Lump Sum Payments and Superfunds
For a Fund to receive special tax treatments it must be regulated by the ATO and comply with the laws and rules as outlined in the SIS Act and Regs.
In order to pay lump Sum benefits a Fund must have a corporate Trustee. A corporate trustee also allows the fund to pay benefits in the form of a pensions.
In contrast, a Fund with individuals trustees can only pay benefits in the form of a pension, unless the member wishing to receive a benefit as a lump sum requests for it to be paid as a lump sum.