Once you’re over age 60, generally the payments you take out of your Rest Pension retirement account are tax free.
Amount and frequency
How much you take out and how often depends entirely on you but there is a minimum amount you must take out. This depends on your age and account balance, calculated at the beginning of each financial year. For example, if you’re aged between 65 and 74 you’re required to withdraw at least 5% of your account balance. You can also change your payment amount and frequency easily online through MemberAccess.
Where your payments are drawn from
If you have your pension invested in more than one investment option, you can choose from which investment option you'd like either your pension income stream or a lump sum withdrawal to come from. This can be done by selecting one of the following: