Sample Document - above temporary minimum pension election
The Government as part of its economic response to COVID-19 has provided a 50% temporary pension reduction for the 2019-20 and 2020-21 financial years. As a result of this change, a member may wish to consider how they intend on taking amounts that are greater than the reduced minimum pension, including taking amounts from any accumulation account or as a pension commutation.
In completing this order, the following documents are generated:
- Member request electing how to treat above reduced minimum pension amounts
- Trustee meeting accepting the decision on the treatment of above minimum pension benefits, including as lump sum and/or partial commutation.
- Trustee Notification of dealing with benefit payments
- Information table on approach of ATO's guidance