Technically Speaking: Legacy Pensions – Market Linked Income Streams

The final bulletin of our three-part series to support members navigate the complexities associated with legacy pensions, particularly in light of new and proposed legislative changes.

Click here to view Part 1 and Part 2 of the series.

This edition of Technically Speaking written by Julie Steed (FSSA), Senior Technical Services Manager at Australian Executor Trustees is the last piece of the puzzle in understanding the treatment of legacy pensions on death.

The bulletin looks at:

  • Legacy pension wind-up options and whether members have the option to access part of their benefit or exit SMSFs that are no longer suitable.
  • The opportunities of commuting a lifetime or life expectancy pension to start a market linked income stream.
  • Planning to avoid dealing with the distribution of reserves following a member’s death.
  • The Social Security consequences of restructuring legacy pensions and more.

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