Reading time: Mine Super and TWUSUPER achieve merger milestone with Successor Fund Transfer Deed signing
2 October 2023
TWUSUPER and Mine Super, two industry super funds, today announced the signing of the Successor Fund Transfer (SFT) Deed, a major milestone in their merger discussions. The SFT Deed follows the signing of a Heads of Agreement in April and which, on transfer, will create a combined fund managing nearly $20 billion on behalf of 150,000 members.
A look back over the 2022/23 financial year
3 August 2023
After a year of challenging financial conditions for many of our members, we have some good news for you. The Balanced (My Super) investment option ended the 2022/23 financial year with a final return of 9.14%, outperforming a number of larger industry funds*.
*This figure is net of fees and taxes. Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund.
Changes from 1 July 2023
21 June 2023
The new financial year brings some changes to super and retirement accounts.
Federal Budget 2023
11 May 2023
Unless you are lucky enough to have over $3 million in super, the Federal Budget 2023 did not contain any changes that affect the tax treatment of super.
TWUSUPER and Mine Super move forward on merger plans
21 April 2023
A better future for everyone in transport and mining
We are pleased to advise that TWUSUPER and Mine Super are moving towards a merger following the execution of a Heads of Agreement to create a combined industry super fund managing nearly $20 billion for over 150,000 members.
Super and women in transport
20 April 2023
More women are working in transport and logistics than ever before. But statistics show that women will retire with 24% less super on average than men. Find out how you can take steps to improve your life in retirement - and how TWUSUPER can help.
Don't forget about the concessional contributions caps
19 January 2023
'Concessional' contributions refer to any contributions you make to super before tax.
The Government limits the amount of concessional contributions you can make – for most people, the cap for the 2022/23 financial year is $27,500.
TWUSUPER and Mine Super enter MOU
19 December 2022
TWUSUPER and Mine Super have entered into a preliminary non-binding Memorandum of Understanding (MOU) to explore a merger of the two funds. If undertaken, a merged entity would create a combined fund managing nearly $20 billion for over 150,000 members.
TWUSUPER and Mine Super share the vision of creating a sustainable fund which protects and promotes the interests of workers in the mining and transport industries. In accordance with the MOU, both Mine Super and TWUSUPER are undertaking extensive due diligence to determine the best outcome for all members and mining and transport operators arising from a prospective merger. This process may take several months.
TWUSUPER remains committed to delivering for members. There is no change to any aspect of any member’s funds, investments or insurance as a result of entering into this preliminary non-binding MOU.
Re-building your super after COVID
21 November 2022
Have you made a withdrawal from your super in the past (for example as part of the COVID early release scheme) and are now ready to start building your retirement savings again?