You may have heard a recent announcement that the Queensland Government is considering using some of the surplus in the Defined Benefit Scheme (which is managed by the Queensland Investment Corporation on behalf of the Queensland Government) to reduce state debt and invest in infrastructure.
We want to let you know that should this happen, it will not in any way impact the money you are entitled to through your Defined Benefit account.
Your benefit is protected under State legislation. It’s also protected by Commonwealth legislation that states the benefit you have accrued in a Defined Benefit account cannot be reduced.
Accumulation account holders also have no cause for concern, as all your money is held in trust by the QSuper Board, and cannot be accessed by the Government.
So whatever type of account you have, please rest assured this announcement will have no impact on your super, or your future retirement lifestyle.