Australian Legislative changes have enabled superannuation assets to grow faster than those of any other OECD country; with Funds under management having passed $1.3 trillion.
Despite this growth, the number of Superannuation providers is declining due to increased competition brought about by:
- Choice of Fund legislation
- Increased costs of compliance, and
- Additional pressure brought about by the recommendations of the Cooper review which envisages only several mega-funds in the future and is driving the sector to further reduce costs through scale.
In this environment, companies need to offer more attractive products and streamlined services to engage and retain membership. For major financial institutions, superannuation funds and third party administrators, having IQ Group as a business solution partner drives operational and technological efficiencies through the delivery of:
- Experienced professionals
- Proven processes and
- Innovative tools.
In Australia, IQ Group is the largest dedicated team of superannuation business and IT consultants which means you benefit from practically from our applied industry knowledge. Our people at IQ Group bring more than 700 years’ combined experience in superannuation administration and related fields across accumulation and complex defined benefit funds in both government and private sectors.
Our track record and capability is founded on our operations and operational risk expertise, particularly the management of data and technology, and the convergence of people, processes and technologies, to meet operational needs:
- Operational platform models for superannuation administrators
- Benchmarking against common industry practice
- Unparalleled expertise, speed and accuracy in fund migration and data remediation
- Extensive experience with superannuation administration systems
- Implementing and testing
- System selection
- Application support across the all platforms being used in the industry.