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Members & Trustees

The trustees hold the assets of the superfund for the benefit of the members. In a self managed superfund the members must also act as trustees and therefore they have complete security, control and flexibility over their superannuation. A self managed superfund may have 1 to 4 members and will have either individuals acting as trustees or a company acting as trustee.

Individual Trustees
Appointing individual trustees is the easiest and most cost effective way to establish a self managed super fund. There is no additional establishment cost. It is a legal requirement to have a minimum of 2 individual trustees. However, it is possible to have only 1 member, as the subsequent trustee does not have to be a member of the Fund. You may appoint an adult relative or friend as an individual trustee.
If you want to establish a fund for yourself only with no other individual trustees the only option is to establish a company to act as trustee.   

Company Trustee
You may decide to establish a Company to act as Trustee for your self managed super fund, of which you are the sole Director & Shareholder and therefore have full control of your Fund. This option is more expensive as ASIC charge a company set-up fee of approximately $457 and an annual fee of $243 (this fee is reduced to $45 if the company is used for the sole purpose of acting as trustee for your self managed super fund). If you would like assistance in setting up a company please contact us.