What are minimum annual pension payments?

Your account based pension is subject to a minimum amount that needs to be paid out to you each financial year.

We calculate the minimum annual payment required based on your account balance as at 1 July each year.

If you don’t have enough cash in your Cash Hub

If you don’t have enough cash in your Cash Hub to meet the minimum annual pension payments for FY24/25, you’ll need to sell down some assets to top up available cash before the next pension payment.

You’ll need to do this before Tuesday 3 June 2025 . If not, we'll have to sell down assets to top up your available cash from this date. You can view our Product Disclosure Statement (PDS) for more information.

Pension payments above the minimum requirement

As long as you have enough cash in your Cash Hub, we’ll pay the pension amount you’ve requested.

If there’s not enough money in your Cash Hub to pay the amount you’ve chosen, we’ll manually change it to the minimum payment that still needs to be made for the year.

Future pension payments in the new financial year will be calculated based on the most recently selected pension payment amount and payment frequency in the previous financial year, with adjustments made for any indexation or fixed rate increases you’ve requested.

Contact us

Need help? If you’re an adviser, please contact us via live chat in Adviser Online. If you’re a client, please call

1800 025 063

Talk to us today

To speak to a specialist complete this form and we'll be in touch.

Help and support

Visit our Adviser Help Centre and search our adviser FAQs. 

 

Additional information

This information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. Before making any financial investment decision to acquire or continue to hold a product mentioned on this page, consider the Product Disclosure Statement or relevant offer document and terms and conditions relating to that product and seek independent financial, legal and taxation advice to decide if our products are right for you.

The Macquarie Wrap, Macquarie Vision and Premium Portfolio Service products referred to on this page are issued by Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237 492 RSEL L0001281 (MIML) and Macquarie Wrap Cash Management Accounts are issued by MBL. The applicable offer documents are available on our product information page. Target Market Determinations for Macquarie issued products are available at macquarie.com.au/TMD under ‘Wealth products’. 

Funds invested on your behalf by MIML are not deposits with or other liabilities of MBL or any other entity of the Macquarie Group and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. None of MBL, MIML, or any other member of the Macquarie Group guarantees any particular rate of return or the performance of the investments, nor do they guarantee the repayment of capital.