As Australia’s retirement sector continues to grow and mature so too does the fiduciary responsibility of those entrusted to secure retirement funds for employees and members. With ongoing regulation and industry reform those operating in the retirement industry are now a critical component of the financial services industry. This is why Mercer’s clients are not just some of the largest superannuation providers but they are also diversified wealth managers, asset managers, insurance providers, and financial planning advisors. We have a diverse group of consultants with specialised skills in actuarial, governance, legal and investment skills that work across the industry supply chain.
Helping business and government understand liabilities and obligations; comply with statutory requirements; plan for the future. Mercer's actuarial expertise helps employers, trustees, businesses, financial institutions and governments to:
- Understand their liabilities and obligations
- Comply with statutory requirements
- Plan for the future
Actuarial consulting services include
- Valuations of:
- Defined benefit superannuation and pension plans (for funding, AASB119 and USGAAP purposes)
- Long service and annual leave obligations
- Executive option and share based payment grants
- Loyalty programs
- Total shareholder return calculations
- Workforce analytics
- Approved and appointed actuary services
- Actuarial certificates
Leave liability valuation services and liability projections
Mercer provides long service leave and annual leave valuation advice to more than 50 corporations and government departments in Australia.
We can work with you to determine the appropriate methodologies, assumptions and discounting that is most suitable to your organisation and therefore help improve your balance sheet.
We can assist you in:
- Analysing annual leave payment experience and setting appropriate assumptions to comply with the new standard.
- Providing commentary on your current long service leave valuation methodology relative to best practice.
- Establishing company specific demographic assumptions (using either a simplified or a detailed approach) to produce a more realistic valuation that actually reflects your organisation.
- Perform a formal valuation of the liability based on specifically tailored assumptions, including an associated report.
- Provide assistance so that you can calculate your own liability values in interim periods more efficiently either from the use of valuation factors or using a simplified spreadsheet provided following a formal valuation.
- Projection of leave liabilities and associated cash flow to assist in managing liabilities and setting leave policies.
Governance and Legal
In a constantly changing regulatory environment, we assist clients in the private, industry and public financial services sectors with practical advice and solutions to meet their legal and compliance obligations in a sound governance framework.
We advise superannuation fund trustees, employer sponsors and financial services product providers on all aspects of financial services law, fund governance, risk and compliance and other regulatory requirements.
Our legal and governance experts have a depth and variety of industry and regulator experience. This ensures we will offer practical and effective advice to any regulatory or governance issue you may face.
We provide and support the Mercer ExtraTextual eCompliance and risk management system and can provide resourcing of compliance and risk officer functions.
Financial Risk Management
Agility in the face of challenge and complexity. Mercer helps simplify things with creative solutions confrunting business issues like these:
Mercer can help find the right solution for you. Here are a few examples of services we've adopted to do just that:
- Asset liability modelling
- Unit price monitoring and analysis
- Financial risk analysis and risk management
- Capital reserving and prudential management
- Dynamic de-risking solutions
- Financial Condition Reports
- Scenario modelling and testing
- Integrated retirement financial modelling
- Valuation of defined benefit retirement plans
- Valuations of health, life and disability insurance plans
- Valuations for employee leave gratuities