SMSFs will not be bound by the proposed legislation requiring superannuation fund trustees to formulate a retirement income strategy for members.

ASFA statistics have revealed the increased cost of living in the past year has put greater pressure on retirees.

Price increases returning to normal after the easing of COVID-19 restrictions has resulted in a rise in the cost of living for retirees.

Self-funded retirees have been overlooked since the election, particularly in the low interest environment that has emerged in the past year.

The federal government has highlighted findings from the Retirement Income Review final report that the current model is adequate and functional.