No – a transition to retirement pension cannot be cashed as a lump sum. There is a minimum that has to be taken of 4% and the maximum that can be withdrawn is 10%. However, the withdrawal rate can be compounded. For example, a Trustee has $100,000 in his Super Fund. He withdraws a transition to retirement pension of 10%, leaving $90,000 left in the Super Fund. In the same year, he can take out another 10% of the remaining amount of $90,000.
We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.
Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.
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We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.
Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.
