Income Stream

Financial Year Ending 30th June	2013
Financial Year Start Date	1/07/2012
Financial Year End Date	30/06/2013

Preservation Age

'Preservation age' is the age at which an income support recipient may be able to gain access to preserved benefits held in approved deposit funds, deferred annuities and superannuation. For most income support recipients, the preservation age is currently 55.

From 2015 to 2025, the preservation age will gradually increase from 56 to 60 years for income support recipients born after 1 July 1960. The preservation age for income support recipients born after 30 June 1964 will be 60 years.

Born before 1 July 1960	55
Born 1 July 1960 to 30 June 1961	56
Born 1 July 1961 to 30 June 1962	57
Born 1 July 1962 to 30 June 1963	58
Born 1 July 1963 to 30 June 1964	59
Born after 30 June 1964	60

Income Stream Tax

Tax on income stream payments depends on age. Medicare levy is additional.

Tax Free Component Rate

Maximum Tax Rate

0.00 %

Taxable Component - Taxed Element Rates

Under preservation age	Marginal Rate
Preservation age to age 59	Marg Rate with 15% offset
Age 60 and over	0.00 %

Taxable Component - Untaxed Element Rates

Age 59 and under	Marginal Rate
Age 60 and over	Marg Rate with 10% offset

Super Income Stream Tax Offset

Australian superannuation income streams recipients may be entitled to a tax offset dependent on age or if a death/disability benefit applies.

Taxable Component - Taxed Element

Eligible Age	Preservation Age
Tax Offset Rate	15.00 %

Taxable Component - Untaxed Element

Eligible Age	60
Tax Offset Rate	10.00 %

Relevant Numbers for Centrelink

Payments Commenced on or after 01/01/2010

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	31.43	35.17	70	14.76	17.42	90	4.36	4.91
51	30.53	34.24	71	14.04	16.61	91	4.11	4.57
52	29.63	33.31	72	13.33	15.82	92	3.89	4.27
53	28.73	32.38	73	12.64	15.03	93	3.69	3.99
54	27.84	31.45	74	11.96	14.27	94	3.51	3.75
55	26.95	30.53	75	11.31	13.51	95	3.36	3.53
56	26.08	29.61	76	10.68	12.78	96	3.22	3.33
57	25.20	28.70	77	10.07	12.05	97	3.10	3.16
58	24.34	27.79	78	9.48	11.35	98	2.99	3.00
59	23.48	26.89	79	8.92	10.67	99	2.90	2.86
60	22.63	26.00	80	8.38	10.01	100	2.81	2.74
61	21.79	25.11	81	7.86	9.37	101	2.73	2.63
62	20.96	24.23	82	7.36	8.75	102	2.66	2.54
63	20.14	23.35	83	6.89	8.17	103	2.60	2.46
64	19.34	22.48	84	6.45	7.61	104	2.54	2.38
65	18.54	21.62	85	6.03	7.08	105	2.49	2.32
66	17.76	20.76	86	5.64	6.58	106	2.44	2.26
67	16.99	19.92	87	5.27	6.11	107	2.40	2.20
68	16.24	19.08	88	4.94	5.68	108	2.35	2.15
69	15.49	18.24	89	4.63	5.28	109	2.30	2.09

Payments Commenced on or after 01/01/2005 to 31/12/2009

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	30.39	34.51	70	14.08	17.08	90	4.74	5.33
51	29.49	33.58	71	13.41	16.29	91	4.54	5.03
52	28.59	32.66	72	12.75	15.53	92	4.36	4.75
53	27.69	31.73	73	12.11	14.78	93	4.19	4.50
54	26.80	30.82	74	11.50	14.05	94	4.03	4.28
55	25.92	29.91	75	10.90	13.33	95	3.87	4.07
56	25.05	29.00	76	10.32	12.63	96	3.73	3.88
57	24.19	28.10	77	9.77	11.94	97	3.60	3.71
58	23.34	27.21	78	9.24	11.27	98	3.47	3.55
59	22.49	26.32	79	8.73	10.61	99	3.35	3.40
60	21.66	25.44	80	8.24	9.98	100	3.24	3.26
61	20.84	24.57	81	7.77	9.38	101	3.14	3.13
62	20.04	23.71	82	7.32	8.81	102	3.04	3.01
63	19.24	22.85	83	6.89	8.27	103	2.94	2.90
64	18.46	22.00	84	6.48	7.76	104	2.85	2.79
65	17.70	21.15	85	6.11	7.28	105	2.77	2.69
66	16.95	20.32	86	5.77	6.83	106	2.69	2.60
67	16.21	19.49	87	5.47	6.41	107	2.61	2.52
68	15.48	18.67	88	5.20	6.02	108	2.54	2.43
69	14.78	17.87	89	4.95	5.66	109	2.47	2.35

Payments Commenced on or after 01/01/2000 to 31/12/2004

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	28.64	33.11	70	12.80	15.90	90	4.16	4.67
51	27.74	32.18	71	12.17	15.14	91	3.99	4.39
52	26.85	31.26	72	11.56	14.40	92	3.86	4.15
53	25.97	30.34	73	10.96	13.67	93	3.73	3.93
54	25.09	29.43	74	10.38	12.96	94	3.62	3.72
55	24.22	28.53	75	9.82	12.26	95	3.50	3.54
56	23.36	27.63	76	9.27	11.58	96	3.39	3.37
57	22.52	26.74	77	8.74	10.92	97	3.28	3.21
58	21.68	25.86	78	8.24	10.28	98	3.18	3.07
59	20.86	24.98	79	7.76	9.67	99	3.07	2.93
60	20.05	24.11	80	7.30	9.09	100	2.98	2.81
61	19.25	23.25	81	6.87	8.53	101	2.88	2.70
62	18.46	22.39	82	6.46	8.00	102	2.79	2.59
63	17.70	21.54	83	6.08	7.48	103	2.71	2.50
64	16.94	20.70	84	5.73	7.00	104	2.64	2.41
65	16.21	19.88	85	5.40	6.53
66	15.49	19.06	86	5.10	6.10
67	14.79	18.25	87	4.82	5.69
68	14.11	17.46	88	4.57	5.32
69	13.44	16.67	89	4.53	4.98

Payments Commenced on or after 01/01/1996 to 31/12/1999

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	27.48	32.32	70	12.14	15.37	90	3.93	4.59
51	26.59	31.40	71	11.54	14.64	91	3.72	4.30
52	25.71	30.49	72	10.95	13.92	92	3.52	4.04
53	24.84	29.58	73	10.39	13.22	93	3.34	3.81
54	23.98	28.68	74	9.84	12.53	94	3.19	3.60
55	23.13	27.78	75	9.31	11.87	95	3.05	3.41
56	22.30	26.90	76	8.80	11.22	96	2.93	3.24
57	21.47	26.02	77	8.32	10.60	97	2.84	3.09
58	20.66	25.14	78	7.86	9.99	98	2.76	2.94
59	19.87	24.27	79	7.42	9.41	99	2.70	2.82
60	19.09	23.42	80	7.00	8.85	100	2.64	2.69
61	18.32	22.57	81	6.60	8.31	101	2.59	2.58
62	17.57	21.72	82	6.23	7.80	102	2.55	2.47
63	16.83	20.89	83	5.87	7.31	103	2.51	2.36
64	16.12	20.07	84	5.54	6.84	104	2.47	2.26
65	15.41	19.26	85	5.23	6.40
66	14.73	18.45	86	4.93	5.99
67	14.06	17.66	87	4.66	5.60
68	13.40	16.89	88	4.40	5.24
69	12.76	16.12	89	4.15	4.90

Payments Commenced on or after 01/05/1993 to 31/12/1995

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	26.28	31.43	70	11.46	14.77	90	3.79	4.37
51	25.41	30.52	71	10.89	14.06	91	3.64	4.10
52	24.55	29.62	72	10.33	13.37	92	3.50	3.86
53	23.70	28.73	73	9.80	12.69	93	3.37	3.65
54	22.86	27.84	74	9.28	12.02	94	3.24	3.45
55	22.04	26.96	75	8.78	11.37	95	3.12	3.27
56	21.23	26.08	76	8.30	10.75	96	3.00	3.11
57	20.44	25.22	77	7.84	10.14	97	2.89	2.97
58	19.65	24.35	78	7.40	9.55	98	2.78	2.84
59	18.89	23.50	79	6.98	8.98	99	2.67	2.72
60	18.13	22.65	80	6.58	8.44	100	2.57	2.62
61	17.39	21.81	81	6.20	7.92	101	2.47	2.51
62	16.67	20.98	82	5.84	7.42	102	2.38	2.41
63	15.96	20.16	83	5.50	6.95	103	2.29	2.31
64	15.27	19.35	84	5.50	6.51	104	2.20	2.22
65	14.60	18.56	85	4.89	6.09
66	13.93	17.77	86	4.62	5.69
67	13.29	17.00	87	4.38	5.32
68	12.66	16.24	88	4.16	4.98
69	12.05	15.50	89	3.97	4.66

Payments Commenced on or after 01/09/1988 to 30/04/1993

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	25.12	30.70	70	10.81	14.26	90	3.47	4.11
51	24.28	29.80	71	10.27	13.56	91	3.28	3.85
52	23.45	28.91	72	9.75	12.87	92	3.11	3.61
53	22.63	28.02	73	9.25	12.19	93	2.94	3.38
54	21.82	27.14	74	8.77	11.53	94	2.80	3.18
55	21.02	26.27	75	8.31	10.89	95	2.66	2.99
56	20.24	25.40	76	7.86	10.27	96	2.54	2.81
57	19.47	24.55	77	7.44	9.67	97	2.43	2.64
58	18.71	23.70	78	7.03	9.09	98	2.32	2.49
59	17.96	22.85	79	6.64	8.54	99	2.23	2.35
60	17.23	22.02	80	6.27	8.01	100	2.13	2.22
61	16.52	21.20	81	5.92	7.50	101	2.04	2.10
62	15.81	20.38	82	5.58	7.02	102	1.96	1.99
63	15.13	19.58	83	5.26	6.57	103	1.88	1.89
64	14.46	18.78	84	4.96	6.14	104	1.81	1.81
65	13.80	18.00	85	4.67	5.74
66	13.17	17.22	86	4.40	5.37
67	12.55	16.46	87	4.14	5.02
68	11.95	15.72	88	3.91	4.69
69	11.37	14.98	89	3.68	4.39

Payments Commenced on or after 01/07/1983 to 31/08/1988

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	24.05	29.53	70	10.31	13.52	90	3.45	4.02
51	23.23	28.65	71	9.79	12.84	91	3.31	3.79
52	22.42	27.77	72	9.30	12.18	92	3.19	3.59
53	21.62	26.91	73	8.82	11.53	93	3.09	3.41
54	20.83	26.04	74	8.35	10.90	94	3.01	3.25
55	20.06	25.19	75	7.91	10.29	95	2.94	3.11
56	19.30	24.34	76	7.48	9.70	96	2.88	3.00
57	18.55	23.51	77	7.07	9.13	97	2.83	2.90
58	17.82	22.68	78	6.68	8.59	98	2.77	2.82
59	17.10	21.85	79	6.31	8.07	99	2.72	2.77
60	16.40	21.04	80	5.95	7.58	100	2.67	2.72
61	15.71	20.24	81	5.62	7.11	101	2.62	2.67
62	15.04	19.45	82	5.30	6.67	102	2.58	2.62
63	14.39	18.66	83	5.00	6.25	103	2.53	2.57
64	13.75	17.89	84	4.72	5.86	104	2.48	2.53
65	13.13	17.13	85	4.45	5.49
66	12.53	16.38	86	4.21	5.15
67	11.95	15.65	87	3.99	4.83
68	11.38	14.93	88	3.79	4.54
69	10.84	14.22	89	3.61	4.27

Payments Commenced Before 01/07/1983

Age	Male	Female	Age	Male	Female	Age	Male	Female
50	22.87	28.10	70	9.51	12.39	90	3.15	3.73
51	22.05	27.23	71	9.03	11.74	91	3.02	3.52
52	21.25	26.37	72	8.56	11.12	92	2.90	3.33
53	20.46	25.51	73	8.12	10.51	93	2.79	3.14
54	19.68	24.66	74	7.69	9.93	94	2.69	2.97
55	18.92	23.82	75	7.29	9.36	95	2.60	2.81
56	18.18	22.99	76	6.90	8.82	96	2.52	2.65
57	17.45	22.16	77	6.54	8.30	97	2.44	2.51
58	16.73	21.35	78	6.19	7.80	98	2.38	2.37
59	16.03	20.54	79	5.85	7.33	99	2.31	2.25
60	15.35	19.74	80	5.52	6.88	100	2.25	2.13
61	14.69	18.95	81	5.21	6.45	101	2.20	2.02
62	14.04	18.17	82	4.92	6.06	102	2.15	1.91
63	13.41	17.41	83	4.64	5.69	103	2.10	1.82
64	12.81	16.65	84	4.38	5.35	104	2.06	1.72
65	12.21	15.90	85	4.13	5.03
66	11.64	15.17	86	3.89	4.74
67	11.08	14.45	87	3.67	4.46
68	10.54	13.75	88	3.48	4.20
69	10.02	13.06	89	3.30	3.96

Percentage Factors

These allowable minimum payment limits may be applied to ALL allocated and account based income streams from 1 July 2007, irrespective of their commencement date.

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.

For account-based pensions there is no maximum limit.

Minimum Payment Rates	(% of account bal)
Aged 55 to 64	3.00 %
Aged 65 to 74	3.75 %
Aged 75 to 79	4.50 %
Aged 80 to 84	5.25 %
Aged 85 to 89	6.75 %
Aged 90 to 94	8.25 %
Aged 95 or over	10.50 %

Pension Valuation Factors

Payments Commenced on/after 1 Jan 2006 up to 19 Sep 2007

Age	Max	Min	Age	Max	Min	Age	Max	Min
50	12.00	22.80	70	8.40	15.10	90	1.00	6.60
51	11.90	22.50	71	8.00	14.60	91	1.00	6.30
52	11.80	22.20	72	7.60	14.20	92	1.00	6.00
53	11.80	21.80	73	7.20	13.70	93	1.00	5.80
54	11.70	21.50	74	6.70	13.30	94	1.00	5.50
55	11.50	21.10	75	6.20	12.80	95	1.00	5.30
56	11.40	20.80	76	5.70	12.30	96	1.00	5.10
57	11.30	20.40	77	5.10	11.90	97	1.00	4.90
58	11.20	20.10	78	4.50	11.40	98	1.00	4.70
59	11.00	19.70	79	3.80	10.90	99	1.00	4.50
60	10.90	19.30	80	3.10	10.50	100	1.00	4.40
61	10.70	18.90	81	2.30	10.00
62	10.50	18.50	82	1.40	9.60
63	10.30	18.10	83	1.00	9.10
64	10.10	17.70	84	1.00	8.70
65	9.90	17.30	85	1.00	8.30
66	9.60	16.80	86	1.00	7.90
67	9.30	16.40	87	1.00	7.50
68	9.10	16.00	88	1.00	7.20
69	8.70	15.50	89	1.00	6.90

Pension Valuation Factors

Payments Commenced before 1 Jan 2006

Age	Max	Min	Age	Max	Min	Age	Max	Min
50	9.90	21.50	70	6.60	13.50	90	1.00	5.50
51	9.90	21.20	71	6.20	13.10	91	1.00	5.30
52	9.80	20.90	72	5.80	12.60	92	1.00	5.00
53	9.70	20.50	73	5.40	12.20	93	1.00	4.80
54	9.70	20.10	74	4.80	11.70	94	1.00	4.60
55	9.60	19.80	75	4.30	11.30	95	1.00	4.40
56	9.50	19.40	76	3.70	10.80	96	1.00	4.20
57	9.40	19.00	77	3.00	10.40	97	1.00	4.00
58	9.30	18.60	78	2.20	10.00	98	1.00	3.80
59	9.10	18.20	79	1.40	9.50	99	1.00	3.70
60	9.00	17.80	80	1.00	9.10	100	1.00	3.50
61	8.90	17.40	81	1.00	8.70
62	8.70	17.00	82	1.00	8.30
63	8.50	16.60	83	1.00	7.90
64	8.30	16.20	84	1.00	7.50
65	8.10	15.70	85	1.00	7.10
66	7.90	15.30	86	1.00	6.80
67	7.60	14.90	87	1.00	6.40
68	7.30	14.40	88	1.00	6.10
69	7.00	14.00	89	1.00	5.80

Payment Factors Table

Used for social security purposes for market-linked income streams.

Term	Factor	Term	Factor	Term	Factor	Term	Factor	Term	Factor	Term	Factor	Term	Factor
70	26.00	60	24.94	50	23.46	40	21.36	30	18.39	20	14.21	10	8.32
69	25.91	59	24.82	49	23.28	39	21.10	29	18.04	19	13.71	9	7.61
68	25.82	58	24.69	48	23.09	38	20.84	28	17.67	18	13.19	8	6.87
67	25.72	57	24.55	47	22.90	37	20.57	27	17.29	17	12.65	7	6.11
66	25.62	56	24.41	46	22.70	36	20.29	26	16.89	16	12.09	6	5.33
65	25.52	55	24.26	45	22.50	35	20.00	25	16.48	15	11.52	5	4.52
64	25.41	54	24.11	44	22.28	34	19.70	24	16.06	14	10.92	4	3.67
63	25.30	53	23.96	43	22.06	33	19.39	23	15.62	13	10.30	3	2.80
62	25.19	52	23.80	42	21.83	32	19.07	22	15.17	12	9.66	2	1.90
61	25.07	51	23.63	41	21.60	31	18.74	21	14.70	11	9.00	1	1.00