
2.91 |
3.11 |
97 |
2.78 |
2.93 |
98 |
2.67 |
2.77 |
99 |
2.57 |
2.62 |
100 |
2.46 |
2.50 |
101 |
2.36 |
2.38 |
102 |
2.27 |
2.27 |
103 |
2.19 |
2.17 |
104 |
2.11 |
2.08 |
105 |
2.03 |
2.00 |
106 |
1.96 |
1.92 |
107 |
1.90 |
1.85 |
108 |
1.84 |
1.79 |
109 |
1.79 |
1.73 |
Applies to relevant pensions and annuities that commence from 1 January 2015 to 31 December 2019.
| Age | Males | Females |
|---|---|---|
0 |
79.02 |
83.67 |
1 |
78.44 |
83.04 |
2 |
77.47 |
82.07 |
3 |
76.49 |
81.08 |
4 |
75.50 |
80.10 |
5 |
74.51 |
79.11 |
6 |
73.52 |
78.11 |
7 |
72.53 |
77.12 |
8 |
71.54 |
76.13 |
9 |
70.55 |
75.14 |
10 |
69.55 |
74.14 |
11 |
68.56 |
73.15 |
12 |
67.57 |
72.15 |
13 |
66.58 |
71.16 |
14 |
65.58 |
70.16 |
15 |
64.59 |
69.17 |
16 |
63.61 |
69.19 |
17 |
62.63 |
67.20 |
18 |
61.66 |
66.22 |
19 |
60.71 |
65.24 |
20 |
59.75 |
64.25 |
21 |
58.80 |
63.27 |
22 |
57.84 |
62.29 |
23 |
56.88 |
61.31 |
24 |
55.93 |
60.32 |
25 |
54.97 |
59.34 |
26 |
54.02 |
58.36 |
27 |
53.06 |
57.38 |
28 |
52.11 |
56.40 |
29 |
51.16 |
55.42 |
30 |
50.20 |
54.44 |
31 |
49.25 |
53.46 |
32 |
48.30 |
52.48 |
33 |
47.35 |
51.50 |
34 |
46.40 |
50.52 |
35 |
45.45 |
49.55 |
36 |
44.50 |
48.58 |
37 |
43.55 |
47.60 |
38 |
42.60 |
46.63 |
39 |
41.66 |
45.66 |
40 |
40.71 |
44.70 |
41 |
39.77 |
43.73 |
42 |
38.83 |
42.77 |
43 |
37.89 |
41.81 |
44 |
36.96 |
40.85 |
45 |
36.03 |
39.90 |
46 |
35.10 |
38.95 |
47 |
34.18 |
38.00 |
48 |
33.26 |
37.05 |
49 |
32.34 |
36.11 |
50 |
31.43 |
35.17 |
51 |
30.53 |
34.24 |
52 |
29.63 |
33.31 |
53 |
28.73 |
32.38 |
54 |
27.84 |
31.45 |
55 |
26.95 |
30.53 |
56 |
26.08 |
29.61 |
57 |
25.20 |
28.70 |
58 |
24.34 |
27.79 |
59 |
23.48 |
26.89 |
60 |
22.63 |
26.00 |
61 |
21.79 |
25.11 |
62 |
20.96 |
24.23 |
63 |
20.14 |
23.35 |
64 |
19.34 |
22.48 |
65 |
18.54 |
21.62 |
66 |
17.76 |
20.76 |
67 |
16.99 |
19.92 |
68 |
16.24 |
19.08 |
69 |
15.49 |
18.24 |
70 |
14.76 |
17.42 |
71 |
14.04 |
16.61 |
72 |
13.33 |
15.82 |
73 |
12.64 |
15.03 |
74 |
11.96 |
14.27 |
75 |
11.31 |
13.51 |
76 |
10.68 |
12.78 |
77 |
10.07 |
12.05 |
78 |
9.48 |
11.35 |
79 |
8.92 |
10.67 |
80 |
8.38 |
10.01 |
81 |
7.86 |
9.37 |
82 |
7.36 |
8.75 |
83 |
6.89 |
8.17 |
84 |
6.45 |
7.61 |
85 |
6.03 |
7.08 |
86 |
5.64 |
6.58 |
87 |
5.27 |
6.11 |
88 |
4.94 |
5.68 |
89 |
4.63 |
5.28 |
90 |
4.36 |
4.91 |
91 |
4.11 |
4.57 |
92 |
3.89 |
4.27 |
93 |
3.69 |
3.99 |
94 |
3.51 |
3.75 |
95 |
3.36 |
3.53 |
96 |
3.22 |
3.33 |
97 |
3.10 |
3.16 |
98 |
2.99 |
3.00 |
99 |
2.90 |
2.86 |
100 |
2.81 |
2.74 |
101 |
2.73 |
2.63 |
102 |
2.66 |
2.54 |
103 |
2.60 |
2.46 |
104 |
2.54 |
2.38 |
105 |
2.49 |
2.32 |
106 |
2.44 |
2.26 |
107 |
2.40 |
2.20 |
108 |
2.30 |
2.15 |
109 |
2.30 |
2.09 |
Applies to relevant pensions and annuities that commenced between 1 January 2010 and 31 December 2014.
Age Pension calculator