QSuper another step closer to opening its doors

Thursday, 1 December 2016

Queensland’s largest super fund is another step closer to welcoming new members today, with legislation to lift restrictions on who is able to be a member of QSuper passed by State Parliament.

Due to take effect by 30 June 2017, the changes remove the requirement for members to be current and former Queensland public sector employees or their spouses, paving the way for QSuper to open its doors to all Queenslanders, subject to Federal regulatory approval.

CEO Michael Pennisi said while the milestone was a significant one in QSuper’s 100 year history, the Fund remained focused on its current members and their financial wellbeing.

“QSuper looks after the retirement funds of one in five working Queenslanders and that’s a responsibility we take very seriously,” Mr Pennisi said.

“Our single-minded focus is on helping every one of them reach their financial goals, both now and into retirement, and that will not change.

“At QSuper, our members come first and we will continue to provide them the best possible value for money through award-winning products, services, advice and some of Australia’s lowest fees,” he said.

QSuper was recently awarded SuperRatings highest award of Fund of the Year for a second year running.

“This is an exciting time for the Fund and its members.  We have long had members’ family and friends keen to access our strong long term returns as well as personalised solutions and low fees – and soon we will be available to them,” he said.

QSuper is now focused on working with regulators to secure appropriate licencing to become an open fund in 2017. 

For more information, or to register interest in becoming a member of QSuper, please visit www.qsuper.qld.gov.au/opentoall or call 1300 360 750.

QSuper is Queensland’s largest superannuation fund and manages in excess of $65 billion in funds for more than 550,000 members. It has been awarded SuperRatings Fund of the Year in both 2016 and 20171.

Past performance is not a reliable indicator of future performance.

1. SuperRatings does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details for its ratings criteria.