All Queenslanders will be able to be a member of QSuper from 30 June, 2017 after the legislation to lift the member requirement restriction was passed by the State Parliament today.
The superannuation fund said it was now focused on working with regulators to secure appropriate licencing to become an open fund.
Currently the fund is only open to current and former Queensland public sector employees or their spouses.
QSuper chief executive, Michael Pennisi, said the fund was focused on helping their members reach their financial goals now and into retirement.
"This is an exciting time for the fund and its members. We have long had members' family and friends keen to access our strong long-term returns as well as personalised solutions and low fees — and soon we will be available to them," he said.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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