South Australian Superannuation Board Annual Report

To: Hon. Stephen Mullighan MP, Treasurer

Dear Treasurer

On behalf of the Board of Super SA, I am pleased to present the Annual Report for the financial year ended 30 June 2023.

The Report is submitted for your information and presentation to Parliament in accordance with the requirements of section 21 and schedule 3 (section 10) of the Superannuation Act 1988 and section 16 of the Southern State Superannuation Act 2009 and Premier and Cabinet Circular PC013 Annual Reporting.

This Report is verified to be accurate for the purposes of annual reporting to the Parliament of South Australia.

Submitted on behalf of the South Australian Superannuation Board by:

It is our pleasure to present the 2022-23 Super SA Board Annual Report.

Members are at the heart of everything we do

The Annual Report highlights the key accomplishments Super SA has achieved for its members over the last financial year, notably:

• Implemented a state-based choice of fund regime known as “fund selection” and a limited public offer facility (being the ability for private employers to contribute to Super SA Select) for eligible members of the Triple S scheme and Super SA Select

• Investment in technology, cyber security and information management, in line with our commitment to the security of member data

• Commenced the implementation of an industry best practice methodology for calculating superannuation scheme unit prices in line with Australian Securities and Investment Commission Regulatory Guide 94 Unit Pricing: Guide to good practice.

Continuous improvement for best member outcomes

Since the introduction of fund selection in November 2022, Super SA has been focusing its efforts on continually improving and providing quality outcomes to members.

Super SA is proactively mobilising key initiatives to retain members in the competitive superannuation environment in which we now operate, by significantly enhancing our technological capabilities and service offering for members. This strategic approach aligns with community expectations of a modern super fund.

The Board has developed its strategy in the spirit of the Australian Prudential Regulation Authority (APRA) Prudential Standard SPS 515 Strategic Planning and Member Outcomes, a standard which requires regulated superannuation funds to deliver demonstrable quality outcomes and act in the best financial interests of its members.

Super SA has adopted this important standard, because it is in the best financial interests of our members to do so.Super SA will deliver on these requirements by:

• Proactively engaging our investment partner Funds SA, to improve on its best practice investment model in consideration of investment strategy, returns, reporting under the Australian Securities and Investments Commission’s (ASIC) RG97 Disclosing fees and costs in PDSs and periodic statements, risk and fees

• Designing competitive products to meet the needs of current and future members in accordance with SPS 515 Strategic Planning and Member Outcomes

• Enhancing digital member capability and capacity with targeted member engagement, while maintaining stringent cyber security measures that protect the financial interests of members

• Implementing a truly member-centric experience by continuing to grow a culture of members’ best financial interests

• Continuing to administer the robust suite of governing legislation and regulatory requirements for which it is responsible.

Investment performance

Despite a challenging market, Super SA delivered a strong 9.6% financial year return for members in its Triple S (untaxed) Balanced option.

Importantly, long-term performance remains positive with members benefitting from returns that generally exceed stated performance objectives for growth-based options, as at 30 June 2023.

Investment performance was driven by strong growth in equity markets globally, with the performance of the technology sector a key driver. Economic growth has proved relatively resilient with consumer spending holding up well over the year despite a forecasted recession. Positive factors were offset by write-downs in some property assets toward the end of the year.

The rebound in investment performance this year is a significant reminder to focus on consistent long-term performance.

Thank you

To all our members, thank you for your continued support.

We also thank the Board and all Super SA staff for their continued dedication to members’ best interests throughout the past 12 months.

Signed by:

Overview: about the agency

Our strategic focus
Our organisational structure
Changes to the agency
Our Minister
Our Board (as at 30 June 2023)
Our Executive team
Legislation administered by the agency

The agency’s performance

Performance at a glance
Agency specific objectives and performance
Corporate performance summary

Financial performance

Financial performance at a glance
Other financial information

Risk management

Risk and audit at a glance
Fraud detected in the agency
Strategies implemented to control and prevent fraud
Public interest disclosure 
Reporting required under any other act or regulation

Public complaints

Number of public complaints reported
Additional metrics
Service improvements
Compliance statement

Appendix: Audited financial statements 2022-23

Our strategic focus

Our Purpose 

Our purpose is to champion the financial well-being of our members. The Board is responsible for the administration of:

• Triple S Scheme
• Pension Scheme
• Lump Sum Scheme
• Income Stream
• Flexible Rollover Product
• SA Ambulance Service Superannuation Scheme.

Our Vision

To be the most respected superannuation fund

Our Values

Dedication – we are members serving members, so we go the extra mile and always look for ways to do better
Insight – our experience means we know our SA members, and we build on this knowledge to deliver the best outcomes
Integrity – our ethical principles are non-negotiable, and we act in our members’ best interests transparently and consistently

Our Functions, Objectives and Deliverables

Our strategy is to excel and improve member experience whilst being competitive on fees and returns.

High level strategic objectives:

• Grow the combined funds under management of all Super SA related Schemes to $43.1 billion by 30 June 2024*
• Net investment returns comparative to Super SA’s six key competitors
• Fees – to be in the most cost-efficient quartile of funds while
  delivering additional services to members

^{*In conjunction with Funds SA including investments, returns, employer and member contributions}

Our Strategy

Four strategic themes:

• Member and Employer Engagement – to enhance the member experience to drive engagement, retention and growth
• Future Proofing – to transform the Fund for long-term sustainability
• Competitive Products – to design product / investment options that deliver to member expectations in a competitive environment
• Member Centric Culture – to engage and develop our people to deliver a continually improving member centric service.

Our organisational structure 


Changes to the agency

During 2022-23 there were no changes to the agency’s structure and objectives as a result of internal reviews or machinery of government changes.

Our Minister

The Hon. Stephen Mullighan MP is the Treasurer and the Minister responsible for superannuation.

Our Board (as at 30 June 2023)²

Hon Kevin Foley
Presiding Member (Chairman), appointed by the Governor from 2 December 2022.

With significant experience in economic strategy, financial management, superannuation and strategic advisory, Kevin Foley served as Treasurer and Deputy Premier of South Australia from 2002 to 2011 and was the Chair of the Funds SA Board from 2015 - 2018.

Significant Superannuation and Investment experience as a Trustee Director of Statewide Super for 11 years. Thirty years’ experience as Managing Director, Director and Chairman of Public and Private Companies. Fellow of Australian Institute of Company Directors and Institute of Chartered Accountants.

Presiding Member, Southern Select Superannuation Corporation.

Virginia Deegan
Appointed by the Governor from 23 July 2020 - 22 July 2023.

Executive Director Infrastructure, University of Adelaide.

Extensive board and executive management experience across a range of sectors including superannuation, health, and higher education.

A Fellow of CPA Australia (FCPA) and Member of Australian Institute of Company Directors.

Board Member of the Southern Select Super Corporation, Member, SA Health Risk Management and Audit Committee and Director, Stawell Underground Physics Lab Pty Ltd.

Alison Kimber

Member representative elected from 2 October 2021 - 1 October 2024.

Significant board and executive experience in financial markets, superannuation and community service delivery. More than 30 years’ experience in the finance, government, and not-for-profit sectors

Fellow of the Australian Institute of Company Directors and Fellow of the Institute of Actuaries of Australia.

Councillor, Australian Institute of Company Directors SA/NT and Board Member,

Southern Select Super Corporation, Member, Cabaret Fringe Association Board, Member, ACT City Renewal Authority Board and Board member Can Do Group.

William Griggs

Member representative elected from 2 October 2021 - 1 October 2024.

Bill Griggs brings to the Board significant leadership and board experience, with expertise in corporate governance, people and culture, superannuation, investment, and insurance. He has a particular interest in managing/coping during times of uncertainty and in evidence-based decision making.

Current Directorships or equivalent - Director, Funds SA, Director, Return to Work SA, Board Member, Southern Select Super Corporation and Board member, St John Ambulance.

Fellow of Australian Institute of Company Directors.

Mr Richard Dennis

Appointed by the Governor from 23 July 2021 - 22 July 2024.

Richard Dennis is a legal practitioner and consultant and held the position of South Australian Parliamentary Counsel 2006-2015.

Governor of the Wyatt Trust, Member, Anglican Diocese of Adelaide Drafting Committee and Board Member, Southern Select Super Corporation.

Attendance at Board and Committee meetings

All members serve in a part-time capacity.

Board members attend a variety of national conferences and education seminars.

During the 2022-23 year, Board members attended the Association of Superannuation Funds of Australia Conference (Brisbane, February 2023) and the Australian Institute of Superannuation Trustees’ Conference of Major Super Funds (Melbourne, March 2023).

Name	Board		Audit, Risk and Finance Committee		Member Outcomes and Insurance Committee
	Eligible to attend	Attended	Eligible to attend	Attended	Eligible to attend	Attended
Kevin Foley	7	7	2	2	1	0
Greg Boulton4	5	4	1	1	1	1
Virginia Deegan	15	15	5	5
Richard Dennis	15	14	5	5
Bill Griggs	15	11			3	3
Alison Kimber	15	15	2	2	3	3

Our Executive Team

Dascia Bennett, Chief Executive

Responsible for leading the organisation and delivering on the Board’s strategic agenda whilst ensuring that Super SA meets legislative and reporting requirements for all superannuation funds managed.

In addition to leading the Executive Team, during 2022-23, the delivery of human resources and organisational development was re-aligned to report directly to the Chief Executive.

Patrick McAvaney, Director Policy and Governance

Responsible for the provision of leadership and advice in the areas of legislation, policy, dispute resolution, risk management, compliance and governance practices across Super SA.

This role is also responsible for board and committee services.

Lorna Harrison, Director Operations

Responsible for leading the Operations team to ensure the timely and accurate collection of contributions and member data, payment of benefits, administration of post retirement services and the annual review process for the funds administered by Super SA.

In addition, the role leads the insurance delivery service.

Karen Raffen, Director Brand and Member Engagement

Responsible for leading the design and implementation of a contemporary brand, marketing and member experience strategy for the Fund.

Karen is responsible for the areas of member services, financial planning, marketing and member experience.

The role also develops business solutions that optimise the Board’s strategic objectives in relation to maintaining and improving scale through membership retention and growth.

Adrian De Silva, Director Strategy, Product and Transformation

Responsible for providing leadership and management of product and strategic advice across Super SA.

This includes accountability for the design and alignment of superannuation product offerings to meet member outcomes.

The role’s responsibilities also include Super SA’s project management office, with oversight of major transformational projects, contemporary change management practices and oversight of the Funds SA operational relationship.

Mike Gulliver, Director Technology and Information Security

Responsible for providing strategic and operational leadership to deliver technology and data services in support of Super SA’s strategy and ongoing benefit for members. This includes responsibility for technology roadmap development,

Information Communication Technology (ICT) service delivery model, and cyber security practices aligned to government requirements and APRA Prudential Standards.

This role is also accountable for managing contractual ICT service level agreements, budgets, and key relationships with agencies, regulators and external technology partners.

Mark Hordacre, Director Finance

Responsible for leading the Finance, Actuarial and Procurement group in the design and delivery of sound financial management services for the benefit of our members and relevant agencies.

This includes responsibility for the provision of financial and management accounting services to the Schemes and the Board, tax and investment operations for the Schemes.

Legislation administered by the agency

The Super SA Board is responsible to the Treasurer for all aspects of the administration of:

• Southern State Superannuation Act 2009 (Triple S, Flexible Rollover Product and Income Stream); and
• Superannuation Act 1988 (Lump Sum and Pension Schemes) except for the management and investment of the funds.

The Board also acts as trustee of the SA Ambulance Service Superannuation Scheme and is responsible for administering the Trust Deed and rules.

The Government of South Australia, other state and territory governments and the Commonwealth Government have entered into a Heads of Government Agreement on superannuation (HOGA) that recognises certain public sector schemes are exempt public sector superannuation schemes and therefore exempt from the Commonwealth’s Superannuation Industry (Supervision) Act 1993 (SIS Act).

Each scheme is, however, deemed to be a complying fund in terms of the SIS Act, for superannuation guarantee purposes under the Superannuation Guarantee (Administration) Act 1992 and for income tax purposes under the Income Tax Assessment Act 1936.

In terms of the HOGA, the state government has made a commitment to use best endeavours to ensure that the exempt public sector schemes conform to the principles of the Commonwealth’s retirement income policy objectives.

Other related agencies (within the Minister's area/s of responsibility)

Super SA

On behalf of the Super SA Board, the State Superannuation Office (Super SA) is responsible for managing SA Public Sector superannuation schemes in line with relevant governing legislation and instruments.

This arises from section 10(3) of the Superannuation Act 1988, which enables the Board to make use of the staff or facilities of an administrative unit of the SA Public  Sector, with the approval of the Minister of that administrative unit. Super SA, a branch of the Department of Treasury and Finance, provides administrative services to the Board on this basis.

The Board's service level contract with the Under Treasurer sets out specific performance standards. The contract expired on 30 June 2023, with a new contract commencing for a term of three years with effect from 1 July 2023.

The annual budget for the operation of Super SA is presented to the Board for its approval.

The use of consultants, contractors, Work, Health and Safety reporting and executive employment statistics are included in the Department of Treasury and Finance's Annual Report.

Funds SA

Funds are managed by a specialist investment manager, Superannuation Funds Management Corporation of South Australia (Funds SA). Funds SA manages the investments for each scheme in accordance with sections 17 and 19 of the Superannuation Act 1988, sections 10 and 11 of the Southern State Superannuation

Act 2009, and the provisions of the Superannuation Funds Management Corporation of South Australia Act 1995.

The current Memorandum of Agreement between Funds SA and Super SA was executed in February 2022. Funds SA provides this service under legislation. The agreement is reviewed on a three yearly basis or when a significant change occurs.

¹ The Super SA office also provides administration services to other public sector superannuation funds, which are governed by other Boards and the Treasurer, i.e. Southern Select Super Corporation Board, Parliamentary Superannuation Scheme Board, Governors’ Scheme Pension Fund and Judges’ Scheme Pension Fund.
² Gregory Boulton AM, was Presiding Member of the Super SA Board from 1 July 2022 until the conclusion of his term appointment on 8 September 2022.
³ Board member participation in out of session decisions made by circular resolution as defined in the Board’s regulations have also been included.
⁴ Gregory Boulton AM, was Presiding Member from 1 July 2022 until the conclusion of his term appointment on 8 September 2022.

Performance at a glance

Super SA’s performance is assessed continuously against key objectives every quarter. This will ensure the projects and initiatives conducted throughout the year are aligned to meet the key objectives.

Over the last financial year, Super SA has delivered on a number of multi-year initiatives that focus on improving the fund’s operating model and continue to enhance services to members:

• Operational implementation of fund selection and limited public offer
• Technology roadmap and target operating model review
• Ongoing implementation of the recommendations of the ICAC’s Evaluation of the practices, policies and procedures of Super SA
• Project management office upgrade - change management
• New modern staff intranet
• Continued low account balance consolidation / transfers to the Australian Taxation Office (ATO).

Super SA has aligned itself with the Australian Prudential Regulatory Authority (APRA) standards, where possible. The Heads of Government Agreement on superannuation requires that Super SA use a best endeavours approach to do so. In striving to achieve this we have undertaken:

• Ongoing development of a SPS515 Strategic Planning and Member Outcomes framework for Super SA and implemented changes to budgeting, business planning and business case preparation
• Ongoing delivery of the Protecting Your Super program that addresses account erosion due to excessive fees
• SuperStream Rollover upgrade to meet ATO requirements
• Continued development of a cyber security strategy in line with Australian Prudential Regulation Authority’s CPS 234 Information Security and CPS 231 Material Outsourcing.

Agency contribution to whole of Government objectives

Key objective	Agency’s contribution
Lower costs	Net investment returns comparative to Super SA’s key competitors Fees – in the most cost-efficient quartile of funds
Better Services	Implementation and operational delivery of fund selection and limited public offer providing members with choice since 30 November 2022.

Agency specific objectives and performance

	2022-23 Actual	2022-23 Target	2021-22 Actual	2021-22 Target	2020-21 Actual
Achievement of approved service level standards by 30 June each year	73%	90%	68%5	90%	85%
Benchmarking of administrative costs with industry standards — remain in the most cost- efficient quartile of industry standards* while providing additional services to members.	In the most cost- efficient quartile	In the most cost- efficient quartile	In the most cost- efficient quartile	In the most cost- efficient quartile	In the most cost- efficient quartile

^{*Based on last available Chant West Super Fund Fee Survey (June 2023)}

Agency objectives	Indicators	Performance
Member and Employer Engagement – to enhance the member experience to drive engagement, activation and retention	Achievement of service level standards target 90%	Not Achieved  73%
	Complaints management target 250 complaints per year	249
	Education registrations target 20,000 members	Achieved 24,669
Future Proofing - Transform the Fund for long-term sustainability	Introduce fund selection and limited public offer facility for members of the Triple S scheme	Achieved Implemented 30 November 2022
Competitive Products	SuperRatings rating	Achieved Triple S received Gold Rating from SuperRatings
Future Proofing - Transform the Fund for long-term sustainability	Review the target operating model and registry system	Achieved Review completed
Future Proofing - Transform the Fund for long-term sustainability	Review technology target operating model in line with cyber security industry best practice	Achieved Completed - 3 year plan developed in line with Technology Roadmap
Future Proofing - Transform the Fund for long-term sustainability	Conduct the three yearly review of insurance premium settings	This was undertaken in 2021 and a new premium setting will be introduced in 2023
Future Proofing – Transform the Fund for long-term sustainability	Conduct the three yearly review of insurance premium settings	Achieved Completed March 2023
Member Centric Culture – To engage employees to deliver an efficient and member centric service	Staff culture target 70%	Achieved 76%

 

Corporate performance summary

In measuring fund sustainability, Super SA monitors the funds under management by scheme.

Funds under management

The comparison of the 2023 and 2022 funds under management by scheme is shown in the graph below.

Investment returns for Triple S

The comparison of the 2023 and 2022 investment returns for Triple S over each investment option is shown in the graph below:

⁵ Service level standards were impacted across the organisation due to additional security measures applied due to the December 2021 SA Government Frontier data breach.

Financial performance at a glance

The funds under management was $35.6 billion as at 30 June 2023.The total number of members as at 30 June 2023 was 215,318 which represents an increase of 5,188 members from the prior year. This figure comprises the following categories of members:

• Triple S active and preserved
• Pension Scheme superannuant, active and preserved
• Lump Sum Scheme active and preserved
• SA Ambulance Service Superannuation Scheme active and preserved
• Super SA Income Stream active, and
• Flexible Rollover Product active.

No. of contributors/ members in state schemes:	2022-23 Forecast	2022-23 Actual	2023-24 Forecast
Members	209,439	215,318	215,751
Triple S (total)	173,021	177,907	177,907
Non-contributors	98,156	96,929	95,723
Salary Sacrifice contributors only	20,182	18,735	18,750
After Tax contributors only	7,838	8,204	7,916
Both After Tax and Salary Sacrifice	3,134	2,693	2,264
Preserved > $6000 account balance	32,444	35,288	37,197
Preserved < $6000 account balance6	11,267	16,058	16,058
Flexible Rollover Product	8,362	8,074	8,576
Income Stream	12,063	13,381	14,032
Superannuants	13,282	13,262	12,905
Other retirement schemes (Pension, Lump Sum, SA Ambulance)7	2,711	2,694	2,331
Pension	203	207	151
Lump Sum	1,928	1,920	1,656
SA Ambulance	580	567	524

The total Triple S preserved membership rose by 7,635 individuals, reaching a new total of 51,346 members. However, Triple S active members only declined by 2,749 resulting in an increase in total Triple S membership. All open schemes increased in membership. All closed schemes continued to decline in membership.

Below is a summary of the number of preserved members as at 30 June 2023 (preserved membership numbers as at 30 June 2022 is shown for comparison).

No. of preserved members in state schemes:	30 June 2023	30 June 2022	change
Members	52,248	44,721	7,527
Triple S (total)	51,346	43,711	7,635
Pension	114	143	(29)
Lump Sum	710	786	(76)
SA Ambulance	78	81	(3)

Other financial information

The State Government has a strategy to fund both its accruing and accrued past service superannuation liabilities by 30 June 2034.

South Australian Superannuation Fund

Esther Conway, an actuary with Mercer Consulting (Australia) Pty Ltd, performed the actuarial review of the South Australian Superannuation Fund (Pension and Lump Sum Schemes) as at 30 June 2022, and the results are contained in a report dated 23 June 2023.
The review was performed to meet the requirements of section 21 of the Superannuation Act 1988, which stipulate actuarial reviews be undertaken every three years. This section of the Act requires the actuary to provide a report on the following aspects:

• the cost of the scheme to the State Government at the time of the report and in the foreseeable future
• the proportion of future benefits under Part 5 of the Act that can be met from the Fund.

The next actuarial review of the South Australian Superannuation Fund (Pension and Lump Sum Schemes) will be performed as at 30 June 2025.

Triple S Insurance Pool

A triennial review of the Triple S Insurance Pool as at 30 June 2022 was performed by Nathan Bonarius, an actuary with PricewaterhouseCoopers (PwC).
This report was prepared in accordance with the requirements of section 17 of the Southern State Superannuation Act 2009.
The report assesses:
• the cost and funding of insurance benefits provided through the scheme as at 30 June 2022
• the extent to which the premiums paid by members and held by the Board are sufficient to meet the scheme's anticipated liabilities at 30 June 2022 and in the foreseeable future.
The next actuarial review of the Triple S Insurance Pool is due to be performed as at 30 June 2025.

 

SA Ambulance Service Superannuation Scheme

Esther Conway, an actuary acting on behalf of Mercer Consulting (Australia) Pty Ltd, performed the actuarial review as at 30 June 2020 to meet the requirements of the scheme’s governing rules, which stipulate that actuarial reviews are to be undertaken every three years.

The next actuarial review of the SA Ambulance Superannuation Scheme is due to be performed as at 30 June 2023.

Full audited financial statements for 2022-2023 are attached to this report.

⁶The Super SA Board has agreed to opt into the Commonwealth's Inactive Low Balance Account regime for Triple S.
⁷Comprises both active and preserved members.

Risk and audit at a glance

The Super SA Governance and Risk team’s responsibilities include oversight of risk management, compliance, the Board’s anti-money laundering and counter-terrorism financing program, incident management and business continuity management. The team also manage internal audit reviews conducted by an external provider.

Fraud detected in the agency

Category/nature of fraud	Number of instances	Financial Impact to Super SA ($)
Fraudulent transactions attempted by external parties on member accounts	7	NIL
Applications for unauthorised early release of superannuation on compassionate grounds	10	NIL

^{NB: Fraud reported includes actual and reasonably suspected incidents of fraud.}

Strategies implemented to control and prevent fraud

To ensure a strong control environment exists to prevent the occurrence of fraud, the Super SA office has implemented strong monitoring and validation controls over benefit payments, including verification with members of large benefit payment requests, system-based identification of unusual member account activity, validation of proof of identity prior to payment and independent review and authorisation of all benefit payments.

Regular information is provided to the Super SA Board from internal and external audit, the Audit, Risk and Finance Committee and the Chief Executive.

The Super SA office maintains the Board’s Risk Management Strategy and Plan; a Business Continuity Framework and Plan; an Internal Audit Plan; a Compliance Framework and an Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Program.

Data for previous years is available here.

Reporting required under any other act or regulation

Act or Regulation	Requirement
Section 29(1) - Southern State Superannuation Act 2009	The Board may give such directions as are reasonably necessary to resolve a doubt or difficulty that arises under the Act/regulations or circumstances that has arisen that are not addressed under the Act/regulations and any such direction will have effect according to its terms. If the Board gives such a direction, the Board’s report to the Minister in the financial year in which the action is taken must include details of the action. Details to be reported.Nil
Section 29(2)(a) - Southern State Superannuation Act 2009	If, in the opinion of the Board, a time limit under this Act or the regulations should be extended in particular circumstances, the Board may extend the time limit (even if it has already expired). If the Board extends a time limit, the Board’s report to the Minister in the financial year in which the action is taken must include details of the action. Details to be reported: 85 (with further details of applicable extended time limits set out below):
	Applicable legislative reference		Number of times the power to extend the time limit was exercised
	Section 25(1a)	The time limit by which a member must request a review by the Super SA Board of a decision (within 3 months of receiving notice of the decision)	1
	Reg 36AA(1)	The time limit by which a member must apply for income protection benefits (within 6 months of first absence from work, or within 6 months of ceasing workers compensation/leave)	37
	Reg 48(8) & (9)	The time limit by which a Triple S member/spouse member is required to invest in the Flexible Rollover Product and continue death and Total and Permanent Disablement (TPD) insurance (60 days)	35
	Reg 6(4)(a)(i)(C) & 58(12)	The time limit by which a member must lodge a TPD claim (2 years from termination of employment)	12
Section 29(2)(b) - Southern State Superannuation Act 2009	If, in the opinion of the Board, a procedural step under this Act or the regulations should be waived in particular circumstances, the Board may waive compliance with the procedural step. If the Board waives a procedural step, the Board’s report to the Minister in the financial year in which the action is taken must include details of the action. Details to be reported: 1 (with further details of applicable  waiver of procedural steps set out below):
	Applicable legislative reference		Number of times the power to waive a procedural step was exercised
	Reg 37(4) and 37A	Waiver of procedural step to apply for income protection insurance in certain circumstances.	1
Schedule 3, section 10 Superannuation Act 1988	Super SA must, in conjunction with each annual report of the Board under this Act, provide a report on the operation of this Schedule in relation to any administered scheme that is within the ambit of a declaration under clause 2(1)(b) during the financial year to which the annual report relates. The report must include— a) a copy of any accounts or financial statements that are required to be audited under this Schedule in respect of each relevant scheme for the financial year; and b) if a fund has been managed under Part 3 Division 1 in respect of any part of the relevant financial year—a copy of the audited accounts and financial statements for that fund provided by the Superannuation Funds Management Corporation of South Australia. Details to be reported: The report on the operation of the SA Ambulance Service Superannuation Scheme and requisite financial statements is included within this annual report.
Superannuation (Unclaimed Money and Lost Members) Act 1999 (Cwth)	Pursuant to this legislation, prescribed exempt public sector superannuation schemes are permitted, rather than required, to transfer amounts to the ATO. A number of Super SA Schemes are prescribed within the Commonwealth legislation and the Super SA Board has set policies in relation to which unclaimed money, lost members and inactive low balance accounts are to be transferred to the ATO.
Unclaimed Money (Part 3, Section 18AA)	Triple S accounts were transferred to the ATO on 27 and 28 October 2022 (30 June 2022 reporting) and 27 April 2023 (31 December 2022 reporting) a total of $3,984,909.94 covering 262 members
Lost Accounts (Part 4A section 24HA)	Triple S accounts were transferred to the ATO on 27 and 28 October 2022 (30 June 2022 reporting) and 27 April 2023 (31 December 2022 reporting) for $761,676.78 covering 415 members
Inactive Low Balance Accounts (Part 3B, section 20QH)	Triple S accounts were transferred to the ATO on 27 and 28 October 2022 (30 June 2022 reporting) and 27 April 2023 (31 December 2022 reporting) to the value of $3,303,052.40 and covering 2,349 members

Public complaints

Number of public complaints reported

Complaint categories	Sub-categories	Example	Number of Complaints 2022-23
Professional behaviour	Staff attitude	Failure to demonstrate values such as empathy, respect, fairness, courtesy, extra mile; cultural competency	1
Professional behaviour	Staff competency	Failure to action service request; poorly informed decisions; incorrect or incomplete service provided	0
Professional behaviour	Staff knowledge	Lack of service specific knowledge; incomplete or out-of-date knowledge	0
Communication	Communication quality	Inadequate, delayed or absent communication with customer	29
Communication	Confidentiality	Customer’s confidentiality or privacy not respected; information shared incorrectly	4
Service delivery	Systems/technology	System offline; inaccessible to customer; incorrect result/information provided; poor system design	25
Service delivery	Access to services	Service difficult to find; location poor; facilities/ environment poor standard; not accessible to customers with disabilities	2
Service delivery	Process	Processing error; incorrect process used; delay in processing application; process not customer responsive	136
Policy	Policy application	Incorrect policy interpretation; incorrect policy applied; conflicting policy advice given	6
Policy	Policy content	Policy content difficult to understand; policy unreasonable or disadvantages customer	31
Service quality	Information	Incorrect, incomplete, outdated or inadequate information; not fit for purpose	4
Service quality	Access to information	Information difficult to understand, hard to find or difficult to use; not plain English	0
Service quality	Timeliness	Lack of staff punctuality; excessive waiting times (outside of service standard); timelines not met	0
Service quality	Safety	Maintenance; personal or family safety; duty of care not shown; poor security service/ premises; poor cleanliness	0
Service quality	Service responsiveness	Service design doesn’t meet customer needs; poor service fit with customer expectations	0
No case to answer	No case to answer	Third party; customer misunderstanding; redirected to another agency; insufficient information to investigate	3
Investments	Investments	Investment fees; Dissatisfaction with investment of assets	6
		Total	249

Additional metrics	Total
Number of positive feedback comments	122
Number of negative feedback comments	43
Total number of feedback comments	165
% Complaints resolved within policy timeframes	79% within 45 days (for responses issued in the 2022-23 financial year)

Data for previous years is available here.

Service improvements

• Implemented the new industry best-practice disputes resolution process on 1 July 2022, which better aligns to the Australian Securities and Investment Commission’s regulatory guide - RG271 Dispute Resolution. The new process makes it easier for our members to raise a complaint and imposes more stringent recording and reporting of complaints, including the identification of trends and systemic issues.
• With the implementation of the new disputes resolution process, the Board set a key performance indicator to keep complaint numbers below 250 for the 2022-23 financial year and this was achieved with 249 complaints received.
• New Fund Selection, portability and Limited Public Offer (LPO) arrangements were introduced. The new regime provides eligible members with more options and flexibility in regard to their superannuation.
• Engagement of a new medical advisory service to enhance the claims assessment and insurance process and reduce turnaround times.
• Further revised the Board delegations to allow for a more simplified and streamlined payment process for smaller, or low risk payments, to improve response times.
• Introduced rules and processes to enable the acceptance of electronic or digital signatures on instructions from members in particular (low-risk) circumstances to streamline our processes and make it simpler and easier for members.
• Made further improvements to the member online portal to make it easier for members to register, while maintaining enhanced security measures.
• Revised the communication option to ‘electronic’ as a default for all members who are registered with Member Portal, to provide faster and safer communication.
• Updated the Annual Statements to communicate important information, including details around insurance premiums, the effect of low balance accounts on insurance and the distribution of payments upon death.
• Revised numerous communications, including forms and fact sheets to provide clearer information and instructions.
• Improvements to a number of other communications, including confirmation to members who purchase insurance, or who are claiming insurance benefits, to pre-empt queries and reduce confusion.

Compliance statement

Super SA is compliant with Premier and Cabinet Circular 039 – Complaint Management in the South Australian Public Sector (PC039)	Y
Super SA has communicated the content of PC 039 and the agency’s related complaints policies and procedures to employees	Y

The Super SA Board has its own complaints policy, based on the timelines and processes adopted by the superannuation industry.

⁸ Disclosure of public interest information was previously reported under the Whistleblowers Protection Act 1993 and repealed by the Public Interest Disclosure Act 2018 on 1/7/2019.

View the Audited financial statements 2022-23