--- title: SMSF Retirement of Member description: When a Member of a SMSF voluntarily retires from the Fund, they need to provide a notice to the Trustee of their intention to retire and the reason due to which they are retiring. The LYD Retirement o --- [Skip to content](https://info.lightyeardocs.com.au/supportcentre/smsf-retirement-of-member-1#main-content) English Show submenu for translations [![Asset 46@4x](https://info.lightyeardocs.com.au/hs-fs/hubfs/Asset%2046@4x.png?width=273&height=50&name=Asset%2046@4x.png)](https://www.lightyeardocs.com.au/) Open main navigation Close main navigation - English Show submenu for translations Your Gateway to Growth and Achievement! - There are no suggestions because the search field is empty. 1. [Success Hub](https://info.lightyeardocs.com.au/supportcentre?hsLang=en) 2. [How to Videos](https://info.lightyeardocs.com.au/supportcentre/how-to-videos?hsLang=en) 3. [Current SMSF Establish, Maintain and Upgrade](https://info.lightyeardocs.com.au/supportcentre/how-to-videos?hsLang=en#current-smsf-establish-maintain-and-upgrade) # SMSF Retirement of Member ### **About Product** When a Member of a SMSF voluntarily retires from the Fund, they need to provide a notice to the Trustee of their intention to retire and the reason due to which they are retiring. The LYD Retirement of a Member from SMSF is a notice to the Trustee of the Member’s voluntary retirement from the Fund due to either reaching the superannuation age of 65 or retiring at 60 having no other gainful employment. It also includes the Trustee resolution acknowledging the retirement of the Member and converts all of the Member superannuation benefits to unrestricted non-preserved benefits. ► **$49.00 (inc GST)** - OR provided under your unlimited membership ► The master document has been signed off by LY Legal and is congruent with Australian law. ### **General Information** When a Member of a self-managed superannuation fund (SMSF) wishes to retire voluntarily, they must notify the trustee of the SMSF in writing and the Trustee acknowledges the retirement byway of a Resolution. Additionally, it is important to note that the SMSF trustee must ensure that the payment of the retirement benefit is in compliance with the SMSF's trust deed and the Superannuation Industry (Supervision) Act 1993. ### **Benefits** - Simple and easy to use. - Compliant with all the superannuation laws. - allows the Trustee to arrange for the payment upon receiving notice. **Frequently Asked Legal Questions** **What is the process for a member to notify the trustee of their voluntary retirement?** A member must notify the trustee in writing, including the date of retirement and the amount of their retirement benefit. **What are unrestricted non-preserved benefits?** Unrestricted non-preserved benefits are a type of superannuation benefit that a member is able to access at any time, regardless of their age or employment status. These benefits are not subject to the preservation rules that apply to other types of superannuation benefits, such as preserved benefits and restricted non-preserved benefits. These benefits can be accessed by a member as a lump sum, or used to commence a pension. **Can I get a sample of this document?** Yes, please email [support@lyd.com.au](mailto:support@lyd.com.au) to request a sample document for you to review. **How long does this document take to assemble?** Depending on the complexity of the data, this document should take approximately 30-50 secs to assemble. If you experience timing outside of this please contact Support via the Surge app, alternatively please read this article for troubleshooting tips [https://info.lightyeardocs.com.au/supportcentre/troubleshooting-longer-assembly-times-timeouts](https://info.lightyeardocs.com.au/supportcentre/troubleshooting-longer-assembly-times-timeouts?hsLang=en) **Is this document a legal document?** All master documents have been signed off by LY Legal lawyers. LY Legal advises that “at no time, due to inbuilt legal protection and security measures can a user change or amend a document on the LYD platform that has been signed off by a practicing solicitor. To do so would result in the user drafting a document of a legal nature and engaging in the provision of legal services. In addition, it would be a breach of copyright. In our opinion when completing the form fields through the LYD platform, users and their employees are merely carrying out an administrative task which is not the provision of legal advice.” However in some complex areas such as the insertion of a varied range of client instructions into a Will or other such documents the user must be mindful of the extent to which a document is being drafted by the user rather than merely the administrative task of completing a form where the relevant fields are inserted into the reviewed and signed  legal document provided by LY Legal. The above advice is born out of numerous cases dating back to Re Sanderson, Ex parte Law Institute of Victoria \[1927\] VLR 394, 397 where the Court held: “if a person does a thing usually done by a solicitor, and does it in such a way as to lead to the reasonable inference that he is a solicitor – if he combines professing to be a solicitor with action usually taken by a solicitor – I think he then does act as a solicitor.” Likewise in ACCC v Murray (2002) 121 FCR 428, 448 where Murray was building a franchise business that involved the legal writing and drafting of Wills from scratch based on the client’s personal circumstances.  The Court held that this process was legal work. **Is the document easy to read?** All LYD products are written in plain English and assessed for readability. If at any time you come across any errors, please contact [support@lyd.com.au](mailto:support@lyd.com.au). **What lawyers sign off on the LYD documents?** All LYD documents are prepared and signed off by LY Legal. **Are the LYD documents reviewed regularly?** All LYD documents form part of the LYD internal review process. We review all documents at least annually or when required to do so due to changes in legislation. Further details of this process and a review schedule is include on this website. 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