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What is Self-Managed Superfund

Superannuation funds are trusts. A trust is not a legal entity, but its trustee holds funds for the benefit of members.

A self-managed superannuation fund is a small private fund. It is usually established by people who want to have a more direct hands-on role in running their own fund. These funds often make direct investments.

Superannuation funds are governed by the rules contained in the superannuation trust deed. It is also regulated by the Superannuation (Industry) Supervision Act and Regulations. Effectively, self-managed superannuation fund are regulated by the Australian Taxation Office.

A self-managed superannuation fund is one where:

there are less than five members
all the members are trustees and there is no other trustees
all the trustees are members and there is no other members
no members are employees of another member unless they are relatives
no trustees receive any remuneration for their trustee services

The requirement that all members be trustees ensures that each member is fully involved and has opportunity to participate in the decision making of the fund, promoting true self management.

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