01 / Eligibility
Do I need a certificate?
Start with the fund’s pension types and the dates each was in retirement phase. The answer depends on the income year, the interests held during that year, and the method used to calculate exempt current pension income (ECPI).
Cases by pension type
No retirement-phase interests during the year: an ECPI proportion is not indicated. Check each pension’s retirement-phase status.
Entirely in retirement phase for the whole year: under current rules, the standard account-based case generally does not need a proportionate certificate. Confirm the pension types and that the status held all year.
Retirement-phase and accumulation interests at the same time: consider the proportionate method, which needs a certificate. Identify any separate segregated periods.
Defined-benefit pensions, unusual benefits or uncertain answers: get specialist advice before you choose a method. A simple account-balance percentage may not meet the fund’s obligations.
Record the decision
Record the financial year, pension types, relevant dates and trustee choices. Reassess if the final financial statements change these facts.
Checklist
- Identify every pension and its retirement status.
- Confirm commencement and commutation dates.
- Resolve unknown answers before you rely on a percentage.
Further reading: ATO · Running a self-managed super fund