Retirement Benefits Fund
RBF Pensions are not reducing
You may have read in the media about some Government changes to superannuation rules, as part of the COVID-19 stimulus package. One of these changes was reducing the minimum drawdown rates, meaning some account based pension payments could reduce. This change does not impact your Defined Benefit RBF Life Pension and your pension will not be reduced.
Further information on RBF Life Pensions is available in our Fact Sheet - Contributory Scheme - Life Pension.
COVID-19 early release
On 22 March 2020 the Australian Government announced changes to provide financial assistance to Australians to support them through the Coronavirus. Part of this assistance includes temporary early release of superannuation.
Compulsory Preserved Accounts (CPA), Investment 12 accounts and CPA12 accounts are the only RBF account types that are eligible for COVID-19 early release payments.
If you are an active contributor to your defined benefit account or hold a Family Law non member spouse entitlement, then you are not eligible for early release, and any approval provided by the ATO will not be valid and RBF will decline your application.
Active members of the Contributory Scheme, the Fire and Ambulance Schemes and our life pensioners are not eligible to access any of their benefit under these arrangements.
For further details on these measures, please click here.
Compulsory Preservation Account (CPA) benefit estimates are now available online