A complying defined benefit pension is a non-commutable income stream. Generally, a member cannot commute a non-commutable income stream and pay out the benefits as a lump sum. There are limited instances when a member can commute a complying defined benefit pension and one such occasion is when the proceeds are used to commence another complying income stream.
There are only two types of complying income streams now available to members wishing to commute their complying defined benefit pensions. The two complying income streams are:
- Webinar slides
The following information sheet summarises the critical information that should be considered when commuting a complying defined benefit pension.
- Information sheet
The following case studies explore the impact of commuting an asset test exempt complying pension on a client’s Age Pension entitlements and retirement sustainability.
- Case study: Commuting a complying lifetime pension
- Case study: Commuting a complying life expectancy pension
This section provides more information on market linked pensions for those clients who wish to commute their complying pension into a market linked pension.
This section provides more information on Challenger’s complying annuity. You can obtain a complying annuity quote from adviser online or alternatively contact us for more information.