FAQ's
Choice of Fund
Do my employees have to be given a choice?
Yes. Either by industrial agreement or they can choose the superannuation to which you will make future superannuation guarantee contributions. This election can be made once in any 12 month period or more if you agree.
Do my employees have to choose?
If an employee does not make a choice your employer contributions could be paid into the fund that your have chosen, known as a ‘Default Fund’. The T.I.S. Fund has the ideal structure to be nominated as your Default Fund.
Why choose the Transport Industry Super Fund?
Low costs – our administration fees are very low. As your account balance increases our fees remain the same. This allows you to maximise the return on your investment.
Protection – each member aged between age 15 and 64 can hold (automatic) Default Cover for Death and Total & Permanent Insurance, and can retain cover up until age 70 regardless of their occupation from 1 March 2012. Additional Family Protection cover can also be purchased to increase the benefits paid.
Portability – the TIS Fund is the industry fund for the superannuation industry. When you work for a number of different employers during your working life, you can leave your superannuation with the TIS Fund and each new employer can contribute to it on your behalf while you are employed. It saves you keeping track of multiple super funds and consolidation maximises your investment.
Security – with the TIS Fund, your benefits are invested with recognised fund managers in high quality, diversified assets including property and shares in Australia and overseas. This ensures our returns are consistent over the long-term.
Advice and information – dial freecall 1800 777 060 for free advice and information on your individual circumstances.
How is choice exercised?
The employee should complete the Australian Taxation Office (ATO) ‘Choice of Superannuation fund Standard choice form – information for employees’ which is available from the TIS Fund.
T.I.S. Fund Insurance.
Where do I find information on the upgraded insurance offer?
The Insurance Fact Sheet provides details of the improved insurance offer available.
