Is self-managed superannuation right for me?
Self-managed superannuation is not for everyone.
The Australian Securities and Investments Commission (ASIC) has, through its Moneysmart website, issued a series of warnings for those thinking about establishing an SMSF and has released some guidance for advisers who speak with people about establishing an SMSF. (ASIC Information Sheet 274 - INFO 274)
The Australian Taxation Office has its own recommendations for those considering an SMSF. It has also released a consumer guide comparing SMSFs with other superannuation funds. The guide provides high level comparisons across areas including:
- Members and trustees
- Responsibilities
- Investments
- Insurance
- Regulation
- Complaints and disputes
- Fraudulent conduct or theft.
The full text of the guide can be accessed Here