Superannuation Fund Trust Deed: Fill & Download for Free

You can obtain a nomination form from your Superannuation Fund. This is not necessarily binding as it must conform to the Fund trust Deed and the Superannuation Legislation. It should go to a Financial Dependent, usually a partner or child.They usually act on it, on this basis. If however, you had a spouse and child and you nominated a friend or sibling, it will not be honoured.

Here are the steps for transferring EPF to NPS(National Pension Scheme):• The subscriber should have an active NPS Tier-1 account.• Government/private section employees have to approach the recognised PF/Superannuation Trust Fund through their current employer and give request for transfer of funds to NPS account• The recognised PF/Superannuation trust will have to initiate transfer of the fund as per provision of the trust deed and the provision of the Income Tax Act.• In case of government employees the employee should request the PF/Superannuation fund to issue a letter to his present employer mentioning that the amount is being transferred from the fund to be credited to the NPS Tier-1 account of the employee.• The present employer or Point of presence (POP) ie the nodal office while uploading the fund has to mention the transfer from PF/superannuation fund in the remarks column while uploading. The upload has to be made as per request letter of the ex-employer.• In case of private sector employees, including subscribers covered under All Citizen’s Model NPS, the employees should request the recognised PF/superannuation fund to issue a letter to the present employer/PoP as the case may be mentioning that amount is being transferred from the PF/Superannuation fund to be credit in the NPS account of the employee/individual Tier-I account• The POP will get the amount collected and the same has to be uploaded in the NPS account of the subscriber.

Here us an excerpt from the Trustees Declaration required to be signed by all new SMSF trusteesTrustee duties I understand that by law I must at all times:-act honestly in all matters concerning the fund- exercise skill, care and diligence in managing the fund- act in the best interests of all the members of the fund- ensure that members only access their super benefits if they have met a legitimate condition of release- refrain from entering into transactions that circumvent restrictions on the payment of benefits- ensure that my money and other assets are kept separate from the money and other assets of the fund- take appropriate action to protect the fund’s assets (for example, have sufficient evidence of the ownership of fund assets) n refrain from entering into any contract or do anything that would prevent me from, or hinder me in, properly performing or-exercising my functions or powers as a trustee or director of the corporate trustee of the fund- allow all members of the fund to have access to information and documents as required, including details about– the financial situation of the fund– the investments of the fund– the members’ benefit entitlements.I also understand that by law I must prepare, implement and regularly review an investment strategy having regard to all the circumstances of the fund, which include, but are not limited to:- the risks associated with the fund’s investments- the likely return from investments, taking into account the fund’s objectives and expected cash flow requirementsinvestment diversity and the fund’s exposure to risk due to inadequate diversificationthe liquidity of the fund’s investments having regard to the fund’s expected cash flow requirements in discharging its existingand prospective liabilities (including benefit payments)whether the trustees of the fund should hold insurance cover for one or more members of the fund.Accepting contributions and paying benefitsI understand that I can only accept contributions and pay benefits (income streams or lump sums) to members or their beneficiaries when the conditions specified in the law and the fund trust deed have been met.Investment restrictionsI understand that, as a trustee or director of the corporate trustee of the fund, subject to certain limited exceptions specified in the law, I am prohibited from:- lending money of the fund to, or providing financial assistance to, a member of the fund or a member’s relative (financial assistance means any assistance that improves the financial position of a person directly or indirectly, including the provision of credit)acquiring assets (other than business real property, listed securities, certain in-house assets and acquisitions made under mergers allowed by special determinations or acquisitions as a result of a breakdown of a relationship) for the fund from members or other related parties of the fundborrowing money (or maintaining an existing borrowing) on behalf of the fund except in certain limited circumstances (while limited recourse borrowing arrangements are permitted, they can be complex and particular conditions must be met to ensure that legal requirements are not breached)having more than 5% of the market value of the fund’s total assets at the end of the income year as in-house assets (these are loans to, or investments in, related parties of the fund – including trusts – or assets subject to a lease or lease arrangement between the trustee and a member, relative or other related party)entering into investments that are not made or maintained on an arm’s length (commercial) basis (this ensures the purchase or sale price of the fund’s assets and any earnings from those assets reflects their market value).AdministrationI understand that the trustees of the fund must: n keep and retain for at least 10 years– minutes of all trustee meetings at which matters affecting the fund were considered (this includes investment decisions and decisions to appoint members and trustees)– records of all changes of trustees, including directors of the corporate trustee– each trustee’s consent to be appointed as a trustee of the fund or a director of the corporate trustee– all trustee declarations– copies of all reports given to membersensure that the following are prepared and retained for at least five years – an annual statement of the financial position of the fund– an annual operating statement– copies of all annual returns lodged– accounts and statements that accurately record and explain the transactions and financial position of the fundn appoint an approved SMSF auditor each year, no later than 45 days before the due date for lodgment of the fund’s annual return and provide documents to the auditor as requested- lodge the fund’s annual return, completed in its entirety, by the due date n notify the ATO within 28 days of any changes to the– membership of the fund, or trustees or directors of the corporate trustee– name of the fund– contact person and their contact details– postal address, registered address or address for service of notices for the fundnotify the ATO in writing within 28 days if the fund becomes an Australian Prudential Regulation Authority (APRA) regulated fund.To learn more visit Self-managed super funds and SMSF Association Trustee Knowledge Centre - SMSF AssociationAnd don’t forget to follow my blog for tips and strategies at The SMSF CoachLiam ShorteThe SMSF Coach