Treasury Laws Amendment (Legacy Retirement Product Commutations and Reserves) Regulations 2024 (F2024L01596)

Schedule 1   Amendments

Part 1   Commutation of certain pensions and annuities

Retirement Savings Accounts Regulations 1997

2   After regulation 1.08

Insert:

1.08AA Commutation of market linked pension - limited period for full commutation

For the purposes of subparagraph 1.07A(3A)(e)(iva), this regulation applies to a commutation of a benefit if:

(a) the commutation occurs during the 5 years beginning on the day this regulation commences; and

(b) the whole of the benefit is commuted.