People in Australia can save money for their retired life by setting up self managed super funds. These funds enable all working people to set aside part of their income during their productive years and avail of tax benefits while doing so.
Self managed super funds Australia are invested with the sole aim of increasing the money that will be available for the person or persons after retirement. The persons investing in these funds can make their own selections on the investments that they make with these funds. Certain rules and restrictions have to be followed and compliance attested if tax benefits are to be claimed.
The funds are managed by trustees who are also members of the fund. These funds can have insurance policies for each of its members. The pooling of assets often helps these funds to have an increased diversity of investment that can lead to higher returns.