Queensland’s largest superannuation fund, QSuper, has been awarded the industry’s top accolade for the second year in a row at the SuperRatings awards in Sydney tonight.
QSuper CEO Michael Pennisi said it was an honour to win 2017 Fund of the Year which is awarded to the fund with the best value end to end product offering by the independent ratings agency.
QSuper also won MySuper of the Year, again for the second year in a row, for the best value for money default offering.
Mr Pennisi said QSuper had delivered a number of industry-leading innovations over the past year which offered real benefits to the fund’s 550,000+ members.
“Two key innovations we delivered in this past year - the Income Account Transfer Bonus for eligible members facing retirement, and a new tailored insurance offering which allows members to choose cover that suits them at any stage of their life - are both bringing real benefits to our members,” he said.
The new insurance offering is backed by the establishment of a wholly-owned insurance company, QInsure1, another industry first which was launched on 1 July.
“Almost 3000 members are already benefiting from a bonus worth collectively more than $4.5 million since the Income Account Transfer Bonus was introduced in June,” he said.
“And our insurance offering is giving our members meaningful default cover and the flexibility to change their insurance as their life progresses and circumstances change.
“QSuper members come from a broad range of industries and occupations, and they perform some of the toughest jobs in the community. We wanted to be able to help them create insurance cover that works for them, that they can also change as their life changes.
“Creating QInsure was the best solution for our members and is an example of QSuper leveraging its scale to enhance the benefits it provides.
“We are proud to receive these awards as acknowledgment of the work we’re doing to help each and every member ensure that their retirement years are some of their best years.”
QSuper is Queensland’s largest superannuation fund and manages in excess of $65 billion in funds for more than 550,000 members and was awarded SuperRatings Fund of the Year 20162.
Geraldine Mitchell / QSuper / 0418 429 866 / firstname.lastname@example.org
1. The insurance arrangements for death and total and permanent disability (TPD) and income protection are provided by QInsure Limited (ABN 79 607 345 853, AFSL 483057) through a group life policy issued to the QSuper Board. QInsure Limited is ultimately owned by the QSuper Board as trustee for the QSuper Fund.
2. SuperRatings does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details for its ratings criteria. Past performance is not a reliable indicator of future performance.