Q: Can you explain the conditions or requirements pertaining to lump sum withdrawals from a self-managed super fund in pension mode?
A: If you have a pension in place, any payment that is made out of that pension account must always be treated as a pension payment. It can’t be treated as anything else than a pension payment. Unless before that payment gets made, the member sends in or gives the trustees a written request to treat the payment as something else, such as a lump sum.
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