Nov 18 - New Documents

New Documents

• Commutation of Market Linked Pension (as legacy template only)
• Commencement of Market Linked Pension (as legacy template only)
• Return of NCC amounts

• Reversionary options for pensions - we are making amendments to the reversionary options of a new and existing income stream to incorporate a level of reversion that provides for a percentage (i.e. 100%) or dollar amount ($), along with amounts up to a surviving members transfer balance cap.  The decisions around the level of reversion will be subject to the level of certainty of flexibility required by the member and beneficiary.  In addition to updating these changes in the pension commencement documents, we will also be incorporating these options into the add/remove reversionary beneficiary should you wish to make changes to an existing pension without commutation and repurchase being required.
• Unit Trust Deed - this will also include a 13.22C Deed (and constitution) that will deal with 50%/50% unit holdings that provide dispute resolution processes to ensure that no particular party would 'control' the arrangement for the purposes of Part 8 of the SISA.
• Pension Deed of Affirmation and Confirmation - insufficient or missing pension documentation appears as a common occurrence and the recent Qld case of Naurmon further highlights the importance of this documentation in the context of dealing with the member's death benefit.  We have now drafted this new Pension Deed and will look to add online for use in the coming weeks.  The purpose of this Deed is to formally state or restate the terms and conditions of the pension based upon the knowledge and understanding of trustee(s) and member. 
• Other documents - we have a range of additional templates looking to be added onto the platform over the coming months including Downsizer contributions, Agency Agreement (for related party builders), Deed of Debt Forgiveness, and more...