Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4.23

         (1)    The unrestricted non‑preserved benefits of an RSA holder may be cashed at any time.

         (2)   The amount of unrestricted non‑preserved benefits that may be cashed in accordance with subregulation (1) is the whole or part of the RSA holder's unrestricted non‑preserved benefits.

         (3)   Subject to subregulation (4), the form in which unrestricted non‑preserved benefits may be cashed under this regulation is, unless the cashing occurs in consequence of the death of the RSA holder, any 1 or more of the following forms:

                (a)    1 or more lump sums;

               (b)    1 or more pensions;

                (c)    the purchase of 1 or more annuities under the SIS Regulations.

Note    For the cashing requirement applying on the death of the RSA holder, see regulation 4.24.

         (4)    A lump sum mentioned in paragraph (3) (a) must be payable not later than the time for the payment of a lump sum mentioned in paragraph 4.24 (3) (a).