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.
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.