Sunsuper is a public offer super fund company based in Brisbane

Brisbane

Brisbane is the capital and most populous city in the Australian state of Queensland and the third most populous city in Australia. Brisbane's metropolitan area has a population of over 2 million, and the South East Queensland urban conurbation, centred around Brisbane, encompasses a population of...

, Queensland

Queensland

Queensland is a state of Australia, occupying the north-eastern section of the mainland continent. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean...

, Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

. It was set up in 1987 as a multi-industry superannuation fund to cater for virtually all workers. With over one million members, Sunsuper is the largest superannuation fund in Queensland, and is one of the top ten in Australia. Over 67,000 employers pay money into Sunsuper funds. As at 1 September 2011 Sunsuper was looking after over A$17 billion for its members.
Sunsuper is classified as a "not for profit" fund, which means it operates solely for the benefit of members and not for others, e.g. shareholders. It is sponsored by Commerce Queensland, the Queensland Council of Unions

Queensland Council of Unions

The Queensland Council of Unions is a representative body of Trade union organisations, known as a Labour council, in the State of Queensland, Australia...

, and the Australian Workers' Union

Australian Workers' Union

The Australian Workers' Union is one of Australia's largest and oldest trade unions. It traces its origins to unions founded in the pastoral and mining industries in the 1880s, and currently has approximately 135,000 members...

.

Sunsuper Pty Ltd is the Trustee of the Sunsuper Superannuation Fund and is managed by a Board of Directors with equal employer/member representation. Three Directors are appointed by Commerce Queensland; two by the Queensland Council of Unions and one by the Australian Workers' Union. 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 current Chairman is Graham Heilbronn.

Fund Management

Investments are outsourced to many of the major investment managers in Australia and overseas. Insurance cover for members is purchased from insurers such as AIA. A professional custodian, National Custodian Services, holds the bulk of the money managed for members. Sunsuper does not pay and accept commissions

Commission (remuneration)

The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people. Payments often will be calculated on the basis of a percentage of the goods sold...

to anyone for the provision of services or the acquisition of business.

Customer base

There are two main types of customers at Sunsuper. Firstly, the employers who pay contributions to the Fund on behalf of their employees, and secondly, Sunsuper members. Changes to the way super works means that most people can now select their own super fund and ask their employer to use it for them. Currently, over 67,000 employers pay money into Sunsuper.

External links

• Sunsuper
• Sunsuper - the multi-industry fund. Sunsuper.com.au.
• Sunsuper Expands its Use of SunGard’s Omni to Enhance Retirement Administration Operations.
• Corbett, Charlie. Heron hands out 2007 star ratings. Investor Daily. 5 February 2007. Retrieved on 2008-01-17
• Sunsuper celebrates twenty years. Sheen, Andrew. Global Pensions. 19 October 2007.
• Sunsuper cracks $13 billion. Super Review. Taylor, Mike. 23 October 2007.