MTAA Super

MTAA Super is an industry-based super fund. Established for the motor trades and allied industries, it is now a public offer fund open to all Australians.

What MTAA Super offers

The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.

Features offered to MTAA Super members

  • Choice of eight investment options
  • A range of insurance options
  • Pension products for managing super in retirement
  • Online access to account details, including the MTAA Super app
  • Access to general and limited personal advice 
  • Fee for service financial advice through Industry Fund Services
  • Member offers and discounts on health insurance through NIB and financial products and home loans through ME Bank

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How to join MTAA Super

You can sign up for an MTAA Super account via its website.

It’s important to think carefully about the super fund you choose, and to read the product disclosure statement (PDS) before you sign up for any superannuation product.

Remember to tell your employer that you’ve joined MTAA Super. Your employer will give you a choice of super fund form that you will need to sign and return to them.

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Does MTAA Super offer an ethical investment option?

At the time of writing, MTAA Super does not offer a super fund with a specific ethical investment option. However, it says it does consider environmental, social, and governance (ESG) factors as part of their investment approach in general.

Find out more about ethical super investment options.

How can I track the growth of my MTAA Super account ?

Members can track and manage their super account online through Member SuperSite (for super accounts), e-Pension (for account-based pensions), or the MTAA Super app. 

Members can log in using their member number to:

  • View annual statements 
  • Check account balance
  • Vheck insurance cover
  • Vhange investment options 
  • View account balances in each investment option 
  • View transactions – like contributions, insurance and administration fee deductions and tax 
  • Keep personal details up to date 
  • Provide Tax File Number and consent to a search for lost super on their behalf.

Members can also find out the current balance of their super account in their annual statement, or by calling MTAA Super on 1300 362 415 (open Mon-Fri).

What should I check on my MTAA Super statement?

It’s important to check your regular super statements closely, looking out for factors including:

  • Personal details are up-to-date
  • Nominated beneficiaries are up-to-date
  • Tax File Number (TFN) is recorded
  • Super contributions from employer and/or your voluntary contributions are correct
  • Investment asset class choices are appropriate for your life stage
  • Amount paid in fees
  • Insurance still adequate
  • Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
  • The big picture – are you happy with your super fund overall?

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When can I access my MTAA Super?

You can access your super at age 65, but it could be earlier at what’s known as your preservation age, which can be from 55 years up to 60 years depending on what year you were born. To access your super, typically you need to have permanently decided to stop working, or have left an employer after turning 60. Earlier access to your super is possible in certain circumstances, such as:

  • If your home is being repossessed
  • Cases of severe financial hardship
  • On compassionate grounds if you or your dependant is diagnosed with a terminal illness needing palliative care, or if you are temporarily or permanently unable to work or need to work less hours due to a physical or mental medical condition, or if you are disabled and need to modify your home or car to meet your needs, or if you need help to pay for the funeral expenses of a dependant
  • If your super balance is less than $200 and you are not in gainful employment
  • Through the First Home Super Saver Scheme
  • If you’re a temporary resident departing Australia

Can I get the Age Pension as well as MTAA Super?

You may be able to receive a full or part-pension from Centrelink depending on your level of assets (including super and account-based pension balance) and income (including from any account-based pension you may have and how much income your super is assumed to be able to pay you). Find out how the Age Pension works and how much you can receive in super before your pension is affected.

About MTAA Super

MTAA Super was founded in 1989 as the national industry super fund for motor trades and allied industries. They support around 203,000 Aussie workers and  50,000 employers as of their 2018-19 Annual Report.

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Written by: TJ Ryan | Last updated: November 19, 2019