SMSF practitioners are still searching for ways to extinguish pension reserves in an SMSF that are no longer needed.

Adverse tax outcomes can result from full commutations of pensions involving in-specie transfers, a technical services manager has warned.

The government’s move to allow the partial commutation of certain non-commutable pensions has been welcomed by the SMSF Association.

A potential solution for situations where a new market-linked pension gives rise to a transfer balance cap breach has been included in the government’s Mid-Year Economic and Fiscal Outlook.

Circumstances where an adult child is nominated as the recipient of a reversionary pension could leave the intended beneficiary empty handed, a legal expert has said.

The cashing of a death benefit can be executed using an in-specie transfer, a technical services manager has said.

Moving pension reserves into an SMSF member’s account is still possible as long as it is allocated correctly and the cost of switching is considered.