#9016
Awan Hammad
Participant

    Hi Ron

    Normally most “old” trust deeds do refer to “allocated pensions” rather than “account-based pensions”. Often the deeds are worded broadly and may say along the lines of that benefits can be paid “in anyway that the legislation allows”.

    I had a review of a Fund’s trust deed dated 1998 that was updated with a deed of variation this month and note the below paragraphs that arguably gives the Trustees the ability to pay an account-based pension.

    My approach would be to see if the deed in place dated 2005 allowed for the account-based pension to be paid starting 1 July 2021. It would be appropriate to get legal advice if it is not clear.

    If other forum members have a view on this query please let us know.

    Thanks

    SMSF AAA

    Trustees generally have the powers to include:

     

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