Reading time: Changing jobs and your super
Starting a new job? Stay with TWUSUPER
Asking your new employer to pay your super into your TWUSUPER account helps avoid fees on multiple accounts and allows you to stay in an Industry Super Fund.
It’s easy to stay with TWUSUPER when you change jobs. Nearly half of our members have been with us on average for over 20 years. Even if you change industries you can still enjoy the long-term benefits of the Industry Super Fund for the people who keep Australia moving.
All you need to do is use the Choice of Fund form and give it to your payroll department. You can apply online or download and print the PDF form.
Letter of compliance
If your payroll department requires a Letter of compliance, you can download it here.
Why you're better off with TWUSUPER
TWUSUPER is the Industry Super Fund for people in transport where:
- we are run only for members
- long-term investment returns are solid*
- we offer flexible insurance for people in transport
- our Account Managers have strong relationships with employers in the transport industry and work with them to promote workplace wellness and to help the workforce prepare for retirement.
Super and redundancy
If you're made redundant, you may be entitled to a redundancy payment from your employer. You can find out more about your redundancy entitlements from the Fair Work Ombudsman.
If you are entitled to a payout it could be for a large sum, so you may want to consult a financial planner. TWUSUPER members can get comprehensive financial advice** over the phone or face-to-face - there is no charge or obligation for the initial consultation. If you have queries about the tax treatment of a redundancy payment, see the ATO website.
Below is some information about your insurance and government resources to help you through redundancy. In some cases it may be possible to access your super early if you're in financial hardship after a significant time out of work. Please call us on 1800 222 071 to talk through your options.
Another good resource that could help you at this time is MoneySmart***, a service run by the Australian Securities and Investments Commission (ASIC). Their website includes tools and resources to help you through financially difficult times - including when you're not working.
Need a hand?
If you have any questions please call us between 8am and 8pm (AEST/AEDT) weekdays on 1800 222 071.
* DISCLAIMER: Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund.
TWUSUPER has on average outperformed the average retail fund over the past 15 years. Comparisons modelled by SuperRatings, commissioned by TWUSUPER and shows average differences in net benefit of TWUSUPER's balanced investment option and the 'main Balanced option' of retail funds tracked by SuperRatings, with a 5 (99 options), 10 (44 options) and 15 (33 options) year performance history, taking into account historical earnings and fees – excluding contribution, entry, exit and additional advisor fees – of 'main Balanced options'. A ‘main Balanced option’ being the fund’s largest Balanced option where 60% to 76% of the fund’s assets are invested in growth investments. This is generally the fund’s default option. Where a fund does not have a Balanced option, the option closest to SuperRatings benchmark range of 60% to 76% growth investments is used. Outcomes vary between individual funds. Modelling performed on 14 October 2021 using data as at 30 June 2021. See Assumptions for more details about modelling calculations and assumptions. Consider your personal financial situation, needs and objectives, which are not taken into account in this information, and the TWUSUPER Product Disclosure Statement (PDS) available at www.twusuper.com.au before making an investment decision. TWU Nominees Pty Ltd, ABN 67 002 835 412, Australian Financial Services Licence 239163 ('TWUSUPER') as trustee of the TWU Superannuation Fund (ABN 77 343 563 307).
**The Trustee has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL No 232514 to facilitate the provision of financial advice to members of TWUSUPER (Fund). Advice is provided by TWUSUPER financial advisers who are representatives of IFS. Fees may apply. Further information about the cost of advice is set out in IFS' Financial Services Guide, a copy of which can be obtained by calling 1800 222 071. IFS is responsible for any advice given to you by its representatives.
The cost of providing certain phone-based financial advice services is incorporated into the fees that are applicable to all accounts. Fees for comprehensive financial advice provided to you either over the phone or face-to-face are charged to you directly and will be set out in your Statement of Advice.
General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Refer to our Product Disclosure Statements (PDS). The PDS is relevant when deciding whether to acquire or hold a product.
***This link will take you to external websites that are not connected to the Trustee. The Trustee does not endorse and is not responsible for the accuracy of those websites.