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Date of article: 19 July 2010
Last updated: 19 July 2010
Extention of 50 per cent reduction in minimum pension drawdown
The Government will continue the 50 per cent reduction in the minimum payment amount for account-based pension, allocated and market-linked pensions for the 2010-11 financial year.
The 2010-11 financial year minimum pension factor:
| Age of member | Minimum Pension Factor (Ordinary) | 2010-11 Minimum Pension Factor |
| Under 65 | 4% | 2 % |
| 65 - 74 | 5% | 2.5 % |
| 75 - 79 | 6% | 3 % |
| 80 - 84 | 7% | 3.5 % |
| 85 - 89 | 9% | 4.5 % |
| 90 - 94 | 11% | 5.5 % |
| 95 and Over | 14% | 7 % |
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