All pensions that satisfy the minimum standards will generally be treated as super income stream benefits for income tax purposes. This means the fund may be able to claim an exemption for the income earned on pension assets, called exempt current pension income (ECPI).

The minimum standards are:

• the pension must be account-based, except in limited circumstances
• you must pay a minimum amount at least once a year (partial commutation payments do not count towards minimum annual pension payments)
• once the pension has started, you can’t increase the capital supporting the pension using contributions or rollover amounts
• where a member dies, their pension can only be transferred to a dependant beneficiary of that member
• you can’t use the capital value of the pension or the income from it as security for borrowing
• before you can fully commute a pension, you must pay a minimum amount in certain circumstances
• before you partially commute a pension, you must make sure there are sufficient assets to pay the minimum amount, if you haven't already done so.

For more information see, minimum pension standards on the ATO website.