Fairfax Media has today reported that the Queensland Liberal/National Party Government has appointed the wife of Shadow Treasurer, Joe Hockey to the board of the superannuation fund covering Queensland public servants - Qsuper.
Hockey’s wife, a former Deutsche Bank executive which the report described as a “self-made millionaire”, will receive a $45,000 fee for filling the trustee director position.
The report said Queensland Treasurer Tim Nicholls had gazetted Ms Babbage’s appointment in mid-June but had not publicly announced the move.
Babbage is a non-executive director of Swiss Re Life and Health Australia Ltd.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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