Transport Industry Superannuation Fund

The Fund

What is the TIS Fund?

The T.I.S. Super Fund is a retirement savings fund that operates for the benefit of its members and their dependants. It was set up to assist members to save for retirement and it does comply with all government regulations. As a member of a regulated superannuation fund, you receive the benefits of the special tax treatment available for retirement savings.

The T.I.S. Fund has been established to provide a valuable service for the transport industry and associated industries. You can continue to use The TIS Fund as your super fund even if you change your employment or go to another industry.

The Fund is an accumulation fund where contributions and interest earnings are credited to your account as they are earned.  Administration fees, insurance premiums and taxes applicable to your benefits are deducted from your account..

Who Looks After the TIS Fund?

The Trustee Company for The TIS Fund is TIS Pty Ltd and that entity is responsible for the management and investment of the assets of the fund.

The company has an equal number of employee and employer representatives on the Board.  An independent chairman is appointed from time to time to assist the Directors to run the Fund.

The Directors also use a range of specialist consultants to look after the Fund and its investments.

Information on the administrator, current investment manager and others associated with the management of the Fund is provided in our Annual Report which can be viewed on this website.

T.I.S. Pty Ltd holds an Australian Financial Services Licence No. 247249 that allows us to provide superannuation products, as well as general advice about its products to members and prospective members of the Fund.

Your Privacy

The T.I.S. Fund protects the privacy of its members. We only collect the information about you that we need to administer your superannuation account and to make sure you receive the benefits to which you are entitled as a member of The T.I.S. Fund. We will not use information about you for any other purposes or pass it on to other organisations without your permission. For more information read The T.I.S. Fund Privacy Policy. If you have any questions about the privacy policy please contact the administrator on 1800 777 060 or 07 3391 6155.

How the TIS Fund Works

All the contributions paid into the Fund by you or your employer, as well as any superannuation money you transfer into The T.I.S. Fund, are placed into your personal account, after deduction of any taxes required by the government. The money in your account is then invested together with the money from all other members and the net earning on the investment are reflected by a net increase or decrease in the unit price which is calculated half-monthly. Administration fees and insurance premiums for your insurance cover will be deducted from the cash amount in your account which avoids cashing units at sometimes inopportune times.

About Contributions

Who can pay into The T.I.S. Fund?

Contributions to The T.I.S. Fund must be made initially by a participating employer on behalf of a member. The Fund can accept all mandated contributions or extra contributions to the member including salary sacrifice.

When you are a member, you can make personal contributions as an employee or self-employed person up to age 75 personal contributions between age 65 and 75 are subject to the work test.

You can transfer (or “rollover”) money from other superannuation funds or retirement savings accounts or eligible rollover funds to The T.I.S Fund.

You can make contributions on behalf of your spouse while he or she is under 65, or to age 70 if the spouse is working at least 40 hours during a period of not more than 30 consecutive days in any one financial year.

How to pay into The T.I.S. Fund?

The T.I.S. Fund has been designed with the intention of efficiently assisting employers to comply with award and superannuation guarantee obligations and to cater for individuals who wish to make personal contributions.

Contributions can be made at any time. If you would like your employer to use The T.I.S. Fund for your compulsory superannuation, advise your employer that The T.I.S. Fund is your choice of Fund by signing the necessary A.T.O. Choice of Superannuation forms.

All new members need to complete a membership application form and give it to your employer. As a member, you can make personal contributions by cheque, direct credit to our bank account or through your employer. You can also transfer any super account you have into The T.I.S. Fund. Contact the Administrator on 1800 777 060 for a Transfer Authority.

When Your Superannuation Can be Paid

Superannuation savings are intended for retirement and normally cannot be paid out in cash until you:

a)  retire at age 55 or later,

b)  become permanently and totally unable to work, or

c)  you die.

There are limited special circumstances under which you may be able to access some of your super account.

If you change employers, you can choose to leave your superannuation account in The T.I.S. Fund. Unless you make specific arrangements the cover under the Group Life Plan will cease but the account will still be charged the same low administration fees of $1.10 per week.  You can transfer other funds into your TIS Fund account.

When you retire, you can withdraw your benefits in cash or leave them there for some future provision.

What Will you Receive?

When you withdraw or transfer your money from the Fund, you will receive the full amount in your account, less a benefit payment fee of $65.

If you die, or become totally and permanently incapacitated for work, the payment from the Fund may include an extra amount if you have insurance cover.

You can nominate to whom you would like any death benefit to be paid on the application form or Nomination of Beneficiary form included in this website, or by contacting the Administrator on 1800 777 060.  The Trustee is responsible for determining the allocation to the members dependants and all dependants will be notified accordingly of that decision except if a property executed Binding Nomination of Beneficiary instruction is given.

Where is Your Money Invested?

The T.I.S. Fund Annual Report details current Investment Managers.

When you can access your benefits?

Superannuation is a long term investment for your retirement. The Government has placed restrictions on when you can get access to most of your superannuation savings.

These restricted superannuation savings are called preserved superannuation, and the age at which you can gain access to them is called the preservation age. At present, your preserved superannuation savings can only be paid out in the following circumstances:

• you reach age 65;
• you cease employment with your current employer on or after age 60;
• you retire on or after your preservation age, as set out in the following table.

• if you suffer severe financial hardship or are eligible on compassionate grounds determined by government rules
• if you change jobs and your account balance is $200 or less; or
• if you are a foreign national who has permanently left Australia. In this situation higher tax rates may apply

You may be able to cash out some of your superannuation savings earlier. For example, when you change jobs you can take out your own after-tax contributions and some types of employer contributions, provided they were paid in before 1 July 1999.

If you wish to withdraw part of your account balance yo must leave at least $1500 in your account otherwise you must withdraw your total balance.

Your Account

Your account with the TIS Fund has 2 parts:

1. Up to $300 of your investment account know as your cash account is held in capital secure investments from which fees and expenses will be deducted, eg. Administration Fees and Group Life premiums (if applicable). If your account balance is less than $200, the whole of your account balance will be in this account.
2. The second part is the remainder of your account balance which is at present invested in the TIS Option investment strategy

The cash account is held in cash or easily realisable assets so that the capital is less likely to fluctuate as does the units in the TIS option.

The money held in cash is to pay for your account expenses such as Administration Fees, Death and TPD premiums.

This account is “topped up” to $200 from receipts.

If there are no receipts before the balance drops below $25.00your cash account is topped up by the surrender of a requisite number of units in your TIS Option.

The revenue earned on all members’ cash accounts is used to cover total fund expenses.