Update – Term Allocated Pensions (TAP) reduced minimums
This is an amendment to our recent communication to Advisers regarding the continuation of reduced minimums for TAP clients.
TAP clients can reduce the pension drawdown amounts applied to their TAP by up to 50%.
This is aligned with the approach for account-based pension clients and the TAP pension payment relief approach for the financial year 2020/2021, and reflected in the Product Update – Minimum Pension Relief continues into 2021/22.
Any Questions?
If you have any questions or require further information, please:
This information is issued by OnePath Custodians Pty Limited (OPC) (ABN 12 008 508 496, AFSL 238346, RSE L0000673. OPC is a member of the IOOF group of companies, comprising IOOF Holdings Limited (ABN 49 100 103 722) and its related body corporates. IOOF and its related bodies corporate (including OPC) and associated entities do not guarantee the repayment of capital, the performance of, or any rate of return of an investment with OPC. The Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522) brand is a trademark of ANZ and is used by OPC under licence from ANZ. ANZ and the IOOF Group of companies (including OPC) are not related bodies corporate. ANZ does not guarantee these products. An investment is subject to investment risk, including possible delays in repayment and/or loss of income and principal invested. Past performance is not an indication of future performance.
The information provided in this document is for the use of Advisers only and is of a general nature only and cannot be provided to investors or members without OPC’s permission.