50% Reduction in Minimum Pension Payments in 2019-20 and 2020-21 FY’s

Hi Baby Boomers!

If you have an account based pension you may now take out 50% of the minimum pension income for the 2019-20 and 2020-21 financial years. This can help reduce the amount you take out of your pension account in a depressed (falling) market.

This means you would have most likely met the new reduced 50% minimum pension income for this financial year (2019-20) and if you are in a position that you can live off money from your bank account or other reserves then it may be a good option for you to preserve your pension balance. Please give me a call or email and I can speak to you individually about your circumstances.

Below is a 2 minute video I recorded this morning from my home office to explain this. The four legged friend making an appearance in the video is our dog Charlie, she is a 12 year old Pugalier 🙂

Direct Link: https://youtu.be/fE9Qx0QLPM8

Stay Safe & Happy Investing

Aaron Kane

Financial Adviser & Managing Director

EK Financial Group