TWUSUPER: A Comprehensive Guide

TWUSUPER is a superannuation fund that's part of the Transport Workers' Union (TWU) superannuation scheme. It's designed for transport workers and their families.

TWUSUPER has a range of investment options to choose from, including a cash investment option and a range of diversified investment options.

The fund is overseen by a board of directors, which includes representatives from the TWU and other industry experts.

The governance structure of TWUSUPER is run through a trustee called TWU Nominees Pty Ltd. This trustee has a Board of six directors appointed by the industry trade union, six directors appointed by industry employers, an independent Director, and an independent chair.

The current CEO of TWUSUPER is Frank Sandy, and the current chair is Nicholas Sherry, a former ALP MP. The chair's position has been a point of contention in the past.

Internal union disputes have arisen over the allocation of board seats, with an internal union election in 2022 highlighting these issues. The Australian noted that the election was partly due to disagreements over board seat allocations.

The fund has been criticized in the past for paying its chair a high salary, with David Galbally AM QC receiving the highest chairperson salary of all industry super funds in 2017. Despite having relatively low funds under management, the fund still paid a high salary to its chair.

Asset allocation is a crucial aspect of investing with TWUSUPER. Australian Shares are the largest asset allocation in the High Growth option, making up 37.5% of the portfolio.

You can see the breakdown of asset allocations for each option below:

The Moderate option has a more balanced asset allocation, with Australian Shares making up 18% of the portfolio. International Shares are the largest allocation in this option, at 23%.

The Cash Plus option has the most aggressive asset allocation, with Cash making up 100% of the portfolio. This option is ideal for those who want to keep their investments extremely liquid and low-risk.

The High Growth option has a significant allocation to International Shares, at 45.5%. This is a key difference between this option and the Moderate option, which has a more balanced allocation to Australian and International Shares.

TWUSUPER offers a range of features and benefits that make it an attractive option for those looking to secure their financial future.

One of the key benefits of TWUSUPER is its low fees, with administration fees as low as 0.24% per annum. This means you can keep more of your hard-earned money for yourself.

With TWUSUPER, you can invest in a range of assets, including shares, property, and cash, allowing you to diversify your portfolio and potentially grow your wealth over time. This flexibility is a major advantage of the fund.

TWUSUPER also offers a range of investment options, including a balanced option that invests in a mix of assets, as well as a growth option that focuses on higher-growth assets. This allows you to tailor your investment strategy to suit your individual needs and goals.

The fund's fees are also relatively low compared to other superannuation funds, making it a more cost-effective option for those looking to save for their retirement. This can add up to significant savings over time.

TWUSUPER has a strong performance record, with its Balanced (MySuper) option outperforming the median option in its risk category over 1, 3, and 5 years.

The Balanced option has consistently delivered strong returns, making it a great choice for those who want to balance risk and potential for growth.

TWUSUPER's High Growth option has also outperformed the median option in its risk category over 1, 3, and 5 years, making it a great option for those who are willing to take on a bit more risk in pursuit of higher returns.

Overall, TWUSUPER's performance is a major draw for investors, and its low fees make it an even more attractive option.

TWUSUPER's Balanced (MySuper) and High Growth investment options have outperformed the median option of their risk categories over 1, 3, and 5 years. This is a significant achievement, especially considering the Balanced option has done so over a long period.

The Balanced option has consistently delivered strong returns, making it a great choice for those who want to balance risk and potential for growth.

TWUSUPER's investment options have been able to outperform the median option in their risk categories, which means they're doing a better job than average.

Fees can add up quickly when it comes to your superannuation. TWUSUPER's fees are slightly above the median for its risk category.

The flat fee for TWUSUPER's Balanced option is $78. This fee is the same across all investment options.

The percentage-based fee for TWUSUPER's Balanced option is 0.92%. This means that 0.92% of your investment balance is deducted as a fee.

The total fee for a $50,000 balance in the Balanced option is $538.

Here's a breakdown of the fees for TWUSUPER's main investment options:

The fees for TWUSUPER's Conservative option are lower than those for the Balanced option, with a flat fee of $78 and a percentage-based fee of 0.68%.

To access the necessary information to contribute to TWUSUPER, you'll need to check the ABN and USI page.

The ABN and USI page has all the required information for contributing to the fund.

For a more detailed understanding, be sure to read the PDS and TMD.

TWUSUPER is an APRA fund, as confirmed by the fund's own statement.

APRA funds are regulated by the Australian Prudential Regulation Authority, which is responsible for ensuring the financial stability of the country.

TWUSUPER is indeed an APRA fund, as stated in the fund's information.

APRA funds are subject to strict regulations and guidelines to ensure they operate in a safe and sound manner.

This means that TWUSUPER must adhere to certain standards and requirements to maintain its APRA fund status.

To find the necessary information to contribute to a fund, you'll need to know the ABN and USI. The TWUSUPER ABN and USI page has all the required details.

You'll also need to read the fund's PDS and TMD for further information.

TWUSUPER has received reviews from customers, with 2.4 out of 5 stars from 14 customer reviews on Review My Super.

TWUSUPER's customer satisfaction rating is based on these reviews, which can be a helpful indicator for potential members.

You can check out these reviews on Review My Super to get a better sense of what current and former members think about TWUSUPER.

Reviews can be a great way to get a sense of a superannuation fund's performance and customer satisfaction. According to Review My Super, TWUSUPER has a rating of 2.4 out of 5 stars based on 14 customer reviews.

Reading reviews from other customers can give you an idea of what to expect from a superannuation fund. TWUSUPER's customers have shared their experiences on Review My Super.

It's worth noting that reviews can be helpful in making an informed decision about your superannuation fund.

The New York Times featured an article on the benefits of meditation, citing a study that showed regular meditation can reduce stress and anxiety by 30%. This is especially important for individuals with high blood pressure.

According to the American Psychological Association, 75% of adults experience stress that affects their daily lives. This can be mitigated with stress management techniques like meditation and deep breathing.

The Harvard Business Review published an article highlighting the importance of self-care in the workplace, noting that employees who prioritize self-care are more productive and have better job satisfaction. This is a key takeaway for employers looking to boost employee morale.

A study by the National Institute of Mental Health found that 1 in 5 adults experience mental illness each year, emphasizing the need for accessible mental health resources. This is a crucial consideration for individuals seeking support.

The Journal of Occupational and Environmental Medicine published an article on the benefits of mindfulness in the workplace, noting that it can improve employee well-being and reduce turnover rates. This is a key consideration for employers looking to improve employee retention.

TWUSUPER is a superannuation fund that's specifically designed for the transport industry. It's a great option for employers and members who want to save for their retirement.

TWUSUPER is open to employers and members of the Transport Workers' Union (TWU), and is also available to their families.

Employers who join TWUSUPER can take advantage of the fund's low fees and high returns, making it a great option for their employees' superannuation needs.

As an employer, you'll need to provide new starters with the new Team Super version of the Super Standard Choice form within 28 days of them starting employment. You can find this form on the website.

Make sure to destroy any old versions of this form to avoid confusion. It's a good idea to keep track of which employees have received the new form.

You'll also want to keep your employees' email addresses up to date, as this is how you'll receive key milestones and other important information. Simply log into your online account to check your email address.

TWUSUPER is an industry fund, specifically linked to the transport industry. This means it's designed to cater to the needs of workers in the transport sector.

Industry funds like TWUSUPER are a type of superannuation fund that is managed by a group of employers in a particular industry. They're a great option for workers in that industry, as the fund is often tailored to meet their specific needs and goals.

The transport industry is a key sector that TWUSUPER serves, providing a range of benefits and services to its members.

TWUSUPER is the largest transport-specific superannuation fund in Australia. It's a MySuper authorised Industry SuperFund with over 30 years of experience in the industry.

TWUSUPER has developed its products and services around the needs of the transport industry, which has the oldest working population of any sector. Many of its people are under-prepared for retirement, so it's essential to consider how to manage the transition of valuable employees into retirement while reducing business risks associated with age.

Some key benefits of TWUSUPER for employers include a free clearing house to pay all employee funds, dedicated support and information, and transport industry events for business leaders. You can also access workplace education programs to inform your employees and help them build a better future.

TWUSUPER invests across a range of asset classes, closely monitoring and actively managing these investments to balance risk and return for the benefit of members. All profits go to members, and they have strong long-term investment performance.

Insurance is an essential part of TWUSUPER, providing financial protection for members and their loved ones.

You can choose from three types of insurance: life insurance (death cover), total and permanent disablement (TPD) cover, and income protection cover.

The default rates for death and TPD cover are age-based, and you can apply to increase your cover above these rates.

The maximum limit for death cover is $5 million, and for TPD cover, it's $2.5 million.

If you're unable to work due to illness or injury, income protection cover can provide up to 84.5% of your pre-disability income, up to $30,000 a month, or your agreed value of income protection cover, whichever is lower.

Twusuper is the largest transport-specific superannuation fund in Australia, supporting the businesses that keep the country moving. It's a MySuper authorised Industry SuperFund with over 30 years of industry experience.

TWUSUPER has developed its products and services around the needs of the transport industry, including delivering workplace education programs to inform employees and help them build a better future. This can be accessed through their website.

Some of the business benefits of TWUSUPER include a free clearing house to pay all employee funds, dedicated support, information and updates, transport industry events for business leaders, and workplace education to help employees enjoy a better retirement.

TWUSUPER invests across a range of asset classes and closely monitors these investments to balance risk and return for the benefit of members. The fund's profits go directly to its members.

Here are some key member benefits of TWUSUPER: