Government provides green light for commutation of asset test exempt legacy pensions

If you’ve been tracking the evolving world of legacy retirement products and their interaction with social security assessments, a key piece of the puzzle has just landed—the Social Security (Waiver of Debts – Legacy Product Conversions) Specification 2025. Released on 28 March 2025, this legislative instrument seeks to resolve an otherwise awkward policy conflict that…

Smarter SMSF launches new Legacy Pension Hub to assist with regulatory changes

FOR IMMEDIATE RELEASE Smarter SMSF Launches New Legacy Pension Hub to Assist with Regulatory Changes Smarter SMSF is pleased to announce the launch of its new Legacy Pension Hub, designed to assist professionals in navigating the recent regulations regarding the exit of certain retirement legacy products. The Legacy Pension Hub, integrated into the Smarter SMSF…

Draft regulations released for SMSF legacy pension conversions

The recently released Exposure Draft of Treasury Laws Amendment Instrument 2024 – SMSFs – legacy retirement product conversions and reserves marks a significant shift in how legacy retirement products are managed within the self-managed superannuation fund (SMSF) sector. Specifically, the regulations relax commutation restrictions on certain superannuation income streams and allow for more flexible management…