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.

SMSF members must have the correct documentation in place to support their treatment of pension payments taken before and after 24 March, a technical expert has warned.

SMSF tax losses carried forward from a prior year will need to take into account the calculation of exempt current pension income if the proportionate method has been used to do so, a technical leader has said.

The costs of maintaining legacy pensions are more than they are worth and it would cost the government nothing to transition to modern products.