Self Managed Super Funds

Thinking about doing it yourself?

Setting up a Self Managed Super Fund (SMSF) may sound like a good idea, but do you know what you’re getting yourself into? Take a look at how running a SMSF compares to being with Cbus:

SMSF	Cbus
You bear the risk. You will be legally responsible for every decision and every action your fund makes.	Cbus looks after the legal requirements. Cbus is responsible for ensuring the Fund meets the legislative requirements, not you
It’s time-consuming. You’ll need to devote at least a couple of hours each week to meeting the legal and administrative requirements of running the fund.	It doesn’t eat into your time. Other than reviewing your super account and benefits from time to time, there’s little you need to do to maintain your Cbus account
It’s expensive. Most SMSF’s pay an accountant or financial adviser to help them run the fund.	Low fees Cbus has low administration and investment fees.
The Superannuation Complaints Tribunal (SCT) can’t help. SMSF’s don’t have access to the Superannuation Complaints Tribunal, so disputes could result in legal action.	You can access a complaints process. Cbus has its own complaints process. You can also take your complaint to the Superannuation Complaints Tribunal.
Investment risk Do you have enough money to be able to diversify your investments and spread the risk?	Choice of investment options Cbus members can choose from six investment options, so you can tailor your approach to suit your own risk/return profile.
SMSF’s must meet the sole purpose test The fund must be maintained for the purpose of providing retirement or certain pre-retirement benefits only.	Access to other benefits Cbus members enjoy access to benefits like low cost insurance, health cover, banking products and financial planning advice.