Superannuation

Australian Legislative changes have enabled superannuation assets to grow faster than those on any other OECD country. Funds under management have passed $1 trillion. At the same time the number of superannuation products providers in Australia is declining. The RSE licensing legislation has increased the cost of compliance and the Choice of Fund legislation has increased competition – both have led to consolidation of superannuation funds and this trend is expected to continue. Traditional superannuation funds are branching out into wider product offerings and are becoming financial institutions in themselves. The distinction between “Retail” and “Industry” is blurring and will disappear. Funds will need to offer broader and more complicated services and at the same time reduce their operational costs.

Set against this backdrop,  IQ has been a practical business solution partner to superannuation for the past 10 years. IQ brings experienced professionals, proven processes and innovative tools to maximise operational and technological efficiencies. In Australia, we are the largest team of superannuation business and IT consultants. Our clients include major financial institutions, superannuation funds and third party administrators.

The IQ Business Group actively participates in superannuation industry forums, debate and scenario planning.  Graham Sammells, CEO, chairs the ASFA E-Commerce sub-committee, while Elizabeth North, Principal Consultant, is an active member of the Fund Operations and Administration Education sub-committees.  IQ made substantial contributions to industry submissions to Government in relation to Clearing House, Rollover Hub and the Cooper Review.

IQ has Australia’s largest team of superannuation consultants, with over 700 years’ experience in superannuation administration and related fields.  Its track record and expertise is founded largely on its operational and operational risk expertise, particularly as it relates to management of data and technology to meet operational needs.

Experience with superannuation and complex defined benefit funds in both the government and private sector. IQ has a comprehensive understanding of the administrative operations of Third Party Administrators, including the technology platforms that underpin those operations.

IQ has developed operational and platform models for superannuation administration, which it uses to test an organisation’s status against common practice.  IQ’s expertise has been used in many fund migration and data remediation engagements over the past few years, including both for internal platform migrations and for a Fund changing its provider of administration services.

IQ has extensive experience with superannuation administration systems. IQ has experience in systems implementation and testing, system selection, reporting and application support across the following administration platforms:

  • aaspire (AAS)
  • Acurity (Financial Synergy)**
  • Calibre (Bravura)
  • Capital (Synchronised Software)**
  • CLASSIC (Hansen / Vision Super)
  • Composer (InfoComp / GBST)
  • GPEN (McMullan Bros)
  • OmniPlus (SunGuard)
  • Sonata (Bravura, under development)
  • Superb (Bravura)**
  • Supervisor II (SuperCorp)
  • Talisman (Bravura)
  • Wealth.Net (BlueDoor / DST)

** deployed widely across the superannuation industry

Why choose us

Our approach is characterised by:

  • Deep industry specialisation using industry-focused teams
  • Providing tailored solutions rather than mainstream software solutions
  • Turning your strategy into a reality
  • Creating committed and successful partnerships