Self managed superannuation (SMS) is a type of self-managed retirement savings plan available to employees in some jurisdictions. Employees contribute money directly to their SMS account, which the employer then invests on their behalf. The benefits of SMS vary by jurisdiction but generally include tax advantages and freedom from workplace contributions requirements.

In recent years, there has been increased interest in SMS as a way to improve individual retirement prospects. You can also get in touch with a DMA financial strategists to know more about SMS. Individual savers can control their own investment mix and timing, while still benefiting from the pooled investment expertise of an organization like their employer.

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A self-managed superannuation fund is one that is controlled and managed by the individual owner or members of the fund. The concept of self-managed Superannuation funds has been around for many years and is gradually gaining popularity amongst individuals.

There are a number of reasons why some people may decide to set up a self-managed superannuation fund, including wanting more control over their retirement savings, having more flexibility in how they manage their money, and being able to invest money in ways that suit their personal financial situation.

There are numerous benefits associated with setting up a self-managed superannuation fund, including greater flexibility in investment options, reduced costs and administrating fees, and the potential to generate higher returns than typically available through traditional superannuation funds.

It can be a great way for individuals to ensure that their retirement savings are invested wisely and achieves their long-term financial goals. There are many sources of advice when it comes to self-managed superannuation.