As a general rule, a benefit is paid when the member receives and amount and the member’s benefits in the SMSF are reduced.
| Way funds are transferred to member | When pension payment is considered made |
| Cash payment (either in Australian or Foreign currency) to the member | When the member receives the cash |
| Electronic transfer of funds to the member | When the funds are credited to the member's account |
| By money order or bank cheque | When the member receives the money order or bank cheque (unless the order or cheque is dishonoured) |
| By cheque (other than one that is post-dated) that is presented and honoured with cash or its electronic equivalent | When the member receives the cheque (as long as it is presented promptly and is honoured) |
| By post-dated cheque that is presented and honoured with cash or its electronic equivalent | When the cheque and be presented for payment (that is, the date on the cheque), as long as it is presented promptly and is honoured. |
| By transfer of an asset to the member under a partial commutation | When the member obtains beneficial ownership of the asset from the SMSF trustee |