Superannuation advocates have urged the federal government not to rush any changes to the age at which people can access their retirement savings.
Treasurer Joe Hockey has hinted the government could change the age at which people could access their super, but Prime Minister Tony Abbott quickly moved to rule out making changes any time soon.
The Association of Superannuation Funds of Australia (ASFA) believes the superannuation preservation age should be set at least five years lower than the Age Pension eligibility age.
"We would encourage the government to consider policies that encourage people to take up income stream products in retirement, to help people manage their superannuation savings across their retirement years," ASFA chief executive Pauline Vamos said.
The age at which people can access their nest eggs - known as the preservation age - depends on their date of birth.
For those born after June 30 1964, it's 60.
The government announced in last week's federal budget that eligibility for the age pension will be increased to 70 years by July 2035.
Amelia Christie manager of research and advocacy at the Combined Pensioners and Superannuants Association said at the moment super tax concessions disproportionately benefit people on high incomes.
"We couldn't support any move to change the preservation age until those inequities are addressed," Ms Christie told Fairfax Radio.
Changes to the preservation age could mean people who were unable to work until 70 years of age would be forced on to the Newstart allowance while waiting to access their super.
Around 25 per cent of the tax concessions went to the top five per cent of income earners while the bottom 50 per cent had only 20 per cent of the tax concessions, she said.
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