Sunsuper Superannuation Fund (Sunsuper) was an Australian

public offer A public offering is the offering of securities of a company or a similar corporation to the public. Generally, the securities are to be listed on a stock exchange. In most jurisdictions, a public offering requires the issuing company to publish a ...

industry superannuation fund An industry superannuation fund (or, simply, 'industry fund') is an Australian superannuation fund originally established to provide for the retirement of workers from a specific industry. While industry funds are no longer tied to specific in ...

based in

Brisbane Brisbane ( ) is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most populous city in Australia and Oceania, with a populati ...

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , established_ ...

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

. It was established in 1987 as a multi-industry superannuation fund open to all workers and is profit-for-members. Sunsuper was the largest superannuation fund by membership in Queensland, with 1.3 million members and over 100,000 default employers. As at December 2020, it had more than A$79 billion in funds under management. On 28 February 2022, Sunsuper and

QSuper QSuper was an Australian superannuation fund based in Brisbane, Queensland. The fund was established in 1912 through an Act of Parliament. The State Public Sector Superannuation Scheme was also known as the QSuper Fund. The board of trustees of ...

merged to become the

Australian Retirement Trust The Australian Retirement Trust (ART) is an Australian superannuation fund headquartered in Brisbane, Queensland. With $230bn under management and over 2 million members, it is Australia's second-largest superannuation fund. History The Austr ...

History

Sunsuper was established in 1987. In 1997, Sunsuper reached its first A$1 billion in funds under management (FUM). By 2007, FUM had grown to A$13 billion. In February 2013, Sunsuper was awarded a

MySuper MySuper is part of the Stronger Super reforms announced in September 2011 by the Gillard Labor government for the Australian superannuation industry to replace the previous default funds system with a new default system using low cost and simple ...

authority. In November 2015, Sunsuper appointed new CIO - Ian Patrick. In April 2017, Sunsuper and Kinetic Super announced a merger. In March 2018, Sunsuper signed up for the Insurance in Superannuation Voluntary Code of Practice - to be compliant from 1 July 2018. In March 2019, Sunsuper and AustSafe Super merged. In April 2019, Sunsuper merged with CBH Super. In May 2019, long-time CEO Scott Hartley stepped down after 5 years at the helm. In October 2019, Bernard Reilly was appointed as the new CEO of Sunsuper. In November 2020, the IAG & NRMA Superannuation Plan merged with Sunsuper. In March 2021, Sunsuper and QSuper announced a merger. Sunsuper and the Australia Post Superannuation Scheme (APSS) announced they will explore a merger. On 28 February 2022, the merger of QSuper and Sunsuper to become

was finalised.

Governance

Sunsuper is run by a Trustee company called Sunsuper Pty Ltd. The Board of the trustee has equal representation of independent directors, member representatives and employer representatives. Three directors are appointed by the Queensland Chamber of Commerce and Industry Ltd, two directors by the

Queensland Council of Unions The Queensland Council of Unions (QCU) is a representative, an advocacy group, or peak body, of Queensland trade union organisations, also known as a labour council, in the Queensland, Australia. As of 2020, 26 unions and 13 regional branches w ...

and one director by the

Australian Workers' Union The Australian Workers' Union (AWU) is one of Australia's largest and oldest trade unions. It traces its origins to unions founded in the pastoral and mining industries in the 1880s and currently has approximately 80,000 members. It has exer ...

of Employees, Queensland. The independent directors are appointed by the Board following nomination by either the member or employer representatives. The Chairman of the Board is appointed for a two-year term and this position is rotated between the employer and the member representative directors. The normal term of appointment for a director is three years and may serve a maximum of four terms. The Board is responsible for managing the fund, and ensures it operates in the best interests of all members and continues to comply with all legal requirements. Sunsuper's shareholders and sponsors are Queensland Chamber of Commerce and Industry Ltd, the Queensland Council of Unions, and the Australian Workers' Union of Employees, Queensland.

Administration

Sunsuper owns and controls its fund administration. Insurance cover for members is provided through group life policies with insurers such as AIA Australia Limited.

Investments

Sunsuper manages its investments through a combination of in-house management and oversight of more than 40 external investment managers in Australia and major financial centres around the world. In June 2008,

Mercer Mercer may refer to: Business * Mercer (car), a defunct American automobile manufacturer (1909–1925) * Mercer (consulting firm), a large human resources consulting firm headquartered in New York City * Mercer (occupation), a merchant or trader, ...

was appointed as Sunsuper's investment consultant. The contract was renewed for another three years in 2011. Custodial services are provided by State Street Australia Limited.

Awards

* 2020 Fund of the Year, Chant West * 2020 Fund of the Year, SuperRatings * Best Super Fund – Growth for 2019, Finder * Best Super Fund Manager 2018 & 2019, Money magazine * Best Featured Pension Fund 2017, 2018 & 2019, Money magazine & Pension Fund of the Year 2018, SuperRatings * Fund of the Year 2018, Chant West, SuperRatings & Super Review * Fund of the Year 2017, Chant West * Best Super Fund - Growth, Finder * Best Fund: Advice Services & Corporate Solutions Fund of the Year 2018, Chant West

Annual sponsorships

Dreams for a Better World
$150,000 community grant program for Australian-based community groups and not-for-profit organisations.
Sunsuper Riverfire
Brisbane based public fireworks event.

References

{{reflist Australian companies established in 1987 Financial services companies established in 1987 Superannuation funds in Australia Companies based in Brisbane