Pension - partial rollback

For an account based pension or a transition to retirement pension (which has transferred to retirement phase) to be partially rolled back to accumulation phase.

$88.00 - single use | no legal review

This document set can be used whether or not the member has an existing accumulation account in the fund.

A partial roll back of the pension will result in a portion of the superannuation interest underlying the pension to be returned to accumulation phase. A partial (ie less than 100%) roll back of the pension does not terminate the pension.  The balance of the superannuation interest will continue to support the pension and the pension will continue with a reduced pension balance.

This template is not suitable if the roll back is to be a full (ie 100%) roll back.  As a 100% roll back of the pension will terminate the pension and return the entire superannuation interest underlying the pension to accumulation phase.   In this case use the “Pension - Full Roll Back” document set.    

Please confirm that the pension is able to be partially rolled back. 

Partial roll back means that the pension is partially commuted and the commutation amount is credited to an accumulation account of the member.

Note: Beneficiary pensions (ie pensions arising from a death benefit – such as pensions payable to the spouse or child of the deceased member and also reversionary pensions when they transfer to a spouse or child of the deceased member) cannot be rolled back to accumulation phase.  However, they can be rolled back for the purpose of transferring the pension balance to another fund to immediately commence a  new beneficiary pension.

This document set provides all of the information and the documents required to partially rolledback to accumulation phase within the same fund and includes:

• Rollback checklist and instructions
• Application for pension rollback
• Written resolutions

Please note:  the online order form provides a completed set of populated and amending documents for one partial rollback of a single pension.   If you would like to make an order for a another rollback  please submit another set of instructions.

For assistance please call the SUPERCentral Help Desk on 02 8296 6266 or make an enquiry.