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Superannuation Pensions: Current Options

Published on 12 Aug 2003 | Took place at Leonda by the Yarra, Hawthorn , VIC

With the strong growth in superannuation, particularly in SMSFs, practitioners are increasingly being requested to advise on the tax treatment of pensions both from the perspective of the member and the fund.

This session was committed to the tax treatment of Superannuation Pensions and related estate planning issues, including technical discussion of key issues and discussion style workshop sessions designed to provide a practical understanding of the issues.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Retirement alternatives - the fundamentals

Author(s):  David FOULDS This presentation explores the retirement alternatives available, including lump sum payments, allocated pensions and complying pensions, and provides a detailed understanding of the fundamental issues associated with their tax treatment, including:
- reasonable benefit limit issues
- eligible service periods (including pre 1983)
- taxation of ETP's
- taxation of pensions
- rebate calculations
- reversionary pensions
- commuting pensions
- internal roll-overs (the new legislative changes)
- lump sum withdrawals and recontributions prior to commencing pensions.

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Allocated pensions

Author(s):  Chris KETSAKIDIS Allocated pensions are the most popular form of drawing retirement income but they are not without their faults. This seminar paper looks at their advantages and disadvantages including cash flow requirements and succession planning considerations.

It also works through a series of examples illustrating practical issues and provides a checklist of issues to consider regarding allocated pensions.

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Complying pensions

Author(s):  de Lancey WORTHINGTON This seminar paper provides an analysis of fixed term (or life expectancy) and lifetime pensions, including pension and RBL issues, the treatment of reserves and the taxation treatment of superannuation funds. It also covers the set up and compliance issues of complying pensions and what action is needed if the fund's investments are not performing as expected and the pension payments cannot continue to be paid as initially projected by the actuary. This should help to understand the actuary's role in developing strategies, certifying pensions and as a whistle blower for breaches.

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Estate Planning & Pensions

Author(s):  Daniel BUTLER This presentation focusses on the implications of using different types of pensions and how to succeed to a pension upon death. Unless this is understood, various traps can be encountered. For example, a lifetime pension may not allow any lump sum payments whereas an allocated and fixed term pension may. There are also the family law and the other practical issues to consider when designing appropriate retirement and pension strategies and how these may be locked in by a binding death benefit nomination.

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