Two SMSF associations have announced that they will merge.
The Self-managed Independent Superannuation Funds Association (SISFA) and SMSF Owners’ Alliance will merge, but retain the name SISFA.
The tagline of the merged association will be “Speaking up for the one million Australians with SMSFs”.
“Amalgamation into a single combined force and a single effective voice will protect and promote the interests of Australians who have taken responsibility for managing their own retirement savings and generating their own income in retirement without relying on the age pension,” said the statement announcing the merger.
“This amalgamation comes at a time of great change and challenge for self-managed funds and the combined energy and expertise of SISFA and SMSFOA will be enlisted to obtain the best possible policy outcomes for the beneficial owners of SMSFs.”
“During a long and complex debate regarding superannuation and the role of small and self-managed superannuation funds within the sector, our two organisations have realised our views are aligned on the ways to improve the fairness and efficiency of the superannuation system and the needs of members and trustees of self-managed funds. The skill sets of the two organisations are complementary.”
“So it has been a logical step to merge the two groups. In this way our resources are pooled and the strengthened organisation will be in a better position to continue to act as an advocate for small independent and self-managed super fund members.”
“Collectively we will represent over 10,000 trustees through our memberships” says SISFA Chairman Chris Balalovski.
“Trustee membership has always been a pillar of SISFA’s charter and we have continuously represented the interests of SMSF trustees to government and the regulator to increase the level of education and awareness.”
SMSF Owners’ Chairman Bruce Foy said: “We are sure there will be further challenges to self-managed funds in the future and we need a strong organisation to stand up for self-reliant Australians who are taking care of their own retirement savings efforts.”