“This is markedly different to the last five years when most conversations had been focussed on capital preservation,” Ms Salmon said.

“The last few years have been difficult for SMSF trustees, [who are] concentrating on rebuilding the capital base of their funds. This focus on re-accumulating funds lost during the GFC has led to many trustees not having the time to properly plan their portfolios for retirement,” she added

Crowe Horwath said trustees need to review their retirement plans on a regular basis.

“Trustees need to constantly review their retirement positions, no matter how young or old, to track against future goals, even after you have retired,” the company stated.