Sunsuper
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| Private | |
| Industry | Superannuation |
| Founded | 1987 |
| Headquarters | Brisbane, Australia |
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Area served
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Australia |
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Key people
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Ben Swan, Chairman of the Board, Scott Hartley, Chief Executive Officer, Brian Parker, Chief Economist, Ian Patrick, Chief Investment Officer |
| Website | www |
Sunsuper is a public offer super fund company based in Brisbane, Queensland, Australia. It was established in 1987 as a multi-industry superannuation fund to cater for all workers. With more than A$42 billion in funds under management and over one million members, Sunsuper is the largest superannuation fund by membership in Queensland, and is one of the fastest growing nationally. Over 100,000 employers pay contributions (money) into Sunsuper on behalf of their employees.
As a ‘profit-for-members’ fund, Sunsuper exists solely for the benefit of its members. It does not pay dividends to its shareholders, rather it reinvests profits into improving the fund's products and services with a focus on reducing fees and increasing investment performance over the long term.
On 14 February 2013, Sunsuper was announced as the first superannuation fund in Australia to be awarded a MySuper authority. The Minister for Financial Services and Superannuation Bill Shorten said he congratulated Sunsuper for being an industry leader.
In April 2017, Sunsuper and Kinetic Super announced their intentions to join forces to create a $45 billion superannuation scheme with 1.3 million members. In only the second merger in Australia's highly fragmented $2.1 trillion retirement savings sector to be unveiled this year, it is a rare example of trustees recognising the benefits to members from economies of scale.
Sunsuper Pty Ltd is the Trustee of the Sunsuper Superannuation Fund and has a Board of Directors with equal representation between independent directors, member representatives and employer representatives. 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. Three directors are appointed by the Queensland Chamber of Commerce and Industry Ltd, two directors by the Queensland Council of Unions and one director by the Australian Workers' Union 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. Further details of the Board are available here.
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Wikipedia