Commutation death benefit

Rollover or contribution?

Section 307.5(3) ITAA 1997 requires certain criteria must be satisfied when dealing with commutation of a pension which is payable because of the death of a member. The flowchart below explains the intricate workings of section 307.5(3) in a simple format.

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Death of pension member

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DISCLAIMER: This information is an interpretation of rules, regulations and standards. It should not be considered as general or specific advice and neither purports, nor is intended to be advice on any particular matter. No responsibility can be accepted for those who act on the contents of this publication without first obtaining specific advice. Liability limited by a scheme approved under Professional Standards Legislation.