It's quick and easy to join
TWUSUPER acts in your best interests
Whether you're a contractor or sole trader with an ABN, or the owner of an incorporated (Pty Ltd) small business, your superannuation for retirement is just as important for you as it is for employees. That’s why TWUSUPER makes sense.
We act in your best interests an industry super fund run only for members. We have a nearly four-decade strong history of solid returns and give you a choice of investment options to suit your needs and preferences.
Super for small business and sole traders
Whatever business structure you have, TWUSUPER can handle it. If your business is a Pty Ltd company, then technically you are an employee of the business (even though you are also an owner). This means that, under Australia’s superannuation laws, your company is required to pay you the super guarantee (SG) of at least 11% of your salary from the financial year starting 1 July 2023. The SG is gradually rising to 12% a year by 1 July 2025.
Super for sole traders with just an ABN is different – it's up to the sole trader when, how much and even if superannuation is put aside each year. So what are the benefits of paying yourself super if you are a sole trader?
Benefits of super for sole traders
Like anyone, as a sole trader you want to retire one day, but without adequate super, a comfortable retirement might not be easy. And without compulsory super, it is even more important for sole traders to take responsibility for their super, while they’re still earning. The more you contribute to your super while you’re earning, the more you’ll have in retirement, when you’re not.
What's more, income you invest through super contributions is generally taxed at a lower rate than if you put it in your bank account. There is a contributions cap of $27,500 per year before the marginal income tax rate kicks in on further contributions (this could be more where you can use the 'carry forward' rule – see our Product Disclosure Statement).
Strong long-term performance
TWUSUPER has on average outperformed the average retail fund over the past 20 years*.
Insurance that covers people in transport
Not all super fund insurance covers jobs in transport – ours does!
Super for people on the move
We help busy people like you understand super: Over the phone, in person and at seminars.
*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 20 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 (50 options), 10 (31 options) and 15 (16 options) year performance history, taking into account historical earnings and fees – excluding contribution, entry, exit, fee caps/tiering 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 6 October 2023 using data as at 30 June 2023. 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).