Minimum draw down from pension fund if balance is reduced after 1st July

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Bruce4Tax · Answer

but they refuse to do so saying I must continue with the amount determined on 1st July. That is correct. I have consulted with both the ATO and a financial adviser who both advise that the monthly payment could now be reduced to 5% of the current balance, Depends on how your question was understood. Yes - but only if you were to fully commute the remaining balance to accum, then restart the pension with the lower balance. You should get proper advice about this, in case there any side-effects.

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