What are Superannuation Funds?
The basic usage of the superannuation fund is that it is a type of long term savings account. The idea behind maintaining this fund is to ensure that there is a continuous flow of income after retirement.
This fund is managed for the benefit of its beneficiaries or members once they retire. The governing body that regulates this firm is the superannuation industry (supervision) act of 1993. Along with this, there is another way in which these SMSF can be managed. This type of funds are called self managed superannuation funds.