From www.heffron.com.au: Many clients are considering winding up their large market linked pensions due to a recent amnesty, but there are potential downsides, such as reduced tax-exempt income and difficulties related to personal tax liabilities.

Smaller market linked pensions may present more significant complications, particularly for those utilizing Centrelink benefits, which could lead to unfavourable reassessments if wound up.

Proper documentation and planning are crucial to navigate the complexities associated with the commutation and wind-up process effectively.