Adhering to the maximum drawdown limit of a transition-to-retirement income stream is not as simple as paying out 10 per cent of the pension’s value.

Super fund members can redirect benefit payments to other bank accounts despite some funds imposing artificial barriers to prevent these movements.

Higher income thresholds for the Commonwealth Seniors Health Card have opened the ability to make changes to older pensions without losing the card.

SMSF trustees should establish consistent rules as to whether payments in excess of the minimum pension are treated as lump sums.