Sydney, 17th February 2025 – Leading cloud-based corporate compliance and legal document provider NowInfinity has introduced a Recognised Overseas Pension Scheme (ROPS) compliant SMSF Deed, expanding its comprehensive legal document suite for financial professionals.
ROPS are a type of overseas pension plan recognised by Her Majesty’s Revenue and Customs (HMRC) in the UK. The new SMSF Deed assists financial professionals with clients who are Australian residents and aged 55 years or older, to transfer their UK pension into an Australian SMSF.
Previously, obtaining a ROPS-specific deed required legal review so the trust deed could be tailored for this purpose, adding time and cost. Now, financial professionals can access the compliant SMSF Deed directly via NowInfinity, simplifying the process.
NowInfinity’s General Manager Kate Anderson commented: “Many Australians have lived and worked in the UK, and it can be complicated to transfer UK pensions to Australia, NowInfinity is helping to simplify this process for customers.”
This release is complimented by significant enhancements to NowInfinity’s SMSF pension documentation, offering:
- A more flexible pension commencement document package (which includes a pension agreement and product disclosure statement) for both Account-Based Pensions (ABP) and Transition to Retirement Income Streams (TRIS)
- A new annual pension payment document package (which includes documents such as the member request letter, letter from the fund acknowledging the request, minutes etc) to streamline the management of annual pension payments.
“These enhancements address the need for accessible and compliant documentation enabling NowInfinity customers to efficiently service and deliver more value to their clients,” said Anderson.
With one in four new SMSFs in Australia established using NowInfinity’s SMSF deed, these updates reinforce its position as a leading provider of SMSF documentation – ensuring compliance, flexibility and ease of use for professionals managing SMSFs.1
“The addition of the ROPS-specific SMSF Deed demonstrates NowInfinity’s ongoing commitment to legal documents and compliance solutions that drive productivity and empower financial professionals to better serve their clients,” said Anderson.
For more information about NowInfinity please visit here.
About Class
Class is a pioneer in cloud-based wealth accounting and is recognised as one of Australia’s most innovative technology companies, delivering trust accounting, portfolio management, legal documentation and corporate compliance solutions to financial professionals across Australia.
For further information, please visit https://www.class.com.au
For media enquiries contact:
Natalie Pennisi
npennisi@hub24.com.au
P: 03 9275 7835
Disclaimer
The information contained in this document is provided by NowInfinity Pty Ltd ACN 154 927 376 (NowInfinity) and is current as at13 February 2025. It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. This information is general in nature and may omit detail that could be significant to your particular circumstances. This information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. The information given in this document is in summary form and does not purport to be complete. While reasonable care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation and circumstances can change from time to time. Accordingly, neither NowInfinity nor any of its related bodies corporate make any representations or warranties as to the completeness or accuracy of the information in this document and none of these entities is liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.
