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The history of Sunsuper

 

We started with humble beginnings in 1987 with just a handful of people and little more than a genuine desire to give members the most financially comfortable retirement possible. Thirty years later, we are proud to look after $58 billion* in retirement savings of 1.3 million members.

As a national brand and one of Australia’s largest and fastest-growing super funds, it is our size, scale, expertise and experience that ensures our members' super and retirement are in the best possible hands.

Our profit-for-members philosophy means our customers can take advantage of low administration fees and a broad range of super, personal insurance, financial advice, and retirement services designed purely for their benefit. Sunsuper also assists more than 100,000 employers across the nation to manage their super obligations through a range of products and services that are designed for ease and efficiency.

Today, Sunsuper has more than 650 employees located in offices right across the country. We exist solely to help members achieve their retirement dreams and make it easy for our business clients to understand and manage their super obligations. We operate only to benefit our customers, meaning we don’t charge high fees, nor do we pay dividends to shareholders or commissions to financial planners. Unlike many other funds, we control and manage all our administration and customer service in-house, and this ultimately results in increased efficiency for clients and lower fees for our customers.

Our employees

Sunsuper has employees located in Brisbane, Sydney, Melbourne and Perth. We also have teams of regional and key account managers based in Cairns, Townsville, Mackay, Gladstone and the Sunshine Coast. These officers manage the relationships between Sunsuper and our members and their employers in these locations. We also have a team of business development managers whose primary role is to grow our business in the corporate and institutional superannuation sector.

These employees are supported by the large teams who work in our Customer Service Centre. These teams provide a telephone-based service for employers and members, taking over 500,000 calls a year. We also have a team of financial planners in our Member Advice Centre, or the MAC as it is commonly known, who offer members free financial advice over the phone about their super,

All these people are then supported by teams of People, Investments, IT and Technology, Compliance and Legal, Administration, and Customer Experience and Insights specialists.

Our customers

Sunsuper has two main types of customers. Firstly, the employers who elect to pay contributions to Sunsuper on behalf of their employees, and secondly, employees, or members - all of whom come from a wide variety of industries. Some of our more well-known corporate clients include Virgin Australia, Domino’s Pizza, Bluescope Steel Australia, Goodman Fielder, Unilever, and PWC.

Behind the scenes

Sunsuper is sponsored by Chamber of Commerce and Industry Queensland, the Queensland Council of Unions and the Australian Workers Union. Sunsuper Pty Ltd is the Trustee of the Sunsuper Superannuation Fund and is managed by a board of directors comprised of an equal number of member, employer and independent representatives. The current Chair (2018) is Andrew Fraser.

In October 2008, administration business, CSA Retirement Services, was purchased by Sunsuper and now operates as a wholly owned subsidiary of the company. As part of the acquisition, CSA Retirement Services was renamed Precision Administration Services and operates as an entity of Sunsuper Pty Ltd.

In 2015, Sunsuper announced a strategic alliance with world’s largest mutual investment manager, the Vanguard Group. The alliance gives Sunsuper direct access to Vanguard’s investment management expertise, plus the ability to draw on a broad range of functions including member services, product development, digital and technological development, and economic and market insights.

Sunsuper outsources investments to many of the major fund managers in Australia and overseas. Sunsuper buys insurance protection from insurers such as AIA and Metlife. A professional custodian, State Street Australia Ltd, holds Sunsuper’s assets.

Sunsuper does not pay commissions to anyone for the provision of services or the acquisition of business. Nor do we accept commissions.

Products and services

Sunsuper offers a full range of top quality super, personal insurance, and retirement services for members and employers.

Sunsuper is one of the country’s most awarded super funds receiving Money magazine's Best Super Fund Manager 2018 award, Conexus Financial's 2018 Fund of the Year award and the highest ratings possible from a number of independent agencies including Chant West, SuperRatings, and Selecting Super. We have also held a SuperRatings’ Platinum rating for the last decade, and been awarded Chant West’s Super Fund of the Year 2018, Best fund: Advice Services 2018, and Corporate Solutions Fund of the Year 2016-2018. 

Sunsuper’s contact centre has been consistently recognised for its industry-leading customer service. In 2017 we received the Customer Service Institute of Australia's Service Excellence in a Large Business Award for our strong customer service culture, commitment to quality, consistent delivery, and solid performance. This award complements our Service Excellence in a Medium Contact Centre (under 100 employees) Awards for 2014-2016.

In 2007, Sunsuper launched the MAC which is a service that offers members free advice about their super over the phone from qualified financial planners. In January 2015, we also launched our National Advice Program (NAP) which has seen Sunsuper partner with a number of professional financial advice practices in a move that gives the Fund’s members greater access to a network of highly qualified advisers across the country.

Sunsuper recognises the need to make super relevant to our members, many of whom have many years to retirement and we are committed to giving members all the information they need to make knowledgeable decisions about their super. As such, we have developed a broad range of communication materials for employers and members, which include, among other things, product disclosure statements, member and employer newsletters and magazines, direct mail, e-newsletters and a broad range of digital tools and calculators. We also regularly send contribution statements to members and employers, and produce an annual report. Our website has also been developed as a rich source of information for members and employers. A variety of super, retirement seminars and informational seminars for members and employers are also held throughout the year.

Investment strategy

Sunsuper aims to reduce investment risk by diversifying across both asset classes and manager styles to help members achieve their investment goals.We offer a broad range of investment options including diversified and single asset class options through leading investment managers sourced by Sunsuper and its investment consultants. In fact, we draw on the expertise of hundreds of investment professionals in Australia and around the world who constantly assess market conditions and opportunities and help us make strategic decisions that will help grow our members’ super.

Sunsuper’s culture and values

Sunsuper’s purpose is to inspire and empower Australians to fulfil their retirement dreams and this is supported by our corporate values – trust, accountability, candour, collaboration, leadership, and customer first.

We believe it is our values that underpin our culture and make us unique. Our values were developed by our people and define the way we work, guiding our behaviour, decisions and interactions with our customers and each other.

We strive for a culture of commercial success and high performance. Our corporate purpose sums it up – “We inspire and empower Australians to fulfil their retirement dreams” and this is supported by our brand positioning, “Make your dreams more than dreams”.

*As at October 2018