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The Future of Superannuation in Australia

 

Superannuation is changing in Australia. Are you ready? 

On Thursday May 30th, 2013, a conference is being held in Sydney to discuss The Future of Superannuation in Australia. Featuring leading industry experts - including former Australian Treasurer Peter Costello - this event will discuss changes surrounding Super, with a particular view towards technology and innovation. 

In 2010, the Australian government set a plan in place to bring about change in the Superannuation industry. Called SuperStream, this is about improving quality of data using TFNs as primary account identifiers, encouraging the use of technology to improve process efficiency between funds and streamlining contributions. These changes mean there is a need for greater consumer governance, fluid communication with government bodies and increased reporting for regulatory control. 

In 2013, with some of the legislation already in place, the focus is on secure messaging as electronic transfer of this information opens up risk for funds. GLiNTECH have been successfully delivering secure messaging services for over 10 years and, as an award-winning IBM Software Premier Business Partner, they are recognised as IBM product and industry specialists within financial markets. 

“We’d like to highlight that the Superannuation industry is now set to align more closely with standards and regulations of Banking, therefore understanding that sector is crucial to ensuring true benchmarking occurs”, says GLiNTECH’s Managing Director, Dimitri Spyridopoulos. 

Having formed a strong relationship, GLiNTECH and IBM are bringing their industry expertise to this event as partners and lead sponsors. IBM have been working closely with the Australian Taxation Office (ATO) on the SuperStream messaging services standards which set out requirements for message packaging, transport security and receipting of messages. GLiNTECH’s close partnership with IBM means they have industry process related consultants on hand who understand the changes being introduced in Australia. 

Providing innovative demonstrations to the Superannuation industry is not new to GLiNTECH, having previously sponsored and showcased solutions at conferences such as Process Automation for Super Funds. Says Spyridopoulos, “since 2011 we’ve been showcasing demos for mapped industry-specific process flows and relevant data models for things such as fund switching, simple rollovers and various beneficiary payments.”

This week’s Future of Superannuation conference has been organised by FST Media and attendance is free, but registration is required and spaces are very limited. To view the full agenda and speakers, or to register, please visit the conference website. 

You can follow the event on Twitter with @GLiNTECH and @FSTMedia, or by using the #FSTSuper hashtag.