Key superannuation rates and thresholds

Allocated pension payments minimum and maximum limits

Up to 30 June 2007, the rules governing allocated pensions allowed for payments between the minimum and maximum limits. To obtain the limits, the pension account balance was divided by each of the maximum and the minimum pension valuation factors in the schedule matching the recipient's age.

The table below is an extract from Schedule 1AAB of SISR which sets out the maximum and minimum pension valuation factors for pensions commencing from 1 January 2006.

Age of beneficiary	Maximum pension valuation factor	Minimum pension valuation factor
63	10.3	18.1
64	10.1	17.7
65	9.9	17.3
66	9.6	16.8
67	9.3	16.4
68	9.1	16.0

For pensions that commenced before 1 January 2006, different pension valuation factors apply. Transitional rules also applied for the period between 1 January 2006 and 30 June 2006.

Sections within Other super rates and thresholds

• Deduction limits based on the age of the employee or individual
• Allocated pension payments minimum and maximum limits
• Pension valuation factors
• Low rate threshold - post-June 1983 components of ETPs
• Tax-free part of bona fide redundancy payments and approved early retirement scheme payments limits
• Reasonable benefit limits
• Superannuation contributions surcharge
• 10-year Treasury bond rate
• Average weekly ordinary time earnings (AWOTE)