Somebody else might like to comment on whether there is any practical difference between lump sum and income stream (for the 60 and overs - I won't be moving from accumulation phase until I reach 60, so my vision is rather narrow) given there is no maximum figure for the income stream which may be varied at any time.
for an ATO discussion on this issue. If you are 60 and over and don't have a taxable component (which is not likely) then it looks like you don't have to submit anything to the ATO.
