Australians in Retirement Warrnambool branch spokesman Rod Carter said many retirees and those nearing retirement were concerned with the regulations, which come into force on July 1.

“These retrospective changes, in particular the $500,000 cap on non-concessional contributions dating back to 2007, pose problems for those selling a business or a farm and who were intending to increase the balance held in their superannuation fund,” he said.

“The regulations have become quite complex and professional assistance may be needed in order to understand the ramifications.”

A superannuation expert from Coffey Hunt will speak at the group’s Friday meeting to talk through the changes.

Mr Carter said the speaker would also answer any questions on changes to pension regulations that came into force on January 1.

The meeting is open to the public at begins at 10am Friday, January 27 at the Uniting Church hall on Koroit Street.