SMSF are competitive and cost-effective – ATO Dec 2011 statistical report

Basics about Super - SMSF are competitive and cost-effective – ATO Dec 2011 statistical report

SMSF Competitive Costs

The Australian Taxation Office’s (ATO) latest statistical report on self-managed super funds (SMSFs) prove SMSFs are competitive with other superannuation sectors in terms of fees, according to chief executive of the Self-Managed Super Fund Professionals’ Association (SPAA), Andrea Slattery. The ATO’s SMSF statistical report for December 2011 showed falling average fees in the three years to 2010, from 0.95 per cent in 2008, to 0.67 per cent in 2009, to 0.65 per cent in 2010. The report said per member fees for SMSFs are 40 per cent less than total fund fees and 38 per cent of SMSFs had fees less than 0.25 per cent per fund in 2010. Slattery said looking at the trends it would be reasonable to expect fees to be even lower now. She said the ATO report proved SMSFs were in good health, despite the continued fallout from the global financial crisis. Bela Moore, Money Management SEE ARTICLE
The latest Australian Taxation Office (ATO) superannuation statistics have shown the self-managed super funds (SMSFs) are now the most cost-effective retirement savings vehicles in the country. The Self-Managed Super Funds Professionals’ Association of Australia (SPAA) said the statistics compare very well to the competing retail and industry fund sectors.  SPAA quoted comparable fees for retail funds being 2.1 per cent and 1.1 per cent for industry funds, although direct comparisons may not be an accurate measure. Darin Tyson Chan, Morningstar website SEE ARTICLE

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