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Pension Fees


 
 
Pension Commencement Fee: No Additional Cost

There is no additional cost to setup a Pension (SABP or TRIS) with ESUPERFUND.

 
 
Commencing Multiple Pensions Fee: No Additional Cost

If you make rollovers or contributions to your SMSF after commencing a Pension these amounts will sit outside the Pension in the "Accumulation Account". This will mean that earnings on this part of your Super Benefit will continue to be subject to tax. If you are eligible for an SABP, it may be appropriate to commence a second SABP with your "Accumulation Account" balance to ensure your entire Super Benefit continues to be completely tax free (subject to the Transfer Balance Cap).

ESUPERFUND does not charge even if your wish is to commence another pension. You should obtain your own independent financial and taxation advice about which course of action is appropriate to your circumstances.

 
 
Recalculation of Minimum and Maximum Annual Pension Payment Fee: No Additional Cost

It is important to understand that the Minimum and Maximum Pension is recalculated annually on 1 July each year based on each Members balance at that date.  Importantly at the end of each Financial Year, once the year end Financial Statements have been prepared for your SMSF, ESUPERFUND will automatically recalculate the Minimum and Maximum Pension for you and notify you of the amounts.  In addition ESUPERFUND will send you a reminder the following May (one month before the end of the Financial Year) reminding you of the Minimum and Maximum Pension to be taken to ensure you access the correct amount. This service is at no additional cost.

 
 
Annual Payment Summary Fee: No Additional Cost

Pension Income accessed by a Member after age 60 is tax free to the Member.  This is one of the main attractions of commencing a pension after age 60.  Given that the Pension Income is tax free, the income accessed by the member does not need to be declared in that Members annual tax return.  Some taxation benefits can apply if a Member commences a pension between Preservation Age and 59.  However in this case the Pension accessed must be declared in that Members annual tax return.  Importantly ESUPERFUND prepares an "Annual Payment Summary" for each Member who has received a Pension between Preservation Age and 59.  The "Annual Payment Summary" details all the information required to include in the Member's annual tax return including the "taxable" part of the Pension and any associated Pension Rebate. This service is at no additional cost.  

 
 
Annual Pension Compliance Fee: No Additional Cost

When you commence a Pension (SABP or TRIS) there are additional compliance requirements for your SMSF. These include converting the Member's "Accumulation Account" to an "SABP Account" or a "TRIS Account" and tracking the movement in each of these "Accounting Accounts". In addition the earnings of the SMSF must also be prorated between each Member and in turn each Member’s "SABP"/"TRIS" and "Accumulation" Account to determine what portion of the SMSF earnings are taxable and what portion are tax free. Importantly ESUPERFUND attends to these compliance requirements for you at no additional cost. That is, our annual fee does not change even if you commence a Pension. Please note that in some cases, an Actuary Certificate is required and the cost of an Actuary's Certificate is not included in our annual fee. For more information on Actuary Certificate, please click here


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