Superannuation and related insurance benefits form a central part of any employment offer, and these programs achieve maximum effectiveness when properly designed, managed and integrated into an overall remuneration structure.

Hewitt's expertise, tools, and technology provides you with the power to control your local superannuation and global retirement programs. We combine the skills of our actuaries with our human resource specialists to develop superannuation and insurance arrangements that are sustainable, competitive, and integrate seamlessly into your overall remuneration structure.

How is this control possible in an environment with changing workforce characteristics, choice of fund, other complex regulations, and outsourcing? Our consultants pioneer innovative solutions that help you better understand your retirement programs and provide you with greater control.

Expertise That Spans The Globe

With 2,000 associates working worldwide in the Retirement and Financial Management practice, Hewitt offers an extensive team of consultants ready to meet your needs.

Depth & Breadth Of Talent

Within our Australian team we have senior actuaries with extensive superannuation and financial services experience. We have worked with a wide range of organisations and the trustees of their often complex superannuation plans.

Maximise Your ROI
While you may already have solid superannuation arrangements in place, you might not be maximising the return on your significant investment in superannuation benefits or truly understanding and managing your risk exposure.

We work with you to ensure that your superannuation arrangements fit with your overall people strategies and help you to optimise the link between your superannuation program and your company's business objectives.

How much of the superannuation management challenge are you ready to address? Do you need to review one specific area? Or is your vision to get to a total retirement solution, working with us across the board—from overall strategy, benefit levels and design, insurance, and financial management to delivery and employee communication. Our associates pinpoint your opportunities for improvement, and successfully implement solutions.

Our expertise spans:

• Overall superannuation strategy
• Benefit levels and design
• Investment consulting
• Review of insured benefit arrangements
• Advice to Policy Committees
• Actuarial advice
• Workforce Planning

Overall Superannuation Strategy

Taking control of your superannuation arrangements begins with sound strategy.

Are your superannuation arrangements achieving what they are meant to? Do you know what you want to achieve? Are they competitive? Do they reflect the needs of your employees? Do they properly cater for expected future changes in the workforce and business environment? Can your programs be sustained by the organisation? These are just some of the questions you should be asking in your overall superannuation strategy review.

Whether you're redesigning an existing plan or outsourcing to a master trust/industry fund, we ensure you're positioned to manage cost volatility and risk, improve efficiency, and boost both participation and appreciation.

Hewitt is well placed to undertake such a strategy review. We are independent. We have no superannuation or investment product of our own. And we do not accept commission from any provider (or, where unavoidable, we declare it and refund it to the client). Our only source of remuneration is directly from clients.

We apply a disciplined, six-step approach to superannuation strategy. First, we help you:

• Gather information
• Set objectives
• Analyse your options, including a review of alternative master trusts/industry funds if applicable

Then we work with you to:

• Create a business case for the given solution
• Develop a transition strategy
• Communicate and implement the new arrangements

The result: a retirement program that supports your business strategy, offers acceptable financial cost and risk, and provides the right mix of retirement plan choices for your specific workforce.

Benefit Levels and Design

An important part of any strategy review and a necessity according to the upcoming change in superannuation salary definition, we assess your current benefit levels and program design to ensure they meet your company's objectives.

We've also developed comprehensive, competitive information about thousands of benefit and retirement plans and introduced market-leading tools that allow you to benchmark your company's plans to those of other companies.

Our tools help you evaluate alternative benefit levels and designs:

• Penicillin compares different benefit structures including Defined Benefit, Targeted Defined Benefit and Accumulation-style benefits and also illustrates the impact of different financial and demographic assumptions. It reports on past service liabilities as well as future service costs, and shows sensitivity to items such as high inflation or low employee turnover
• Global Inquirer collects, analyses, and manages global benefit and compensation information for increased control over your global financial and compliance risks. It can be tailored to best suit your needs

Investment Consulting

Hewitt is one of the world's leading investment consulting firms. Using our global research, broad investment context, and world-leading investment modelling and monitoring techniques, we can:

• Design investment structures that minimise cost while meeting your goals and risk tolerance
• Develop investment manager mandates, select investment managers, evaluate their ongoing management with respect to those mandates, and suggest changes to both managers and mandates as needed
• Provide ongoing, proactive review of your strategic investment management approach

Review of Insured Benefit Arrangements

Do you understand your insurance arrangements? Is your insurance integrated into your overall remuneration structure? Are you making the most of global insurance pools? Have you sorted out those gaps that exist as a consequence of Choice of Fund? Do you have the most cost effective policy?

Hewitt will assist in reviewing your current insurance arrangements and ensure that you have the most efficient and appropriate arrangements for your workforce.

Advice to Policy Committees

Typically, the main source of information for a policy committee is the outsourced provider. In a complex area such as superannuation, it is difficult for members of policy committees to know whether they are receiving an unbiased and fair assessment of the issues and whether they are considering all the pertinent issues. It is important that the decisions being made are in the interests of the company and the employees, not of the provider.

We provide varying levels of advice to policy committees to ensure that they are fully aware of the issues at hand. We can also act as an employer-appointed representative on your policy committee to minimise the time you need to spend on the matter and add a layer of expertise.

Workforce Planning

Hewitt's expertise in modelling retirement plans combines with our experience in the wider field of HR to aid companies in aligning their workforce with the needs of their business.

Many companies have a strong understanding of where they want their business to be in five years time, but have not considered whether their workforce structure will align with their objectives, given their current recruitment and retention strategies and general HR policies. In addition, there are many changes occurring to the workforce as a whole that may impact your organisation's ability to recruit and retain employees, such as the ageing population issue, the war for talent, and the shift to a more knowledge-based economy.

Our Workforce Projection Model helps you:

• Project workforce structure over time on a range of scenarios
• Diagnose the issues that may arise from shifting populations
• Analyse the effect of proposed changes
• Measure the financial impact on business results and assist with developing a business case for making any necessary changes

Our partnerships with clients are based on shared visions and clear expectations, steered by the following guiding principles:

• Acknowledging your unique situation
• Sharing firm-wide knowledge
• Bringing together the right people for the job
• Keeping your people in mind
• Letting you define success

Whether you need to focus on specific areas or fully review your superannuation arrangements, Hewitt consultants provides the necessary skills and time-tested tools you need to work with you to make your programs succeed.

Please contact us to start your relationship with a leading actuarial consulting firm.

Nerida Seccombe
Level 30, 360 Collins Street
Melbourne VIC 3000
Phone: +61 (3) 9614 6100
Fax: +61 (3) 9614 6133
Email: nerida.seccombe@hewitt.com

Greg Smith
L6, 155 George Street
Sydney NSW 2000
Phone: +61 (3) 9247 8066
Fax: +61 (2) 9247 9252
Email: greg.smith@hewitt.com

Tools

Technological innovations are no accident at Hewitt. We continue to invest and develop tools to bring client solutions that are highly effective—today and tomorrow. Employer Tools that are used in the Retirement practice include:

• Tracker, Asset Liability Modeller
• Global Inquirer
• Penicillin
• Benefit Index®