As a general statement this is completely untrue!

This is a recent proposition that has been put forward by some in the superannuation industry, particularly those tied to the industry fund sector.

It all depends on your circumstances and what you want to achieve in your fund, and it is vital that any comparison between SMSF’s and other funds be performed on a like for like basis – not an oranges and apples basis!

Industry funds may provide benefits in cheaper insurance and admin costs for some members in some circumstances; however, for others the benefits of flexibility and control of an SMSF are more suited to their needs.

If you are considering a switch to or from an SMSF, make sure that you have all the information that you need to make the choice, and please consult a financial planner as required.