About DIY Super

Self Managed Superannuation/ Pension Funds are also referred to as DIY Funds. They today are the most effective tax and Centrelink investment structures and are encouraged by the Government so that people can support or partly support themselves in retirement. They also offer creditor protection, specific opportunities for lump sum benefits, tailored income streams and estate planning.

Superannuation is just a long term investment where your money is accumulated normally until retirement. At that stage it is designed to assist your standard of living during retirement.

You and or your employer may contribute to Superannuation. When you retire what has been contributed, plus earnings in the Superannuation Fund gives you income and or a lump sum benefit.

The benefits of a DIY Super Fund have the capacity to change your future, lifestyle and of your future generations. It is worth your while to become familiar with how a DIY Super Fund works.

Your retirement may last 40 years and planning and acting for it can make an enormous difference to your retirement lifestyle. Government life expectancy tables show men at age 65 on average live 18 years and women 21 years. Many people live longer and there are more people than ever over 100.

There are ways to minimize your fees and taxes by DIY Super and this maximizes your DIY Fund investment performance over the years. An extra percentage each year in the Fund's investment performance can make a large difference to your eventual retirement savings. Over a lifetime of work your Superannuation investment can be hundreds of thousands of dollars or even more. Unnecessary fees and charges can substantially reduce these Superannuation investment savings.

The Fund trustees or the directors of the corporate trustee are also members. The members therefore control the Fund and as trustees carry the responsibility of the Fund's action and compliance and as trustees have a duty to act in the best interest of the members.

DIY Super Funds allow you to hold investment in your own names as trustees of the Super Fund.

The growth in DIY Funds has been enormous during the last years and is the fastest growing sector of the Superannuation industry. There are now over 300,000 individual DIY Super Funds that cater for more than half a million members. This growth is being achieved due to the control and flexibility of investments that can be achieved, the taxation benefits and the effective wealth creation vehicles of these DIY Super/ Pension Funds.

All DIY Funds must have a trust deed and this allows the accumulation of investments. All members must be trustees or directors of a corporate trustee. These Funds are supervised by the Australian Taxation Office. However there is an exception where there is an approved trustee and these Funds are under the jurisdiction of the Australian Prudential Regulatory Authority.

All DIY Funds must have a documented investment strategy.

Information Request Doc