TRIS Noise

TRIS Noise

A number of articles have appeared in the financial press concerning the ATO’s view that a transition to retirement income stream does not convert to a standard pension once the necessary triggers of release have occurred. This is contrary to long standing practice. An obvious consequence is that all pensions that commenced as TRISs, but have now become standard pensions, will have to be recommenced. This is the essence of current articles. The ATO have acknowledged the problem and have confirmed that they are looking for a way to overcome it without this level of disruption. We are confident this will occur so are not recommending any action at this time.