Minimum drawdown rates

Minimum drawdown rates for your super

When you have an AustralianSuper Choice Income or TTR Income account, you’ll need to withdraw a minimum amount every financial year. The amount is set by the government, is a percentage of your starting balance on 1 July of the current financial year and depends on your age.

The drawdown rates are:

You can choose how much you receive from your Choice Income or TTR Income account each year, as long as you get at least the minimum. There is no maximum withdrawal limit in a Choice Income account, while the TTR Income account has a maximum withdrawal limit of 10%. You can change your drawdown amounts any time, by logging into your account online.

If you open your account after 1 July, the minimum payment is calculated on a pro-rata basis for that financial year. If your super pension commences on or after 1 June, no payment is required in that financial year.

Use our Retirement Income Calculator to see how long your superannuation could last.

Your drawdown rates if you choose Smart Default

If you’ve opted for Smart Default, our pre-set drawdown option, you’ll initially receive 6% of your balance each year as income. As you get older, this amount will change to meet the minimum drawdown rate set by the government.

Every July, you’ll receive an email or letter confirming your payment amounts for the upcoming financial year. You don’t have to do anything unless you choose to adjust your payment amount.

To modify your payment options, simply log in to your account online. For more information about Smart Default, please refer to the Choice Income Product Disclosure Statement and the TTR Income Product Disclosure Statement.