Published on 12 Aug 03
by VICTORIAN DIVISION, THE TAX INSTITUTE
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.