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Craig Sankey

DARK SECRETS: What retirees need to know about minimum pension drawdowns - The Real Truth

Craig Sankey Peter Centrelink
Australians who wish to boost their partner's super cannot directly transfer money from one account to another. Photo: Getty

Question 1: I turn 75 in December. Does my drawdown increase on my first payment after my 75th birthday, or the first payment in July 2023?

Most superannuation income streams (allocated pensions) require a ‘minimum’ amount to be drawn down each year. This amount is based on your age and your account balance.

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