When setting up a Self Managed Super Fund (SMSF) you will need to operate a cash account in your fund's name. This account will enable you to receive contributions or rollovers in addition to drawing funds to meet the costs of running the fund. An LLL At-call Savings Account can be used as a cash management account within your SMSF.
Features of SMSF Cash Accounts:
In addition, the online facility LLL@Home gives you functionality such as:
You can also nominate your LLL SMSF Cash Account as a Matching Deposit to directly support a particular Lutheran Church of Australia project. You can choose which project your savings will support - perhaps your local Lutheran school, your congregation or another worthwhile Lutheran project.
More information on how the LLL operates and manages funds can be found in the About Us section. Speak to your Financial Advisor to determine if an LLL SMSF Cash Account is right for you.