Pay Super & smsf

Question

Hi there

I just set up Pay Super & have a query re smsf. The superannuation fund info shows this listed as Standard (APRA-regulated) but I can't change if to "self-Managed" with the drop down arrow.

Do I need to create a new one? Delete wrong one? If so, will the affect previous transactions/reports?

Thank you kindly

Sue

Doreen_P · Accepted Answer

Hey @CollTspt,

Looks like you’ve set it up as a standard APRA-regulated fund, and that’s why the dropdown won’t let you switch it to SMSF. You can’t edit the type once it’s created, so yes, you’d need to create a new fund and pick “Self-Managed” from the start. Don't worry, creating a new one won't mess with the past transactions or reports. Make sure to also update your employee records so contributions go to the right place. You can also check this link for more info.

Cheers,

Doreen