We want to be your super fund for life. So when you change jobs, we make it as easy as possible for you to take us with you.
If you receive a redundancy package you have a few options to consider with your QSuper benefit. 
  1. Keep your superannuation benefit in a QSuper Accumulation account. We’re not just a fund for Queensland Government employees. If your working conditions are changing, or you're moving to a non-Queensland Government employer, it’s easy to stay with us. To find out how to arrange for a non-Queensland Government employer to contribute to your QSuper Accumulation account visit our Changing jobs section.
  2. Open an Income account.This option is generally only available if you have what’s known as an unrestricted non-preserved (cashable) amount. (Not sure? Log into Member Online, check your benefit statement or give us a call). You’ll also need a minimum opening balance of $30,000. For more information about the Income account and the conditions that apply have a read through the Income Account Guide.
  3. Withdraw any unrestricted non-preserved (cashable) amount as a lump sum. If you’re receiving a genuine redundancy payment, your restricted non-preserved component will become unrestricted and you’ll be able to withdraw it as cash. You can leave the remainder of your benefit in a QSuper Accumulation account.
If you have a Defined Benefit account and you receive or accept a redundancy package, you’ll need to send us a Defined Benefit Account Claim form. The form gives you options for how your benefit is invested once your employment finishes. You can find more information on the Defined Benefit Account Guide

You can stay with QSuper by transferring your benefit into an Accumulation account. A QSuper Accumulation account offers you a choice of investment options.

Download the Redundancy factsheet.

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Your super is generally preserved until you permanently retire after you’ve reached your preservation age. Your superannuation benefit can have up to three preservation components, which determine when you can access your superannuation:

  • The preserved amount is the part of your super you can take only if you meet a preservation cashing condition
  • The restricted non-preserved amount can be paid once your employment is terminated with an employer who contributes to QSuper 
  • The unrestricted non-preserved amount is cashable and available to be withdrawn at any time.

Your preservation age

The preserved amount of your superannuation can generally be cashed once you permanently retire after you reach your preservation age, or once you’ve satisfied another preservation cashing condition. You can find out more about other preservation cashing conditions in the QSuper Accumulation Account PDS.

Find out more about how your preservation age is determined.

There are a few different ways:

  • log in to Member Online and check your balance
  • order a superannuation benefit quote via Member Online
  • contact us.

If you haven’t used Member Online before, you can register online now. Just make sure you have your most recent benefit statement in front of you.

Talk to QInvest today for affordable and personal financial advice

As an Accumulation account member your account can stay with QSuper. It doesn't matter if you decide to look for further employment or retire, your benefit can be retained with us.

What if I’ve reached my preservation age?

If you’ve reached your preservation age and decide to retire, you may want to open an Income account. It’s an account-based pension product that allows you to use your superannuation benefit to generate an income stream in retirement. It may offer some tax advantages too. There’s more information in the Income Account PDS.

What if I want to find another job with another Queensland Government employer?

You should speak with your HR department about the specific conditions in your redundancy agreement, to see if you’re eligible. If you get the green light, your new employer will be able to contribute to your QSuper account.

What if I secure employment with an employer other than a Queensland Government employer?

Existing members can make QSuper their fund of choice – even if they're no longer working for the Queensland Government.2 You can ask your non-Queensland Government employer to make contributions to your QSuper account. Find out how to stay with QSuper by visiting our Changing jobs section.

There are some great advantages of staying with QSuper. For starters, you’ll be able to keep track of your super without having to move everything around. And, you’ll be able to take advantage of everything we have to offer, like:

  • great service from an award-winning superannuation fund
  • a range of products, including a variety of investment options and access to the transition to retirement option
  • our seminar program
  • access to financial advice3
  • death and total and permanent disability insurance
  • optional income protection insurance.

You can find out more in our Changing jobs section.

On 12 November 2008 the Queensland Government announced it was closing the QSuper Defined Benefit option to anyone who wasn't already a member of the Defined Benefit account at that date.

Under the legislation, current members with a Defined Benefit account are able to maintain their existing benefits until they decide to retire, transfer to an Accumulation account, or leave their current employment.

What if I’ve reached my preservation age?

If you’ve reached your preservation age and decide to retire, you may want to open an Income account. It’s a product that allows you to use your superannuation benefit to generate a tax-effective income stream in retirement. You can find out more in the Income Account PDS.

What if I have a Define Benefit and secure employment with another Queensland Government employer?

Generally, if you’re re-appointed to a Queensland Government or related entity employer within a month of leaving your old job, you may be eligible to continue your Defined Benefit account membership, provided you haven’t withdrawn any of your benefit from this account and your new Queensland Government or related entity employer provides for QSuper Defined Benefit account membership.

You’ll also need to inform your new pay office that your contributions should be paid to your existing Defined Benefit account.

If you have a current Defined Benefit account and you’re considering redeployment at a reduced grade of pay, this could reduce the superannuable salary used to calculate your benefit. If this occurs, you may be entitled to a salary reduction benefit, to recognise the benefit you accrued on the higher salary. You can find out more in the Defined Benefit Account Guide.

What if I don't secure paid employment with another Queensland Government employer and I’m not retiring?

If you leave employment with the Queensland Government your Defined Benefit account will be closed. You can choose how your benefit is transferred by completing a Defined Benefit Account Claim form. On the form you’ll be able to elect that you’ve accepted a redundancy or a retrenchment. And by providing a copy of the official correspondence from your employer confirming the circumstances and conditions under which you left employment, you may have access to your super.

If you’ve ever contributed to your Defined Benefit account at a rate of less than 5%, you may not have received your maximum multiple growth during this time. You may be able to catch-up the missed growth for periods where you’ve under- contributed. Depending on your circumstances you could consider doing this before leaving employment. For more information have a read through the Defined Benefit Account Guide. 

You can also find out more about your options in the following publications:

It really depends on the lifestyle you’re looking forward to. There are no precise rules, but by using our Retirement Income Calculator you’ll get a better idea of how much you’ll need and whether you’re on track.

Talk to QInvest today for affordable and personal financial advice

1. Conditions apply

2. In some circumstances, members may be ineligible to have their employer contribute to QSuper. Please check with your employer.

3. As a QSuper member, you have access to financial advice from QInvest Limited (ABN 35 063 511 580, AFSL 238274) which is ultimately owned by the QSuper Board (ABN 32 125 059 006 AFSL 489650) as trustee for QSuper (ABN 60 905 115 063). QInvest is a separate legal entity responsible for the financial services and credit services it provides. Advice fees may apply.