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This topic contains the pension valuation factors (PVFs) and the percentage factors for allocated and account based income streams specified in the Superannuation Industry (Supervision) Regulations 1994 (SISR) and the Superannuation Industry (Supervision) Amendment Regulations 2007 (SISAR) where:
Note 1: Allocated income streams with commencement days before 1 July 2007 may still use the PVFs being used before that date. However, if the recipient wishes, they may use the new minimum pension limits that apply from that date.
Note 2: An income stream with a commencement day from 1 January 2006 to 30 June 2006 may also use the PVFs in Schedule 1A for payments made during this period. However, payments made from these income streams subsequent to 30 June must be in accordance with the PVFs specified in Schedule 1AAB.
Note 3: For the financial years commencing 1 July 2008 and ending 30 June 2011, the minimum amount of payments is half of the amount worked out using the appropriate formula specified in Schedules 1A, 1AAB and 7 of the Superannuation Industry (Supervision) Regulations 1994.
Note 4: For the financial year commencing 1 July 2011 and ending 30 June 2012, the minimum amount of payments is 75% of the amount worked out using the appropriate formula specified in Schedules 1A, 1AAB and 7 of the Superannuation Industry (Supervision) Regulations 1994.
Policy reference: 4.9.2.30 Income Test Assessment of Asset-test Exempt Income Streams, 4.9.3.30 Income Test Assessment of Asset-Tested income Streams
The following tables show the maximum and minimum PVFs and percentage factors for recipients according to their age on 1 July each year.
|
Age |
Max PVF |
Min PVF |
Age |
Max PVF |
Min PVF |
Age |
Max PVF |
Min PVF |
|
41 |
10 |
24.3 |
61 |
8.9 |
17.4 |
81 |
1 |
8.7 |
|
42 |
10 |
24.0 |
62 |
8.7 |
17.0 |
82 |
1 |
8.3 |
|
43 |
10 |
23.7 |
63 |
8.5 |
16.6 |
83 |
1 |
7.9 |
|
44 |
10 |
23.4 |
64 |
8.3 |
16.2 |
84 |
1 |
7.5 |
|
45 |
10 |
23.1 |
65 |
8.1 |
15.7 |
85 |
1 |
7.1 |
|
46 |
10 |
22.8 |
66 |
7.9 |
15.3 |
86 |
1 |
6.8 |
|
47 |
10 |
22.5 |
67 |
7.6 |
14.9 |
87 |
1 |
6.4 |
|
48 |
10 |
22.2 |
68 |
7.3 |
14.4 |
88 |
1 |
6.1 |
|
49 |
10 |
21.9 |
69 |
7.0 |
14.0 |
89 |
1 |
5.8 |
|
50 |
9.9 |
21.5 |
70 |
6.6 |
13.5 |
90 |
1 |
5.5 |
|
51 |
9.9 |
21.2 |
71 |
6.2 |
13.1 |
91 |
1 |
5.3 |
|
52 |
9.8 |
20.9 |
72 |
5.8 |
12.6 |
92 |
1 |
5.0 |
|
53 |
9.7 |
20.5 |
73 |
5.4 |
12.2 |
93 |
1 |
4.8 |
|
54 |
9.7 |
20.1 |
74 |
4.8 |
11.7 |
94 |
1 |
4.6 |
|
55 |
9.6 |
19.8 |
75 |
4.3 |
11.3 |
95 |
1 |
4.4 |
|
56 |
9.5 |
19.4 |
76 |
3.7 |
10.8 |
96 |
1 |
4.2 |
|
57 |
9.4 |
19.0 |
77 |
3.0 |
10.4 |
97 |
1 |
4.0 |
|
58 |
9.3 |
18.6 |
78 |
2.2 |
10.0 |
98 |
1 |
3.8 |
|
59 |
9.1 |
18.2 |
79 |
1.4 |
9.5 |
99 |
1 |
3.7 |
|
60 |
9.0 |
17.8 |
80 |
1 |
9.1 |
100 or more |
1 |
3.5 |
|
Age |
Max PVF |
Min PVF |
Age |
Max PVF |
Min PVF |
Age |
Max PVF |
Min PVF |
|
41 |
12 |
25.3 |
61 |
10.7 |
18.9 |
81 |
2.3 |
10.0 |
|
42 |
12 |
25.0 |
62 |
10.5 |
18.5 |
82 |
1.4 |
9.6 |
|
43 |
12 |
24.8 |
63 |
10.3 |
18.1 |
83 |
1 |
9.1 |
|
44 |
12 |
24.5 |
64 |
10.1 |
17.7 |
84 |
1 |
8.7 |
|
45 |
12 |
24.2 |
65 |
9.9 |
17.3 |
85 |
1 |
8.3 |
|
46 |
12 |
24.0 |
66 |
9.6 |
16.8 |
86 |
1 |
7.9 |
|
47 |
12 |
23.7 |
67 |
9.3 |
16.4 |
87 |
1 |
7.5 |
|
48 |
12 |
23.4 |
68 |
9.1 |
16.0 |
88 |
1 |
7.2 |
|
49 |
12 |
23.1 |
69 |
8.7 |
15.5 |
89 |
1 |
6.9 |
|
50 |
12 |
22.8 |
70 |
8.4 |
15.1 |
90 |
1 |
6.6 |
|
51 |
11.9 |
22.5 |
71 |
8.0 |
14.6 |
91 |
1 |
6.3 |
|
52 |
11.8 |
22.2 |
72 |
7.6 |
14.2 |
92 |
1 |
6.0 |
|
53 |
11.8 |
21.8 |
73 |
7.2 |
13.7 |
93 |
1 |
5.8 |
|
54 |
11.7 |
21.5 |
74 |
6.7 |
13.3 |
94 |
1 |
5.5 |
|
55 |
11.5 |
21.1 |
75 |
6.2 |
12.8 |
95 |
1 |
5.3 |
|
56 |
11.4 |
20.8 |
76 |
5.7 |
12.3 |
96 |
1 |
5.1 |
|
57 |
11.3 |
20.4 |
77 |
5.1 |
11.9 |
97 |
1 |
4.9 |
|
58 |
11.2 |
20.1 |
78 |
4.5 |
11.4 |
98 |
1 |
4.7 |
|
59 |
11.0 |
19.7 |
79 |
3.8 |
10.9 |
99 |
1 |
4.5 |
|
60 |
10.9 |
19.3 |
80 |
3.1 |
10.5 |
100 or more |
1 |
4.4 |
|
Item |
Age of Beneficiary |
Percentage Factor |
|
1 |
Under 65 |
4 |
|
2 |
65 - 74 |
5 |
|
3 |
75 - 79 |
6 |
|
4 |
80 - 84 |
7 |
|
5 |
85 - 89 |
9 |
|
6 |
90 - 94 |
11 |
|
7 |
95 or more |
14 |
Policy reference: SS Guide 4.9.3.30 Income Test Assessment of Asset-Tested Income Streams
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Last reviewed: 1 July 2011
