On 7 December 2024, changes were made to the law to allow people to exit certain legacy retirement products. If you want to act on the changes, keep in mind they end on 6 December 2029.
Guidance is available on our website for people considering commuting a legacy retirement product and for superannuation providers when applying the laws.
Relaxed commutation rules for legacy retirement products provides guidance on:
- which legacy retirement products can be commuted
- what happens when a legacy retirement product is commuted
- possible tax consequences.
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