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SMSFs have been warned against rushed decisions to withdraw super where a reversionary pension pushes them above the $1.6 million cap, as there will be strategies for retaining this money in the system, according to Perpetual.
Speaking to SMSF Adviser, Perpetual senior manager of strategic advice Colin Lewis said from July next year when the $1.6 million transfer cap comes into play, reversionary pensions will automatically be added to a member’s account and counted towards the transfer balance cap.
Read the full story at SMSF Adviser.