The decision in this year’s federal budget to give individuals a two-year opportunity to commute legacy pensions has been well received by SMSF stakeholders.

SMSF members drawing a pension should still be making plans for the next financial year, despite being uncertain as to what levels the minimum drawdown amount may be set at.

Complying with the requirements of the SIS Regulations is the most important aspect when setting up a death benefit to be paid via a child pension.

The impending indexation to be applied to the general transfer balance cap has given the date from which a pension commences greater significance.

SMSF practitioners should follow certain key steps in order to maximise draw down benefits for members, a technical expert says.