min max pension letter allocated pension - transition to retirement (ttr)

MIN MAX PENSION LETTERALLOCATED PENSION - TRANSITION TO RETIREMENT (TTR)11 June 2009Client nameAddress 1Address 2Account number: Your estimated pension amount for 2009/10 financial yearDear As you are invested in , your allowable income is between a minimumand maximum amount and is calculated each year based on your account balance. Theserules are set by the Federal Government.New rules for the 2009/10 financial yearIn the 2009 budget, the Federal Government announced that the minimum pensionpayment amounts for pre-retirement pensions may be reduced by 50% for the 2009/10financial year. For example, if your minimum annual pension payment is currently 4% ofyour account balance, in the 2009/10 financial year it will be 2% of your accountbalance. If you have already elected to be paid the minimum amount, for the 2009/10financial year you are likely to see a reduction in the minimum pension payment amountwe must pay you. There are no changes to the maximum pension payment amount andthis remains at 10%. Your new pension payment amount is estimated below.On the basis of the Federal Government’s announcement, it is anticipated that thisreduction in minimum pension payments will only apply to the 2009/10 financial year andin future years may revert to the existing pension payment rules.If you wish to change your pension payment for the 2009/10 financial year toany amount between the new minimum and maximum estimated below, pleasecomplete the form enclosed and return to us in the reply paid envelope providedby 30 June 2009, for your pension details to be updated for the new financialyear.What is my current pension payment amount?You have previously selected to receive from your pension, each.For this financial year (which ends 30 June 2009) we estimate you will be paid in total pension payments (including tax).What is my estimated new pension payment amount for 2009/10?We have estimated your new level of income based on the total value of your investmenton 30 May 2009. This is a guide to what you might receive in the new financial yearstarting 1 July 2009.