Due to the complexity of SMSF modelling, you may need to wait longer for the results to be ready.

• When you add a new SMSF, you can choose the year to start the SMSF, and also enter the Establishment fee.
• If there are existing super funds that you want to rollover into the SMSF, then:
  • Go to the Review super funds sub-step (under the Cash flows & Goals step on the top menu)
  • Find the super fund you want to roll funds out of
  • With the Super options field, choose an option to either close the fund or choose a minimum balance.  When funds are rolled out, it will roll funds into the SMSF, provided it is open in that year.

You can set a year to close the SMSF if that is part of the strategy you want to model or if the SMSF balance is too low. In particular, if you check your results and see that the SMSF's balance is very low and only being kept open to pay fees and expenses within the SMSF, then it is best to set a specific close date for the SMSF to stop these fees being paid.

To close the SMSF:

• Go to to the Review super funds sub-step (under the Cash flows & Goals step on the top menu), and then find the SMSF.
• On the SMSF options field, choose the 'Close SMSF' option
• Then, set a year in the 'Close SMSF in year' field
• When you close the SMSF also keep in mind:
  • You still need to set instructions for the assets in the SMSF prior to the SMSF being closed at the Review super funds sub-step (under the Cash flows & Goals step on the top menu)
  • Any instructions for assets in the SMSF that were set to be applied after the closure of the SMSF will be ignored
  • Any expense paid from the SMSF (e.g. insurance, planning fees), will no longer be paid once the SMSF is closed

The following fees can be entered on the main SMSF form:

• Establishment fee (for new SMSFs only)
• Annual administration fee
• Annual audit fee

If any other fees are being paid from the SMSF (e.g. financial adviser fees):

1. Go to the Cash flows & Goals step, then the Cash flows sub-step
2. Find the Expense section
3. Add the expense:
   1. In the Ownership field, make sure you put the SMSF

For more information, see the Expense in the help documentation.

Please note that if you enter expenses as cash flows, then you should keep an eye on whether the SMSF balance is low or goes to zero in your results.  If this happens, then you should set an exact year to close the SMSF (at the Review super funds sub-step (under the Cash flows & Goals step on the top menu)) and re-solve the case.  Otherwise, Pathfinder will continue to deposit funds into the SMSF just to meet the expense.

• The modelling assumes that assets are not segregated i.e. the proportional method is used for allocating assets
• If you only have one investment in the SMSF (e.g. a managed fund), then just choose the  option.
• If you want to start a pension or make other withdrawals from the SMSF, make sure that you don't choose options for the assets that prevent withdrawals (unless the income from the assets will cover their income requirements). For example, if you choose 'Leave alone' or setting a minimum balance, this will prevent Pathfinder from accessing these funds for withdrawals/pensions from the SMSF (i.e. TRIS, account-based pension or lump sum withdrawal). If you don't want this, you can either change to a more flexible option (e.g. , Control by %) or change the option to a minimum balance, and then reduce the minimum balance in the year you would like to allow withdrawals (for more see How to increase or decrease a value in the series builder).

If you would like to set up an SMSF once a minimum super balance has been reached:

1. Run the scenario with their existing retail/industry super funds (and no SMSF)
2. In the results, check their total super balances
   1. Go to the Detailed reports step
   2. On the left menu, choose Consolidated
   3. In this report, there will be a line called Superannuation (this will show the total super balances, if the case has a couple)
   4. Make a note of the year their Superannuation reaches your desired balance
3. Copy the scenario (for more see How to make another scenario for comparison)
4. In the copy of the scenario, at the Review super funds sub-step (under the Cash flows & Goals step on the top menu), choose what to do with the existing super super funds, such as:
   1. Close their existing super funds in the year you want to start the SMSF; or
   2. Choose 'Keep a minimum balance' if the funds need to be kept open (e.g. to pay insurances or to receive their super guarantee)
5. Still at the Review super funds, add the SMSF, and choose to start it in the appropriate year and then add the proposed SMSF assets
6. Once you solve the second scenario, you can go to the Compare step, and compare the projected outcomes of starting the SMSF versus keeping their existing super funds.

• Page:
  How to include an account-based pension (ABP)
• Page:
  Understanding why funds are kept in in the accumulation phase of super instead of the pension phase
• Page:
  How to include or exclude a Transition to retirement income stream (TRIS, formerly known as TTR)
• Page:
  How to include the super guarantee
• Page:
  How to model downsizing contributions to superannuation (a workaround)