Superannuation

Successor Fund Transfers

PFS has assisted trustees to select a fund partner when a successor fund transfer is planned. We have used our actuarial expertise to design the reserving strategies, ensuring equitable allocation of tax benefits, and reviewed the insurance arrangements of the merging funds. PFS understands and manages the detail of the many issues that arise in relation to benefit design.

Risk Management

PFS provides outsourced risk management services for small to medium sized funds which enables these funds to understand and manage their risks including compliance risks. We assisted with the implementation of risk systems to enhance internal reporting of risk activities. PFS is assisting Trustees to develop an Operational Risk Framework, required from July 2025.

Remediation of errors in superannuation

PFS has assisted with the remediation of member accounts where incorrect insurance premiums were charged and is currently assisting to identify cases where premiums have been incorrectly applied. We have also undertaken a rectification exercise involving contributions mis-allocated to accounts over a period of several years.

Independent Reviews

PFS have undertaken independent reviews for Trustees of public offer funds of their various frameworks. In particular, assessments of risk management (SPS/CPS 220), conflicts management (SPS 521), and insurance governance (SPS 250) frameworks provide Trustees with recommendations and opportunities for improvement.