The government should not dismiss the use of early release of super to prevent personal economic hardship for Australians in the future, according to a Liberal senator.

Retail and industry funds have not served members as well as they could have, unlike SMSFs, which had very few problems, a government senator has claimed.

SMSF advisers and members should consider certain tricky situations brought about by the new contribution rules that took effect from 1 July 2020.

SMSF members have continued to report high levels of satisfaction with their choice of superannuation fund, according to new data released by Roy Morgan.