NANDINA, Tried to copy and paste from the email and this is what...

  1. 338 Posts.
    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.




 
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