Below you'll find a list of all posts that have been categorized as “SMSF Pension”
Allocated Pensions is a partially outdated term that refers to an income stream provided by accumulated superannuation funds upon retirement. This type of pension was prevalent within an industry super fund, retail super fund or self managed superannuation fund (SMSF) amongst others. In order to draw the income from the allocated pension, a calculation based on minimum and maximum life …
Have you met the minimum pension payment for the financial year? In the Draft Taxation Ruling 2010/D3 the ATO proposed a position that if a superannuation fund did not meet the minimum pension payments for a member in a given year, then the fund could not treat that member balance amount to be in pension phase from the beginning of …
There are two types of Pensions you can set up in a SMSF which are Account Based Pension & Transition to Retirement Pension. Many clients are confused as to which Pension they should start. However, the fact is that there is really no choice. Depending on your age and your work status, you can only set up one or another. …