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Don’t get left behind — get your pension documents in shape for 1 July 2017
DBA Lawyers has recently been inundated with requests for up to date pension documents.
Our suite of pension documents is fully up to date, including partial commutation documents with a tick-a-box option allowing the partial commutation of pension capital to just under a member’s personal transfer balance cap.
Also, changes to the Superannuation Industry (Supervision) Regulations 1994 (Cth) definition of an account-based pension became law on 27 March 2017 (the changes take effect from 1 July 2017). It is critical that account-based pension documentation caters for the change in definition so that the pension can stay within the legal limits both now and from 1 July 2017. If not, the pension exemption may be in jeopardy. DBA Lawyers has covered this issue in our documents for pensions that are currently on foot and also for pensions commenced after 30 June 2017. Many other document suppliers have not adequately catered for this.
Our tailored suites of pension documents cover:
- New pensions — commencement of a new account-based pension (‘ABP’) or transition to retirement income stream (‘TRIS’)
- Pension commutations (full or partial) — full or partial commutation of an ABP or TRIS (this includes the option of cashing lump sum asset(s) in specie, where applicable)
- Conversions of an existing TRIS to an ABP (typically where a condition of release with a nil cashing restriction is met), allowing the member to convert their TRIS to an ABP.
Click here to order pension documents.
For advisers looking to document a large number of pensions, commutations, etc, licensing of our documentation may be available on request.
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This article is for general information only and should not be relied upon without first seeking advice from an appropriately qualified professional.
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