Pension - rollover FAQ

What happens when a pension is rolled over?

The pension is commuted and the commutation amount is applied as a payment to another superannuation fund and the other superannuation fund then issues a new pension to the member. If the pension is being fully rolled over (ie 100%), then the pension will terminate and the payment of the commutation amount to the other superannuation fund will terminate the superannuation interest which was supporting the pension. If the only superannuation interest of the member in the superannuation fund has been rolled over and the member will cease to be a member of the Superannuation fund.

What is the difference between a roll back, roll over and a cash out?

All three pension transactions involve a pension being commuted and an application of the lump sum (“the commutation amount”) which arises from the commutation. The difference between the three transactions relates to the application of the commutation amount.

Can account-based and transition to retirement pensions be rolled over?

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