Can I add to my account based pension in a Self Managed Superannuation Fund (SMSF) once it has commenced?

4 February 2013

Admin User

No. As this would be a violation of Regulation 1.06 (1) (a) (ii) and Regulation 1.05 (1) (a) (ii) of Superannuation Industry (Supervision) Regulations 1994 (SISR).  This is further confirmed by the following article from the Australia Taxation Office (ATO).

http://www.ato.gov.au/superfunds/PrintFriendly.aspx?ms=superfunds&doc=/content/00120916.htm

Therefore, contributions and rollovers from other Superannuation Funds are not permitted to be added.  Neither are rollovers from accumulation balances.

However, the pension balance my increase in the following situations:

1.    Capital Gains from the assets within the pension fund;

2.    Franking credits from shares used to support the pension;

3.    Income such as dividends; trust distributions and interest;

4.    Insurance proceeds; and

5.    Transfers from reserves.

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