Issue

When establishing a pension, there is an error message stating the ETP Component Payment exceeds the ETP Component Balance. 

Cause

This issue is caused by a Taxable - Untaxed Component under a member's accumulation account. 

Generally, when money is rolled in from Government funds, tax will be taken out from the Taxable - Untaxed Component and this component will be updated to a Taxable - Taxed Component. An SMSF will not carry a component as untaxed for more than one year. 

Refer to the ATO website Calculating components of a super benefit for more information on the  Untaxed Element. 

Resolution

Scenario 1: First-year fund in Class

Navigate to Fund Level > Fund > Load Opening balances

1. Click on Members tab
2. Move the Taxable - Untaxed Component to the correct field

Scenario 2: Not a First-year fund in Class

Navigate to Fund Level > Members > Adjust Member Account Components

1. Move the Untaxed Element to the correct field