SISFA has recommended the government consider an excess pension payment refund for those who drew down their pension before a reduction was introduced.

The passing of a recent omnibus bill has restarted the clock for SMSFs to report when members have commuted a market-linked pension.

Tax-effective strategies associated with pensions need to be formulated before an income stream is commenced, a technical expert has said.

SMSF trustees are still unsure how to respond to whether their fund can use the segregated method when calculating the tax status of pension income.

The current market downturn may benefit SMSF members looking at starting a pension as fund balances come under restrictive limits.

Trustees selling an asset segregated to a retirement income stream should document that strategy in advance to avoid ATO scrutiny over any capital gains.