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Commutation of existing and commencement of new market linked pension Complete this form and return to technical@heffron.com.au or mail to PO Box 200 Maitland NSW 2320. Our documentation service includes:
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Commutation of existing refers to the process that allows for the conversion of existing benefits or obligations into a lump sum payment.
Typically, individuals or entities receiving benefits that are eligible for conversion to a lump sum must file for commutation.
To fill out the commutation form, one must provide personal identification, details of the existing benefits, and the desired lump sum amount.
The purpose of commutation is to provide beneficiaries with immediate access to funds instead of waiting for periodic payments.
Information required includes the beneficiary's details, type of existing benefits, amount being commuted, and any applicable terms and conditions.
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