Payment relief
The Government has halved the minimum pension payment amounts on account-based pensions and annuities for the 2009/10 financial year. This relief is available to all VicSuper Pension members, and extends the relief first offered in 2008/09.
VicSuper Pension members now no longer have to elect the full minimum payment amount in 2009/10 - instead members can take a 50% reduction in the standard minimum pension payment amount. This move is in response to the global financial crisis and the recent period of reduced and negative investment returns.
If you'd like to discuss your situation, call VicSuper's Member Centre on toll free 1300 366 216, or speak directly to your VicSuper superannuation adviser.