In a nutshell

The Defined Benefit account was designed to provide you with a respectable amount in retirement which reflects your service to the state.

With a Defined Benefit account, your retirement benefit is calculated by multiplying a number which reflects both your years of service and your contribution rate (your multiple) with your final salary. Find out how you can grow your super even more.

The Defined Benefit account isn’t impacted by market movements – so if the market crashes you still get the same ‘defined’ amount. The account also comes with a number of other great benefits such as insurance.

The Defined Benefit account is now closed to new members. If you have an Accumulation account with us, unfortunately you can’t choose to transfer to a Defined Benefit account. Your Defined Benefit account will stay open until you resign or change jobs (if you’re leaving a Defined Benefit employer) or you decide to transfer your funds to another account.

Benefits of the account

A generous scheme

The average QSuper Defined Benefit account member retires with a balance nearly four times the Australian average.1

Protection from volatile markets

Your retirement savings aren’t subject to market fluctuations and you’ll get a defined amount when you retire.

Your retirement savings are safe

The Queensland Government is required to pay your Defined Benefit so you can relax knowing you'll receive your super when you retire.

No fees

There are no fees with the Defined Benefit account as the amount you pay is determined by a formula.

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Insurance benefits

A pension for your young children should you pass away

If you pass away while holding a Defined Benefit account, your children will receive a fortnightly pension until they turn 18, or 25 if they’re studying full-time, or for life if they have a permanent disability at the time of your death.

Lifetime pension if you’re under 55

If you're assessed as being totally and permanently disabled before turning 55, you have the option to receive a lifetime pension.

Death and total and permanent disability (TPD) protection

Death and TPD insurance is automatically included as part of your account without additional charges.

Income protection

If you can’t temporarily work due to illness or injury, you may be paid an income of up to 75 per cent of your previous 1 July salary for up to two years while you’re off work. Police officers don’t have income protection as they access Sick Bank.

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Find out more

Find out more about how the Defined Benefit account works:

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Standard contributions

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Your final benefit

How your final benefit is calculated and how part time work can affect it.

Learn more

Resigning and changing jobs

Understand your options when you resign or change your job.

Learn more

Growing your super

There are two different ways you can grow your super with us.

Learn more

Insurance

Details of the included insurance benefits.

Learn more



1. APRA reports the average balance of a person between 60-65 years old as $109,517 as at financial year 2013 in Annual Superannuation Bulletin, Revised 5 Feb 2014. QSuper’s Defined Benefit members between 60-65 years old have an average super balance of $515,000 as at financial year 2014/2015. Please note, QSuper’s Defined Benefit members tend to be working in long-serving positions and may have experienced more time in employment than the average Australian. Also the figures reported by APRA may be lower as Australians can have super in more than one super fund and the APRA figures show an average from each fund, whereas Defined Benefit members are more likely to have more of their super with us due to the long standing nature of working for the Queensland Government. These figures are intended to illustrate that the Defined Benefit scheme generally results in a retirement benefit which on average is higher than that achieved by contributing at the default super guarantee rate.