Pension - partial cash out

$88.00 - single use | no legal review

This document set permits an account-based or retirement phase TRIS pension to be partially commuted and the commutation amount to be cashed out as a lump sum. 

Please note:   This document set should not be used for market linked or defined benefit pensions.

A partial (ie less than 100%) cash out of the pension will result in a portion of the superannuation interest underlying the pension to be paid as superannuation lump sum.  The portion of the superannuation interest not cashed out will continue to support the reduced pension.

A transition to retirement pension (a retirement phase TRIS pension) moves into retirement phase when the member has met a condition of release with nil cashing restriction (eg retirement or reaching age 65).  The trustee of the super fund has to be informed that the pension is in retirement phase, except for the condition of release where the member has reached age 65. 

A transition to retirement pension which is not in retirement phase cannot use this template as transition pension benefits are made up of preserved or restricted non-preserved components.

This template is not suitable if the cash-out is a full cash out (ie 100%).  In this case use the Pension - Full Cash Out template.  A full cash out of the pension will terminate the pension.

This set provides all of the documents required to partially cash out an account based or retirement phase TRIS pension in retirement phase and includes:

• Pension variation checklist
• Request for partial cash out
• Written resolutions

Please note:  This online order form provides a complete set of documents for one member only.  To place an order for a different member, please submit a new set of instructions.

For assistance please call the SUPERCentral Help Desk on 02 8296 6266 or make an enquiry.

To access our pension cashing out FAQ please click here.