Pension payments are transferred to your client’s nominated account on or around the 15th day of the month (not including fortnightly payments).
You and your client can pick a timeframe that best suits their needs. Pensions can be paid:
Please note clients must take at least one payment per financial year in line with their minimum pension payment obligations.
You can change your client’s pension payment frequency online. Any changes to pension payments should be made before the start of the month for it to be effective for that month.
If you miss a payment because of insufficient cash, you don’t need to wait until the next period. You won’t need to request a payment either.
You just need to sell down assets until there is enough cash in the account to make the payment. We’ll automatically make the payment to your client’s chosen account once there is enough cash.
Note if the account doesn’t have enough cash to meet the annual minimum pension requirements, we may need to sell down the assets on your behalf to ensure the minimum is met. Please refer to the relevant PDS for more information.
If you are interested in arranging an ad hoc pension payment, see Adviser initiated pension payments.
Chat in real-time with an adviser consultant Monday to Friday, 8am to 7pm Sydney time (excluding public holidays).
Everyone at Macquarie is commited to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.
