Industry SuperFund model effectively vindicated by Royal Commission
The final report from the Royal Commission into Banking and Financial Services, released in February 2019, found that misconduct in the superannuation sector was mostly the result of individual and business profit being put before member needs. As an Industry SuperFund, TWUSUPER has had a 'profit for member' model for over 30 years.
The structure of Industry SuperFunds like TWUSUPER means we avoided many of the conflicts of interest that meant so many retail funds were found in the Royal Commission's final report to have fallen below community expectations. TWUSUPER fully co-operated with the Royal Commission requests to supply information, but in the end we were not required to give evidence.
We show our support of the transport and logistic industry by investing in the infrastructure and businesses that keep Australia moving. With TWUSUPER, all profits end up in members’ accounts, not shareholders’ pockets. Everything is tailored to the needs of transport and logistics workers – including the investment options and insurance we offer.
See how TWUSUPER has outperformed
Over the past 15 years, we have on average delivered more to members than the average retail super fund. For example, based on a starting income of $50,000 and a starting super balance of $60,000, TWUSUPER has delivered $39,723 more than the average retail super fund over the past 15 years.* See for yourself how much better you could have been with TWUSUPER compared with the average retail fund with our Compare the pair calculator.
* Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund. Comparisons modelled by SuperRatings, commissioned by TWUSUPER. Modelled outcome shows 15 year average difference in net benefit of TWUSUPER’s balanced investment option and the main balanced options of the 45 retail funds tracked by SuperRatings, with a 15 year performance history, taking into account historical earnings and fees – excluding contribution, entry, exit and additional advisor fees. Outcomes vary between individual funds. Modelling as at 30 June 2018. See Assumptions for more details about modelling calculations and assumptions.