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You can set up a pension for your, or your clients, Self-Managed Superannuation Fund. Pensions available are:

• simple pension
• transition to retirement simple pension

You need to get legal, accounting and financial advice about which type of pension to choose. We cannot give you that advice.

What does the SMSF Pension document package include?

The document package for the SMSF Pension set up includes:

• Application form - from fund member to fund trustee(s)
• Minutes of the fund trustee(s) agreeing to pay the pension
• Product disclosure statement - a statutory requirement
• Pension payment agreement - which contains the rules under which the pension will be paid, and
• Establishment Kit, prepared by our lawyers at Maddocks, with full instructions as to how to complete everything.

All documents for the pension set up are signed-off by our lawyers Maddocks.

Suitable for your SMSF's deed?

The Cleardocs pension pack has been designed to suit the Cleardocs SMSF deed. However, if your SMSF is a non-Cleardocs deed, then you can update the SMSF's deed to a Cleardocs deed here for $99.

How long does it take?

The process takes about 5-10 minutes. Then once you've answered the questions on the Cleardocs system and paid you can download the pension documents.

Background to the Cleardocs Pension SMSF Pack

When you become entitled to be paid a lump sum benefit, the SMSF trustee(s) may allow you to choose to receive that lump sum in the form of regularly paid income — this is called a pension.

Different types of pensions operate differently and will impact on you differently. You should discuss the right type of pension for you in detail with your adviser before you select the pension you would like to receive.

Features of the Cleardocs SMSF Pension Pack

Once you become entitled to be paid a lump sum benefit, the Cleardocs SMSF Pension Pack provides a set of documents that give you all you need to turn your SMSF into an income stream. The Pension Payment Agreement allows you to:

• choose what type of pension you receive
• choose when and how you receive the pension and change that at a later date
• choose when you receive pension information from the trustee
• "commute" the pension in certain circumstances - that is, change it so that you receive a lump sum, and
• nominate a reversionary beneficiary to receive the pension after you die.

The documents are written in easy-to-understand Plain English and signed-off by our lawyers Maddocks.

Need other sorts of pension documents?

If you would like to change any of the documents or to arrange a different type of pension, then you can order a Cleardocs Pension Pack and then arrange for Maddocks to amend it to meet your needs. This is cheaper than asking Maddocks to create your version from scratch.

Start by calling Cleardocs on 1300 307 343 and we will direct you to the relevant lawyer at Maddocks to begin the process.

Frequently Asked Legal Questions for Pension Pack

• What types of pensions does the Pension Pack cater for?
• How does the pension commence?
• Does the Pension Pack cater for segregating assets used to fund the pension?
• Do I need an actuarial certificate?
• Can I add assets to the assets which are funding my pension?
• What happens to my transition to retirement pension when I retire?
• If a self managed superannuation fund (SMSF) member dies and they have a reversionary pension and a death benefit agreement or nomination, which takes priority?