Legacy Pension Reforms – Regulations Now in Force
The regulations implementing the Legacy Pension Reforms have now been registered and are effective on and from 7 December 2024. This means that the five year commutation window has now commenced and will cease on 6 December 2029.
The regulations are titled “Treasury Laws Amendment (Legacy Retirement Product Commutations and Reserves) Regulations 2024.”
Over the Christmas/New Year, SUPERCentral and its lawyers will be preparing information guides and FAQs on the reforms and also the necessary documents for trustees and members to take advantage of the reforms.
Any required changes to the SUPERCentral Governing Rules will be implemented in the first quarter of the new year.
To learn more about the recent Legacy Pension Reforms and how they may affect your retirement strategy, contact us for expert guidance. For any further information regarding this article, please call Humble Goode on (08) 7477 8252.
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