What is a Member?

The members of an SMSF own the SMSF assets.  Only members of an SMSF can contribute to the SMSF. Members of an SMSF must also act as the Trustees for the SMSF, meaning that the members also control the SMSF.  In the case of a corporate trustee, all the SMSF members must be directors of the trustee company.  A member accumulates value over their lifetime and has an entitlement to these benefits once the member qualifies.  Trustees have the responsibility to make sure that the members entitlements are maximised and protected over the lifetime of the Superannuation fund.