Lifetime pensions

Lifetime pensions (or lifetime annuities) are a guaranteed income stream for a person’s lifetime and maybe the spouse’s lifetime too.

Set out below are SuperGuide articles explaining Lifetime pensions.

DIY super: Age Pension relief for SMSF lifetime pensions

September 18, 2009
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In March 2009, SuperGuide reported that certain SMSF lifetime pensions would receive a reprieve from repaying Age Pension entitlements when failing a solvency test (see Light relief for  SMSF lifetime pensions). The solvency test is conducted by an actuary who assesses whether the SMSF has a strong … [Read more...]

Light relief for SMSF lifetime pensions

March 31, 2009
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Note: Draft legislation is now available on the relief outlined in this article. You can find more recent information on this issue, including changes to the relief offered to SMSFs, by reading DIY super: Age Pension relief for SMSF lifetime pensions. Defined benefit pensions, such as lifetime … [Read more...]