It is a legal requirement for a TRIS recipient to receive a minimum pension payment of 4% of the members account balance in any income year, but also importantly, no more than a maximum of 10%.
Any member of a SMSF with a Transition to Retirement Income Stream should apply to the Trustee of the Fund detailing their preferred income payment for the year. There is no need to set down payment dates simply proposed payment amounts. This ensures that there is an income stream in existence. The Trustee can then confirm the Member’s application and make a binding resolution.
► $49.00 (inc GST) – OR provided under your unlimited membership (exc ASIC fee)
► The master document has been signed off by Abbott & Mourly and is congruent with Australian law.