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Benefits & features
What is DIY super?
A DIY fund is designed for people who want to take greater
responsibility for their superannuation. Seek advice about eligibility and
compliance requirements. There are two main types of DIY super, Self Managed
Super Funds and Small APRA Funds.
Handy with super? Do it yourself
| Abbreviation | Type | Responsibilities |
|---|---|---|
|
SMSF |
Self Managed Super Fund |
All members are also trustees (or directors of a corporate trustee). Trustees are responsible and accountable for all investment decisions. Trustees must ensure that the fund complies with the Superannuation Industry (Supervision) Act 1993, and other legal/regulatory requirements. |
|
SAF |
Small APRA Fund |
Has a Trustee approved by the Regulator (APRA) APRA is responsible for management and investment of the superannuation fund. |
 |
Features
'Do It Yourself' super is a personal
super fund that has fewer than five members. The investment strategy is
determined by the fund's trustees.
Benefits
By choosing a DIY fund, you can have
more control over your investments. The fund can move with you when you change
jobs.
Disadvantages
There are also some disadvantages to
setting up a DIY fund. Set-up costs are high. It can be time-consuming and you
must have a good understanding of investment markets, funds management and
Government regulations.
|
| Find out more about investment |
|
Find a financial adviser using BT's Adviser Referral
Program. Learn about BT's super funds. |