The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

4.9.5.70 Payment Factors for Market-Linked Income Streams

Summary

This topic contains the payment factors (PF) for market-linked income streams contained in Schedule 6 'Payments for market-linked income streams' of the Superannuation Industry (Supervision) Regulations 1994.

Note: These payment factors, specified under section 9BA(5), are given effect for social security purposes by the Social Security (Asset-test Exempt Income Stream (Market-linked) - Payment Factors) (FaCS) Principles 2005.

The following table shows the payment factors for income support recipients according to the product's remaining term at purchase, or on 1 July each year.

Term PF Term PF Term PF Term PF
70 or more 26.00 50 23.46 30 18.39 10 8.32
69 25.91 49 23.28 29 18.04 9 7.61
68 25.82 48 23.09 28 17.67 8 6.87
67 25.72 47 22.90 27 17.29 7 6.11
66 25.62 46 22.70 26 16.89 6 5.33
65 25.52 45 22.50 25 16.48 5 4.52
64 25.41 44 22.28 24 16.06 4 3.67
63 25.30 43 22.06 23 15.62 3 2.80
62 25.19 42 21.83 22 15.17 2 1.90
61 25.07 41 21.60 21 14.70 1 1.00
60 24.94 40 21.36 20 14.21    
59 24.82 39 21.10 19 13.71    
58 24.69 38 20.84 18 13.19    
57 24.55 37 20.57 17 12.65    
56 24.41 36 20.29 16 12.09    
55 24.26 35 20.00 15 11.52    
54 24.11 34 19.70 14 10.92    
53 23.96 33 19.39 13 10.30    
52 23.80 32 19.07 12 9.66    
51 23.63 31 18.74 11 9.00    

Act reference: SSAct section 9BA(5) Total amount payable in each financial year-general rule

Policy reference: SS Guide 4.9.2.15 Characteristics of asset-test exempt income streams purchased from 20/9/2004 & before 20/09/2007, 4.9.2.30 Income test assessment of asset-test exempt income streams

Last reviewed: