A technical defect in the operation of reversionary transition to retirement income streams (TRIS) has been fixed by the passing of the Treasury Laws Amendment (2018 Measures No. 4) Bill 2018.

Before this fix up measure, if a recipient of TRIS who was in pension phase died and the reversionary TRIS was paid to reversionary beneficiary who did not qualify for retirement phase, the reversionary TRIS would cease to be in retirement phase. Under the law change all reversionary TRIS’ will continue in or move into retirement phase upon the death of the original TRIS recipient.

Although the fixing of this technical defect is welcomed, it is hoped that a future rewrite of the super pension and retirement phase provisions will occur to simplify and streamline this ever increasingly complicated area.

To discuss this further or for more information please contact:

Phil Broderick
Principal
Sladen Legal
T +61 3 9611 0163 l M +61 419 512 801
Level 5, 707 Collins Street, Melbourne, 3008, Victoria, Australia
E: pbroderick@sladen.com.au

Ashleigh Eynaud
Associate
Sladen Legal
T +61 3 9611 0129
Level 5, 707 Collins Street, Melbourne, 3008, Victoria, Australia
E: aeynaud@sladen.com.au