The Superannuation Industry Advisory Group (SIAG) will meet for the first time today in Sydney to discuss strategic issues affecting self-managed superannuation funds (SMSF).

Many SMSFs and advisers to the sector are ill-prepared for Stronger Super changes that will affect them, according to lawyer Philip Broderick.

Clients could be missing out on significant tax savings because many advisers do not understand the way minimum pension payments can be made.

Financial planners need to reassess the way they manage retirement incomes as restrictive, product-focused thinking is creating risks for clients.

The Australian Taxation Office (ATO) will crack down on SMSFs that fail to lodge annual returns in a timely manner by preventing them from receiving employer contributions and rollover benefits from large superannuation funds.