Most of us take superannuation for granted, but not many are aware of how it all began. In Queensland, super started with an Act of Parliament in 1912 creating the Group we now know as QSuper.
Super wasn’t compulsory then like it is now, and it was only available to a small number of Queensland Government employees – full-time, salaried teachers, administrative clerks, and other white-collar workers. But it was a start.
Over time, QSuper expanded to become the superannuation fund for all current and former Queensland public sector employees and their spouses.
QSuper is now Queensland’s largest super fund and one of the largest in Australia.1 We’ve expanded our range of products and services and grown our customer base to more than 585,000 with over $113 billion in funds under administration.2
For more than 100 years, Queensland Government workers have enjoyed all the benefits of being with QSuper. With the passing of legislation in 2016 that removed the restrictions on who is eligible to join the Fund, we’re able to welcome more Australians to experience the QSuper feeling from 1 July 2017.
QSuper doesn’t have shareholders, so we’re all about our members. Our members can feel better about their super today, knowing we’ve delivered low fees and consistently strong returns with smoother ups and downs along the way.3 We continue to innovate to ensure all our members – old and new – can feel good about their future.
1. Australian Prudential Regulation Authority (APRA) Annual Fund-level Superannuation Statistics June 2016 edition (issued 1 February 2017).
2. Funds under administration as at 30 June 2019. Net assets include the retirement funds managed by QSuper and employer-sponsor receivables for Defined Benefit members managed and held by Queensland Treasury.
3. SuperRatings Fundamentals report as at February 2017. This finding is based on the industry average measures for $50,000 invested in the QSuper’s Accumulation account Balanced Investment option using the actual net returns and fees from the current product disclosure statement when we printed the report. It doesn’t include the cost of insurance. SuperRatings does not issue, sell, guarantee or underwrite this product. Past performance is not a reliable indicator of future performance. When making decisions about the product you should consider things like fees, the services and benefits offered and long-term performance.