if a SMSF member has 2 pension accounts one is her own pension and one is a reversionary pension commenced in prior year. can the reversionary pension been commuted and merge into 1 pension account?
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Hi @SuperTom,
If it's still within the same SMSF, we'd recommend you request SMSF specific advice. You can submit a request from here.
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What you propose would require both pension accounts to be commuted to accum within the SMSF.
A reversionary pension is a death benefit pension.
Death benefit pension accounts can be commuted to a lump sum benefit, or rolled over to another super fund on condition that the new super fund will immediately start a new death benefit pension.
There is no provision for commutation and addition to the accum account to start a new pension, because the new pension could not be a death benefit pension.
Yes. it is immediately to start the new pension so no balance will be going into the accumulation. Believe this approach has no breach of the cashing rule and pension standard?
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