Under 60, the tax is different for income stream v lump sum over 60 there doesnt seem to be any benefit.??
NB id still consider a pension under 60 - all the earnings are tax free. If you dont need the income for the pension just recontribute it back into the accumulation a/c.
The ATO said you can't take a lump sum directly from the pension. You must roll it back into the accumulation account then take a lump sum.
The 2nd ATO person said you could take the lump sum either directly from the pension or accumulation a/c - whichever you prefered.ie you had two choices.??
So which one is true?
Its a real worry when I get different answers to questions from different ATO people!!! -and no documentation about it.
