About our merger with TWUSUPER
We are pleased to announce we have now signed a Successor Fund Transfer Deed with TWUSUPER. This formalises the commitment of Mine Super and TWUSUPER to the merger and sets out what has been agreed by both funds.
As the planning process continues, here’s more information about the implementation of the merger with TWUSUPER.
Why is a merger in the best interests of Mine Super members?
A combined fund will be larger; and increased scale means we can further enhance our products and services, deliver greater investment opportunities and likely, lower fees.
How would the merger work?
Mine Super is the successor fund which means TWUSUPER members will join the Mine Superannuation Fund.
Do members get to vote?
Members can’t vote on the merger, with the decision to merge made by the trustee of the Mine Superannuation Fund. Whilst all Board directors are required to represent the best financial interests of all members, there are four union nominated directors from the Mining and Energy Union (MEU), along with four employer nominated directors from NSW Minerals Council and Queensland Resources Council. There is also one independent director nominated by the Trustee.
Why TWUSUPER?
TWUSUPER has similar values to Mine Super with a shared commitment to support positive retirement outcomes for workers. TWUSUPER was established in 1984 and is one of the newer industry funds of the modern superannuation system.
Do members have to do anything?
As we work through the merger process, there is nothing for Mine Super members to action; so there’s no need for things like ‘re-joining’ the fund. Down the track, if members are required to do anything regarding their account with Mine Super, they’ll be given notice.
Will Mine Super’s service change?
Mine Super will continue to service and support members from a number of regional office locations where our members reside, in addition to the Newcastle-based Contact Centre, delivering regular pit-top talks and being present at industry and community events.
How to keep updated
We’ll continue to communicate key milestones to our members via email and on our website. As a member, it’s important your email address is up to date and you can check this by logging into your online account. Haven’t registered for online account access? It’s easy to do – just follow these steps.