This year sees an increase of the general transfer balance cap from $1.9m to $2m.
This means that a pension commencing from 1 July 2025, for a pensioner who has not commenced a pension previously, will have a transfer balance cap of $2m. The convoluted calculation of the personal transfer balance cap’s indexation will be applied to other pensioners, who will need to access their MyGov to determine the amount.
Contribution caps will not increase, however the application of the NCC 3 year bring forward rule will alter as it is predicated on the general transfer balance cap. Effectively, all the pivot points will increase by $100,000 as per the table below.
To 30 June 2025
| TSB @ 30 June 2024 | Max NCC |
| Less than $1.66m | $360,000 |
| $1.66m to under $1.78m | $240,000 |
| $1.78m to under $1.9m | $120,000 |
| $1.9m and over | $0 |
From 1 July 2025
| TSB @ 30 June 2025 | Max NCC |
| Less than $1.76m | $360,000 |
| $1.76m to under $1.88m | $240,000 |
| $1.88m to under $2m | $120,000 |
| $2m and over | $0 |
