In this year’s Federal Budget, the Government announced the minimum pension payment requirements for the 2011/12 financial year will be reduced by 25 per cent.

This means allocated  pension owners will only need to take 75 per cent of their calculated minimum pension payment requirements for 2011/12.

How to take advantage of the relief?
The pension payment relief will automatically apply to your most allocated pension clients’ id already requested minimum calculated pension payment requirements for 2011/12.

If an allocated pension owner wants to receive higher they will need to contact their adviser.

If you have a SMSF then contact your accountant, administrator or financial adviser.