Retirement Savings Accounts Amendment

Retirement Savings Accounts Amendment Regulation 2012 (No. 1) reduces the minimum payment amounts for account-based pensions by 25 per cent for the 2012‑13 financial year.

The reduction in the minimum payment amounts for 2012-13 applies to account-based annuities and pensions, allocated annuities and pensions, and market linked annuities and pensions.

This measure is designed to assist pension account balances to recover from capital losses associated with the global financial crisis.

A consolidated Retirement Savings Accounts Regulations 1997 can be downloaded here.

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