Understanding self managed super

A fund that’s run by you, for you and other members of your SMSF

What is an SMSF?

A self managed superanuation fund (SMSF) is a way you can save for retirement.

SMSFs are different to other super funds because they're run by you. So you can invest, manage and build your retirement savings as you choose.

Is an SMSF right for you?

An SMSF will give you more control over your super and retirement planning, but it’s important to understand the responsibilities that come with being a trustee.

Find out if an SMSF is right for you.
 

The benefits of an SMSF

  • More control over your super—You make the key decisions and decide where to invest your money.
  • Flexibility and choice—You construct your fund's investment strategy and enjoy more investment options.
  • Potential tax advantages—Tax savings depend on your personal circumstances and investment strategy.
  • Cost efficiencies—You can pool your super with family or other fund members to create cost savings.

Find out how SMSFs work

Setting up an SMSF

You can set up your self managed super fund online in less than 15 minutes. If you’re ready to get started, you’ll need:

  • a name for your fund
  • the names, dates of birth, address details and tax file numbers of each fund member
  • the company name you would like to use if your fund will be registered as a company (or corporate) trustee
  • documents you can use to identify yourself and each member of the fund.

Ready to set up your SMSF?

Transferring your SMSF

We make it easy to transfer your SMSF and manage your fund with:

  • a simple set-up and 15-minute online application process
  • ongoing support and personalised service from a team of AMP SMSF experts
  • a secure, online dashboard you can use to manage your fund
  • daily fund monitoring to help with your fund’s compliance and more.

Ready to transfer your SMSF?

How to invest

When it comes to investment options for your SMSF, you have a lot of choice. You can invest in:

  • cash and term deposits
  • direct shares
  • managed funds
  • property and more.

You also get to choose the mix of investments for your fund through an investment strategy.

Find out how to invest your SMSF.
 

To qualify as an SMSF your fund will need a group of individuals or a company to act as its trustee.

It’s important to choose the structure that best suits your needs—the structure you choose will influence how the fund is administered and the cost of setting up and running the fund.

Individual trustee structure

If you choose an individual trustee structure for your SMSF and you’ll have more than one member in your fund, the following requirements will apply:

  • the fund must have four members or less
  • all members must be trustees of the fund
  • all trustees must be members of the fund
  • no member of the fund can be an employee of another member of the fund, unless they are relatives
  • trustees cannot be paid for their services (except in limited circumstances).

If you’d like to know more about the individual trustee structure, download the SMSF trustee structure guide.

Company trustee structure

If you choose a company (or corporate) trustee structure for your SMSF and there is more than one member in the fund, the following requirements will apply:

  • the fund must have four members or less
  • all members must be directors of the company that has been set up to act as the company trustee
  • all directors must be members of the fund
  • no member of the fund can be an employee of another member of the fund unless they are relatives
  • the company trustee and the directors cannot be paid for their services (except in limited circumstances).

If you are the only member of your fund you must be either the sole director or one of only two directors of the company trustee. You cannot be an employee of the other director and directors cannot be paid for their services (except in limited circumstances).

If you would like to know more about the company trustee structure, download the SMSF trustee structure guide.
 

It’s time to start implementing your investment strategy and managing your fund.

There's a lot that needs to be done to maintain your SMSF and keep on top of the administration and compliance obligations. The laws governing SMSFs are complex and can change frequently so you’ll need to keep up-to-date.

How we can help

SMSFs can be quite simple or quite complex, depending on your needs. There's a lot to consider, but you can outsource things like administration to save time so you can focus on what's important to you.

AMP SMSF Solutions can help you with the administration of your SMSF so you can concentrate on your investment strategy and retirement planning.
Find out more about AMP SMSF Solutions.
 

Learn about the basics of SMSFs

Find out if an SMSF is right for you

Learn more

Want more information about AMP SMSF Solutions?

Ready to take control of your super?

Set up your SMSF

Important information

Show more

It’s important to consider your particular circumstances 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.

AMP SMSF Solutions is offered by Australian Securities Administration Limited, an AMP company.