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Hewison Insights

SMSF’s – the largest share of the pie

Simon Curtain
Partner/Private Client Adviser
30 Jan 2011

The Australian Prudential Regulation Authority (APRA) recently released its Annual Superannuation Bulletin. The bulletin reveals that the total level of superannuation assets in Australia grew by around $150 billion during the year to total $1.23 trillion at 30 June 2010.

Of this, Self Managed Super Funds (SMSF’s) make up the largest share with around $390 billion invested, this was a 16.9% increase compared to last year.

Other superannuation funds are represented as follows:

We are not surprised to see SMSF’s representing the largest share of the pie. SMSF’s are an ideal structure for wealth accumulation leading up and throughout retirement as they provide an increased level of control and flexibility over your financial future.

Unlike other superannuation funds, the members of a SMSF are also the Trustee’s of the fund. This means you have full control over where and how your superannuation assets are invested as well as the flexibility to alter the mix of assets as your circumstances change.

With such a large share of the pie it is no wonder the ATO has flagged SMSF compliance as a major issue going forward. While SMSF’s offer many advantages, care must be taken to ensure they are run in accordance with Government legislation as the penalties for non-compliance can be quite severe.

If you or someone you know may be interested in finding out more about SMSF’s please contact your Hewison Private Wealth adviser.

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.auPlease note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.