My wife is 67 & I'm 70. We have SMSF that started in 1980. I'm an employee & Sal Sac everything beyond my first $18K. We have been taking account based pensions for the past few years (yet to be calculated for this year.) Very recently, our accountant suggested we can stop the pensions and take lump sums. Portions will become taxable and should we die our non-dependent beneficiary benefits somehow. This is news to us and only as I understand him. (He's always in a rush and hard to contact.) Mixed up in this is something to do with the fact that our pensions are happily more than we need as some investments worked out well recently. I am hoping someone knows what our accountant is on about and can explain/clarify for us. I suspect it is something applicable to others.