 | |
| Industry | Superannuation |
|---|---|
| Predecessors | QSuper Sunsuper |
| Founded | 28 February 2022 |
| Founder | w |
| Headquarters | Brisbane, Queensland, Australia |
Area served | Australia |
Key people |
|
| Divisions | QSuper |
| Website | australianretirementtrust.com.au |
The Australian Retirement Trust (ART) is an Australian superannuation fund headquartered in Brisbane, Queensland. It has over $300bn in retirement savings under management and 2.4 million members, making it Australia's second-largest superannuation fund. [1] [2] [3]
The Australian Retirement Trust was founded on 28 February 2022 following the merger between Sunsuper and QSuper. [4] It was the largest superannuation fund merger in Australian history. [4]
On 30 April 2022, the Australia Post Superannuation Scheme (APSS) was merged into the Australian Retirement Trust. [5] In May 2022, Woolworths appointed the Australian Retirement Trust to manage its corporate superannuation services. [6]
On 21 February 2023, the Commonwealth Bank Group Super announced it had entered into a memorandum of understanding to pursue a merger with the Australian Retirement Trust. [7] In July 2024, Qantas announced it would merge its superannuation fund with Australian Retirement Trust. [8]
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income. The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the world's largest public pension fund. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about USD$6 trillion in assets. In 2012, PricewaterhouseCoopers estimated that pension funds worldwide hold over $33.9 trillion in assets, the largest for any category of institutional investor ahead of mutual funds, insurance companies, currency reserves, sovereign wealth funds, hedge funds, or private equity.
Woolworths Group Limited is an Australian multinational retail and finance company, primarily known for the operation of its retail chain Woolworths Supermarkets across Australia, Woolworths in New Zealand and its discount department store Big W. Headquartered in Bella Vista, Sydney, it is the largest company in Australia by revenue and number of employees, and the second-largest in New Zealand.
The Commonwealth Bank of Australia (CBA), also known as Commonwealth Bank or simply CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of financial services, including retail, business and institutional banking, funds management, superannuation, insurance, investment, and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of July 2024, with brands including Bankwest, Colonial First State Investments, ASB Bank, Commonwealth Securities (CommSec) and Commonwealth Insurance (CommInsure). Its former constituent parts were the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank.
The Australia and New Zealand Banking Group Limited, commonly known as ANZ Bank, is a multinational banking and financial services company headquartered in Melbourne, Victoria, Australia. It is Australia's second-largest bank by assets and fourth-largest bank by market capitalisation.
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank. There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, and a large number of other financial institutions, such as credit unions, building societies and mutual banks, which provide limited banking-type services and are described as authorised deposit-taking institutions (ADIs). Many large foreign banks have a presence, but few have a retail banking presence. The central bank is the Reserve Bank of Australia (RBA). The Australian government’s Financial Claims Scheme guarantees deposits up to $250,000 per account-holder per ADI in the event of the ADI failing.
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages. From Jan 2025, the mandatory minimum "guarantee" contribution is 12%. The superannuation guarantee was introduced by the Hawke government to promote self-funded retirement savings, reducing reliance on a publicly funded pension system. Legislation to support the introduction of the superannuation guarantee was passed by the Keating Government in 1992.
Suncorp Group Limited, known simply as Suncorp, is an Australian finance, insurance and banking corporation based in Brisbane, Queensland, Australia. It was formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC), and is one of Australia's mid-sized banks and its largest general insurance group.
Colonial First State (CFS), is an Australian wealth management group that provides investment, superannuation and retirement products to individuals as well as corporate and superannuation fund investors.
An industry superannuation fund are Australian superannuation funds that historically were established by Australian trade unions to manage retirement savings for workers in their industry. Funds other than industry funds are referred to as 'retail funds'.
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Sunsuper Superannuation Fund (Sunsuper) was an Australian public offer industry superannuation fund based in Brisbane, Queensland, Australia. It was established in 1987 as a multi-industry superannuation fund open to all workers and is profit-for-members. Sunsuper was the largest superannuation fund by membership in Queensland, with 1.3 million members and over 100,000 default employers. As at December 2020, it had more than A$79 billion in funds under management.
Everyday Rewards, known as Woolworths Rewards between 2015 and 2020, is a customer loyalty program owned and operated in Australia and New Zealand by Woolworths Group. Members can earn points in the program from Woolworths Group companies, as well as partner brands like Ampol, Bupa and Origin Energy. Qantas Frequent Flyer program members can convert 2,000 Everyday Rewards points to 1,000 Frequent Flyer points as part of a partnership between the two companies.
Westpac Banking Corporation, also known as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales.
Sydney Airport Corporation Limited (SACL) was formed by the Australian Federal Government as the corporate entity and sole leaseholder for Sydney Airport. It owns the airport operator for Sydney Airport, Sydney Airport Limited.
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. It is an industry super fund, and so operates through a mutual fund structure.
Aware Super is an Australian industry superannuation fund headquartered in Sydney, New South Wales. With $176.9 billion under management and 1.15 million members, it is Australia's third-largest superannuation fund.
Hostplus is an Australian industry superannuation fund. The fourth largest superannuation fund in Australia as of 2023, it is 'giant' with around 1.7 million members (2023) and over $100b funds under management.
QSuper was an Australian superannuation fund based in Brisbane, Queensland. The fund was established in 1912 through an Act of Parliament. The State Public Sector Superannuation Scheme was also known as the QSuper Fund. The board of trustees of the State Public Sector Superannuation Scheme was responsible for the management of the QSuper Fund. On 26 Oct 2015 Michael Pennisi, the chief strategy officer replaced Rosemary Vilgan as CEO, who had served in that position for 18 years.
TWUSUPER is an Australian industry superannuation fund.