SMSF refers to a Self Managed Superannuation Fund. That is, a small super fund that is managed by its members, with its primary purpose being to provide retirement benefits, or a benefit to their dependants if a member dies before retirement.
In other superannuation funds, such as large retail, corporate or industry funds, there can be thousands of members, though they are not the managers of the fund. Therefore, they are not responsible for managing the fund’s investments or compliance with superannuation law.
SMSFs provides greater control, flexibility, and transparency of your super.
Benefits of SMSFs include:
- Control over how to invest your superannuation money.
- Have the flexibility to select from a wider range of investments. Such as, direct shares, term deposits and even property.
- With greater control, you are able to invest directly in shares for companies, that you are familiar with or you can work with professionals, in order to build a portfolio of shares.
- Can view your individual share holdings, see your term deposits, monitor your cash balance and keep track of rental income from your property.
- Greater visibility of the assets your super is invested in and how they are performing at any point in time.
Call us to find out if SMSF is suitable for you!