The latest analysis of the superannuation industry has shown generation Y having a very healthy attitude toward retirement saving, reinforcing recent demographic shifts in the SMSF sector, an industry technical expert has said.

A specialist superannuation lawyer has suggested advisers apply a rule of thumb to determine the correct pension to commute in cases where a client’s transfer balance cap is greater than $1.6 million and they have an income stream that consists entirely of a tax-free component and another comprised entirely of a taxable component.

The number of SMSFs in Australia could increase as a result of the housing downsizing measure contained in this year’s federal budget, a chartered accounting firm has said.