Re: Withdrawing Lump Sums From Super without Ca****ng Restrictions

mcginne1@[EMAIL PROTECTED]
 wrote in news:e7300e06-170f-433a-b984-
c234d64dc7de@[EMAIL PROTECTED]
> Pursuant to Item 101 of Schedule 1 to the Superannuation Industry
> (Supervision) Regulations 1994 a person aged  55 (if 55 is his
> preservation age)  can withdraw his  lump sum from his super fund
> without any ca****ng restrictions if he retires.
> Subregulation 6(7) defines retirement for this purpose the situation
> where the person intends never to again become gainfully employed,
> either on a full time or a part time basis.
> Part Time is defined by reg 6 to mean gainfully employed for at least
> 10 hours, and less than 30 hours, each week.
> So, if the persons only employment is less than 10 hours a week he is
> deemed to have retired he can withdraw his lump sum without any
> ca****ng restrictions.
> Comments please on this group.
> 

Thats correct by me. But what was your question?
Neil