Changes to Minimum Pension Drawdown Rates

On the 29th May 2021, the government announced that the reduced annual minimum pension payment amounts will be extended for the 2021/22 financial year.

To assist retirees, the government reduced the minimum annual payment amounts required for account-based pensions, annuities and allocated pensions by half for the 2019/20 and 2020/21 financial years. This was due to the negative effects of COVID-19 on the account balances of pension members.

Minimum annual pension amounts are calculated on the 1st of July each year – you will need to tell us if you want to increase or decrease your annual withdrawal amount.

  • If you have previously elected to receive the minimum pension payment rate, your payments will remain at the temporary reduced minimum pension rate during the 2021/22 financial year (please refer to the below table for the 2021/22 rates).
  • If you want to change your pension payment amount, you will need to take one of the actions outlined in the following section.

If we do not hear from you, we will pay you the same amount as the previous year.


Minimum Pension Payment Rates

Age Reduced minimum drawdown rates for 2019/20, 2020/21 and 2021/22 Minimum drawdown rate for future years
Under 65 2% 4%
65 to 74 2.5% 5%
75 to 79 3% 6%
80 to 84 3.5% 7%
85 to 89 4.5% 9%
90 to 94 5.5% 11%
95 or more 7% 14%

How do I change my pension payment amount?

The process for changing your pension amount will remain the same as previous years.  To make a change, take one of the following actions:

  • Complete a Pension Payment Election Form and return to us. Note that we will send you a Pension Payment Election Form to complete prior to the end of the 2020/21 financial year.
  • Log in to your online MemberAccess account and amend your payment preference via withdrawals.
  • Send us a letter that includes the following details:
  • The date
  • Your member number
  • Your full name
  • Your date of birth
  • The annual pension payment amount (before tax) or the percentage that you would like to receive each year
  • The month that you would like your first payment
  • How frequently you would like to receive payments*
  • Your signature

* See the section below titled How often can I receive my pension payment?

You can either email this letter to or post it to us:

Christian Super
Locked Bag 5073
Parramatta NSW 2124

You will need to submit your request 2 weeks prior to your payment date.

How often can I receive my pension payment?

You can choose from the following payment frequency options:

  • Twice a month on the 15th and 28th day of each month
  • Monthly on the 15th day of each month
  • Quarterly
  • Twice a year
  • Once a year

Why does the government set a minimum payment rate?

Super and the tax concessions it receives, is designed to provide income during retirement. The Federal Government sets minimum annual payments, which are considered to be a safe amount for retirees to withdraw each year while maintaining an account balance that will keep income flowing through retirement.

Your super income stream will stop when:

  • There’s no money left in the account,
  • No minimum payment is made,
  • It is commuted (converted) into a lump sum,
  • You die, unless you have a dependent beneficiary who is automatically entitled to receive the income stream.

There is no maximum annual drawdown other than the balance of your account, unless it is a Transition to Retirement (TTR) Pension which is not in retirement phase, in which case the maximum amount is 10% of your pension account balance.

Need help?

Please contact our Member Care Team if you have any questions about your account.


Disclaimer: The content of this article includes advice that is general in nature and does not consider your personal situation. Christian Super encourages all people considering their options in retirement planning to seek out qualified professionals who can provide specific personal advice.