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Superannuation fund financial model, built free.

A three-statement Excel model for a superannuation or pension fund, built from your own figures and checked to balance.

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  • Usually ready within the hour

We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more

The business

Trustee-run fund collecting compulsory and voluntary contributions, investing members' balances in investment options, paying benefits and rollovers, and charging administration and investment fees, with member balances as its main liability.

See the sampleHow the model works

In short

  • 01

    Three linked statements

    Income statement, balance sheet and cash flow, linked in every period.

  • 02

    Valued two ways

    Discounted cash flow and trading multiples, side by side.

  • 03

    Monthly to annual

    Monthly, quarterly, half-yearly or annual periods, for up to 30 years.

  • 04

    Checked every period

    A Checks sheet shows the balance sheet balances and the cash reconciles.

The sample

The sample, as Excel draws it.

Built by the same system and checks as yours, on illustrative figures: every sheet as Excel draws it, or live.

Annual · 10 years · Low detail
Superannuation fund sample model.xlsx
The Summary sheet of the sample superannuation fund model

Illustrative figures: the sample describes no real business. The live preview shows values; your model’s Excel file has every formula.

How it works

How the model works for a superannuation fund.

  1. How it earns revenue3 formulas
    Investment returns by option · Across the business
    Investment incomeInvestment returnIncome share of the return: default optionInvestment returnIncome share of the return: growth optionsInvestment returnIncome share of the return: conservative optionInvestment returnIncome share of the return: cash option
    Investment returns by option · Across the business
    Fair value movementGross investment returnInvestment income
    Investment returns by option · Across the business
    Net purchases (member flows and income after tax and fees reinvested)Net member flowsfrom member benefits liabilityInvestment incomeFund income tax expensefrom company-wideFees charged to membersfrom administration fees, costs and trustee expenses
  2. What drives its costs3 formulas
    Member benefits liability · Across the business
    Net member flowsContributions received (members and contributions)from members and contributionsRollovers and transfers in (rollovers, benefit payments and transfers)from rollovers, benefit payments and transfersBenefits paidRollovers and transfers outInsurance premiums deducted
    Member benefits liability · Across the business
    Net return allocated to members (after fees and tax)Investment income (investment returns by option)from investment returns by optionFair value movement (investment returns by option)from investment returns by optionFund income tax expense (Company-wide)from company-wideFees charged to members (administration fees, costs and trustee expenses)from administration fees, costs and trustee expenses
    Member benefits liability · Across the business
    Member balances at the end of the periodMember balances at the start of the periodNet member flowsNet return allocated to members (after fees and tax)from after fees and tax
  3. What it invests in3 formulas
    Corporate fixed assets
    Capital expenditureRevenuefrom statementsCapex as % of revenueAdditional planned capex
    Corporate fixed assets
    DepreciationDepreciation of the opening asset baseDepreciation of new capex
    Corporate fixed assets
    Closing net book valueOpening net book valueCapital expenditureDepreciation
  4. How profit becomes cash3 formulas
    Working capital
    Trade receivablesRevenuefrom statementsDebtor daysDays in period
    Working capital
    InventoryDirect costs (positive)from statementsInventory daysDays in period
    Working capital
    Trade payablesCash operating costs (positive)from statementsCreditor daysDays in period
What it covers

20 parts, each one tested.

Every part is a tested building block with its own checks: yours is put together from the ones your business needs.

  • CPI forecastCPI glide path
  • Operating expensesHeadcount build by function
  • Corporate costsFixed cost base indexed to CPI
  • Working capitalFull working capital
  • Corporate fixed assetsStraight-line over remaining life
  • Discounted cash flow valuationDCF on free cash flow to the firm
  • Multiples valuationEV / EBITDA multiple
  • Distribution, platform and fund servicing costsPer-transaction servicing costsCosts that scale with funds under management or capital raised — trail and platform fees, placement agent fees, custody, fund administration and transaction costs borne by the manager.
  • Members and contributionsSuperannuation guarantee on wagesMember numbers and the employer, salary-sacrifice and personal contributions they bring in.
  • Rollovers, benefit payments and transfersFlows as rates of balancesMoney moving between funds and out to members — rollovers in and out, lump sums, pension payments and successor fund transfers.
  • Investment returns by optionFUM by option × expected returnIncome and fair value returns on the fund's investments, by investment option or asset class.
  • Administration fees, costs and trustee expensesDollar and percentage fee scheduleFees charged to members and the administration, investment and trustee costs they fund.
  • Group insurance for membersInsured members × premiumDeath, TPD and income protection premiums deducted from members' accounts and paid to the group insurer.
  • Fund income taxEffective tax rate on returnsTax on concessional contributions and investment earnings.
  • Member benefits liabilityMember balance roll-forwardMembers' balances as the fund's liability, rolled forward from contributions, flows, returns, fees, tax and insurance.
  • LeasesLease register
  • Key-metric summaryLast-twelve-month and run-rate metrics
  • Headcount and payrollFTEs by department x loaded cost
  • Case selectionStackable stress toggles
  • FUM flows and market movementNet flows plus market movementFunds under management or administration rolled forward from inflows, outflows, market returns and currency.
Key numbers

The numbers it tracks.

  1. 01members
  2. 02contributions
  3. 03net cash flow
  4. 04FUM
  5. 05investment return by option
  6. 06fees per member
  7. 07operating cost per member
  8. 08net benefit outcomes
  9. 09reserves
Used for

What it is used for.

Also used for
  • Scenarios and sensitivities
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The sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.