Perhaps I wasn't clear - I didn't say consolidate (quite the opposite) - the example I gave suggested NOT to consolidate (maybe I should have used the word 'mixing' instead of 'diluting') - ie:
- leave the existing pension of 500k with taxable components in tact
- the new accumulation entitlement comprising 450k non-concessional contributions is simply established as a second pension
In this case, the two pensions are completely separate (we haven't 'mixed' the different components from the outset) and if drawings in excess of the minimum are paid, you draw harder against the original pension and can potentially end up with all tax free entitlements
