How to treat a ump sum payments to wind up Pension fund

Sue Brierley

• 10 June 2026 06:25

I have a pension fund with one member, how do I record the lump sum payments to wind up the FUND

0

• Official comment

  

  Andre Jones

  • 16 June 2026 00:56
  • Edited

  Hi Sue,

  Thank you for reaching out in the Community.

  You can record lump sum payments directly in Simple Fund 360 by navigating to Accounting > Transaction List. Post a new Transaction, then locate the 46000 Member Benefit Payment transaction relating to the member's pension account and then select More Details.

  Select the arrow next to Save and choose Save and Prepare Documents. This will generate both the PAYG Payment Summary - Superannuation Lump Sum and the Lump Sum Pre-payment Form.
  
  For more details on this method, please look here - How to enter Rollover or Lump Sum Payments (excluding SuperStream)

  Alternatively, if the fund is being wound up, you may find it easier to use the Wind Up Wizard, which can assist with the wind-up process and automatically post the relevant lump sum benefit payments.

  For more details, please look here - Wind Up Wizard

  Please let us know how you go or if you have any further questions.

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