Date of article: December 2006
Last updated: N/A

Growth in self managed superfund strong

The number of Australians choosing to manage their own super through a self managed superannuation fund (SMSF) is more than you might think.

The growth in the number of SMSFs reinforces the well recognised benefits for retirement savings and estate planning.

The year to June 2006 saw a 6% growth in the number, or equivalent to 17,754 SMSFs. As at June 2006, there were 320,003 SMSFs with a total of $209.9 billion in assets.

The belief that changes to the superannuation system would reduce the popularity has proved to be untrue. It is estimated that about 2,000 new funds are being established each month.