A Rice Warner analysis of APRA and ATO statistics commissioned by NAB indicates that during the period from 2005 to 2012 SMSFs generated an average annual return of 7.7 per cent compared to the average 4.9 per cent return produced by the rest of the superannuation industry.
Taking fees into account SMSFs produced a return of 6.8 per cent over the eight years compared to 4.1 per cent for the rest of the superannuation industry.
NAB's executive general manager banking and wealth solutions David Gell said the analysis shows that not only have a million Australians chosen to manage their own retirement savings, “they’re actually doing a particularly good job of it”.
“It is clear that SMSFs do rate very well in terms of performance against the other funds, contrary to some perceptions out there,” said Mr Gell.
He said while SMSF trustees are taking responsibility for their own retirement, they are also seeking out and paying for good advice.
“It’s clear that many members and trustees are fully prepared to pay for advice if they believe it’s worth doing so,” he said.