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Home / SMSFs / SMSF administration

SMSFs: What is an actuarial certificate, and how much do they cost?

December 2, 2020 by SuperGuide Leave a Comment

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On this page

  • When is an actuarial certificate required?
  • Where can I get an actuarial certificate?
  • How much do actuarial certificates cost?

An actuarial certificate is a document prepared by an actuary that certifies how much of a self-managed super fund’s earnings are derived from its members’ accumulation phases and how much from retirement phases. This information has tax implications. It is used to claim exempt current pension income (i.e. tax-exempt earnings) in the fund’s annual tax return.

When is an actuarial certificate required?

An actual certificate is required whenever an SMSF member moves into the retirement phase and there are one or more other members of the fund that remain in the accumulation phase.

In addition, an actual certificate will be required each year that there is at least one member in each phase if the actuary is using the proportionate method to calculate the fund’s exempt current pension income. The proportionate method is based on the total value of the fund’s assets each year.

However, if the segregated method is used by an actuary to calculate a fund’s exempt current pension income, no actuarial certificate is required, provided that the retirement phase income streams being paid by the fund are one or more of the following types:

  • an allocated pension,
  • a market-linked pension,
  • an account-based pension.

The segregated method separates assets between the accumulation and retirement phases.

Where can I get an actuarial certificate?

An actuarial certificate must be prepared by a qualified actuary. An actuary is a person who specialises in financial mathematics and analysis.


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How much do actuarial certificates cost?

In 2020 Rice Warner analysed actuarial fees across low cost, mid cost and higher cost SMSFs, which are listed below.

  • Low cost: $110
  • Mid cost: $176
  • High cost: $285

Learn more about SMSF pensions in the following SuperGuide articles:

Commuting an SMSF allocated pension

April 1, 2020

SMSFs: How to start a pension

March 23, 2020

What SMSF trustees need to know about ECPI

March 1, 2020

Definitive guide to the $1.6 million transfer balance cap

January 30, 2020

Proportioning rule and super tax: What it is and why it matters

July 12, 2019

Starting a pension from your super

July 1, 2019

Total Superannuation Balance: When it applies and what is included

May 7, 2019

SMSFs: What are the lump sum withdrawal rules?

March 11, 2019

Related topics

SMSF administration SMSFs

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All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs.

You should consider whether any information on SuperGuide is appropriate to you before acting on it.

If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

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