SMSF refers to Self-Managed Super Funds. The name sounds daunting, but the mechanics of super funds are fairly simple. SMSFs are superannuation funds that you can manage yourself as a registered trustee that will allow for financial benefits after retirement. The beneficiaries of these funds can be the investors themselves or whoever they name as beneficiaries in the event of their death. Whoever invests in an SMSF must sign a trustee declaration and possess a tax number, bank account and business number independently for the fund.