QSuper has adopted the Insurance in Superannuation Voluntary Code of Practice.

The following insurance arrangements within the QSuper Accumulation account product will be covered by the Code:


Death cover
(including terminal illness)


Total and permanent disability (TPD) cover


Income protection cover

QSuper already meets over 70% of the individual Code standards and we are currently working towards full compliance by 1 July 2021.

As a result of the Protecting Your Super (PYS) and Putting Members’ Interests First (PMIF) legislation, the Code is being reviewed by its owners – the Association of Superannuation Funds of Australian (ASFA), the Australian Institute of Superannuation Trustees (AIST), and the Financial Services Council (FSC). As the Code changes, we will continue to work towards full compliance by 1 July 2021.

QSuper’s transition plan will be subject to any statutory obligations and may need to be amended accordingly.


To protect the financial wellbeing of our members, QSuper offers some of the highest levels of default insurance cover amongst industry funds. Due to this, we have opted out of section 4.9 of the Code. Section 4.9 states that the cost of automatic insurance benefits should not exceed 1% of the estimated level of salary for our membership generally.

We have opted out of this section because:

  • The financial wellbeing of our members is important. Insurance plays a vital role in bridging the gap between a member’s retirement account today and what they may need in the event of an unplanned absence from work or early death.
  • Protecting our members requires a focus on value, not just cost. While members can choose the types of insurance they hold or apply for, automatic insurance should provide an adequate and affordable level of cover. In some cases the total cost may exceed 1% of salary.

On this basis, opting out of this section of the Code is in our members’ best interests.

We are continually looking at ways to make our superannuation product insurance services even better for our members and are proud to be helping more than 400,000 members protect their future via insurance cover.

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