Federal Register of Legislation - Australian Government

Primary content

Regulations as made
This instrument amends the Retirement Savings Accounts Regulations 1997 and Superannuation Industry (Supervision) Regulations 1994 to extend the temporary reduction in minimum payment amounts for account based pensions, allocated pensions and market linked pensions (and for the equivalent annuity products) by half for the 2022-23 financial year.
Administered by: Treasury
Registered 01 Apr 2022
Tabling HistoryDate
Tabled HR26-Jul-2022
Tabled Senate26-Jul-2022
To be repealed 26 Oct 2022
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms of Australia

 

Superannuation Legislation Amendment (Superannuation Drawdown) Regulations 2022

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 31 March 2022

David Hurley

Governor‑General

By His Excellency’s Command

Jane Hume

Minister for Superannuation, Financial Services and the Digital Economy

 

 

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Retirement Savings Accounts Regulations 1997                                                                             2

Superannuation Industry (Supervision) Regulations 1994                                                           2

 


1  Name

                   This instrument is the Superannuation Legislation Amendment (Superannuation Drawdown) Regulations 2022.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

2 April 2022

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the following:

                     (a)  the Retirement Savings Accounts Act 1997;

                     (b)  the Superannuation Industry (Supervision) Act 1993.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

  

Retirement Savings Accounts Regulations 1997

1  Clause 3A of Schedule 1

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

2  Clause 3A of Schedule 1A

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

3  Clause 10 of Schedule 4

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

4  Clause 3A of Schedule 5

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

Superannuation Industry (Supervision) Regulations 1994

5  Clause 3A of Schedule 1A

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

6  Clause 3A of Schedule 1AAB

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

7  Clause 10 of Schedule 6

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.

8  Clause 4A of Schedule 7

Omit “and 1 July 2021,”, substitute “, 1 July 2021 and 1 July 2022,”.