Find out about the IFS Trusted Advice Model
Our team of unpaid super experts are here to assist insolvency practitioners in identifying the superannuation debt of a business.
What we do?
Our clients are deeply committed to ensuring that their members receive all of their employment entitlements, especially any unpaid superannuation. It is part of their obligation as trustees, to act in their members best interests and help them enjoy the fulfilling retirement they deserve.
Part of this commitment is the assistance we provide insolvency practitioners in relation to all aspects of outstanding superannuation.
Assisting You
By assisting you with information in relation to
- periods of unpaid super
- details of contributions received
- limited employee information
Super Guarantee Charge Statements
Before lodging, contact us to assist with:
- checking that all periods with a possible Super Guarantee Charge (SGC) liability have been identified
- checking that all employees owed super have been identified;
- or, if you require, any other information to help you complete the SGC Statements.
External Administration
- If a company is trading under external administration, we will be monitoring the company’s compliance with super guarantee (SG) obligations.
- During the Voluntary Administration period, and if trading under a Deed of Company Arrangement, SG contributions should be paid by the appropriate deadlines.
What we ask for?
We are mindful of the challenges that practitioners face when dealing with insolvencies and will try to minimise what we ask of you. In the initial stages of an appointment, we ask that you:
- confirm when the company ceased trading or, if the company is still trading, provide the current status (e.g., business as usual or continuing to trade until shut down);
- whether the company’s books and records show outstanding superannuation obligations (if none are available or records are limited, we can provide you with an estimated debt upon request); and
- to be added to the mailing list to receive the 2nd Creditors Report/ Statutory Report or, if these documents have already been issued, to be provided with copies of these reports.
Before a dividend is declared, we ask that you let us know, based on the records available to you, the periods of outstanding superannuation. This allows us to check our client’s records and identify any additional periods which may be outstanding.
Other Contribution Types
Salary-Sacrifice Contributions
Form part of an employee’s wages, and are claimable by the employee, or on the employee’s behalf.
Member Voluntary Contributions
Form part of an employee’s wages, and are claimable by the employee, or on the employee’s behalf.
Additional Employer Contributions
Our clients may be creditors, depending on the award or employment agreement the employer was subject to.
IFS has well-considered and applied risk and compliance competencies, and its shared vision and support for many of our key strategic advice objectives will assist in delivering on our’ future state requirements.
Industry super fund client
Give your fund leaders and advisers access to comprehensive expertise and support. We’ll give your team the confidence to deliver high quality, compliant advice and education that always puts your members’ interests first.
Learn More >You may have in-house advice capability and prefer to self-licence. But you can still reduce cost or complexity by outsourcing specific functions – such as advice software, compliance, professional development or paraplanning.
Learn More >Learn more about how we can help Insolvency Practitioners, get in touch with the IFS Insolvency Team.
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