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Annual Report 2005-06

• Annual Report 2005-06 home
• About this annual report
• Key performance achievements
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• Our outputs
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  • Superannuation
  • Shared service implementation
• Engaging our stakeholders and the community
  • Count Indigenous communities in for Census 2006
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  • Super seminar boosts women's wealth of knowledge
  • Responsible gambling committee celebrates 10 years of service
  • Building a better health system through engagement
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Superannuation output

The Government Superannuation Office is responsible for delivering the superannuation output. This includes providing advice, products, services and administration of legislation relating to the management of superannuation for Queensland public sector employees.

The Government Superannuation Office administers the QSuper Fund (State Public Sector Superannuation Fund), the Parliamentary Contributory Superannuation Fund and the pension entitlements of judges.

This output reports on managing the State's superannuation investments and reserves through QSuper and assisting members in financing their future by providing financial security for retirement.

Vision

As a leading Australian superannuation fund, QSuper will be recognised for our contribution to the quality of each member's life through low fees, real service, better knowledge and solid returns.

Highlights

• Introduced new products and services including transition to retirement and contribution splitting, and legislative changes including dollar fee disclosure and transactional history reporting.
• Implemented specific communication and educational initiatives for female members.
• Delivered campaigns to assist members in building retirement savings.
• Rolled out a standard desktop environment for a more stable and secure IT platform.

Structure

• Under Treasurer, Gerard Bradley
  • Deputy Under Treasurer, Tim Spencer
    • Chief Executive Officer, Rosemary Vilgan
      • Chief Strategy Officer, Don Kofoed
        • General Manager, Governance, Lyn Melcer
        • General Manager, Investment Services, Sonya Sawtell-Rickson
        • Acting General Manager, Fund Development, Bruce Hassed
      • Acting Chief Operating Officer, Anne Murchison
        • General Manager, Operations, David Wood
        • General Manager, Insurance Management, Barry Cook
        • Acting General Manager, Member Services, John Sawtell-Rickson
      • Chief Financial Officer, Cliff Kaye
        • Acting General Manager, Information and Communications Technology, Peter Wardrop
        • General Manager, Finance, Peter Lockington
        • Manager, Human Resources and Administration, Donna Wright
        • Manager, Business Solutions, Graham Smith
        • Manager, Portfolio Management Office, Debra Mitterer

Output performance highlights

Output performance highlights

Measure	Target	Actual
Quantity
Percentage of members who elect to retain their voluntary monies with QSuper	70%	75%
Quality
Satisfaction of stakeholders with the delivery of products and services	[1] 100%	[1] 96%
Percentage of external audits resulting in no qualifications	100%	100%
Timeliness
Meeting the performance benchmarks contained in the QSuper Board of Trustees' Administration Mandate and other agreements in place for the administration of funds other than QSuper	95%	96%
Cost
Administration costs per member are within the lowest quartile when benchmarked to peers	100%	100%

1. The target estimate for the 2005-06 financial year was revised from 100 per cent to 93 per cent, as higher quality data has been available to determine the most appropriate reporting measure.

Highlights

Highlights for the superannuation output

Strategic business priority	Highlights	The year ahead
Reposition and enhance the QSuper brand by focusing on brand and product attributes.	Delivered joint education initiatives and key event sponsorships in partnership with QIC and Q Invest.	Further develop public relations initiatives. Continue to deliver specialised joint education initiatives with QIC and Q Invest.
Focus on core superannuation offering to support members in their goals to attain the retirement lifestyle they deserve.	Commenced member contact tracking project to record member contacts and improve service and effectiveness of campaigns. Introduced new products and services, such as providing options for members to access their superannuation before they retire. Implemented legislative changes including dollar fee disclosure and transactional history reporting. Reviewed insurance offering to members, reducing some premiums and increasing some benefits.	Implement member contact tracking system. Continue to investigate and implement new products and services, including the implementation of legislative changes arising from the 2006-07 Commonwealth Budget. Implement new insurance arrangements for members.
QSuper to be recognised as the leader in providing members with superannuation and general financial education.	Redeveloped website to make it more member-focused and innovative, and introduced an education module to the website including educational tours and new calculators. Started targeted communication strategy aimed at members when they turn 50 years of age.	Develop a joint research program with a university to measure and track financial literacy. Extend targeted communication strategy to members who turn 35 years of age, and one- and 10-year anniversary members.
Maintain QSuper's presence in the industry as a leading superannuation provider and industry expert.	Implemented specific communication and educational initiatives for female members. Segmented key publications into over 50s and under 50s age groups. Delivered campaigns to assist members in building retirement savings.	Continue female-focused strategy with newsletter and seminars. Continue to investigate new opportunities for segmenting publications and campaigns. Increase member use of online technologies including an internet-based account system.
Upgrade technology and premises to support the implementation of all strategic business priorities.	Rolled out a standardised desktop environment for a more stable and secure IT platform.	Investigate accommodation options for the future growth of QSuper. Consolidate QSuper's server and storage network.

Key issues facing the output

• Implementing changes to superannuation arising from the 2006-07 Commonwealth Budget.
• Continuing to address the financial education needs of members.
• Accommodating a growing organisation.
• Investigating and introducing new product options that suit the needs of members.

Visits to QSuper website

Analysis: QSuper's redeveloped website has proved popular with members. Website visits were up 36 per cent on 2004-05.

Strategic business priorities

• Building QSuper's profile through public relations initiatives

  Throughout 2005-06, we provided information to key industry journals as part of our public relations initiatives. In the year ahead, we will extend our public relations initiatives to mainstream media to build QSuper's profile.

• Delivered joint education initiatives and key event sponsorships

  In 2005-06, we delivered joint education initiatives and key event sponsorships in partnership with QIC and Q Invest. This partnership included conducting an annual investor update seminar to give members a report on their superannuation investment. We also co-sponsored the Queensland Secondary Principals' Association conference with Q Invest to reach members in the education sector.

  In the year ahead, we will inform our members through joint education seminars with QIC on the 2006-07 Commonwealth Budget changes and how these changes may affect members.

• Developing a member contact tracking system

  In 2005-06, we started to develop a member contact tracking system to record member contacts and to improve our services and the effectiveness of our campaigns. Plans are under way to implement the system in 2006-07.

• Introduced new products and services for our members

  We introduced new products and services for our members. These products and services included providing options for members to access their superannuation before they retire and allowing members to split some of their super contributions with their spouse. We also implemented legislative changes including dollar fee disclosure and transactional history reporting.

  In the year ahead, we will implement legislative changes arising from the 2006-07 Commonwealth Budget. This Budget included a proposal to simplify superannuation, which, if implemented, will offer significant benefits to QSuper members.

• Reviewed our insurance offering to members

  We reviewed our insurance offering to members, resulting in lower premiums for some of our insurance policies and increased benefits for our members. From 1 July 2006, we will implement new insurance arrangements for members. These new arrangements include:

  • income protection and death and total and permanent disability (TPD) insurance to age 65 (previously age 60)
  • death-only insurance to 70 years
  • increased benefits for death and TPD
  • lower premiums for income protection.

  Members will also now have the opportunity to opt out of insurance if it does not meet their needs.

• Provided easy access to information

  Our redeveloped website is more member-focused and innovative. We also added an education module to incorporate educational tours and new calculators. New educational tours provide members with information on super and non-super financial topics including understanding superannuation, insurance, investment, and debt management. Our super health check calculator allows members to see if they are on track for their retirement goals and, if not, consider options to address this.

• Educated members about retirement savings

  We introduced a targeted communication strategy aimed at members turning 50 years of age. QSuper recognises many members at this age are approaching retirement and so appreciate the benefits of making sure they are financially prepared. QSuper has started to send communication to members as they reach this age to help them consider their financial situation.

  In 2006-07, we are extending this targeted communication strategy to members who turn 35 years of age, and one- and 10-year anniversary members. These are key points in our members' lives where we can help them make the most of their superannuation.

• Conducted seminars for Queensland women

  We implemented specific communication and educational initiatives for Queensland women to address the particular challenges women face when saving for retirement. In conjunction with the Office of Women, we held 'Women and super' seminars in Brisbane, Cairns, Townsville, the Sunshine Coast and Toowoomba from March to May 2006. These seminars were supported by a printed action plan and online educational tour. In 2006-07, we will continue to organise tailored seminars and develop newsletters for our female members.

• Tailored newsletters reach different age groups

  We segmented key publications into over 50s and under 50s age groups, continuing the preliminary work completed in 2004-05. Our launch of segmented members' newsletters - Your future for under 50s and Financing your future for over 50s - allow for more relevant, tailored communication to members. We also segmented Super Scoop,, our annual report to members.

• Ran campaigns to assist members in building retirement savings

  We delivered campaigns to assist members in building retirement savings including:

  • targeted campaigns for over 50s members
  • a reminder campaign to members who made spouse contributions in the previous financial year
  • an educational campaign to members considered at risk of leaving QSuper in favour of self-managed superannuation funds.

• Rolled out new IT platform

  In 2005-06, QSuper rolled out a standard desktop environment for a more stable and secure IT platform. To do this, we analysed the user needs of more than 350 staff and trained staff on new hardware and software. In addition to the new platform, we commenced consolidating the server and storage network to deliver improved server performance and capacity for server-based information systems across the organisation.

• Investigated options to accommodate our growing organisation

  We investigated accommodation options for the future growth of QSuper. The organisation is currently split over two locations in Brisbane. Our aim is to consolidate to one site to increase efficiency and streamline processes.

Last reviewed 29 September 2008

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