Blog & Resources

Important considerations for Self Managed Superannuation Funds (SMSF) for the end of the financial year.

If you are receiving a pension from your SMSF, you (the trustee) must ensure that you have met the minimum pension requirements, per Clause 1 of Schedule 7 of the Superannuation Industry Supervision Regulations (SISR 1997).

This is done with the formula: account balance X percentage factor.

Account balance: Is the value of the pension on 1 July in the financial year in which the payment is made.

Percentage factor:  A table of percentage factors is outlined in Schedule 7 of SISR 1997.