Retirees should be given incentives to use their superannuation savings rather than planning to pass on their money as a bequest.

The SMSF Association has called on the government to use a sensible approach to the implementation of the proposed retirement income covenant.

The retirement income covenant will apply to all super funds, including SMSFs, and will carry similar obligations to those required for investment strategies.

The domination of SMSF establishments by younger individuals bodes well for the accelerated adoption of more frequent fund reporting.

The findings of the 2021 Intergenerational Report are very positive sign of the future for the SMSF sector for the coming decades.