TWUSUPER - Balanced (MySuper)Information shown is for the balanced option.
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.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$78|
|Administration Fee (%)||0.35%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||Transport and Logistics Workers|
|Offered to Public?||Yes|
Fund Highlights - provided by TWUSUPER - Balanced (MySuper)
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||Comparison|
- 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 30/06/2016, 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.
Percentage of Growth Assets
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 fund. The Balanced (MySuper) strategy has outperformed the SuperRatings Index over the longer term. Choice members have access to a basic investment menu consisting of Cash Plus, Balanced (MySuper) and Equity Plus.
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.