Have been paid the minimum annual pension from super fund and then rolled over all the pension and super to a new fund. Advised by the new fund that I had to take a pro rata pension payment for the reminder of the financial year. I do not want to receive additional pro rata pension payment for the same financial year as I have met the minimum for my age group. The rollover process penalises by incurring an additional payment.
Advised by the new fund that I had to take a pro rata pension payment for the reminder of the financial year.
Correct - because it is a new pension.
Only exception is for pensions that start in June.
Hi Bruce
Can I apply to the ATO for a tax ruling as the minimum pension has been paid by the previous fund for the financial year and I am penalised by making a roll over into a new fund. In addition, I have reached the cap and cannot repay non concessional contributions . I did seek financial advise prior to the rollover to avoid exceeding the cap. Regards JanPension
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