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.

Death benefits can be hard to turn off in a superannuation environment and may even become a burden for members who don’t want them.

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

SMSF members drawing a pension should still be making plans for the next financial year, despite being uncertain as to what levels the minimum drawdown amount may be set at.