Report to provide insights on actual cost of SMSF

Rice Warner is to launch a report which will analyse when self-managed superannuation funds (SMSFs) are cost-effective compared with other options.

The SMSF Association said the report would also provide insights about the investment performance of the SMSF sector compared with the Australian Prudential Regulation Authority (APRA) regulated sector over the past 15 years, and would be launched during its SMSF week from 23 to 27 November.

The association’s chief executive, John Maroney, said: “In the face of ongoing public debate about the appropriate minimum size of an SMSF, and ASIC statements regarding costs incurred by SMSF trustees, the association commissioned Rice Warner to update its 2013 report on the costs of operating an SMSF that was originally prepared for ASIC.

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“Sponsored by SuperConcepts, this updated report analyses actual expense data for more than 100,000 SMSFs and provides invaluable insights about the actual costs of running an SMSF.

“With current Australian Securities and Investments Commission guidance advising caution on establishing SMSFs with balances below $500,000, the updated report throws new light on when SMSFs are cost-effective compared with other options.”

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