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TWUSUPER receives MySuper approval
TWUSUPER's balanced default investment option will become its MySuper investment option following approval from the Australian Prudential Regulation Authority (APRA).
TWUSUPER chief executive Debora Jackson said the change should not affect members as it had been well placed to meet APRA's criteria for MySuper.
"For 30 years TWUSUPER, the industry fund for the transport and logistics industry, has delivered its members a strong service offering, with low fees, no commissions, and of course, all profits to members," she said.
"And as our MySuper product is the same balanced option product that TWUSUPER has always offered, there will be no change for our members who are in the default option."
The fund will launch a new ‘Toolbox' for employers this week, which allows them to keep up with Stronger Super changes.
It has over 130,000 members with more than $3 billion under management.
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