The SMSF Association has announced that its Patron, Reverend Tim Costello AO, is stepping down.
Costello took up the role in August 2017, succeeding former Chief Justice of the High Court of Australia Sir Anthony Mason. Costello is stepping down for personal reasons, the Association said.
Costello said being Patron of the SMSF Association had been a privilege and an honour.
“Seeing how the sector has grown and given confidence to people so that they can feel secure about their future has been a joy to watch.”
SMSF Association Chair Dr Deborah Ralston, on behalf of the Board, said: “The Association is indebted to Tim for the way he has diligently executed his duties as Patron of our organisation for the past two years.”
“What the Board and the members have greatly appreciated is how he has encouraged us to have a broader vision about superannuation, and especially how this relates to the SMSF sector.”
“While the ability to enjoy retirement is very much about having financial security, it’s also a time to be able to give back to the community in a way that is beneficial and gratifying to retirees and the broader society – and this is what he asked us to reflect on.”
Ralston said that Costello had done admirably in filling the “very big shoes” of Sir Anthony.
“I know members appreciated his contribution and that we greatly benefited from having someone of his integrity, values, and life experiences in this role.”
The Association is seeking a new Patron.