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Making a pension non-reversionary

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DescriptionSoftcopy *
Standard documents - provides documents for one member of one SMSF, for up to 3 account-based pensions$330
Premium service - provides documents and a review of the SMSF's governing rules and the documents for one account-based pension to remove any reversionary nomination to make that pension non-reversionary. The premium service is generally recommended where the SMSF is not using a recent version of DBA Lawyers' governing rules or pension documents.
*An additional $110 applies for each extra account-based pension for the premium service
$660*
* Add $75 for hard copy per product
* Pricing includes GST

Overview

This service removes any reversionary nomination for account-based pensions.

There are a number of reasons why a member may want to make their pension non-reversionary including:

  • They have separated or divorced their spouse who is currently their nominated beneficiary who will obtain their pension when they die
  • They would prefer their death benefit be paid to their estate (ie, legal personal representative) and be dealt with in accordance with their will on their death
  • They may no longer have an eligible beneficiary to whom a death benefit can be paid in the form of a reversionary pension, eg, their spouse has already passed away

For more information on some of the key advantages and disadvantages of reverting a pension, click here.

For SMSFs that are currently using DBA Lawyers’ SMSF governing rules and/or pension documents, please note that:

  • Our SMSF deed has express powers for the trustee to make a reversionary pension non-reversionary. For further information on our SMSF deed, click here.
  • The service does not include a review of estate planning documents including any non-binding or binding death benefit nominations or similar documents. Naturally, it is important for these documents to be consistent with the non-reversionary nature of the pension.

Should you require non-reversionary pension documents for more than one member of an SMSF, please submit a second order form. An additional fee will apply for a second member.

What’s included

  • Member request
  • Trustee resolutions
  • Member notification

Other documents

DBA Lawyers can assist with preparing other relevant documents in respect of the removal of a reversionary nomination of pension including:

If you are completing a downloadable order form, please email the form to [email protected] when completed.

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