SMSFs and the Super System Review

Self Managed Superannuation Funds have not been forgotten and will not be treated as an afterthought.

The Review Chairman, Jeremy Cooper, has indicated that dealing with SMSFs as part of the Third Phase does not mean that the SMSF sector is the least significant sector of the Super System or that the Review will deal with SMSFs in a superficial way.

Review Chairman Cooper has indicated, in the Foreword to the Scope Paper, that the Review proposes to devote attention and resources to the SMSF sector of the Super System commensurate with the number of SMSF members, their share of super savings and the complexity of the SMSF issues that arise during the Review. 

The Chairman has indicated that the Review’s collective consciousness is aware that the SMSF sector constitutes approximately 30% of Australia’s super savings.