Account based pensions | Accurium

Technical article
The ‘Simpler Super’ reforms of 2007 introduced a new type of pension called an ‘account-based pension’ as the primary pension product offered through superannuation. An account-based pension is a regular income stream that you receive in your retirement or when you reach preservation age. It is drawn from your super benefits and has a requirement to make regular payments. This article discusses the details of what is an account-based pension and what you need to know when commencing one of these pensions in an SMSF.

Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.