HomeFree weekly newsletterFree newsletter archiveContact usLogin
Self Managed Super Fund (SMSF) Article
How to Set up a pension - Step 8
By Tony Negline.
This article may be out of date.
18th November 2010
The trustee must make sure pension payments are made on time.
To make sure pension payments are actually made on time, it is handy for a trustee to set up a direct debit facility that transfers the net of income tax payments from their bank account to the member’s nominated bank account.
Obviously trustees will need to make sure that they always have sufficient cash to make the income payments. Cash flow management becomes more important once a pension commences.
This email is general in nature only and does not constitute or convey specific or professional advice. Legislation changes may occur quickly. Formal advice should be sought before acting in any of the areas discussed. Be aware that the information in these articles may become innaccurate with time. Responsibility is disclaimed for any inaccuracies, errors or omissions. Particular investments are neither invited nor recommended and hence this publication is not "financial product advice" as defined in Section 766B of the above legislation. All expressions of opinion by contributors are published on the basis that they are not to be regarded as expressing the official opinion of any other person or entity unless expressly stated. No responsibility for the accuracy of the opinions or information contained in the contributor's articles is accepted by any other person or entity. Copyright: This publication is copyright. If you wish to reproduce this article you require a license, which can be purchased here, to do so.