[PDF] Super Scoop 2001 - QSuper - Queensland Government

QSuper Board of Trustees
Standing (left to right):
Merv Bainbridge (Deputy), Michael Goode (Deputy),
Terri Hamilton, Chris Barrett, Mary Montgomery,
Helen Ringrose, Merv Vining.
Sitting (left to right):
Karen Peut, Gerard Bradley,
Steve Ryan.
Despite the rapid swings in
stock market indices, Queensland
Investment Corporation (QIC)
performed well compared to the
managers of other funds similar to
QSuper. The details of this year’s
investment returns, in what has been
a volatile year, are on page 6.
The QSuper Board remains pleased
with QIC’s performance and
understanding of our members’
needs, and also the strong relationship
they have developed with
members during the 10 years they
have managed QSuper’s funds.
A year of choice
One of QSuper’s strengths is its
flexibility and the options it provides
to members. This past year has seen
members able to choose the style of
account and the type of investments
their money is placed in. Many
Accumulation account members have,
for the first time, been able to choose
to contribute their own money into
QSuper in return for a higher payment
from their employer. In fact, almost
15% of these members have chosen
to do just that during the year.
Among the best in the world
During the year, QSuper took
part in a study of 35 very large
international superannuation funds,
including four from Australia.
QSuper ranked extremely well,
being placed in the top quarter for
most cost and service measures,
and was awarded the number one
ranking internationally in the website
category! This was an outstanding
result and one that all members
should take great confidence in.
Solid and secure
I am aware that recent corporate
developments, and the publicity
surrounding them, have concerned
some of our members. Members
should remain confident in the size
and security QSuper offers them.
QSuper’s funds are spread across
an enormous range of investments;
QSuper’s accounts are audited
annually by the Auditor General;
and the State Actuary regularly
reviews QSuper’s funding position.
As one of Australia’s largest funds,
with more than 375,000 current or
former employees of the Queensland
Government as members, you can be
confident your money will be there to
finance your future.
•
Acknowledgements
This year saw the departures of Glenn
Poole and John Thompson from the
QSuper Board. Glenn chaired the Board
for 10 years in his capacity as deputy for
the Under Treasurer and John served as
a member representative and deputy
from 1993.
On behalf of the QSuper Board, I would
like to thank Glenn and John for their
valuable contributions to QSuper and
wish them well for the future.
I would also like to welcome Chris Barrett
to the Board. Chris was appointed on
12 April 2001 as a member representative.
The organisations that supported
the Fund throughout the year also
deserve recognition. In particular,
the Board greatly appreciates the
assistance provided by the Government
Superannuation Office, Queensland
Investment Corporation, QsInvest Limited
and the State Actuary.
•
SUPERSCOOP Contents
Year in review 2
Security, size, flexibility - and a price you can’t beat 4
How have investments shaped up over 6
the last 12 months?
Either way you look at it, you benefit from low fees12
Super answers for super questions 14
Will you be ready for retirement? 16
With over 160 seminars, QSuper is 19
coming to see you more often!
Expertise to keep your super growing 20
QSuper’s range of accounts 22
$4.5 billion in lost super... is some of it yours? 22
Financial highlights 23
QSuper 2001 Annual report to members SUPERSCOOP 3