Oct12025
Estate PlanningNewsSuperannuation Fund What Happens To Your SMSF When You Die

What Happens To Your SMSF When You Die?

Estate Planning, News, Superannuation Fund

Estate planning is not one of the more pleasant things to think about, but it can be comforting to know what happens to your Self-Managed Superannuation Fund (SMSF) is going to go when you die. It can also be comforting to know that taxes won’t consume a large portion of their inheritance. Here are some of the fundamentals of where an SMSF goes when you die and how taxes are paid.

According to the Australian Securities and Investments Commission (ASIC), it is recommended to fill out the form which determines where your money is supposed to be distributed in case of your death. This can keep your family’s money from being “tied up” in their time of grief. (1)

If You Die, Who Gets Your SMSF Super?

In the case of your death, the trustee of your super pays the money, known as your “death benefit,” to your dependent, dependents or estate. Your dependents include your spouse or same sex de facto partner and your children. It can also include anyone with whom you were financially interdependent or anyone who was dependent upon you financially. (1)

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Aug172025
Superannuation FundInsurance ProtectionNewsRetirement Planning Superannuation Statements

Superannuation Statements - What to Check

Superannuation Fund, Insurance Protection, News, Retirement Planning

Last financial year's superannuation statements are hitting your mailboxes over the past week.

You must check that your details are correct. The following is the type of information you should be checking:

  • What is your balance.
  • Is the balance trending upwards over time - remember the Centrelink aged pension will probably not provide enough for the niceties in life. Chances are you will be relying on your superannuation for a better quality of life in your retirement.
  • Are all this year's superannuation payments showing on your statement?
    Only recently we had a client whose superannuation guarantee payments from his employer were going into a different fund to the one he thought. And in rare cases, unscrupulous employers have been known not to make their payments at all even though they have a legal requirement to do so.
  • Do you have insurance within your superannuation (life, income protection or total permenant disability)?  Is it still sufficient for your needs? Remember that insurance premiums within your super fund are paid from your superannuation returns rather than billed to your directly. This makes them a convenient form of extra financial security, but one that is easy to overlook.

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Aug122025
NewsSuperannuation Fund How to Find a Lost Superannuation Account?

How to Find a Lost Superannuation Account?

News, Superannuation Fund

According to the Australian Taxation Office (ATO), approximately six million superannuation accounts or “supers” were “lost” in 2014. The accounts were valued at more than $16 billion. (1) There are many individuals who may have lost superannuation that they are not aware of.

These accounts, however, can be “found.” The proper account holder merely needs to claim the account. There is a chance that you have a lost superannuation that you don’t know about. (2)

There are a lot of Australians who own more than one superannuation account. Each of these funds has its own charges and fees. According to our parent company, AMP Capital, you may have money scattered across multiple supers, both active and lost. This could cost you thousands of dollars over the part of your lifetime you spend working. The good news: you can save thousands of dollars by finding a lost superannuation or supers and consolidating them into one account. (

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Jan132025
NewsSuperannuation Fund Understanding Superannuation

Understanding Superannuation

News, Superannuation Fund

One of the many financial services we offer at Approved Financial Planners is help with your superannuation fund. Whether you choose self managed superannuation or any of the super funds available to you, we can provide sound financial advice and improve your understanding of superannuation.

How Superannuation Works

Money is placed into your superannuation account, also known as a “super account” or “super,” by you, your employer or both. The money in your super fund is then invested with the intent of it growing in time, even though it will occasionally return a negative result for the year. *

As a super grows, the money earned is reinvested and also earns a return, helping your balance grow even more. On member contributions for which you claimed a tax deduction or on contributions from your employer, your tax is only 15% of any contribution up to $30,000 per year. The $30,000 limit is known as the “concessional contributions cap.” *

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