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Kate_Cao(Newbie)Newbie
17 Sept 2024

My client has a market linked pension which was converted from a complying lifetime pension in 2009. Any one knows if she is able to convert the market linked pension to an accumulation phase to withdraw it as a lump sum or convert it to an account-based pension?

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Bruce4Tax(Taxicorn)Taxicorn
17 Sept 2024

Not until the market linked pension reaches the end of its fixed term.


See complying pensions heading in

https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/in-detail/smsf-resources/smsf-technical-pensions/pension-standards-for-self-managed-super-funds#ato-Commutations


This may change next year - see exposure draft legislation on legacy pensions released by Assistant Treasurer today.

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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
17 Sept 2024

Not until the market linked pension reaches the end of its fixed term.


See complying pensions heading in

https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/in-detail/smsf-resources/smsf-technical-pensions/pension-standards-for-self-managed-super-funds#ato-Commutations


This may change next year - see exposure draft legislation on legacy pensions released by Assistant Treasurer today.

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Can you commute or convert a market link pension to an account based pension? | ATO Community