SMSF Checklist: More Than Just Minimum Pension Drawdowns
As 30 June approaches, many SMSF trustees focus on one key task: ensuring minimum pension payments have been made before year-end.
While meeting minimum drawdown requirements is critical, a recent article by SMSF Adviser highlights that EOFY pension planning involves much more than simply ticking a compliance box. Trustees should also review how benefits are being withdrawn, whether current pension strategies remain appropriate and whether opportunities exist to improve the fund’s tax position before 30 June.
Don’t Overlook Minimum Pension Requirements
For members receiving an account-based pension, failing to meet the minimum annual pension payment requirements can have significant consequences.
Trustees should confirm that pension calculations have been completed correctly and that any required payments are made before 30 June. This is particularly important where a pension commenced during the financial year, as pro-rata minimum payment rules may apply.
Review How Benefits Are Being Taken
EOFY is also a good time to review how retirement benefits are being withdrawn from the fund.
Where members have multiple pension interests or both pension and accumulation accounts, the source of withdrawals can influence transfer balance cap outcomes, future tax planning opportunities and estate planning considerations.
What worked last year may not be the most effective approach this year.
Consider Tax Planning Opportunities
The timing of pension commencements can also create planning opportunities.
In some circumstances, commencing an account-based pension during June may provide tax advantages by allowing earnings generated within the pension account to receive concessional tax treatment before year-end.
However, these strategies can be complex and depend on factors such as member balances, transfer balance cap positions, investment holdings and the fund’s overall circumstances.
Review Transition to Retirement Strategies
For members who have reached preservation age but are still working, a Transition to Retirement Income Stream (TRIS) may also be worth reviewing.
Depending on income needs and retirement objectives, a TRIS can provide additional flexibility and access to retirement savings while continuing employment.
EOFY Is the Ideal Time for an SMSF Health Check
The key takeaway is that pension planning should not be treated as a set-and-forget exercise.
Each year presents new compliance obligations, tax planning opportunities and strategic considerations. With 30 June fast approaching, now is the time to review your SMSF pension arrangements, confirm minimum pension requirements have been met and ensure your retirement strategy remains aligned with your goals.
For assistance reviewing your SMSF before year-end, contact our Intuitive Super team on 1300 856 064. We can help ensure your pension strategy, compliance obligations and tax planning opportunities are fully considered before 30 June.
Source: Dunn, A & Miller, T 2026, ‘Minimum pension drawdown not the only thing to consider as 30 June approaches’, SMSF Adviser, 28 May 2026
