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Overview

The Pension Tab in Cashflow 2.0 is designed to display pension information associated with superannuation funds. This tab allows for comprehensive management of pension payments, withdrawals, and expenses, providing a clear view of both client and partner pension details.

Access

To access the Cashflow 2.0 Pension tab, open a client record, hover over the Cashflow tab, and select Cashflow 2.0 from the drop-down menu.

Open an existing Scenario or create a new one by selecting the blue Plus+ button, entering a Scenario Name, and ticking the available setup options.

The Cashflow 2.0 landing page will open the Cash Accounts tab in the Overall Position view if the client is partnered, or on the Client if they are unpartnered..

The Overall Position provides a unified system for managing cash flow for both the Client and Partner.

By consolidating income, expenses, and transactions into a single sheet, it simplifies tracking for multiple income streams and superannuation. This approach allows for efficient management of surpluses and deficits while supporting shared financial goals.

The centralised system enhances financial planning by making monitoring, analysing, and optimising cash management easier.

You can view individual values for the Client, Partner, SMSF, or any Business or Trust entities, and their Superannuation Accounts by selecting options from the drop-down menu.

📌Note

If the client is unpartnered all the options will be available from the main sheet, and additional entities such as Trusts or Businesses will be found within the dropdown

This allows you to isolate and analyse specific financial data for each entity, ensuring a clear and detailed understanding of their contributions and cashflow dynamics.

The Pension Tab sits within the Individual Client Tabs. To access these select the Client or Partner from the drop-down then navigate to the Pension tab if the client is partnered, otherwise, they will show in the main sheet.

📌Note

In Scenarios where SMSF has been applied at the creation stage, The Client and Partner super will be found within the SMSF dropdown option and not within the client record.

Pension Tab Structure

Individual Pension Sheets exist for the client and partner, listed under their respective entities.

When the SMSF Applicable option is checked while creating a scenario, the Pension Sheets will be displayed under the SMSF entity instead of separate sheets for the client and partner.

Data Source

Pension data in this tab is derived from Fact-Find > Superannuation Section - For super funds with pension enabled and information entered.

📌Note

If you are unable to see your client's pension within the Pension Tab:

Verify Pension Data in Fact Find:

Navigate to Fact Find > Financial > Superannuation.
Open the relevant superannuation record and ensure that the Pension Section is enabled.

Synchronise Data in Cashflow:

Return to your Cashflow scenario.
Select the Edit Scenario option from the menu in the top-right corner of the window.
Tick the Include Fact Find Data box.
Click Save to update and pull the pension data into your Cashflow scenario.

This process ensures that any pension information entered in Fact Find flows through correctly to the Pension Tab in Cashflow 2.0.

Additionally, Pension and Rollovers can be added directly within the Cashflow pension tab for Modelling.

Adding Pension to the Cashflow Scenario for Modelling

To Add a pension for Modelling within your scenario select the blue Plus+ button from the bottom right of the Pension tab.

Pension can also be added from the Add button on the top right corner of the window, regardless of the tab you happen to be working in.

👉These options are not available when in SMSF mode

Adding Pension Payments

To manage the Pension payments within your Cashflow Scenario right-click the pension and select edit.

Adjust the Pension Payment, and Save.

Pension Payment Types in Cashflow

Minimum	Calculates pension payments based on ATO-approved slab rates, depending on the individual’s age.
Custom	Allows manual entry of pension payment amounts. Includes an option to apply indexing to the payment.
10%	Sets the payment amount as 10% of the pension opening balance.
Optimum	Specific to Cashflow, this option withdraws the minimum pension amount required. In cases of a cash deficit, additional funds are withdrawn to cover the shortfall. *This option needs to be assigned at the Scenario creation stage and cannot be applied to pensions sourced from Fact-Find.

👉Single Payment Type

Each pension can only have one payment type.
End dates for pensions or multiple payment types for the same pension are not currently supported.

Extra/Adhoc Pension Payments

Additional withdrawals can be made using the Extra Payments and AdHoc rows that function like an Excel sheet.

Double-click to enter the desired amount for withdrawal.

These withdrawals appear as Income in the Cash Account sheet in the Overall Position.

📌Note

Extra Pension - Included in Age Pension calculations.
Adhoc Pension - Excluded from Age Pension calculations.

*These options are available for all payment types except Optimum Pension.

Additional Pension Features

Pension Fees	Fees can be entered at the time of creating a Pension Rollover or by right-clicking on an added pension. Fees can be set as a percentage or a fixed amount.
Pension Expenses	Add specific expenses related to pensions by right-clicking on the pension and selecting Pension Expense.
TTR Pension	A TTR (Transition to Retirement) Pension can be set up during a pension rollover. Includes a toggle for TTR Pension and an option to specify the TTR Duration. Post-TTR Duration, the pension operates as a regular pension.
Deemed Toggle	Found in the Pension Rollover form, this toggle determines whether the pension is considered for Age Pension calculations.

Rollover

You can perform a rollover by selecting the blue Plus+ button from the bottom right of the screen whilst in the Pension tab.

You can also add the rollover from the Add button in the top right of the screen, regardless of the tab you are working on.

Add the rollover specifics in the Rollover window

Balance	Displays the balance amount of the account to be rolled out of, this is editable.
Rollover Amount	Partial Rollover - Enter the rollover amount for a Partial Rollover Full Rollover - Tick the Full Rollover box to roll out all the funds
Owner	Choose the owner of the account
Start From	Set the Starting date
Pension Payment	Choose from: Minimum 10% Custom - activates the Indexation and Pension Amount fields Optimum
TTR	Toggle this option to establish a TTR Pension - Activates the TTR Duration Field
Risk Profile	If you want a different risk profile attached to the pension, choose one from the drop-down
Deemed	Toggle this option to enable the deeming feature for the pension
Fee Type	Choose from: Percentage Fixed Amount
Description	Enter a descriptive title for the rollover - this will show in the Pension Sheet