I have about 2/3 of my super in a SMSF and about 1/3 in an industry fund. My wife and are are drawing pensions from both funds. We have a reversionary nomination for the industry pensions and a death benefit nomination for the SMSF. In both cases the surviving spouse is the sole beneficiary. In looking at the ato guidelines, they seem to be quite similar. However, the advisor with the industry fund says that for the reversionary nomination there is a 12 month period to sort out the best path regarding caps etc. and that this does not apply with a death benefit nomination and that actions must be immediate. However I can find no ato document that gives a timeline. The only timing information that I can find is that all the requirements have to be in place before the pension is drawn eg funds may have to be taken out of super, rollbacks may be needed to avoid breaching caps. Can anyone help?
