NEWS – Popularity of SMSF continues

NEWS – Popularity of SMSF continues

Popularity of SMSF continues

In 5 years to 2013 nearly 4 times money moved INTO SMSF than rolled out – showing continued strength in the sector.

According to Professional Planner 

Rollovers into self-managed super funds (SMSFs) are still showing a drain of funds from the APRA-regulated funds in gross and net terms, says Graeme Colley, Director of Technical and Professional Standards of the SMSF Professionals’ Association of Australia (SPAA).

Colley says the latest figures from the Australian Taxation Office (ATO) conclusively show that over the five years up to 30 June 2013, $75.6 billion was rolled into SMSFs and only $19.9 billion was rolled out of SMSFs.

“On average, and on an annual basis, $15.1 billion rolled into SMSFs and $4 billion rolled out of SMSFs. These numbers hardly suggest an SMSF sector in decline or even treading water. Indeed, what they comprehensively show is that SMSFs retain their strong appeal.”

Colley says the data does not distinguish between amounts rolled between SMSFs and amounts rolled to or from non-SMSFs.”

And reporting by Krystine Lumanta, at selfmanagedsuper 

Most amounts rolled in, 65 per cent, or rolled out, 60 per cent, involved SMSFs with assets of between $500,000 and $5 million,” he (Colley) said. The ATO figures also highlighted the importance of the benefit payments trend from SMSFs, confirming their role in providing retirement incomes and meeting the government policy objective of super providing income streams for Australians, he said.

“In the 2009 financial year, income streams amounted to 75.7 per cent of all benefit payments from SMSFs, of which transition-to-retirement income streams (TRIS) amounted to 9.1 per cent of total payments,” he said. “By the 2013 financial year, the proportion of income streams paid from SMSFs had increased to 93.2 per cent, of which 11.4 per cent were TRIS and just 6.8 per cent were lump sums, compared with 13.8 per cent of lump sums in the 2009 financial year.”

He added the 2013 financial year showed a deficit in the payment of benefits over all contributions made to SMSFs of just over $2.23 billion. “This was the first year in which employer, member and other contributions combined were less than the amount of benefit payments,” he said. “However, when net rollovers are added to contributions there remains an increase in net inflows to funds from both contributions and net rollovers of just over $10 billion.”

Interested to know what self-managed super (SMSF) is all about, and if it is for you? Come to a FREE seminar with bonuses NEXT month  Self Managed Super Fund Roadmap (all you need to know) for the next monthly event, see SMSF – FREE Seminar  or call us 0407 361 596.

Got questions? If you want experts who have years of helping others, without the hype – then call for a FREE strategy session today and also get your FREE Expert Guide – Self-Managed Super and You top right hand side above.

If you have any questions, why not give us a call – it’s FREE also!

No obligation. 0407 361 596, Paul.


About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
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