DIY Superannuation Funds, Super Funds, Self Managed Superannuation

DIY Superannuation Funds

If you are living and working in Australia, then you need to know about superannuation funds, how they work and which one is best for you.

Superannuation is the main way in which the majority of Australians save for their retirement. At it's most basic, superannuation is income savings from each eligible member of the workforce invested in some form of managed pension fund. Under the superannuation system, your employer is compelled to make regular payments into an acceptable super fund on your behalf, provided you meet the necessary requirements. It is also possible for you yourself to pay additional payments into your superannuation fund and there are some major benefits involved in doing this, especially tax-wise, which we will look at later.

In the following paragraphs we will give a brief overview of superannuation and some of the super funds for which you may be eligible. We will then move on to discuss Self-Managed Super Funds in more detail. Hopefully, along the way, we may help to clarify some of your questions concerning this complex, but important, financial issue.

Superannuation Explained

As was stated above, superannuation is the main form of retirement investment for most Australians. Given that this could be all that is standing between you living comfortably in your old age, or desperately trying to save every last penny, it is important that you have some awareness of what the superannuation system is and how it works.

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DIY Super Funds Overview

DIY Superannuation funds are growing rapidly in popularity with many people deciding that this kind of super fund offers them the best returns on their retirement investments. So what exactly is a DIY super fund? What makes it different from the others? Is it suitable for you? And if it is, how do you do you form one?

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