Kate Farrar

Nuveen, a global asset manager with $1.4 trillion in assets under management[1], has secured investments from Australian institutional investors into a dedicated Australian portfolio managed by Arcmont Asset Management (“Arcmont”). Arcmont, an investment affiliate of Nuveen, is a leading European private credit asset management firm with A$74 billion of investable capital, providing flexible capital solutions to a wide range of businesses in Europe.

Brighter Super, JANA Private Credit Trust and two other Australian institutional investors have committed a combined A$705 million to the strategy, which has been established to provide Australian investors access to a portfolio of senior secured, unitranche and subordinated loans to European mid and upper-mid-sized companies, with a focus on non-cyclical, defensive sectors.

In the past 15 years, Arcmont has raised capital from over 495 global investors across its Direct Lending, Senior Loan, NAV Financing, Impact Lending and Capital Solutions strategies and fostered a network of more than 135 sponsor relationships throughout Europe.

Kate Farrar, CEO of Brighter Super, said: “This investment reflects our focus on high-quality private credit opportunities that can provide resilient income and diversification for members. Arcmont’s disciplined investment approach and deep European market expertise make the strategy a strong fit within our broader private market portfolio.”

Anthony Fobel, CEO of Arcmont, said: “Private credit continues to play an important role in institutional portfolios globally, particularly as investors seek diversified sources of income and exposure to strategies with defensive characteristics. We are delighted to partner with these leading Australian investors through a dedicated solution that provides efficient access to Arcmont’s European direct lending platform at significant scale. We look forward to supporting their investment objectives through our disciplined investment approach, strong sponsor relationships and long-term partnership mindset, hallmarks of Arcmont’s strategy for more than a decade.”

Andrew Kleinig, Head of Australia for Nuveen, said: “This is a significant milestone for our Australian institutional partnerships and reflects the growing appetite among local investors for high-quality, income-generating private credit strategies. European direct lending offers compelling diversification potential that is not readily accessible in the domestic market, and we are delighted to be able to offer Australian institutions tailored access to Arcmont’s highly regarded platform. We look forward to deepening these relationships and continuing to bring the best of Nuveen’s global capabilities to our partners here in Australia.”

Notes:
[1] As of June 30, 2026

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Kate Farrar

Brighter Super has announced plans to deliver a new lifetime innovative retirement income solution providing income for life which is designed to enable eligible members to begin building future lifetime income benefits while they are still working.

The announcement marks a significant step in Brighter Super’s strategy to improve retirement outcomes. Brighter Super is also the first member-owned fund to announce the development of this style of product, that enables eligible members still in the accumulation phase to begin building future potential Age Pension benefits while still enabling choice as to how their super is invested.

Australia’s superannuation system has been highly successful in helping people accumulate retirement savings, but many Australians remain uncertain about how to convert those savings into a reliable income that lasts throughout retirement.

The new solution is designed to help address this challenge by allowing eligible members to begin building future lifetime income benefits during their working years, with greater income certainty and longevity in their retirement years. Together, these features will help them feel more confident about their financial future in retirement.

By beginning to accrue these benefits during the accumulation phase, members may be able to increase their overall retirement income, potentially improve their Age Pension outcomes depending on their individual circumstances, and gain greater flexibility and choice in how they structure their income in retirement.

Brighter Super’s modelling suggests members could receive additional income of between $70,000 and $95,000 on average over 25 years of retirement^[1].

Brighter Super Chief Executive Officer Kate Farrar said the announcement reflected the fund’s commitment to helping members achieve better retirement outcomes.

“Australians have become very good at building super balances. The next challenge for our industry is helping people turn those balances into an income that provides confidence throughout retirement.”

“Bringing this approach to the member-owned sector is an important step. Rather than waiting until retirement to start thinking about lifetime income, we’re helping members begin preparing and maximising future retirement income outcomes while they’re still working.”

The initiative builds on Brighter Super’s growing retirement offering, which was recently recognised with the Epic Retirement Tick^[2]. The new solution will further strengthen the fund’s support for members as they move from accumulating super to using their super to provide an income in retirement.

Brighter Super will develop the solution in partnership with leading life insurer TAL, who will provide the lifetime income guarantee underpinning the retirement solution.

Jenny Oliver, Chief Executive, Group Life & Retirement at TAL, said the partnership reflected a shared commitment to improving retirement outcomes for Australians.

We’re focused on helping more Australians have a confident retirement. TAL is proud to partner with Brighter Super on this lifetime income solution, because we’re passionate about helping more people plan for retirement and enjoy access to savings that can last for life.”

The solution will be introduced progressively, with the accumulation feature expected to become available to eligible members in the first half of 2027 and the guaranteed lifetime income option in 2028.

Together, the two components are intended to provide members with a connected pathway – from building retirement savings and future income benefits while they work to receiving a guaranteed income for life in retirement. Further details, including eligibility and how the accumulation feature will operate, will be announced as the delivery progresses.

———-

Notes:
[1] Illustrative modelling supported by WTW at 26 June 2026. Using representative Brighter Super member cohorts aged 24 to 59, with balances of approximately $27,000 to $293,000 and salaries of $72,000 to $117,000. It assumes a 20% lifetime income / 80% account-based pension allocation, an overall 73.5% growth / 26.5% defensive asset mix. Key assumptions include 7.23% p.a. long term return, 2.48% p.a. inflation and 3.68% p.a. wage growth. Modelling is illustrative only and is not financial advice or a guarantee of future outcomes.
[2]The Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 (Chant West) Epic Retirement Tick issued 2 October 2025 is solely a statement of opinion and not a recommendation in relation to making any investment decisions. The Tick is current for 12 months and subject to change at any time without notice. Ticks from previous years are for historical purposes only. Liability is not accepted, whether direct or indirect, from use of the Tick. Full details on the Tick at www.chantwest.com.au/solutions/epic-retirement-tick/.

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Kate Farrar

Australians are significantly less confident about retirement than they were six months ago, with retiree confidence falling from 60% to 47% and pre-retiree preparedness declining from 38% to 31%, according to 2026 research findings released last week by Brighter Super, Queensland’s third-largest non-government financial institution.

New data from Brighter Super’s 2025–26 State of Retirement report suggests the gains in 2025 may have been influenced by stronger investment markets and easing inflation, rather than sustained improvements in long-term financial preparedness.

The decline in 2026 comes amid ongoing cost-of-living pressures, market volatility and renewed uncertainty about the global economic outlook.

“This report reinforces how quickly sentiment can shift with changing economic conditions, and the need to focus on long-term preparedness rather than short-term confidence,” said Brighter Super CEO Kate Farrar.

“The data suggests many Australians still judge their retirement readiness through the lens of recent market performance rather than long-term financial preparedness,” she said.

The findings are drawn from surveys conducted in 2024, 2025 and 2026 by Investment Trends, an independent research and insights company.

“The data also shows Queensland continues to outperform national averages, while Brighter Super members report stronger outcomes than both state and national benchmarks,” said Investment Trends Head of Research Julian Cappe.

Across all states, retiree confidence and pre-retiree preparedness declined. Despite this, Queensland’s retiree confidence rate of 50% outperformed the national rate of 47%, while pre-retiree preparedness in Queensland was 33% compared with 31% nationally.

“It’s pleasing to see Queensland sitting just ahead of the national results, but there is more work to be done. Our research shows Australians who plan early are nearly twice as likely to enjoy a comfortable retirement,” Ms Farrar said.

The sharp reversal in national sentiment highlights a broader challenge for the superannuation sector: confidence remains highly sensitive to market conditions. Previous Brighter Super research found retirees experiencing financial strain were significantly more likely to fear outliving their retirement savings, highlighting the gap between short-term confidence and long-term financial resilience.

“This reinforces the importance of engaging members earlier in their retirement journey, before uncertainty and market volatility begin to influence decision making,” Ms Farrar said.

At a fund level, Brighter Super outperformed both state and national benchmarks, with member retirement confidence rising to 76% in 2026, up from 50% in 2024, while pre-retiree preparedness remained steady at 38% despite national and state declines.

“This highlights the impact of our sustained investment in accessible guidance and affordable advice. We’re committed to ensuring all members can retire confidently with the help of advice,” she said.

That commitment was recognised when Chant West awarded Brighter Super ‘Best Fund: Advice Services 2026’. The award recognises funds offering a strong range of advice services that are relevant and accessible to members.

Read the report.

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Mr O’Farrell brings two decades of experience as a director and 25 years as a senior superannuation industry executive. He is the Chair of Economic Development Queensland (EDQ) and Clubs Queensland and sits on the Board of the Queensland Rugby League, Stadiums Queensland and the Brisbane Broncos Leagues Club.

As a senior superannuation executive, Mr O’Farrell served as General Manager of Mercy Super and was the Chief Executive and Chief Investment Officer for InTrust Super from 2005 to 2021 and City Super from 2003 to 2005.

Brighter Super Chairman John Smith said he was delighted Mr O’Farrell would be joining the Board as an independent director.

“Brendan brings exceptional experience as both a seasoned director and respected superannuation executive, with a strong track record of guiding organisations to deliver meaningful outcomes for their communities.

“His extensive governance expertise – including leadership roles across Economic Development Queensland, Clubs Queensland and the Queensland Rugby League – will further strengthen our Board’s capability as we continue to grow and deliver long-term value for our members. We look forward to benefiting from Brendan’s deep industry insight and commitment to serving Queenslanders.”

Mr O’Farrell becomes the fourth new member this year of the Brighter Super Board following the appointment of Cameron O’Neil in March, Rebecca Girard in April and Corinne Butler in July.

Capping a year of significant renewal, Ron Dewhurst will become Brighter Super Chairman from 1 December 2025 after the retirement of Mr Smith after 12 years on the Board.

Mr Smith, who was appointed to the LGIAsuper Board in 2013 and became Chair in 2016, oversaw the mergers which created a $36 billion superannuation fund with more than 348,000 members. Brighter Super has since delivered consistent strong performance, cut administration fees and emerged as Queensland’s fourth-largest non-government financial institution*.

Mr Smith also thanked Teresa Dyson who will leave the business on 31 December 2025 after acting as a specialist adviser to the Board from 9 July 2025. Ms Dyson assumed the role after stepping down as a director on 8 July 2025 after a combined eight years of dedicated service to Brighter Super and Energy Super.

Kate Farrar Brighter Super Chief Executive Officer welcomed Mr O’Farrell to the Board, congratulated Mr Dewhurst on his forthcoming appointment as Chairman and thanked Ms Dyson for her contribution to the fund.

Ms Farrar said the Board changes would position Brighter Super to embrace future growth and thanked Mr Smith for his 12 years on the Board and nine years as Chair.

“John will leave a strong legacy of resilience, growth and unwavering focus on helping our members live confidently through every stage of life,’’ Ms Farrar said.

“John’s extraordinary leadership and steady hand have been vital as we navigated the merging of three funds over recent years ultimately growing Brighter Super to become one of Australia’s leading member-owned funds.’’

———-

^*Based on assets under management of non-government financial institutions in Queensland.

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Kate Farrar

Kate Farrar, CEO of Brighter Super, is the 2024 Fund Executive Association Limited (FEAL) Fund Executive of the Year.  

Last night at the FEAL Members’ Dinner in Melbourne, Ms Farrar was announced as the award recipient for demonstrating exceptional vision, drive and courage in her leadership of Brighter Super during periods of transformation and growth for the fund.  

The annual award, now in its 23^rd year, honours a superannuation fund executive who has made an outstanding contribution to their fund and the super industry. The award recognises and fosters innovation and the development of strong, skilled executives in a continuously changing environment. The recipient receives an education grant of $30,000 sponsored by QIC to undertake an executive education program at an international business school of their choosing.  

FEAL Chairperson Brian Delaney said Ms Farrar’s leadership of Brighter Super was reflected in the outstanding achievements of her team and the fund for the benefit of its members.    

‘As CEO of Brighter Super, Kate embarked on a strategic plan over several years that was aimed at expanding the fund and enhancing member services, which led to an increase in both membership and the fund’s assets,’ Mr Delaney said. 

‘After completing two mergers, including the first acquisition of a retail fund by an industry fund, she has introduced a unique ’boutique at scale’ model to achieve organic growth and benefits for Brighter Super members. Leveraging technological efficiencies post the mergers has enabled Brighter Super to deliver additional value to their members. Benefits such as an adviser portal to support 1,300 independent financial advisers for personalised advice, reduced member fees for some members by up to 70%, and improved investment returns, ranking in the top five for industry funds in FY23^[1]. 

‘Her commitment to innovation, high-quality services, and cost reduction has supported a promising future for the fund and tangible benefits for its members.’ Mr Delaney said. 

In accepting her award, Kate Farrar said, ‘It’s a tremendous endorsement of the strategy and work of the team at Brighter Super, who have tirelessly delivered on our program of transformation and growth, realising the benefits of our mergers for our members. Delivering strong performance, low fees and personal advice and support to help our members retire with confidence.’

This year, QIC took on sponsorship of the FEAL Fund Executive of the Year Award from T.Rowe Price. QIC has been a sponsor of FEAL since 2013, but this is the first year that it has sponsored Fund Executive of the Year.  

Kylie Rampa, CEO at QIC, the award’s sponsor, added, ‘As the proud sponsor of the FEAL Fund Executive of the Year Award, we congratulate Kate on receiving this honour in recognition of her dedication to providing excellent service to members and contributing to innovation in the super industry more broadly. Her leadership embodies the spirit of the award.’ 

FEAL has also recently welcomed sponsorship from AIA Australia for the Michael Dwyer Leadership Scholarship, which was awarded last night at the Members’ Dinner to Mark Lyons, Chief Capability Officer, at Care Super and Iress for the MBS Masters Program Scholarship, which was awarded to Alana Scheiffers, General Counsel, at Commonwealth Superannuation Corporation. Perpetual previously sponsored the Michael Dwyer Leadership Scholarship and QIC sponsored the MBS Masters Program Scholarship.  

In thanking FEAL’s sponsors, FEAL CEO Katrina Bacon said, ‘The generosity of our current and previous sponsors enables us to support and highlight the positive contribution that super fund leaders make to their memberships and the industry more broadly, and we are very grateful for their support.’   

———

Notes:
[1] https://www.lonsec.com.au/2024/01/19/media-release-super-funds-sail-through-the-storm-in-2023/

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Tim Steele

The SMSF sector will put itself under the microscope at the Thought Leadership Breakfast (TLB) being held on the opening morning of this year’s SMSF Association’s National Conference at the Brisbane Convention & Exhibition Centre from 21-23 February.

An expert four-member panel will examine the challenges facing the sector that include the potential for more regulatory intervention and the growing attention that APRA-regulated funds are giving to the de-accumulation phase of superannuation and longevity risk.

Session moderator Class CEO Tim Steele will be joined by panel members: SMSF Association CEO Peter Burgess, Heffron Consulting Managing Director Meg Heffron, KPMG Partner Linda Elkins, and Brighter Super CEO Kate Farrar, as they hold up a mirror to the SMSF sector and examine where its strengths lie and where it needs to “level up”.

Burgess says the TLB has become an important forum for the sector to take a close look at long-term issues and trends confronting SMSFs and the wider superannuation system and this year’s event will be no different.

“Over the past decade, we have witnessed APRA funds experience significant change, often driven by government intervention, such as performance benchmarking, additional statutory reporting, compulsory member communications, and mandatory retirement support.

“This intervention, which has been designed to improve the system by protecting member benefits and enhancing their outcomes, has largely bypassed our sector.

“But the question we now ask is this all about to change, and, if so, how?

“In the past we have often been immune to the changes in the broader superannuation sector, but has this been a fool’s paradise that puts our sector at risk of being left behind?

“Do we need to be more open-minded when it comes to regulatory intervention, or do we remain wedded to the status quo that has served us well in the past, understanding that APRA funds are rapidly changing, particular as they focus more on the pension phase, an issue where we have long been the industry leader?”

Burgess says the Association has deliberately sought input into the debate from an APRA fund – a first for the TLB – in the form of the Queensland-based Brighter Super that has more than 250,000 members and about $30 billion in funds under management (FUM).

“Up till now APRA funds have focussed on the accumulation phase. But as they turn their attention to the de-accumulation phase – a space we have traditionally dominated – with the prospect of mandatory retirement support for members looming, will the tables turn?

“Certainly, hearing the views of Brighter Super’s Farrar on these issues should be necessary listening from all conference delegates,” he says.

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Justin Delaney

Zurich Financial Services Australia (Zurich) has announced it has been appointed by Brighter Super to provide group insurance for its members from 1 July 2023.

Queensland-based Brighter Super manages approximately $30 billion in assets on behalf of around 250,000 members.

Justin Delaney, Chief Executive Officer, Zurich Australia & New Zealand said: “Zurich has made a significant commitment to group insurance globally and is focused on bringing the best of the wider Zurich enterprise for the benefit of superannuation members.”

“We are excited at the opportunity to deepen our partnership with Brighter Super to support their members with great value and fantastic service,” Mr Delaney said.

Darren Wickham, Head of Group Insurance, Zurich Australia said: “Zurich and Brighter Super share a common commitment to providing market leading services to members. Through this new agreement, Brighter Super members will have access to Zurich’s award-winning claims service, health and wellness offerings and sustainability initiatives.”

Kate Farrar, Chief Executive Officer, Brighter Super said: “The decision was ultimately guided by which offering was in the best financial interest of our members, and we are delighted to deepen our partnership with Zurich as a key strategic partner to our business.”

“Zurich’s purpose is to create a brighter future together, and this outlook obviously resonated for our business,” Ms Farrar said.

Zurich currently provides group insurance for the Energy Industry division of Brighter Super. Brighter Super members will not see any changes to the terms of their policies or coverage because of this change.

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Kate Farrar

Breaking down the barriers that women face on the road to retirement begins in the boardroom of financial service companies, says LGIAsuper and Energy Super CEO Kate Farrar.

The latest available data from the Australian Government’s Workplace Gender Equality Agency (WGEA) shows less than one third (28.9%) of key management personnel in the financial sector are female, which is 1.6% lower than the average across all industries.

Ms Farrar said that outperforming industry averages for gender inclusion in senior leadership roles, enabled the newly merged profit-for-member fund LGIAsuper and Energy Super to better understand the unique challenges women face when saving for retirement.

“More than one third of our executive team and our board are women, which is an achievement we are incredibly proud of,” she said.

“We want to help all of our members build a better future, and we know that in the case of women’s superannuation this requires a different way of thinking.”

“It’s no secret women are at a distinct disadvantage when it comes to their superannuation – the costs of unpaid labour as a parent, together with the impact of pay inequality, amount to women taking home less than their male counterparts.”

“By ensuring we have women in leadership positions, we can champion a diversity of voices to better understand our member’s varied life experiences,” Ms Farrar said.

Ms Farrar said it was especially important to consider women’s financial futures post-COVID-19.

“Since April 2020, data shows* Australian women have withdrawn a total of $13 billion from their retirement savings, with over 300,000 of these women having completely emptied their accounts,” she said.

“What we don’t want to see happen is these women reaching retirement age and having to work or rely on the age pension to avoid experiencing poverty.”

“We offer a range of resources, such our Super Essentials for Women webinar on the 8th March and our Women and Superannuation online tutorial in addition to no cost Super Health Checks with our super specialists that help our members understand how they can make the most out of their superannuation,” Ms Farrar said.

Our Super Essentials for Women webinar on the 8^th March is available for all members and non-members.  If you would like to attend register here

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Kate Farrar

Queensland’s latest member-owned super fund has officially formed on July 1 with the finalisation of the merger between superannuation providers LGIAsuper and Energy Super.

With around $22 billion in member savings under management, the 120,000-member strong fund, set to be the third largest based in Queensland, will serve as a leader in the boutique profit-for-member superannuation space, offering increased size, scale and ultimately, reduced costs for members.

The merged entity will be led by LGIAsuper CEO Kate Farrar, who will also oversee the fund’s planned acquisition of Suncorp’s superannuation business, Suncorp Portfolio Services Ltd (SPSL), in the first half of 2022.

Once completed, the two transactions will see a combined fund size of around $28 billion under management with an approximate membership of 250,000.

Ms Farrar, an award-winning business leader who has led LGIAsuper for more than three years, said the successful merger of the two funds followed months of negotiations, regulatory consultation and extensive due diligence.

“In a rapidly changing superannuation sector, we need to remain agile and responsive to ensure the best outcomes for members. I believe we have done that today,” Ms Farrar said.

“The successful transition of our two organisations into one fund today, with a single MySuper product, is a credit to our staff and partners within both organisations.

“Both organisations brought similar strengths and a strong commitment to members to this partnership.

“There is now an exceptional opportunity for a merged fund with such a unique offering to deliver a personalised service that provides members with the best possible outcomes.

The two entities will continue to operate under their existing brands for the time being, with call centers, workplace visits, access to advice and great personal service remaining the same.

Members of the merged fund will be able to discuss the immediate opportunities available at upcoming seminars.

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Clive van Horen

LGIAsuper members will benefit from increased size, scale and, ultimately, reduced costs with the acquisition of Suncorp’s superannuation business (Suncorp Portfolio Services Limited) in 2022.

The transaction, announced yesterday, will see LGIAsuper add Suncorp’s 137,000 superannuation members and $6.4 billion in funds under management (as of 31 December 2020) to its portfolio, cementing its focus on Queensland and its position as a sustainable, mid-sized fund.

The total consideration for the acquisition is estimated at $45 million. This includes a fixed amount of $26.6 million, plus regulatory reserves.

The expected completion date for the transaction is the second half of the 2021/22 financial year, nearly 12 months after LGIAsuper’s planned merger with Energy Super on July 1, 2021.

The two transactions will see a combined fund size of around $28 billion and a membership of approximately 250,000 at completion.

LGIAsuper CEO Kate Farrar said an extensive due diligence process, regulatory consultation, and analysis of member benefits had concluded that the Suncorp acquisition would ultimately provide significant advantages to current and future members of LGIAsuper, Energy Super and Suncorp’s superannuation business.

“This acquisition, combined with the Energy Super merger, will achieve an ideal, sustainable fund size, while maintaining our status as a boutique and personal superannuation provider,” Ms Farrar said.

“With the superannuation industry consolidating rapidly, we want to see our Queensland-based funds thrive in an increasingly complex and competitive national market, and the best way to do that is together.”

Suncorp Bank CEO Clive van Horen said: “After extensive engagement with potential buyers, we believe that LGIAsuper is best placed to deliver sustainable member outcomes.

“The values and purpose of LGIAsuper align closely with those of Suncorp and this transaction will enable the combined organisation to take advantage of scale benefits in the future.”

Ms Farrar said as part of an entity with greater scale, all members could expect to see reduced fees as integration benefits were realised, with enhanced products, services and personalised workplace support programs being some of the planned acquisition outcomes.

“As a circa $28 billion fund, we will have increased access to high-performing mid-market investments, with a focus on assets that build communities and support our members where they live and work.”

LGIAsuper’s current investment portfolio includes Queensland assets, including the Gold Coast Light Rail, North Queensland Gas Pipeline, the Central Queensland Livestock Exchange, and the Sunshine Coast Airport.

Ms Farrar said LGIAsuper planned to keep the Suncorp fund operating as a standalone entity under the Suncorp brand initially, with its own trustee board, management and team.

“Suncorp’s superannuation members will not see any short-term changes to their fund or the team members who support them,” she said.

“In the medium term, we plan to mutualise and put the ownership of the fund in the hands of all members.”

Ms Farrar said the investment from LGIAsuper’s general reserves was expected to be recouped by members within five years and, in addition, would deliver medium-term fee benefits.

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