Which comes first, contribution acceptance or caps?
Accumulation & contributions
The changes made to the contribution acceptance rules have been in place for over a year now. The ‘work test’ for those aged 67 to 75 (up to 28 days after the end of the month of turning 75) was removed from the contribution acceptance rules in the SIS Regulations, along with the work test exemption rule, from 1 July 2022. No longer does a fund trustee need to consider the work status of a member in this age bracket when accepting a contribution that is not a mandated employer or downsizer contribution....
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