Self Managed Super Funds (SMSFs)
Considering an SMSF? Here’s what you need to know.
A self-managed super fund (SMSF) is a private super fund that you manage. Unlike traditional super funds, you control how your retirement savings are invested. SMSFs can have up to six members, and all members must be trustees—legally responsible for managing the fund and complying with super and tax laws.
The key benefits of an SMSF include having more control, allowing you to choose how and where your super is invested. You also get flexible investment options such as shares, ETFs, property, term deposits, and more. When managed correctly, there are potential tax advantages. Additionally, your super is generally protected from bankruptcy, providing valuable asset protection.
Things to consider
Closing/winding up an SMSF
If running your SMSF no longer suits you, you can wind it up and transfer your super to a professionally managed fund like CareSuper.
Winding up steps include:
- Agreeing with all members
- Selling assets and meeting release conditions
- Lodging final returns with the ATO
See ATO’s SMSF wind-up checklist.
Transfer your SMSF in 2 steps.....
Open a CareSuper account
It takes less than 5 minutes, join now.
Transfer your balance
Transfer your balance via Member Online or submit a paper form.
You'll need your SMSF’s name, ABN and Electronic Service Address (ESA) handy.
Need help?
Call us on 1800 005 166 or see our ‘How to transfer your SMSF to CareSuper’ fact sheet.
Try our Direct Investment option (DIO)
Still deciding?
Ask yourself:
- Do I have the time and skills to manage an SMSF?
- Is my balance large enough to justify the costs? (Generally $200K+ recommended)
- Could a managed fund deliver similar or better outcomes?
Remember, even if you outsource admin tasks, you are legally responsible for the fund’s compliance.
Read our SMSF factsheet for more information.
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