Governance and transparency

We’re open and transparent about how we operate. Here are all the details including the policies, codes and regulations that guide us.

How we operate

Spirit Super is run solely for the benefit of our members.

The Trustee has significant experience in managing your super, with a history going back to 1989.

Spirit Super is a public offer super fund established by a Trust Deed which sets out the structure of the fund, the rules for its operations, and the powers and duties of the Trustee of Spirit Super.

The Trustee has significant experience in managing super, having been Trustee of the MTAA Super fund since 1989.

Spirit Super is a resident regulated super fund under the Superannuation Industry (Supervision) Act 1993. Our activities are regulated by the Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC), Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Taxation Office (ATO).

Our Trustee

The Trustee of Spirit Super (ABN 74 559 365 913) is Motor Trades Association of Australia Superannuation Fund Pty. Limited (ABN 14 008 650 628, AFSL 238 718).

The rules about the internal management of the Trustee (including for example, how directors are appointed) are set out in the Trustee Constitution.

Licence information

Trustees of registrable superannuation entities must be licensed by APRA, the industry's prudential regulator. APRA granted the Trustee an RSE Licence (L0001069) effective from 28 February 2006.

Spirit Super is registered by APRA as a registrable superannuation entity (R1004373) (29 March 2006).

The Trustee also holds an Australian Financial Services Licence (AFSL 238 718) issued by ASIC on 31 January 2004. The licence authorises the Trustee to provide a super trustee service and to deal in and provide financial advice about super products.

AIST Governance Code 

The AIST Governance Code is a principles-based framework that promotes continuous improvement in governance practices within the profit-to-members super sector. The Trustee has adopted the Code as part of its governance practices and will report annually to the AIST Code Monitoring Panel on its compliance with the Code.

Code of conduct 

We aim to achieve sustainable performance and deliver value to our members without compromising our values or integrity.  Our Code of Conduct demonstrates Spirit Super's commitment to ethical and responsible behaviour.

All board members, executives and employees of Spirit Super adhere to the values and principles set out in the Code of Conduct.

Annual Trustee Determination and Member Outcomes Assessment

Each year the Trustee is required to determine whether the financial interests of members are being promoted by the Trustee having regard to a comparison with other similar products and specified benchmarks and factors.The annual determination, and a summary of the assessments and comparisons on which the determination is based must be made publicly available on the website.

The Trustee's Member Outcomes Assessment is a holistic assessment of our performance across relevant areas of the business. This includes investment performance; costs and fees; insurance; scale; options, benefits and facilities; and operating costs. The aim of the review is to measure our performance against our strategic objectives and to identify areas of improvement that will allow us to enhance business operations and drive sustainable delivery of quality outcomes to members.

The latest Trustee determination and members outcomes assessment is available to download below.

Trustee Determination and Member Outcomes Assessment for the year ending 30 June 2020.

Insurance in Superannuation Voluntary Code of Practice

We’re adopting the Insurance in Superannuation Voluntary Code of Practice (Code). The Code sets out the minimum requirements for insurance within super funds. Our insurance arrangements are expected to be fully compliant with the Code by 31 December 2021. 

Our Code transition plan details how and when we’ll meet the Code requirements . 

How our Board works

The Board is responsible for the overall governance and strategic direction of Spirit Super. It makes sure that Spirit Super is managed in our members’ best interests by strategically directing and prudently overseeing the management of Spirit Super, and by demanding high standards of conduct and service of our Executive and service providers. 

Our Board is made up of:

  • four Member-Representative Directors
  • four Employer-Representative Directors
  • three Independent Directors

Meet our Board members 

How our Board members are appointed

There are rules about how our Board members are nominated, appointed and removed. The process varies depending on the type of Director role on the Board.

Find out how the process works 

Remuneration of our Directors and Executive Officers

Our remuneration structure is designed to attract and retain the experts we need to get the best outcomes for our members.

View the current remuneration information for our Directors and Executive Officers.

Board Committees

The Trustee Board has established Committees to oversee certain business areas within Spirit Super. These Committees are made up of members of the Board and regularly report to the Board. The responsibilities and members of each Board Committee is listed below.

Investment Committee

The Investment Committee is responsible for the Trustee's investment-related functions. Key duties include:

  • reviewing the member investment choice options and the risk and return objectives for each
  • reviewing and approving the long-term strategic asset allocation
  • reviewing the portfolio construction plan for each of the main asset classes
  • reviewing the performance of each investment option against appropriate benchmarks, and
  • ensuring the investment strategy is executed in accordance with the Fund's risk management framework.

Committee members: Susanne Dahn (Chair), Naomi Edwards, Anne O'Donnell, Peter Savige, Geoff Lowe and Jess Munday.

Finance, Audit and Compliance Committee

The Finance, Audit and Compliance Committee oversees fund finances and compliance obligations. Key duties include:

  • the monitoring and assessment of the financial management of the Trustee and the Fund
  • the compliance of the Trustee in managing the Fund, and 
  • oversight of the Fund's auditors. 

Committee members: John Mazengarb (Chair), Geoff Lowe, Tom Lynch and Anne O'Donnell.

Risk Committee

The Risk Committee helps the Trustee manage risk. Key duties include:

  • monitoring, reviewing and assessing the management of risk in relation to the Trustee and the Fund, and
  • providing oversight of the implementation and operation of the Trustee's Risk Management framework and to form an overall view of the strength of the Trustee's risk position relative to its risk appetite. 

Committee members: Anne O'Donnell (Chair), Susanne Dahn,  David Smith and John Mazengarb.

 Remuneration and Nominations Committee

The Remuneration and Nominations Committee ensures the right people are appointed to the Board.

Key duties include:

  • reviewing and making recommendations for the remuneration of Relevant Persons including Directors
  • assessing fitness and propriety of new and existing Directors
  • assessing conduct of Executives against Prudential Requirements and risk
  • monitoring and assessing succession planning for the Board and its Committees
  • facilitating and implementing annual and triennial evaluations of the Board and the Directors.

Committee members: Rhonda O'Donnell (Chair), Tom Lynch, Susan Parr, David Smith and Naomi Edwards.

Read the Remuneration and Nomination Committee Charter

Member Benefits and Services Committee

The Member Benefits and Services Committee monitors, reviews and assesses the following:

  • member services that impact on Fund products
  • expected member outcomes and service standards
  • brand and marketing efforts
  • member outcomes against expenditure, and
  • the operation of the Trustee's Insurance Management Framework and Strategy.

Committee members: Naomi Edwards (Chair), Jess Munday, Rhonda O'Donnell, David Smith and Susanne Dahn.

Our policies and disclosures

We’re bound by policies, codes, regulations and other compliance documents that make up the governance structure of Spirit Super.

Policies and disclosures

Actuarial report for the defined benefit funds (Tasplan)

Proxy voting policy

Register of relevant duties and interests

Remuneration disclosures

Tax transparency report

Trust deed

Trustee Constitution

Annual reports and financial statements

Each year we provide detailed reports on member outcomes, investment performance and financial management.

Annual reports

Note: MTAA Super became Spirit Super on 1 April 2021. Annual reports for the years before 2020-21 were prepared by the Trustee for MTAA Super.

Annual report 2019-2020

Annual report 2018-2019

Historic annual reports – Tasplan

Note: Tasplan merged with MTAA Super to become Spirit Super on 1 April 2021.

Annual report 2019-2020 

Annual report 2018-2019 

Fund and Trustee Financial Statements

Note: MTAA Super became Spirit Super on 1 April 2021. Financial Statements for the years before 2020-21 were prepared by the Trustee for MTAA Super.

Document name

Financial year ended

2020 Fund Financial Statement 

30 June 2020

2020 Trustee Financial Statement 

30 June 2020

2019 Fund Financial Statement 

30 June 2019

2019 Trustee Financial Statement 

30 June 2019

Historic Fund and Trustee Financial Statements – Tasplan

Note: Tasplan merged with MTAA Super to become Spirit Super on 1 April 2021.

Document name

Financial year ended

2020 Financial Statements 

30 June 2020

2019 Financial Statements 

30 June 2019

Tax Transparency Report 

We’ve signed up to the voluntary Tax Transparency Code, a set of principles and standards to guide businesses on how they publicly disclose tax information. To adhere to the Code, we’ll publish a Tax Transparency Report each year. The Report is voluntary and provides extra information about our tax position, risks and strategy.  It’s part of our commitment to transparency in how we operate and manage our members’ money.

Our Tax Transparency Report is available around February or March each year, after we’ve finalised our annual tax return.

Read our 2021 Tax Transparency Report

Note: MTAA Super became Spirit Super on 1 April 2021. The Tax Transparency Report for 2021 was prepared by the Trustee for MTAA Super.

Significant event notices

We let members know about major changes by sending significant event notices (SENs). These notices are provided by email or post, depending on member communication preferences.

Note: MTAA Super became Spirit Super on 1 April 2021. Any SENs sent before this date were sent by MTAA Super to MTAA Super members.

Notice date

Nature of event or change

Impact of change

February 2021

Information for MTAA Super accumulation members about merger with Tasplan to become Spirit Super

On 1 April 2021, MTAA Super will merge with Tasplan to become Spirit Super. This will mean changes to insurance (including the amount and cost of cover), fees and investment options.  

February 2021

Investment changes for accumulation members effective 1 April 2021

Outlines the strategic asset allocation and investment objectives for Spirit Super investment options from 1 April 2021. 

February 2021

Insurance changes for accumulation members effective 1 April 2021

Details insurance changes effective from 1 April 2021. To be read in conjunction with the Important information for MTAA Super accumulation members notice issued in February 2021.

February 2021

Information for MTAA Super pension members about merger with Tasplan to become Spirit Super

Notification that on 1 April 2021, MTAA Super will merge with Tasplan to become Spirit Super. This will mean changes to your fees and investment options. 

February 2021

Investment changes for pension members effective 1 April 2021

Outlines the strategic asset allocation and investment objectives for Spirit Super investment options from 1 April 2021. To be read in conjunction with the Important information for MTAA Super pension members notice issued in February 2021.

March 2021

Inactive low balance accumulation members

Notification that low balance inactive accounts will be transferred to the ATO on 22 March 2021.

September 2020

Accumulation members 

Notification that annual statements are available online, an update on the merger with Tasplan, changes to indirect fees and costs, and legislative changes.

August 2020

Pension members

Notification that annual statements are available online, an update on the merger with Tasplan, changes to indirect fees and costs, and legislative changes.

April 2020

Pension members

Notification of the Government's changes to super as part of its economic response to the impacts of COVID-19.

April 2020

Term Allocated Pension members

Notification of the Government's changes to super as part of its economic response to the impacts of COVID-19.

December 2019

Accumulation members 

Notification of revised insurance fees, default cover for new and low balance members, and rules about the recommencement of cover.

November 2019

Impacted accumulation members 

Notification that members with an account balance less than $6,000 between 1 November 2019 and 31 March 2020 may lose their insurance on 1 April 2020.

November 2019

Accumulation members

Notification that annual statements are available online, updated indirect cost ratios, strategic asset allocations and legislative changes.

September 2019

Pension members

Notification that annual statements are available online, updated indirect cost ratios, strategic asset allocations and legislative changes.

April 2019

Inactive account  
accumulation members

Notification that from 1 July 2019, all insurance on super accounts inactive for 16 months or more will be automatically cancelled.

April 2019

Inactive low balance account accumulation members  

Notification that low balance inactive accounts will be transferred to AUSfund on 17 May 2019.

March 2019

Accumulation members

Notification that the Government passed legislation known as 'Protecting Your Super' which has several changes that may affect insurance cover and super fees. 

Historic Tasplan SENs

Note: Tasplan merged with MTAA Super to become Spirit Super on 1 April 2021. Any SENs sent before this date were sent by Tasplan to Tasplan members.

Notice date

Nature of event or change

Impact of change

15 February 2021 - super members

Merger with MTAA Super to become Spirit Super

On 1 April 2021, Tasplan and MTAA Super will merge to become Spirit Super. Members accounts will be transferred under a successor fund transfer. This notice provides important information about the transfer process, service availability and transaction processing and account changes.

15 February 2021 - pension members

Merger with MTAA Super to become Spirit Super

On 1 April 2021, Tasplan and MTAA Super will merge to become Spirit Super. Members accounts will be transferred under a successor fund transfer. This notice provides important information about the transfer process, service availability and transaction processing and any changes to your account.

15 February 2021 - defined benefit members

Merger with MTAA Super to become Spirit Super

On 1 April 2021, Tasplan and MTAA Super will merge to become Spirit Super. Members accounts will be transferred under a successor fund transfer. This notice provides important information about the transfer process, service availability and transaction processing and account changes.

13 November 2020

Insurance changes – category A

This notice informs category A members of changes to our insurance product, including changes to the cost and amounts of some types of cover, as well as changes to some product features,from 8 January 2021.

13 November 2020

Insurance changes – category B

This notice informs category B members of changes to our insurance product, including changes to the cost and amounts of some types of cover, as well as changes to some product features,from 8 January 2021.

17 August 2020

Insurance changes - category A

This notice informs category A members of changes to the cost of insurance with Tasplan, from 30 September 2020.

17 August 2020

Insurance changes - category B

This notice informs category B members of changes to the cost of insurance with Tasplan,from 30 September 2020.

17 August 2020

Tasplan OnTrack - Maintain stage changes

This notice is to inform Tasplan OnTrack® – Maintain stage members of changes to the asset allocation applying from 30 September 2020.

17 May 2019

Insurance changes - Tasplan Protect 1 to default A insurance

From 1 July 2019, our insurance product and provider are changing. This notice provides information about the new insurance arrangements and the cost of cover.

17 May 2019

Insurance changes - Tasplan Protect 1 to default B insurance

From 1 July 2019, our insurance product and provider are changing. This notice provides information about the new insurance arrangements and the cost of cover.

17 May 2019

Insurance changes - Tasplan Protect 2 to default B insurance

From 1 July 2019, our insurance product and provider are changing. This notice provides information about the new insurance arrangements and the cost of cover.

We’re in a limited services period until 30 April 2021. More information.