Statement of Corporate Intent 2024/25

May 2024

Our financial forecasts for 2024/25 show projected FUM, funds flow, budgeted expenses and capital investment required to support the delivery of our strategic priorities. The financial outcomes for future years, including the potential impacts that will flow from the implementation of Commonwealth and State reforms, are in the Strategic Development Plan (SDP).

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1. GESB overview

GESB is a statutory authority, responsible for administering the superannuation schemes established and continued under the State Superannuation Act 2000 (SSA), in addition to a number of other defined benefit schemes on behalf of the State. The responsible Minister for GESB is the Treasurer of WA (the Treasurer).

GESB’s statutory and regulatory framework is principally derived from:

• The SSA and the State Superannuation Regulations 2001 (SSR)
• Treasurer’s Guidelines issued pursuant to the SSA
• The HoGA between the State of WA and the Commonwealth

The superannuation schemes administered by GESB are Exempt Public Sector Superannuation Schemes (EPSSS). EPSSSs are deemed to be complying superannuation funds for the purposes of Commonwealth superannuation and taxation legislation. However, the schemes are not subject to the Superannuation Industry (Supervision) Act 1993 (SIS Act), nor is GESB subject to APRA supervision.

1.1. Our corporate responsibilities, purpose, vision and mission

Operating under the SSA regulatory framework, we manage the GES Fund and deliver cost- effective and trusted³ products (including insurance) and services to members, employers and the State.

We manage superannuation accounts for over 247,000 current and former WA public sector employees. We manage an investment portfolio of $36.9bn (as at 30 June 2023), of which 91% ($33.5bn) is managed for members in market-linked schemes, where members bear the investment risk, and $3.4bn is managed for the State to support its defined benefit liabilities.

We administer the schemes established under the SSA and other defined benefit schemes for the State and provide information and assistance to the Treasurer on superannuation matters. In accordance with the SSA, the GESB Board (the Board) formulates and gives effect to an investment strategy for the fund to achieve prudent diversification and deliver returns that meet investment objectives. Our investment framework operates in accordance with Prudential Guidelines for Investments issued by the Treasurer.

We are primarily a self-funded agency, though we recover the operational costs of administering the State’s defined benefit schemes and other Government related activity, including the cost of Government services, from the Consolidated Account.

Our purpose, vision, mission and strategic objectives are determined within the context of our enabling legislation and the HoGA between the State of WA and the Commonwealth. They reflect State and Commonwealth policy objectives and GESB’s statutory obligation to act, as far as practicable, in the best interests of members. They are aligned with the WA Government’s OBM framework and contribute to the government goal of strong and sustainable finances (responsible, achievable, affordable budget management)⁴ and will align with State Government policy and reforms where relevant.

Our purpose, vision and focus

1.2. Objectives and member outcomes

Our strategy is aligned with the Commonwealth requirements regarding member outcomes⁵.

The Board determines the targeted member outcomes and approves strategic objectives that support achieving these outcomes, as well as the sound and prudent management of business operations. In 2023, we reviewed our member outcomes framework, targeted member outcomes and associated measures to ensure they remain appropriate and aligned with regulatory requirements. In 2024/25, we will be adopting proposed changes to Superannuation Prudential Standard (SPS) 515 Strategic Planning and Member Outcomes.

1.3. Business performance and member outcomes assessment

Aligned with the Commonwealth’s accountability and member outcomes measures, the Board conducts an annual business performance review (BPR) and member outcomes assessment (MOA). The BPR assesses our performance against our strategic objectives across our business operations and the MOA assesses whether our members’ financial interests are being promoted in the product they hold. Key performance areas include investment performance, fees, services and benefits, insurance cost and product design. The findings of these reports are used as the basis for taking action to improve our member outcomes.

The 2023 BPR and MOA confirmed we achieved our targeted member outcomes for most measures in 2022/23. A summary of the annual MOA was published on the GESB website.

Performance against our strategic objectives is reported in the Quarterly Performance Report to the Treasurer.

1.4. Achievements 2023/24

Overall, we continue to perform well and are valued by members and employers:

• Member satisfaction with GESB’s service remained extremely high at 91%, with 81% of surveyed members scoring GESB 8 to 10 out of 10⁶
• Employer satisfaction with the service provided by GESB remained extremely high at 98%, with 89% rating their satisfaction as 8 to 10 out of 10⁷
• Staff satisfaction remained strong at 87%⁸

Our My GESB Super plan performance ranked 8th out of a list of 50 funds with balanced options over the 12 months to 31 December 2023. My GESB Super achieved an above average return of 10.7% (compared with 9.6% for the median balanced option) for the period.⁹

For the second year running, we were awarded a Rainmaker ESG leading rating for implementing ESG principles to a high level, while having a strong record of investment performance.

We were recognised by the Office of the Auditor General as one of the 2022/23 best practice entities for timeliness and quality of financial reporting and controls.¹⁰

The following initiatives were successfully implemented during 2023/24:

GESB One Fund legislative changes

Legislation was introduced into Parliament to amend the SSA to allow WA public sector employees to continue receiving compulsory super contributions into their GESB Super account if they move to a non-government role or have secondary private employment. This will allow members to maintain their superannuation in a single fund even if they leave the public sector.

ESG commitments

A Sustainable Balanced investment plan was created for members who would like to invest their super with a greater focus on ESG considerations. We have integrated ESG management throughout our investment process, including consideration of climate-related risks, in formulating our investment strategy and asset class structures. Prudent ESG management extends beyond our investment portfolio to our business decision making and we aim to reflect this in our policies and practices where practical.

Digital engagement

We introduced further enhancements to the Members Online (MOL) portal, which is the central access point used by members for information, transactions and communication. This included the ability to submit payroll deduction requests to the member’s employer and new functionality for joining our Retirement Income (RI) Allocated Pension or Transition to Retirement Pension online. Further improvements to security have also been made to the GESB websites including MOL to help protect member information online.

Member Journeys

The retirement section of the website and Retirement Options Service (ROS) digital booking process was upgraded with a focus on clearer member journeys and improved experience for members in the retirement phase. We introduced the preservation age calculator to assist members self-service in understanding when they can retire and access their super. We also introduced a new member welcome journey to provide an enhanced experience during the first 12 months of membership with targeted automated communications to deliver relevant information to new members.

eCommunications

We transitioned acknowledgment receipts for downsizer, one off and regular voluntary contributions to email to improve member experience and increase efficiencies. This replaced about 53,000 paper-based items per annum.

Retirement Income Strategy

Work continued on our Retirement Income Strategy aimed at helping our members who are approaching or in retirement make informed decisions, optimise their income, manage expected risks, have flexible access to their funds, and provide them with retirement products and services that meet their needs.

Integration of workforce, diversity and inclusions plans

GESB’s Workforce and Diversity Plan, Reconciliation Action Plan (RAP), Disability Access and Inclusion Plan (DAIP) and Multicultural Access Plan (MAP) were updated and integrated into business wide decision making processes to continue to make impactful change and support our commitment to diversity and inclusion in how we work and the outcomes we deliver for members in line with our purpose and values.

Members experiencing vulnerability policy

We developed a policy for members who are experiencing vulnerability at times in their lives, recognising their unique needs and requiring us to take a flexible and supportive approach when assisting them.

Our people and culture

We continued to develop a flexible and productive workforce and provide a safe, supportive and inclusive workplace by improving our onboarding, staff development and training programs. This included development of a capability framework to reflect key competencies, skills and career pathways and incorporating professional, personal and leadership development.

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2. Our strategy - 2024/25

2.1 Key strategic themes

Our strategic themes are reviewed annually by the Board following assessment of industry trends, legislative changes in our operating environment and GESB’s forecasts.

2.2 Summary of initiatives

Objective 1: Strong financial performance for members

Promoting strong financial outcomes that provide value for money for our members

1.1 Members’ investment returns meet long-term objectives and are competitive against peer funds

The main determinant of investment performance is the Strategic Asset Allocation (SAA) for each investment option – the long-term allocation of assets between major asset classes such as equities, bonds, cash, property. This allocation has the major impact on the risk and return profile of each investment option within the fund.

• Asset class reviews
  A review of each asset class is scheduled to be undertaken on a regular basis. Each review will consider the appropriateness of the asset class composition, the spread of risk in the portfolio and the distribution of risk across investment managers and strategies.

1.2 Members have access to value for money products with fees that are in the lowest fee quartile of APRA funds and are competitive against peer funds

GESB’s fees are currently below industry medians. As at February 2024 they were:

• Pricing reviews
  Pricing for our market-linked superannuation and retirement schemes is determined by the Board based on annual reviews of each scheme’s financial position. The aim is to ensure that the level of fees and charges meets our pricing principles and is well positioned against peers.

Providing value for money insurance

1.3 Members have appropriate insurance cover that does not inappropriately erode their superannuation balances

We provide Death, Total and Permanent Disablement (TPD) and Salary Continuance Insurance (SCI) for GESB Super and WSS members as part of their superannuation benefit, through group insurance policies with our insurer, AIA Australia.

A key focus is that members have appropriate insurance cover that does not inappropriately erode their superannuation balances.

• PYS package
  The Board has approved implementation of the Commonwealth PYS changes relating to cancellation of insurance for members who have been inactive for 16 months (following a comprehensive communication strategy to notify affected members).
• Procuring GESB’s group insurance provider
  With the expiry of the current insurance contract on 30 June 2025, the Board is continuing a process to review our Insurance Management Framework, insurance product design and perform a market tender to determine the insurance provider from 1 July 2025.

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Objective 2: Positive member experience

Providing a positive member engagement experience

2.1.Members have a high level of satisfaction with their interactions and communication with GESB

2.1.1. Services to members

We provide a range of member information and support services, for example the GESB website and the MOL secure portal, Insurance Claims Consultants (ICC), Member Services Centre (MSC), Live online chat, ROS, seminars and webinars. As the MSC, ROS, and ICC services are provided by MUFG Pension and Market Services (MUFG), service standards and measures have been put in place to ensure the level of service provided remains high.

• Service level improvements
  To meet rising member expectations regarding responsiveness to requests and to ensure our services are competitive across the superannuation industry, we are reviewing processing times for benefit payments. We aim to reduce the service standard from ten to five days initially, and then to three days dependent upon the changes to IT systems. We are also investigating a cheque replacement solution which will positively impact benefit processing times and working to simplify spouse contributions processes, including the enabling of Bpay® contributions.

2.1.2 Member engagement

• Member journeys
  We are developing strategies to understand and address members' wants, needs, and objectives to support the achievement of a quality retirement. This includes mapping the member journey to identify opportunities to increase our members' knowledge and ability to manage their superannuation, by providing members with interactive media, tools, and calculators to build member engagement and make it as simple as possible for them to take informed action at relevant points in their journey.

2.1.3 Digital engagement

• MOL and other digital enhancements
  Our MOL portal is the central access point used by our members for information, transactions and communication and it is key to achieving our objective of delivering a positive and efficient member experience through digital channels.
  The MOL system will be continually enhanced to further our digital engagement strategy, providing additional functionality for our retired members including when changing bank account details, making a lump-sum withdrawal or changing their payment details, online form capability and expansion of the online message centre.
  We will be transitioning additional member communications to the digital channel to improve member experience and increase efficiencies.

Give primacy to our members’ perspective and being their advocate for appropriate individual outcomes

2.2 Members and their representatives are treated fairly and respectfully, in a timely manner, and with due regard for their circumstances and the complexity of issues

• Aboriginal and Torres Strait Islander members
  Our vision for reconciliation is to engage with Aboriginal and Torres Strait Islander peoples in ways that will meet their needs and help to improve superannuation outcomes. We recognise that Aboriginal and Torres Strait Islander peoples, including our members, often face unique challenges accessing and understanding the superannuation system. These challenges can include not having common forms of identification, having limited or no access to technology, and a lack of awareness of superannuation entitlements.
  The focus of our third RAP is to work together with Aboriginal and Torres Strait Islander stakeholders to create tangible outcomes in our workplace, our community, our communications and the services we provide. More detail on our RAP can be found on our website.

• Diversity and inclusion
  We are committed to providing services to the diverse community of WA, including people with disabilities, Aboriginal and Torres Strait Islander peoples and culturally and linguistically diverse (CALD) people in a fair and non-discriminatory manner. Our workforce and diversity plan has been developed to align and support the achievement of our strategic objectives.
  GESB recognises the role we all play in promoting a more inclusive community. Our DAIP 2023- 2028 considers the diverse needs of our members, staff and other stakeholders and shows our commitment to ensuring that our services, facilities and information are accessible and inclusive of people with disability, our aging population, their families and carers.
  Initiatives identified in these plans will be implemented throughout the reporting period, including providing a regular update to the Board and key stakeholders on our progress.

• Multicultural Access Plan
  Our MAP 2023-2026 was developed to provide a framework to support our commitment to multicultural access and inclusion in the way we work and in the outcomes we deliver in line with our purpose and values. An important part of this is ensuring we can engage and communicate effectively with CALD people. We have reviewed and updated our recruitment process to ensure it provides opportunities for CALD people to apply. We have also increased our visibility by engaging with external community associations via the Office of Multicultural Interests.

• Integration of workforce, diversity and inclusion plans
  Our Workforce Diversity and Inclusion Plan 2023-2026 is being integrated into business wide decision making processes and measured across the business to continue to make impactful change and support our commitment to diversity and inclusion in the way we work and in the outcomes we deliver for members in line with our purpose and values.

• Complaints
  GESB considers ‘any expression of dissatisfaction with our products or services where a response is expected’ to be a complaint. Members can make a complaint verbally or in writing.
  All front-line complaints are acknowledged within two business days and a full response is provided to the complainant within 30 business days.
  Although we receive low numbers of complaints, complaints are a key source of information regarding members’ experience with GESB. To understand emerging trends and drivers of complaints more fully we are refining the reporting capability of the system to provide enhanced information insights. As from the first quarter of 2024, we will provide complaints data to ASIC so that we can be benchmarked against the superannuation industry.

Providing products and services that meet members’ needs

2.3 Members have access to products and services that support them in accumulation and retirement in order to help them achieve a quality retirement

In line with our purpose to help our members achieve a quality retirement, we focus on providing high quality, value for money default products and services. We monitor product performance and strategy to ensure we continue to meet member needs and are aligned with Commonwealth retirement income policy.

GESB’s default investment plans are aligned with the requirements set out in the Treasurer’s Guidelines for GESB Compliance with Stronger Super, which are due to be updated to reflect the Commonwealth’s Improving Accountability and Member Outcomes legislative changes. The annual member outcomes assessment replaced the scale assessment from 2020/21 as part of these member outcomes legislative changes.

• Retirement Income Strategy
  Consistent with the Covenant legislative requirements, we will continue to implement our Retirement Income Strategy to help our members who are approaching or are in retirement make informed decisions, optimise their income, manage expected risks, have flexible access to their funds, and provide them with retirement products and services that meet their needs.
  We will be reviewing our existing retirement products with a view to implementing enhancements and will also look at the potential development of new longevity products. This will be underpinned by qualitative and quantitative research to ensure that our retirement product and service offerings meet our members’ needs.

• New calculator for members moving into retirement
  We are developing a new calculator to assist members in understanding how long their money will last moving into and once in retirement.

• QAR reforms
  The QAR reforms aim to improve the regulation of financial advice, making it easier and more affordable for Australians to receive quality advice when they need it and in a form they want. We are considering the impact to our members of the Commonwealth’s response to the review and will determine what changes to services will be required or recommended.

Providing insurance members can rely on

2.4 Members have access to flexible, easy to use and understandable insurance products and services that they trust and can rely on

• Insurance product changes
  The insurance product is being reviewed and amended to align and support the changes that will occur due to the GESB One Fund initiative and designed to ensure it meets member’s needs.

• Insurance system and app upgrades
  With our insurer AIA we are updating the underwriting and education tool (LIFEapp 2.0). With a modern user interface and additional functionality, our members will find it easier to consider their insurance needs using AIA’s calculator as well as implement changes to their insurance by applying for additional cover online.

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Objective 3: Efficient and effective operations

Maintaining sufficient scale and sustainability

3.1 All stated member outcomes are expected to be delivered in the long term by maintaining sufficient scale in a sustainable manner

GESB One Fund
The GESB One Fund initiative involves legislative change to allow non-public sector employers to contribute to GESB Super and have GESB members stapled to GESB. This facilitates GESB complying with its HoGA obligations by aligning with the objectives of the Commonwealth’s YFYS reforms aimed at maximising the retirement savings of all Australians and preventing the creation of unintended multiple super accounts.

It will improve member experience by allowing GESB members to maintain their superannuation in a single fund even if they leave the WA public sector. It requires amendments to the SSA and the SSR as it involves opening the GESB Super scheme to allow acceptance of concessional contributions from non-public sector employers for current GESB members.

Implementation of the GESB One Fund initiative will be supported by targeted communications and other projects to keep members informed about the changes and their option to maintain a GESB Super membership if they take up employment with a non-public sector employer. WA public sector employers will be provided assistance with streamlining onboarding processes for new public sector employees and increasing awareness of the benefits of choosing GESB.

Management of key services provider contracts
Effective management of the administration contract with MUFG is important to ensure GESB’s objectives of ensuring ‘value to members’ and ‘maintenance of service levels to members and employers’ continue to be realised.

In addition to the administration contract with MUFG, we have other material supplier contracts for insurance services, asset consulting and global custody services which are managed efficiently and effectively to deliver value to GESB and our members.

Administration efficiency
We continue to manage costs and provide value for money products and services to our members. This requires continuous improvement in operating efficiency combined with maintenance of economies of scale. Our budgeted cost per member to administer the accumulation schemes for 2024/25 is $184. This is below the median for all superannuation funds and reflects our focus on cost efficiency¹¹.

3.2. Members can be confident in the strength of GESB’s governance framework and in our ability to deliver positive outcomes

Corporate governance and risk management culture

The governance framework is established by the Board to facilitate the effective operation of GESB within the requirements of governing legislation. It includes an outline of the structures, activities, instruments and monitoring arrangements that have been adopted to ensure compliance with our legislation and other obligations. The governance framework is aligned to the Public Sector Commissioner and Australian Securities Exchange principles of good governance for boards and committees and is consistent with industry best practice. It is underpinned by transparent disclosure, effective communication, proper measurement and accountability across the organisation to ensure we remain transparent, accountable and ethical.

The framework reflects our operating environment as a State authority within the financial services industry. GESB also operates within the State’s Integrity Framework, which aims to proactively plan and manage integrity and build a risk and compliance culture that is more resistant to misconduct and corruption.

3.3. Members can be confident that ESG is appropriately factored into GESB’s decision making

Addressing ESG risks and opportunities

ESG factors present both risks and opportunities that can impact long-term risk-adjusted returns. It is important to understand material ESG risks and opportunities and manage these as part of our investment process. We have integrated ESG management throughout our investment process and are working with fund managers, including consideration of climate-related risks, in formulating our investment strategy and asset class structures. Prudent ESG management extends beyond our investment portfolio to our business decision making and we aim to reflect this in our policies and practices where practical.

The Board has committed to transitioning our investment portfolio to net zero carbon emissions by 2050, including committing to a 45% reduction in the carbon intensity of our listed equity portfolio by 2030, and net zero carbon emissions for our Unlisted Property portfolio by 2040.

• ESG commitments
  We are continuing to enhance our approach to integrating ESG into investment decisions and enhancing transparency. Communication strategies on our range of ESG initiatives will ensure our members are well informed on both our core, integrated ESG approach and the newly created Sustainable Balanced plan.

Supporting employers in meeting their superannuation obligations efficiently and effectively

3.4. Members can be confident their contributions are processed efficiently, and benefit payments are accurate

We will continue to work with employers to support efficient employee onboarding processes, implement an employer engagement strategy to ensure appropriate support and service delivery to all employing agencies and worksites, deliver employer and member workplace information and education programs that align with our strategic objectives and member journey initiatives, and ensure ongoing efficiency and compliance of employer superannuation responsibilities through any reforms implemented.

• Employer Online upgrade
  The Employer Online portal is being upgraded to enhance the security of the underlying software, improve contribution processing efficiency and improve the employer experience when accessing the system.

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Objective 4: Positive culture and stakeholders

Creating a positive and supportive organisational culture underpinned by strong values

4.1 Members can be confident that GESB staff are knowledgeable, motivated and engaged to deliver member outcomes

4.1.1. Flexible, safe and productive workforce

We will continue to develop a flexible and productive workforce and provide a safe, supportive and inclusive workplace.

Key focus areas to ensure we achieve this objective include:

• creating and maintaining a positive, high performing, flexible culture within GESB and with external service providers
• professional development programs around skills relevant to delivery of GESB’s objectives and aligned with career development for employees
• effective succession plan management and corporate knowledge capture
• aspiring to be an employer of choice by continually improving our onboarding, staff development and training programs and providing a safe, supportive and inclusive environment for staff
• improving our performance management processes to ensure clarity of objectives and expectations, and include relevant and appropriate measurements and performance assessments across the business
• continually assess the work environment and raise awareness of safety and ethical behaviour to ensure that GESB is a safe and supportive place in the office and when working remotely
• continuing to conduct regular staff satisfaction surveys to ensure we work towards improving the workplace and meeting staff expectations
• ensuring we have an ongoing culture of learning by providing a range of in-house seminars, webinars and learning opportunities

Being highly regarded by stakeholders

4.2 Members can be confident that we are held in high regard by key stakeholders

State Government employers are key stakeholders in GESB and maintaining strong employer relationships remains a core objective for GESB.

We work with employers to meet members’ needs, including delivering tailored education programs developed in partnership with some agencies to meet specific needs of their workforce, such as the ‘Into Your Comfort Zone’ program for the Department of Education, which addresses the retirement concerns and financial literacy gaps of its employees.

GESB’s webinar-based information program is continually expanding to reach a greater number of members, particularly in regional areas. We have implemented a new webinar platform which has improved our member experience and accessibility for disabled members.

• Stakeholder engagement on State and Commonwealth reforms
  All WA public sector employers and public sector unions are key stakeholders in policy changes that impact their employees and members, for example changes to the SSA that mean WA public sector employees can continue making compulsory super contributions to GESB Super accounts, even if they move to a non-government role or have secondary private employment.
  We will work closely with State government agencies to implement a comprehensive employee onboarding strategy to capture new employees joining the public sector.

• Adviser engagement and portal
  We are focusing on developing our engagement with and improving services for financial advisers. This includes:
  • conducting a review of how we engage with financial advisers and ratings agencies with a view to providing members with more support in making informed decisions
  • developing an adviser relationship strategy to ensure we effectively engage with financial advisers and the wider advice industry to increase awareness of GESB’s product offering and assist our members in obtaining quality advice
  • implementing a staged initiative to improve the services provided to our members’ financial advisers, including automating processes to produce member reports and improve the security in distribution of the reports for financial advisers. We continue to refine this process and investigate implementation of an adviser portal

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3. Performance and Risk Management

3.1 Performance targets

Our strategic objectives reflect our focus on providing financial outcomes to members, investment returns that meet investment objectives, low fees and improved member engagement with their superannuation. We are also focused on providing ongoing assistance to employers to fulfil their superannuation obligations effectively and efficiently.

The key performance measures in this report measure value delivered to members and the quality of the services delivered. These include key effectiveness and efficiency performance indicators, as required by the Financial Management Act 2006.

Performance measures (2024/25)

3.2 Risk management

Our risk management strategy addresses risks that may adversely impact members, staff, assets, operations and our outsourced service providers. The strategy meets the requirements of subsection 52 (8) of the SIS Act, APRA Standard CPS220 and International Risk Management Standard ISO 31000.

The Board completes a review of GESB’s material risks in the first quarter of every year and approves the material risks for the coming financial year.

Although some material risks are currently rated as high after treatments, they remain within the Board’s tolerance levels. All the controls in place to address these risks continue to be effective.

Material risks are reviewed at least quarterly and reported for the consideration of the Executive Management Group (EMG), Audit and Risk Committee and the Board. In addition, EMG monitors key areas that might impact our risk environment.

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4. Financial forecasts

Statement of Change in Net Assets

Net Assets by Scheme

Accumulation Scheme Surplus Deficit

Administration Expenses

Cost per Account

Government Services Recoup - Benefit Payments

Government Services Recoup - Administration Expenses

Total FUM is projected to increase to $41.5bn by 30 June 2025. FUM is reported in the financial statements as investments plus cash and cash equivalents.

GESB prepares its financial statements in accordance with Australian Accounting Standards, including AASB 1056  Superannuation Entities and other authoritative pronouncements of the AASB as applied by the Treasurer’s Instructions and the SSA.

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1 Government of WA: Outcomes Based Management, Guidelines for use in the WA Public Sector, March 2023.
2 Prudential Standard SPS 515 – Strategic Planning and Member Outcomes, APRA, January 2020.
3 Member satisfaction survey, Research Solutions, 2022/23.
4 Government of WA: Outcomes Based Management, Guidelines for use in the WA Public Sector, March 2023.
5 Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No.1) Act 2019.
6 GESB Member Services Satisfaction Research, Research Solutions, September 2023.
7 GESB Employer Services Satisfaction Research, Research Solutions, October 2023.
8 GESB Employee Satisfaction Survey, Research Solutions, April 2023.
9 SuperRatings SR50 Balanced Index January 2024.
10 WA Government Office of the Auditor General, State Government 2022-23 – Financial Audit Results, December 2023.
11 SuperRatings SMART database, February 2024.
12 SuperRatings Annual 2023 Benchmarking Survey, February 2024.
13 89% rating 8 to 10 out of 10 in GESB Employer Services Satisfaction Research, Research Solutions, 2022/23.