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Reversionary Pension and SMSF closure.

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Weecy, 1st Oct, 2015.

  1. Weecy

    Weecy New Member

    Joined:
    1st Oct, 2015
    Posts:
    1
    Location:
    Perth, WA
    Hi,

    Just want to know what will happen to a reversionary pension if the SMSF is closed and the pension is rolled into a Wholesale Pension account if the person receiving the reversionary pension has not met conditions of release??

    Is it possible??

    What are the consequences?

    Thanks.
     
  2. Christianrenel

    Christianrenel Active Member

    Joined:
    13th Jan, 2015
    Posts:
    31
    Location:
    Sydney
    Hi Weecy,

    You are able to roll a Self Managed Super Fund into a Retail superannuation fund. By doing this you will have commenced a new income stream, therefore a new beneficary form would need to be filled in.

    Under the new Centrelink rules, rolling out of one pension to other pension (new product), may be impact centrelink benefits, this is a new product for centrelink purposes.

    I can be contacted on the number below for more information.

    Christian Renel

    christiannrenel@pricefinancial.com.au


    02 9875 2444