TWUSuper has confirmed to a key Parliamentary Committee that it has embedded staff at the branch offices of the Transport Workers Union (TWU).
Answering questions on notice from the Senate Economics Legislation Committee, TWU Super acknowledged that it had appointed a Superannuation Services Officer (SSO) to each branch of the TWU “to act as an operational conduit between the branch and TWUSuper”.
It said that this arrangement was subject to a set of conditions including but not limited to:
The TWUSuper answer said that the TWU and its representatives did not need Australian Financial Services licenses to provide the service they were engaged to provide under the arrangement and that the products were issued by TWUSuper, not the TWU.
“…and TWU representatives are not engaged to provide financial product services on behalf of the Trustee,” it said.
Australia is becoming increasingly recognised as an attractive investment opportunity against global counterparts, recent analysis has found.
Pension funds in Australia and the UK are embracing recent developments that will facilitate the deployment of superannuation capital toward the energy transition in both countries.
With the Goldman Sachs’ S&P 500 long-term outlook occupying headlines over recent days, an Aussie economist has weighed in, noting that, while difficult to time, the US market is poised for a downturn.
The appetite for digital infrastructure has grown significantly among Australia’s superannuation funds, with assets like data centres, fibre optic networks, and telecommunications now viewed as strategic investments in their portfolios.
Yet again different rules depending on your relationship to either advice or industry fund