TPD Claims
A Total and Permanent Disability lump-sum benefit through your superannuation. Most Australians hold this cover without knowing it exists.
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A Quarterly Publication from Thrive Claims
Payday Super Is Live, and Five Other Things Worth Knowing This Quarter
The biggest change to superannuation in a decade kicked in on 1 July, and it affects every working Australian. Here's what it means for you, plus the quarter's key moves in local and global finance.
A Word From Our Director
Tan Cao, Thrive Claims
It's been a genuinely busy quarter on the super front: payday super finally arrived, contribution caps moved, and the Shield and First Guardian collapses reminded all of us why it pays to know exactly where your super sits and what it's doing.
For our clients, none of this changes the fundamentals: if illness or injury has stopped you from working, you may be entitled to a TPD or income protection benefit through your super, and with contribution rules shifting, it's more important than ever to understand what cover you actually hold.
This issue breaks down the quarter's changes in plain language, the way we'd explain them across the kitchen table. As always, if any of it raises questions about your own situation, our team is a phone call away.
01
Local Finance
STORY 01
Payday Super Is Now Law
From 1 July 2026, employers must pay super contributions at the same time as wages, rather than quarterly. The change means your super starts compounding sooner, and makes underpayment far easier to spot on your payslip.
STORY 02
Contribution Caps Lifted
Concessional contribution caps have increased for the 2026–27 financial year, giving Australians more room to top up their super tax-effectively. Worth reviewing if you're salary sacrificing or approaching retirement.
STORY 03
Shield & First Guardian Fallout Continues
Regulators are still working through the collapse of the Shield and First Guardian master funds, with thousands of Australians' retirement savings affected. ASIC has signalled further enforcement action this year.
STORY 04
APRA Tightens Fund Reporting
APRA's expanded performance testing now covers more investment options, pushing underperforming funds to lift their game or merge. Check how your fund scored in the latest heatmap release.
Editor's Pick
The 12% Super Guarantee Era Begins
The Super Guarantee reached its final legislated rate of 12% this quarter, the culmination of a decade-long phase-up. For an average full-time worker, that's thousands of extra dollars flowing into super every year.
12%
Super Guarantee: Now In Full Effect
Every payday, 12 cents in every dollar you earn now goes straight into your super. Over a working life, that final step-up is worth tens of thousands of dollars in retirement.
ONE TO WATCH
Division 296 Tax Settings
The proposed additional tax on super balances above $3 million remains before Parliament. If passed, it would apply from a future financial year, one to keep on the radar if you're a high-balance member.
02
SMSF vs Member-Direct: Which Suits You?
Option A
Self-Managed Super Fund
Full control over investments, including direct property and shares. You carry the trustee responsibilities, compliance obligations and running costs yourself.
Best suited to larger balances and members who want hands-on control and have the time (and advice) to manage it properly.
Option B
Member-Direct Investment Option
Stay in your existing industry or retail fund but pick your own shares, ETFs and term deposits from an approved menu. The fund handles compliance and admin.
A middle path: more control than a default option, without the trustee burden of an SMSF.
| SMSF | Member-Direct | |
|---|---|---|
| Control | Full investment control | Choose from an approved menu |
| Compliance | You are the trustee | Fund handles it |
| Costs | Fixed annual costs, audit fees | Usually a small platform fee |
| Typical balance | Generally $200k+ to be cost-effective | Works at most balance levels |
| Insurance | Must arrange separately | Often retains fund group cover |
Note: This is general information only, not financial advice. Speak to a licensed adviser before making changes to your super structure.
03
What It Means For You
| Change | What Happened | What To Do |
|---|---|---|
| Payday super | Super now paid with each pay cycle | Check your payslip and fund statements match |
| 12% guarantee | SG rate reached its final legislated level | Confirm your employer is applying the new rate |
| Contribution caps | Caps indexed up for 2026–27 | Review salary sacrifice arrangements |
| Fund collapses | Shield & First Guardian under administration | Know where your super is invested |
| APRA heatmap | More options under performance testing | Check your fund's latest rating |
| Insurance in super | Cover terms vary widely between funds | Know what TPD and income protection you hold |
| Division 296 | Proposed tax on $3m+ balances | Watch this space if you're a high-balance member |
04
Global Finance
UNITED STATES
Fed Holds, Markets Breathe
The US Federal Reserve held rates steady this quarter as inflation continued to cool. Markets rallied on expectations of cuts later in the year, lifting global share indices, including the international equities inside most Australian super funds.
GLOBAL MARKETS
A Quarter of Two Halves
Global markets swung early in the quarter on trade policy headlines before recovering strongly. The Australian dollar firmed against the US dollar, trimming unhedged international returns slightly but supporting local purchasing power.
Disclaimer: Global market commentary is general information only and does not take your personal circumstances into account.
05
Saving Tips This Quarter
01
Check Your Payslip
With payday super now live, your super contribution should appear alongside every wage payment. If it doesn't, ask your employer.
02
Consolidate Old Funds
Multiple super accounts mean multiple sets of fees. Check for lost super through myGov before consolidating, and check your insurance first.
03
Review Your Insurance
Most super funds include default TPD and income protection cover. Know what you're paying for and whether it still fits your situation.
04
Use the New Caps
Higher contribution caps mean more room to salary sacrifice. Even small additional contributions compound significantly over time.
05
Nominate a Beneficiary
A binding death benefit nomination ensures your super goes where you intend. It takes minutes and most funds let you do it online.
06
Read Your Annual Statement
Your fund's annual statement lands soon. Check your balance, fees, insurance and investment option: it's the one document worth reading properly.
That's the quarter. Super is rarely the most exciting thing on your to-do list, but it's your money, your future, and often your insurance safety net too. A little attention now goes a long way.
If anything in this issue raised a question about your own cover, especially if illness or injury has kept you out of work, reach out. That's what we're here for.
The Thrive Claims Team
Not Sure What You're Entitled To?
If an injury or illness has stopped you from working, you may have a TPD or income protection claim sitting inside your super right now. Find out in minutes.
Where This Fits Your Claim
Payday super changes how quickly contributions land in your fund, and your fund is where total and permanent disability cover usually lives. If you cannot work because of illness or injury, our TPD claims team can check what your policy covers, and our superannuation claims service handles the insurer from first lodgement to final decision. If your income has stopped but you are not permanently disabled, income protection claims may pay a monthly benefit while you recover.
Many Australians hold more than one fund after changing jobs, which can mean more than one policy. Our multiple super funds claims service finds every account and every policy you may be able to claim on. We also help people whose capacity to work has been affected by physical injury or illness and by mental health conditions, which insurers often assess very differently.
If you receive the Disability Support Pension, our TPD claims for DSP recipients page explains how the two interact, though receiving the DSP does not automatically establish insurance eligibility. The same is true for people accessing the NDIS: our TPD claims for NDIS participants service works alongside your plan, and NDIS access alone does not decide a claim. If your condition followed a road accident, see TPD claims for motor accident claimants. For the full picture, start at our claims services hub.
Specialist Claim Support
Explore our services
Superannuation Claims
Insurance cover sitting inside your current or previous super fund. Your fund and insurer both need to be managed for a claim to succeed.
Learn moreIncome Protection Claims
An ongoing monthly benefit, separate from a TPD lump sum. It can provide financial stability while a larger claim is assessed.
Learn moreMultiple Super Funds Claims
Cover potentially held across more than one super fund from previous jobs. Checking only your current fund can mean an entitlement is left unclaimed.
Learn moreMental Health Claims
A TPD claim based on a psychological or psychiatric condition. Mental health conditions can form the basis of a claim where the relevant policy requirements are met.
Learn morePhysical Illness Claims
A TPD claim based on chronic illness or serious physical injury. A strong, well-evidenced claim needs more than a diagnosis alone.
Learn moreTPD for DSP Recipients
Receiving the Disability Support Pension does not stop you from claiming TPD through your super. We help gather the right evidence.
Learn moreTPD for NDIS Participants
NDIS funding and TPD insurance are separate entitlements. If you have super, you may also have a TPD policy you can claim.
Learn moreMotor Accident Claimants
A motor accident or compensation claim does not rule out a TPD claim through super. We can assess both paths together.
Learn moreAcross Australia