Compulsory superannuation was just over 10 years old when our outgoing Chairman, Anne Ward first joined the Qantas Super Board of Directors in 2004.
It was a fragmented industry at the time, but with the size of the super savings pool steadily growing and funds themselves getting bigger, it was clear more regulation would be coming. With decades of experience in the areas of regulatory and commercial law, Anne felt she could help the fund navigate the coming changes.
15 years on, with Anne serving for 14 as Chairman of the Board, both the super landscape and Qantas Super itself have indeed seen a multitude of changes.
Qantas Super was, in 2004, effectively run as a division of Qantas Airways itself by a general manager and a small team.
“We were a bit out of the mainstream and lost in the shadows for a while. But it was a great fund, with really motivated people, and lots of opportunity,” Anne said.
With that in mind, one of Anne’s proudest achievements during her time on the Board has been helping the fund harness that opportunity and become “functionally independent”, where “it’s part of the Qantas group, but can stand on its own two feet and meet the legal requirements for running a contemporary superannuation fund ”.
Anne explained, “Myriad little things went into that, to achieve the position that you see now where it’s an integral part of Qantas but has its own identity and its own autonomy…that’s the big journey that the fund has been on.”
Key steps on this 15 year journey have included appointing a CEO and Chief Investment Officer, outsourcing administration and insurance, and building risk management and governance capability.
Anne is also proud of the work Qantas Super has done in the investment space to ensure that the fund is doing everything it can to help members feel confident about their financial future.
During Anne’s time as Chairman, Qantas Super introduced a variety of new investment options, giving members more choice in how and where their super is invested. It also came through the Global Financial Crisis stronger, and with a number of lessons learned.