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What the Researchers Say:

A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.
You should contact your financial adviser or this fund before making an investment decision.

  • MySuper Gold
Awards
Fund data valid as of March 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $133 $155 -$22
50k $623 $628 -$5
100k $1,168 $1,158 $10

Investment Allocation

Intl shares 27.0%
Aus shares 26.0%
Property 9.0%
Alternative 19.0%
Fixed interest 15.0%
Cash 4.0%

Fees & Charges

Administration Fee ($) $78
Administration Fee (%) 0.35%
Investment Fee 0.74%
Switching Fee $0
Exit Fee $50
Account Size Discount No
Employer Size Discount No

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 120,390
Total Assets $4,164,346,956
Year Started 2013
Target Market Transport and Logistics Workers
Offered to Public? Yes
Fund Type Industry-MySuper

Fund Highlights - provided by TWUSUPER - Balanced (MySuper)

Low fees for members with no fees charged for employer groups
EmployerAccess for online transactions and educational information.
Integrated financial advice options - single issue over the phone to full planning service. Financial planning and workplace education seminars for members.
Regular education communications provided for members/employers.
Customer service team can assist members at work or home.

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance
Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Goverance
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 0.28%
-0.06%
9.17%
9.60%
12.47%
12.66%
16.80%
14.73%
0.19%
0.45%
9.52%
8.71%
Fund
Benchmark
  • Legend:
  • Outperformed average
  • Underperformed average
  • Negative returns

Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Benchmark investment information - how performance is measured

To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

TWUSUPER was established in 1984 by the Transport Workers Union to provide superannuation services to workers in the transport industry. As a public offer fund, membership is now open to all Australian residents.

The fund's Balanced (MySuper) option is the default offering to members and is a rebadged version of the existing Balanced option. The default Balanced option has outperformed the SuperRatings Index over the longer term. Choice members have access to a basic investment menu consisting of 2 Diversified options and a Cash Plus option.

TWUSUPER's fees are rated average across all account balances assessed. No fees are charged for establishing an account or switching investment options, however an exit fee does apply.

Members are provided with a full suite of insurance, although the higher risk nature of the transport industry means relatively high premium rates. Members are automatically provided with 2 units of Death and TPD cover upon joining and can apply for additional cover of up to $10 million in Death and $2.5 million in TPD. Income Protection (IP) insurance covers up to 84.5% of salary (which includes superannuation contributions) with a choice of 30 or 90 day waiting periods. Members are required to work at least 15 hours per week to be eligible for IP insurance.

TWUSUPER provides members with a good selection of additional benefits, including access to financial planning services through Industry Fund Financial Planning (IFFP) and discounted banking products through ME.


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