Folio JR - product disclosure statement

Member Information Booklet Combined Financial Services Guide and Product Disclosure Statement

Issued 1 November 2008 TWU Nominees Pty Ltd (ABN 67 002 835 412), Australian Financial Services Licence No 239163, is the trustee of TWUSUPER (ABN 77 343 563 307) and the issuer of interests in it. TransPersonal is a division of TWUSUPER.

Contents Why choose TransPersonal?

3

01 ABOUT TransPersonal

4

Joining TransPersonal

4

How we stay in touch with you

5

Get more from your super

6

How your account works

7

02 FEES AND OTHER COSTS

8

03 MAKING CONTRIBUTIONS

14

04 WITHDRAWING YOUR SUPER

18

05 OTHER INFORMATION

20

06 INVESTING YOUR SUPER

24

Investment performance

24

Investment basics

25

Your investment options

29

making your decision

31

07 INSURANCE TO SUIT YOU

34

Death and TPD Cover

36

Income protection cover

37

Transfer your existing cover

41

Other things you should know

43

08 WHO GETS YOUR SUPER IF YOU DIE?

46

09 TAX AND YOUR SUPER

48

10 FORMS

52

Product Disclosure Statement and Financial Services Guide

As a division of industry super fund TWUSUPER, we stand by our members by keeping fees low and not paying commissions to financial advisers.”

David Galbally QC Chairman

Inside back cover

About this booklet

Have you got the right booklet?

This booklet contains everything you need to know about TransPersonal to get the most from your membership.

TransPersonal is TWUSUPER’s division for the self-employed, or people who aren’t receiving employer contributions to their super.

It is an important document so please read it carefully before you complete the attached Membership application form.

We also have divisions for industry super, corporate super and superannuation pensions.

The Trustee TWU Nominees Pty Ltd (ABN 67 002 835 412) is the trustee of TWUSUPER (‘the Fund’) (ABN 77 343 563 307) and the issuer of this Product Disclosure Statement (‘PDS’).

TransPersonal is a division of TWUSUPER. Australian Financial Services Licence (‘AFSL’) 239163 SPIN: TWU002AU Throughout this PDS TWU Nominees Pty Ltd is referred to as the ‘Trustee’, ‘we’ or ‘us’.

Any reference to ‘financial adviser’ means a licensed or appropriately authorised financial adviser.

Please note This PDS may be updated or replaced at any time and you will be provided with the most up-to-date PDS on request, free of charge.

A free paper copy of this PDS can be obtained by calling the Customer Service Team on 1800 808 799 or by visiting www.twusuper.com.au. If you are printing an electronic copy of this PDS, you must print all pages, including the application forms.

2

“Welcome to TransPersonal.

If you aren’t sure you have the correct booklet, please contact us to obtain a copy of the relevant PDS. General information warning The information contained in this PDS is general information only and does not take into account your individual financial objectives, financial situation or needs. You should, before acting on the advice, consider the appropriateness of the advice having regard to your objectives, financial situation and needs.

We recommend that you seek professional advice if you need help in making any investment or financial decision.

Contact TransPersonal: TransPersonal Locked Bag 5094 Parramatta NSW 2124 Telephone: 1800 808 799 Email: twusfadmin@aas.com.au Web: www.twusuper.com.au

Why choose TransPersonal?

TransPersonal is a division of TWUSUPER, the industry super fund for transport and logistics.

We have been providing our members with simple, sound and strong super for over 25 years.

Competitive fees The Fund manages more than $2.2 billion in assets for over 136,000 members and 16,500 employers across Australia.

This means we can keep our fees low and provide competitive benefits like insurance to members.

Solid performance Over the last ten years, our Balanced investment option (our default investment option) has returned an average of 7.2% each year to members after fees and charges.* * Past performance is not an indicator of future performance.

Platinum rated super TransPersonal has again earned a Platinum rating from independent super ratings agency SuperRatings.

Platinum is the highest rating awarded, and is reserved for only the top 15% of super funds assessed

by SuperRatings in 2008.

Investment choice made easy

Your super fund for life

We offer a choice of three investment options to members with an account balance greater than $1,000. Mix and match these investment options for a customised investment strategy to suit your needs.

Run only to profit members

We provide industry, personal and corporate super as well as superannuation pensions for retirees.

This means you may be able to stay with us for life, even if you change jobs, move out of the transport industry or retire.

Flexible insurance options

As an industry super fund, TransPersonal doesn’t pay commissions to financial advisers.

The Fund is run by a Trustee and all profits after fees and expenses are returned to members. There are no dividends to pay.

A platinum rating means that TransPersonal offers best ‘value for money’ based on criteria covering:

TransPersonal members have access to flexible insurance cover at competitive premiums.

4 Insurance cover and costs 4 Governance 4 Administration services, including internet access

4 Investment performance 4 Variety of investment options

4 Advisory services.

4 Investment process 4 Fees and charges

Simple, sound and strong

Total members

Net assets

136,499

$2.2 billion

Total fund as at 30 September 2008

3

01 about transpersonal

Joining TransPersonal

4

How we stay in touch with you

5

Get more from your super

6

How your account works

7

It’s easy to join TransPersonal. Just follow these simple steps.

Go to page 34 to read more about the protection that TransPersonal’s insurance cover provides.

1

Get to know TransPersonal

Go to page 7 to read about how TransPersonal works and super in general.

2

Sort out your super

Rolling other super accounts into TransPersonal when you join could mean fewer fees and more super for you – the sooner you roll over, the more money you could save.

Go to page 20 to learn how to combine your super accounts into TransPersonal.

3

Do you want to put extra money into super?

A few extra dollars now could make a big difference to your super when you retire.

4

Making voluntary payments into your super also means you could be eligible for the Government co-contribution.

Go to page 14 to learn more about the benefits of topping up your super.

4

How would you like us to invest your super?

The way your super is invested can have a significant impact on your super account balance at retirement.

TransPersonal offers members with account balances over $1,000 a choice of three investment options.

Go to page 24 to learn more about making an investment choice.

5

Understand your insurance options

Insurance is one of the most important benefits that your super fund offers.

TransPersonal gives you access to flexible insurance options at competitive premiums for death, death and TPD cover, as well as income protection cover.

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

6

Who do you want your super paid to if you die?

It is in your interest to tell us who you’d like your super paid to if you die while you are a member of TransPersonal.

Go to page 46 to read more about nominating beneficiaries.

7

Provide your tax file number (TFN)

Providing your TFN when you join TransPersonal means that you can take full advantage of super’s tax concessions as well as avoid paying penalty tax on contributions.

Go to page 49 to read more about why we need your TFN.

8

Complete the Membership application

Complete the Membership application form in the back of this booklet.

ABOUT Transpersonal

01

How we stay in touch with you We will keep you informed

Information on request

Online super

As a TransPersonal member, you will be kept informed about the performance of the Fund and your TransPersonal account balance.

As well as sending you regular information and answering your questions, the Trustee will provide you with further information or documents free of charge on written request, including the Fund’s:

You can access up-to-date information about your super by visiting our website at www.twusuper.com.au

On an ongoing basis, you will receive: • An annual benefit statement in September each year, showing everything that happened to your account between 1 July and 30 June, including investment earnings, • A contribution statement in March each year that will show contributions, rollovers and fees for the six month period to 31 December, • An annual report detailing the performance of the Fund for each financial year, and

• trust deed, • investment policy statement, • latest audited accounts,

MemberAccess provides secure online access to your TransPersonal account.

Using MemberAccess you can: • view your current balance, • view your transaction history,

• privacy policy statement,

• view your statements online if you have registered for eStatements,

• risk management plan, and

• update some personal details,

• enquiries and complaints procedures.

• check your insurance cover, and

If you would like to see or receive copies of any of these documents, contact the Customer Service Team on 1800 222 071.

• check your investment option(s).

• Regular copies of the Fund’s member magazine ‘GearingUp’.

To register for MemberAccess, contact the Customer Service Team on 1800 222 071.

Keep in touch with us

If you would like regular updates about changes to super and the Fund, you can also subscribe to our regular email newsletter, ‘The Good Oil’.

Please let us know if your address or your personal details change.

TransPersonal Customer Service Team Locked Bag 5094 Parramatta NSW 2124

When you join TransPersonal, you will receive a welcome letter which sets out and confirms your membership details.

You will also receive a member card showing your member number and our contact details.

Telephone: 1800 222 071 Facsimile: 1300 889 807 Email: twusfadmin@aas.com.au Web: www.twusuper.com.au

Why you need to fill out the application form…

It is important that you take the time to complete the Membership application form in the back of this booklet. We need your personal details to provide you with the full benefits of membership in TransPersonal.

The Request to transfer whole balance of superannuation benefits between funds is also provided if you wish to roll your other super accounts into TransPersonal.

All completed forms should be returned to: TransPersonal Locked Bag 5094 Parramatta NSW 2124.

5

Get more from your super No matter how old you are or what kind of work you do, these essentials can help you get the most out of your super.

Why superannuation is important Retirement may seem a long way off and it may seem that you have little control over your superannuation.

However, there are very good reasons why you should not just think about superannuation, but actively take control of it.

Have you thought about how much money you will need for a comfortable retirement? If you have a figure in mind, have you thought about how you are going to get there?

For most people, superannuation will be their largest asset at retirement after their family home. This alone should be reason enough for you to act now and take control of your superannuation.

The Government Age Pension isn’t a lot of money, and it may not be enough to fund the lifestyle you want in retirement.

It’s important to recognise that superannuation is a long-term way of saving for your retirement, so you should consider the long term impact of any decisions you make about your super.

Withdrawals from super are restricted under law. You are only able to withdraw all or part of your super if you satisfy a condition of release. For more details, see the Withdrawing your super section (page 18).

Roll over and save Multiple super accounts mean multiple fees which can equal a lot less super.

With fewer fees and a larger, combined account balance your money has more earning power and can grow further, faster.

To combine your super accounts, complete the rollover form in this PDS (with proof of your identity) and send it to us with your Membership application.

We’ll do the rest.

Read more on page 20.

Make an investment choice The right investment strategy for your super can make a big difference to your account balance at retirement, so don’t just rely on TransPersonal’s default investment choice.

Any investment choice should be made considering your age, your life-stage and your appetite for risk.

Read more on page 24.

Understand your insurance options Having the right insurance cover for your needs is important, so it’s worth having a look at TransPersonal’s insurance options.

TransPersonal offers you death cover, death and TPD cover and income protection cover.

You can also transfer your existing insurance cover from your old super fund or life insurer into TransPersonal.

Read more on page 34.

Consider topping up your super The idea of tipping your extra cash into super probably isn’t that appealing, but the earlier you start, the faster your super will grow.

A voluntary contribution of just $2 a week can make a big difference to your wealth in retirement.

Read more on page 14.

6

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Go for the Government co-contribution If you earn under $60,342 a year and make a voluntary contribution into your super, the Government will boost your super with free money.

The Government could give you up to $1500 if you put $1000 or more of your own money into your super fund.

Conditions apply.

Claiming the co-contribution is easy.

Find out if you are eligible, make a voluntary contribution to your super and the Government will automatically add to your super account at the end of the financial year.

Read more on page 16.

Get the right advice Take a look at how your super is going.

Will you have enough money to live on when you retire? Is your super invested in the right way? Do you need to save a bit more?

If you don’t know the answer to these questions, you should take the time to talk to a professional adviser. They can develop a long term super strategy based on your personal finances to make your super work as hard as your other investments.

Read more on page 12.

Super still a struggle?

A member of our Client Relations Team can visit you at home or work to explain your options face to face and help you fill out forms. It’s a free service.

Turn to the back cover for their details.

ABOUT Transpersonal

01

How your account works Your TransPersonal account is an accumulation style of superannuation, where contributions made by you and/ or your employer are allocated to an account in your name.

We put your super to work by investing it in shares, property, cash and other types of assets, depending on whether your super is held in our Cash Plus, Balanced or Equity Plus investment options (see page 29).

Fees, charges, insurance premiums (if any) and taxes are deducted from your account – see page 8 for more details about fees and other charges.

PERSONAL CONTRIBUTIONS Amounts contributed by members, including rollovers

+

EMPLOYER CONTRIBUTIONS (if any) A member’s employer contributes money to their super account

-

CONTRIBUTIONS TAX INSURANCE PREMIUMS (IF ANY) CHARGES AND FEES

+

=

Your member account balance in Transpersonal

INVESTMENT EARNINGS (net of tax and expenses) according to the performance of chosen investment options(s) (may be positive or negative).

7

02 fees and other costs TransPersonal is part of an industry superannuation fund run only to profit members.

This means that any profits we make are reinvested back into members’ accounts. The Fund does not pay fees and commissions to financial advisers, ensuring that the fees paid from your TransPersonal account are used solely for the running of the Fund.

Did you know?

Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns.

For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce your super account balance from $100,000 to $80,000).

You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs.

You may be able to negotiate to pay lower contribution fees and management costs where applicable. Ask the fund or your financial adviser.

To find out more If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www.fido.asic.gov.au) has a superannuation calculator to help you check out different fee options.

This Consumer Advisory Warning above is a Government prescribed warning. The claim that ‘you may be able to negotiate to pay lower contribution fees and management costs where applicable’ is not relevant to TransPersonal.

8

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

The Fees and other costs table below shows the fees and other costs that you may be charged as a member of TransPersonal. These fees and costs may be deducted from your super

account balance, from returns on your investment or from the fund assets as a whole.

You should read all the information about fees and costs because it is important to understand their impact on your super.

Tax details are set out in the Tax and super section on page 48.

Insurance premiums are set out in the Insurance cover section on page 34.

02 FEES AND OTHER COSTS

Fees and other costs table

Fees and other costs from 1 November 2008 Type of fee or cost

Amount

How and when paid

Establishment fee (The fee to open your investment)

Nil

Not applicable

Contribution fee (The fee on each amount contributed to your investment — either by you or by your employer)

Nil

Not applicable

Withdrawal fee (The fee on each amount you take out of your investment)

$50 for each full or partial withdrawal or transfer out of the Fund

The fee is deducted from your account when your payment request or transfer is processed.

Termination fee (The fee to close your investment)

Nil

Not applicable

Fees when your money moves in or out of the fund

Management costs The fees and costs for managing your investment.1 The amount you pay for specific investment options is shown on page 10.

Member fee

$1.10 per week (or $57.20 per annum)

The member fee is calculated weekly and deducted monthly from your TransPersonal account balance.

Expense recovery fee

0.41% per annum of your member account balance

The expense recovery fee is deducted from the total gross assets of the Fund prior to the declaration of annual crediting rates.

An allowance for non-investment related fees (including member protection) is applied to members’ accounts when investment earnings are credited (or debited) to members’ accounts or at the time members exit the Fund or switch investment options.

Member benefit protection fee

0.02% per annum of your member account balance

The member benefit protection fee is deducted from the total gross assets of the Fund prior to the declaration of annual crediting rates.

Investment management fee

Cash Plus 0.13% per annum

Investment management fees directly payable by the Fund are generally calculated daily and deducted from the total gross assets of the relevant investment option. They are deducted before the earnings of each investment option are determined. In addition, some of these costs are deducted directly by the investment manager before the value of the underlying investments are determined.

Balanced 0.78% per annum Equity Plus 0.79% per annum

The investment management fees include performance-based fees of: 0.00% for Cash Plus 0.09% for Balanced 0.06% for Equity Plus based on investment manager out performance of 1%.

Service fees Investment switching fee (The fee for changing investment options) 1

Nil

Not applicable

Please refer to the Additional explanation of fees and costs section.

9

Additional explanation of fees and costs Revision or adjustment of fees All fees are current as at the date of this PDS and may be revised or adjusted by the Fund from time to time. We may also introduce new fees. If there is an increase in management costs, switching fees or any other fees that affect your TransPersonal account, the Trustee must notify you 30 days in advance of the change.

Expense recovery fees This includes expenses such as administration charges, custodian fees, legal fees, office expenses, consulting fees, marketing expenses and other miscellaneous Fund expenses.

Investment management fees This fee, which forms part of the management costs, will change throughout the year due to timing, cash flow, changes in the investment manager line up, changes in asset allocation and other factors.

Investment-related expenses (such as investment manager fees, brokerage, Government duties, taxes and performance fees) are deducted from the investment returns of each investment option before the returns of the Fund’s investment options are determined.

Performance fees Where an investment manager charges a performance fee, an estimate of that performance fee will be included in the management costs of the relevant investment option (as set out in the Fees and other costs table on page 9) and be passed on to members by way of an adjustment to the investment valuation which will reduce the investment performance of the relevant investment option.

Investment managers that charge a performance fee only apply those fees when performance is greater than an agreed target. Accordingly, performance fees only arise when higher returns, relative to a specified target for a particular manager, are achieved.

10

As the agreed performance targets may vary between investment managers, it is not possible to provide a precise figure for the performance fees which will be applicable to the relevant investment options.

investment return for each investment option as shown on the previous page.

Estimated transaction costs for each investment option are set out below.

Member account balances are net of transaction costs.

The management costs for the Balanced investment option and the Equity Plus investment option incorporate an estimated performance fee of 0.09% p.a. and 0.06% p.a. respectively. This estimated performance fee is calculated based on the following:

Withdrawal fee

• the strategic asset allocation of the Fund as at 30 June 2008;

TransPersonal does not charge a withdrawal fee if a member wishes to transfer between divisions of the Fund.

• out-performance of 1% by the investment managers determined based on indicative annualised calculations using fee information provided by underlying investment managers for periods up to approximately 30 June 2008.

The use of this estimate is not an indication or guarantee of future performance. The actual performance fee and therefore the management costs will vary depending on the Fund’s actual return. A performance fee will not always be payable.

Transactional and operational costs Currently, members incur no direct cost when making contributions or investment switches except for a $50 fee for every payment by cheque or bank transfer in respect of a withdrawal (including any partial withdrawals) to cover administrative costs.

When the Fund purchases or sells assets, there are investment related expenses incurred on the purchase or sale of the underlying assets.

These expenses are reflected in the

Where a TransPersonal member makes a full or partial withdrawal from their account or transfers all or part of their super into another Fund, the member will incur a $50 fee for each withdrawal to cover administrative costs.

Management costs Management costs are determined by indicative annualised calculations using historical information for periods up to approximately 30 June 2008 and therefore only incorporate investment management fees for those investments that were funded for that period.

The management costs comprise an expense recovery fee which is an estimate of the out-of-pocket expenses incurred by the Fund. They also comprise the member benefit protection cost, which is based on the last financial year and has been allocated across all investment options, and the investment fee described above. Please note this figure can vary significantly from year to year. If actual expenses incurred are greater than the estimate, then the crediting rates for members would decrease. If the actual expenses incurred are less than the estimate, then the crediting rates for members would increase.

Estimated maximum transaction costs Investment Option

Transaction costs from purchase of underlying assets

Transaction costs from sale of underlying asset

Total

Cash Plus Option

0.00%

0.00%

0.00%

Balanced Option

0.09%

0.09%

0.18%

Equity Plus Option

0.12%

0.12%

0.24%

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Superannuation advice fee

Insurance premiums

If any eligible person (as defined by the legislation) makes a request for the valuation of a member’s TransPersonal account, a charge of $50 will apply. The fee is charged to the person requesting the valuation and is payable to the Fund by cheque.

The fee agreed between you and the Fund’s advice provider Money Solutions (see page 12) for personal advice if you elect to have that advice fee paid out of your TransPersonal account balance.

TransPersonal offers members optional insurance cover.

Family Law account splitting fee If a member’s TransPersonal account must be split to affect a Family Law splitting order or arrangement, a charge of $50 will apply. The fee will be split evenly between the TransPersonal member’s account and the former spouse’s split amount.

Contribution splitting fee If a member ‘splits’ or ‘transfers’ certain contributions to their spouse’s superannuation account, a charge of $55 will apply if the spouse’s account is not with TransPersonal (or one of TWUSUPER’s divisions). If the spouse’s account is held with TransPersonal (or one of TWUSUPER’s divisions), no fee applies for contribution splitting.

Goods and Services Tax (GST) The GST disclosures in this PDS are of a general nature only.

GST will not be payable on investments purchased in the Fund.

Fees and costs payable in respect of the management of the Fund are subject to GST, as detailed below.

GST will apply to all fees charged to the Fund. Generally, the Fund cannot claim full input tax credits in respect of these fees, but may be entitled to reduced input tax credits (currently equal to 75% of the GST paid) in respect of part of these fees. All fees and costs shown in the Fees and other costs table are inclusive of GST and any applicable reduced input tax credits.

Premiums for TransPersonal’s death, death and TPD cover and income protection cover are calculated depending on your age, your job category, the length of your waiting period (for income protection cover only) and the amount and type of cover you require.

02 FEES AND OTHER COSTS

Family Law valuation fee

Please refer to page 34 for more information about TransPersonal’s insurance options.

The cost of any insurance cover (premiums) will be deducted monthly in advance from your TransPersonal account.

Insurance premiums (if any) are charged in addition to the fees shown in the Fees and other costs table (page 9).

Example of fees and costs for the Balanced investment option Fees from 1 November 2008 This table gives an example of how the fees and costs of TransPersonal’s Balanced investment option can affect your superannuation investment over a 1 year period. You should use this table to compare this product with other superannuation products.

EXAMPLE – the Balanced investment option

Balance of $50,000 with total contributions of $5,000 during year

Contribution Fees

Nil

For every $5,000 you put in, you will be charged $0.

Plus Management Costs

1.12%* per annum + $57.20 p.a

And, for every $50,000 you have in the fund, you will be charged $560 each year plus $57.20 in management costs regardless of your balance.

or ($1.10 per week) EQUALS Cost of fund

If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of $617.20** What it costs you will depend on the investment option you choose.

* This percentage is made up of 0.41% per annum expense recovery fee, 0.02% per annum member benefit protection fee and 0.69% per annum indirect cost ratio (ICR). The ICR, an annual fee, is a percentage of the Fund’s investment management costs and excludes estimated performance fees of 0.09% per annum. The ICR varies for each investment option and is deducted from the investment earnings of the Fund before crediting rates are determined. It is not deducted from a member’s account. These fees change each year and vary for each investment option. ** Additional fees may apply: If you make a withdrawal or leave the Fund, you will also be charged a withdrawal fee of $50 for every payout (including any partial or full payout). For illustrative purposes, the above example assumes that management costs were calculated on a year-end balance of $50,000, which includes a contribution of $5,000 made at the start of the year.

11

Get the right financial advice about your super The right advice about super can help you get your super on track.

The sooner you start, the more you have to gain.

TransPersonal and Money Solutions We have teamed up with Money Solutions* (AFSL 258145) to provide TransPersonal members with access to straightforward and reliable advice about super.

Money Solutions’ Money Coaches offer advice over the phone or in person. You don’t have to commit to a full financial plan and they will always discuss their fees with you upfront.

No hidden fees With Money Solutions there are no hidden fees, payments or trail commissions. You simply get reliable, professional advice about your finances for a flat fee.

Free advice to get you started We know how important it is for you to seek professional advice about your super. That’s why we’ll get you started by paying for your first single-issue superannuation advice phone call to Money Solutions.

Fees for further advice about your superannuation can be deducted from your TransPersonal account, so you aren’t out of pocket.

Talk to a Money Solutions Money Coach today by calling 1800 046 144, or go to www.moneysolutions.com.au for more information.

*The Trustee is not responsible for and does not accept liability for the products or services or actions of Money Solutions AFSL 258145. You should use your own judgment before taking up any product or services offered by Money Solutions.

12

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

FEES AND OTHER COSTS

02

13

03 MAKING CONTRIBUTIONS Making extra contributions is the fastest way to build up your super.

What you contribute

Contribution terms

If you are aged between 65 - 74, you must have worked at least 40 hours during any period of 30 consecutive days in the year to which the contributions relate to be eligible to make contributions into TransPersonal.

Concessional contributions Superannuation Guarantee, salary sacrifice, other employer contributions and self employed deductible contributions are known as ‘concessional contributions’. In most cases, they attract a discounted 15% tax rate.

Non-concessional contributions After-tax contributions, personal or undeducted contributions (including spouse contributions) are known as ‘non-concessional contributions’, provided they fall within the annual limits shown on page 48. These contributions are not taxed as you have already paid income tax on these amounts.

Tax on contributions Refer to the Tax and your super section on page 48 for information about how super contributions are taxed.

14

Anyone under age 65 can put money into TransPersonal without providing evidence of employment.

This includes if you are a self-employed person or an owner-driver who trades as a partnership, sole trader or family trust.

If you have your own company which is contributing super on your behalf, you may qualify as a standard employersponsored member of TWUSUPER. In this case, please call the Customer Service Team on 1800 222 071 for the correct forms.

There is no minimum amount for contributions into TransPersonal.

However, there are limits on the level of contributions that are concessionally taxed, and some contributions cannot be accepted until we receive your Tax File Number (see the Tax & your super section on page 48).

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

You can stop, start or change how much you put into TransPersonal as often as you like.

You can put money into TransPersonal in several ways – the choice is yours.

You can: • send a cheque and a Voluntary contribution payment advice to TransPersonal, • have your employer deduct contributions from your pay • make payments via Bpay® – see the Voluntary contributions form, • arrange a regular monthly direct debit from your bank account.

In order to meet payment deadlines for tax and Superannuation Guarantee (‘SG’) contributions, you need to allow sufficient time for your contribution to be processed by the relevant system and credited to your account.

Processing of payments is not immediate, and the time taken can depend on your financial institution and your method of payment.

* Registered to BPAY Pty Ltd ABN 69 079 137 518.

If you are employed, you can also arrange for your employer to contribute Superannuation Guarantee (‘SG’) contributions into TransPersonal on your behalf. Read on to find out more about SG. All your employer needs to do is to provide us with sufficient details to identify and allocate the contribution.

This can be done by completing and returning an Employer contribution return. Call us on 1800 222 071 for more information.

Superannuation Guarantee Under Federal Government legislation all employees must be provided with a minimum level of superannuation cover.

This minimum level is known as the Superannuation Guarantee (‘SG’).

Employers are currently required to provide superannuation equivalent to 9% of an employee’s OTE. OTE for SG purposes is defined in legislation — it may be different to your salary. Contact your employer if you would like to know more about this. There is also a maximum earnings limit ($38,180 per quarter for 2008/09) for calculating SG. There are some circumstances where an employer is not required to meet the minimum requirements for SG. These include: • you are under 18 and working 30 hours or less a week, • you earn less than $450 a month, • on the part of your earnings above the maximum limit (above), • you are aged 70 or over, • in certain circumstances if you are working overseas, and • in certain circumstances if you have moved to Australia from overseas.

What you put in — if you want to You can put extra money into super, over and above the contributions your employer makes, or amounts that you normally contribute. Payments into super made by you are known as voluntary contributions.

There is no minimum voluntary contribution amount; however there are maximum limits on the concessional taxation of voluntary contributions.

Generally, we cannot accept voluntary contributions unless we receive your Tax File Number (see the Tax and your super section for more details on page 48).

Voluntary contributions you make into your super will be treated as ‘preserved’, which means you cannot access the money until you reach a condition of release.

See the Withdrawing your super section on page 18 for more details about preservation.

If you are aged 65 or over, there are other limits that apply to voluntary contributions. See Contributions after age 65 on page 16.

You can make personal (after-tax) contributions by: • directly deducting regular amounts from your salary/wages, • making payments via BPAY*; or • establishing direct debits from your bank or financial institution account.

If you make personal (after-tax) contributions you may be eligible for the Government co-contribution (see page 16).

With voluntary contributions, you can decide how much extra you would like to contribute, either as a fixed dollar amount or as a percentage of your pay (e.g. 2% or 5% of your pay). You can change the rate of your personal contributions or stop contributing whenever you like. * Registered to BPAY Pty Ltd ABN 69 079 137 518.

Salary sacrificing into super Salary sacrifice can be a smart way to boost your super while reducing your income tax.

Salary sacrifice is where, if you are employed, you arrange with your employer to have additional contributions to your super taken out of your pre-tax salary, rather than making personal contributions from your after-tax salary. This can reduce your taxable income and the amount of income tax you pay.

Your salary-sacrificed contributions are taxed at super’s concessional tax rate of 15% (plus Medicare levy), which in most cases will be lower than your personal income tax rate.

Because salary sacrificing into super reduces your before-tax pay, there are some important things for you to consider before you enter into a salary sacrifice arrangement.

SALARY SACRIFICE AND SG Salary sacrifice may lower the contributions that your employer is required to make on your behalf (like Superannuation Guarantee payments).

This is because your SG payments will be calculated on a reduced pre-tax income.

03 Making contributions

What your employer contributes

This may not be the case if your employer agrees to make contributions at the pre-salary sacrifice amount (through your employment contract) or an award or industrial agreement requires this.

You should confirm that your employer will continue to make SG contributions for you based on your pre-salary sacrifice earnings and at the rate that applies before you salary sacrifice.

SALARY SACRIFICE AND OTHER BENEFITS Other benefits that are linked to the amount of your salary (such as annual and long-service leave entitlements may be reduced as a result of a salary sacrifice arrangement.

SALARY SACRIFICE AND THE GOVERNMENT CO-CONTRIBUTION Prior to 1 July 2009, eligibility for the co-contribution is based on your post salary-sacrificed income (your assessable income). From 1 July 2009, any amount you have salary sacrificed in that financial year will be assessed as income for all relevant tax and social security programs, including the Government co-contribution.

As a result of this change your eligibility for the Government co-contribution may be affected.

Call the Customer Service Team on 1800 222 071 for more information about salary sacrificing into super or to request a salary sacrifice brochure.

We recommend that you seek professional advice if you are considering salary sacrificing into super.

15

Claiming the Government co-contribution If you make personal (after-tax) contributions into your super account you may be eligible for a Government co-contribution of up to $1,500 each year.

The co-contribution you receive depends on your income and the value of the voluntary contributions you have made in a financial year.

The maximum amount of co-contribution for a financial year is $1,500 per $1,000 contributed and is available to people whose income is $30,342 (for 2008/09) or less. The lower income threshold is indexed at 1 July each year.

The maximum co-contribution phases out by 5 cents for each dollar of additional income and cuts out completely for incomes of $60,342 or more. You also need to meet other conditions to be eligible for the co-contribution – these are set out below.

For the purposes of the co-contribution, income includes your assessable income plus your reportable fringe benefits.

Note that from 1 July 2009, salary sacrificed contributions will be included when determining your total income and therefore your eligibility for the co-contribution may change.

The Government may review the co-contribution rate and threshold at any time. Refer to www.ato.gov.au for up-todate information.

Eligibility for the Government co-contribution To be eligible for the Government co-contribution, you need to meet the following conditions: • The co-contribution is only available to people who earn at least 10% of their income as an employee or from running a business or a combination of both.

• You must also be under age 71 at the end of the relevant financial year to be eligible for the co-contribution. It is not available to most temporary residents (i.e. you must be an Australian citizen or permanent resident for that financial year).

• You need to make a personal aftertax contribution to your super account before 30 June.

16

Tax deductible contributions (e.g. contributions made by an employer or a self-employed person and for which a tax deduction is claimed) don’t count toward the co-contribution.

Claiming the co-contribution – you do not need to do anything The Trustee must give the Australian Tax Office (ATO) information about your contributions and those made by your employer each year for the year ending 30 June. Using this information and information in your tax return, the ATO will work out if you are entitled to receive a co-contribution. Any co-contribution payable will then be sent directly to TransPersonal or another fund to which you belong (if you close your TransPersonal account).

If your co-contribution has been overpaid because you have made a mistake on your tax return or your tax return needs to be adjusted, we will adjust your benefits to reflect this. If you have taken the overpayment in cash, you may need to repay the amount to the ATO.

Spouse contributions You can put money into TransPersonal for your spouse, if your spouse is under age 65 (and in certain circumstances, between age 65 and 70).

If you are making contributions for your spouse, you may be able to claim a tax rebate for those contributions if their income is below $13,800 pa.

See page 55 or contact the Customer Service Team on 1800 222 071 for more information.

Contribution splitting Super legislation allows eligible super fund members to split their concessional contributions with their spouse.

Contribution splitting allows members to transfer contributions to an account in the name of an eligible spouse in a complying fund. Conditions apply as to what contributions can be split and when a member can split contributions.

Contact the Customer Service Team on 1800 222 071 and ask for a copy of our Contributions splitting brochure.

Contributions after age 65 Employer contributions after age 65 If you are still working after reaching age 65, generally employer contributions will continue to be made to your super account. However the law may not allow such contributions in certain circumstances.

From age 65 onwards, TransPersonal can accept mandated employer contributions on your behalf. ‘Mandated’ employer contributions are SG and/or other contributions required under an award or certified industrial agreement.

As there are currently no SG requirements once you have reached age 70, mandated employer contributions from age 70 will only be those that may be required under an award or certified industrial agreement.

Employers can make voluntary contributions on your behalf until age 75* (see the Contributions by age group table on page 17).

The Government co-contribution If you contribute: $1,000

And your income is

$800

$500

$200

Your co-contribution will be:

$30,342 or less

$1,500

$1,200

$750

$300

$34,342 p.a.

$1,300

$1,200

$750

$300

$38,342 p.a.

$1,100

$1,100

$750

$300

$42,342 p.a.

$900

$900

$750

$300

$46,342 p.a.

$700

$700

$700

$300

$50,342 p.a.

$500

$500

$500

$300

$54,342 p.a.

$300

$300

$300

$300

$60,342 or more

$0

$0

$0

$0

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Contributions you make after age 65 Between ages 65 and 74* (inclusive), TransPersonal can only accept personal after-tax contributions made by you

if you have worked at least 40 hours during any period of 30 consecutive days in the financial year to which the contributions relate.

Between ages 65 and 69 (inclusive), contributions for you by your spouse and or other people can be made if you have worked at least 40 hours during any period of 30 consecutive days in the financial year.

Once you reach age 75 , TransPersonal cannot accept personal contributions. ^

Contributions by age group The table below summarises the contributions that can be made according to your age.

Age group

SG

Award/ certified agreement

Voluntary employer

Voluntary Member

Under 65

Yes

Yes

Yes

Yes

65-69

Yes

Yes

Yes, if worked min 40 hrs in consecutive 30 day period in the financial year

Yes, if worked min 40 hrs in consecutive 30 day period in the financial year

70-74*

No

Yes

Yes, if worked min 40 hrs in consecutive 30 day period in the financial year

Yes, if worked min 40 hrs in consecutive 30 day period in the financial year

75 and over

No

Yes

No

No

When the Trustee cannot accept contributions There are some circumstances under which TransPersonal is unable to accept contributions made for or by you: • non-concessional contributions (and self employed deductible contributions), if you have not provided your Tax File Number – see the Tax and your super section on page 48 for details; • if an individual contribution is greater than the specified limit allowed see the Tax and your super section on page 48 for details;

03 Making contributions

TransPersonal can only accept other employer (including salary sacrifice) contributions for you up to age 75* if you have worked at least 40 hours during any period of 30 consecutive days in the financial year to which the contributions relate. These contributions cannot be made after age 75*.

• if you have not met the work tests set out in the Contributions after age 65 section above.

Any contribution received when these conditions have not been met will be returned to you or the person, or organisation (including where applicable your employer), who made the contribution. The amount returned will not be added to your super account balance.

*It should be noted that your employer’s SG obligations cease when you turn 70. However, provided you meet the work test, your employer can continue to make contributions on your behalf as ‘voluntary employer contributions’. ^The exact date to which these contributions may continue is 28 days after the month in which your 75th birthday occurs.

17

04 Withdrawing your super Superannuation legislation is designed to make sure that your super money is used only for retirement.

When you can withdraw your super Your super benefit may be made up of: • an ‘unrestricted non-preserved’ component, • a ‘restricted non-preserved’ component, and • a ‘preserved’ component.

Unrestricted nonpreserved component The ‘unrestricted non-preserved’ amount (if any) is the part of your super benefit that can be taken in cash at any time. It is usually made up of rollovers from other super funds, or employer eligible termination payments rolled over before 1 July 2004.

Your account statement will show if you have any ‘unrestricted non-preserved’ amounts.

If you choose to withdraw some or all of an ‘unrestricted non-preserved’ component before you reach your preservation age, then tax may be deducted. Call the Customer Service Team on 1800 222 071 for details.

Restricted non-preserved component ‘Restricted non-preserved’ amounts are payable if you meet a condition of release (see below) or when you cease employment with the contributing employer, in which case the component becomes ‘unrestricted non-preserved’.

Your account statement will show if you have any restricted non-preserved amounts.

18

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Preserved component ‘Preserved’ amounts of over $200 are only accessible in cash if you meet one of the conditions of release permitted under superannuation law, as follows: • you have reached your ‘preservation age’ (see page 19 for details) and do not intend to work 10 hours or more per week ever again • you have ceased employment with an employer since you turned age 60 • you are aged 65 or more • you die • you are the holder of an expired or cancelled temporary resident visa and you leave Australia permanently (Note that this condition of release is available to certain visa categories only and not available to you if you are a New Zealand citizen. Contact the Customer Service Team on 1800 222 071 for more information) • the Trustee is satisfied that you are permanently incapacitated • you have compassionate grounds for applying and the Australian Prudential Regulation Authority agrees

Preservation age Your ‘preservation age’ (i.e. the age at which your preserved super can be paid to you in cash) depends on your date of birth, as shown in the following table:

Date of Birth

Preservation age

Before 1 July 1960

55

Between 1 July 1960 and 30 June 1961

56

Between 1 July 1961 and 30 June 1962

57

Between 1 July 1962 and 30 June 1963

58

Between 1 July 1963 and 30 June 1964

59

After 30 June 1964

60

Accessing your super when you retire When you retire, you have a number of options when it comes to accessing your super. You can: • withdraw your super as a cash lump sum • leave your super as is until you need it • convert your super into tax-effective income through a superannuation pension • take some of your super in cash and some as income through a superannuation pension.

For more information about superannuation pensions like TransPension visit www.transpension.com.au

Seek professional advice

The law requires that preserved super stays invested in an approved superannuation arrangement such as TransPersonal.

We strongly recommend that you seek professional advice prior to making a decision to withdraw your super.

Consider a superannuation pension Superannuation pensions allow you to convert your super savings into retirement income once you reach preservation age (above) or meet a condition of release (see page 18).

Pensions may be an attractive alternative to taking super in cash because as well as providing access to your super as regular income, they offer tax benefits and the opportunity to grow your super through further investment. Once you turn 60 you pay zero tax on pension payments.

An account based pension (ABP) allows you to choose how much income you want to receive (within set limits) and how often you wish to receive it. You generally get to choose how your money is invested while it is held in the pension.

A Transition to Retirement Accountbased Pension (TRAP) gives you the option of accessing some or all of your super as income while you continue working full-time or part-time, and while still accruing benefits in your ‘non-pension’ super account.

TransPension, our pension division, offers an account-based pension (ABP) and a transition to retirement account-based pension (TRAP).

04 TAKING MONEY OUT

• you suffer severe financial hardship as specified under superannuation law and permitted under the Fund’s trust deed.

For further information about superannuation pensions or TransPension, please call the Customer Service Team on 1800 222 071 or visit www.transpension.com.au.

19

05 other information Other things you should know about TransPersonal.

Roll your super together If you have had other jobs in the past, you probably have more than one super account.

Multiple super accounts mean multiple fees, which can equal less super. Having more than one super account also makes it more difficult to manage your super paperwork.

Roll over today by completing and returning the rollover form attached to this booklet with your Membership application.

You can also combine your super online using our rollover tool at www.twusuper.com.au.

Changing jobs Moving to a new employer in the transport industry TransPersonal is a division of TWUSUPER. Because TWUSUPER is the nominated superannuation fund for transport workers under the Transport Workers’ (Superannuation) Consolidated Award 1993, when you move to another job in the

20

transport industry you can keep your TransPersonal account.

Moving to a new employer’s super fund

This is handy because, in most cases, your new employer would be paying into the Fund anyway. If you are commencing employment as an employee within the transport industry and will receive SG contributions from your employer, you may be eligible to transfer your TransPersonal account into our employer-sponsored division, TWUSUPER.

If you want your employer contributions paid to your new employer’s default fund you can still keep your TransPersonal account. Remember that multiple super accounts can mean multiple fees. If you wish to close your super account and transfer your super into your new employer’s fund, please contact our Customer Service Team on 1800 222 071 and ask for an Application for withdrawal of super form to be sent to you.

TWUSUPER members receive additional benefits like basic insurance cover on joining the Fund, without having to provide evidence of health.

To read more about the benefits of our employer-sponsored divisions, visit www.twusuper.com.au or call us on 1800 222 071.

Moving to a new employer outside the transport industry If you move to another job outside the transport industry, you do not have to take your money out of the Fund.

Contact the Customer Service Team on 1800 222 071 for further details or download our Changing Jobs brochure from www.twusuper.com.au.

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

You should complete as much information on the form as possible, and include any additional identification documentation that may be required, certified as a true copy. This will help prevent any processing delays.

You can keep your TransPersonal account when you change jobs, even if you leave the transport and logistics industry.

If you are employed and your employer offers Choice of fund, it means that you are able to choose which super fund your employer pays your superannuation contributions to.

Choice also means that, in most cases, you can take your super fund with you when you change jobs and keep your super in one place.

Choice does not need to be offered where contributions to a particular fund are being made under the terms of: • a State Award or State registered industrial agreement, • an Australian Workplace Agreement, • a certified agreement under the Workplace Relations Act 1996, • a certified agreement under the Industrial Relations Act 1988, • an agreement that was in place under the Employee Relations Act 1992 (Victoria) and which continues to operate under the Workplace Relations Act, or • the Superannuation (Productivity Benefit) Act 1988.

In other words, if you are employed under one of the above, Choice does not apply to you.

There are some further limited exemptions from Choice of fund for defined benefit fund members, and certain Government sector funds are also exempt. Contributions in excess of SG contributions do not come under the Choice of fund requirements.

If you roll your super over to another fund and cease to be a member with TransPersonal, your insurance cover with the TransPersonal will cease, as well as any other benefits of TransPersonal membership.

Accordingly, you should seek professional advice before making any decision to change your superannuation arrangements.

Portability Portability rules allow members to move their superannuation money between funds (a ‘portability transfer’).

If your employer continues to make contributions to TransPersonal, you can still transfer your benefits to another fund, but you must maintain a minimum account balance of $5,000 in TransPersonal.

Do you have money in a UK pension fund?

If you have money in a UK pension fund, you may be able to transfer it to TransPersonal. The Fund is a ‘qualifying recognised overseas pension scheme’ (QROPS). This means that you can consolidate your UK super into your TransPersonal account.

If you would like to roll over your UK pension account into TransPersonal, contact the Customer Service Team on 1800 222 071 or visit www.twusuper.com.au.

The Customer Service Team can arrange for a Client Relations Officer to visit your home or work to assist you with the paperwork. See the back cover for their details.

How does Award superannuation work?

Lost Super — Eligible Rollover Fund

If you are employed under a Federal award, choice of fund also applies to you. If you do not make a choice, your employer is bound to pay contributions into the fund named in the award as the default fund. If you are an existing member of TransPersonal and commence employment under a Federal award, you will have to transfer into our industry super division (TWUSUPER) because TransPersonal does not meet the minimum insurance requirement for a default fund under Choice of Fund legislation.

Superannuation regulations permit funds to transfer members’ benefits to a nominated Eligible Rollover Fund (ERF) in circumstances determined by the Trustee.

For more information you can visit www.twusuper.com.au.

The Trustee has nominated Australia’s Unclaimed Super Fund (‘AUSfund’) RSE L0000413 as the Fund’s ERF. The Trustee may transfer a TransPersonal member’s benefit to AUSfund where the member’s account balance is less than $1,000 and no contributions have been received for at least 15 months.

We will write to your last known address to advise you that it intends to transfer your super to AUSfund and to provide

you with a reasonable opportunity to nominate another superannuation fund (or Eligible Public Sector Superannuation Scheme or Retirement Savings Account) to receive the transfer of your super, rather than AUSfund.

If you do not advise TransPersonal what you would like done with your account, the Trustee will transfer your benefit to AUSfund. No exit fee will be charged on the transfer of your super to AUSfund. Once your super benefit has been transferred to AUSfund, you become a member of that fund, will be subject to its governing rules and cease to be a member of TransPersonal. You will no longer have any rights under TransPersonal and your insurance cover (if any) will terminate.

If TransPersonal can provide a member’s current contact details, AUSfund will send them a copy of its PDS and annual report. You can also contact AUSfund to request a copy.

As a member of AUSfund, you are treated as a ‘protected member’ for the purposes of superannuation law.

Set out below is a summary of some of the more significant features of AUSfund current at the date of this PDS. • AUSfund accounts of $50 or more attract an administration levy of $10 per year or part-year. Lower balances are not subject to the levy and do not earn interest. However, all accounts are protected from erosion by the levy so that the levy cannot exceed the interest credited to each account.

05 OTHER INFORMATION

Choice of fund legislation

• AUSfund may have a different investment strategy to TransPersonal and member investment choice is not available. Details can be found in AUSfund’s PDS. • AUSfund does not offer any insurance cover.

• AUSfund conducts cross-fund matching services (where your information is used to search for an active account in your name in another superannuation fund) and will transfer your AUSfund benefits to that fund if an active account in your name is found. AUSfund also attempts to locate superannuation contributions paid to the Australian Tax Office on a member’s behalf.

• If your account is transferred to AUSfund, your personal information will be used or disclosed by AUSfund to administer your

21

benefits, including establishing your account and managing your super, processing contributions, paying benefits, providing you with membership benefits and services and contacting you. AUSfund uses external service providers such as Superpartners Pty Limited and Baycorp Advantage Limited to provide services and other benefits to its members under the strictest confidence. AUSfund will not use or disclose your personal information for any other purpose without your consent, except where required or authorised by law.

You may request access to, or correction of, any personal information held by AUSfund by writing to AUSfund’s Privacy Officer at AUSfund Administration.

AUSfund can be contacted as follows: AUSfund Administration PO Box 2468, Kent Town SA 5071 Phone: 1300 361 798 Fax: 1300 366 233 Email admin@ausfund.net.au Web: www.unclaimedsuper.com.au

Enquiries and complaints Most enquiries can be answered over the telephone by contacting the Customer Service Team on 1800 222 071 but, depending on the type of issue involved, you may be asked to put your query in writing.

If there is a complaint about the services we provide, you should contact the Fund’s Complaints Officer by: • calling 1800 222 071 and making the complaint verbally to the Complaints Officer, or • putting the complaint in writing, with ‘Notice of Complaint’ on the envelope and addressing it to: The Complaints Officer TransPersonal Locked Bag 5094 Parramatta NSW 2124 The Trustee prefers written complaints, marked as such, as it helps to better deal with the complaint. If you wish to make a verbal complaint, it must be made to the Complaints Officer on 1800 222 071.

By law, we are required to have in place arrangements to properly consider and deal with any complaints within 90 days.

22

If you are not satisfied with the outcome, or the matter cannot be resolved, you may be able to refer the matter to the Superannuation Complaints Tribunal (‘SCT’). The SCT is an independent Government body which was set up to help resolve disputes between super funds and their members.

Complaints must be lodged with the SCT within certain time limits.

The SCT will not deal with a matter until it is satisfied that the complaint: • has already been made to the Fund through its complaints procedures, • is not subject to litigation in court, • does not relate to the general management of the Fund, and • is not about the distribution of death benefits, where the beneficiaries have been notified of how the money is to be distributed but have not objected within 28 days of being notified.

For more information, you can contact the SCT on 1300 780 808 or in writing to: Superannuation Complaints Tribunal Locked Bag 3060 Melbourne VIC 3001.

If your complaint relates to a breach of privacy, you can contact the Privacy Commissioner on 1300 363 992.

Monitoring The Trustee may, at its discretion, monitor or record enquiries or dealings made by telephone. This is done for reasons of accuracy, security and service.

Protecting your privacy Your personal information that TransPersonal collects is used to: • process your application and requests; • administer your TransPersonal account and provide you with benefit options; • correspond with you in relation to your super account, benefits and options; • pay your benefits under the Fund; and • conduct research about how to improve TransPersonal’s services and products.

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

The Fund may arrange to provide other services to you. These services may include information on other products.

The Fund may arrange for a financial planner to contact you to offer to assist you with your financial planning in relation to your superannuation.

The Fund may arrange for a service provider or the Australian Tax Office (ATO) to cross-match your personal details with other superannuation funds to help locate any other superannuation accounts in your name.

If you choose not to give us your personal information, or provide us with incomplete or inaccurate personal information, we may not be able to provide you with all the benefits of TransPersonal and may not be able to process your claim or pay the benefit.

Unless required or authorised by law, we will only provide your personal information to authorised advisers, service providers or government agencies that use the information to administer your account and provide services to you or to the Trustee relating to your TransPersonal account.

You are able to gain access to your personal information or get a copy of the Fund’s Privacy Policy by contacting the Customer Service Team on 1800 222 071.

In doing so, you can correct any personal information that may be incorrect.

When we will ask you for ID In order to comply with legislation (the Anti-Money Laundering and CounterTerrorism Financing Act 2006) aimed at the prevention of money laundering and counter terrorism financing, the Trustee requires appropriate detailed identification and verification prior to payment of benefits to members. If you intend to cash out all or part of your super or draw out your benefits by way of a pension, you must first provide TransPersonal with the necessary documents to verify your identity.

TransPersonal may also ask you for additional identification from time to time.

The Trustee has certain reporting obligations under the Anti Money Laundering and Counter Terrorism Financing Act. The legislation prevents the Trustee from informing members that any such reporting has taken place.

Where legally obligated to do so, the Trustee may disclose the information

Direct marketing From time to time, the Fund may send TransPersonal members communication material, also known as direct marketing material (including marketing material by third parties), about special offers and promotions that are available only to members of TransPersonal. If you do not want the Fund to use your personal information to send you direct marketing material by post or by email, then please tick the direct marketing box on your Membership application form.

You can also opt out of direct marketing material by contacting the Customer Service Team on 1800 222 071.

Family Law and your super Government legislation allows married couples to make binding agreements or obtain orders from the Family Court, in respect of how each partner’s super will be divided on marriage breakdown.

Your super benefit may need to be adjusted to reflect any agreements or Court orders which may be binding on the Trustee. Splitting super entitlements with your spouse will also affect the preserved components of your super and may have tax consequences. You should seek professional advice as to the consequences that separation may have on your super.

Please note that, under the Family Law Act, the Trustee is required to provide certain information about a member’s benefit in TransPersonal to ‘eligible persons’, where the information is required to negotiate a superannuation agreement or to assist with a Court order. For the purposes of the Family Law Act, an ‘eligible person’ means a member, the spouse of a member, or a person who intends to enter a superannuation agreement with the member. In some instances, the law prevents us from telling you about enquiries made about your super by other eligible persons. We are also not legally allowed to give your home address to your spouse if it is requested.

TransPersonal will charge fees for the valuation and the splitting of

superannuation accounts undertaken under the Family Law Act. These fees cover the administration expenses of providing information and splitting a benefit. The details of these fees and how they are paid are in the Additional explanation of fees and costs section.

You can call the Customer Service Team on 1800 222 071 about family law matters affecting your TransPersonal account.

You cannot borrow from TransPersonal Under law, you cannot borrow money from TransPersonal or use your super as security for a loan from any form of lender. You also cannot give (or ‘assign’) your benefits in TransPersonal to someone else.

Cooling-off period TransPersonal’s 14 day cooling-off period allows you to change your mind if you find that the Fund does not meet your needs.

The 14 day cooling-off period will begin from the time you receive confirmation of your membership in TransPersonal or at the end of the 5th day following the day on which you became a member of TransPersonal, whichever is the earlier.

If you cancel your membership within the cooling-off period, the amount returned to you will be adjusted to reflect any investment earnings (positive or negative) of your selected investment option(s) and any Government taxes and charges paid by TransPersonal on your behalf.

Reasonable administrative and transaction costs will also be deducted.

Any request to cancel your application must be made in writing to the Trustee.

It should be addressed to: Fund Administrator TransPersonal Locked Bag 5094 Parramatta NSW 2124.

If you have not met a condition of release and you choose to cancel your membership, your TransPersonal account balance cannot be paid directly to you.

In accordance with superannuation laws, your account balance, less any appropriate adjustments, can only be transferred to another eligible superannuation fund, approved deposit

fund (`ADF’) or retirement savings account (`RSA’).

Within one month of you notifying the Trustee in writing that you wish to exercise your right of cooling-off, you must nominate another superannuation fund, ADF or RSA to which these benefits will be transferred.

The cooling-off period ceases immediately when you exercise a right under TransPersonal.

Understanding risk As with any investment, there is a degree of risk in being a member of any superannuation fund, including TransPersonal.

Investment risks You need to be aware that the value of your TransPersonal account may rise or fall.

There is the risk that, if you leave TransPersonal, you may get back less than the amount of contributions paid in by you and your employer (if applicable), because of the level of investment returns (including negative returns) earned by TransPersonal, the impact of tax, expenses and fees and the cost of your insurance (if any).

Please refer to the Investing your super section for further details of the investment risks (page 24) that may have an impact on your super.

05 OTHER INFORMATION

gathered to regulatory and/or law enforcement agencies, including the Australian Transaction Reports and Analysis Centre (AUSTRAC), banks, service providers or other third parties.

Other risks There is also the possibility that your employer may decide to cease or vary its contributions to TransPersonal. This may affect the value of your super account balance or payout.

A change in the laws that govern super may impact your ability to access your money in the future or affect the tax effectiveness of your super savings. We will keep you informed about any material changes in the law which may affect your super. We suggest you seek professional advice on the changes.

As a member of TransPersonal, you will incur certain fees, charges and insurance premiums, depending on the investment option(s) and insurance cover you select (if any).

There is a risk that these fees, charges and premiums may increase from time to time which may affect your super account balance.

23

06 INVESTING YOUR SUPER Your investment choice can have a big impact on how much super you have at retirement.

Please remember that past performance is not necessarily an indication of future performance.

The returns earned in the future will not necessarily follow the pattern of returns in the table and may be negative in some years.

Investment performance The table below shows the performance of TransPersonal’s three investment options for the last five financial years to 30 June 2008 and the compound average returns for five and ten years to 30 June 2008.

Annual crediting rates Each year, the Trustee declares an annual crediting rate for each of the Fund’s investment options, which is then used to update TransPersonal member’s account balances.

These average and yearly returns are based on the Fund’s annual crediting rates and are net of tax, fees and expenses.

Investment performance

24

Investment basics

25

Your investment options

29

The annual crediting rate for each investment option is the effective rate of net earnings for that investment option adjusted for the impact of cash flows throughout the financial year.

The effective rate of net earnings is calculated by deducting all expenses, fees and taxes from the earning rate for each investment option.

Interim crediting rates Interim crediting rates for each investment option are applied when: • a member leaves TransPersonal before the Annual Crediting rates are declared,

TransPersonal’s investment performance Period

Cash Plus

Balanced

Equity Plus

CPI (Consumer Price Index)

10 year* compound average

4.5%

7.2%

7.4%

3.1%

5 year compound average

3.9%

9.5%

11.7%

3.1%

Year ending 30 June 2008

3.1%

-6.6%

-9.8%

4.5%

Year ending 30 June 2007

4.5%

15.5%

18.8%

2.1%

Year ending 30 June 2006

4.3%

15.3%

20.7%

4.0%

Year ending 30 June 2005

4.5%

11.4%

13.5%

2.5%

Year ending 30 June 2004

3.1%

13.5%

18.4%

2.5%

* The Fund’s Equity Plus and Cash Plus investment options were established in 1999. The 10 year compound average rates are calculated over 9.75 years for Equity Plus and 9 years for Cash Plus. Remember that past performance is not a guarantee of future returns.

24

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Your investment options: Balanced

In the Equity Plus option, most of your super will be invested in Australian and international shares.

History shows that returns from this option are likely to move up and down from year to year but, over the long term, are expected to be higher than those of the Balanced and Cash Plus options.

In the Balanced option, three quarters of your super will be invested in growth assets such as shares and property, with the remainder in defensive assets, such as fixed interest and cash.

Over the long term, the Balanced option returns are expected to be lower than those of the Equity Plus option but higher than those of the Cash Plus option. Balanced option

• a member makes a partial withdrawal or transfer out of their TransPersonal account (including into another division of TransPersonal) during the year, or • a member switches investment options during the year.

The Trustee reviews these rates during the year to ensure that they properly reflect the performance of the Fund’s investments. As such, the rates can be positive or negative.

The current interim crediting rates are available on the Fund’s website at www.twusuper.com.au or by contacting the Customer Service Team on 1800 222 071.

Remember – there are no guarantees!

Please remember that investment returns from all of the investment options are not guaranteed. Your member account balance can move up and down in value depending on movements in the values of the underlying investments in your chosen investment option(s).

If you leave TransPersonal, the benefit you receive may be less than the amount of contributions paid into your member account, if investment returns are low or negative. The impact of tax and any fees, insurance premiums and charges incurred will also reduce the amount you receive.

If you are unsure about your investment choice, you should seek professional advice.

Please note that TransPersonal may add new investment options, remove existing investment options or alter any investment option from time to time.

You will be kept informed of any such material changes.

Investment basics A quick look at your three investment options To keep things simple, we offer TransPersonal members a choice of three investment options that correspond to commonly chosen investment strategies. You can choose any one investment option or a combination of the options.

You must have $1,000 or more in your TransPersonal account to make an investment choice. If you have less than $1,000 in your account, your super will be automatically invested in our Balanced option.

For each investment option, the Trustee has selected a mix of asset classes and professional investment managers. All you need to do is pick the investment option, or combination of options, that you think best suits your needs.

Each investment option is described in more detail on page 29.

Learn the investment basics Before we start explaining the options and how they work, here are a few investment basics.

returns are expected to be more stable than those of the Equity Plus option.

The Balanced option is where your super will be invested if you do not make an investment choice.

Cash Plus In the Cash Plus option, all of your super will be invested in a combination of short term interestbearing securities and cash.

We all save in different ways. Many of us are paying off our home or planning on buying one, some of us have shares and all of us have a bank account.

Like your personal investments, superannuation funds invest too, they just do this on a much larger scale.

There are four main types of investments that super funds have — shares, property, fixed interest and cash.

Generally speaking, these are grouped as either growth assets or defensive assets.

06 INVESTING YOUR SUPER

Equity Plus

The right investment strategy for your super depends on how much risk you are comfortable with and how much time you have until you retire.

25

Growth assets

has the expectation of growth in value, but also some ups and downs.

• Shares;

Private Equity

• Property;

Private equity investments are investments in unlisted shares in companies. They are not traded on the share market. The Fund invests in private equity investments by investing in venture capital funds (offering interests in private businesses in their early stage of development), buyout funds (offering interests in more established companies with positive cash flow) and mezzanine funds (offering interests in companies just before they are publicly listed).

• Private Equity; and • Infrastructure.

These are types of investments that have the potential to grow over the long term, but are also likely to experience volatility (ups and downs) in performance from year to year.

Shares When you buy shares you are actually buying part of a company. Your investment return will depend on how the company performs over time, on economic factors and on investors’ views of the company.

By investing in international shares, you are investing in companies based in different countries, which may assist in reducing overall volatility of your total investment portfolio (ups and downs in returns) through increased diversification (not putting all your investment ‘eggs in the one basket’).

International share investments may also be subject to currency movements which can add to, or take away from, the share investments’ returns.

Over the long term, returns from shares have in the past tended to be higher than those achieved by property, fixed interest and cash. However, over shorter periods, performance tends to have more ups and downs.

Property Buying office buildings, shopping centres, industrial estates and other similar property investments is known as direct property investment.

Investors can also buy units in property trusts which, in turn, buy a variety of properties. These trusts may be listed on the Australian Securities Exchange or they may be unlisted.

Like shares, property investment is suitable for long-term investment as it

26

The Fund has chosen to minimise the risks involved in private equity by investing in funds that specialise in this sector. These funds take large stakes in private equity investments, as well as having an active role in monitoring and advising the private companies in the portfolio.

Infrastructure Infrastructure funds give investors exposure to a professionally managed portfolio of infrastructure assets, such as: • Toll roads • Airports • Communications assets such as broadcasting towers • R ail facilities and other transport assets • Utilities such as electricity power lines and gas pipelines.

Infrastructure funds are managed by specialist fund managers, who make all the investment decisions.

Returns from infrastructure funds have a combination of capital growth and income. The income generated by infrastructure assets is expected to be fairly predictable, as these funds operate in environments with low levels of competition and high barriers to entry.

For growth-orientated funds, the absence of stable income in the nearterm is expected to be compensated with capital growth in the medium term.

On the other hand, some infrastructure

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funds have more mature assets that are generating steady income streams. The Fund invests in both income-orientated assets and growth-orientated assets.

Defensive assets • Fixed interest; • Cash; and • Absolute Return Funds.

These are types of investments used when trying to protect assets from the chance of a negative return (in other words the value of assets falls).

Defensive investments tend to produce lower long-term, but more stable, returns than growth investments.

Fixed interest Fixed interest investments are issued to investors by Australian and foreign Governments, semi-Government authorities and companies in return for cash. Interest is paid to investors over the life of the investment, usually at a fixed rate. These investments can generally be bought or sold before they mature, potentially resulting in capital gains or losses.

International fixed interest investments are normally fully hedged to remove the effect of currency movements.

Hedging is a process of protecting investments against, or reducing the risk of, a loss resulting solely from adverse currency movements.

Fixed interest investments are less volatile than shares and property, but with a lower expected return in the long term.

Over shorter periods returns can be negative, particularly in situations where interest rates rise significantly.

Cash Cash includes short-term, interestbearing investments.

Generally, the likelihood of losing the initial investment in cash is minimal.

INVESTING YOUR SUPER

06

27

While volatility (the chance of ups and downs in value) with cash is low, the returns are also likely to be lower than those available from fixed interest, property and shares over the long term.

On the other hand, defensive assets have tended to give lower returns over the long term, but experience smaller and fewer ups and downs than growth assets in the short term.

Absolute Return Funds

By having different ‘mixes’ of growth and defensive assets in investment options, the characteristics of those investment options change.

Absolute return or hedge funds generally aim to produce returns in both rising and falling investment markets.

The investment techniques adopted by an absolute return fund vary from methods employed by a traditional fund manager. Rather than the traditional ‘buy and hold’ approach, absolute return funds have greater scope to use sophisticated trading strategies to benefit from opportunities in the market.

Although every fund is different, the underlying investments in an absolute return fund may include shares, bonds, currencies, options, futures, commodities, real estate securities, and other financial instruments and strategies.

The performance of absolute return funds is not generally correlated to the performance of traditional assets such as shares, property or fixed interest.

While the risk profile of absolute return funds can range from very conservative to aggressive, the Fund only invests in the conservative ‘fund of fund’ vehicles.

A ‘fund of fund’ refers to a fund which invests in a number of absolute return funds.

Investments and risk Historically, growth assets have tended to give higher returns over the long term than defensive assets, but have experienced more frequent and larger ups and downs or ‘risks’ in the short term.

We know investing is not easy. If you are not sure which investment option is right for you, you should seek professional advice.

28

If an investment option has a high proportion of growth assets compared to defensive assets, you would generally expect higher longterm returns with more short-term volatility or ups and downs than in the opposite case of a low proportion of growth assets and a high proportion of defensive assets.

About risk All investments have some element of risk associated with them.

Investment risk can be thought of as the chance that the return from your investment will be different to what you expect. Your investment in TransPersonal could rise or fall in value or produce a return which is less than you expect. Rises and falls in value occur for a variety of reasons and sometimes quickly. The types of investment risks which may have an impact on your investment in TransPersonal include: • I ndividual asset risk – the risk attributable to individual assets held within a particular asset class.

• Market risk – the risk of major movements in a particular asset class.

• P olitical risk – the risk that domestic and international political stability or instability will impact your investment.

• I nflation risk – the risk that money will not maintain its purchasing power due to increases in inflation.

• Timing risk – the risk that, at the date of investment, your money is invested at higher market prices than those available soon thereafter.

It can also mean the risk that, at the date of cashing in your super, your investments are redeemed at lower market prices than those that

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were available shortly before or soon afterwards. These movements will affect the crediting rate and consequently the payout you will receive.

• I nvestment manager risk – the risk that a particular investment manager will underperforms the market return (this could be, for example, because their view on markets is wrong over a period, because of their investment ‘style’ or because they lose key investment personnel).

• C redit risk – the risk that a debt issuer will default on payment of interest and/or principal.

• L iquidity risk – the risk that you will be unable to redeem your investment at your chosen time.

• C urrency risk – the risk that international investments lose value as a result of a rising Australian Dollar.

Actual asset allocation Over time the Trustee reviews the benchmark strategic allocation of its investment in various asset classes and will communicate with members regarding material changes (5% or more of a strategic asset class being revised). The actual asset allocation may differ from the benchmark strategic asset allocation, especially where the Trustee is in the process of changing the benchmark strategic asset allocation.

The actual asset allocation as at 30 June 2008 is detailed in the Fund’s 2008 Annual Report which is available at www.twusuper.com.au.

Your investment options Mix of investments (strategic asset allocation)

Current Benchmark

Balanced Mix of investments (strategic asset allocation)

Equity Plus Current Benchmark

Mix of investments (strategic asset allocation)

Current Benchmark

GROWTH ASSETS

0%

GROWTH ASSETS

75%

GROWTH ASSETS

100%

Australian shares

0%

Australian shares

25%

Australian shares

41%

International shares

0%

International shares

21%

International shares

34%

Direct property

0%

Direct property

8%

Direct property

3%

Listed property

0%

Listed property

8%

Listed property

7%

Private Equity

0%

Private Equity

5%

Private Equity

10%

Infrastructure

0%

Infrastructure

8%

Infrastructure

5%

DEFENSIVE ASSETS

100%

DEFENSIVE ASSETS

25%

DEFENSIVE ASSETS

0%

Cash/Interest bearing securities

100%

Cash/Interest bearing securities

4%

Cash/Interest bearing securities

0%

Australian fixed interest

0%

Australian fixed interest

4%

Australian fixed interest

0%

International fixed interest

0%

International fixed interest

7%

International fixed interest

0%

Absolute return funds

0%

Absolute return funds

10%

Absolute return funds

0%

25% Defensive Assets

100% Defensive Assets

100% Growth Assets

75% Growth Assets

Primary return objective:

Primary return objective

Primary return objective:

To earn an annual rate of return that is greater than the UBS Bank Bill Index.

To earn an annual return that is 3% a year higher than the Consumer Price Index (‘CPI’) over rolling five-year periods.

To earn an annual return that is 3.5% a year higher than the CPI over rolling five-year periods.

Risk objective: Negative monthly returns are generally not expected.

Risk objective

Strategy

To limit the likelihood of a negative return, on average, to approximately no more than one year in every five.

Invests in cash and short-term interest bearing securities. Investments are more stable than in Equity Plus or Balanced with low risk of capital loss but also a low potential for higher investment returns over the long term.

Strategy Invests approximately 75% in growth assets such as shares, property and infrastructure, with the rest in defensive assets such as fixed interest and cash.

Investments are expected to have less risk of loss of capital and less short-term fluctuations in returns than investments in the Equity Plus option. Over the long term, Balanced investment option returns are expected to be lower than Equity Plus returns, but higher than Cash Plus returns.

06

Risk objective: To limit the likelihood of a negative return, on average, to approximately no more than one year in every four.

Strategy

INVESTING YOUR SUPER

Cash Plus

Invests mostly in shares, both Australian and international. History shows returns from this option are likely to move up and down from year to year with short-term risk of capital loss, but over the longer term should perform better than the Balanced or Cash Plus investment options.

29

Other things you should know Our investment philosophy The investment philosophy of the Fund is to enhance the benefits available to members by seeking to maximise the returns on assets without exposing the assets to unnecessary risk.

Investment objectives The Equity Plus and Balanced options both have a number of investment return objectives, based on expected returns compared with inflation, compared with other super funds and compared with a benchmark (see Investment strategy in the next column). The Cash Plus option has an investment return objective based on expected returns relative to a shortterm cash rate. For more information, contact the Customer Service Team on 1800 222 071.

All three options also have a risk objective relating to the expectation of negative returns. These risk objectives are based on historical data and should not be considered to be guarantees. Just because a negative return occurs in one year does not mean it will be followed by a positive return in the next year.

In setting the overall objectives, the Fund ensures that the objectives contain quantifiable and measurable performance targets, including defined timeframes and ways of measuring whether the objectives have been met.

However, the Fund recognises that the nature of most investments is such that these objectives are intentions only and may not be achieved in any particular timeframe. The goal will be to achieve the investment objectives as frequently as possible.

Investment strategy Each investment option has an investment strategy to achieve the stated objectives. The strategy includes the selection of a long-term mix of investments (asset classes), called a ‘strategic asset allocation’, that supports the option’s objectives. These strategic asset allocations are chosen after considering professional advice and we believe that the chosen strategies give the investment options a reasonable chance of meeting their objectives.

However, there is no guarantee that a particular objective will be met over a particular period.

30

The current benchmark strategic asset allocation for each investment option is shown in the summary table on page 29. Please note that the mixes of investments making up the benchmarks may change from time to time.

Sector specialist approach The Fund appoints specialist managers to invest assets in each sector (or ‘asset class’). Often, more than one manager is appointed in an asset class, to provide diversification.

For example, a number of managers may be appointed to manage Australian shares and different managers appointed for international shares.

Because no single investment manager is likely to be among the best in more than one asset class, investment options involving a number of asset classes will typically be managed by a range of different managers.

Choosing and monitoring investment managers The Fund receives professional advice on the selection and ongoing review of investment managers, including the monitoring of their performance against investment objectives.

The Fund may remove, replace or add investment managers from time to time.

Reserves The Fund can hold reserves due to the rounding of the earning rates credited to each member’s account at 30 June each year and year end adjustments.

The Trustee also maintains a reserve of $250,000 required by its RSE Licence.

Use of derivatives The Fund does not undertake day-to-day investment of derivative instruments (such as ‘futures’ or ‘options’).

External investment managers may use derivatives in: • managing individual investment portfolios for the Trustee, • pooled funds in which the Fund invests, and • rebalancing the asset mix of the Equity Plus and Balanced investment options closer to their benchmark asset mix.

Derivative investments are not used for borrowing, leveraging or speculative purposes.

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There are limits on the amount of derivatives that can be used in the Fund’s individual investment portfolios, which are stated in the Investment Management Agreements with the managers. Each manager that uses derivatives has a Derivative Risk Statement that describes the risks and controls in place.

The Fund receives regular reports of the managers’ compliance with their Derivative Risk Statements.

The Trustee of the Fund has adopted a Derivative Risk Statement in which the management of derivatives is described.

Socially responsible investment (SRI) The Fund takes environmental, social and ethical considerations (‘SRI Considerations’) into account when deciding whether to buy, hold or sell investments. The Fund has written to all existing investment managers stating that it expects a responsible approach to investment to be taken which includes environmental, social and ethical considerations. The Fund does not take labour standards into account.

The Fund’s SRI Considerations policy will be taken into account in appointing new investment managers and, where otherwise appropriate, in investing in new collective investment schemes.

Decisions about SRI Considerations will be delegated to such investment managers and scheme trustees.

The Fund has no predetermined view about what it regards as environmental, social or ethical considerations and will take account of SRI Considerations it becomes aware of, but only to the extent that they financially affect the long term performance of the investment.

The Fund is a signatory to the United Nations’ Principles for Responsible Investment (UNPRI). The UNPRI provide a framework of global standards, recognising the direct link between environmental, social and governance practices and investment performance.

The principles include voluntary actions related to investment decision-making, active ownership, transparency and collaboration.

The investment managers will report to the Fund on their SRI Considerations on an ongoing basis. The Fund’s approach in respect of an investment which no longer adheres to its policies on SRI Considerations will be determined on a case-by-case basis.

Making your decision

This choice will be your decision alone and will need to be based on your individual objectives, financial circumstances and needs.

When making an investment choice, our Customer Service Team can help you with general enquiries but, for legal reasons, they are not allowed to give advice as to which investment option(s) are right for you.

Some points you may wish to consider before making your choice: • How much risk you are comfortable with, • Your investment timeframe, • What you plan to do with your super when you retire.

• Do you have any investments outside of super and are they mainly growth assets or more stable defensive assets?

• How much longer will you be earning an income and contributing to super?

• Are you planning on cashing-in all or part of your super when you retire to pay for things other than an ongoing income?

How much risk are you comfortable with?

All investments involve some level of ‘risk’, which is the chance that the return from your investment will be different to what you expect. Because some investment options are more volatile than others (often depending on the mix of growth and defensive assets), having a choice of investment options helps you control how much risk you want to take.

Investing your super in defensive assets also carries potential risks over the long term, in particular, the risk that your super investment will not keep up with inflation. If your super does not grow as fast as inflation, your super will lose its buying power and you may end up with a smaller nest egg than you expect.

Your investment timeframe Government rules generally mean that you cannot access your super until you are at least aged 55 (see the Withdrawing your super section on page 18). Even when you have retired, you are likely to need to invest a large proportion of your money to give you an adequate income in retirement.

If you have a long investment timeframe, then you may wish to consider focusing on investments that have a high proportion of growth assets. With time on your side, you may feel that you can afford to ride out the inevitable ups and downs of investment markets, in the expectation of higher long-term returns.

On the other hand, if you have a short timeframe and it is important for you to avoid short-term falls in the value of your super, a more conservative, defensive approach may be better.

Remember that any investment choice you make should be based on your own objectives, financial circumstances and needs.

Need help?

If you are unsure about how you want to plan for your finances in retirement, you should seek professional advice.

A financial adviser will be able to help you make decisions based on your individual circumstances.

For general assistance or to help with paperwork, our Client Relations Team can visit your workplace or home for free. See the back cover for more details.

You do not have to make an investment choice If you do not make an investment choice, your super will be automatically invested in our Balanced investment option.

Different investment fees apply to each investment option Each investment option is managed by professional investment managers.

Their fees are included in the investment management fees which are deducted from the Funds’s earnings before the investment returns are calculated.

06 INVESTING YOUR SUPER

The right investment option for you depends on your individual objectives, financial circumstances and needs. We recommend that you seek professional advice when making an investment decision.

31

These investment management fees vary between investment options.

For more information on fees and other deductions, see the Fees and other costs section on page 8.

New members with an account balance over $1,000 If you are a new TransPersonal member with an opening account balance of more than $1,000, you can nominate your investment options by completing and returning a Choosing your investment option(s) form with your Membership application. For a copy of this form, please call the Customer Service Team on 1800 222 071 or visit the website at www.twusuper.com.au.

Existing members If you are an existing TransPersonal member and want to change your investment options, please complete and return a Choosing your investment option(s) form. For a copy of this form, please call the Customer Service Team on 1800 222 071 or visit the website at www.twusuper.com.au.

What next?

Having made your choice of investment option(s), it is important to remember that you can change it in the future if your circumstances change. Generally, you only need to change your super investment strategy a few times in your life to reflect changing life stages.

You should avoid changing your investment strategy in reaction to short-term investment performance.

If your super is a long-term investment (as it is for most people), you should view your investment strategy over the long term as well, and ignore ‘noise’ caused by short-term fluctuations in performance.

Investment overview If you do not make an investment choice, your member account will be automatically invested in our Balanced investment option.

Before making any investment decisions, you should carefully consider the risks that apply to each of the investment options on offer.

This is important, as investment returns in any of the Fund’s investment options are not guaranteed and, as such, you may get back less money than you invest.

You should be aware that investment returns and the value of your investments may go up or down over time. Also, you should not rely on past performance as an indicator of the future performance of any of the investment options.

We strongly recommend that you seek professional advice before making any investment decisions.

Changing your investment option(s) You can change your investment option(s) at any time, as long as your account balance is greater than $1,000.

You can switch investment options once a month.

It’s important to note that changing your investment options can have a big impact on your super account balance over the long term. You should seek professional advice before making any change to the way your super is invested.

If you want to change your investment option(s), call the Customer Service Team on 1800 222 071 to request a Choosing your investment option(s) form. You can also download a copy of this form from www.twusuper.com.au.

32

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

INVESTING YOUR SUPER

06

33

07 INsurance TO SUIT YOU

Death and TPD cover

36

Income protection cover

37

Transfer your existing cover

41

Other things you should know

43

TransPersonal understands the importance of providing our members with access to affordable insurance cover to protect you and your family in the event of injury, illness or death.

be Group 1. You can apply to change your job category at any time by completing our Application to change insurance group form.

Insurance to suit you Voluntary death and TPD cover As a TransPersonal member, you can apply for voluntary death cover or voluntary death and total and permanent disablement (TPD) cover to safeguard your family’s finances.

See page 36 for more details.

Income protection cover You can also take out income protection insurance to provide you with a financial safety net. An income protection benefit is paid monthly for up to two years if you are unable to work because of sickness or injury.

See page 37 for more details.

Transfer your existing cover You may be eligible to transfer your existing level of death, TPD or income protection insurance cover to TransPersonal from your current super fund.

Any cover you transfer into TransPersonal is held in addition to voluntary death or death and TPD cover already held with TransPersonal. See page 41 for more details.

Things you need to know about our insurance cover before you get started What is my job category?

The premiums and/or dollar amount of each unit of death cover, TPD and income protection cover depend on your age and your type of employment.

TransPersonal uses two job categories based on employment type (see the box to the right).

What if I don’t choose or don’t know my job category?

If you do not make a choice between Group 1 and Group 2 when you join TransPersonal, your job category will

34

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If you move from a Group 1 job category into a Group 2 job category, you will have to work in that position for twelve consecutive months before you are entitled to Group 2 benefits.

Seek professional advice about your insurance Having the right insurance for your needs is important, so we suggest you seek professional advice before making any decisions about your insurance cover with TransPersonal.

Paying for your cover Insurance premiums are calculated weekly and deducted monthly from your TransPersonal account.

It is important that you make sure you have enough money in your super account to cover your insurance premiums each month, or your insurance may lapse (see page 44).

Active employment means that you are employed by an employer to carry out identifiable duties, are actually performing those duties and in the opinion of the insurer are not restricted by injury or sickness from being capable of performing those duties on a full-time basis and the duties of your normal occupation on a full-time basis (even if not then working on a full-time basis).

Full time means at least 35 hours per week.

Medical evidence/proof of age At some point you may be asked to provide evidence of health or proof of age.

Cover may be refused or special terms and conditions may be imposed if the information supplied is incorrect or unsatisfactory or if you do not supply the requested information.

Medical Practitioner must be a person acceptable to the insurer who is registered and practising as a medical practitioner in Australia other than yourself, your spouse or partner, parent, child or sibling.

Job categories: Group 1

Group 2

Includes truck drivers, courier drivers, loaders and work that involves manual duties. If you do not fit into Group 2 you will be classified as a Group 1 category member.

If you work for at least 75% of your time in an office environment, without manual duties, and you have done so for at least the last twelve consecutive months you will be classified as a Group 2 category member.

Pre-disability income means the total monthly value of the remuneration (excluding bonuses) received by you from your regular occupation averaged over the most recent twelve months immediately prior to disability. If you commenced employment less than twelve months ago then the monthly remuneration will be averaged over the period since you started, subject to a minimum averaging period of six months.

to your death within twelve months of the date of the certification (despite reasonable medical treatment).

Terminal illness means that you suffer from a sickness which a Medical Practitioner (who specialises in the sickness) certifies in writing will lead

Voluntary death cover provides you with death and terminal illness insurance cover, with the amount of insurance varying depending upon your age and job category.

Voluntary death and TPD cover provides you with death, terminal illness and TPD insurance cover, with the amount of insurance varying depending upon your age and job category.

07 INSURANCE TO SUIT YOU

Some insurance terms explained

35

Death and TPD cover With voluntary insurance, you can apply to insure yourself for up to a total of $5 million for death cover and up to a total of $2 million for TPD cover.

Voluntary death cover provides you with death and terminal illness insurance cover, with the amount of insurance varying depending upon your age and job category.

Voluntary death and TPD cover provides you with death, terminal illness and TPD insurance cover with the amount of insurance varying depending upon your age and job category.

Who can apply for voluntary cover?

You must be under age 70 to apply for voluntary death cover and under age 65 to apply for voluntary death and TPD cover.

How do I apply for voluntary cover?

To apply, you need to complete an Application for additional insurance form and either a CommInsure Short Personal Statement attached to this PDS or a Full Personal Statement available from the website (www.twusuper.com.au), depending on the amount of voluntary cover you apply for.

Voluntary insurance cover is subject to the insurer accepting the application after considering your health and other evidence.

You need to decide on the amount of cover you want and then apply for the appropriate number of units to receive that amount. Each unit provides death cover or death and TPD cover of $10,000. For example, if you want an extra $80,000 worth of death and TPD cover, you need eight units of voluntary cover.

If you need help completing your insurance forms call your local Client Relations Officer. See the back cover for more details.

Personal health information We require your consent to collect, use or disclose your health and other personal information you provide in the CommInsure Short or Full Personal Statement. Such information is collected and provided to the insurer to assess your eligibility for insurance and to administer your application.

Cost of voluntary cover The cost of voluntary cover depends on your age and your job category (i.e. Group 1 or 2).

To work out the weekly premium for your age and job category, refer to the premium rates in Table 1 on page 37: 1. Look up your age at your next birthday in the left hand column.

2. Look across to the relevant premium unit rate for your job Group in the column containing the death only or combined death and TPD rate.

3. Multiply the premium unit rate by the number of units of voluntary insurance cover you want.

The cost of cover is automatically deducted from your super account on a monthly basis, so you don’t have to pay for it out of your pocket.

Your voluntary or income protection insurance cover will start on the date the insurer accepts your application for cover.

Example

All forms are available on the website or you can call the Customer Service Team on 1800 222 071 to request a copy.

Pete, who is 40 years old, wants to take out voluntary insurance.

He wants $120,000 worth of cover for both death and TPD.

If you are applying for: Up to $800,000 death or death and TPD cover Then complete the: CommInsure Short Personal Statement in this PDS (FORM A) If you are applying for:

Looking at Table 1, the weekly premium for $10,000 cover (death and TPD) for a Group 1 member turning 41 next birthday is $0.81.

Cover: Pete wants $120,000 cover. This is equivalent to 12 units (each unit being $10,000).

Then complete the:

Cost: Therefore, Pete’s weekly premium for voluntary insurance is $0.81 (the cost of one unit of cover for death and TPD benefit) multiplied by 12 (the number of units) = $9.72 per week.

CommInsure Full Personal Statement (FORM B).

You will need to request this form – see above.

This is the total initial cost. The cost will generally increase with age.

More than $800,000 death or death and TPD cover

36

To find out how much this insurance would cost him per week, Pete does the following:

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Death Only Benefit

Death & TPD Benefit

Age Next Birthday

Group 1

Group 2

Group 1

Group 2

15 – 30

$0.18

$0.08

$0.52

$0.14

31

$0.18

$0.08

$0.53

$0.15

32

$0.19

$0.09

$0.53

$0.15

Income protection cover Income protection cover can give you peace of mind by providing you with monthly benefit payments for up to two years if you are unable to work because of sickness or injury.

33

$0.19

$0.09

$0.55

$0.15

34

$0.20

$0.09

$0.56

$0.16

35

$0.21

$0.09

$0.59

$0.16

36

$0.21

$0.10

$0.62

$0.17

Then complete the:

37

$0.23

$0.10

$0.65

$0.17

38

$0.24

$0.10

$0.68

$0.18

CommInsure Short Personal Statement in this PDS (FORM A)

39

$0.25

$0.11

$0.72

$0.19

If you are applying for:

40

$0.27

$0.11

$0.76

$0.19

41

$0.28

$0.11

$0.81

$0.20

42

$0.30

$0.12

$0.86

$0.21

43

$0.31

$0.12

$0.90

$0.22

44

$0.32

$0.13

$0.93

$0.23

45

$0.33

$0.14

$0.95

$0.24

46

$0.35

$0.14

$1.00

$0.25

If you are applying for: Up to $6,000 per month income protection cover

More than $6,000 per month income protection cover Then complete the: CommInsure Full Personal Statement (FORM B).

You will need to request this form – see page 40.

47

$0.36

$0.15

$1.02

$0.26

48

$0.37

$0.16

$1.05

$0.28

49

$0.38

$0.17

$1.10

$0.29

50

$0.39

$0.18

$1.13

$0.31

51

$0.40

$0.19

$1.16

$0.33

• casually employed and working at least 15 hours per week.

52

$0.42

$0.20

$1.22

$0.35

How do I apply for income protection cover?

53

$0.45

$0.21

$1.29

$0.38

54

$0.47

$0.23

$1.36

$0.41

55

$0.50

$0.25

$1.44

$0.44

Income protection insurance cover is subject to the insurer accepting the application after considering your health and other evidence.

56

$0.53

$0.27

$1.54

$0.48

57

$0.57

$0.30

$1.65

$0.53

58

$0.62

$0.34

$1.78

$0.59

59

$0.67

$0.38

$1.93

$0.67

60

$0.73

$0.44

$2.09

$0.77

61

$0.80

$0.48

$2.37

$0.86

62

$0.87

$0.52

$3.14

$1.06

63

$0.95

$0.57

$4.69

$1.48

64

$1.06

$0.63

$9.25

$2.61

$19.26

$5.00

65

$1.11

$0.66

66

$1.21

$0.72

67

$1.30

$0.78

68

$1.44

$0.85

69

$1.56

$0.92

70

$1.69

$1.01

Who can apply for income protection cover?

Income protection cover is available if you are: • under age 65 and permanently employed, or

To apply, complete the income protection cover section of the Application for additional insurance (including the CommInsure – Short Personal Statement or Full Personal Statement) form.

You need to decide on the amount of cover you want and then apply for the appropriate number of units to receive that amount. Each unit provides income protection cover of $100 per month. For example, if you want $2,500 monthly benefit payments if you make an income protection claim, you will need to apply for twenty five units.

07 INSURANCE TO SUIT YOU

TABLE 1 – Voluntary Cover Premium Table (for $10,000 sum insured per week).

You also need to decide whether you want a 30 day waiting period or a 90 day waiting period. See page 38 for more information.

37

Limits apply to income protection benefit payments. See below for more information.

Income protection benefit payments are gross of tax and will be taxed at your PAYG income tax rate.

Your income protection insurance cover will start on the date the insurer accepts your application for cover.

It is important that you review the level of income protection cover on a regular basis to make sure that you always have the appropriate level of cover, particularly if your salary changes.

All forms are available to download at www.twusuper.com.au or you can call the Customer Service Team on 1800 222 071 to request a copy.

When does an income protection benefit start?

If you need help completing your insurance forms call your local Client Relations Officer. See the back cover for more details.

When you apply for income protection insurance cover, you can choose either a 30 day or 90 day waiting period.

Amount of cover

The income protection insurance benefit will be paid monthly in arrears and will start after:

If you are eligible for income protection cover, the minimum income protection benefit is $1,000 per month.

• the waiting period has elapsed; and

The maximum monthly benefit you can claim is the lower of:

• after the insurer has determined that you are disabled due to sickness or injury.

• 75% of your average monthly income (before bonuses) for the last twelve consecutive months, or

No benefits are paid during the waiting period.

• $25,000 per month.

38

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

If you do not choose your waiting period, you will automatically be provided with a 30 day waiting period.

Note that higher premiums apply for a 30 day waiting period.

When does your income protection benefit end?

Your monthly income protection benefit will continue to be paid to you until the earliest of any one of the following events occurs: • you are no longer disabled; • the end of the benefit period, which is two years; • you reach age 65; or • you die (however, an additional 2 months’ benefit will be paid on death if you are receiving income protection benefit payments at that time).

If, after being totally disabled, you are assessed to be only partially disabled during the benefit payment period, you may still be eligible to receive part of the monthly benefit.

Disability for the purpose of income protection insurance In order to qualify for the income protection insurance benefit, you must be either totally or partially disabled immediately after the 30 or 90 day waiting period (whichever applies to you).

Totally disabled means if because of sickness or injury, you are: • unable to perform at least one income producing duty of the normal occupation or work carried out by you before becoming disabled; • under the regular care of, and following the advice of, a Medical Practitioner; and • not working in any occupation, whether or not for reward.

Where income producing duty means a duty of your occupation immediately before you became disabled which generates 20% or more of your income.

• are working in a reduced capacity in your normal occupation or work or you are working in another occupation; • are earning a monthly income that is less than your pre-disability income; and • are under the regular care of, and following the advice of, a Medical Practitioner.

Cost of income protection insurance cover The cost of income protection insurance cover depends on your gender, age, job category (whether Group 1 or 2) and chosen waiting period (30 or 90 days).

The premiums generally increase each year as you get older.

To work out the weekly premium for your age and job category, refer to the premium tables on page 44. If you choose a 90 day waiting period, refer to Table 2. If you choose a 30 day waiting period, refer to Table 3.

To determine the weekly premium:

Partially disabled means you are not totally disabled but, because of sickness or injury, you:

• Look up your Group (1 or 2) and gender to identify the correct column for you;

• have been totally disabled for at least the number of days in the relevant waiting period (30 or 90 days);

• Look up your age next birthday in the left hand column of the table to identify the correct premium for your age, gender and Group;

• are unable to work at full capacity in your normal occupation or work carried out by you before becoming disabled;

• Multiply the corresponding figure by the number of units of income protection insurance cover you want.

The cost of cover is calculated weekly and deducted monthly from your super account.

Your monthly income protection insurance benefit will be reduced by any ‘disability income’ you may receive.

See below for a definition of ‘disability income’.

Other disability income Disability income means income or equivalent payments as a result of your sickness or injury including: • social security payments; • sick leave payments; • any amounts payable under legislation such as workers’ compensation or motor accident compensation; • any benefits payable under other income protection insurance policies; • any income earned by you from personal exertion while disabled; and • any income the insurer determines you could reasonably be expected to earn in your occupation whilst you are disabled.

Example Steve, a courier driver who is 35 years old, wants to take out income protection insurance.

He earns $40,000 and wants to take out the maximum level of cover with a 90 day waiting period. So, Steve can take out a maximum of $2,500 monthly cover ($40,000/12 x 75%).

To find out how much this insurance would cost him per week, Steve does the following:

Age: Steve is 35. Looking at Table 2 on page 40, the weekly premium for 90 day waiting period for a Group 1 male who is 35 years old turning 36 next birthday is $0.18.

Cover: Steve wants $2,500 cover.

This is equivalent to 25 units (each unit being $100).

Cost: Therefore, Steve’s weekly insurance premium for income protection is $0.18 (the cost of one unit of cover) multiplied by 25 (the number of units) = $4.50 per week.

This is the total initial premium.

Premiums generally increase with age.

Note: If Steve chooses the same level of cover but instead chose the shorter 30 day waiting period, Table 3 (page 40) premium rates would apply and the total initial cost would be $12.25 per week. $0.49 (the cost of one unit of cover) multiplied by 25 (the number of units) = $12.25 per week.

INSURANCE TO SUIT YOU

07

39

TABLE 2 – Income Protection weekly Premium Table (for monthly benefit of $100 sum insured)

Age Next Birthday

40

90 Day Waiting Period Group 1 Group 2 Female Male Female Male

TABLE 3 – Income Protection weekly Premium Table (for monthly benefit of $100 sum insured)

Age Next Birthday

30 Day Waiting Period Group 1 Group 2 Female Male Female Male

16

0.11

0.17

0.03

0.04

16

0.29

0.37

0.08

0.08

17

0.11

0.17

0.03

0.04

17

0.29

0.37

0.08

0.09

18

0.11

0.17

0.03

0.04

18

0.30

0.37

0.08

0.09

19

0.12

0.17

0.03

0.04

19

0.30

0.38

0.08

0.09

20

0.12

0.17

0.03

0.04

20

0.31

0.38

0.09

0.09

21

0.13

0.18

0.04

0.05

21

0.32

0.39

0.09

0.09

22

0.14

0.18

0.04

0.05

22

0.33

0.40

0.09

0.09

23

0.14

0.18

0.04

0.05

23

0.34

0.40

0.09

0.09

24

0.16

0.18

0.05

0.05

24

0.36

0.40

0.10

0.09

25

0.17

0.18

0.05

0.05

25

0.36

0.41

0.10

0.09

26

0.17

0.17

0.05

0.04

26

0.36

0.40

0.10

0.09

27

0.17

0.17

0.05

0.04

27

0.37

0.39

0.10

0.09

28

0.17

0.16

0.05

0.04

28

0.37

0.38

0.10

0.09

29

0.17

0.15

0.05

0.04

29

0.37

0.38

0.10

0.09

30

0.17

0.15

0.05

0.04

30

0.38

0.39

0.11

0.09

31

0.17

0.15

0.05

0.04

31

0.40

0.40

0.11

0.09

32

0.18

0.15

0.05

0.04

32

0.42

0.41

0.11

0.09

33

0.19

0.16

0.05

0.04

33

0.44

0.43

0.12

0.10

34

0.19

0.16

0.05

0.04

34

0.46

0.44

0.13

0.10

35

0.20

0.17

0.05

0.04

35

0.49

0.46

0.13

0.11

36

0.21

0.18

0.06

0.05

36

0.51

0.49

0.14

0.11

37

0.23

0.20

0.06

0.05

37

0.54

0.51

0.15

0.12

38

0.24

0.20

0.07

0.05

38

0.58

0.54

0.16

0.13

39

0.26

0.23

0.07

0.05

39

0.61

0.57

0.17

0.13

40

0.29

0.25

0.08

0.06

40

0.65

0.61

0.18

0.14

41

0.31

0.26

0.08

0.06

41

0.68

0.64

0.19

0.15

42

0.34

0.29

0.09

0.07

42

0.72

0.68

0.20

0.16

43

0.37

0.32

0.11

0.08

43

0.76

0.72

0.21

0.17

44

0.41

0.35

0.11

0.08

44

0.80

0.77

0.22

0.18

45

0.44

0.39

0.12

0.09

45

0.84

0.81

0.23

0.19

46

0.49

0.44

0.14

0.10

46

0.89

0.87

0.24

0.20

47

0.54

0.49

0.15

0.11

47

0.94

0.93

0.26

0.21

48

0.59

0.54

0.16

0.13

48

1.00

1.00

0.27

0.23 0.25

49

0.65

0.61

0.18

0.14

49

1.06

1.07

0.29

50

0.71

0.68

0.20

0.16

50

1.13

1.16

0.31

0.27

51

0.77

0.76

0.21

0.17

51

1.20

1.26

0.33

0.29

52

0.84

0.85

0.23

0.20

52

1.28

1.36

0.35

0.32

53

0.92

0.95

0.25

0.22

53

1.37

1.48

0.38

0.34

54

0.99

1.07

0.27

0.25

54

1.46

1.61

0.40

0.37

55

1.07

1.20

0.29

0.28

55

1.56

1.74

0.43

0.40

56

1.16

1.34

0.32

0.31

56

1.66

1.89

0.45

0.44

57

1.25

1.50

0.34

0.35

57

1.77

2.05

0.49

0.47

58

1.34

1.69

0.37

0.39

58

1.89

2.23

0.52

0.51

59

1.43

1.89

0.39

0.44

59

2.01

2.44

0.55

0.56

60

1.54

2.12

0.42

0.49

60

2.15

2.67

0.59

0.62

61

1.64

2.36

0.45

0.55

61

2.30

2.93

0.63

0.68

62

1.76

2.63

0.48

0.61

62

2.47

3.21

0.68

0.74

63

1.67

2.48

0.46

0.58

63

2.22

2.88

0.61

0.67

64

1.25

1.88

0.35

0.44

64

1.86

2.40

0.51

0.55

65

0.50

0.76

0.14

0.17

65

1.12

1.45

0.31

0.33

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

You may be eligible to transfer your existing death, TPD or income protection insurance cover to TransPersonal from your current super fund or individual life insurer. This means that if you meet the transfer conditions, TransPersonal will match the amount of cover you have under your existing insurance.

The cost of cover and the terms and conditions that will apply to the transferred cover will be those under the Fund’s insurance policy, not those that applied under your old fund or insurance policy. Refer to the fixed cover table at right for the premiums that apply to transferred death or death and TPD cover, and the 30 or 90 day waiting period premium tables on page 40 for transferred income protection cover.

Can I transfer my existing insurance cover?

TABLE 4 – Fixed Cover Premium Table (the premium per week per $10,000 of fixed cover) Death Benefit

TPD Benefit

Age Next Birthday

Group 1

Group 2

Group 1

Group 2

15 – 30

$0.17

$0.08

$0.47

$0.13

31

$0.17

$0.08

$0.48

$0.13

32

$0.18

$0.08

$0.48

$0.14

33

$0.18

$0.08

$0.50

$0.14

34

$0.19

$0.08

$0.51

$0.14

35

$0.20

$0.09

$0.53

$0.15

36

$0.20

$0.09

$0.56

$0.15

$0.59

$0.16

37

$0.22

$0.09

You are generally eligible to transfer existing cover if you meet the following conditions:

38

$0.23

$0.10

$0.62

$0.16

39

$0.24

$0.10

$0.65

$0.17

• Your existing insurance cover was in place before your TransPersonal insurance cover commenced;

40

$0.25

$0.10

$0.69

$0.18

• You agree to cancel your existing insurance cover within 60 days of receiving confirmation that your transfer of cover has been accepted;

41

$0.27

$0.11

$0.73

$0.18

42

$0.28

$0.11

$0.77

$0.19

43

$0.30

$0.12

$0.81

$0.20

• You have not made a TPD claim under any other insurance policy and you are not eligible to make a claim in the future;

44

$0.31

$0.12

$0.84

$0.21

• You have not been diagnosed with an illness that would reduce your life expectancy to less than 12 months;

45

$0.31

$0.13

$0.86

$0.22

46

$0.33

$0.13

$0.90

$0.23

• You are working at the time you apply for transfer cover;

47

$0.34

$0.14

$0.93

$0.24

• You can provide evidence of your existing cover; and

48

$0.35

$0.15

$0.95

$0.25

• You complete the Insurance transfer: TWUSUPER and divisions form.

49

$0.36

$0.15

$0.99

$0.27

50

$0.37

$0.16

$1.02

$0.28

How to apply to transfer your existing cover

51

$0.39

$0.17

$1.05

$0.30

Contact the Customer Service Team on 1800 222 071 to request a copy of the Insurance transfer: TWUSUPER and divisions form or download a copy from www.twusuper.com.au

52

$0.40

$0.19

$1.10

$0.32

53

$0.43

$0.20

$1.16

$0.34

54

$0.45

$0.21

$1.23

$0.37

Example George is 46 years old. He is a Group 1 member for insurance purposes. George has death cover with his old super fund, and wants to transfer this additional cover to TransPersonal so he can close his old account.

George has an additional $300,000 death cover with his old fund.

Cost: Looking at Table 4, Fixed Cover Premium (at right1), the weekly premium for $10,000 of death cover for a Group 1 member turning 47 next birthday is $0.34.

If George meets all the conditions and requirements to transfer his cover into TransPersonal, he will pay a weekly premium of $10.20 or 30 x $0.34 for $300,000 of additional death cover.

Premiums for transferred cover will generally increase with age.

55

$0.48

$0.23

$1.30

$0.40

56

$0.51

$0.25

$1.39

$0.44

57

$0.55

$0.28

$1.49

$0.48

58

$0.59

$0.31

$1.61

$0.54

59

$0.64

$0.35

$1.74

$0.61

60

$0.69

$0.40

$1.89

$0.70

61

$0.76

$0.44

$2.17

$0.80

62

$0.83

$0.48

$3.14

$1.15

63

$0.91

$0.53

$5.18

$1.91

64

$1.01

$0.58

$11.35

$4.18

65

$1.06

$0.61

$25.14

$9.16

66

$1.15

$0.66

67

$1.24

$0.72

68

$1.37

$0.79

69

$1.48

$0.86

70

$1.61

$0.94

07 INSURANCE TO SUIT YOU

Transfer your existing cover

41

Making an insurance claim If you or your dependants make a successful claim, your insurance benefit will be paid in one of the following ways: • A death benefit will be paid to one or more of your beneficiaries.

• A terminal illness benefit will be paid to you.

• A TPD benefit will be paid to you.

An insurance benefit is paid in addition to any super that you may be able to withdraw from your super account on your death, terminal illness or total and permanent disablement.

How to make a claim To claim a death, terminal illness or TPD benefit, you (or in the case of a death benefit, your dependants) should contact the Customer Service Team on 1800 222 071. They will send you the necessary paperwork and explain the claims process.

Personal health information If you make a claim, your health and other personal information may be disclosed to the insurer, medical practitioners, claims investigators, reinsurers, the insurance reference bureau, legal advisers or any other experts that we or the insurer may nominate.

Immediate part payment of a death benefit If you die, TransPersonal may provide an immediate payment of $3,000 out of your voluntary death or voluntary death and TPD benefit to help your dependants meet the costs that arise on your death, such as funeral expenses.

Call the Customer Service Team on 1800 222 071 for more information about immediate part payment of a death benefit.

Terminal illness claims Terminal illness means that you suffer from a sickness which a Medical Practitioner (who specialises in the sickness) certifies in writing will lead to your death within twelve months of the date of the certification.

42

In addition, the insurer must be satisfied that despite reasonable medical treatment the sickness will lead to your death within twelve months of the certification.

For a terminal illness insurance benefit payment to be made tax-free, the following circumstances must be met: • two registered medical practitioners must certify, jointly or separately, that the member suffers from an illness, or has incurred an injury, that is likely to result in the death of the member within 12 months of the certification (certification period); • at least one of the registered medical practitioners must be a specialist practising in an area related to the illness or injury suffered by the member; and • for each of the certifications, the certification period has not ended.

TPD claims The assessment of a TPD claim involves the collection and assessment of medical and other evidence. This may mean in some cases that a decision is not able to be made until some 12–18 months after you last worked or even longer in some cases.

Total and Permanent Disablement means that as a result of sickness or injury, you either: A. suffer: 1. total and permanent loss of use of two limbs, or 2. blindness in both eyes, or 3. total and permanent loss of use of one limb and blindness in one eye.

Where: limb means the whole hand below the wrist or whole foot below the ankle; and blindness means the permanent loss of sight to the extent that visual acuity is 6/60 or less, or to the extent that the visual field is reduced to 20 degrees or less of arc.

physical assistance of another person any two of the following Activities of Daily Living: Dressing – i.e. the ability to put on and take off clothing Toileting – i.e. the ability to use the toilet, including getting on and off Mobility – i.e. the ability to get in and out of bed and on and off a chair Continence – i.e. the ability to control bowel and bladder function Feeding – i.e. the ability to get food from a plate into the mouth, and you are permanently and irreversibly unable to do so for life.

OR C. have been absent from all employment for six consecutive months from the date of disablement and the insurer considers, on the basis of medical and other evidence satisfactory to the insurer, you are unlikely ever to be able to engage in any occupation, whether or not for reward.

Please note this definition of TPD will not apply to you if, at any time after ceasing employment with your employer, you are not employed for a period of twelve or more consecutive months and you do not, after this period of unemployment, return to active employment for two consecutive months.

For this purpose, active employment means you are employed by an employer to carry out identifiable duties, are actually performing those duties and in the opinion of the insurer are not restricted by injury or sickness from being capable of performing those duties on a full-time basis and the duties of your normal occupation on a full-time basis (even if not then working on a full-time basis).

OR D. have all of the following paragraphs (i), (ii), (iii) and (iv) apply to you:

OR

(i) on the date of disablement, you were aged 64 years or less;

B. have for six consecutive months from the date of disablement been totally unable to perform without the

(ii) you were absent from all work as a result of suffering cardiomyopathy, primary pulmonary hypertension,

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

(iii) on the basis of medical and other evidence satisfactory to the insurer, you are unlikely ever to be able to engage in any occupation, whether or not for reward; and (iv) you are likely to be disabled for life; Where, for (C) and (D) above: date of disablement means the later of the date you suffer from the sickness or injury that is the principal cause of your disablement and the date you ceased all employment. However, where you participate in a rehabilitation program and you are incapable of returning to employment within twelve months from the date you commenced your absence from employment, the date of disablement will be the date that would have applied if you had not participated in the rehabilitation program, occupation means an occupation that you can perform, on a full-time or part-time basis, based on the skills and knowledge you have acquired through previous education, training or experience. An occupation will also include any reasonable alternative occupation you engaged in for six months or more at any time.

1. Please refer to the Policy Document for a definition of the relevant terms.

Other things you should know Your insurance provider The Trustee has taken out insurance contracts with The Colonial Mutual Life Assurance Society Limited (ABN 12 004 021 809) AFS Licence No. 235035 (‘CommInsure’) to provide insurance for the Fund. The Trustee may change the insurer from time to time.

The Trustee does not guarantee the payment of an insured benefit or the performance of CommInsure.

Information about the insurance cover made available through this PDS is based on the Policy Documents provided by the insurer. While every care has been taken in the preparation of this PDS, the Policy Documents held with CommInsure will prevail in all disputes.

Conditions apply to your insurance cover Like most forms of insurance, there are certain conditions and exclusions that apply to the granting, or payout, of your insurance cover. The main features that apply to the insurance cover available through TransPersonal are set out in this section. An insurance benefit is only payable if the terms of the insurance contract are satisfied. Any insurance benefit received by the Trustee from CommInsure is paid to you only in accordance with the Fund’s trust deed.

There are a number of circumstances set out in this Insurance Cover section where you may not be eligible for a particular level or type of insurance cover or your cover may cease. You need to be aware that you will not have insurance cover for any period when such circumstances apply, even if you have had insurance charges deducted from your super account. However, any overpaid death, terminal illness or, if applicable, TPD insurance charges will be re-credited to your super account.

That is why it is very important that you let TransPersonal know if you are, or become, ineligible for a particular level or type of insurance cover.

Maximum cover You can apply to insure yourself for up to a total of $5 million of death cover and a total of $2 million of TPD cover.

This limit is the total amount of voluntary death cover and voluntary death and TPD cover that you may have as a member of TransPersonal regardless of how many divisions of TWUSUPER you belong to.

Note that the total of your TPD cover cannot be more than the total of your death cover.

Increase in costs of cover The insurer may increase the cost of any insurance cover offered by TransPersonal. We will provide you with at least 30 days prior written notice where this occurs.

Interim accidental death cover While your application for voluntary death cover is being assessed by the insurer, you will be provided with interim accidental death cover at the level of cover being sought (to a maximum of $1 million, less the amount of death cover already in place). This interim accident cover will continue until the application for insurance is either accepted or declined, the request for cover is withdrawn or 60 days has expired, whichever is earlier.

When your cover ends Your insurance cover will end on the earliest of any one of the following events occurring: • the day you cease to be a member of TransPersonal; • the day you turn 70 in the case of voluntary death and terminal illness cover; • the day you turn 65 in the case of voluntary TPD and income protection cover;

07 INSURANCE TO SUIT YOU

major head trauma, motor neurone disease, multiple sclerosis, muscular dystrophy, paraplegia, quadriplegia, hemiplegia, diplegia, tetraplegia, dementia and Alzheimer’s disease, Parkinson’s disease, blindness, loss of speech, loss of hearing, chronic lung disease or severe rheumatoid arthritis1;

• the last Friday of the month on which there is insufficient money in your account to pay the insurance charges for the following month;

43

• your death or the day the insurer agrees to pay a terminal illness benefit or TPD benefit in respect of you; • the day you join any armed forces (other than the Australian Armed Forces Reserve); • (in the case of voluntary insurance cover) the day TransPersonal receives written notice from you to opt out of voluntary insurance cover; • (in the case of income protection insurance cover) the day TransPersonal receives written notice from you to opt out of income protection insurance cover; or • the day the Trustee discontinues the relevant voluntary death, terminal illness or TPD cover or income protection cover for members.

Worldwide cover Cover is available outside Australia for a maximum of thirteen weeks unless agreed in writing with the insurer before you leave Australia. You should call the Customer Service Team on 1800 222 071 if you are travelling overseas for an extended period.

If the insurer agrees to cover you for the period in excess of thirteen weeks, it may apply conditions to the cover.

Exclusions

Check your insurance cover

Circumstances where death, terminal illness or TPD benefits will not be payable

It is important that you ensure your account balance is sufficient to cover your premiums each month, or your insurance will lapse. We accept no responsibility or liability for ensuring your insurance cover does not lapse due to you not maintaining sufficient funds to pay premiums or for informing you if your cover has lapsed or will lapse.

The insurer will not pay an insurance benefit for death, terminal illness or TPD which is caused by war outside of Australia. You may not be covered while overseas. Please see the Worldwide cover section above.

Circumstances where income protection insurance benefits will not be payable There are some circumstances where an income protection insurance benefit will not be payable. Income protection insurance benefits will not be payable if your sickness or injury is caused directly or indirectly from: • your service in the armed forces of any country; • any war or act of war (whether declared or not), revolution, invasion, rebellion or civil uprising; • any self-inflicted act, whether or not you were sane at the time; or • normal pregnancy or childbirth.

Where ‘normal pregnancy or childbirth’ means normal and uncomplicated pregnancy or childbirth, including multiple pregnancy, caesarean birth, threatened miscarriage, participation in in-vitro fertilisation or other medically assisted fertilisation techniques and normal discomforts of pregnancy, such as morning sickness, backache, varicose veins, ankle swelling and bladder problems.

While you are outside Australia, an income protection insurance benefit will only be paid for six months in total or such time as agreed by the insurer in writing.

Circumstances where a death benefit will not be payable Members will not be entitled to an insured death benefit if they have previously been paid a terminal illness or TPD benefit.

44

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

It is important to check any statements we send you, to ensure your level of insurance cover is recorded correctly.

The lower of the cover recorded and the cover applied for may be the cover assessed should you make a claim.

If you cease to be eligible for cover and we do not know about this, you may still receive a statement showing a level of cover you are not eligible for and therefore you would be unable to claim in the event of death, terminal illness or disablement. It is important to remain aware of the circumstances under which cover will cease.

If you are in any doubt about your insurance cover with TransPersonal, please contact the Customer Service Team on 1800 222 071.

INSURANCE TO SUIT YOU

07

45

08 WHO GETS YOUR SUPER IF YOU DIE? For legal and practical reasons, it is up to the Trustee to decide who your super is paid to if you die.

To help the Trustee make this decision, it is in your interest to nominate your beneficiary or beneficiaries when you complete your Membership application form.

Every time your personal circumstances change, you should update your beneficiaries.

You may nominate anyone who is defined as a ‘dependant’ or your legal personal representative (‘Estate’).

Dependant definition A ‘dependant’ is currently defined as: • your spouse (including de facto relationships), • your children (including step children and adopted children), • any other person who was wholly or partially financially dependent on you at the time of death, or

46

• any other person with whom the Trustee considers you had an ‘interdependency relationship’ at the time of your death.

An ‘interdependency relationship’ is not one where one person provides domestic support and personal care to the other either:

An ‘interdependency relationship’ is a relationship where two persons:

• under an employment contract or a contract for services, or

• have a close personal relationship, and

• on behalf of another person or organisation such as a Government agency, body corporate or a benevolent or charitable organisation.

• they live together, and • one or each of them provides the other with financial support, and • one or each of them provides the other with domestic support and personal care, or one or each of them provides the other with support and care of a type and quality normally provided in a close personal relationship, rather than by a mere friend or flatmate.

If the two persons have a close relationship but do not meet the other criteria listed above because: • either one or both of them suffer from a disability, or • they are temporarily living apart, they will still be regarded as having an ‘interdependency relationship’.

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

If you have no dependants It is essential that you keep your Will up to date to assist the Trustee in deciding who your super is paid to if you die.

If you have no dependants, the Trustee will pay your benefit to your legal personal representative (your ‘Estate’).

If you also have no legal personal representative, the Trustee has the discretion to pay your benefit to some other person, such as a relative.

Tax and your death benefit There are different tax consequences depending on the beneficiaries who get your benefits — see the Tax and your super section on page 48 for more details. We recommend that you seek professional advice before nominating your beneficiaries.

Other things you should know

Changing your beneficiaries

The Same–Sex Relationships (Equal Treatment in Commonwealth Laws Superannuation) Bill 2008 proposes to amend the law in relation to superannuation for those in same-sex relationships. If the Bill is passed, the definition of spouse is likely to change.

You can change your beneficiaries at any time by completing a Change member details form (available by calling 1800 222 071 or at www.twusuper.com.au).

The Trustee will advise TransPersonal members if the passing of the Bill changes the definition of ‘dependant’ listed on the preceding page.

WHO GETS YOUR SUPER?

08

47

09 tax and your super What follows is a general description of the tax treatment of super, current at the date this PDS was prepared. It aims to give you an overview only, assuming you are an Australian resident. If you are not an Australian resident for income tax purposes different tax rules may apply.

As the tax treatment of super can become complex and may change at any time we strongly recommend that you obtain professional advice about how the tax laws affect you.

This particularly applies if you are considering making large contributions or are approaching retirement.

You should also consider obtaining appropriate advice as you build your super so that you can appropriately plan for your eventual retirement.

48

Tax rules at a glance….

Super is generally taxed at three stages: 1) contributions paid into a super fund, 2) investment earnings of the super fund, and 3) benefits paid from the super fund.

– You pay 15% tax on concessional contributions up to $50,000 (or up to $100,000 until 30 June 2012 for those who are aged 50 or over) – You pay 0% tax on non-concessional contributions up to $150,000 (with some exceptions) – You pay up to 15% tax on investment earnings – You pay 0% tax on super payouts from age 60 (although tax may be payable if your super is paid as a death benefit) - You pay 0% tax on terminal illness benefits. The tax-free treatment will apply to the entire lump sum payment.

– Super is generally taxed when paid before age 60, but some of your payout will be tax-free.

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

The tax paid on super contributions depends on: • the type of contribution — concessional or non-concessional, • the amount of the contribution, and • whether TransPersonal has your TFN. Any tax payable by TransPersonal on your contributions will be deducted from your super account.

Tax deductions for the self-employed If you are self-employed or substantially self-employed (see below), you may be able to claim a tax deduction for 100% of the money you put into your super, subject to the annual contribution limits (explained in the next section).

Deductible contributions are taxed at 15%. Generally, to claim a tax deduction, you must be self-employed or substantially self-employed. This means that if you also work as an employee (which could include work you do as a contractor, such as owner-driver work), you may still be eligible for the deduction, provided that the amount you earn as an employee is less than 10% of your total assessable income.

To claim a tax deduction for your contributions to TransPersonal, first you must tell TransPersonal in writing that you are going to claim your contributions as a tax deduction.

TransPersonal will write back to you and confirm that it has received this information. This must happen before you can claim a tax deduction. You then make your claim for a tax deduction in your annual tax return.

Concessional contributions TransPersonal deducts tax at the rate of 15% on most concessional contributions.

Concessional contributions generally include payments that are made from pre-tax income, including employer contributions and personal contributions on which a tax deduction is claimed.

Contributions tax is charged after relevant fees and insurance premiums have been deducted from your contributions. If a taxable contribution is accepted into TransPersonal, 15% tax will be deducted.

If you do not provide TransPersonal with your TFN, you will not be able to make any personal contributions into your TransPersonal account. Where applicable, if your TransPersonal account was set up before 1 July, 2007, and we do not have your TFN, any employer contributions made after 1 July 2007 are taxed an extra 31.5% once employer contributions exceed $1,000 in a financial year. The tax applies to the whole amount of the employer contribution, including the first $1,000, and is in addition to the usual 15% contributions tax.

If you receive employer contributions, and if you provide your TFN to TransPersonal later, the Fund may be able to reclaim the additional tax paid on your behalf and allocate this to your super account, but generally only additional tax paid in respect of the current financial year and the three previous years can be claimed.

If you leave TransPersonal before any additional tax can be reclaimed from the ATO for employer contributions, your super payout will be reduced. You will not be able to request a refund of this additional tax paid after you have left TransPersonal.

Non-concessional contributions Non-concessional contributions are generally tax-free, however an annual non-concessional contribution limit of $150,000 applies. Read on to find out more about the non-concessional contribution limit.

Concessional contribution limits and tax Concessional contributions are taxed at 15% up to an annual limit of $50,000.

This limit is applicable for 2008/09 and is indexed from 1 July each year to Average Weekly Ordinary Time Earnings (AWOTE) in increments of $5,000.

The annual concessional contributions limit is $100,000 for any financial year between 1 July 2007 and 30 June 2012 during which a member is aged 50 or more. For example, if a member turns age 50 on 4 November 2009, their annual limit will be $100,000 for the financial years ending 30 June 2010, 2011 and 2012. This transitional $100,000 amount will not be indexed.

Why we need your Tax File Number Your Tax File Number (TFN) is important – if TransPersonal does not have your TFN, you will, as a new member, pay 31.5% extra tax on all employer contributions, and the Fund can not accept any voluntary (personal) contributions from you.

Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes.

These purposes may change in the future as a result of legislative change. TransPersonal may disclose your TFN to another superannuation provider when your benefits are being transferred, unless you request in writing that your TFN not be disclosed to any other superannuation provider.

It is not an offence not to quote your TFN. However giving your TFN to your superannuation fund will have the following advantages (which may not otherwise apply): • your superannuation fund will be able to accept all types of contributions to your account/s; • the tax on contributions to your superannuation account/s will not increase; • other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your superannuation benefits; and • it will make it much easier to trace different superannuation accounts in your name so that you receive all your superannuation benefits when you retire.

Any concessional contributions over the annual limit will attract additional tax of 31.5% on top of the 15% contributions tax.

The ATO will determine whether you have exceeded the concessional contributions limit and whether you are liable for any additional tax. If

09 TAX AND YOUR SUPER

Tax on contributions

additional tax is payable, the ATO will issue a tax assessment to you. You can either pay this additional tax yourself, or you can ask TransPersonal, using an ATO Release Authority to pay this additional tax from your super account. If you have already paid the tax yourself, you may ask the Fund to refund to you the amount paid and this will reduce your super account accordingly. Note that it will only be possible for TransPersonal to pay or refund this tax up to the amount in your super account.

The Release Authority must be received

by TransPersonal within 90 days of the issue date. Otherwise, we will not be able to deduct the tax from your account.

The annual concessional contribution limit is a limit per person, not a limit on the amount that applies to each super fund if you are a member of more than one fund.

Any concessional contributions over the limit will also count towards the limit on non-concessional contributions – see Non-concessional contribution limits and tax below.

Non-concessional contribution limits and tax The $150,000 non-concessional contributions limit is three times the level of the concessional contributions limit and will increase as the concessional limit moves with indexation.

If you are under age 65 at any time during a particular financial year, you can ‘bring forward’ two financial years of non-concessional contributions and make total non-concessional contributions of up to $450,000 over a three year period. The ‘bring forward’ limit is three times the non-concessional contributions limit that applies in the first year you elect to bring forward contributions.

The ‘bring forward’ provision is automatically triggered if a person makes a non-concessional contribution in excess of $150,000 in a financial year. Essentially, if a person makes nonconcessional contributions in excess of $150,000 in a financial year, then any further non-concessional contributions they make in the next two financial years will be restricted so that the total

50

non-concessional contributions in the three (financial) year period do not exceed $450,000.

If you are aged 65 or over, a nonconcessional limit of $150,000 applies for each financial year. You cannot bring forward contributions for future years.

To make contributions after age 65 you must meet certain conditions set down in legislation. See the Making contributions section on page 14 for details.

A higher limit of $1,000,000 may apply in certain circumstances, such as where the contribution is made from the proceeds from a settlement for an injury resulting in permanent disablement.

The limit is per person, not a limit on the amount that applies to each super fund if you are a member of more than one fund.

TransPersonal can generally accept amounts up to these limits but where any contribution, taken by itself, exceeds the limits, TransPersonal is required to refund the whole amount. TransPersonal will continue to accept contributions which, by themselves, do not exceed the limits.

This may mean that the total contributions received for you during a financial year will exceed the limits and you may be liable for additional tax.

If your non-concessional contributions exceed these limits, excess contributions will be taxed at 46.5%. The ATO will determine whether you have exceeded the limits and whether you are required to pay any tax. Interest accrues on any tax payable 21 days after the ATO’s determination. You cannot deduct interest payments from your TransPersonal account.

Any tax payable will be levied on you and you must provide the ATO Release Authority to a super fund within 90 days of the date of issue to release money from your super account to pay the tax liability either to the ATO or have TransPersonal reimburse you from your super account.

Tax on the Government co-contribution Government co-contributions (see page 16) are not taxed and do not count towards contribution limits.

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

Tax on investment earnings The investment earnings of super funds are generally taxed at 15%.

The actual rate at which the Trustee pays tax may be reduced below 15%, due to the effect of various tax discounts, credits and rebates. These taxes are deducted from the investment earnings of the Fund’s investment options before calculating the crediting rates to be applied to member accounts.

Tax on transfers out of TransPersonal You pay zero tax when you withdraw your super from TransPersonal for the purpose of transferring it to another Australian complying super fund, or another division of the Fund.

Tax on lump sum payments You may have to pay tax on your super when it is withdrawn from TransPersonal on meeting a condition of release (see page 18). The actual amount of tax you will have to pay depends on: • your age when your withdrawal is made, • the type of withdrawal, and • certain other factors.

The tax payable on lump sum super withdrawals (for reasons other than death) depends on your age and the different components that make up your payout.

Lump sum payment after age 60 You pay no tax on lump sum payments after age 60.

Lump sum payment before age 60 Your lump sum payment will be made up of two components: A tax-free component — this is generally made up of your personal after-tax contributions, spouse contributions and an amount that represents the portion of your benefit built up before 1 July 1983. A higher tax-free amount may apply if you are totally and permanently disabled. You pay no tax on this component.

The tax-free limit is indexed from 1 July each year to Average Weekly Ordinary Time Earnings (AWOTE) in increments of $5,000. The current $145,000 taxfree limit is a lifetime limit applicable to all superannuation payments made after you reach your preservation age, including any payments made before 1 July 2007.

Other things you should know If you take your super before you reach your preservation age, you will pay tax at 20% (plus Medicare Levy) on your total taxable component.

Higher tax rates will generally apply to super payments to a temporary resident who has permanently left Australia.

You should seek professional advice if you are unsure of what (if any) tax you may have to pay on your super withdrawal.

Tax on death benefits If you die while you are a member of TransPersonal, your death benefit (your accumulated super and, if applicable, any insurance benefits) will be taxed according to the status of the recipient.

• If your death benefit is paid to a dependant (as defined for tax purposes): it will be tax free.

• If your death benefit is paid to a non-dependant: it will generally be taxed at 15% plus 1.5% Medicare levy on the taxable component and at zero tax on any tax-free component.

Similarly, if a lump sum payment is made upon your death to your estate for distribution in accordance with your will or the laws of succession, the amount given to a dependant by the estate will be tax free in the estate and to the dependant.

A payment by your estate to a nondependant will generally be taxed at 15% plus Medicare levy on the taxable component of your superannuation benefit, with no tax payable on any taxfree component.

For tax purposes, a child who is 18 years or over and is not in an interdependency relationship with you or is not financially dependent on you is considered a nondependant. They may be nominated to receive your death benefit, however, they will be taxed as a non-dependant.

Tax on Income protection benefits Any monthly income protection benefit paid to you (see page 41) is generally taxed at your PAYG income tax rate.

For more information about tax You can obtain up-to-date information on tax limits and thresholds by calling the Customer Service Team on 1800 222 071.

Tax on pension benefits If you commence: • an Account Based Pension (ABP) after you retire, or • a Transition to Retirement Pension (TRAP) before your retirement, pension payments will be tax-free if you have reached 60 years of age. Tax may be assessed if you are under age 60.

Visit www.transpension.com.au to find out more about the tax rates that apply to superannuation pensions.

Spouse contributions tax offset If your spouse’s income is below $10,800 in a financial year, you may be entitled to a tax offset (or rebate) of 18% for spouse contributions up to $3,000 per annum made by you.

If your spouse’s income is between $10,800 and $13,800 a reduced tax offset applies.

Certain conditions must be met to be eligible for the tax offset, including that you must be living with your spouse, you both must be Australian residents and the contributions were not deductible to you.

A financial adviser can help you decide the most appropriate way for you to make contributions, given your personal needs and circumstances.

The definition of a ‘spouse’ includes your husband or wife or a person who, although not legally married to you, lives with you on a genuine domestic basis as your husband or wife. Spouse does not currently include same sex-partners or partners living separately from you on a permanent basis (although this may shortly change, see page 47).

09 TAX AND YOUR SUPER

A taxable component — this is your super payment, less your tax-free component if applicable. If you take your super as a lump sum benefit after you reach your preservation age but before age 60, you will pay zero tax on the first $145,000 of this component and 15% (plus Medicare Levy) tax on any amount over $145,000.

10 Forms 1. Membership application form

52

2. Application for insurance (plus Comminsure Form A)

Phone TransPersonal on 1800 222 071 or visit www.twusuper.com.au

3. Request to transfer whole balance of superannuation benefits between funds (ATO rollover form and instructions)

Membership application If you have any questions about filling out this form contact our Customer Service Team on 1800 222 071, fax 1300 889 807 or email twusfadmin@aas.com.au

Welcome to TransPersonal, TWUSUPER's division for the self-employed or anyone else who wants to join.

Issued with a PDS

1. Your details (Please use CAPITAL LETTERS and a black pen) Member number (if known)

Mr Mrs Miss Ms Dr

Sex M/F

Date of birth

/

/

Surname

Given names

Street number

Street name

Suburb/Town/City

State

Contact telephone number

Business telephone number

Postcode

Other telephone number

Email address

If you do not want TransPersonal to send you regular email updates, tick this box.

Have you previously been a member of TransPersonal?

YES

Your previous member number

NO

If you answered YES, please provide your member number in the space above (call 1800 222 071 if you don’t know your member number).

2. Your employment details Are you self-employed?

YES

NO

If Yes, what is the name of your employer?

Date you started as an employee/contractor

/ Street/PO Box number

/

Street name

Suburb/Town/City

State

Postcode

Telephone number

3. Your investment choice As a member of TransPersonal, you can choose the way your super is invested once your account balance exceeds $1,000.

Your super is automatically invested in our Balanced investment option until you make an investment choice.

For more information about TransPersonal's investment options (Cash Plus, Balanced and Equity Plus) please read the Your investment options section of the TransPersonal Member Information Booklet.

TZ/MEM/APP/PERS 112.4 11/08 ISS8

TWUS 28787

112.4 1108 8 1

4. Your preferred beneficiaries Beneficiaries are the people you want to receive your super if you die while you are a member of TransPersonal.

Under the law, only dependants can be nominated as beneficiaries. A Dependant is currently defined as your spouse (including de facto relationships), children, someone who is wholly or partially financially dependent on you, or someone with whom you have an interdependency relationship.

This nomination is not binding. The Trustee makes the final decision on who receives your benefit if you die while a member of the Fund.

First person’s full name

Mr Mrs Miss Ms Dr

Sex M/F

Date of birth

/ Street number

/

Street name

Suburb/Town/City

State

Postcode

Relationship to you

How much?

% Second person’s full name

Mr Mrs Miss Ms Dr

Sex M/F

Date of birth

/ Street number

/

Street name

Suburb/Town/City

State

Postcode

Relationship to you

How much?

% Total = 100%

You can nominate more beneficiaries by attaching their details on a separate signed sheet. Make sure that you include all the information requested above and that the total allocation of your super adds up to 100%.

1 0 0

5. Your TFN Why we need your TFN Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes.

These purposes may change in the future as a result of legislative change. The trustee of your superannuation fund may disclose your TFN to another superannuation provider when your benefits are being transferred, unless you request the trustee of your superannuation fund in writing that your TFN not be disclosed to any other superannuation provider.

I agree to provide my tax file number under the conditions stated above.

It is not an offence not to quote your TFN. However, giving your TFN to your superannuation fund will have the following advantages (which may not otherwise apply): • your superannuation fund will be able to accept all types of contributions to your account/s; • the tax on all employer contributions to your superannuation account/s will not increase; • other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your superannuation benefits; and • it will make it much easier to trace different superannuation accounts in your name so that you receive all your superannuation benefits when you retire.

My TFN is Signature

Date

/

112.4 1108 8 2

/

%

6. Spouse or Third Party Authority (optional) Complete this section to give another person authority to either give instruction, or obtain information about your TransPersonal account.

I hereby authorise the person or company below to: obtain information about my TransPersonal account AND/OR (tick one or both boxes) act on my behalf by giving instructions about my TransPersonal account I understand that this authorisation will remain in force until revoked in writing by me.

Name of person

Relationship to you

Name of company (if applicable)

Street number

Street name

Suburb/Town/City

State

Postcode

Personal information The personal information that TransPersonal collects is used to administer and correspond with you in relation to your super account, process your application and request, pay your benefits under TransPersonal and conduct research about how to improve TransPersonal's services and products. TransPersonal may arrange to provide other services to you. These services may include information on other products. The Fund may arrange for a financial planner to contact you to offer to assist you with your financial planning in relation to your superannuation. The Fund may arrange for a service provider or the Australian Tax Office (ATO) to cross-match your personal details with other superannuation funds to help locate any other superannuation accounts in your name. If you choose not to give us your personal information, or provide us with incomplete or inaccurate personal information, we may not be able to provide you with all the benefits of TransPersonal and may not be able to process your claim or pay the benefit.

Unless required or authorised by law, we will only provide your personal information to authorised advisers, service providers, such as the insurer or the Fund’s administrator, or government agencies that use the information to administer your account and provide services to you or to the Trustee relating to your TransPersonal account.

You are able to gain access to your personal information or get a copy of the Fund's Privacy Policy by asking for it. If you would like to request access to the personal information we hold about you, or want further information on how we handle personal information, please contact the Trustee (TWU Nominees Pty Ltd) at the address on this form.

Direct marketing From time to time, the Fund may send members communication material also known as direct marketing material (including marketing material from third parties) about special offers and promotions which are available to members of TransPersonal only. If you do not want the Fund to use your personal information to send you direct marketing material, tick this box:

Read and sign I declare that: • I have read and carefully considered the questions in the Membership application form and all answers provided on this form are true and correct • I am aware of the terms and conditions for insurance cover (including defined terms) as summarised in the Member Information Booklet and acknowledge that the terms and conditions apply to me • I agree to the collection, use and disclosure of my personal information by the insurer as set out under the heading ‘Protecting your privacy’ in the Member Information Booklet.

Signature

Date

/

/

Send your completed form to: TransPersonal, Locked Bag 5094, Parramatta NSW 2124 or fax it to 1300 889 807.

112.4 1108 8 3

55

Issued by TWU Nominees Pty Ltd ABN 67 002 835 412, AFSL No 239163.

TWU Nominees Pty Ltd is the trustee of TWUSUPER (ABN 77 343 563 307).

TransPersonal is a division of TWUSUPER.

This page has been left blank intentionally

Application for insurance Complete this form if you want to:

Please read the Insurance section of the TransPersonal Member Information Booklet (PDS) in full before completing this form.

• Apply for death or death and TPD insurance cover • Apply for income protection insurance cover You must also complete a CommInsure form to provide evidence of your health when applying for insurance cover. See page 3 of this form for more information.

If you have any questions about filling out this form please call our Customer Service Team on 1800 222 071 or email twusfadmin@aas.com.au

Your details (Please use CAPITAL LETTERS and a black pen) Member number (if known)

Mr Mrs Miss Ms Dr

Sex M/F

Date of birth

/

/

Surname

Given names

Street number

Street name

Suburb/Town/City

State

Contact telephone number

Business telephone number

Postcode

Other telephone number

Email address

Your employment details YES

Are you self-employed?

NO

If Yes, what is the name of your employer?

Date you started as an employee/contractor

/ Street number

/

Street name

Suburb/Town/City

State

Postcode

Telephone number

Job category Your job category determines how much cover you will receive and how much that cover costs. The following questions will help us determine which job category applies to you.

Occupation (please describe briefly e.g. contract courier, office worker)

Average number of hours worked per week

Main duties performed

For at least the last 12 consecutive months, have you worked at least 75% of your time in an office environment without manual duties?

YES

OR

You are a Group 2 category member

NO You are a Group 1 category member

If you have answered NO to this question, but believe you qualify as a Group 2 category member, please complete our Application to change insurance group form and submit it with this application.

TZ/APP/GRP/RISK/INS 375.5 11/08 ISS5

TWUS 28788

375.5 1108 5 1

What are you applying for?

1. Death or death and TPD cover Complete this section if you want to top up your insurance cover by applying for death and/or death & total and permanent disablement (TPD) insurance cover.

Please read the insurance section of the TransPersonal Member Information Booklet for the voluntary cover premiums that apply to your age and job category.

You can apply for up to $5,000,000 voluntary death cover and up to $2,000,000 TPD cover.

Voluntary death cover ceases at age 70 Voluntary TPD cover ceases at age 65 Unit Value Death (including terminal illness) Total and Permanent Disablement

Applying for death cover:

$10,000 cover per unit $10,000 cover per unit AND / OR

How many units?

Applying for TPD cover: How many units?

OR

OR

What amount of cover?

What amount of cover?

$

$

,

0,000

,

0,000

Total TPD cover cannot exceed the value of total death cover.

2. Income protection cover Complete this section if you want to apply for income protection insurance cover.

Please read the Insurance section of the Member Information Booklet for more information about income protection cover and the premiums that apply to your age, job category, gender and waiting period.

If your claim is accepted, your income protection benefit will be paid monthly. The benefit you apply for must be more than $1,000 per month and less than $25,000 per month.

Choose your monthly benefit

$

,

00 (must be a multiple of $100)

Note that the maximum benefit payment you are eligible to receive is the lowest of 75% of your pre-disability income, your agreed value of income protection cover or the $25,000 maximum monthly benefit limit.

Choose your waiting period If you make a successful income protection claim, benefit payments will start after your waiting period has expired. Higher premiums apply for a 30-day waiting period.

30 days 90 days A 30-day waiting period will apply if you do not select a waiting period.

375.5 1108 5 2

Read and sign I declare that: • I have read and carefully considered the questions in the Application for additional insurance form and all the answers provided within this form are true and correct.

• I have read and understood the Product Disclosure Statement and Financial Services Guide (Member Information Booklet) to which this application is related.

• I am aware of the terms and conditions for insurance cover (including defined terms) as summarised in the Member Information Booklet and acknowledge that the terms and conditions apply to me.

• I agree to the collection, use and disclosure of my personal information by the insurer as set out under the heading ‘Protecting your privacy’ in the TransPersonal Member Information Booklet.

Signature (please sign here)

Date

/

/

END OF PART ONE

You must now complete and sign part two of the Application for additional insurance.

Part two is a CommInsure form. The correct form depends on the amount of cover you are applying for.

CommInsure Short personal statement (FORM A)

OR

CommInsure Full personal statement (FORM B)

Complete this form if you are:

Complete this form if you are:

• Applying for up to $800,000 death and/or TPD cover

• Applying for more than $800,000 death and/or TPD cover

and/or

and/or

• Applying for up to $6,000 per month income protection cover

• Applying for more than $6,000 per month income protection cover

If you do not have a copy of these forms please call our Customer Service Team on 1800 222 071 or download a copy from www.twusuper.com.au

Send your completed part one (this form) and part two (CommInsure short or full personal statement) together with any supporting documents, to: TransPersonal, Locked Bag 5094, Parramatta NSW 2124 375.5 1108 5 3 Issued by TWU Nominees Pty Ltd ABN 67 002 835 412, AFSL No 239163.

TWU Nominees Pty Ltd is the trustee of TWUSUPER (ABN 77 343 563 307).

TransPersonal is a division of TWUSUPER.

This page has been left blank intentionally

Short Personal Statement (Form A) Complete this form if you are applying for Death only, Death and TPD or Income Protection cover for amounts: • less than and including $6,000 per month for Income Protection cover; and/or • less than and including $800,000 for Death only or Death and TPD cover.

If the cover applied for does not fall into the above range, please complete Full Personal Statement (Form B).

Please carefully read the information in the PDS before completing this Short Personal Statement (Form A).

A - Your details

4

Membership number

Have you lost the sight of an eye or the total and permanent loss of the use of a limb (‘limb’ includes whole hand or whole foot)?

No

Surname

5

Yes Please provide the following details: Height

Given name/s

cm or

ft/ins

kg or

st/lbs

Weight Date of birth /

/

6

B - Personal health details If you answer ‘Yes’ to any of the questions below, please do not continue completing this form. Instead, complete the Full Personal Statement (Form B).

1

Has an application for life, disability, trauma, accident or sickness insurance on your life ever been declined, deferred or accepted with a loading, exclusion or special terms?

No 7

No Yes 2

Are you claiming or have you ever claimed a benefit from any source, eg. TPD benefit from any superannuation fund, worker’s compensation, disability pension, Veterans’ Affairs pension or any other insurance policy providing accident or sickness benefits?

8

Are you at the date of this application, due to injury, accident or illness: a off work?

No Yes b restricted from being capable of performing your full and normal duties on a full-time basis (for at least 30 hours per week), even though your actual employment can be on a full-time, part-time or casual basis?

No Yes

Yes Have you been unable to work because of sickness or injury for more than two consecutive weeks in the last three years?

No

No Yes 3

Excluding the contraceptive pill and inhaled asthma medication, have you been advised to take, or been given prescribed medication by a medical practitioner that has intended to be used for three months or longer within the last year (including but not limited to blood pressure, diabetes, oral steroids for asthma or depression medication)?

Yes Have you undergone any medical treatment, investigation or an operation, suffered from or are you contemplating surgery for any illness or injury that would affect your longterm health and require ongoing medical supervision. This includes, but is not limited to: • cancer or diabetes • high blood pressure, cholesterol or any heart complaint • alcohol or drug abuse • stroke, paralysis, neurological disorder or multiple sclerosis No

9

Yes Have you been infected with, or have you ever tested positive for AIDS (Acquired Immune Deficiency Syndrome), HIV (Human Immunodeficiency Virus) or hepatitis B and C? No Yes

Page of 2 CI262 020507

CommInsure is a registered business name of The Colonial Mutual Life Assurance Society Limited ABN 2 004 02 809 AFSL 235035 (CMLA)

10 Have you received any medical advice, or undergone any medical treatment, investigation or an operation, suffered from or are you contemplating surgery, for any of the following: a Any injury or complaint of the back, neck, knee or shoulder requiring time off work in the last twelve months and/or any disease, disorder or degeneration to the muscles, tendons, bones, discs or joints?

No Yes b Depression or mental disorder (including but not limited to stress, anxiety, chronic tiredness or fatigue, panic attacks, post traumatic stress, behavioural or nervous disorder)?

No c

Yes Chest pain, asthma, bronchitis or any other lung complaint requiring hospitalisation within the last five years?

No

Yes d Disorders of the kidney, bladder, prostate, ovaries, gall bladder, bowel, or liver?

No e

Yes Epilepsy?

No Yes

C - Duty of disclosure Before you enter into, or become insured, under a contract of life insurance with an insurer, you have a duty under the Insurance Contracts Act 984, to disclose to the insurer every matter that you know, or could reasonably be expected to know, is relevant to the insurer’s decision whether to accept the risk of the insurance and, if so, on what terms.

You have the same duty to disclose those matters to the insurer before you extend, vary or reinstate your insurance. Your duty, however, does not require disclosure of a matter: • that diminishes the risk to be undertaken by the insurer

D - Declaration This section must be completed in all circumstances.

I have read the Duty of disclosure in Section C of this Personal Statement and I am aware of the consequences of nondisclosure.

I understand that the Duty of disclosure continues after I have completed this statement until my application for cover has been accepted by The Colonial Mutual Life Assurance Society Limited ABN 2 004 02 809 (CMLA) in writing.

I authorise: • the insurer to refer any statements that have been made in connection with my application for cover and any medical reports to other entities involved in providing or administering the insurance (for example reinsurers, medical consultants, legal advisers) • the insurer and any person appointed by the insurer to obtain information on my medical claims and financial history from the Insurance Reference Association and any other body holding information on me.

I declare that: • the answers to all the questions and the declarations on this Personal Statement are true and correct (including those not in my own handwriting) • I have not withheld any information which may affect CMLA’s decision to provide insurance.

I acknowledge that the answers I have provided, together with any special conditions, will form the basis of the contract of insurance.

I have read and understood the Privacy section of the PDS. I acknowledge and consent to the use and disclosures of my personal information as detailed in that section.

Full name Signature of life to be insured

✗ Date /

/

• that is of common knowledge • that your insurer knows or, in the ordinary course of its business, ought to know or • as to which compliance with your duty is waived by the insurer.

Non-disclosure If you fail to comply with your Duty of disclosure and the insurer would not have covered you on any terms if the failure had not occurred, the insurer may avoid the cover within three years of issuing it. If your non-disclosure is fraudulent, the insurer may avoid your cover at any time.

An insurer who is entitled to avoid your cover may, within three years of issuing it, elect not to avoid it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the premium that would have been payable if you had disclosed all relevant matters to the insurer.

CI262 020507

Page 2 of 2

Request to transfer whole balance of superannuation benefits between funds PLEASE TEAR HERE

under the Superannuation Industry (Supervision) Act 1993 COMPLETING THIS FORM ■ ■ ■

AFTER COMPLETING THIS FORM

Read the important information pages Refer to instructions where indicated with a This form is only for whole (not part) balance transfers.

■ ■

Sign the authorisation Send form and certified proof of identity documents to either your FROM or TO fund.

Personal details Title:

Mrs

Mr

Miss

Ms

Other

Residential address *Address

*Family name *Given names

*Suburb

Other/previous names

*Postcode

*State/territory Day

Month

Year

*Date of birth Tax file number Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your tax file number, but there may be tax consequences.

Previous address If you know that the address held by your FROM fund is different to your current residential address, please give details below.

Address

See ‘What happens if I do not quote my tax file number?’

*Gender

Suburb Male

Female

Postcode

State/territory

*Contact phone number

Fund details FROM

TO

*Fund name

*Fund name

Fund phone number

*Fund phone number

Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN)

*Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN)

If you have multiple account numbers with this fund, you must complete a separate form for each account you wish to transfer.

*Proof of identity

TransPersonal 1 8 0 0 2 2 2 0 7 1

77 343 563 307 TWU0002AU

You must check with your TO fund to ensure they can accept this transfer.

See ‘Completing proof of identity’

I have attached a certified copy of my driver’s licence or passport OR I have attached certified copies of both: Birth/Citizenship Certificate or Centrelink Pension Card AND Centrelink payment letter or Government or local council notice (<1 year old) with name and address

Authorisation By signing this request form I am making the following statements: ■ I declare I have fully read this form and the information completed is true and correct ■ I am aware I may ask my superannuation provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and do not require any further information.

■ If the TO fund is a self managed superannuation fund (SMSF), I confirm that I am a member, trustee or director of a corporate trustee of the SMSF. ■ I discharge the superannuation provider of my FROM fund of all further liability

in respect of the benefits paid and transferred to my TO fund.

*Name (Print in BLOCK LETTERS) *Signature

Day

Month

Year

*Date

I request and consent to the transfer of superannuation as described above and authorise the superannuation provider of each fund to give effect to this transfer. * Denotes mandatory field. If you do not complete all of the mandatory fields, there may be a delay in processing your request.

JS 6676-03.2007

IN-CONFIDENCE – when completed

Page 3

This page has been left blank intentionally

Completing the request to transfer whole balance of superannuation benefits between funds form By completing this form, you will request the transfer of the WHOLE balance of your superannuation benefits between funds.

This form can NOT be used to transfer part of the balance of your superannuation benefits.

This form will NOT change the fund to which your employer pays your contributions. The Standard Choice Form must be used by you to change funds.

BEFORE COMPLETING THIS FORM

n Read

the important information below. n Check that the fund you are transferring your benefits TO can accept this transfer.

WHEN COMPLETING THIS FORM n Refer

to these instructions where a question shows a message like this: n Print clearly in BLOCK LETTERS.

AFTER COMPLETING THIS FORM n Sign

the authorisation. the appropriately certified proof of identity documents. n Review the checklist below. n Send the request form to your fund. n Attach

THINGS YOU NEED TO CONSIDER WHEN TRANSFERRING YOUR SUPERANNUATION

When you transfer your superannuation, your entitlements under that fund may cease. You need to consider all relevant information before you make a decision to transfer your superannuation.

If you ask for information, your superannuation provider must give it to you. Some of the points you may consider are: n Fees – your FROM fund must give you information about any exit or withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees as well as exit or withdrawal fees.

Your TO fund may also charge entry or deposit fees on transfer.

Differences in fees funds charge can have a significant effect on what you will have to retire on. For example, a 1% increase in fees may significantly reduce your final benefit. and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have. Other funds may not offer insurance, or may require you to pass a medical examination before they cover you. When considering a new fund, you may wish to check the costs and amount of any cover offered.

n Death

IMPORTANT INFORMATION This transfer may close your account (you will need to check this with your FROM fund).

This form can NOT be used to: n transfer part of the balance of your superannuation benefits n transfer benefits if you don’t know where your superannuation is n transfer benefits from multiple funds on this one form – a separate form must be completed for each fund you wish to transfer superannuation from n change the fund to which your employer pays contributions on your behalf n open a superannuation account, or n transfer benefits under certain conditions or circumstances, for example if there is a superannuation agreement under the Family Law Act 1975 in place.

CHECKLIST Have you read the important information?

Have you considered where your future employer contributions will be paid?

Have you checked your TO fund can accept the transfer?

Have you completed all of the mandatory fields on the form?

Have you signed and dated the form?

Have you attached the certified documentation including any linking documents if applicable?

WHAT HAPPENS IF I DO NOT QUOTE MY TAX FILE NUMBER (TFN)?

You are not obligated to provide your TFN to your superannuation fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate plus the Medicare levy on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund may deduct this additional tax from your account.

If your superannuation fund does not have your TFN, you will not be able to make personal contributions to your superannuation account. Choosing to quote your TFN will also make it easier to keep track of your superannuation in the future.

Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another superannuation provider, when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other trustee.

TRANSFERS TO SELF MANAGED SUPERANNUATION FUNDS

You may use this form to transfer your benefits to your own self managed superannuation fund (SMSF).

WHAT HAPPENS TO MY FUTURE EMPLOYER CONTRIBUTIONS?

You should be aware that SMSFs are subject to the same rules and restrictions as other funds, when benefits are to be paid out.

In particular, superannuation benefits in a SMSF are required to be ‘preserved’, meaning they are not generally able to be accessed until you are over age 55 and retired.

If you wish to change the fund into which your contributions are being paid, you will need to speak to your employer about Choice. For the appropriate forms and information about whether you are eligible to choose the fund to which your employer contributions are made, visit www.superchoice.gov.au or call the Australian Taxation Office on 13 10 20.

The trustee of your FROM fund may be able to request further information from you about your status as a member, a trustee or a director of a corporate trustee of your SMSF, if there are multiple transfer requests to your SMSF. Penalties may apply for providing false or misleading information.

Using this form to transfer your benefits will not change the fund to which your employer pays your contributions and may close the account you are transferring your benefits FROM.

JS 6676‑03.2007

IN-CONFIDENCE – when completed

Page 1

Completing proof of identity

You will need to provide documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong.

ACCEPTABLE DOCUMENTS

The following documents may be used.

EITHER One of the following documents only: n driver’s licence issued under State or Territory law n passport.

OR One of the following documents: n birth certificate or birth extract n citizenship certificate issued by the Commonwealth n pension card AND issued by Centrelink that entitles the person to financial benefits.

One of the following documents: n letter from Centrelink regarding a Government assistance payment n notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example: – Tax Office Notice of Assessment – Rates notice from local council.

HAvE YOU CHANGED YOUR NAME OR ARE YOU SIGNING ON BEHALF OF ANOTHER PERSON?

If you have changed your name or are signing on behalf of the applicant, you will need to provide a certified linking document.

A linking document is a document that proves a relationship exists between two (or more) names.

The following table contains information about suitable linking documents.

Purpose

Suitable linking documents

Change of name

Marriage certificate, deed poll or change of name certificate from the Births, Deaths and Marriages Registration Office.

Signed on behalf of the applicant

Guardianship papers or Power of Attorney.

CERTIFICATION OF PERSONAL DOCUMENTS

All copied pages of ORIGINAL proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so (see below).

The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualification (eg Justice of the Peace, Australia Post employee, etc) and date.

The following can certify copies of the originals as true and correct copies: n a permanent employee of Australia Post with five or more years of continuous service n a finance company officer with five or more years of continuous service (with one or more finance companies) n an officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having five or more years continuous service with one or more licensees n a notary public officer n a police officer n a registrar or deputy registrar of a court n a Justice of the Peace n a person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia, as a legal practitioner n an Australian consular officer or an Australian diplomatic officer n a judge of a court n a magistrate, or n a Chief Executive Officer of a Commonwealth court.

WHERE DO I SEND THE FORM?

You can send your completed and signed form with your certified proof of identity documents to either fund.

MORE INFORMATION For more information about superannuation, visit the: n Australian Securities and Investments Commission website at www.fido.asic.gov.au, or n Australian Taxation Office website at www.ato.gov.au/super For more information about this form, phone the Australian Taxation Office on 13 10 20.

IN-CONFIDENCE – when completed

Page

Product Disclosure Statement This Product Disclosure Statement (‘PDS’) provides, in simple terms, the main features, benefits costs and risks of investing your money in the Fund, including the investment and insurance options available to you. This will help you to compare the benefits of the Fund with those of other funds offering similar products. It is an important document and should be read carefully.

This PDS also provides a guide to help you to make the decisions you need to make on joining TransPersonal, as well as details about:

Professional independent advisers, such as investment managers, consultants, lawyers and auditors, are appointed by the Trustee to help it fulfil its responsibilities. The Trustee has also appointed a fund administrator and an asset custodian to assist it in its duties. Details of these advisers and service providers are set out in the annual report. Advisers’ fees are paid from the Fund as an expense.

The Fund has a process in place for dealing with enquiries and complaints. Additional help may also be available to members through the Superannuation Complaints Tribunal (‘SCT’). For more information see Enquiries and complaints procedures.

•

fees and charges applying to your superannuation account

For more information, you can contact the SCT on 1300 780 808 or write to:

•

recent investment performance

Superannuation Complaints Tribunal Locked Bag 3060, Melbourne VIC 3001

•

your insurance options, and

•

other useful information.

This PDS may be updated or replaced at any time and you will be provided with the most up-to-date PDS on request, free of charge. If you are printing an electronic copy of this PDS, you must print all pages, including the application forms. A paper copy of this PDS can be obtained by calling the Customer Service Team on 1800 222 071. The information contained is general information only and does not take into account your individual financial objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend that you seek professional advice if you need help in making any investment or financial decision.

The value of your investment in TransPersonal may rise and fall from time to time (as with any superannuation fund).

Neither TWU Nominees Pty Ltd nor any person associated with it guarantees the investment performance of the Fund and its investment options.

Information about the insurance cover made available through this PDS is based on the Policy Documents provided by the insurer, The Colonial Mutual Life Assurance Society Limited (ABN 12 004 021 809) AFSL 235035 (referred to as ‘CommInsure’ or ‘CMLA’). CommInsure is a wholly owned, but nonguaranteed, subsidiary of Commonwealth Bank of Australia (ABN 48 123 123 124) and is the registered business name of CMLA. CMLA’s registered office is Level 7, 48 Martin Place, Sydney NSW 2000.

While every care has been taken in the preparation of this PDS, the Policy Documents held with CommInsure will prevail in all disputes.

The Fund operates as a trust and is managed by a trustee company, TWU Nominees Pty Ltd. The Fund’s assets are kept separate from your employer’s assets.

The Fund is governed by a legal document called the trust deed which includes a set of governing rules. The trust deed provides for the rights, benefits and obligations of all Fund members, as well as the rights, duties and obligations of the Trustee. If there is any disagreement between the terms of the trust deed and this PDS, the trust deed will be the final authority. As a member of TransPersonal, you will be bound by the terms of the trust deed. The trust deed requires the Trustee to comply with the Superannuation Industry Supervision legislation (‘SIS’) which governs superannuation funds. Compliance with SIS means that the Fund is eligible for concessional taxation treatment.

As circumstances change, it may be necessary for the trust deed to be amended. The Trustee can amend the trust deed at any time. However, no amendment made can reduce your super balance accrued up to the date of the amendment without your consent, unless the change is required or allowed by law. You will be advised, in writing, of the nature and effect of any amendment made to the trust deed.

The Board of the Trustee is made up of nine directors, being four directors from the Transport Workers’ Union of Australia, who represent transport workers like you, and four directors nominated by the Australian Road Transport Industrial Organisation, who represent transport employers, as well as an independent chairman.

The Trustee is responsible for making sure: •

your rights and interests as a member of TransPersonal are protected in accordance with the terms of the trust deed,

•

benefits are paid accurately and at the correct time,

•

the Fund’s assets are invested properly, and

•

the overall operation of the Fund is conducted in accordance with the trust deed and relevant legislation.

Information in this PDS is subject to change from time to time. Certain information that is not materially adverse may be updated without issuing a supplementary PDS. Updated information can be obtained free of charge from the Customer Service Team on 1800 222 071 or the website at www.twusuper.com.au. A paper copy of the updated information will be available free of charge on request.

Financial Services Guide TWU NOMINEES PTY LTD. ABN 67 002 835 412, AFSL No 239163, as Trustee of TWUSUPER (ABN 77 343 563 307). TransPersonal is a division of TWUSUPER. Contact Details: Locked Bag 5094, Parramatta NSW 2124 Telephone: 1800 222 071 Financial Services Guide (‘FSG’).

Issued 1 November 2008 SPIN: TWU0002AU The purpose of this FSG is to assist you in deciding whether to use the financial services provided by TWU Nominees Pty Ltd (‘TWU Nominees’) in relation to superannuation interests in the Fund or any other superannuation fund.

This FSG provides information on: •

the services we offer employers, potential members and members,

•

any remuneration or commission which we, our employees or anyone else may receive in relation to the financial services offered,

•

any potential conflict of interest we may have in providing the financial services, and

•

our internal and external dispute resolution procedures, should a member have a complaint, and how to access them.

TWU Nominees is a holder of an Australian Financial Services Licence (‘AFSL’). Under its AFSL, TWU Nominees is licensed to provide the following financial services: •

•

to provide general financial product advice in respect of superannuation. This means that TWU Nominees and its representatives (where permitted by TWU Nominees) are authorised to provide general financial product advice to employers, potential members and members about superannuation, and to deal in superannuation products. This means that TWU Nominees and its representatives (where permitted by TWU Nominees) are authorised to issue, apply for, acquire, vary or dispose of interests in superannuation funds and, in particular, interests in the TransPersonal division of the Fund.

TWU Nominees is the trustee of TWUSUPER, a public offer superannuation fund. TWU Nominees acts in its capacity as trustee of the Fund when it provides these financial services to employers, potential members and members.

TWU Nominees holds professional indemnity insurance cover that satisfies the requirements for compensation arrangements as required by the Corporations Act 2001.

The Fund permits employers to meet their superannuation contribution obligations contained in awards, other industrial agreements and superannuation guarantee requirements by contributing to the Fund and also allows members of the public to join and contribute to the Fund for their retirement.

Account based income stream pension benefits (in TransPension) are also available as you approach retirement or at the time you retire.

In providing you with general financial product advice, we may also be required to provide you with a Product Disclosure Statement (‘PDS’). This is because we are either

proposing that you become a member of TransPersonal or you are already a member and we are required to give you a PDS within three months of you becoming a member. We need to give you all the information you need to know about becoming a member of TransPersonal, including the fees and charges that you will incur and the rights and obligations you have by becoming a member of TransPersonal. All this information is contained in the Product Disclosure Statement part of the Combined FSG and PDS. When TWU Nominees and its employees provide you with general financial product advice, they do not receive any remuneration (such as commission) or other benefits for providing this advice to you.

The amount of salary an employee may receive is not linked in any way to the financial services provided, or any decision made by an employer, potential member or member in respect of the financial services provided, such as any general financial product advice received.

For example, the employee who provides general financial product advice does not receive any benefit, whether the decision is made to become a participating employer or member of TransPersonal or to contribute more money to TransPersonal members.

The Fund’s external service providers may pay incentives to their staff for services provided to TransPersonal members.

Advice may be received about TransPersonal from, or interests in TransPersonal may be sold to members by, financial advisers who are not engaged by us. These persons may receive remuneration or commission for the financial service they provide to employers or members.

However, they are required to give a Financial Services Guide which must disclose the level of remuneration or commission they may receive. TWU Nominees does not pay commission or pay other benefits to third parties for referring customers to us.

Except where TransPersonal’s external service providers pay incentives to some of their staff, no fee or commission is payable to TWU Nominees, its Directors, employees or third parties when an interest in the Fund is issued (or when the interest is otherwise dealt with). The only benefit TWU Nominees receives for managing the Fund is a fee equal to the directors’ fees that it pays to its directors. The costs and expenses of operating the Fund are paid out of the Fund itself. Details of the costs and expenses of operating the Fund and how these costs and expenses are recouped, such as by way of fees debited to member accounts, are set out in the Product Disclosure Statement.

TWU Nominees does not have any associations or relationships with other entities or persons which may influence the financial services it provides. All the services that TWU Nominees provides are in TWU Nominees’ capacity as trustee of the Fund and, accordingly, this will have some influence on the financial services we provide.

If you have a complaint about the services we provide, you should contact the Fund’s Complaints Officer by: * c alling 1800 222 071 and making the complaint verbally to the Complaints Officer, or * p utting the complaint in writing, writing ‘Notice of Complaint’ on the envelope and addressing it to: The Complaints Officer, TransPersonal Locked Bag 5094, Parramatta NSW 2124 The Trustee prefers written complaints, marked as such, as it helps to better deal with the complaint. If you wish to make a verbal complaint, it must be made to the Complaints Officer on 1800 222 071.

By law, we are required to have in place arrangements to properly consider and deal with complaints within 90 days of receipt. An address to which the response can be mailed should be included. If the outcome is not satisfactory, or the matter cannot be resolved, the matter may be taken to a special Government body called the Superannuation Complaints Tribunal (‘SCT’). Any complaints must be lodged with the SCT within certain time limits. Further information about requirements and time limits can be obtained by calling the SCT on 1300 780 808. Any queries about any of the issues raised above should be directed to the Customer Service Team on 1800 222 071.

Need help with super?

We can come to you We offer our members one-on-one help with their super, for free.

Our Client Relations Team can answer your questions in person, on the phone or at your workplace.

Call our Client Relations Team direct: Michael Galey 02 9912 0730 or 0408 303 611

QLD, WA

VIC, SA, TAS, NT

NSW, ACT Rodney Nyols 02 9912 0710 or 0417 213 063

Lou Stepanoski 03 9635 5963 or 0408 294 937

Stephen Shelton 03 9635 5962 or 0417 203 820

Yvonne Jones 07 3324 0487 or 0418 218 655

Feel like you need to talk to someone?

The odds are that you know someone who is struggling with depression, anxiety, mental health or relationship problems. Sometimes it helps to just know that someone is listening. For confidential and anonymous help call:

Lifeline 13 11 14 | beyondblue 1300 22 4636 | Mensline 1300 78 9978

Contact TransPersonal:

TW/MEM PDS 178.3 11/08 ISS6

TWUS 28945

Locked Bag 5094, Parramatta NSW 2124 Customer Service Team: 1800 222 071 Email: twusfadmin@aas.com.au Web: www.twusuper.com.au