Changes to the way exempt current pension income is calculated are pending, but the industry does not seem to be in total agreement on the final method that should be implemented. Mark Ellem, head of education at Accurium reveals the surprising sentiment practitioners have expressed on the subject.
The proposed changes to the exempt current pension income (ECPI) rules are slated to come into effect from 1 July 2021, after being delayed 12 months from an original implementation date of 1 July 2020. With no draft legislation released by mid-April, it’s possible there will be a further delay to the start date.
These latest proposals are intended to reduce complexity. However, some commentators have noted they have the potential to do the exact opposite…
This article appears in full in issue 34 of selfmanagedsuper magazine.