The reduced minimum pension that will now apply for the 2022 financial year is not restricted to account-based pensions.

The minimum pension drawdown rate will remain at 2.5 per cent for another year as the government extends this COVID-19 relief measure for retirees.

Two years after announcing changes to ECPI, the government has released draft legislation for industry consultation on the move.

The government has clarified how the proposed work test and non-concessional contribution bring-forward rules outlined in the budget will operate.

The decision in this year’s budget to give individuals a two-year opportunity to commute legacy pensions has been well received by SMSF stakeholders.