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Home > About us > Corporate governance > The Board

The Board

Board responsibilities

The QSuper Board is responsible for the operation of QSuper, including the creation and implementation of its strategic plan, the formulation and oversight of its investment strategy, and the development and delivery of its membership offer.

The Board works closely with its major partners. These include its principal investment and asset consultant – QIC, its asset consultant – Watson Wyatt, its financial planning provider – Q Invest, and its audit partners – the Queensland Audit Office (external audit) and Ernst & Young (internal audit), to ensure QSuper strengthens and maintains its position as a leading superannuation fund.

The Board delegates the day-to-day administration of QSuper to the Chief Executive Officer and Executive management team in QSuper Limited. However, the Board retains responsibility for the operation of QSuper and receives regular reports from QSuper Limited's management. The Board has procedures in place to ensure that the Executive management team is appropriately qualified and experienced to discharge their responsibilities.

QSuper Limited undertakes the daily administration of QSuper, involving over 400 staff, to provide member information and education services (including a Contact Centre, the website, publications, and a seminar program), to process member and employer contributions, maintain member account records, assess benefit claims and process benefit payments, develop the membership offer, complete scheme financial reporting, and provide secretariat services to the Boards.

Composition of the Board and appointments

The Board is established under the Superannuation (State Public Sector) Act 1990 (pdf) - QSuper Act. In accordance with the Superannuation (State Public Sector) Amendment Regulation No.1 2007, the prescribed number of Trustees is twelve, comprising equal employer and member entity representation.

To achieve the Board's prescribed membership, six people are nominated by the Queensland Government to be the employer representatives. Of the six entity representatives, one is nominated by the Australian Workers’ Union, Queensland, and the remainder by the Queensland Council of Unions. The Under Treasurer, one of the employer representatives, is Chair of the Board. Trustees serve on the Board for a term of up to three years, after which they may be nominated to accept reappointment.

The current Trustees/Directors are:

Meetings

The Board meets on a regular basis. During the 2007/2008 financial year, eleven meetings were held.

The Secretary to the Board is the QSuper Limited Chief Financial Officer.

Board performance

The Board has implemented a process for the periodic review and evaluation of its performance and the performance of its committees.

Remuneration

The Treasurer, as Minister, determines the Trustee remuneration in consultation with the Board. Board fees are increased annually in line with the Consumer Price Index (CPI). Board members who are also government employees are not remunerated for their Board duties.