How long will your retirement savings last? Model annual drawdowns, investment returns, and Age Pension income — updated for 2025–26 APRA minimum rates.
Felix can model multiple drawdown scenarios and optimize your retirement income strategy. Download Richify — free for Australians
Starting Balance
$600,000
Lasts To
100+
Years of Income
35+ years
| Age | Opening | Drawdown | Pension | Returns | Closing |
|---|---|---|---|---|---|
| 65 | $600,000 | -$55,000 | — | +$27,250 | $572,250 |
| 66 | $572,250 | -$55,000 | — | +$25,863 | $543,113 |
| 67 | $543,113 | -$27,156 | +$29,752 | +$25,798 | $541,755 |
| 68 | $541,755 | -$27,088 | +$29,752 | +$25,733 | $540,400 |
| 69 | $540,400 | -$27,020 | +$29,752 | +$25,669 | $539,049 |
| 70 | $539,049 | -$26,952 | +$29,752 | +$25,605 | $537,702 |
| 71 | $537,702 | -$26,885 | +$29,752 | +$25,541 | $536,357 |
| 72 | $536,357 | -$26,818 | +$29,752 | +$25,477 | $535,017 |
| 73 | $535,017 | -$26,751 | +$29,752 | +$25,413 | $533,679 |
| 74 | $533,679 | -$26,684 | +$29,752 | +$25,350 | $532,345 |
| 75 | $532,345 | -$31,941 | +$29,752 | +$25,020 | $525,424 |
| 76 | $525,424 | -$31,525 | +$29,752 | +$24,695 | $518,594 |
| 77 | $518,594 | -$31,116 | +$29,752 | +$24,374 | $511,852 |
| 78 | $511,852 | -$30,711 | +$29,752 | +$24,057 | $505,198 |
| 79 | $505,198 | -$30,312 | +$29,752 | +$23,744 | $498,630 |
| 80 | $498,630 | -$34,904 | +$29,752 | +$23,186 | $486,913 |
| 81 | $486,913 | -$34,084 | +$29,752 | +$22,641 | $475,470 |
| 82 | $475,470 | -$33,283 | +$29,752 | +$22,109 | $464,297 |
| 83 | $464,297 | -$32,501 | +$29,752 | +$21,590 | $453,386 |
| 84 | $453,386 | -$31,737 | +$29,752 | +$21,082 | $442,731 |
| 85 | $442,731 | -$39,846 | +$29,752 | +$20,144 | $423,030 |
| 86 | $423,030 | -$38,073 | +$29,752 | +$19,248 | $404,205 |
| 87 | $404,205 | -$36,378 | +$29,752 | +$18,391 | $386,218 |
| 88 | $386,218 | -$34,760 | +$29,752 | +$17,573 | $369,031 |
| 89 | $369,031 | -$33,213 | +$29,752 | +$16,791 | $352,609 |
| 90 | $352,609 | -$38,787 | +$29,752 | +$15,691 | $329,513 |
| 91 | $329,513 | -$36,246 | +$29,752 | +$14,663 | $307,930 |
| 92 | $307,930 | -$33,872 | +$29,752 | +$13,703 | $287,761 |
| 93 | $287,761 | -$31,654 | +$29,752 | +$12,805 | $268,912 |
| 94 | $268,912 | -$29,580 | +$29,752 | +$11,967 | $251,299 |
Felix can help optimise your drawdown strategy to maximise your retirement lifestyle while preserving your balance.
Plan Your Drawdown in Felix — Free| Age Range | Minimum Drawdown Rate | On $500K Balance |
|---|---|---|
| 55–64 | 4% | $20,000/yr minimum |
| 65–74 | 5% | $25,000/yr minimum |
| 75–79 | 6% | $30,000/yr minimum |
| 80–84 | 7% | $35,000/yr minimum |
| 85–89 | 9% | $45,000/yr minimum |
| 90–94 | 11% | $55,000/yr minimum |
| 95+ | 14% | $70,000/yr minimum |
Source: APRA. These are the standard minimum drawdown percentages for account-based pensions. The COVID-era 50% reduction has been fully unwound.
When you retire (from age 60 for most Australians), you can convert your super accumulation account into an account-based pension. This allows regular withdrawals at no tax — earnings in pension phase are tax-free, and withdrawals after age 60 are tax-free. You must withdraw at least the APRA minimum percentage each year, but there is no maximum.
From age 67, Australians who meet the assets and income tests can receive a full or part Age Pension. The full single pension is approximately $29,752/year (2025–26). For couples, the combined rate is $44,855/year. The Age Pension significantly reduces the amount you need to draw from your own portfolio, extending the life of your savings. Visit Services Australia for eligibility details.
APRA sets minimum drawdown rates based on your age at July 1 each financial year: ages 55–64: 4%, 65–74: 5%, 75–79: 6%, 80–84: 7%, 85–89: 9%, 90–94: 11%, 95+: 14%. These are minimums — you can withdraw more, but not less, from an account-based pension.
It depends on your balance, annual spending, investment returns, and whether you receive the Age Pension. For example, $500,000 in super with 5% returns and $50,000/year spending lasts approximately 14 years without the Age Pension. With a part Age Pension reducing your drawdown need, the same balance could last 20+ years.
The Age Pension is a government payment available from age 67 for Australians who meet the assets and income test. The full single Age Pension is approximately $29,752/year (2025–26). The full couple rate is $44,855/year. Your super and other assets reduce the pension amount under the assets test — visit Services Australia for a precise calculation.
Generally, financial planners suggest drawing from taxable investments first and preserving super, because super earnings in pension phase are tax-free. However, the optimal strategy depends on your individual tax position, Age Pension eligibility, and when you need the money. Always consult a licensed financial adviser for personalised drawdown strategy.
You can withdraw as much as you like from your super pension account — there is no maximum. However, drawing more than necessary can erode your balance faster and potentially reduce your Age Pension eligibility. The minimum drawdown rates ensure you are gradually converting your super into retirement income.
Join 15,000+ Australians who use Felix to model drawdown scenarios, track their super, and optimise their retirement strategy. Free download.
Download Richify — FreeAPRA sets minimum drawdown rates based on your age at July 1 each financial year: ages 55–64: 4%, 65–74: 5%, 75–79: 6%, 80–84: 7%, 85–89: 9%, 90–94: 11%, 95+: 14%. These are minimums — you can withdraw more, but not less, from an account-based pension.
It depends on your balance, annual spending, investment returns, and whether you receive the Age Pension. For example, $500,000 in super with 5% returns and $50,000/year spending lasts approximately 14 years without the Age Pension. With a part Age Pension reducing your drawdown need, the same balance could last 20+ years.
The Age Pension is a government payment available from age 67 for Australians who meet the assets and income test. The full single Age Pension is approximately $29,752/year (2025–26). The full couple rate is $44,855/year. Your super and other assets reduce the pension amount under the assets test — visit Services Australia for a precise calculation.
Generally, financial planners suggest drawing from taxable investments first and preserving super, because super earnings in pension phase are tax-free. However, the optimal strategy depends on your individual tax position, Age Pension eligibility, and when you need the money. Always consult a licensed financial adviser for personalised drawdown strategy.
You can withdraw as much as you like from your super pension account — there is no maximum. However, drawing more than necessary can erode your balance faster and potentially reduce your Age Pension eligibility. The minimum drawdown rates ensure you are gradually converting your super into retirement income.