Unit 5: Money Out: Accessing Superannuation - 2024

How do you cash out the nest egg? Learn about retirement income streams, lump sum withdrawals, paying out death benefits and more.

In this unit, we cover:

• Preservation rules

• Points of access

• Conditions of release

• How can benefits be paid?

  • Kinds of transactions paid in cash vs journals

  • Lump sums

  • Super income streams - types & conditions

  • What is taxable to the individual & why?

  • Interaction with Centrelink

• Early access of super

• Death of a member

  • Death Benefit Nominations - binding or non-binding

  • Payment or pension?

  • SMSF Wills

  • Contesting of super death benefit payments - what happens?

  • Testamentary trusts (overview)

  • Superannuation proceeds trust (overview)

Date recorded: 17 October 2024