Looking forward to 2022

16 December 2021

The past 12 months have been incredibly productive for our fund; not only have we merged with Energy Super to become an even stronger Queensland-first superannuation fund of around $24 billion, but we have also successfully navigated major changes to our industry.

Into 2022 we will continue to work on the next stage in our fund's growth, our acquisition of Suncorp's superannuation business, Suncorp Portfolio Services Limited (SPSL). The combined funds will have about 250,000 members and around $30 billion under management. 

In other good news for members, we end the year with Queensland reopening its borders and members reuniting with their out-of-state friends and families. We expect to see a boom in domestic flights as families clamour to see each other over the holidays and as confidence returns to the Queensland tourism industry. 

We are thrilled to say that our members are primed to reap the rewards of the fund's long-standing commitment to investing where members live and work. With shares in Cairns (3.46%), Townsville (5.19%), Mount Isa (5.19%) and Mackay (3.46%) airports, fifty per cent ownership of the Sunshine Coast Airport, and a major share of the Gold Coast Airport, we expect the increase in flights to these regions now and into 2022 to result in strong returns to members.

Better industry benchmarking

Superannuation reforms were also introduced by the Government this year to deliver better outcomes for members. As a profit-for-members fund, LGIAsuper has long supported changes that benefit our members and promote further transparency and accountability in the sector.

In September, we were pleased to inform members that we were successful in meeting the Your Future Your Super benchmarking set out by the regulator. However, to better our performance of LGIAsuper’s MySuper products and its ranking when compared to other funds into the future, we have and continue to take a number of proactive steps, including:

  • Removing the weekly administrative flat-rate fee and capping the annual percentage-based administration fee at $900 per annum;
  • Merging and restructuring our investments with Energy Super;
  • Consolidating products and portfolios to bring better outcomes for members;
  • Restructuring our investments team to drive further accountability across each element of the benchmark;
  • Passing on the tax benefits from administration fees back to members.

Recognising the fund

We are also thrilled to announce that, for the fourteenth year in a row, we were awarded a Platinum rating for 2022 by SuperRatings (the highest possible) for the Accumulation and Pension categories, and our MySuper option (launched in January 2014) received a Platinum rating for the ninth year running.1
 
These ratings are a good indication that our continuous work to improve our portfolios and products is creating better member outcomes. We will continue to keep our members' interests at the heart of every decision we make in 2022.
 
For more information on the fund's investment strategy, please visit www.lgiasuper.com.au or www.energysuper.com.au.

You should refer to respective research houses (and their disclaimers) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated. Ratings are current as at date of publications. LGIAsuper pays a fee to some research houses for rating our funds.