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Peter Burgess

Beware this easily overlooked pension rule with serious consequences

The ATO does not take kindly to SMSFs underpaying minimum pensions.

Peter BurgessContributor

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It should be straightforward, but it’s surprising how many self-managed superannuation funds paying an account-based pension fall foul of the minimum annual pension payment requirements.

With about 35 per cent of the 616,400 funds in retirement phase (and another 10 per cent transitioning to retirement), the numbers are significant – and so are the potential penalties.

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Peter Burgess is CEO of the SMSF Association.

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    Original URL: https://www.afr.com/policy/tax-and-super/beware-this-easily-overlooked-pension-rule-with-serious-consequences-20240816-p5k31v