The Super Money Eligible Rollover Fund (SMERF) was established as an Eligible Rollover Fund (ERF) under a trust deed, dated 1 July 2005, as amended from time to time (Trust Deed).
An ERF is a special type of Superannuation Fund designated by the Australian Prudential Regulation Authority (APRA) to receive and invest the entitlements of superannuation members in certain circumstances. There is no option for member’s to hold any insurance coverage within SMERF
Generally, people become members of an ERF because the trustee of a superannuation fund of which they were a member transferred their benefit to the ERF. A trustee of a superannuation fund may transfer members of a fund to an ERF without their permission in specific circumstances including:
- If the trustee believes the member to be lost or inactive;
- If you requested a benefit payment but did not provide instructions on how to pay the benefit that could be followed by the trustee; or
- If the trustee is required to pay your benefit to an ERF to comply with the law.
For details of fund related documents, including the latest Product Disclosure Statements, please click here for the fund website.