Minimum drawdown rates

Drawdown rates for your income payments

When you have an AustralianSuper Choice Income or TTR Income account, every financial year you’ll need to withdraw a minimum amount. The amount is set by the government, is based on your age and increases as you get older.   

AGE AT 1 JULY EACH YEAR MINIMUM DRAWDOWN RATES
Preservation age to 64 4%
65 to 74 5%
75 to 79 6%
80 to 84 7%
85 to 89 9%
90 to 94 11%
95 and over 14%

New Choice Income or TTR Income members

If you open a Choice Income or TTR Income account, the government's standard minimum drawdown rates will apply, unless you choose a larger amount.

As a Choice Income or TTR Income member, you can change your drawdown amounts any time, by logging into your online account. For TTR Income members, a maximum withdrawal limit of 10% will apply.

Choice Income or TTR Income members who joined before 1 July 2023

Every July, you'll receive an email or letter confirming your payment amounts for that financial year. You don’t have to do anything, unless you choose to change your payment amount1. You can change your payment options, by logging into your account online.

What happens from 1 July 2023

The government had applied reduced minimum drawdown rates for all account-based pensions, up to 30 June 2023. However, from 1 July 2023, the government's standard minimum drawdown rates will apply to all account-based pensions, with no reductions. Learn how this change may affect your income payments, by viewing the scenarios below:

 The maximum withdrawal limit of 10% applies for TTR Income members.

See or make changes to your income payments

Check or change your income payment amount or frequency at any time, by logging into your online account and going to Transactions and then selecting Income payments.

Access your online account
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