Can a TRIS be stopped after it has commenced?
Yes, provided the trust deed for the SMSF so allows, a pensioner can roll their TRIS back into ‘accumulation’ phase at any age. However, once in the accumulation phase income will generally be taxed at 15% (note this will be the case for all TRISs after 1 July 2017, anyway).
A pensioner can also roll-over their pension account balance to another complying superannuation fund to commence a TRIS (though they must generally stop the TRIS first).
When a pension is commuted within a particular financial year, the minimum annual payment amount of the TRIS must be pro-rated and paid, having regard to the number of days the pension was payable in that financial year. For instance, if the TRIS was commuted exactly half way through the financial year, then the minimum annual payment amount for that year would be half the amount that would otherwise apply.