SIGNIFICANT EVENT NOTICES

Important update to your account

12 June 2025

This Significant Event Notice advises members of a number of mostly minor changes, including:

1. Minor changes to some of the investment options’ investment strategies and risk profiles (not applicable to defined benefit members).
2. Clarification of how reversionary pensions operate (not applicable to super and defined benefit members).
3. Insurance updates (not applicable to pension and defined benefit members).
   • Information on the Insurance Administration Fee.
   • Changes to the insurance definition of Limited Cover (Mining Division) and New Events Cover (Default Division).
4. Key Management Personnel – where you can find this information on our website.

1. Investment strategy changes – for members invested in these options, the changes took effect on 21 March 2025. 
2. Reversionary pensions – this notice is a clarification of existing product rules (previously advised), so there is no change to how reversionary pensions operate as a result of this notice.
3. The Insurance Administration Fee changes advised in this notice are already built into the reduced premium rates communicated to members in February 2025. The new insurance definitions will apply to all members with insurance in the relevant insurance division.
4. Key Management Personnel – there is no impact on member accounts. 
   

We're excited to announce that our merger with TWUSUPER will take place on Friday, 21 March 2025

13 February 2025

Team Super is merging with TWUSUPER on 21 March 2025. To complete the merger some member services will be unavailable, including our online account, for a period of time while we on-board TWUSUPER members. The start date varies depending on the transaction type (as outlined in the SEN) and services will be back up and running on 14 April 2025. 

This SEN also updated members on:

Insurance changes

• A reduction in insurance premiums.
• Minor changes to the Age Bands for Basic Cover.
• Minor changes to the IP Waiting Period factors in the Mining Division.
  
  

Nominating beneficiary changes

• Renewal of Binding Beneficiary nominations will no longer need to be witnessed.
• Introduction of non-binding beneficiary nominations for pension members.
• Greater choice with reversionary pensions – pension members will now be able to nominate any dependant (spouse, child, any other person financially dependent on you) to receive their pension as a reversionary pension if they die.

Merger

• No direct impact on existing Team Super members, outside of some services being unavailable.

Insurance changes

• Reduced insurance premiums.

Nominating beneficiary changes

• Easier nominating beneficiaries process (i.e. no witnesses required for renewal of expiring binding nominations).
• Greater choice for pension members.