Disclosure

It's a requirement of the Superannuation (State Public Sector) Act 1990 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 QSuper Defined Benefit accounts.

We invest 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 we stand for and how we can work to provide the best possible outcome for their retirement.

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

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 Australian Retirement Trust.

Find out more about Australian Retirement Trust Pty Ltd (the Board) and Trustee meeting attendance.

A conflict of duty or interest is a circumstance which may unduly or inappropriately influence the ability of the Board (or one of the Board'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.

The Financial Services Guide (pdf) provides information about services provided by QInvest and the Board (Australian Retirement Trust Pty Ltd). It also provides information about third party relationships and what to do if you have a complaint.

The Fund (Australian Retirement Trust) commenced following the merger of QSuper and Sunsuper on 28 February 2022. The Fund has 2 parts: public offer division and government division. The government division branded as QSuper is only open to Queensland Government employees, current members, and other people who can use QSuper products, and people who applied to join QSuper before 28 February 2022. The Fund consists of Defined Benefit, Accumulation, Income, and Lifetime Pension products.

The QSuper Defined Benefit account was closed to new members from 12 November 2008.

Accumulation member

The QSuper Accumulation account is designed for Queensland Government employees, current members, and other people who can use QSuper products. 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, Australian Retirement Trust 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) and Lifetime Pension members

The QSuper 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. The QSuper Lifetime Pension allows members to use their superannuation funds to purchase an income stream in retirement. The Lifetime Pension provides an income for life for the member and their spouse (if they choose the spouse protection option), no matter how long they live.

For these members, Australian Retirement Trust 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 QSuper 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 QSuper Defined Benefit account was closed to new members from 12 November 2008. The QSuper Defined Benefit products are funded separately.

Defined Benefit Arrangements

Due to the following arrangements, Australian Retirement Trust is classified as an unfunded public sector superannuation scheme. Employing authorities are required to remit QSuper Defined Benefit employer contributions to Queensland Treasury. These contributions are accumulated in a reserve ('Employer Fund'), which forms part of the Queensland Government's consolidated fund. The Employer Fund is maintained to finance the State's future liability for the employer component of all QSuper defined benefits. As defined benefits become payable, money from the Employer Fund is transferred to Australian Retirement Trust to fund the employer's share of these benefits.

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.

Every financial year, Australian Retirement Trust Pty Ltd (the 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.

Prior to merging with Sunsuper to become Australian Retirement Trust, the QSuper Board completed this assessment for QSuper products. At the time of assessment, the QSuper Board was satisfied with QSuper's performance compared to its competitors and the appropriateness of the strategy and delivery (for QSuper Accumulation and Income accounts).

• 2021 Member Outcomes Assessment (pdf)

The Board 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 us.

Our 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.

Australian Retirement Trust Pty Ltd uses outsourced service providers to help manage QSuper.

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

• Outlook
• Aspire 1
• Aspire 2
• Focus 1
• Focus 2
• Focus 3
• Sustain 1
• Sustain 2

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

Access our product disclosure statements.

Promoting gender equality is a part of our culture of inclusion and belonging at Australian Retirement Trust, carried over from our heritage organisations, Sunsuper and QSuper.

To meet the requirements of the Workplace Gender Equality Act 2012, Sunsuper and QSuper lodged annual public reports with the Workplace Gender Equality Agency on 28 June 2022. The reports include details on:

• The gender composition of each organisation’s workforce.
• The flexibility and support offered for parents and carers.
• Other actions to promote gender equality.

QSuper and Sunsuper merged to become Australian Retirement Trust on 28 February 2022. Given the reporting period of 1 April 2021 to 31 March 2022, this year we submitted reports for each heritage organisation that outlined our strong approach to workplace equality with programs and practices in place to support gender equality.

Our Insurer's promises to you ¹

When you have insurance through your QSuper account, 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

1. QInsure Limited (ABN 79 607 345 853, AFSL 483057) ('QInsure') is a registered life insurance company.

Our MySuper authorisation number is 60905115063050.

The AFSL for Australian Retirement Trust Pty Ltd is 228975.

The ABN for Australian Retirement Trust Pty Ltd is 88 010 720 840.

The RSE Licence number for Australian Retirement Trust Pty Ltd is L0000291.

The ABN for Australian Retirement Trust ("The Fund") is 60 905 115 063.

The RSE Registration number for Australian Retirement Trust ("The Fund") is R1073034.

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.

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.

The 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.

Australian Retirement Trust Pty Ltd was established on 28 February 2022. Our Deed of Amendment for Australian Retirement Trust ("The Trust Deed") and the Government Division Participation Schedule provide the governing rules of the scheme under which we administer the provision of services to members, including the Government Division rules for Defined Benefit members.