Self-managed super funds (SMSF)
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A self-managed super fund (SMSF) is a type of investment fund that is managed by a group of no more than six trustees for the purpose of accruing money for retirement. The members of the fund are also the trustees, which means they have full control over the fund’s investment decisions. The primary purpose of an SMSF is to provide for the retirement needs of its members. An SMSF offers individuals greater control over their retirement savings, allowing them to tailor their investments to their specific needs and goals. This flexibility is one of the key benefits of an SMSF.
One of the primary benefits of an SMSF is the greater investment flexibility it provides. SMSFs have a wider range of investment options compared to other types of super funds, including the ability to invest in direct property and other alternative assets. SMSFs also offer the ability to pool super funds with other members, which can lead to cost savings and increased investment opportunities. Effective tax management is another benefit of an SMSF, as it allows individuals to take control of their tax liabilities and maximize their tax benefits.
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