Lump sum benefit payments FAQs

This Lump Sum Benefit Payments information sheet provides a broad overview of the restrictions placed on trustees when paying lump sum benefits to members.

It  provides information on superannuation interests, including preserved elements, restricted and unrestricted non-preserved elements as well as providing answers to important questions such as:

• When can a lump sum be paid
• Taxable,  tax free and untaxed elemenst of the taxable component
• Member's Age/Access Condition
• Medicare Levy