Pension restructures – Sail into the sunset

Technical Summit 2022

With the results of the federal election now finalised, the previous government’s 2021 Budget announcement of a two year amnesty to commute legacy pensions may now be awash. Even if an amnesty does eventuate, there are many strategies that practitioners can implement now that can greatly benefit clients. The April 2022 legislative changes requiring commutation of certain benefits provide further opportunity for some members to restructure their legacy pensions.

In this session we will use a series of case studies to review:

• Changes to the commutation rules for excess transfer balance amounts – high tide to low tide!
• The issues that arise when clients die – drowning not waving!
• How reserves can be dealt with – swimming with and against the tide!

Pension restructures - Sail into the sunset

Technical Paper

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association