Q: I’m a self-funded retiree and about to turn 60. I would like to make a $390,000 contribution to my accumulation super, $30,000 concessional plus $360,000 non-concessional using the bring-forward rule. Can I immediately, after making these contributions, transfer my accumulation super to a pension account, or do I need to wait three years due to the bring-forward?
A: There’s a few little issues that we need to look at here. The 30 second answer is no, you don’t need to wait your three years. If you’ve met a condition of release which allows you access to your money, you could start a pension if you meet those conditions of release. But there are, of course, some other bigger issues that we need to keep in mind.
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