Is a SMSF right for me?

Q.

I am 56 years old, have a self managed super fund of $750,000, and I am salary sacrificing $2,400 a month. My accountant is suggesting I convert my SMSF to a transition to super withdrawing approximately 5%. He has given my all the pro's about it but I cannot seem to find any con's. Can you advise whether I should consider converting and what are the cons?

The only disadvantages are that you would be reducing your superannuation balance if the net contributions are less than the amount you draw out. Also, you need to understand that the income from the pension will be taxable at normal marginal rates less a 15 percent rebate until you turn 60. All in all, it should be a very worthwhile strategy.