The Sisters of Mercy Staff Superannuation Scheme has been providing benefits to its members since it was established in 1962. The Scheme has now grown to over 10,000 members, and is well known as being at the forefront of development in terms of performance and delivery of efficient services to both members and employers.
The Scheme is a corporate arrangement and is offered exclusively to the Employees of the Principal Employer and other Associated Employers admitted to the Scheme by the Principal Employer. The Principal Employer of the Scheme is the Corporation of the Trustees of the Order of the Sisters of Mercy in Queensland.
Since the Scheme's inception, it has offered a Defined Benefit Membership to eligible employees. In 1988, with the introduction of Award Superannuation Legislation, there was a need to introduce a category to handle these contributions and the Award Category was introduced at that time. From 1 May 2000, the Contributory Accumulation Category was introduced to eligible Part time and Full time employees. This has had the affect of increasing the options available to members of the Scheme so that they have a choice of Category, to tailor their membership to reflect their financial needs. The Scheme currently has in excess of $400 million in assets due to the strong investment returns over time.
Previously, the Scheme's administration was outsourced for a period of time with an external administration company. In 1993, it was decided to internally administer the Scheme so as to increase the level of service and benefits available to members. The Superannuation Office is located ground floor of the Central Administration Building at the Mater Adult Hospital and is open during normal business hours.
The Trustee is constantly looking at ways to improve the benefits and
flexibility of the Scheme for members, so watch this site for more information.
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