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Minimum Pension Payment Rates (2025/2026)

July 01 2025
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When you have a Rest Pension account, you need to withdraw a minimum amount each year. You’ll find the minimum rate that applies to you below.

This doesn't apply to Rest Term Allocated Pensions - log on or view your Annual Statement for your minimum or maximum.

What is a minimum pension payment rate?

The minimum pension payment rate is the amount you’re required to withdraw from your Rest Pension Retirement or Transition to Retirement account each year. The payment amount is based on your balance on 1 July, and a percentage set out below based on your age.

When you first apply, the pension payment is based on: your opening balance, your age and the number of days remaining in the financial year. The minimum payment amount is pro-rated based on the days remaining in the financial year.

Minimum pension payment rates

Your age on 1 July or commencement of pension*

Minimum payment rate
(% of account balance)

Younger than 65

 4
65-74 5
75-79 6
80-84 7
85-89 9
90-94 11
95 or older 14

Minimum pension payment example

The following example shows a minimum pension payment for a member starting their Rest Pension during a financial year.

Starting account balance of pension         $300,000
Member age 67
Minimum annual percentage
(based on member age and table above)		 5%
Pension starts 1 March
Days remaining in financial year 1 July minus 1 March = 122 days
Minimum Annual Pension Payment Account balance x minimum annual percentage x days remaining in financial year / days in the financial year.

And rounded to the closest $10.

$300,000 x 5% x 122 / 365 = $5,010
Pension Payment Frequency Monthly (as chosen by you).

Monthly payments are paid on 20th of the month. For this example there will be four monthly payments of $1,252.

On 1 July the minimum will be recalculated.

*If your account starts in June, you don’t need to take the minimum payment in that financial year, therefore delaying your first payment until the following financial year.

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