“As 30 June this year is a Sunday, it is best to make sure the payment is made on 28 June,” Scott said.

“It’s even better to pay it before that week, so you know that it has been received.”

Scott said it is also important to remember that the 50 per cent reduction that was previously in force no longer applies.

“Make sure the client hasn't inadvertently continued to apply that 50 per cent reduction and if they have then make sure they take more money out,” she said.

Advisers should also check members who may have jumped up percentage brackets due to an increase in age to ensure they are aware of any implications this may have.

“It's always important to follow up with clients that haven't met their minimum to make sure that they're going to before 30 June,” Scott said.

“As an adviser is preparing most of the financials up to date, they should have a fairly good idea of what tax is payable, what members have met their payments and which ones have not.”

Scott added that with the TBAR reporting changes that have applied since 1 July 2023, if a member has a transfer event it needs to be reported within 28 days of the end of the quarter in which it occurred.

“An event would be commencing a retirement phase income stream, full/partial commutation, a reversionary death benefit and LRBAs commenced after 1 July 2017 that increase the value of retirement phase interest,” she said.

“This may also happen when doing a pension refresh. The member may still be contributing to super, stopping the pension and restarting with the contribution. You need to report the full commutation as well as the commencement of the new pension.”

Scott added if a member has died, and a reversionary benefit has started, it is important to note there is a 12-month period for that to count to the surviving spouse’s transfer balance account.

“However, it needs to be reported in the quarter in which the person passed away. If they passed away in May 2024, it needs to be reported by 28 July 2024 but won't count towards their cap until 2025,” she said.

Scott continued that regarding ensuring that all pension reporting has been completed by 28 June, a simple checklist is best.

“In terms of a checklist for pensions, obviously we need to look at how the member has met their pension requirements, but another one that often gets missed is the transition to retirement pensions,” she said.

“For this, the member also has to meet the condition of release, either retirement or attaining the age of 65, but if they have met the preservation age, they may be able to boost up their super by pulling money out and contributing more depending on their situation.”

If a member has met a condition of release it can be a good time to see if they want to commence a pension, or if a member is still contributing they may want to do a contribution refresh, taking into account the need to report it.

“If the client has requested that any amounts be paid out as lump sums, then you have a reporting requirement to obtain from the pension account,” Scott said.

“Also keep in mind those quarterly reporting requirements depending on when that lump sum is taken. And finally, find out if the fund needs an actuarial certificate.”