In a bid to retain members, not-for-profit superannuation fund QSuper will allow contributions by non-Queensland government employee members and their spouses for the first time.
QSuper is the superannuation fund for the Queensland government and other government businesses. It currently has more than 500,000 members, of which nearly half are no longer employed by the Queensland government.
Previously, members were unable to continue employer contributions after leaving employment in the Queensland government.
"This service allows our members to move from the public sector to the private sectors and still utilise the great value that we offer," QSuper chief executive Rosemary Vilgan said.
"Our members have expressed interest in having more control over their retirement benefits by keeping their super in one easy to manage account."
In a bid to further strengthen its member base, QSuper is also seeking to become a regulated fund and has been building up its internal investment committee.
Last month QSuper Limited, QSuper's wholly-owned administration company, successfully secured an Australian Financial Services Licence.
QSuper is currently seeking a chief financial officer to guide the fund through this process.
"Challenges will include the development of new finance management structures and frameworks, ensuring compliance with sound corporate governance," QSuper said.
This year, QSuper appointed former QIC head of alpha Charles Woodhouse as general manager of funds management and former QIC deputy chief executive Brad Holzberger as chief investment officer.
In late 2008 the industry fund also added three specialist members, including former QIC chief executive Ian Macoun, to its investment committee to help the QSuper board of trustees manage its investments.
