Profession up in arms as complex pension issue lingers

Various technical quirks surrounding transition to retirement income streams remain unresolved, and Treasury is now being lobbied to correct the matter which impacts SMSF clients.

The introduction of legislation last year to allow transition to retirement pensions to convert to retirement phase, where a member has satisfied a condition of release, has resulted in complications where a beneficiary receives a reversionary TRIS upon the death of a member, but the beneficiary has not met a condition of release themselves.

Read the full article on Accountants Daily.

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