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Pensions

We offer a range of services to assist accountants/trustees in providing for the payment of a pension from a self managed superannuation fund.

Services available include:

 

Advising on Pension Issues

We provide advice on pension issues, including strategies before commencement of a pension, identification of the types of pensions available and their suitability for particular circumstances.  We also advise on how to structure to ensure maximum benefit is obtained.  Where appropriate, advice on the commutation of pensions can also be provided.

Costs
Fees would generally be charged at the rate of $475 per hour including GST.

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Documenting Commencement of an Account Based Pension

We can assist when commencing an account based pension from a self managed fund.  Our level of involvement would depend upon the needs of the accountant or trustees but could include:

  • Review of trust deed to ensure fund can pay an account based pension
  • Review of member’s circumstances to ensure able to access benefits
  • Calculation of pension components including tax free proportion
  • Calculation of minimum pension requirements for the first year
  • Preparation of member request for payment, trustee minutes and statutory declarations (if applicable)
  • Preparation and lodgement of ATO paperwork including TFN declarations and PAYG withholding registration (for members under age 60 only)
  • Provision of Product Disclosure Statements

Ongoing assistance with the yearly pension requirements can also be provided if required.

Costs
Our fee for documenting the commencement of an account based pension is $660 per pension including GST for members under age 60 and $440 per pension including GST for members aged 60 or over.  Additional fees are charged if a trust deed amendment is required.

To Request
If you would like us to document the commencement of an account based pension please

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Documenting Commencement of a Market Linked Pension

We can also assist when commencing a market linked pension from a self managed fund.  Again our level of involvement would depend upon the needs of the accountant or trustees but could include:

  • Review of trust deed to ensure fund can pay a market linked pension (Note almost all deeds executed prior to September 2004 would require amendment before a market linked pension could be paid)
  • Review of member’s circumstances to ensure able to access benefits
  • Calculation of term of pension
  • Calculation of pension required to be paid in the first year
  • Preparation of member request for payment, trustee minutes and statutory declarations (if applicable)
  • Preparation and lodgement of ATO paperwork including TFN declarations and PAYG withholding registration (for members under age 60 only)
  • Provision of Product Disclosure Statements

Ongoing assistance with the yearly pension requirements can also be provided if required.

Costs
Our fee for documenting the commencement of a market linked pension is $660 per pension including GST.  Additional fees are charged if a trust deed amendment is required.

To Request
If you would like us to document the commencement of a market linked pension please

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Documenting Commencement of a Transition to Retirement Income Stream

We can also assist with the commencement of a transition to retirement income stream (TRIS).  A TRIS is a form of account based pension and would be used for members who have reached their preservation age (eg age 55) but not yet retired or reached age 65.  Our level of involvement would depend upon the needs of the accountant or trustees but could include:

  • Review of trust deed to ensure fund can pay a Transition to Retirement Income Stream
  • Review of member’s circumstances to ensure able to access benefits
  • Calculation of pension components including tax free proportion
  • Calculation of minimum and maximum pension requirements for the first year
  • Preparation of member request for payment, trustee minutes and statutory declarations (if applicable)
  • Preparation and lodgement of ATO paperwork including TFN declarations and PAYG withholding registration (for members under age 60 only)
  • Provision of Product Disclosure Statements

Ongoing assistance with the yearly pension requirements can also be provided if required.

Costs
Our fee for documenting the commencement of a TRIS is $660 per pension including GST for members under age 60 and $440 per pension including GST for members aged 60 or over.  Additional fees are charged if a trust deed amendment is required.

To Request
If you would like us to document the commencement of a TRIS please

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