Transition to retirement
The income streams above are all generally non-commutable. However, cash commutations may be made in the following circumstances:
- To pay a super contributions surcharge.
- To pay a non-member spouse under a Family Law payment split.
- To ensure a payment may be made under a Release Authority or Transitional Release Authority.
- To cash an unrestricted non-preserved benefit, following a condition of release with a 'nil' cashing restriction, eg retirement or reaching age 65.
Generally, the value of a commutation is not counted towards the 10% of account balance limit for transition to retirement income payments.
Note: The last two commutation conditions generally do not apply to complying income streams, which remain non-commutable.
Last modified: Thursday, January 11, 2018