DBP Actuarial Certificates Actuarial certificates for SMSFs with defined benefit pensions

We provide actuarial certificates for SMSFs with defined benefit pensions (including complying lifetime, complying term and flexi-pensions).

If you need an actuarial certificate for a SMSF with a defined benefit pension, download the DBP Request Form by clicking the button below. After completing the form, email it to us at enquiries@verusactuaries.com.au.

For preparing an actuarial certificate for a SMSF with defined benefit pensions we charge $300 plus GST. Payment for DBP certificates is available via EFT, cheque or direct debit.

Verus Defined Benefit Pension Certificates

Superannuation law requires SMSFs with defined pensions to obtain an actuarial certificate every year.

Our actuarial certificates for Funds with defined benefit pensions include:

Actuary's Adequacy Opinion An adequacy opinion in relation to the sufficiency of the Fund’s assets. This is the actuary’s opinion on whether or not there is a high probability that the SMSF’s assets will be sufficient to meet the future pension payments required. The adequacy opinion is also referred to as the high probability test.

Tax Exempt Percentage The tax exempt percentage in accordance with Section 295-390 of the Income Tax Assessment Act (1997). This is the percentage of the Fund’s investment income that is exempt from tax and is required before you complete the Fund’s tax return.

If your Fund is Assets Test Exempt for Centrelink purposes, you will need to provide a copy of the actuarial certificate to Centrelink before 31 December each year. If the actuarial certificate is not provided to Centrelink on time, it could impact on your entitlements.

About Defined Benefit Pensions

Defined benefit pensions are an old form of pension that pay a specified amount every year. These types of pensions are known by several different names including:

complying lifetime pensions (established under Section 1.06(2) of the SIS regulations);

complying term pensions (established under Section 1.06(7) of the SIS regulations); or

flexi-pensions (established under Section 1.06(6) of the SIS regulations).

Since 31 December 2005, no new defined benefit pensions have been permitted to start in SMSFs.

How to use the DBP Request Form

The DBP Request Form sets out the data items we need to prepare an actuarial certificate for your Fund.

After you have downloaded it and saved a copy to your computer, complete the details in the cells highlighted in green on each of the 5 main tabs (Contact Details, Fund Data, Financial Data, Defined Benefit Pensions and Comments). The completed DBP Request Form should be emailed to enquiries@verusactuaries.com.au

When we receive the form, we will review the data in detail. We may contact you for further information if we have any questions about the data you have provided.

Questions and Help

If you have any questions whilst completing this form, please don’t hesitate to contact us via email at enquiries@verusactuaries.com.au or by phone on 1800 978 328. We are always pleased to assist with any questions you may have.

Free Updates to Certificates

If the information you previously provided to us requires updating, we will provide an updated certificate free of charge.