Super Minimum Drawdown Rates Table 2026-27
This super minimum drawdown rates table shows the minimum percentage of your account-based pension you must withdraw in 2026–27, for every age band — plus the pro-rata rules for pensions started mid-year and what the minimum looks like in dollars on real balances.
Last updated: July 2026 · SIS Regulations 1994, Schedule 7 · FY 2026–27
The government has halved these rates in past market crises — we will email you if that ever happens again. No spam, unsubscribe anytime.
How to Read This Table
Find your age on 1 July 2026 (not your age today) in the first column — that band’s percentage, applied to your account balance on 1 July 2026, is the minimum you must withdraw before 30 June 2027. The exact legal amount is rounded to the nearest $10, and it is a floor, not a target: you can always withdraw more. If your pension started after 1 July, use your age and balance on the day it commenced and pro-rate by the days remaining in the year.
Minimum Drawdown Rates by Age 2026–27
| Age at 1 July | Minimum % | On $200,000 | On $500,000 | On $1,000,000 |
|---|---|---|---|---|
| Under 65 | 4% | $8,000 | $20,000 | $40,000 |
| 65–74 | 5% | $10,000 | $25,000 | $50,000 |
| 75–79 | 6% | $12,000 | $30,000 | $60,000 |
| 80–84 | 7% | $14,000 | $35,000 | $70,000 |
| 85–89 | 9% | $18,000 | $45,000 | $90,000 |
| 90–94 | 11% | $22,000 | $55,000 | $110,000 |
| 95 or more | 14% | $28,000 | $70,000 | $140,000 |
Source: Schedule 7, Superannuation Industry (Supervision) Regulations 1994 (compilation in force 1 July 2026). Amounts are rounded to the nearest $10 by law; the dollar columns above are exact because the sample balances divide evenly.
Understanding Your Minimum Drawdown
The minimum exists because the retirement phase is tax-free: no tax on the account’s investment earnings, and for most people no tax on the payments themselves from age 60. In exchange, the law requires the money to actually flow out as retirement income. The percentages step up with age — from 4% before 65 to 14% at 95-plus — so the account is drawn down over a realistic lifetime rather than preserved as a tax shelter.
The 1 July snapshot matters more than people expect. Your minimum is fixed by the balance at the start of the financial year — if markets fall 15% in August, your dollar minimum doesn’t change until the next 1 July resets it. That’s also why the government’s crisis response in 2008–10 and 2019–23 was to halve the percentages: retirees were otherwise being forced to sell assets into a crash to meet a minimum set at pre-crash values.
The Special Cases
Three rules cover the edges. Mid-year start: the minimum is pro-rated by the days remaining, using your age and balance on the commencement day. June start: commence on or after 1 June and no payment is required at all until the next financial year. Transition to retirement: while you’re still working, a TTR pension also has a maximum — 10% of the same 1 July balance — which disappears once you retire or turn 65. And if you underpay the minimum, the account loses its earnings-tax exemption for the whole year, which is why most funds top up payments automatically each June.
Frequently Asked Questions
Which age counts — my age now or at 1 July?
Your age on 1 July 2026. If you turn 75 in October 2026, you stay in the 65–74 band (5%) for all of 2026–27, and move to 6% from 1 July 2027. The only exception is a pension that starts mid-year, which uses your age on the commencement day.
Is there a maximum I can withdraw?
Not on a standard account-based pension — the table sets floors only, and lump sums are allowed at any time. The single exception is a transition to retirement pension before you’ve fully retired: capped at 10% of the 1 July balance per year.
Are these the halved COVID rates?
No — the temporary 50% reduction ended with the 2022–23 year. The rates above are the standard Schedule 7 percentages and have applied unchanged since 1 July 2023. If a future crisis triggers another reduction, this table will be updated and the alert at the top will email you.
Do the same rates apply to my SMSF pension?
Yes. Schedule 7 applies to account-based pensions in retail funds, industry funds and self-managed funds alike. The difference is who enforces it: a large fund tops you up automatically, while in an SMSF meeting the minimum before 30 June is the trustee’s job — yours.
Also in Australia:
📋 Rates verified — Official sources: SIS Regulations 1994, Schedule 7 · Moneysmart (ASIC) — Account-based pensions
⚠️ This is general information, not financial, tax or legal advice. KnowMyGovt is an independent service with no affiliation with or endorsement by the ATO, ASIC or the Australian Government, and is not responsible for decisions you make based on it.
