SunSuper was established in 1987 as a multi-industry superannuation fund open to all workers and is profit-for-members and has today 1.4 million members and US$ 61 billion in funds under management. QSuper was created in 1913 to help Australians save for retirement and has today 620,000 members and US$ 95 billion funds under management. In March 2021, both schemes agreed to merge and create a US$ 150 billion superannuation fund with two million members. In October 2021, Queensland Parliament passed a piece of legislation that allowed the merger to move forward, subject to final regulatory and board approval.