From 10 May 2006
The compulsory cashing rule was abolished with effect from 10 May 2006. This means that there will be no forced payment of benefits out of a superannuation fund after age 65.
People will be allowed to take their benefit as a regular income stream or keep their benefits in their superannuation fund indefinitely, taking out as little or as much of their benefits as they choose. This change does not alter the requirement to pay out a member’s benefits upon their death.