Rice Warner

The not-for-profits flourished when their members were in the accumulation phase. It’s a different story now as increasing numbers want a more personalised service as the decumulation phase beckons. If they can’t get it, SMSFs are a tantalising option.

SMSFs endured years of being accused of having high fees that cost their members’ balances dearly. Not only was it false, but now APRA fund members have revealed a deep ignorance of just what fees they’re paying and what it’s costing them. Quite clearly, their funds are failing to tell them the full story.

The regulator’s recent removal of a controversial $500,000 minimum-balance guidance for self-managed superannuation funds provides an opportunity to re-engage with lower-balance funds that have been steered away from SMSFs, the SMSF Association says.

There has been somewhat of a Cold War between the industry and self-managed sectors of Australia’s superannuation environment over the last decade. Words have been exchanged on a near daily basis, discussing with a particular focus on SMSFs coming at a significantly higher cost than the alternatives and requiring a substantial amount of input from…

The debate about whether compulsory employer superannuation contributions should be increased from the current level of 9.5 per cent is constantly simmering, waiting for the next opportunity to boil over.