A self-managed super fund (SMSF) is a way of saving for retirement that you manage yourself.
Unlike an industry super fund (such as Australian Retirement Trust), members of an SMSF are in charge of all parts of the fund. This includes investment and insurance decisions, as well as reporting, tax, and compliance.
If you're considering self-managed super, you need to be aware of the considerable time and money commitments involved in running an SMSF account.
The average time per month it takes to manage an SMSF (Moneysmart, 2023)
The median total cost to run an SMSF in 2019-2020 (ATO, 2023)
No one can decide for you, but here are some of the benefits and risks to think about before rolling over your super to an SMSF.
Complete control over where your super is invested
Access investments that you can't through a super fund, such as art, stamps, coins, and even physical gold
Use your SMSF super to buy an investment property (but keep in mind, you or your family can't live in it)
Match your investment strategy with your personal goals, such as investing in sustainable or ethical assets
Make quick investment decisions as the market changes
It'll cost you time, as you're in charge of your entire investment strategy
You must meet strict reporting and tax requirements (or risk heavy penalties)
You might not get the investment returns you need to retire comfortably, and it can cost a lot of money to run
You could lose insurance or benefits if you rollover your super from a super fund to an SMSF. Learn more.
Unlike industry or retail super funds, you aren't protected if you lose money due to theft or fraud
People wind up their SMSF for many different reasons. Whether you're getting closer to retirement or just don't want to manage the paperwork anymore, you might consider winding up your SMSF account.
To arrange a rollover from your self-managed super to a Super Savings account with us, follow these steps.
The rollover from your SMSF to Australian Retirement Trust or any other fund, needs to take place electronically using ATO SuperStream. We won't accept transferred funds from an SMSF via BPAY or cheque.
You don't need an Australian Retirement Trust BSB and account number to transfer to us. Here's some important details you may need for the rollover.
If you want more control of your investment strategy, you don't have to rollover to an SMSF account. We have a number of diversified and single asset class options available that you can mix and match to suit your needs, without worrying about the extra risks involved in running an SMSF.
Choose to invest in one or more of the options we've designed and manage for you. They offer diversification by investing in a few different asset classes (like shares, infrastructure, and fixed income) at once.
Let us know exactly how much of your super you want to invest in each of our single asset classes options. These can be used on their own or combined with our diversified options, to create your own portfolio of assets.
Learn more about our investment options and how they can best suit your retirement goals and how much risk you're comfortable with.Our investment options
Here's some frequently asked questions about self-managed super.
An electronic service address (ESA) is what you need to provide your employer, so they can pay your superannuation guarantee (SG) contributions to your SMSF. It's important when starting a new job to tell your employer the ESA of your SMSF, and bank account information. For more information, refer to the ATO.
As Australian Retirement Trust is an industry super fund not an SMSF, we don't have an ESA.
If you're a member with ART, you can check or customise your investment strategy at anytime in Member Online.Log in now
While Moneysmart says that having control over your super can be appealing, they recommend only setting up your own SMSF super account if you're 100% committed and understand the risks involved. You should also consider getting some financial advice to see if it's the right option for you.
If you decide you'd like to set up a self-managed super fund, the ATO has a step-by-step process to help guide you.
To arrange a rollover of your Australian Retirement Trust to your self-managed super account follow these steps.
We'll aim to complete the rollover within 3 business days of receiving all required information.