Q: Could you clarify whether there are restrictions on transferring super accounts when your pension in an industry fund includes a bonus? My industry fund offers a bonus when moving from accumulation to pension phase to recognise capital gains tax benefits, so it is worth staying in the fund until the transfer has been completed. But after that, I am unclear as to what restrictions may apply if I want to move to either another fund or an SMSF. The Australian Taxation Office information that I can find about account transfers all seems to relate to the accumulation phase. David

A: Bonus amounts of several thousand dollars granted by some industry super funds (as well as some retail funds) to their members when they begin a pension from their accumulated savings, can be an attractive entitlement and a reason to stay in the fund if you are either close to retirement or about to turn 65 and wish to start an income stream with your super provider.