Have you reviewed your super arrangements?

Have you reviewed your super arrangements?

It has been 3 years since the introduction of MySuper and the requirement for employers to contribute to a MySuper product for employees who do not make an active investment choice.

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There are currently over one hundred MySuper products and it can be very difficult to understand the different product designs, including the wide variation of investment performance (net of fees and taxes) and levels of insurance cover. Your employees deserve market-leading benefits, rather than a default MySuper fund with high fees and low investment returns.

For your consideration

When looking at your superannuation fund arrangements, have you considered:

  • the competitiveness of your fund’s super benefits and if they are appropriate for your employees?
  • if your fund’s member engagement model is suitable and flexible for your employees, allowing them to be easily engaged through the use of interactive tools, education sessions and financial planning?
  • your fund’s insurance categories and if their levels of cover are appropriate and cost effective for both blue and white collar employees?
  • the diversity of your fund’s investments and if they are able to provide an optimal solution and outcome?
  • if your fund’s fees are comparably higher than other superannuation funds and why this might be the case?

KPMG’s experienced superannuation specialists provide strategic reviews of superannuation funds and are well positioned to help you select a MySuper product offering with market-leading benefits that is right for your employees.

Actuarial, Insurance & Superannuation

Actuarial, Insurance & Superannuation

Actuarial Advisory Services typically assists clients with general insurance, life insurance and wealth insurance, and health financing.

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