More and more Australians, in order to take control of their retirement nest egg and cut down on fees adversely affecting their returns, are choosing to opt for self-managed super funds (SMSFs) instead of passively investing in a superannuation fund.
A Self Managed Super Fund (SMSF) is a trust structure, established through a trust deed that can be used to manage retirement savings on behalf of its members. SMSFs are established for the sole purpose of providing financial benefits to its members in retirement, and can be passed to beneficiaries upon death. The difference between an SMSF and other types of the fund is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their own benefit and are responsible for complying with the super and tax laws.
A Self Managed Super Fund (SMSF) is limited to four members. It can provide the members with greater control over their super fund assets.
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