Australian Superannuation assets equated to $2.8 trillion at the end of the September 2018 quarter – a figure that continues to grow as more Australians co-contribute to their superannuation funds as well as portfolio growth.
In fact, Rice Warner estimated that there will be $4.79trn in funds under management in 2033.
The Hayne Royal Commission shone a spotlight on the superannuation industry – with consumers voting with their feet, and the Australian Prudential Regulation Authority (APRA) working on frameworks to better protect consumers and deliver member outcomes.
Drawing on our knowledge of the broader financial services industry, we provide audit, tax and advisory services to our superannuation clients, ensuring they are across industry updates and compliant with prudential policies.
With APRA’s finalised package of measures due to take effect on 1 January 2020 to address areas for improvement in the regulatory framework and improve member outcomes, we are working with Superannuation funds to ensure they meet the new requirements by this date.
In addition to working with Superannuation funds, we also provide advice to corporations on their employee superannuation contributions, and individuals to set themselves up for retirement.