Calculator
Minimum pension calculator
Work out the minimum annual pension payment for each member by age and account balance at 1 July, with pro-rata for a pension that commenced during the year. Check what was actually paid against the minimum before 30 June.
Pensions
Add each member's pension. Enter age and balance at 1 July. Leave days remaining blank for a full year, or enter the days from commencement to 30 June to pro-rate.
- Total minimum required
- $0
- Total actually paid
- $0
The minimum is the age based percentage of the balance at 1 July, rounded to the nearest ten dollars. Where a pension commenced during the year, enter the days remaining from commencement to 30 June to pro-rate it; leave blank for a full year. No minimum is required where the pension commenced in June. A transition to retirement income stream (TRIS) also has a maximum of 10 per cent of the balance. The payment must actually reach the member by 30 June. A shortfall can cause the pension to be treated as ceasing, with loss of the earnings tax exemption for the year.
General reference only, not advice on a specific fund. Confirm current figures each year. Data stays in your browser; nothing is sent anywhere.