Annual report to members 2009 - QSuper - Queensland Government

Chairman’s reportby Bob ScheuberChairman of the BoardDespite the recent harsh economicoutcomes on investment returns, QSuperstrives to provide members with a solidgreat-value product.Our member-centric philosophy guideseverything we do, so we’re pleased toinform you that SuperRatings awardedQSuper a position in the top ten finalistsfor the SuperRatings Fund of the Yearaward. In addition, QSuper was alsoawarded SuperRatings top award, theSuperRatings Platinum award in 2009for both our Accumulation and QSuperPension accounts.An exciting new initiativeWe work hard to provide the bestpossible products and services to allof our members. Since 1 July 2009,eligible QSuper members have beenable to request their non-QueenslandGovernment employers to makesuperannuation contributions into QSuper.For QSuper members, this means they cancontinue their relationship with a fundthey have come to know and trust. Formore information on this exciting newinitiative please visit the QSuper website.RegulationAs you may be aware, QSuper hasbeen working towards becominga fund regulated by the AustralianPrudential Regulation Authority(APRA). QSuper has recently receivedits Registrable Superannuation Entitylicence from APRA which meansQSuper is now a regulated fund andsubject to the same CommonwealthGovernment requirements as most othersuperannuation funds in Australia.AcknowledgementsAfter dedicating ten years to guidingthe development of QSuper to meetmembers’ needs, Mr Gerard Bradleyresigned from the position as Chairman ofthe QSuper Board of Trustees on 31 May2009. On behalf of the Board, I would liketo thank Mr Bradley for his great work asChairman and his commitment to QSuper.On 1 June 2009, I was appointed as thenew Chairman of the QSuper Board ofTrustees. I joined the QSuper Board inDecember 2007 and was previously aTrustee from 1996 to 2001. I am honouredto be the new Chairman and thank myfellow Board members for entrusting mewith this position.On behalf of myself, Mr Bradley, and theBoard, I would like to thank Chief ExecutiveOfficer Rosemary Vilgan, the ExecutiveManagement team, and the staff ofQSuper Limited for all of their hard workthroughout this challenging year.The Board appreciates the support ofthe Auditor-General of Queensland andwould like to thank its major serviceproviders, including QIC Limited, Q Invest,Watson Wyatt, Ernst & Young, and theState Actuary.Looking aheadWe look toward the futurewith renewed excitement anddetermination to overcome anychallenges and reinforce ourposition as one of Australia’slargest superannuation funds.Our three-year strategic plan has justbeen finalised and, as a result, the comingyears will see QSuper undertaking arange of innovative measures to continuebuilding on our vision to improveretirement outcomes for its members. Thisvision encapsulates QSuper’s memberphilosophy, purpose, and core values ofbetter knowledge, great value, real service,and solid returns. It is the driver for thekey programs we will be implementingover the next three years. By undertakingthese programs QSuper will seek toenhance the member product and serviceoffer, proactively manage regulatorychange, and improve the efficiency andresponsiveness of its operating platform.QSuper will maintain its history ofinnovation and continuous improvementto ensure the Fund remains relevant andvalued by our members.Although the coming years will no doubtcontinue to bring many challenges, I amconfident QSuper faces these challengesfrom a position of strength. We are excitedabout the opportunities that lie ahead, aswe continue to reaffirm our commitmentto helping members prepare for a brighterfinancial future and cement QSuper’sposition as one of Australia’s largestsuper funds.Bob ScheuberChairman of the BoardQSuper Annual report to members | 3