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/ 'Defined benefit & market-linked pensions'

Legacy pensions highlight need for deferral of Division 296 commencement 

1 Jul 2025
As SMSF trustees and advisers grapple with the expected start of Division 296, a technical storm is brewing for clients holding legacy pensions. The introduction of new regulations from December 2024 has made the commutation of legacy income streams more attractive, however members may face significant costs due to how Division 296 tax assesses the total superannuation balance of these pensions.
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Santa delivers for legacy pension recipients 

10 Dec 2024
Amongst the drama from the last sitting days of parliament we nearly missed that a Regulation the SMSF industry has been waiting on was quietly registered by Stephen Jones, Assistant Treasurer and Minister for Financial Services, and its BIG NEWS for anyone with a legacy pension.
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MYEFO has (potential) hidden gem for legacy pensions

17 Dec 2020
The Federal Government released today its Mid-Year Economic and Fiscal Outlook (MYEFO), noting that the delayed 2020 Federal Budget was only released on 6 October 2020. There was an interesting proposed change to enable the partial commutation of certain non-commutable pensions included in the MYEFO papers.
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Defined benefit pension solvency issues expected

1 Jul 2020
SMSFs paying legacy defined benefit pensions require an actuarial valuation each year to ensure they remain solvent. Upcoming solvency tests will be based on asset values as at 30 June 2020. Despite a partial recovery in equity markets since the lows of March, prices have been impacted across almost all asset classes.
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Action needed on legacy pensions

24 Feb 2020
Various industry bodies, including the SMSF Association and the Tax Institute, have all raised the need for reform to help retirees trapped in legacy income streams in self-managed superannuation funds (SMSFs). The Actuaries Institute has now joined the chorus for change with its own submission to Treasury.
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