ComSuper, the administration provider to numerous public service superannuation schemes, including the Australian Reward Investment Alliance (ARIA), has arrived at the pre-tender stage of replacing its major administration systems, collectively valued at $20 million.
“ComSuper is in the pre-tender stage, conducting market research,” James Peterswald, ComSuper executive manager IT strategic sourcing branch, said. Peterswald said that while ComSuper was considering all options, the replacement of administration platforms servicing the Public Sector Superannuation (PSS)scheme and the Commonwealth Superannuation Scheme (CSS), which, combined with the PSS Accumulation Plan (PSS Ap), form ARIA, was a minimum requirement. While the IT systems review will not cover PSS App, it will extend to the Military Superannuation and Benefits Scheme and Defence Force Retirement and Death Benefits scheme. The move signals the first time that ComSuper has sought to replace its administration platforms. ComSuper currently operates two internally developed administration platforms to support the PSS and CSS schemes. The solution run for PSS was based on the CAPITAL system, built by Synchronised Software. In particular, the administration provider is keen to source providers that are able to supply: improved maintenance of records belonging to scheme members, employers, trustees and regulators; easier collection of contributions from more than 250 employers, in numerous formats and through various channels; better management of member accounts and payments processing; and more efficient transmission and receipt of information and statements. It would also consider systems that use rules engine technology to calculate benefit payments and minimise impacts stemming from legislative and regulatory change. Broader requirements would be deduced from industry feedback and subsequent one-on-one sessions with interested system providers, a process that will begin with an industry briefing session on Thursday August 16, the ComSuper website stated. To date, 65 companies have registered interest in attending the briefing session. ComSuper expected to start acquiring new systems in the fourth quarter of calendar 2007, with the aim of installing the products during a three-to-four year period, the website stated.
Since taking over the top job at the $44 billion Funds SA more than a year ago, chief executive John Piteo has ushered in an investment function overhaul and wrapped up an important stage of the fund’s five-year data transformation program. It pledges to recentre around investment performance and more efficient processes, as the “missing piece” has been found in incoming CIO Con Michalakis.
Darcy SongJanuary 10, 2025
