Previously, obtaining a ROPS-specific deed required legal review so the trust deed could be tailored for this purpose, adding time and cost, but NowInfinity’s compliant ROPS deed will simplify the process.

“Many Australians have lived and worked in the UK, and it can be complicated to transfer UK pensions to Australia, NowInfinity is helping to simplify this process for our clients and their customers,” Kate Anderson, general manager of NowInfinity, said.

The release of the ROPS deed is complemented by significant enhancements to NowInfinity’s SMSF pension documentation, which offers a more flexible pension commencement document package that includes a pension agreement and product disclosure statement for account-based pensions and transition to retirement income streams.

There is also a new annual pension payment document package that includes documents such as the member request letter, a letter from the fund acknowledging the request, and minutes to streamline the management of annual pension payments.

Anderson said with one in four new SMSFs in Australia established using NowInfinity’s SMSF deed, these updates reinforce its position as a leading provider of SMSF documentation ensuring compliance, flexibility and ease of use for professionals managing SMSFs.

“The addition of the ROPS-specific SMSF deed demonstrates NowInfinity’s ongoing commitment to provide legal documents and compliance solutions that drive productivity and empower financial professionals to better serve their clients.”