Benchmarking default superannuation funds against current market offerings across fees, insurance, servicing, technology and ancillary services. KPMG can also assist in managing a full tender process tailored to a firm’s requirements to help identify a suitable default superannuation fund going forward. KPMG is skilled in providing a wide range of services including the provision of assistance from the selection process, through to transition management and post-implementation assessment.
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KPMG superannuation advisory services
We specialise in navigating the complex superannuation landscape for super funds, employers and a range of service providers. Some of our service offerings are featured below.
Reviewing employer Superannuation Guarantee (“SG”) obligations and calculating SG shortfalls where employers have not met their SG obligations. Assistance extends to guiding employers with the submission of shortfall amounts to the ATO and with employee communications. This may also include a review of what constitutes Ordinary Times Earnings vs. Salary and Wages for SG purposes and a review of employment contracts to determine SG obligations.
Reviewing employer payroll codes for SG purposes and pay slips against superannuation legislative requirements. This may be required following employer mergers / acquisitions, changes to payroll systems or to confirm whether the employer is meeting disclosure obligations.
Advice to employers with respect to Defined Benefit (“DB”) funding (contribution strategies, asset matching liabilities, investment strategies, vested benefits index). Advice can also be provided in relation to alternatives for DB arrangements, including wind ups, successor fund transfers, conversion of benefits and tax implications.
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