I will be retiring within 2 years and I have a transition to retirement pension that is reinvested each year in our SMSF. Once I stop work (my wife has already stopped) how do we start drawing down on our super?
I assume we can do so within our SMSF by drawing down on investments but uncertain on what rules and monetary restrictions would apply.
A: This will come down to your age and how the super laws and your fund’s trust deed works.
But in any case I have a question: by “drawing down” do you mean taking the money as a pension or lump sum?
I also need to know your ages to describe how the super laws work.
Once you know those rules you will need to check your fund’s trust deed to see what it allows.
Cheers,
Tony Negline.
