NANDINA, Tried to copy and paste from the email and this is what came out. It is a technical bulletin from ING.
21 July 2010: Minimum pension payments halved for 2010/11 becomes law
The 50% reduction to the minimum income stream drawdown rates for the 2010 /11 financial year is now law . The reduced rates apply to account based pensions, transition to retirement pensions and market linked income streams (term allocated pensions) and allocated pensions. The reduction does not apply to non-account based income streams such as lifetime and life expectancy complying pensions. Where an income stream commences part-way through the current financial year, the pro-rata minimum uses the reduced percentages. Technical Bulletin 31 'Superannuation: Income streams' provides more information on the reduction and is available from Adviser Advantage.
Hope this helps, but might pay to look into it further - as you can see this was dated the 21st, and you were speaking to them on the 22nd - so someone is playing chinese whispers.
