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Is a self-managed super fund or a super fund the right choice for you? The answer depends on a few personal factors.

Managing tax, investment choices and monitoring the markets can be complex, and timely. The majority of Australian’s chose a super fund to manage their retirement savings.1

If you already have an SMSF and are thinking about moving it to a super fund, we’re here to help you understand your options so you can make the right decision for you.

Key points:

  • Self-managed super fund (SMSF) portfolios and investment strategies take time to manage and monitor.
  • As the trustee of an SMSF, you need stay across investment markets and strategies. Make sure you understand the responsibilities that come with being your own trustee.
  • Even if you haven’t been with a super fund before, your SMSF can be ‘rolled in’ to your chosen super fund.
  • Consider if the costs associated with an SMSF are worth it for you.
  • Consider if you enjoy keeping up with the latest tax laws and legislation.

What is a Self-managed super fund (SMSF)

An SMSF, or Self-Managed Superannuation Fund, is a type of superannuation fund that allows individuals to manage their own retirement savings. Trustees can generally decide what they invest in. However, there are regulations and rules to consider. Managing an SMSF requires active involvement and knowledge of investment markets. It also means that you are the trustee of your fund and are responsible for complying with superannuation laws, including annual audits, record-keeping and all related fiduciary duties. This can be complex and time-consuming, and there can be significant penalties involved.

With a traditional super fund, the fund is the trustee and handles this responsibility on your behalf. Investment choices are often pre-defined by a team of experts, to provide diversification and long-term growth. [P1]

Aware Super members can select from a range of investment options.

Managing an SMSF comes with significant responsibilities and risks, so it's essential for individuals to be informed and possibly seek professional advice.

Benefits of a super fund over an SMSF

There are some potential benefits to opening a super fund:

  • Lower-cost management of your retirement savings.
  • Investment opportunities and expertise that you may not otherwise be able to access.
  • A choice of investment options, catering to various risk appetites.
  • Easy access to your savings in retirement with a Retirement Income Account.
  • Hands-off account management, which can help save you time.


You can decide to close your self-managed super fund (SMSF) and move your savings into a super fund at any stage of your retirement journey, whether you’re adding to your savings during your working life or drawing down on your savings in retirement. [C1]

Get help with closing your SMSF and rolling into a super fund

Transferring your money from an SMSF to a super fund is a complex process – there’s no getting around it but can be made easier with the right help and guidance.

Aware Super has a team of advisers who can help you understand your options. You can explore your advice options below, and even request a callback. [F5]

Explore advice options

Helpful things to discuss with your adviser before closing your SMSF

It’s helpful to cover off:

  1. Share your reasons for rolling over from an SMSF to a super fund: Make sure the fund can deliver to your financial needs and goals. For example, easy access to your savings in retirement, easy account and investment management.
  2. Tell your SMSF Trustee: You’ll need to formally tell your trustee about your intention to roll over your funds. Our team can help you understand what this means, and how to tackle the task.
  3. Fill in the necessary paperwork: There a few forms you’ll need to be across to close your SMSF. The ATO has some great guidance around winding up your SMSF, and our team can guide you through this and help you manage the roll over.
  4. Manage any existing assets: You’ll need to manage any assets in your SMSF in compliance with regulations. This is the most complex part of the process for many people, but our team can assist you.

Moving your SMSF to a super fund in retirement

In retirement many people decide that they need a more flexible and cheaper approach to managing their savings. A super fund can be a great choice.

  • Opening a Retirement Income Account to manage your super savings in retirement can be a great option. [C1]
  • A financial planner can review your personal situation, financial goals and discuss the options available to you. [F5]


Explore the benefits of a Retirement Income Account

Where to next?

Attend an event

Join our experts as they break down super and finances into easy-to-understand topics through our live webinar education series.

Register for an event

Need guidance or advice

We offer a range of advice options to suit your needs. Our experienced planners can help improve the way you manage your money and plan for your future. 

Book an appointment

Understand fees and costs

We keep our costs competitive.

Our goal is to deliver strong, long-term growth on your investment.

Explore fees

1 Source: Australian Tax Office

[F5] Fees are payable for comprehensive advice, including about your financial situation outside super. If you decide to move forward with comprehensive financial planning, we’ll explain our fees before you begin.

Financial planning services are provided by our wholly owned financial planning business Aware Financial Services Australia Limited, ABN 86 003 742 756, AFSL No. 238430.

[C1] Before consolidating, consider if this is right for you, including the loss of any insurance cover from your other funds, the impact on your investments, and potential tax implications and read the PDS and TMD at aware.com.au/pds. You may wish to speak with a qualified financial planner before making this decision.

[P1] Aware Super's High Growth option return over 10 years to 30 September 2024. SuperRatings Fund Crediting Rate Survey, September 2024. Based on the SR50 Growth (77-90) Index. Returns are after tax and investment management expenses but before the deduction of administration fees. Past performance is not an indicator of future performance.