- 1. www.lasseter.com.au [email protected].: 1300 083 691
An Introduction to Superannuation
2. www.lasseter.com.au [email protected].: 1300 083 691
Lasseter has prepared this presentation for general information
purposes only and does not constitute personal advice. You should
not act solely on the basis of material contained in this
presentation.We recommend that formal advice is sought which
considers all your individual objectives and needs. No material
contained within this report should be construed or relied upon as
providing recommendations in relation to any financial product.
General Advice Disclaimer 3. www.lasseter.com.au
[email protected].: 1300 083 691 In Australia we have 5 basic
types of superannuation funds: Corporate and Public Sector (Eg
Public Service Super) Industry (Eg Cbus Super) Retail; (Eg AMP
Superannuation) and Small APRA Funds (Similar to a SMSF but has a
register superannuation Trustee) Self Managed Superannuation Fund
(SMSF) In this presentation we will focus on three of these types
Industry, Retail and SMSF. Types of Superannuation 4.
www.lasseter.com.au [email protected].: 1300 083 691
Selecting the Right Fund Industry Retail SMSF Control Trustee
discretionally makes all decisions Choice of Asset Classes You own
the assets. You make the decisions Investment Choice Adequate
(usually 3 to 10 investment options) High (large range of
investment options) Unlimited (all investments allowed under
legislation) Flexibility (eg pensions, asset transfer,
adaptability) Basic service levels Good but not tailored to
individuals Completely tailored to your needs Cost (MER) 0.4 to
1.5% (average approx 0.5%) 1.5 to 4.0% (average approx 2.2%) 0.25%
to 1.5% (the bigger the fund the smaller the MER) 5.
www.lasseter.com.au [email protected].: 1300 083 691 Likely
Best forThose: Who dont want to be too involved in their super but
need substantive life and income protection insurance. Advantages:
Wide choice of investments some even allow direct share trading
Typically good website and reporting Better ones have high quality
insurance and estate planning options Many offer spouse splitting
and other important functions Retail Funds 6. www.lasseter.com.au
[email protected].: 1300 083 691 Disadvantages: Extremely
expensive. Most expensive form of superannuation. Third party
trustee can make decision to protect themselves not help members.
Need to make decisions well in advance, and paperwork can be
cumbersome for pensions, spouse splitting and withdrawals.
Extremely inefficient during the transition to retirement years
(55-75) Can be inefficient for small balances Retail Funds 7.
www.lasseter.com.au [email protected].: 1300 083 691 Likely
to Best forThose: Who dont want much involvement in their super Are
only in the accumulation stage Advantages: Generally low cost. For
balances between $10,000 and $200,000 highly likely to be the
cheapest option. Enough investment options for simple accumulation.
Can be very good for accumulating balances with minimal attention
to your super. Industry Funds 8. www.lasseter.com.au
[email protected].: 1300 083 691 Disadvantages: Generally
poor administratively (websites, phone centres, speed of
processing) Typically have very poor options with pensions, spouse
splitting, withdrawals. Need to make decisions well in advance and
need to follow up constantly. Insurance options often overpriced
and/or unsuitable Estate planning options usually very poor Default
funds are relatively aggressive and probably only suit those below
50 Be very careful of funds with a high weighting to unlisted
assets (property, infrastructure and private equity) CBUS,
MTAA,Westscheme,AGEST,Australian Super, Host Plus, Hesta Industry
Funds 9. www.lasseter.com.au [email protected].: 1300 083 691
A self managed superannuation fund (SMSF) is a fund that meets the
definition of a SMSF in Section 17A of the Superannuation Industry
(Supervision) Act.This generally means that a fund is a SMSF if: it
has four members or less no member of the fund is an employee of
another member of the fund, unless they are related each member is
a trustee trustees receive no remuneration for their services as
trustees. What is a SMSF? 10. www.lasseter.com.au
[email protected].: 1300 083 691 Likely to best for those:
Who have over $200,000 in Super assets (This amount will vary from
person to person) Are prepared to be involved in their super fund
Are in or approaching their retirement age Advantages: Full control
of every part of your super Full Investment choice including
government guaranteed cash and direct property Pension,Withdrawal
and Contribution superiority Lower fees than all retail super funds
and competitive with industry funds above $200,000. Cheapest option
for large balances * subject to service provider fees Up to 4
members pooling assets and managing cash flows for the best results
for all parties SMSF 11. www.lasseter.com.au
[email protected].: 1300 083 691 Disadvantages: May require
your regular involvement in the fund if you do not use a full
service provider like Lasseter Not practical for balances of less
than $200,000 Not practical for those living overseas for the long
term SMSF 12. www.lasseter.com.au [email protected].: 1300
083 691 Establishment Costs FREE (Lasseter will establish your SMSF
at no cost) Corporate Trustee - $444 (One Off ASIC Fee) see our
SMSF Starter Package Annual Accounting and Tax starting from $1320,
see our Compliance and Administration Package Annual Audit starting
from $330 * Annual ATO Levy - $150 Annual ASIC Fees - $212 (only
for corporate trustee) Other Professional Fees ie Financial Advisor
Investment Fees depending on investments chosen SMSF Costs 13.
www.lasseter.com.au [email protected].: 1300 083 691 If you
have any queries please call us on 1300 083691 or We can contact
you request via our website press here View our SMSF Starter
Package View our Compliance and Administration Package What Next?
14. www.lasseter.com.au [email protected].: 1300 083 691
Lasseter InFocus Offices: T: 1300 083 691 Melbourne Altona E:
[email protected] Geelong W: www.Lasseter.com.au
