Death benefits can be hard to turn off in a superannuation environment and may even become a burden for members who don’t want them.

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.