Welcome to the Super Money Eligible Rollover Fund (ABN: 94 334 023 289)
The Super Money Eligible Rollover Fund (SMERF) was established as an Eligible Rollover Fund (ERF) under a trust deed, dated 1 July 2005, as amended from time to time. An ERF is a special type of Superannuation Fund designated by the Australian Prudential Regulation Authority to receive and invest the entitlements of superannuation members in certain circumstances.
Who manages the Fund?
The Fund’s Trustee is Diversa Trustees Limited (ABN 49 006 421 638, AFSL No. 235153). The Trustee is responsible for the operation of the Fund and is legally obliged to operate the Fund in accordance with the Trust Deed and relevant law. As required, the Trustee is authorised by the Australian Prudential Regulation Authority (APRA) to operate an ERF.
Primary purpose of an ERF?
The primary purpose of an ERF is to be a temporary repository for amounts transferred to it from regulated superannuation funds, as original or secondary rollovers. SMERF aims to reunite members with their lost super and encourages them to consolidate their super benefits into their nominated ‘active’ super account. As an ERF, SMERF cannot accept any form of contributions from members or spouses.
How do you become a Member of the Fund?
You will have become a Member of the Fund as a result of your superannuation benefits being automatically transferred to the Fund from another superannuation entity. Your benefit may have come from your previous employer’s superannuation fund, a superannuation fund selected by you or a Retirement Savings Account (“RSA”). Your benefit will generally have been automatically transferred to the Fund, due to the fact that your account balance in your previous fund was low, you or your employer had not made a contribution to the fund for some time, or the fund lost contact with you.
Who is involved with the management of SMERF?
Diversa Trustees Limited
ABN 49 006 421 638 AFSL 235153
The Trustee has appointed a number of expert service providers:
Diversa Superannuation Services Limited (DSS)
ABN 77 107 165 962 AFSL 273321
RBC Investor Services Australia Nominees Pty Limited
ABN 58 097 703 047
ABN 52 780 433 757
Please click here for the disclosure documents of the Fund’s Trustee
Frequently asked questions
Ever wondered how you became a member of the Super Money Eligible Rollover Fund (SMERF) or if insurance is included in the superannuation fund? To answer these and other frequently asked questions by SMERF members, our Member Services team has compiled a few of the most commonly asked questions.
Why do I have a SMERF superannuation account if I didn’t open it?
Being a registered Eligible Rollover Fund (ERF), SMERF receives lost superannuation accounts of thousands of Australians.
You became a member of SMERF as a result of your superannuation benefits being automatically transferred to SMERF from another superannuation fund when they were:
- unable to locate you, generally due to an address change
- you had a low account balance or
- you or your employer had not made a contribution to the Fund for some years
What is the purpose of SMERF?
To hold lost superannuation and maintain the balance to enable the member to find your account, claim it or transfer the balance to your preferred superannuation account. SMERF accounts are listed in the Australian Taxation Office’s tax file number lost super search database. The ATO maintains a register of reported lost members and the superannuation fund holds your super monies.
Why did you send me this letter and how did you get my address?
Annual statements for superannuation funds are sent to all members. As a member of SMERF, you have received this letter and annual statement.
We updated your address using the Australian Taxation Office’s tax file number records. Annual statements are sent to the last known address.
Australia Post redirections are also used to find and send a reconnection letter to members asking for them to update their details.
What can I do with my SMERF account?
You can transfer or ‘rollover’ the money in your SMERF account to any Australian superannuation fund or complying KiwiSaver fund.
You can also withdraw your money if you meet one of the following conditions of release:
- the balance is less than $200
- temporary residents departing Australia
- financial hardship
- permanent incapacity, terminal illness or compassionate grounds.
Is insurance included?
No, there is no insurance cover attached to SMERF superannuation accounts. These are deposit accounts only.
Can I use this fund for employer or personal contributions?
No, Members or employers cannot contribute to SMERF. This is an eligible rollover fund; it is not a superannuation account for contributions or pensions.
What are the fees?
- Administration is 1.00% (direct per annum) capped at $8; and the
- Investment fee is Nil% (indirect per annum).
- Indirect cost ratio is 1.56% (factored into the calculation of the crediting rate at 30 June each year). There are no other account fees, withdrawal fees or buy/sell spread fees.
Fee example on $10,000
$ 8 Administration fee
$156 Indirect Cost Ratio
$164 Total fees in the financial year
How do I withdraw my money?
- Contact your preferred superannuation fund, and ask them to arrange to ‘roll-in’ your super.
- Fill in a benefit payment request form, which you can find by visiting www.smerf.com.au.
- Verify you have a SMERF account by using the Australian Taxation Office’s tax file number lost super search facility. Use the ATO MyGov account to initiate the transfer of your balance to your preferred superannuation fund or through your superannuation fund.
- If you are withdrawing your balance on compassionate grounds, you need to apply directly to the Department of Human Services.
Can I close my account without giving you any details or identification?
No, as a minimum, the Member’s name and date of birth need to match the SMERF account details, certified identification is required, and a condition of release must be met before funds can be released.
The information in this document has been prepared by Diversa Superannuation Services Limited ABN 77 107 165 962, AFSL 273321 as the Fund Administrator. It is intended to provide you with general information only and does not take into account your personal objectives, financial situation or needs. Before making any financial decisions it is important that you consider the current product disclosure statement (PDS) relevant to your membership, your particular circumstances and whether the particular financial product is right for you. The PDS is available on www.smerf.com.au. You should consult a financial adviser if you require personal advice.