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The Federal Government announced its 2020-21 budget which, unsurprisingly, was dominated by big spending measures to address the impact of COVID-19 on the economy and getting people back into work.

To assist retirees, the Government has temporarily reduced the minimum annual drawdown rates for FY20-21 by 50%.

The government recently introduced new rules regarding insurance in super, designed to ensure members’ super balances aren’t eroded by unnecessary insurance premiums.

The COVID-19 outbreak continues to cause market volatility. Mine Super remains committed to helping our members throughout this time.