DIY super is becoming increasingly popular in Australia and while these super funds offer some benefits, including access to a broader range of investment options, it's important you're aware of the compliance responsibilities and obligations in setting up and managing your own super fund.
There are two types of DIY super - self-managed super funds and small APRA funds (SAFs).
Self-managed super funds
Typically a self-managed super fund (SMSF) is only recommended to individuals or couples who have more than $200,000 in super to invest and who have the time and knowledge to run the fund. It's not for everyone.
For more information watch our Self-managed super funds video.
Small APRA funds
Like an SMSF, a small APRA fund (SAF) gives you freedom of investment choice but, unlike an SMSF, you don't have the burden of managing the compliance requirements of the fund because a professional trustee manages it for you.
If you are considering starting up a DIY super fund, find out if it's right for you and make an appointment with a Bridges financial planner.