Q&AMP

What is an SMSF and how is it different to other super funds?

Answer

In simple terms, a self managed superannuation fund (SMSF) is a small super fund that is managed by its members, with its primary purpose being to provide retirement benefits for its members, or a benefit to their dependants if a member dies before retirement.

In other superannuation funds, such as large retail, corporate or industry funds, there can be thousands of members but they are not the managers of the fund – so they are not responsible for managing the fund’s investments or compliance with superannuation law.

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Important information

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It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.

This information is provided by AMP Life Limited. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.