Superannuation – Navigating the Rising Cost of Living and Inflation

Superannuation is a vital aspect of financial planning in Australia, designed to provide retirement income for individuals. However, as the cost of living rises and inflation erodes the purchasing power of savings, Australians face challenges in securing their financial future.          Rising Cost of Living Over 2022-2023 financial year, many Australians have […]

Successes in 2023, looking to 2024

It was a big year at McGing in 2023. This year we helped our clients tackle a wide range of interesting projects; some highlights from the early months of the year included: Providing long-tail claims liability valuation and advice Providing IFRS17 / AASB17 implementation support for multiple insurers and friendly societies Providing a remediation methodology […]

What’s new at McGing?

New Office We are pleased to announce the opening of our new office at McGing, which reflects our expansion and improvement. Our new site, conveniently situated near our existing one, ensures easy access for our clients and partners. We look forward to welcoming you to our new office for discussions and collaboration. New Website We are excited to announce […]

We’re moving to 167 Queen St!

We have some exciting news to share with you! McGing is on the move! We are relocating to a new office space that marks the beginning of a new chapter in our journey. This decision comes as part of our commitment to growth, collaboration, and the development of our company culture and staff. We couldn’t […]

Anisha: A trailblazing actuary with a keen eye for innovation

Introduction I am  thrilled to announce the newest addition to our team at McGing – Anisha Jain, a highly skilled Actuarial Analyst with a background in the life insurance sector. With her strong analytical aptitude and understanding of risk assessment and financial projections, Anisha brings valuable expertise to the table. Anisha’s background and qualifications Anisha’s […]

Implementing AASB 17

Tackling AASB 17 in Life Insurers In recent years we have helped a number of life companies with projects providing guidance, resources and implementation support. The most urgent challenge for life companies, including a number of friendly societies, has been to implement AASB / IFRS 17, the new global accounting standard for insurance contracts.  Where […]

Unit pricing – experience from the coalface

Recently we have worked with superannuation clients to help them make improvements to their unit pricing and investment-related processes. During that project, we ran into and addressed a number of the ‘usual suspects’ when it comes to unit pricing-related issues. With the expectation of both regulators and members for superannuation funds to have their unit […]

Focusing on super’s retirement phase

Rise of the Retirement Phase in Super As the superannuation system in Australia continues to mature, we are observing a shift in focus for super funds from the accumulation phase to the retirement phase. Figures from the Federal Government’s 2021 Intergenerational Report project that the value of superannuation assets under management in the retirement phase […]

Recent challenges and 2023 outlook

As we progress into 2023, we recall the key developments from 2022, and we anticipate what challenges 2023 presents to our industry. Global political events One of the most significant events of recent years has been the war in Ukraine. This conflict has had major implications for the global economy, as it has led to […]

Reflections on the Levy quality of advice review

The purpose of Treasury’s recently published Quality of Advice Review is to improve the accessibility and affordability of quality financial advice, with the goal of helping all Australians achieve their financial goals and make informed decisions about their finances. The review was focussed on the regulatory framework that applies to the supply of financial advice. The […]