The Board
Board responsibilities
The QSuper Board is responsible for the operation of QSuper, including the creation and implementation of its strategic plan, the formulation and oversight of its investment strategy, and the development and delivery of its membership offer.
The Board works closely with its major partners. These include its principal investment and asset consultant – QIC, its asset consultant – Watson Wyatt, its financial planning provider – Q Invest, and its audit partners – the Queensland Audit Office (external audit) and Ernst & Young (internal audit), to ensure QSuper strengthens and maintains its position as a leading superannuation fund.
The Board delegates the day-to-day administration of QSuper to the Chief Executive Officer and Executive management team in QSuper Limited. However, the Board retains responsibility for the operation of QSuper and receives regular reports from QSuper Limited's management. The Board has procedures in place to ensure that the Executive management team is appropriately qualified and experienced to discharge their responsibilities.
QSuper Limited undertakes the daily administration of QSuper, involving over 400 staff, to provide member information and education services (including a Contact Centre, the website, publications, and a seminar program), to process member and employer contributions, maintain member account records, assess benefit claims and process benefit payments, develop the membership offer, complete scheme financial reporting, and provide secretariat services to the Boards.
Composition of the Board and appointments
The Board is established under the Superannuation (State Public Sector) Act 1990 (pdf) - QSuper Act and the prescribed number of Trustees is twelve, comprising equal employer and member entity representation.
To achieve the Board's prescribed membership, six people are nominated by the Queensland Government to be the employer representatives. Of the six member entity representatives, one is nominated by the Australian Workers’ Union, Queensland, and the remainder by the Queensland Council of Unions. Trustees serve on the Board for a term of up to three years, after which they may be nominated to accept reappointment.
The current Trustees/Directors are:
| Member representatives |
Employer representatives |
Karen Peut
Executive Director, Department of Main Roads
Appointed: May 1985 |
Bob Scheuber (Chairman of the Board from June 2009)
Former Chief Executive, Queensland Rail
Appointed: December 2007
|
Steve Ryan
President, Queensland Teachers’ Union
Appointed: June 1994 |
John Carpendale
Former superannuation fund executive
Appointed: June 2006 |
Tom Jeffers
Vice President, Australian Workers’ Union, Queensland
Appointed: August 2007 |
Natalie MacDonald
Associate Director-General, Department of Public Works
Appointed: December 2007 |
Gay Hawksworth
State Secretary, Queensland Nurses' Union
Appointed: December 2007 |
Peter Henneken
Director-General, Department of Employment, Economic Development and Innovation
Appointed: December 2007 |
Amanda Richards
Assistant General Secretary, Queensland Council of Unions
Appointed: September 2008 |
Norelle Deeth
Former Director-General, Department of Child Safety
Appointed: June 2009 |
Michael Barnes
General Secretary, Queensland Police Union of Employees
Appointed: June 2009
|
Walter Ivessa
Assistant Under-Treasurer, Queensland Treasury
Appointed: June 2009 |
Meetings
The Board meets on a regular basis. During the 2007/2008 financial year, eleven meetings were held.
Board performance
The Board has implemented a process for the periodic review and evaluation of its performance and the performance of its committees.
Remuneration
The Treasurer, as Minister, determines the Trustee remuneration in consultation with the Board. Board fees are increased annually in line with the Consumer Price Index (CPI). Board members who are also government employees are not remunerated for their Board duties.