Forty-seven per cent of all SMSF members are women.

In line with broader industry thinking, the SMSFA said there are still structural impediments that need to be removed if women are to improve their superannuation balances before and after retirement. The association urged the government to “take advantage” of the growing interest from women.

SMSFA chief executive Andrea Slattery said the organisation’s reform suggestions “will give women greater control over their superannuation”.

These suggestions include “extending the benefits of the low-income tax offset, the ability to carry forward unused concessional contribution caps, removing the ‘work test’ for people aged 65 to 74, and abolishing the ‘10 per cent rule’ for personal deductible superannuation contributions”.