SMSF service provider trustdeed.com.au has launched an affordable SMSF trust deed and has slammed claims that cheaper products expose advisers to additional business risks.

The latest Association of Superannuation Funds of Australia (ASFA) data on superannuation adequacy has shown the level of savings that will allow people to lead a ‘comfortable’ lifestyle in retirement has risen.

The anticipation of upcoming superannuation legislation meant advisers must ensure trustees were informed of any changes that affected SMSFs and their responsibilities, according to AMP SMSF head of policy and technical Peter Burgess.

The belief SMSF trustees were using their super savings irresponsibly in retirement and withdrawing their superannuation as a lump sum as soon as they could is unsubstantiated, says the sector’s peak professional body.

The SMSF Professionals’ Association of Australia (SPAA) has launched an online networking facility for delegates at its upcoming national conference in Brisbane next month.

New products and services being developed and offered by industry and retail funds will not slow the popularity or growth of the SMSF sector in the coming years, particularly among retirees, according to a retirement savings expert.

SMSF trust deeds selected purely on a cost basis are increasing the level of risk an adviser takes on due to their lack of detail and sophistication in covering certain critical areas, such as estate planning, according to a specialist sector lawyer.

A recent Victorian Supreme Court ruling has highlighted the need for SMSF trustees to exercise caution when deciding on action around binding death benefit nominations (BDBN).

Tax legislation passed in 2012 ending the classification of superannuation assets as trading stock and in effect treating them as capital items can be advantageous for some SMSF portfolios, according to an SMSF specialist lawyer.