A focus on strong performance
SuperRatings' Pension of the Year 4 years in a row4
Chair Don Luke addressed QSuper’s first Annual Members' Meeting on 10 November 2020. Here’s what he had to say:
At QSuper we only exist for one thing and that is to serve you, our members, and to help you have the best possible retirement.
This has been a year like no other, incredibly challenging for all of us.
Firstly, from a health perspective with the devastating impact of COVID around the globe and in our community.
And I want to pass on our thanks to so many of you, our members who have served our communities so exceptionally over this time, members in health, education, police and emergency services and others – we owe you our heartfelt thanks and have a deep sense of gratitude.
In addition to health consequences, COVID has caused enormous economic dislocation in Australia and throughout the world.
It has been an incredibly difficult time in investment markets, which I know has caused many of you a great deal of concern. Investing for you in these markets has been a major challenge for our Investments team, to ensure that we invest your money wisely and productively.
And whilst these difficult markets have meant that your investment returns have been lower than we would've liked, we are immensely proud of how the Investments team has navigated this crisis, and the way in which they have delivered for you.
It's not surprising that QSuper has won two of the major investment awards in Australia for superannuation funds this year.
We recognised throughout the year, that you were seeking financial advice in different ways and have altered our advice model to put more emphasis on a telephone response to members wanting advice on their superannuation investments.
We understand the importance of insurance as part of retirement planning and have adapted our offering to meet new government regulations and to make it more accessible to new members, particularly those joining through the health sector.
In a year where having insurance has been more important than ever, our claims paid over the last year have been much higher than expected, delivering benefits when they are needed most.
The dedication of our staff has been crucial. I pay credit to their rapid response to the COVID challenge and recognise the efforts required by them to seamlessly relocate from our offices to their homes, while maintaining service to you, throughout.
Since joining QSuper almost a year ago, I have been continually impressed by the team’s focus on members’ needs.
It is the reason our staff come to work every day and I want to thank them for their exceptional service.
Because of their outstanding work, QSuper was awarded Pension Fund of the Year for the fifth year in a row and, this year, super Fund of the Year from ratings agency SuperRatings.
As a board of trustees, we have kept our focus on strong governance.
Superannuation is designed as a long-term asset, a means by which members can prepare for their life after work, during their whole working life. We are your partner in achieving this end.
QSuper will serve you best if it achieves strong returns by being exceptionally competitive in international investment markets, minimising fees and by achieving excellence and scale in our operations.
To this end, we continue to explore a merger with another large Queensland fund, Sunsuper. But I emphasise that this merger will only occur if it is in the best interests of QSuper members and we will keep you fully informed on the progress.
Accountability to our members is crucial. The Annual Members' Meeting adds another forum to the many we already have, to educate members and talk to you about how your funds are invested, and how we work to meet your needs.
Thank you for your interest and support.
For over 100 years QSuper has been there for members – in the good times and the tough ones – and today is no different.
Read more about coronavirus and your super
Book a financial advice appointment
View recent investment performance
Register for an online seminar
QSuper has scored more big wins for members at the prestigious annual SuperRatings and Lonsec awards, recognising excellence in the superannuation industry.
Chief Executive Officer, Michael Pennisi, says members have remained our number one priority in a year unlike any other in more than 100 years of QSuper history.
In 2020, we have never been more focused on those needs. Here’s a brief recap of the financial year just gone.
Head of Investment Strategy Damian Lillicrap reflects on how history has helped shape QSuper’s handling of the coronavirus pandemic.