The Reverend Tim Costello AO is stepping down as Patron of the SMSF Association.
Costello, who succeeded Sir Anthony Mason, a former Chief Justice of the High Court of Australia, in the role in August 2017, is resigning for personal reasons.
Speaking on behalf of the Board, Association Chair Dr Deborah Ralston says: “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 says that in succeeding Sir Anthony he was filling “very big shoes”, and he did it admirably. “I know members appreciated his contribution and that we greatly benefited from having someone of his integrity, values, and life experiences in this role.”
Costello says it’s been a privilege and honour to be Patron of the Association. “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.”
Ralston says the Association is seeking a new Patron, and an announcement will be made when Costello’s successor is appointed.