Back-dating pension commencement – is this permitted?

It is not possible to backdate the commencement of a pension. However, if the trustee and the member have informally agreed that a pension would commence from a particular date in a financial year (typically, 1 July for obvious reasons) and, in fact, pension payments are made in that financial year and the aggregate of the pension payments

Guest User19 August 2024FINANCIAL ADVISOR ADELAIDE, FINANCIAL PLANNER ADELAIDE, SUPERANNUATION ADELAIDE, PENSION PLANNING ADELAIDE, RETIREMENT PLANNING ADELAIDE, ACCOUNT BASED PENSION ADELAIDEComment

Transition to Retirement Pension

Superannuation can be used to start an account based pension once a person retires (or meets another condition of release). This allows income to be received as a series of regular payments (usually monthly, quarterly, half yearly, or yearly).