A self-managed super fund (SMSF) must pay a minimum amount each year to a member who is receiving a pension that commenced on or after 20 September 2007. These are mainly account based pensions (also known as a super income stream).
If you haven't already, then you'll need to make sure all members receiving an account-based pension are paid their minimum pension amount by 30 June. This is calculated by applying the relevant percentage factor based on the member's age by the member's pension account balance calculated as of 1 July 2024 or on a pro-rata basis if the pension commenced part way through the 2024–2025 financial year.
If the minimum payment is not made by 30 June, this could result in adverse taxation consequences for the member.
You can learn more about how to calculate your member's minimum pension payment by visiting minimum pension standards.
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