Retirement · Pension Phase
Minimum Pension Drawdown Calculator
Calculate the statutory minimum you need to withdraw from an account-based pension for the financial year.
Age-based ratesPart-year pro rataNearest $10
Use the 1 July balance, or commencement value for a new pension.
Awaiting input
Enter your age and pension balance.
What this estimate includes
- Uses the age bands stored in the selected tax-year configuration.
- Includes the commencement day in the part-year period.
- Rounds the calculated minimum to the nearest $10.
Frequently asked questions
How is the minimum pension payment calculated?
Multiply the pension account balance by the percentage factor for your age at 1 July, then round the statutory result to the nearest $10.
What if the pension starts partway through the year?
The minimum is generally pro-rated for the days from commencement through 30 June, including the start day.
Is a minimum required for a June start?
No minimum payment is required for an account-based pension that starts on or after 1 June in that financial year.
Tax Accuracy & Sources
Account-based pension minimum only. It does not model market-linked pensions, transition-to-retirement maximums, commutations, investment returns or fund-specific payment processing.