Our pension reset documentation facilitates the commutation of existing Transition to Retirement Income Stream (TRIS) or Account Based Pensions (ABP) back to the accumulation account prior to a new pension being commenced. This documentation is typically used where a member has multiple pension accounts and wishes to consolidate their accounts into the one pension account or, when the member wishes to revoke or advise a Reversionary Pension Nomination. Consideration should be given to the tax components found within each pension prior to initiating the commutation / rollback to the accumulation phase.
Feel free to contact our office at 1800 799 666 if you wish to discuss prior to ordering.
We offer this service using our standard PDF forms.
Please complete, scan and email the form to our office.
Our service includes the preparation of documentation to facilitate the commutation of nominated pension(s) prior to the establishment of a new TRIS or ABP. Prior to ordering you will need to ensure that the current fund deed allows for the commutation and new pension to be established. If the fund has an older deed, or if you are unsure whether to the deed has sufficient power, then it’s recommended that you first update the SMSF deed which is available as separate order from this website. We rely on your instructions that the deed has sufficient power, that the member has satisfied an appropriate condition of release and considers the commutation and pension establishment appropriate for their circumstances and estate planning needs or has received financial advice advising the same. The documentation also provides the ability for the member to make a Reversionary Nomination to a nominated dependant and we rely on your instructions that any such nomination is valid at the time of pension commencement.
- Member application requesting the commutation and pension commencement
- Trustee Acknowledgement of the request being received
- Trustee minutes in relation to the pension reset request being received
- Pension Summary Sheet with Minimum Pension Calculation where commencement amount has been advised
- Pension commencement Checklist
- Pension Agreement between the Member and Trustee
- Pension Product Disclosure Statement (PDS)
- Trustee minutes in relation to commutation and pension commencement