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Self-Managed Super Funds

Self Managed Super Fund

Do it yourself super fund

Some people want the hands-on control that comes with a self-managed super fund (SMSF). Of course, with added control comes added responsibility and workload.

SMSFs can be suitable for people with a lot of super and extensive skills in financial and legal matters. You must be prepared to research and track your super investments regularly if you want to manage them yourself. Super is your investment for your retirement, so don't rush in.

French & Lowden Financial Planners can set up your own private super fund and manage it with yourself, but only under strict rules regulated by the Australian Taxation Office (ATO).

An SMSF can have between one to four members. Each member is a trustee (or director if there is a corporate trustee). Running your own fund is complex.

When you run your own SMSF you must:

Carry out the role of trustee or director, which imposes important legal duties on you.
Use the money only to provide retirement benefits.
Set and follow an investment strategy that ensures the fund is likely to meet your retirement needs.
Keep comprehensive records and arrange an annual audit by an approved SMSF auditor.

 

 

This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making a decision based on this information.

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