Hling
'5 but I thought the word "retiree" means someone who is not working and doesn't want to work. '
You can retire once you leave your regular job, at any age after the preservation ages (currently 56/57), if your 'intention' is to not work again. After a few weeks of utter boredom you can go back to work, and yet your SMSF Pension remains in force.
So you could retire in mid to late 50s, start drawing your SMSF Pension AND work full time, if you so desire.
The 40h in 30d work test is a bone given to the lobbyists, and it is much better to have this than not. Most importantly with the new $1.6m cap, it allows up to $25k a year to be pushed into a SMSF, which to some folks can be a worthwhile part of tax planning. These $25k contributions would only. ever be taxed at 10 or 15% within Super but may be higher rates outside of super. And as the rest is so darned easy to fullfill then it is open to many folks.
