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Date of article: 12 September 2007
Last updated: N/A

Some SMSF statistics

At the end of June 2007, there were more than 360,000 self managed superannuation funds and almost 690,000 people are now members of self managed superannuation funds. On average, each fund holds around $800,000 (source: Australian Taxation Office).

"Having control over how a fund's assets are invested appears to be a powerful incentive for people to manage their own super." said Michael D'Ascenzo, Commissioner of Taxation, but he also said that SMSF is not the right option for everyone.