What is the most appropriate Superannuation fund in Australia

The most appropriate Superannuation fund in Australia for any transferred funds; for example an Industry, retail fund or Self Managed Superannuation Fund (SMSF) is going to be a function of several considerations, including;

The size of the funds transferred; as a rule of thumb the additional running costs of a SMSF probably means that it is not cost efficient for a fund balance below AUD250,000. However, if the intention is that the balance will grow, then it might be an appropriate choice

The performance and cost efficiency of the relevant funds

The role you wish to play in the management of your funds; if you wish to have the maximum involvement and flexibility in terms of how your funds are invested and managed a SMSF would probably be the best fit, although public funds are cost effective and provide a wide spectrum of features suiting the passive to reasonably active investor; and access to benefits such as group life insurance

Whether you have a financial planner who manages your superannuation in concert with other investments and would like them to be on a common platform, and

Whether regulatory restrictions apply; the British Government, since mid 2006, has required that pension funds be transferred to Qualifying Recognized Overseas Pension Funds (QROPS) or significant taxes are levied on withdrawals. Currently, more than 300 Australian superannuation funds have QROPS certification and the option exists to transfer funds into a QROPS qualified SMSF. Our actuarial partner can provide a QROPS registration package for SMSF’s.

Exfin’s financial planning partners can provide more advice in terms of the options available; ideally the choice should be made in concert with a financial advisor based on your specific plans and objectives.

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