Super & Retirement Question
Jeremy Gillman-Wells - Bentham Financial Group
24th March 2008.
Q: I have a SMSF and turn 65 shortly. At aged 65 can I live off saved income and let my super accumulate for another 12 months before converting it to an allocated pension. Thanks, Dave.
A: The rules applying to Self Managed Super Funds (SMSF) are no different to those affecting all superannuation when it comes to "conditions of release". Basically, a condition of release means you can access the money in your super to do something with it such as start an allocated pension income stream or withdraw a lump sum and buy a boat etc etc...
Disclaimer: This article is general in nature and is not intended as investment advice. Readers should always seek further advice before making any financial decisions.
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