From 1 July 2017, a limit will apply to superannuation income streams (i.e. pensions) that receive concessional tax treatment. This limit is called the Transfer Balance Cap (TBC) and will be set at $1.6 million for the 2017–18 financial year. All pension products received by a member will be valued and recorded against the cap.
To estimate the transfer balance cap amount reportable by CSC to the ATO for your defined benefit pension on 1 July 2017 we have provided the below estimator. As well as providing this estimator your Transfer Balance Cap amount will be reported on your July CPI letter.
for CSS members:
for 1922 Scheme members:
For more information about the Transfer Balance Cap, see our The Transfer Balance Cap [PDF 414 KB].
For information about other measures in the Government’s Superannuation Reform Package, see our Super Changes page.
Note: The transfer balance cap estimator may not display correctly on older versions of Internet Explorer (such as IE6 or IE7). We recommend using Chrome.