More Reasons To Have Your Own SMSF

January 9, 2011

The Superannuation Complaints Tribunal's latest annual report shows that more than half of the complaints they received for the 2010-11 year involved administration issues.

Additionally, 33% involved the distribution of death benefits with a further 13% relating to the payment of disability insurance claims.

Some of the administration issues included:

  • delays in the time taken action switches between investment options;
  • delays in rolling money over to another superannuation fund;
  • insurance premium deductions;
  • investment returns;
  • delays between the date of resignation or retirement and the rollover or payment of the benefit

"These are all further reasons why SMSFs are a premium option for consideration" commented  Andrew Frith of the Self-Managed Super Specialists.  "When you are the trustee and the member of your self-managed superannuation fund the fund and the funds available for retirement are top of mind, not delegated to some large administration organisation which may or may not even be in Australia."




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