SMSFs should still be required to obtain actuarial certificates: Actuaries Institute

The Actuaries Institute has argued against regulations which would remove the requirement for many SMSFs to obtain actuarial certificates.

The changes to superannuation legislated late in 2016 included a prohibition on SMSFs using the segregated method to calculate ECPI where at least one member of the fund had a total superannuation balance over $1.6 million and was receiving a pension from the fund. This change was a so-called integrity measure aimed at preventing circumvention of the Transfer Balance Cap. Funds still have the option of using the unsegregated – proportionate – method. Read more...