Q: I started an account-based pension in July 2021 so I could access the higher transfer balance cap of $1.7 million that started from that time. Recently my accountant prepared the accounts for the 2021-22 financial year only to find the fund hadn’t paid the minimum amount equal to 3 per cent of the opening balance of $1.7 million, which was $51,000. I received a little over $30,000. In view of the relatively large underpayment, the fund auditor has reported the breach of the pension standards to the Australian Taxation Office. When the breach was pointed out to me in May 2023, I immediately paid $30,000 from the fund to correct the error. Now that this has been corrected and direct debit arrangements are in place, I assume that will be the end of it. Charlie

A: The ATO has made its position quite clear where it comes to a self-managed super fund failing to comply with any of the pension payment rules in the superannuation rules and regulations, says Graeme Colley, an executive manager with self-managed super administrator SuperConcepts.