“The importance of the superannuation and financial services sectors cannot be over-stated, and the Association is confident that Dr Chalmers will promote policies that will underpin their critical role in the economy,” the association said.

“We welcome his appointment and look forward to working closely with him as the peak association for the SMSF sector and encourage the Shadow Ministry to focus on policies that continue to support Australia as a world leader in retirement systems.”

Mr Chalmers has also been appointed as shadow minister for sport and productivity and shadow assistant minister for trade and investment.

The SMSF Association said Mr Chalmers only entered Parliament in 2013 as member for the Queensland seat of Rankin but he brings wide experience to his shadow role, both as an academic focusing on public policy as well as an adviser to Labor governments in Queensland and Canberra.

Previously he was an adviser with the former deputy prime minister and treasurer Wayne Swan and held positions that included shadow parliamentary secretary to the leader of the opposition, shadow parliamentary secretary for trade and investment, and deputy chair of the House of Representatives Standing Committee on Tax and Revenue.

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