Mr Costello had succeeded former chief justice of the High Court of Australia, Sir Anthony Mason, when he took on the role in August 2017.
SMSF Association chair Dr Deborah Ralston said the association is indebted to Mr Costello for the way he has diligently executed his duties as patron 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,” she said.
“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."
Dr Ralston says the association is seeking a new patron, and an announcement will be made when Mr Costello’s successor is appointed.
