April super news

4 min read
4 min read

QSuper to support Royal Flying Doctor Service

The Royal Flying Doctor Service (Queensland section) (RFDS) Flight Nurses will be supported by QSuper to continue providing vital health care to QSuper members, and all Queenslanders in regional and remote communities.

As part of this new partnership, QSuper will be sponsoring nominated RFDS Flight Nurses to attend the internationally recognised STAR program, which delivers all the essential aspects of aeromedical retrieval.

“QSuper’s investment in our Flight Nurse training and their continued professional development is paramount to the continued success of our organisation,” said RFDS (Queensland Section) CEO, Meredith Staib.

Staib noted in a 12-month period, RFDS Flight Nurses deliver care to patients on more than 11,000 aeromedical retrieval missions. 75 per cent of these taskings are “Nurse only” flights, where they must be prepared to handle any eventuality that may occur at 15,000 ft.

Viridian Financial Group acquires part of Westpac’s BT Financial Advice business

Viridian has entered into an agreement to acquire part of Westpac’s BT Financial Advice business.

As part of the transaction, Viridian will also offer BT Group Licensees practices, currently operating under the Securitor and Magnitude brands, the opportunity to join a Viridian owned licensee advice model operating under an Australian Financial Services Licence (AFSL) being established. Viridian also intends to acquire the Securitor and Magnitude brands under its new model, subject to finalising terms with Westpac.

The purchase agreement results in the transfer to Viridian of part of the BT Financial Advice business and some of BT Financial Group’s financial advisers and support staff. Viridian will have national adviser presence through both an employee adviser channel and a licensing model for separately run advisory firms.

The BT Financial Advice advisers, support staff and clients who agree to the transition are expected to transfer to Viridian on the anticipated completion date 30 June 2019. BTGL practices that accept the Viridian licensing model will also be able to commence transferring to the newly established AFSL at a later date.

AMP monthly data is super interesting

According to AMP’s technical superannuation adviser support team, accessing super and understanding the conditions for release was the key issue financial advisers helped their clients with last month.

Data from more than 2000 calls made by advisers in February showed a spike in queries about early access to super.

Other key issues being raised by financial advisors in February included:

  • how much can be contributed to super through non-concessional contributions
  • how transition to retirement pensions work
  • understanding how the superannuation death benefit works
  • understanding how total and permanent disability insurance works within superannuation.

MetLife panel discusses mental health

Speaking at the MetLife Panel Discussion on Mental Health in the Workplace in Melbourne, Margo Lydon, SuperFriend CEO said: “Insurers and super funds are seeing more and more mental health claims, but they mustn’t overlook the wellbeing of their own people. With a quarter suffering high stress and a third concerned about job security, financial services workers are a vulnerable group.”

Mark Raberger, MetLife chief claims officer and panel facilitator said that for claims assessors particularly, it can be stressful helping a customer through this difficult time, which is why training for these employees is so important – both in terms of providing a caring experience for customers, as well as protecting their own mental wellbeing.

Raberger also said: “At MetLife, we’ve seen a substantial increase in Mental Health claims, with 25 per cent of our income protection and 21 per cent of our total and permanent disability claims having a primary mental health-related cause. This has effectively doubled over the past six years and it is likely to continue to increase if we don’t take action.”

Lydon also said, “Financial services organisations need to apply best practice to their workplaces if they have any hope of supporting their customers. Look at your policies, capabilities, leadership, culture and connectedness, and think about if they are truly giving your people what they need.”

ASFA & National Rural Women’s Coalition Ltd (NRWC) Superannuation Simplified Webinar

ASFA Learning is conducting a lunchtime learning webinar on the 10th April 2019 for the NRWC, a national not for profit organisation that seeks to connect rural, regional and remote (RRR) women with government and policy makers. The webinar will provide attendees with the knowledge and skills to understand and effectively manage their superannuation. ASFA is proud to support the NRWC in their work towards:

  • greater participation of women in the workforce
  • positive life-long economic security for women
  • reduction of domestic violence.

To find out more visit www.nrwc.com.au

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Carmen Beverley-Smith

Executive Director - Superannuation, Life & Private Health Insurance, APRA

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Carmen joined APRA in March 2023 and holds the role of Executive Director, Life and Private Health Insurance and Superannuation.  

She has had an esteemed career in financial services, spanning over 25 years. She has held diverse leadership roles at Westpac and Commonwealth Bank of Australia, including across risk, transformation and change, product and portfolio development, and sales and service. 

Prior to joining APRA, she held the role of General Manager, Risk Transformation Delivery Integration at Westpac. This involved leading the group-wide implementation of a suite of solutions to uplift risk management capability and develop data, analytics and reporting. 

Carmen leads with a values-driven approach and a particular interest in developing and mentoring talent. 

She holds a Bachelor of Commerce and Accounting, is a certified Chartered Accountant and a Graduate of the Australian Institute of Company Directors. 

Amy C. Edmondson

Novartis Professor of Leadership and Management, Harvard Business School

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Amy C. Edmondson is the Novartis Professor of Leadership and Management at the Harvard Business School, a chair established to support the study of human interactions that lead to the creation of successful enterprises that contribute to the betterment of society.

Edmondson has been recognized by the biannual Thinkers50 global ranking of management thinkers since 2011, and most recently was ranked #1 in 2021 and 2023; she also received that organization’s Breakthrough Idea Award in 2019, and Talent Award in 2017.  She studies teaming, psychological safety, and organisational learning, and her articles have been published in numerous academic and management outlets, including Administrative Science Quarterly, Academy of Management Journal, Harvard Business Review and California Management Review. Her 2019 book, The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation and Growth (Wiley), has been translated into 15 languages. Her prior books – Teaming: How organizations learn, innovate and compete in the knowledge economy (Jossey-Bass, 2012), Teaming to Innovate (Jossey-Bass, 2013) and Extreme Teaming (Emerald, 2017) – explore teamwork in dynamic organisational environments. In Building the future: Big teaming for audacious innovation (Berrett-Koehler, 2016), she examines the challenges and opportunities of teaming across industries to build smart cities. 

Edmondson’s latest book, Right Kind of Wrong (Atria), builds on her prior work on psychological safety and teaming to provide a framework for thinking about, discussing, and practicing the science of failing well. First published in the US and the UK in September, 2023, the book is due to be translated into 24 additional languages, and was selected for the Financial Times and Schroders Best Business Book of the Year award.

Before her academic career, she was Director of Research at Pecos River Learning Centers, where she worked on transformational change in large companies. In the early 1980s, she worked as Chief Engineer for architect/inventor Buckminster Fuller, and her book A Fuller Explanation: The Synergetic Geometry of R. Buckminster Fuller (Birkauser Boston, 1987) clarifies Fuller’s mathematical contributions for a non-technical audience. Edmondson received her PhD in organisational behavior, AM in psychology, and AB in engineering and design from Harvard University.

 

Daniel Mulino MP

Assistant Treasurer and Minister for Financial Services

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Born in Brindisi, Italy, Daniel was a young child when he moved with his family to Australia. He grew up in Canberra and completed his first degrees – arts and law – at the ANU. He then completed a Master of Economics (University of Sydney) and a PhD in economics from Yale.

He lectured at Monash University, was an economic adviser in the Gillard government and was a Victorian MP from 2014 to 2018. As Parliamentary Secretary to the Treasurer of Victoria, Daniel helped deliver major infrastructure projects and developed innovative financing structures for community projects.

In 2018 he was preselected for the new federal seat of Fraser and became its first MP at the 2019 election, re-elected in 2022 and 2025. From 2022 to 2025, Daniel was chair of the House of Representatives’ Standing Economics Committee in which he chaired inquiries; economic dynamism, competition and business formation and insurers’ responses to 2022 major floods claims.

In 2025, he became the Assistant Treasurer and Minister for Financial Services.

In August 2022, Daniel published ‘Safety Net: The Future of Welfare in Australia’, which aims to explore the ways in which an insurance approach can improve the effectiveness of government service delivery.