The Productivity Commission’s draft recommendation for a “best-in-show” shortlist of super funds has been commended as a measure that should help improve the efficiency and performance of the superannuation system.

Few SMSF trustees are taking advantage of the ability to make personal deductible contributions to their super fund because they remain unaware of the change in legislation allowing them to do so.

The SMSF Association has said the Productivity Commission’s draft report into superannuation is a timely reminder to SMSF trustees to pay close attention to the fees and costs their funds incur to ensure retirement savings are being optimised.