Joint SMSF when spouse dies

sally

New member
Glad I found this site. I have a question about our joint SMSF and I’m hoping someone can help.

My husband and I have a joint Self Managed Super Fund, with accumulation accounts. Currently we are both relatively healthy - but in our late 70’s. I was wondering what happens when one of us dies.

Can the funds from the deceased account be simply pooled with the funds from the remaining spouse?
 
Hi sally and welcome to the Australian Seniors Community!

I think I can help. :)

As I understand it, upon death the balance of a SMSF accumulation account must be either paid out in full or transferred to the pension account of the remaining spouse. So what you (assuming you outlive your husband) can do is keep your accumulation account active, and then simply draw a pension from your late husband’s pension account.

Hope this helps.
 
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