Consulting

The cash investments of superannuation funds have come under particular scrutiny in recent years and Rice Warner has been active in reviewing and improving these arrangements for superannuation trustees.  We do this by combining specific technical knowledge of the optimal cash management structures for superannuation funds and platform providers with our broad tender experience and robust tender and benchmarking processes.  Our experience includes benchmarking, no names RFIs and full market tenders, and has been applied to extract full value from both third party and related party cash providers

Rice Warner assists superannuation funds with the benchmarking and selection of outsourced administrators and related service providers.  Over the course of a wide range of tenders, we have developed a robust tender process and a broad database against which to assess tender responses or the performance of incumbent service providers.  We have also developed a strong understanding of common contract terms in these agreements and can provide independent commercial guidance on the negotiation of performance clauses and other contractual arrangements.

Member statement benefit projections are an effective way to engage members to think about their superannuation in practical terms and help to encourage members to take action to improve the projected retirement benefits.  Rice Warner prepares these projections for a range of funds, each calling upon our deep experience in the provision of financial tools, calculators and advice software, to provide funds with peace of mind that their benefit projections are accurate and compliant with regulatory requirements.  We also provide actuarial accreditation for a variety of funds who have performed these calculations in-house or have developed their own tools and processes to perform the projections.

Rice Warner can help funds with the implementation of member outcomes, reviews of their framework against better practice and in the provision of data, especially insurance benchmarking and member engagement or behaviours.

The superannuation market has been consolidating, and Rice Warner has been at the forefront with assisting superannuation funds identify suitable merger partners and achieving successful merger outcomes that are in members’ best interests.

We work closely with merger partners to help secure merger approvals implement the merger and monitor whether business outcomes are achieved.

Rice Warner’s heritage is as a firm of consulting actuaries. Our superannuation actuarial services cover financial modelling, benefit projections, independent insurance in superannuation pricing review and investment analytics as well as prescribed actuarial work for defined benefit superannuation funds.

As an independent consultancy, Rice Warner provides superannuation tender services free from conflict. We have run hundreds of superannuation tenders, whether for employer plans, custodians, administrators or asset consultants. Our superannuation fund database is invaluable for this work. We have a proven ability to help clients achieve their stated objectives, relying on an inclusive style that informs, educates and includes our client in the decision-making process.

Rice Warner helps our clients with all aspects of superannuation product management and development whether research, design, benchmarking or implementation. Our industry research sees us at the forefront of market trends and product innovation.

Rice Warner can also second analysts and consultants to work as part of superannuation product teams for those occasions where the team requires additional capability or capacity.

Rice Warner has built a reputation for providing fact-based guidance to superannuation industry participants backed by informed opinion and thought leadership. Our unique insights, supported by our rich databases and research, help clients develop effective commercial and operational strategies.

Rice Warner’s extensive superannuants database and related research enables us to help benchmark superannuation funds, whether products, fees, investments, insurance, service operations or costs and expenses.

Advice has been an integral part of superannuation offerings for many years. At Rice Warner, we help superannuation funds set and implement their advice models, providing not only consulting support but also access to calculators and advice related FinTech solutions.

With an aging population and the gradual retirement of the Baby Boomers, the superannuation industry is rapidly developing products and services to maintain members to and through retirement.

Rice Warner is at the forefront of helping superannuation funds develop a strategic retirement framework, and products aligned to this framework, to support members in retirement.

Rice Warner Actuaries have spent the last decade modelling the uncertain fluctuations of investment markets to develop a detailed understanding of potential future performance. Through these models Rice Warner assists product providers quantify investment performance using metrics that retail investors can understand.

Our Actuaries are experts in modelling the trends which drive outcomes in uncertain and ever changing markets. We assist clients  challenge and enhance the development of market-leading products through portfolio modelling, demonstrating the range of possible outcomes which may realise.

Leveraging our platforms and product benchmarking databases, Rice Warner assists superannuation funds and platform providers access whether their investment options are fit for purpose, both at the individual option level, and for the overall investment menu.

Investment managers and superannuation funds must, by law, report on their fees to ensure transparency for investors. Rice Warner has developed a rigorous process for assisting clients with the nuanced detail of these disclosures through annual reviews and topical research. This process, augmented with Rice Warner’s understanding of emerging trends and relationship with the regulator gives confidence of quality oversight now, and into the future.

Rice Warner Actuaries have spent the last decade modelling the uncertain fluctuations of investment markets to develop a detailed understanding of potential future performance. Our investment risk modelling includes Standard Risk Measures, customised risk measures and stress testing.

Having consulted to many superannuation funds on a wide range of investment matters and carried out previous IMF reviews, Rice Warner assists superannuation funds review all aspects of their Investment Management Framework (IMF).

Rice Warner is at the forefront of the constantly evolving life and superannuation insurance industries, such as the development of the Insurance in Super Voluntary Code of Practice. Our tailored advice draws from our deep industry knowledge and extensive range of tools and databases.  Our experience and resources enable us to provide a clear understanding for insurers, reinsurers and superannuation funds, of how regulatory change will impact insurance affordability, adequacy, and competitiveness.

Superannuation funds must regularly review insurance arrangements to ensure they are appropriate for the fund’s membership.

Rice Warner provides superannuation funds the confidence that the insurer’s pricing is reasonable and appropriate, taking the form of either:

• An independent review of the insurer’s pricing which involves us working closely with the insurer’s pricing actuary to understand and query the methodology and assumptions used, or
• A full independent pricing exercise.

Rice Warner’s independence combined with deep actuarial and insurance expertise, tools and research means we are uniquely placed to assist your superannuation fund in working through the pricing exercise.

Rice Warner works with superannuation funds to assist with benefit design reviews.

Rice Warner’s unique insights, tools and analysis enable us to help superannuation funds understand their membership, member insurance needs and product affordability. This insight equips superannuation funds to create insurance benefit designs that improve member outcomes.

Rice Warner regularly carries out benchmarking of insurance product features and pricing utilising Rice Warner’s Group and Retail insurance database containing over 200 products.  Our tailored reports and workshops allow unique insight to the insurer’s products’ market competitiveness.

Having consulted to many superannuation funds on a wide range of group insurance matters and carried out previous IMF reviews, Rice Warner assists superannuation funds review all aspects of their Insurance Management Framework (IMF).

Rice Warner also assists with the ongoing operation and monitoring of key elements of the IMF.

As an independent consultancy, Rice Warner has proven ability to help superannuation funds conduct insurance tenders and achieve their objectives, relying on an inclusive style that informs, educates and includes our client in the decision-making process.

We assist superannuation funds to select the most appropriate insurer with our service tailored to suit the superannuation fund’s needs and capabilities. We also assist with implementation of new insurance arrangements.

Rice Warner has built a reputation for providing fact-based guidance to superannuation industry participants backed by informed opinion and thought leadership. Our unique insights, supported by our rich databases and research, help clients develop effective commercial and operational strategies.