This module is designed to provide you with a broad understanding of self-managed superannuation funds (SMSFs). 

Most Australians have a choice of which superannuation fund they wish to use. There are many options in the marketplace including industry, employer and retail superannuation funds. SMSFs have grown in popularity with around 1.2 million Australians having chosen to set up their own SMSF and manage their own retirement savings.

While this may sound like a good idea, running an SMSF involves a lot of time and responsibility and there are hefty penalties and fines that can apply if trustees do not follow all the rules or administrative requirements. 

For this reason, an SMSF is not the right option for everyone. Anyone considering an SMSF first needs to understand what is involved in setting up and running the fund as this will make the comparison between options clearer. It is important that you seek specialist advice in this area.