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Antony Joseph

Jul 19, 2022

Roll over from SuperSA to SMSF

in SMSF Technical Forum

once my client wants to set up SMSF. He is a member South Australian (SA) health services employee aged 45 years . He is a member of SuperSA , a SA government managed super fund . He joined the fund in 2010 and a balance of 150 K

Question

Can the person roll over the full balance from Super SA to his SMSF. Is there any restriction being a state government managed super fund.

1 answer0 replies

Comments (1)

THE AUDITORS INSTITUTE

Jul 20, 2022

Hi Antony

Yes you can normally roll over to a regulated / complying SMSF from any Fund.

Super SA look after a number of Funds so the rules may be different for each Fund.

The main issue that I am aware of that may stop them being able to do it would be if they were a member of a defined benefit fund in the Super SA Fund (& they do have such accounts).

The member should contact the Fund on 1300 369 315 & discuss it with them as to what their options are.

Rollover requests now need to go through the SuperStream rollover process.

Thanks

SMSF AAA