Retirement Planning & Experiences

[love_the_life]

Don't forget to factor in that when superannuation goes to retirement phase (pension) there is a minimum % draw down which increases with age. Currently it ranges from 4% @ 65 to 14% @ 95.

 

[Pushka]

Don't forget to factor in that when superannuation goes to retirement phase (pension) there is a minimum % draw down which increases with age. Currently it ranges from 4% @ 65 to 14% @ 95.

Yes, that defined how much we converted to pension phase from the accumulation account. We didn't want to draw down too much when we are still receiving salary and SS and just wanted to receive what we did before starting pension. Which does have other benefits like reduction of Medicare levy etc.