Deferred lifetime annuities

The government announced on 5 April 2013 further superannuation reforms.

This specific measure is designed to encourage the take-up of deferred lifetime annuities by providing these products with the same concessional tax treatment that applies to investment earnings on super assets supporting retirement income streams from 1 July 2014.

This reform will give retirees more choice by assisting those who wish to ensure financial security in their later years by allocating part of their super to a product that will provide an ongoing income stream beyond a certain age.

This measure is part of a package of reforms to improve the fairness, sustainability and efficiency of the super system.

Media release

For more information, refer to the media release number 020/2013External Link issued on 5 April 2013 by the Deputy Prime Minister and Treasurer, and the Minister for Financial Services and Superannuation.

Further information

More information

For more information refer the Budget 2013-14 Budget paper No 2External Link (PDF 3.41MB) - page 40.

End of further information
    Last modified: 16 Jul 2014QC 35650