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Transition plan

The Insurance in Superannuation Voluntary Code of Practice (‘the Code’) started on 1 July 2018.

TWU Nominees Pty Ltd ABN 67 002 835 412, AFSL No 239163 (‘TWUSUPER’, ‘our’, ‘we’) intends to comply with the Code to the extent that the Code’s provisions are in line with the best interests of our members. Whilst we already comply with many aspects of the Code, we will continue to review our insurance benefit design and processes against the new benchmarks set out in the Code and update our transition plan accordingly.

This Transition Plan sets out the key dates by which TWUSUPER intends to implement the requirements of the Code. These dates will be updated, should there be any changes.

TWUSUPER’s insurance philosophy includes a focus on benefit design and providing a base level of cover for death and TPD cover that is appropriate and affordable, and at a cost that does not inappropriately erode retirement account balances.

1 July 2019: Automatic cessation of cover and reinstatement

The Government’s Protecting Your Super (PYS) rules – designed to protect super accounts from unnecessary erosion by fees including insurance – start operating from 1 July 2019.

The PYS rules mean that if your super account hasn’t received any type of contribution or roll-in for more than 16 months regardless of balance, you may automatically lose any insurance cover you have with the Fund. And if your super account falls below $6,000 it may be transferred to the ATO. If there’s a chance your insurance cover may be removed from your super account we’ll contact you first with options for keeping your cover, if that's what you want.

The PYS rules have brought forward changes that would otherwise have been considered by 30 November 2020.

1 July 2019: Cancelling of cover, providing information, annual statements and claims handling


  • provide necessary communications to you regarding contribution inactivity
  • produce an insurance in superannuation Key Facts Sheet that will be available on our website
  • ensure that annual member statements contain all requisite information about your insurance cover and premiums
  • put in place appropriate governance arrangements for the review of claim decisions.

1 August 2019: Communications, insurance promotion and assistance for members to make informed decisions, duplicate cover


  • enhance its communication in welcome letter packs, including Key Facts Sheets, and details on cancelling or changing insurance cover
  • implement processes to seek members’ permission to help determine whether any other insurance policies are in place.

TWUSUPER intends to comply with the remaining requirements of the Code as early as possible, but no later than 30 June 2021 to allow time to work with our service providers and the existing contractual arrangements.

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