If there’s something all laws have in them, it’s unintended consequences. The introduction of the transfer balance cap (TBC) is no exception. It’s got them, just like fleas on a dog’s back.

Portfolio allocation needs change over time. Do you still need a big house for your children? Do you want to move to be closer to family? Has your spending declined or increased? Have your retirement goals changed?

SMSF trustees who have had to roll back some of their fund assets from pension to accumulation phase to comply with the $1.6 million transfer balance cap may have inadvertently given access to a portion of their retirement savings benefits to unwanted parties upon death, according to a technical expert.