While requesting my accumulation accounts to be combined. My reversionary Choice Pension Account was also closed and deposited back into accumulation. I did not request this. My fund told me the ATO made the request and I have now lost that account. Who do I contact as I now have lost my income stream.
Unfortunately, it sounds like you need to go back to Australian Super. You have indicated that the reversionary pension was stopped and moved to accumulation phase. Under the legislation, as this amount is a death benefit, it cannot be moved into the accumulation phase. It also cannot be pooled with your own personal superannuation savings.
Here is link from ATO website which includes the following information:
Death benefits can be rolled into another fund. However, the new fund must start a death benefit income stream or pay the amount out of super as a lump sum (or a combination of these). The death benefit cannot be retained in accumulation phase. Death benefits that are rolled over will not lose their death benefit tax treatment.
Superannuation death benefits | Australian Taxation Office (ato.gov.au)
Another issue raised is that Australian Super has indicated that the ATO made the request. It can arise if the total amount you hold in the retirement phase of super (the 0% tax environment) exceeds your transfer balance cap. This looks at all superannuation savings that are held in the super income streams (such as a defined benefit income stream or account based pensions). If this has occurred, the ATO would have contacted you in the first instance. the super fund is only approach after a set period of time where you have not either objected to that determination or no election has been made.
Excess transfer balance | Australian Taxation Office (ato.gov.au)
I appreciate that our super system is rather complex. Hopefully your super fund can assist in providing general guidance, particularly in relation to the reversionary income stream.
You are not able to simply add additional funds to an existing pension account.
There are two options if you already have a pension account and want to transfer other funds from accumulation to pension.
The first is to to close the existing pension account, sending the balance to an accumulation account, and then transfer the amount you want to a new pension account.
The second is to leave the pension account as is and start a second pension account with the funds from the accumulation account.
You will need to contact your fund to get this sorted out.
Thank you for your advice. I may not have explained myself well. The reversionary account was an account I only have as I am a widow. My late husband set this up prior to his death as he was over 60. I am not over 60 but enjoy the tax exemptions attached to this account as his dependant. I would never close this account but somehow when asking for my personal accumulation accounts at Unisuper and Australian Super to be transferred into one due to new employment they also closed my husbands Choice Pension Account. Spoke to Australian Super there response was a bit like tough luck could have been a computer glitch. I have been advised to contact the ATO so I will see. Bit of a nightmare.
My biggest concern if I cant reverse the action what consequences will there be putting money from a Pension Stream Account back into Accunulation
Unfortunately, it sounds like you need to go back to Australian Super. You have indicated that the reversionary pension was stopped and moved to accumulation phase. Under the legislation, as this amount is a death benefit, it cannot be moved into the accumulation phase. It also cannot be pooled with your own personal superannuation savings.
Here is link from ATO website which includes the following information:
Death benefits can be rolled into another fund. However, the new fund must start a death benefit income stream or pay the amount out of super as a lump sum (or a combination of these). The death benefit cannot be retained in accumulation phase. Death benefits that are rolled over will not lose their death benefit tax treatment.
Superannuation death benefits | Australian Taxation Office (ato.gov.au)
Another issue raised is that Australian Super has indicated that the ATO made the request. It can arise if the total amount you hold in the retirement phase of super (the 0% tax environment) exceeds your transfer balance cap. This looks at all superannuation savings that are held in the super income streams (such as a defined benefit income stream or account based pensions). If this has occurred, the ATO would have contacted you in the first instance. the super fund is only approach after a set period of time where you have not either objected to that determination or no election has been made.
Excess transfer balance | Australian Taxation Office (ato.gov.au)
I appreciate that our super system is rather complex. Hopefully your super fund can assist in providing general guidance, particularly in relation to the reversionary income stream.
10 Apr 2025 · 4 min read time
8 June 2023 · 2 min read time
28 Aug 2025 · 5 min read time
5,875 views
3 replies