Analysts say superannuation will not be a significant end of financial year tax planning strategy for some, after this week's Budget changes.

Research house Dexx&r has released an assessment comparing Pre and Post 2016 Budget changes to the Concessional Contribution Cap maximums.

They conclude that the changes mean “a significant reduction in the amount that members can contribute in addition to employer SG [superannuation guarantee] and stay within the maximum Concessional Contribution limit”.

The experts say that for the self-employed and small to medium-sized businesses, super will cease to be a significant end of financial year tax planning strategy

They also argue that people approaching retirement will now have restricted options to increase contributions to offset reduced account balances during future downturns in the investment cycle, such as the global financial crisis.

For planners, Dexx&r says there will need to be an increased focus on investment strategies outside super for high income clients.

With limited scope for a meaningful uplift in voluntary member contributions, it will become increasingly difficult to justify the current cost of full financial advice to super fund members.

This means that low cost financial advice solutions or ‘Robo Advice’ will play a larger role, potentially becoming the most cost effective advice delivery mechanism for middle and low income members.

For the broader financial service industry, the analysts say retail managers and industry funds with a strong presence in Employer Super are best insulated against any fall in voluntary salary sacrifice contributions.

Finally, personal super funds under management (FUM) growth will be impacted in the medium term by member’s reduced capacity to make additional concessional contributions, Dexx&r says.