QSuper Superannuation

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QSuper is one of Australia’s largest super funds and is now open to all Australians. The profit-for-members fund offers accumulation and retirement income accounts, financial advice and insurance options.

Types of QSuper accounts

QSuper offers an accumulation account with a range of investment options, as well as a transition to retirement income account and a retirement income account.

The investment choices available under QSuper’s accumulation account include:

  • A default ‘Lifetime’ option tailored to the member’s life stage
  • Four ‘Diversified’ and four ‘Single Sector’ options which members can mix and match
  • A ‘Self Invest’ option where members can invest in shares listed on the ASX 300, a range of exchange traded funds (ETFs) and term deposits, to create their own strategy.

QSuper members can choose to invest their super in one or a mix of these options to suit their preferences.

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Eligibility to join QSuper

QSuper has no minimum age limits for members joining the fund if they are looking to start an accumulation account, meaning anyone can become a QSuper member.

The fund became open to the public on 1 July 2017, although it has been operating for more than 100 years serving Queensland Government employees.

This means that regardless of whether you work in the private or public sector, you can join QSuper.

How to join QSuper

You can apply to join QSuper in a number of ways:

  • Visit its website
  • Join via the phone
  • Call into one of the Member Centres listed on the QSuper website

Be sure to compare super funds on the Canstar website and check our choosing a super fund checklist before signing up for a particular superannuation account.

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QSuper FAQs

Yes, QSuper has a dedicated online portal where members can view their account balance online, access account statements, download super fund information, make changes to their investment and insurance preferences and more.

QSuper provides 10 different investment options for members to choose from, including:

  • Lifetime – the MySuper default product available under Accumulation accounts.
  • Moderate
  • Balanced
  • Socially Responsible
  • Aggressive
  • Cash
  • Diversified Bonds
  • International Shares
  • Australian Shares
  • Self Invest (self-directed investments)

With Self Invest, members can invest in shares listed on the ASX 300, a range of Exchange Traded Funds (ETFs) and term deposits to create their own strategy.

When choosing an investment option, it is important to take into account your investment time frames and goals, and your personal risk tolerance for market fluctuations.

At the time of writing (19/04/2020) QSuper charges annual fees based on your total balance. This includes:

  • an administration fee of 0.16% of your account balance
  • investment fees
  • an indirect cost ratio, depending on your investment choice.

(The investment fee and indirect cost ratio are based on the fees and costs for the financial year ended 30 June 2019. The total fees and any other applicable fees are deducted daily from the unit price before the unit price is declared and may differ from future fees and costs.)

The total annual fees – including administration and investment fees and indirect cost ratio – range from 0.22% to 1.06%. The total annual fee for the Balanced option is 0.83%.

QSuper says it does not charge transaction or switching fees.

Compare QSuper’s fees to the average super fund fees on our database, as fees are an important consideration when selecting a fund.

Yes, QSuper offers a consolidation service for its members.

Before you consolidate your super, you should check with your other super funds if there are any fees or tax implications, or loss of insurance or other benefits. You can contact QSuper directly for further information.

QSuper says financial advice is available over the phone on specific topics related to its accounts. For more comprehensive financial advice, members may book an appointment with QInvest, an entity of the QSuper Group.

Please note that QInvest Limited (ABN 35 063 511 580, AFSL 238274) is a separate legal entity responsible for the financial services it provides. The administration fee covers the provision of advice about your QSuper Accumulation and/or Income account, when you receive personal advice from QInvest.  Eligibility conditions and advice fees may apply. Refer to the Financial Services Guide for more information.

QSuper was established more than 100 years ago and is one of Australia’s oldest and largest super funds.

It currently has more than 585,000 members and $113 billion in funds under administration as at 30 June 2019 (net assets include the retirement funds managed by QSuper and employer-sponsor receivables for Defined Benefit members managed and held by Queensland Treasury).

Written by: Tim Smith | Last updated: June 24, 2020