For those wanting to step up their involvement in their superannuation, there is the option to move to a self-managed structure, with up to four members involved. Essentially, a self-managed super fund (SMSF) is a private fund managed by an individual, or an AFSL accredited adviser, and regulated by the Australian Taxation Office (ATO). With this greater involvement also comes the greater responsibility to manage your fund to comply with laws and regulations and often is more suited to those with financial services skills.