More and more people are realising the advantages of making their own investment decisions and taking control of their retirement strategy.

An increasingly popular way of doing this is by setting up a self managed superannuation fund (SMSF).

What is a SMSF?

Instead of having a retail, corporate or industry fund, individuals can establish their own fund, a SMSF.

An SMSF gives members of the fund control over specific investment choices involving their superannuation. They can tailor their own investment strategies and select specific assets such as listed securities, managed investments, cash and term deposits, international equities, instalment warrants and so on.

Generally a SMSF has the following features:

• a personal or family super fund with no more than 4 members
• each member of the fund is a trustee
• no member of the fund is an employee of another member of the fund, unless those members are related
• no trustee of the fund receives remuneration for his or her services as a trustee
• the SMSF must have a written Trust Deed and Investment Strategy that meets all members’ objectives

Advantages of SMSFs

• greater investment choice – direct and indirect investing
• greater control over investment strategies
• access to investment gearing opportunities not available in retail super funds
• cost effective over long term
• offers preferable tax arrangements
• allows you to look after your family

Is a SMSF right for you?

There is no doubt there are advantages to SMSFs, however you need to consider if an SMSF is appropriate for you. In trying to answer this question, consider these four questions:

• Is the fund strictly for retirement benefits?
• Do you have the time to manage your own fund?
• Will the benefit be worth the cost?
• How will switching to an SMSF affect your current superannuation benefits?

How can we help?

RBS Morgans offers a variety of services for SMSFs, including structure, setup, advice, rollovers, investments, and compliance.

We have investment advisers who specialise in superannuation and a technical research team that provides updates and support on the latest in superannuation developments.

Clients and their accountants can also benefit from our Wealth+ Managed Portfolio Service, which is a reporting facility that we offer for ease of administration.

More information

If you would like to find out more before contacting one of our advisers, the RBS Morgans technical research team has produced ‘An essential guide to self managed super funds‘, which provides further detail on SMSFs.

Contact Us

Contact RBS Morgans Toowoomba to discuss SMSFs and how we can help