A SMSF is a small super fund with no more than four (4) members that is managed by its members who are also the trustees of the fund. A SMSF's sole purpose is to provide benefits to members upon their retirement, or to a member’s beneficiaries in the event of their death.
SMSF’s differ from public offer (retail, corporate or industry funds), as members of those funds are not responsible for managing the fund and complying with the law.
SMSF’s are a great way to save for your retirement. Listed below are some of the advantages and disadvantages of running a SMSF.