Government to fix commutation rules for market linked pensions

As part of the Government’s Mid Year Economic & Fiscal Outlook (MYEFO) released in December 2020, we have seen a proposed measure announced to amend the law to enable market linked pensions and defined benefit pensions to undertake a partial commutation of amounts in excess of the member’s transfer balance cap. https://budget.gov.au/2020-21/content/myefo/download/myefo-2020-21.pdf (refer to page…