Self-Managed Superannuation Funds or 'SMSF's" have
become increasingly popular throughout Australia. Like a
traditional superannuation plan, an SMSF involves the management by
a trustee of capital and contributions from plan members for
retirement purposes.
In a traditional superannuation plan, a super fund often
operates as a trust. The trustee is responsible for the operation
of the fund and has an obligation to formulate and implement an
investment strategy. A trustee is liable for breaches of these
obligations. Traditional superannuation plans often have thousands
of members in their plans. Trustees for these plans usually have
backgrounds in finance and are often some of the best
money-managers in the country. The trustees are experts in
compliance with the laws and utilise the latest industry resources
and personnel to ensure that they are fluent with tax and other
regulatory issues concerning the fund.
