Our superannuation product identification number (SPIN) is QSU0101AU (Accumulation account).

Our superannuation fund number (SFN) is 2610 419 41.

Our MySuper authorisation number is 60905115063329.

The AFSL for the QSuper Board is 489650.

The ABN for the QSuper Board is 32 125 059 006.

The QSuper Board's RSE Licence number is L0003391.

The Funds’s ABN is 60 905 115 063.

The Fund's RSE Registration number is R1073034.

QSuper was established by the QSuper Act 1990 to provide benefits for current and previous Queensland public sector employees and employees of Queensland Government entities, such as departments, statutory bodies and government owned enterprises. The Fund consists of Defined Benefit, Accumulation and Income accounts. The Defined Benefit account was closed to new members from 12 November 2008. On 13 April 2017, the QSuper’s Board RSE licence was varied from non-public offer to Public offer.

Accumulation member (including Public Offer)

Our QSuper Accumulation account is designed for prospective members and employers (Public offer members) and current and former Queensland Government employees and their spouses. With an Accumulation account, members can take an active role in how their superannuation is invested by choosing from ten different investment options ranging from higher risk/higher return to lower risk/lower return. If members don’t choose how they want their money invested, we place them into our default option, QSuper Lifetime. QSuper members who don’t work for the Queensland Government have the option for their employer to make their superannuation contributions into their Accumulation account on their behalf.

For these members, QSuper complies with the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS) and APRA Prudential Standards in a manner consistent with other public offer superannuation funds.  In particular the SIS requirements relating to Portability (including Trans-Tasman) and Temporary Residents Permanently Departing Australia.

Income Account (including Transition to Retirement) members

Our Income account is an account-based pension product that allows members to use their superannuation funds to provide an income in retirement. The pension is paid until the Income account balance is exhausted. The transition to retirement option allows eligible members to open an Income account and draw an income stream while they’re still working.

For these members, QSuper complies with the Superannuation Industry (Supervision) Act 1993 (Cth) and APRA Prudential Standards in a manner consistent with other public offer superannuation funds.

Defined Benefit Products (Closed products)

Current members with a Defined Benefit account are able to maintain their existing benefits until they decide to retire, transfer to an Accumulation account or leave their current employment. The Defined Benefit account was closed to new members from 12 November 2008. These defined benefit products are funded separately. Public Offer members will not be acquiring an interest in a defined benefit product.

Defined Benefit Arrangements

Due to the following arrangements, QSuper is technically classified as an unfunded public sector superannuation scheme.  Employing authorities are required to remit Defined Benefit employer contributions (excluding salary sacrifice contributions) to Queensland Treasury. These contributions are accumulated in a reserve, managed by the Queensland Treasury Corporation on behalf of the Queensland Government (‘Employer Fund’), which is maintained to finance the State’s future liability for the employer component of all defined benefits. The Queensland Treasurer, on advice from the State Actuary, determines the rate of employer contributions. As defined benefits become payable, the full cost is met by QSuper, with the Employer Fund contributing the employer’s share of these benefits. This split funding arrangement is the reason for the difference between net assets available to pay benefits, per the Statement of changes in net assets and the value of accrued benefits and vested benefits as at the respective measurement dates.

The QSuper Board was established under the Superannuation (State Public Sector) Act 1990 (the QSuper Act). The QSuper Act includes rules relating to nominating and appointing QSuper Trustees and also established the Superannuation (State Public Sector) Deed 1990 (the QSuper Deed). The QSuper Deed provides the governing rules of the scheme under which we administer the provision of services to members.
Our Annual reports provide information on the governance and operation of the Fund, as well as financial statements, including Key Management Personnelremuneration.

1. Key Management Personnel includes only those employees who have been appointed, with full decision making capacity, to roles which have responsibility for planning, directing and controlling the activities of the Group.

Every year, the QSuper Board assesses whether the performance of each of our products is promoting the financial interests of our members, as required by law.

The Board considers factors including investment risk, returns, and strategy; fees and costs; product options, benefits, and services; operating costs and scale; and insurance strategy and affordability.

At the time of writing, the Board is satisfied with both our performance compared to our competitors and the appropriateness of our strategy and delivery (for our Accumulation and Income accounts).

2020 Member Outcomes Assessment (pdf) 

The Investments Proxy Voting Policy contains information on how we delegate the exercise of proxy votes to our equity managers in Australia and overseas.
Find out more about the QSuper Board and Trustee meeting attendance.
The QSuper Board uses outsourced service providers to help manage the QSuper Fund.

It’s a requirement of the QSuper Trust Deed that, at least every three years, an actuary investigates and reports on the QSuper defined benefit arrangements. Our Actuarial Report has information on the funding of our defined benefit accounts.

The QSuper Board has appointed QInvest to provide financial product advice. The Financial Services Guide (pdf) gives you information about the financial services QInvest Limited offers and the QSuper products that are issued by the QSuper Board. It also provides information about third party relationships and what to do if you have a complaint.

Product dashboards provide information (like return targets, fees and risk) to help you compare QSuper's Lifetime, our MySuper approved option, with other MySuper products. A dashboard is available for each of the eight groups within Lifetime.

You’ll find more about MySuper funds on ASIC's MoneySmart website.

A conflict of duty or interest is a circumstance which may unduly or inappropriately influence the ability of the Board (or one of QSuper's Responsible Persons) to function with the degree of probity and independence their role requires, or with regard to their duty of care to superannuation fund members and their beneficiaries.

Find out more about our conflicts of interest & duty.

QSuper is committed to the evaluation of all claims and underwritten cases thoroughly, fairly and objectively.The payment of all valid claims promptly and correctly and transparency of decision- making and communication of actions is very important to QSuper.

QSuper’s philosophy is that, unless there is awareness of something to the contrary, all information provided by the member is assumed to be genuine.  A common sense approach to decision making is encouraged, and minimising any delays in the process.

The QSuper Board has elected that members employed by the Queensland Police Service, the Queensland Ambulance Service, or the Queensland Fire and Emergency Services be provided with automatic default insurance cover in their QSuper Accumulation account, (existing terms and conditions still apply), which they can cancel at any time.

Our Insurer's promises to you *

When you have QSuper insurance, it’s important that you get the highest standards of service in all your dealings.

That’s why our insurer, QInsure Limited, has joined the Financial Services Council (FSC) of Australia and adopted the Life Insurance Code of Practice. It’s the life insurance industry’s commitment to mandatory customer service standards and it’s designed to protect customers.

Find out more

We have previously stated our intent to adopt the Insurance in Superannuation Voluntary Code of Practice (the Code). The Code had been scheduled to come into effect on 1 January 2022.

Since the development of the Code, the majority of the requirements have been overtaken by legislative and regulatory reforms, which is why on 1 July 2021, the Code-owners announced they were replacing the Code.

The Code-owners are the Association of Superannuation Funds of Australia (ASFA), the Australian Institute of Superannuation Trustees (AIST), and the Financial Services Council (FSC).

The Code-owners have jointly developed guidance on issues not covered by legislation – improving outcomes for vulnerable members and claims handling for member with life insurance. For more information, see the Code-owners' announcement.

We are committed to continuing any work that improves members' experiences, and following any new guidance that emerges.

We must notify members of all significant changes and events within the fund. We do this using a number of mediums, and information about our previous significant event notices can be found below.

Date  Topic Summary
November 2021

We have changed our approach to capital adequacy of the QSuper Board to ensure continued financial stability of the Board and will charge a fee, to be paid from reserves, in response to legislative changes.

We have made changes to how we apply and disclose Lifetime investment fees and costs for Accumulation accounts, in line with legislative changes.

For Accumulation accounts. we have changed some of the insurance duty of disclosure wording, in line with updated legislation.

You can find more information in the Product and legislation update November 2021 (pdf)
July 2021

We are reducing some of the fees on our Self Invest investment option from 1 July 2021.

You can find more information in the Product and legislation update July 2021 (pdf)
May 2021

We are making changes to some of our investment options, including how we invest your money.

We are also making changes to some of our insurance terms and conditions. These changes relate to how and when members may be eligible to receive insurance payments on claims made through their Accumulation accounts. The changes may affect claims made for injuries or illnesses that happen on or after 1 July 2021.

We have provided an update about the Heads of Agreement for the proposed merger of QSuper and Sunsuper, and letting you know about some key legislative changes that relate to superannuation.

You can find more information in the Product and legislation update May 2021 (pdf)
November 2020

We are making changes to the cost of insurance provided to members through their Accumulation accounts. Most insurance premiums will increase from 1 January 2021.

We are also clarifying wording about default insurance arrangements for members who open their account directly (not through the Queensland Government or a default employer).

You can find more information in the Product and legislation update November 2020 (pdf)

August 2020

Members invested in the Socially Responsible investment option on 9 June 2020 have been advised of a one-off transaction cost incurred in transferring management of this option to QSuper.

Members who are affected have been contacted with details of the changes.

May 2020

Changes to insurance provided through the QSuper Accumulation account:

  • Improvements to cover for pandemic illnesses, and a change to the pandemic illness definition, effective from 11 March 2020.
  • Improvements to cover for disaster relief efforts for Australian Defence Force Reservists effective from 1 April 2020.
  • An update on insurance for members who apply to join the fund before the age of 16.

Changes to some of our investment options:

  • The standard risk measures in our Lifetime and the Socially Responsible investment options will change from 1 July 2020.
  • Replacement of the investment manager, and changes to the guiding principles of our Socially Responsible investment option by 1 July 2020.
  • The Asset allocations for some of our investment options are changing from 1 July 2020.

Updates to our Self Invest option:

  • Changes to the treatment of listed securities in an extended trading halt, effective from 31 January 2020.
  • Change to the process for restoring low transaction account balances from 1 July 2020.

A temporary change to legislated minimum drawdown amounts for Income accounts for 2019-20 and 2020-21 financial years.

For Defined Benefit account members
From 1 July 2020 we are improving access to your Defined Benefit if you have a terminal medical condition. More information will be provided in the letter we send you.

You can find more information in:

November 2019

The Australian Government is making changes to how insurance cover is provided through superannuation as part of their “Putting Members’ Interests First” reforms. These changes aim to protect members under the age of 25 or with low superannuation balances from having their retirement savings unnecessarily eroded by insurance premiums.

These reforms commence from 1 April 2020 and only relate to insurance provided through the QSuper Accumulation account.

Super funds are required to notify members that could be impacted by this change. QSuper will be communicating to:

  • New and current members at risk of having their insurance cover cancelled on 1 April 2020.
  • Members that could be impacted by these changes from 1 April 2020 onward.
  • Members with a low superannuation balance.

You can find more information in the Product and legislation update November 2019 (pdf)

September 2019
  • Changes to the cost of Default rate salary-based income protection insurance cover (two year benefit period) from 1 July 2019.
  • Changes to the cost of Default rate unitised income protection insurance cover (two year benefit period) from 1 July 2019.
You can find more information in:
May 2019
  • Changes to the features, benefits, and cost of insurance cover from 1 July 2019
  • Changes to how we refer to our Income account product, who can open an Income account, and the minimum account balance that will apply on withdrawals and transfers between products
  • Changes to the Australian Government’s rules about the work test, making downsizer contributions, the First Home Super Saver Scheme, and the fees that can be charged on low account balances
  • Changes to the asset allocation of our Socially Responsible investment option and our Sustainable investment policy
  • Changes to how you can pursue the resolution of a superannuation-related complaint.
You can find more information in:
April 2019

The Australian Government is introducing changes on 1 July 2019 that aim to strengthen the measures that protect a member’s superannuation balance. This is part of the Australian Government’s Protecting Your Super package. Superannuation funds are required to notify members by 1 May 2019 who have not received any money into their account for six months or more as at 1 April 2019, alerting them to the fact that they are at risk of losing their cover. QSuper will be cancelling cover for inactive members who have not received any money into their Accumulation account for 13 continuous months. Members have been notified that they can permanently opt in or to have funds added to their Accumulation account to keep their insurance cover.

Members who are affected have been contacted with details of the changes.

July 2018
  • Reduction of our administration fee from 0.18% to 0.16% p.a. from 1 July 2018
  • Reduction of our administration fee cap from $1,000 to $900 per year from 1 July 2018
  • Changes to our Self Invest option to expand our Exchange Traded Fund (ETF) offerings from 1 July 2018
  • Change to the Socially Responsible investment option’s asset allocation range for cash effective from 27 November 2017
  • Changes to our QSuper Accumulation account insurance definitions, coverage, and arrangements for certain members a (such as, former police officers, QPAT employees, QAS employees and Magistrates), from 1 July 2018

You can find more information in:


QSuper invests thoughtfully in partnership and marketing programs that benefit our members and help us attract new ones. Advertising is one of the cost-effective ways that we share information about our products and services to many people at the same time. This helps current and future members hear about what QSuper stands for and how we can work to provide the best possible outcome for their retirement.

The sustainability and continued growth of our fund is in the best interests of our members, because with more members we can continue to keep our fees low and invest on a global scale.

We believe this approach is working because our members have made us the most recommended superannuation brand for two years running.1

1. Source: Engaged Strategy 2018 Superannuation Consumer Loyalty and Recommendation Study. Survey of more than 1700 Australians, using the Net Promoter Score framework, in conjunction with customer experience, loyalty and brand metrics.

The Australian Institute of Superannuation Trustees (AIST) is a national, not-for-profit organisation and is one of the principal advocates and peak representative bodies for the profit-to-member superannuation sector. It plays a key role in policy development and is a leading provider of research. On 12 April 2017, AIST published its new Governance Code in order to:

  • promote continuously improving governance in the profit-to-member super sector;
  • ensure that the culture of the profits-to-members concept is fully supported by governance structures; and
  • improve accountability and transparency.

The Code is comprised of eight key principles underpinned by 21 requirements. As QSuper is a member of AIST, this QSuper’s Governance Report has been prepared to document QSuper’s compliance with the Code and, in instances where QSuper diverges from AIST’s requirements, the report seeks to explain the rationale for this.

* QInsure Limited (ABN 79 607 345 853, AFSL 483057) (‘QInsure’) is ultimately owned by the QSuper Board as trustee for QSuper. The QSuper Board holds a group life policy issued by QInsure, for death cover and total and permanent disability (TPD) cover and income protection cover.

A target market determination is a document that describes who a product may be appropriate/inappropriate for (target market), and any conditions around how the product can be distributed to customers (retail clients).

It also includes the events or circumstances where we may need to review the target market determination for our products.

We’re required to have target market determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019. This legislation was introduced to ensure that financial services product issuers and distributors - like us - have a customer-centric view.

For more information, view the target market determination for each of our products.