Governance

As a fund run only to profit members, Brighter Super is committed to delivering excellent value so you can enjoy more money in retirement. To achieve this, we need good governance, strong operations and clear accountability.

Our governance framework

Brighter Super has been a complying regulated superannuation fund since 1 July 1995 within the meaning of the Superannuation Industry (Supervision) Act 1993 (the SIS Act). LGIAsuper Trustee (ABN 94 085 088 484) acts as trustee of the fund under the Local Government Act (Qld). LGIAsuper Trustee holds a Responsible Superannuation Entity (RSE) Licence (RSE Licence number L0000178).

From 1 July 2011, Brighter Super (known then as LGsuper) and City Super merged to become one fund for all of local government in Queensland. Today, the combined fund operates as Brighter Super.

Brighter Super is governed by a Trust Deed, which outlines our governing rules (and consolidates any amending or supplemental Trust Deed).

Who runs Brighter Super?

LGIAsuper Trustee is responsible for managing Brighter Super in the best interests of members.

Remuneration arrangements

At Brighter Super, our goal is to provide members with high quality, low cost superannuation services to help them achieve their retirement goals. To provide these services LGIAsuper Trustee must attract and retain quality staff. Brighter Super's remuneration strategy aims to achieve this.

Reports, policies and guides

Brighter Super has developed a range of policies to guide our governance practices. As part of our commitment to transparency, we also publish reports and guides about our fund’s performance, products and operations.

Annual reports

If you want to know who’s looking after your financial future and how, our annual reports are a great place to start. They also include the fund’s financial statements.


Significant event notices

You can rely on Brighter Super for clear and honest communication. We'll let you know about any material changes to our fund, including any changes that might affect your retirement savings.

Board election

Nominations for two Member Representative positions on the Board of Brighter Super are open from 19 July to 30 August 2022.

Investment activities

The Board of Directors is responsible for investing your money to help build your retirement savings. We work with expert asset consultants to select well known and trusted professional investment managers who each have a specific area of expertise.

Our directors work with expert asset consultants to select trusted and professional investment managers who are then delegated the primary responsibility of investing your money to produce solid, long-term returns. Proxy voting is available to our appointed investment managers to help them achieve their investment objectives.

How your money is managed

Learn more about how Brighter Super invests your money:

Target Market Determination

A Target Market Determination (TMD) sets out the target market for which a product has been designed, triggers to review the target market and certain other information. It forms part of LGIAsuper’s design and distribution framework for the product as required under the Corporations Act 2001 (Cth).

A TMD is not a Product Disclosure Statement (PDS) and does not provide a summary of the product features or terms of the product. These documents do not take into account any person’s individual objectives, financial situation or needs. Persons interested in acquiring a product should carefully read the PDS and consider obtaining financial advice before making a decision whether to buy the product.

The Fund has prepared a TMD for each Brighter Super product offered:

Brighter Super Accumulation account

Brighter Super Pension account

Brighter Super Transition to Retirement (TTR) account

 

A TMD has been prepared for each Energy Super product offered by LGIAsuper Trustee:

Energy Super Defined Contribution account

Energy Super Transition to Retirement (TTR) account

Energy Super Income Stream account

LGIAsuper sells its investment in Bravura Solutions

In 2017, LGIAsuper invested in Bravura Solutions, the software provider of LGIAsuper’s superannuation administration platform. As a strategic investment, this investment should have been acquired from the General Reserve of the Fund rather than as an investment of the Fund.

In 2018, LGIAsuper sold this investment and a made a profit of $18.2m. These funds were transferred to the General Reserve to align with the strategic nature of the investment and the future benefits of the software for the Fund. The software has been transferred to the external administrator, who will maintain, enhance and provide the service back to the Fund as part of a 10-year contract. The short-term impact of this decision was a reduction in members’ investment earnings in 2018/19 which depended on your account type and investment option. For more information click here.

External service providers

Brighter Super employs a range of external service providers to help the fund run efficiently and meet all service standards. To help the fund run efficiently and provide maximum value to members, Brighter Super outsources some services.

 

Role/service outsourced Service provider ABN
Actuarial advice Willis Towers Watson 98 112 435 079
Administrator Tech Mahindra 15 092 511 558
Asset consulting JANA 97 006 717 568
Audit - external PwC 52 780 433 757
Audit - internal Deloitte 74 490 121 060
Custodian National Australia Bank Limited (NAB Asset Servicing) 12 004 044 937
Group life insurer TAL 70 050 109 450
Information services and technology Tech Mahindra 15 092 511 558
Investment management1 Altis Property Partners
AMP Capital
ANZ
Ardea Pure Alpha
Barwon Institutional Healthcare
Barings Emerging Markets Debt
Benefit Street Partners
Bentall GreenOak
Brandywine Global
Clearbell
Controlled Environment Foods
Dexus Wholesale Property Fund
Eley Griffiths Group
EQT Infrastructure
Equis Funds Group
Equilibrium Capital
Europa
Folium Capital
Goldman Sachs Aust Ltd
GPT Wholesale Office Fund
GQG Partners LLC
ICG Australia Senior Fund
K2 Multi Strategy Fund
Lighthouse Infrastructure
Lend Lease APPF Retail Fund
Maple Brown Abbot Ltd
Members Equity SMHL
Morgan Stanley Investments
Orchard Asset Management
Orion European Real Estate
Palisade Investment Partners
Parametric Portfolio Associates
Payden & Rygel
Pendal Institutional Limited
QIC Limited
Resolution Capital
River and Mercantile Asset Management
Robeco Emerging Markets
Rockspring Europe Fund
Sustainable Growth Advisers
Wavestone Capital
Westbourne Capital
132 761 338
59 001 777 591
11 005 357 522
23 582 895 002
20 296 879 068
n/a
n/a
n/a
n/a
n/a
n/a
75 942 337 384
24 060 920 783
n/a
n/a
n/a
n/a
n/a
41 006 099 681
17 049 857 761
n/a
85 838 414 235
n/a
27 484 468 328
73 001 208 564
61 002 894 153
56 070 887 679
22 122 040 037
n/a
n/a
32 124 326 361
89 153 743 894
n/a
17 126 390 627
95 942 373 762
50 108 584 167
66 625 878 622
n/a
n/a
66 631 956 851
80 120 179 419
79 486 150 089
Legal advisors Ashurst
CNM Legal
Corrs Chambers Westgarth
Jones Day
Mills Oakley
75 304 286 095
89 498 731 012
89 690 832 091
59 206 613 356
25 894 617 673
Tax advisors PwC 52 780 433 757
Insurance broker Bluebook Insurance Brokers 18 623 039 707
Financial advice services Link Advice
Industry Fund Services
36 105 811 836
54 007 016 195
 
 

1. These investment managers represent only those who have been delegated ('outsourced') the responsibility to invest on the fund's behalf. For more information see our Investment managers & top holdings page.

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The best way to learn about improving your personal situation today and in the years ahead is to talk to our friendly and experienced financial advice team.

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