WangJangLang, your question about why not put it in a bank...

WangJangLang, your question about why not put it in a bank account... in Australia, I'm not sure it's that straightforward.

There are a whole raft of laws about "Self Managed Superannuation Funds". The costs of implementing one are material. And the ongoing costs not negligible (for example, mandatory annual statements by independent auditors).

There's a whole industry snaffling SMSF dollars. Even with the recent changes ushered in by the current Government.

Remember superannuation is mostly a tax treatment issue.

Unless people deal with 7 digits of cash, they may be better off with one of the 'capital stable/guaranteed' retail offerings.

If the current Government were truly interested in people getting the best from their superannuation-taxable holdings, they would REDUCE red tape on SMSFs.