Billions of dollars are still being funnelled into self-managed superannuation funds (SMSFs) from traditional super vehicles annually, which should put an end to speculation that the SMSF sector is in decline, an industry body says.
According to Australian Taxation Office (ATO) figures, $75.6 billion was rolled into SMSFs in the five years to 30 June, 2013, while $19.9 billion was rolled out.
"These numbers hardly suggest an SMSF sector in decline or even treading water. Indeed, what they comprehensively show is that SMSFs retain their strong appeal," according to the SMSF Professionals' Association of Australia director of technical and professional standards, Graeme Colley.
"On average, and on an annual basis, $15.1 billion rolled into SMSFs and $4 billion rolled out of SMSFs."
Colley said the data showed SMSFs were increasingly being used as vehicles for retirement income streams, with more than 90 per cent of payouts from SMSFs delivered in income stream form.
Add new comment