News : Pensions

Legislation, Pensions, SMSF, Superannuation

Safe to act on legacy pensions now

SMSF members can act with confidence that any moves to exit a legacy pension now cannot be undone even if parliament winds back the changes later this year.

read more
Pensions, SMSF, Superannuation

Pension payment standing orders fine

It is possible to put standing orders in place at the commencement of an income year to treat drawdowns above the minimum pension as lump sums.

read more
Pensions

Legacy pensions won’t create debt

Legacy pension holders will not face any social security debt if they choose to commute their income stream, but will lose any asset text exemptions.

read more
Pensions

Act cautiously with pension amnesty

SMSF Self-managed super Heffron Meg Heffron Legacy pensions Asset test exemption transfer balance cap commutations

Using the five-year amnesty to commute a legacy pension will require caution where the new rules interact with other superannuation, tax and social security laws.

read more
Pensions, SMSF

Legacy pension amnesty endorsed

The amnesty regarding legacy pensions has been applauded by the SMSF Association, but it has been noted the measure has fallen short in some areas.

read more
Pensions

Legacy pension exits hinge on Div 296 progress

A plan to allow legacy pension exits may be derailed if the Division 296 tax does not become a reality as the former is designed to ease the application of the latter.

read more
Pensions

Discretion timing may worsen breaches

SMSF members seeking ATO discretion regarding failures to pay minimums may find response times get in the way of taking immediate action to address the problem.

read more
Pensions

No barrier to changing pension providers

Super fund members are not restricted from changing pension providers, but should ensure the rollover retains any benefits and is a like-for-like transition.

read more
Pensions

Two pensions not always a burden

Super fund members looking to combine pensions may prefer to alter them to gain tax advantages that may not exist under a single income stream.

read more
Pensions, Superannuation

Govt unveils retirement-phase changes

The government will make changes to the products available in the retirement phase of super as part of a wider agenda focused on the drawdown period.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.