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SMSF Updates

Attaining preservation age itself is not a condition of release
02 Aug, 2012

Attaining preservation age itself is not a condition of release with a “nil” cashing restriction. Therefore, superannuation benefits transferred to a transition to retirement pension will retain the preservation status they had before they were transferred, i.e. unrestricted non-preserved, restricted non-preserved and preserved. Once the member in SMSF meets a condition of release with a “nil” cashing restriction e.g. turning 65,superannuationĀ  benefits canĀ  be transferred to Unrestricted Non-Preserved.

At iCare Super, we provide you detailed Member Statements showing the different components of your superannuaiton benefits.

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