Superannuation Lawyer Hills District, SMSF Trust Deeds
(02) 9688 6023
info@franklegal.com.au

Superannuation

"Plan for the future that is waiting for you."

Superannuation – a National Saving Scheme…

Superannuation is a national saving scheme for your benefit. Savings by you and by your employer accumulate for your benefit while you work to assist funding you in retirement. The scheme prescribes that the employer pay money into a superannuation fund (superannuation guarantee contributions). You can make voluntary contributions in addition.

How is the superannuation fund managed?

The superannuation fund is required to operate in accordance with a set of laws and regulations controlled by the Federal government. The superannuation fund is managed by a trustee company or individuals acting as a trustee in accordance with legal principles and in accordance with the terms of a Trust Deed. It is intended that the fund will provide benefits for you as a member on your retirement or for your family upon your death. You should identify your options by obtaining timely legal advice and advice from other appropriate advisors.

Can I access my superannuation early?

You may be able to access your superannuation early in circumstances of:

  • Severe financial hardship
  • Terminal illness
  • Permanent incapacity
  • Specified compassionate grounds.

There are specific criteria you must meet to be eligible for an early payment of superannuation benefits. You should get legal advice if you have questions around eligibility.

What can I do if I have a dispute concerning my superannuation?

An internal complaints resolution service is usually prescribed by each fund. We can assist you in formulating your complaint before you contact your fund. Should the complaint not be solved with the fund, a complaint can be lodged with one of the below organisations.  Care must be taken when lodging the complaint to ensure it is lodged correctly and that it is lodged with the appropriate organisation. Organisations with whom a complaint may be lodged include:

Do I need legal advice?

We recommend that you obtain legal advice as soon as you have any concerns or before entering into a superannuation arrangement which does not involve your employer. Examples as to when you need advice in relation to your superannuation rights and obligations include:

  • If you feel unsure or uncertain
  • When obtaining estate planning and succession advice
  • When you are considering signing a Binding Death Benefit Nomination form
  • If there is a need to appeal a decision of the ATO, and when appearing in the Administrative Appeals Tribunal, Small Taxation Claims Tribunal, or the Federal Court
  • In the case of the following disputes:
    • Family law property disputes;
    • When renegotiating or resolving disputes with:
      • your employer
      • your co directors
      • your partners

Making a Superannuation Claim… If you are unhappy with the amount of the superannuation being offered to your superannuation fund contact us. Claims can be more complex if you are a member of more than one superannuation fund. We can assist you to:

  • Recover your Superannuation payment
  • Receive Death benefits
  • Receive Disability benefits
  • Gain early access to your superannuation

Estate Planning Sub Areas

Binding Death Benefit Nominations

Self Managed Superfunds

Superannuation

Trusts & Superannuation

SMSF Trust Deeds

Buying SMSF Property

Sell SMSF Property

Superannuation Disputes