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New Chief Executive For WorkCover Queensland

06 June 2024Mr Michael Pennisi has been appointed as the new Chief Executive Officer of WorkCover Queensland commencing 18 June 2024.Mr Pennisi has

QSuper's dismal return its greatest success

Data reveals more than $81.4m in lost super across CQ

QSuper and Sunsuper Merge Into Australian's Largest Superannuation Fund

QSuper and Sunsuper Merge to Create Australia’s Largest Retirement Fund QSuper and Sunsuper have agreed to merge, after 15 months of negotiations, to become a single superannuation fund, making it Australia’s largest. The move, announced on March 15, aims to integrate the two top-performing funds into a new entity with two million members and $200 billion in assets. QSuper Chair Don Luke and Sunsuper Chair Andrew Fraser said the agreement would pave the way to create “an organisation of world-class capability” with the scale to deliver “outstanding services, greater efficiencies, and lower costs for members.” “The combination of QSuper’s public sector heritage in Queensland and Sunsuper’s national employer base, combined with a commitment to partnering with external financial advisers, will create a diversified and resilient organisation investing on behalf of 2 million members,” the two entities said in a joint statement (pdf).

Australia Pensions Ink Deal to Create $155 Billion Fund

(Bloomberg) Two of Australia’s largest pension funds moved a step closer to creating a A$200 billion ($155 billion) giant as the world’s fourth-biggest pension pot consolidates.QSuper and Sunsuper Pty. have signed a deal to merge, the two funds said in a joint statement Monday. The Brisbane-based funds will combine by September to create the country’s second-largest pension fund.“This historic agreement will pave the way for the creation of an unquestionably strong superannuation fund with the scale to deliver outstanding services, greater efficiencies and lower costs for members,” according to the statement.Australia’s A$3 trillion pension industry is consolidating amid increased scrutiny of under-performing funds and growing pressure to cut fees and boost returns. Tasplan and MTAA Super will combine into a A$23 billion fund by the end of this month, while Construction & Building Unions Superannuation and Media Super will merge by year&