4% to 14% Set by age
Super Minimum Drawdown Calculator
Once your super is in an account-based pension you must withdraw at least a set percentage every year, and the percentage climbs as you get older. Put in your balance and age to see the minimum for the year — and per month, which is the number that actually lands in your bank account.
1 Enter your balance2 Enter your age3 See the minimum
Step 3 · your result
Minimum you must withdraw this year
$0
for the financial year
- Your percentage
- 0%
- Age band
- —
- Per month
- $0
- Per fortnight
- $0
- Maximum (if a TRIS)
- —
Source: Australian Taxation Office — Payments from super — minimum annual payments, read in full 13 October 2026. General information only, not personal financial advice.
Minimum percentage by age
| Age at 1 July | Minimum payment |
|---|---|
| Under 65 | 4% |
| 65–74 | 5% |
| 75–79 | 6% |
| 80–84 | 7% |
| 85–89 | 9% |
| 90–94 | 11% |
| 95 or more | 14% |
These are the ATO's own factors, from its payments-from-super rates page. The ATO describes the table as indicative only — the precise minimum, especially for market-linked income streams, is set by pro-rating and rounding rules in the Superannuation Industry (Supervision) Regulations 1994. Your fund applies those to your own account.
What the payment looks like in practice
A $480,000 balance at age 67 falls in the 65–74 band, so the minimum is 5% — $24,000 for the year, or $2,000 a month. That is a floor, not a ceiling: taking more is allowed, and taking the minimum is common for people who want the balance to keep growing for later.
The minimum is worked out on the balance at 1 July, and it does not change if the market falls later in the year. That is the trap in a bad year — the dollar amount is fixed even though the account is smaller by June.
When it was halved, and why that matters now
| Period | Minimum payment for account-based pensions |
|---|---|
| 2008–09 to 2010–11 | Reduced by 50% |
| 2011–12 to 2012–13 | Reduced by 25% |
| 2013–14 to 2018–19 | Normal factors |
| 2019–20 to 2022–23 | Reduced by 50% |
| 2023–24 onwards | Normal factors |
The temporary cut has not been extended. Anyone whose retirement plan was built around the 2.5% figure needs to know the requirement is back to 5%.
Transition to retirement pensions are different
A TRIS — the pension you can start once you reach preservation age while still working — has both a floor and a ceiling while you are under 65: at least 4% and no more than 10% of the balance each year. It also cannot be commuted into a lump sum until you meet a condition of release with no cashing restrictions.
Once you turn 65, or retire after reaching preservation age, the 10% ceiling falls away and the normal minimum factors apply.
Frequently asked questions
What is the minimum drawdown?
Once you start an account-based pension, you must take out at least a set percentage of the balance each year. The percentage rises with your age — 4% under 65, up to 14% at 95 or over. It is a minimum, not a target, and there is no maximum once you have met a condition of release with no cashing restrictions.
How is the percentage applied?
To the account balance at 1 July each year, and for a pension that starts part way through the year it is pro-rated from the commencement day. Your provider does this calculation — but it is worth checking, because the payment is worked out on the balance before any payments come out.
What if I do not take it?
The fund has to pay the minimum, and it is a legal requirement of the pension standards rather than a choice. Taking less than the minimum can mean the pension does not meet the rules and loses its tax treatment.
Why are the percentages higher for older people?
Because the minimum is designed to make sure the capital is drawn down over retirement rather than left to grow tax-free indefinitely. That is also why the factors jump from 4% to 14% across the age bands.
Were these amounts reduced at some point?
Yes. The minimum payment for account-based pensions and annuities was temporarily cut by 50% for 2019–20 through 2022–23, and by 50% then 25% during the global financial crisis. Those reductions have not been extended, so the normal factors have applied from 2023–24 onwards.
What about a transition to retirement pension?
A TRIS has a band of its own while you are under 65 and still working: a minimum of 4% and a maximum of 10% of the balance each year. It cannot be taken as a lump sum until you meet a condition of release with no cashing restrictions.
Related
- Accessing your super — preservation age and the conditions of release
- Age Pension rates — what the pension pays once the super runs down
- Contributions caps — the other end — what can go in