COMMENCING AN ACCOUNT BASED PENSION ON 1 JULY 2025 BUT I HAVE NOT COMPLETED THE 2025 FINANCIAL ACCOUNTS .WHAT DO I DO

peter stamos

• 23 October 2025 01:13

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• Official comment

  

  Andre Jones

  • 24 October 2025 00:04

  Hi Peter, 

  Thank you for reaching out and posting in the Community.

  To start an account-based pension on 1 July 2025, you’ll first need to finalise the current financial year. The steps can vary depending on your fund’s stage of processing:

  • If you’re processing the financial year:
    Enter all transactions for the 2025 financial year, then Create Entries to allow Simple Fund 360 to complete the year-end calculations. Once this is done, you can close the period.

  • If you’re entering opening balances:
    You’ll need to enter all opening balances to finalise the 2025 financial year. Once completed, close the period and you can then commence the account-based pension.

   Let me know how you go with this

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