Uploaded by LawCentralVideo on Nov 27, 2007
Question: We have clients who want to move their Super from "Accumulation Phase" to the "Pension Phase". They are ready to retire. I have never done one before.
Answer: I am not sure if your clients are in retail funds or Self Managed Super funds. However, our superannuation lawyer Narelle Pierce, has set out the process which is the same for both:
1. you, as the member, notify the Fund that you wish to start the pension
2. you confirm the Conditions of Release
3. you decided what type of pension you want (there are 2 main choices) and frequency of payment (usually monthly or yearly)
4. the Trustees of the Fund meet to agree to begin paying the pension - attend to any other associated matters
5. the Trustees confirm in writing the amount and frequency of the pension payment
6. the Trustees provide a Product Disclosure Statement setting out the terms of the pension
There are a number of documents to complete to establish the pension. The best way to breathe life into this process is to read the free hints for the Pension Pack at LawCentral www.lawcentral.com.au. Start building the Pension Pack to read all the hints. Start building the LawCentral "Pension Pack".
The Pension Pack has all required applications, minutes, Product Disclosure Statement and notices required for your clients to move from the Accumulation Phase to the Pension Phase. The Pension Pack also has explanatory notes to guide you through the process. It takes about 12 to 36 minutes depending if you read all of the hints. Start building the Pension Pack at LawCentral www.lawcentral.com.au.
Category:
Tags:
- Pension
- Self
- Managed
- Super
- Fund
- SMSF
- Pack
- PDS
- Product
- Disclosure
- Statement
- Superannuation
- Accountant
- LawCentral
License:
Standard YouTube License
-
0 likes, 0 dislikes
7:03
Pension Fund Shortfalls? PONZI FINANCE!by kdenninger4,835 views
0:58
Self Managed Super Funds - SMSF or DIY Super Fundsby Kimguanson664 views
5:15
Daughter joins your Self Managed Super Fundby LawCentralVideo663 views
0:48
011-Kazan-Centre-Ring-Pension Fundby persykit873 views
7:22
MIKE SHIELDS FOR PENSION BOARD TRUSTEEby trigbyp78,524 views
4:46
Pension Funds Fuel High Energy Prices - July 7, 2008by RightSideAdvisors240 views
2:26
Ed Balls on Labour's pension tax grabby WatTyler4,966 views
4:35
Gearing residential property in your Super Fundby LawCentralVideo1,326 views
4:17
OBAMA & GOVERNOR ROD BLAGOJEVICH DIRTY CHICAGO POLITICS RUINS AMERICA!by obamaunderground4,230 views
4:28
Starting A Hedge Fund, Turn Key Hedge Funds, Hedge Fund Start upby starthedgefund18,225 views
0:56
The Pension Fund Rum Swizzleby MotleyFoolUK2,875 views
4:02
Wife goes down with company - husband skips awayby LawCentralVideo217 views
1:58
Financial planner payments: "management fees" or loans?by LawCentralVideo213 views
4:01
About ASC's Pension Software - ASPPA 2009by actuarialSC124 views
3:40
Protect Your Social Security & Pension From Creditors - Learn How!by DavidCarrierShow281 views
2:58
Contractor Pensionsby TarponLtd1,777 views
0:57
Superannuation Investing in Australia for Retirementby Kimguanson1,751 views
2:51
Union pension bailoutby bertly71398 views
2:41
Contractor Pensions, there are several options to considerby TarponLtd838 views
6:12
Pensions not Povertyby nmwebteam914 views
- Loading more suggestions...
Link to this comment:
All Comments (0)