Changing jobs and your super
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.
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:
- all profit goes to 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.
* TWUSUPER as an 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 options of retail funds tracked by SuperRatings, with a 15 year performance history, taking into account historical earnings and fees – excluding contribution, entry, exit and additional adviser fees. Outcomes vary between individual funds. Modelling as at 30 June 2020. See Assumptions for more details about modelling calculations and assumptions. Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund.
**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 indirect 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.