The information in this notice dated 17 December 2021, providesnon-materially adverse updates to the WealthFoundations Super andPension Product Disclosure Statement (PDS), and Additional InformationBrochure (AIB) both issued 14 October 2019. This update is issued byClearView Life Nominees Pty Limited ABN 37 003 682 175 AFSL 227683(CLN) as Trustee for the ClearView Retirement Plan ABN 45 828 721007. It should be read together with the PDS, AIB and InvestmentOptions List (IOL) which are available at clearview.com.au.

About this updateThis document incorporates information regarding the following:

1 Regulatory changes;2 Updates to Adviser service fees;3 Changes to the Fees and costs sections of the PDS and AIB,to comply with the Australian Securities and InvestmentsCommission's (ASIC) Regulatory Guide 97 - Disclosing fees andcosts in PDSs and periodic statements;

4 Update to the LifeSolutions Trustee; and5 Operational updates; and6 Changes to our Complaints Handling Policy to comply withASIC's Regulatory Guide 271 - Internal Disputes Resolutionobligations.

Changes to the PDS (including AIB)1. Regulatory changes

A. Within the Key features table on page 4 of the AIB, replace the textin the pension column of the 'How to access your money' row with thefollowing:

Pension payment: You can elect to receive:

the minimum required amount;the reduced minimum amount (under COVID-19 provisions);the maximum amount (TTR account only); ornominate an amount in between.

Each July we’ll send you information outlining your options for the next12 months. For the 2020/21 and 2021/22 financial years, there is atemporary 50% reduction to minimum payments as introduced by thegovernment under the COVID-19 provisions. Please speak with yourfinancial adviser or contact our Service Centre if you wish to elect thistemporary reduced minimum amount.

Frequency: You can choose to receive your pension paymentstwice-monthly, monthly, quarterly, half-yearly or yearly. These are paidon or before the 15th of each month with an additional payment atthe end of each month for twice-monthly pension payments. Eachpayment is paid electronically to your nominated bank account.

You can request an ad-hoc pension payment or a withdrawal (a lumpsum payment in cash) which will be paid in a similar way. We cannotallow withdrawals for TTR accounts, however we can permit ad-hocpension payments subject to the required minimum and a 10%maximum per annum being met.

You can also request a rollover to another complying super fund.

B. Rename the heading on page 6 of the AIB from 'Requirements ifyou are age 65 or over' to 'Requirements if you are aged 67 or over'.

C. Replace the footnote under the Non-concessional contributionstable on page 7 of the AIB with the below:

1. Non-concessional contributions cannot be made if your total superbalance is equal to or greater than the general transfer balance capat 30 June in the financial year prior to when you wish to make acontribution. This cap is $1.6 million until 30 June 2021 and $1.7 millionfrom 1 July 2021.

Super and PensionUpdate pursuant to ASIC Corporations (Updated Product Disclosure Statements)Instrument 2016/1055Date issued 17 December 2021

D. On page 6 of the AIB, replace the table under the heading 'Whatcontributions can be made?' with the following table:

Contributions acceptedYour age

18 to 64 Personal contributionsAll employer contributionsEligible spouse contributionsGovernment contributionsPersonal injury settlementsCGT contributions1

65 to 66 Personal contributionsAll employer contributionsEligible spouse contributionsGovernment contributionsPersonal injury settlementsCGT contributions1

Downsizer contributions

67 to 74 Mandated employer contributions2

Downsizer contributionsWhere you have met the work test, i.e. been gainfullyemployed during the financial year for at least 40 hoursover a consecutive 30-day period:

Personal contributionsVoluntary employer contributions3

Eligible spouse contributions (up to age 74)Government contributions (up to age 70 forco-contributions)Personal injury settlementsCGT contributions

75+ Mandated employer contributionsDownsizer contributions

1 Capital gains tax (CGT) contributions are a reference to amounts from thedisposal of assets that qualify for the small business CGT exemption.

2 Mandated employer contributions are contributions your employer is requiredby law to make on your behalf. These include super guarantee contributionsand contributions required under an industrial award or a certified agreement.

3 Voluntary employer contributions include salary sacrifice arrangements anddiscretionary super contributions.

E. Replace the ‘Contributions caps’ section on page 8 of the AIB withthe following:

There will be taxation consequences if you exceed a contributioncap. This includes additional tax (up to the highest marginal taxrate) plus Medicare Levy which may be payable on the amount abovethe cap. This will depend on your circumstances and the types ofcontributions made.

Cap from 2021/22 financialyearType of contribution

$27,500 (for all ages)Concessional Contributions1

$110,000Non-concessional Contributions2

1 From 2019/20, carry-forward rules allow you to make extra concessionalcontributions above the general concessional contributions cap, without havingto pay extra tax. For more information speak with your financial adviser or visitthe ATO website at ato.gov.au.

2 If you make contributions above the annual non-concessional contributionscap you may be eligible to automatically gain access to future year caps. Thisis known as the bring-forward arrangement, which allows you to make extranon-concessional contributions without having to pay extra tax. For moreinformation speak with your financial adviser or visit the ATO website atato.gov.au.

F. Replace the second paragraph under the heading ‘Governmentco-contributions’ on page 8 of the AIB with the following:

From 1 July 2017 additional eligibility requirements were added whichinclude:

having a total superannuation balance of less than $1.6 million($1.7 million from 1 July 2021) on 30 June of the financial yearbefore the year the contributions are being made; andnot exceeding your non-concessional contributions cap in therelevant financial year.

G. Replace the section under the ‘Transfer balance cap’ heading onpage 12 of the AIB with the following:

A 'transfer balance cap' applies to limit the total amount of supersavings you can use to commence retirement phase income streams.The transfer balance cap is $1.6 million up to 30 June 2021 and $1.7million from 1 July 2021. Indexation may apply in future years and willapply on a pro-rata basis to existing pension accounts. Retirementincome streams include account-based pensions, and most otherincome streams. However transition to retirement income streams(including transition to retirement account-based pensions) are notincluded unless a 'nil cashing' condition of release has been met (suchas attaining age 65 or retiring from the work force). If you’d like toknow your transfer balance cap, please speak with your financial adviseror go to mygov.com.au.

2. Update to Adviser service fees

A. Replace the third paragraph in the 'Option 1 Reversionary beneficiary(WealthFoundations pension members only)' section on page 25 ofthe AIB with:

If you choose this option for payment of death benefits, uponnotification of your death, your account will be updated with the detailsof your nominated reversionary beneficiary who will continue to receivethe income stream. No changes will be made to how your account isinvested unless the reversionary beneficiary provides new investmentinstructions. In addition, fees and costs will also continue to thenominated reversionary beneficiary.

B. On page 5 of the AIB, replace the Fees row in the 'Key features ofWealthFoundations' table with the below:

Fees on your account will depend on how you choose to invest yourmoney. ClearView Life charges an investment fee, administration fee,buy-sell spread and indirect costs which apply to the investments ofeach IPS Strategy and the Guaranteed Cash option.

You may also agree adviser service fees with your financial adviser.Once we have received your consent, as required by law, these feesare charged monthly and will be deducted from your account in linewith your Money Out Choice.

2 Super and Pension

C. Replace the ‘Adviser service fees’ section on page 35 of the AIB with the below:

In respect of the services provided to you by your financial adviser, your adviser may receive the fees listed in the following table. You will need toagree directly with your financial adviser the amount of adviser service fees payable, noting that caps apply within WealthFoundations. You mayreview what you pay to your financial adviser at any time directly with them. The Statement of Advice (SoA) and/or Fee Disclosure Statement (FDS)provided by your financial adviser also set out the fees you will pay.

The services you receiveHow and when paidAmountAdviser service fees

An ongoing fee paid to your adviserfor providing you with:

The agreed ongoing adviser service fee isdeducted from either your Investment Pool orGuaranteed Cash (depending on your MoneyOut Choice) shortly after the last day of eachmonth (valued at the end of the month).

As agreed between you and yourfinancial adviser. These fees are statedon the Application Form or anysubsequent Adviser Service Fees Formwe receive from you and may beexpressed as either a % or $ amount.

Ongoingadviserservice fee

financial advice relating to yourinvestments and model allocationsin WealthFoundation;

It is payable as a single fee on the average ofyour total account balance each month if a %amount is chosen, or 1/12th of the annualnominated amount if a $ amount is chosen.

advice investment strategies andasset allocations;If the fee is $ based, the $ amount may

be automatically indexed each year inline with inflation (consumer priceindex), where you have agreed to thiswith your financial adviser.

ongoing service includingrequesting some transactions onyour behalf;

Your consent must be received by us prior to anongoing adviser service fee being charged. Youwill need to renew this consent annually for theongoing adviser service fee to continue.

updates on the status of youraccount;

Ongoing adviser service fees are cappedat 1.1% p.a. or $5,500 p.a. (inclusive ofGST).

assistance in handling yourenquiries and questions related toWealthFoundations.

Advice received from your financialadviser associated with the asset

As agreed between you and your financialadviser, this fee is deducted as per your Money

A $ amount on an ad-hoc basis.Ad-hoc adviser service fees are cappedat $5,500 p.a. (inclusive of GST).

Ad-hoc(one-off)adviserservice fee

allocations and investments inWealthFoundations.

Out Choice shortly after the last day of themonth in which you and your financial adviser’ssigned authorisation and consent has beenprocessed by us.

Any adviser service fee deducted from your account is inclusive of GST and Reduced Input Tax Credit (RITC), where RITC is available. Therefore, theactual fees paid by us to your financial adviser may be greater than the fees deducted from your account. For more information about GST andRITC, please refer to the 'GST and RITC' section in the table on page 38.

Super law restricts the circumstances in which we are permitted to make payments to your financial adviser from your super or pension account.We can only deduct fees that relate entirely to advice concerning WealthFoundations. Any advice or financial services provided to you by yourfinancial adviser for matters not concerning WealthFoundations must be paid for separately by you, and cannot be deducted from your super orpension account. You can change or terminate the adviser service fees at any time by contacting us or your financial adviser. If you notify us thatyou no longer wish to use the services of a financial adviser in relation to your account, the adviser service fees will be removed.

On notification of your death, we will cease adviser service fees from your account. On the subsequent confirmation of your death, we will reverseany adviser service fees paid after your date of death back to your account.

3ClearView WealthFoundations

3. Changes to the Fees and costs sections

A. Replace the table on page 5 of the PDS with the following:

Guaranteed CashIPS Index Base 70 Strategy IPS Active Dynamic 70 Strategy

A portfolio of short-term securitiesdesigned to provide security ofcapital with some income.

A diversified investment which ismade up of passively managedassets designed to achieve highreturns over the long-term.

A portfolio of actively managedassets designed to achieve highreturns over the long-term.

Product summary

For investors looking for highsecurity for their capital.

For investors who desire the potential for higher returns and arecomfortable with higher risks.

Investor profile

To provide a high level of securityof capital by investing in cash andother highly liquid investments.

To earn relatively high returns over the long-term.Investment return objective

No minimum5 yearsMinimum suggested investmenttime frame

1 / Very low5 / Medium to high5 / Medium to highStandard risk measure1

Growth assets

0%70%70% (60-80%)Target asset allocation (range)

Current asset class split2

0%0%0%Property

0%0%8%Infrastructure

0%27%15%Australian Shares

0%43%33.5%International Shares

0%0%8.5%Emerging Markets

Defensive assets

100%30%30% (20-40%)Target asset allocation (range)

Current asset class split2

100%12%0%Money Market

0%18%35%Fixed interest

1 For more information refer to the 'How is risk measured?' section in the AIB.2 The asset class allocations set out above are as at the date of this update. The allocations will vary from time to time and up-to-date allocation information is available

within the IOL via our website at clearview.com.au/Tools/pds-and-brochures.

4 Super and Pension

B. Replace the table on page 6 of the PDS with the following:

WealthFoundations Super and Pension

How and when paidAmount forGuaranteed Cash

Amount for IPSIndex Base 70Strategy1

Amount for IPSActive Dynamic70 Strategy1

Type of fee

Investment fees are reflected in the daily unit price for eachunderlying investment option and are not deducted directlyfrom your account.

0.30% p.a.0.11% p.a.1.07% p.a.Investment fee2,3

Administration fees are reflected in the daily unit price foreach underlying investment option and are not deducteddirectly from your account.

0.20% p.a.

If you or your Family Group have more than $250,000invested in WealthFoundations, if eligible, your fees mayreduce by the fee rebates below:

Administration fee2

If you or your Family Group have more than $250,000invested in WealthFoundations your fees may be reducedby a fee rebate. Fee rebates are based on either your dailyFee rebate (per annum)

Portion of individual orFamily Group accountbalance account balance as an individual member, or the combined

daily account balance of your Family Group. The fee rebateis calculated daily and credited to your and/or your FamilyGroup accounts monthly, where the eligibility criteria toreceive this rebate are met.4

0.00%First $250,000

0.05%Next $250,000

0.10%Next $500,000

0.20%Over $1 million

Reflected in the unit price for each underlying investmentoption (other than Guaranteed Cash) when you invest in,withdraw from or switch in or out of the IPS Strategy. The

Nil0.18%0.36%Buy-sell spread5

buy-sell spread disclosed for each IPS Strategy is a weightedaverage of the buy-sell spread for the underlying investmentoptions. The buy-sell spread on the Guaranteed Cash optionis nil.

Not applicableNilSwitching fee6

Not applicableNilAdvice fees relating toall members investingin a particularinvestment option

Once we receive your consent, any adviser service feesagreed between you and your financial adviser will bededucted from your account as you’ve instructed in your

Adviser service fees as agreed with your financial adviser.Adviser service fee caps apply.

Other fees and costs7

Money Out Choice and paid to your financial adviser. Timingof fee deductions will be based on whether you have agreedan ad-hoc dollar amount or an ongoing monthly feewith your financial adviser.

This cost is calculated daily and factored into the unit priceof each underlying investment option and is not deducteddirectly from your account.

NilNil0.17% p.a.Indirect cost ratio2,8

1 Where applicable, figures shown include the current net effect of Goods and Services Tax (GST) and Reduced Input Tax Credit (RITC). Refer to the 'GST and RITC'section of the AIB and the IOL for further details. All fees & rebates in the table above are before the tax benefit. The amount you actually pay may be reduced byup to 15% to allow for the benefit of tax deductions. A tax benefit may apply to fees charged to your super and TTR accounts.

2 If your account balance for a product offered by ClearView is less than $6,000 at the end of ClearView’s income year, the total combined amount of administrationfees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap must be refunded.

3 The investment fee may include performance related fees. Please refer to the ‘Additional explanation of fees and costs’ section in the AIB for more information andthe IOL for the investment fee of each IPS Strategy and the Guaranteed Cash investment option.

4 Please refer to the 'Fee rebates' section of the AIB for details.5 The buy-sell spreads apply to the underlying investment strategies issued by ClearView Life. Please refer to the 'Fees and costs' section in the AIB for more information

and the IOL for the buy-sell spread of each IPS Strategy.6 Although there is no switching fee charged for switching investment options, switching between investment options may result in a buy-sell spread.7 Additional fees and costs may apply. Refer to the 'Fees and costs’ section in the AIB.8 The indirect costs disclosed for these investment options are calculated based on the year ended 30 June 2021, and any updated information received up until the

date of this document. The costs you will incur in subsequent financial years will depend on actual fees, costs and taxes incurred and the IPS Strategies you select.The indirect cost is subject to change without notice, and includes net transactional and operational costs. Please refer to the 'Fees and costs' section in the AIB formore information, and the IOL for the indirect costs for each IPS Strategy and the Guaranteed Cash investment option.

5ClearView WealthFoundations

C. Replace the table and footnote on page 7 of the PDS with the following:

Balance of $50,000EXAMPLE – IPS Active Dynamic 70 Strategy

For every $50,000 you have in the IPS Active Dynamic 70 Strategy youwill be charged $535 each year.

1.07% p.a.Investment fees

And, you will be charged a $100 Administration fee.0.20% p.a.PLUS Administration fee

And, indirect costs of $85 each year will be deducted from yourinvestment.

0.17% p.aPLUS Indirect costs for the IPS ActiveDynamic 70 Strategy

If your balance was $50,000 then for that year you will be charged feesof $720 for the IPS Active Dynamic 70 Strategy.

EQUALS the cost of the product

Balance of $50,000EXAMPLE - IPS Index Base 70 Strategy

For every $50,000 you have in the IPS Index Base 70 Strategy you willbe charged $55 each year.

0.11% p.a.Investment fees

And, you will be charged a $100 Administration fee.0.20% p.a.PLUS Administration fee

And, indirect costs of $0.00 each year will be deducted from yourinvestment.

0.00% p.aPLUS Indirect costs for the IPS Index Base70 Strategy

If your balance was $50,000 then for that year you will be charged feesof $155 for the IPS Index Base 70 Strategy.

EQUALS the cost of the product

Balance of $50,000EXAMPLE – Guaranteed Cash

For every $50,000 you have in Guaranteed Cash you will be charged$150 each year.

0.30% p.a.Investment fees

And, you will be charged a $100 Administration fee.0.20% p.a.PLUS Administration fee

NilNilPLUS Indirect costs for Guaranteed Cash

If your balance was $50,000, then for that year you will be charged feesof $250 for Guaranteed Cash.

EQUALS Cost of the product

Note: Additional fees may apply, such as adviser service fees. And, if you leave WealthFoundations, you may be charged a buy-sell spread whichalso applies whenever you make a contribution, exit, roll over or make an investment switch. This fee will vary depending on your investmentoption; the sell spread for exiting the IPS Active Dynamic 70 Strategy is 0.19% (this will equal $95 for every $50,000 you withdraw), the sell spreadfor exiting the IPS Index Base 70 Strategy is 0.09% (this will equal $45 for every $50,000 you withdraw) and the sell spread for exiting the GuaranteedCash investment option is 0% (this will equal $0 for every $50,000 you withdraw). This example does not take into account any eligibility to feerebates which may reduce the fees and costs of your investment.

6 Super and Pension

D. Replace the table and footnotes on page 32 of the AIB with the following:

WealthFoundations Super and Pension

How and when paidAmount1Type of fee

Investment fees are reflected in the daily unit price for each underlyinginvestment option and are not deducted directly from your account.

0.11% - 1.31% p.a.Investment fee 2, 3

Administration fees are reflected in the daily unit price for each underlyinginvestment option and is not deducted directly from your account.

If you or your Family Group have more than $250,000 invested inWealthFoundations, your fees may be reduced by a fee rebate. Fee rebates

0.20% p.a.

If you or your Family Group have morethan $250,000 invested inWealthFoundations, if eligible, your feesreduce by the fee rebates below:

Administration fee2

are based on either your daily account balance as an individual member,or the combined daily account balance of your Family Group.

The fee rebate is calculated daily and credited to your and/or your FamilyGroup accounts monthly, where eligibility to receive this rebate aremet.4

Fee rebate (perannum)

Portion ofIndividual orFamily Groupaccount balance

0.00%First $250,000

0.05%Next $250,000

0.10%Next $500,000

0.20%Over $1 million

Reflected in the unit price for each underlying investment option when youinvest in, withdraw from, or switch in or out of an IPS Strategy. The buy-sellspread disclosed for each IPS Strategy is a weighted average of the buy-sellspread for the underlying investment options.

0.00 – 0.60%Buy-sell spread5

The buy-sell spread on the Guaranteed Cash option is nil.

Not applicableNilSwitching fee6

Not applicableNilAdvice fees relating to allmembers investing in aparticular investmentoption

Once we receive your consent, any adviser service fees agreed between youand your financial adviser will be deducted from your account as you’ve

Adviser service fees (if you agree tothese fees with your financial adviser)

Other fees and costs7

instructed in your Money Out Choice and paid to your financial adviser.Timing of fee deductions will be based on whether you have agreed anad-hoc amount or an ongoing monthly fee with your financial adviser.

This cost is calculated daily and factored into the unit price of each underlyinginvestment option and is not deducted directly from your account.

0.00 - 0.19% p.a.Indirect cost ratio2,8

Refer to the IOL for the indirect cost ratio of each investment strategy.

1 Where applicable, figures shown include the current net effect of Goods and Services Tax (GST) and Reduced Input Tax Credit (RITC). Refer to the 'GST and RITC'section of this Brochure for further details. All fees & rebates in the table above are before the tax benefit. The amount you actually pay may be reduced by up to15% to allow for the benefit of tax deductions. A tax benefit may apply to fees charged to super and TTR accounts.

2 If your account balance for a product offered by ClearView is less than $6,000 at the end of ClearView's income year, the total combined amount of administrationfees, investments fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap must be refunded.

3 The investment fee may include performance related fees. Please refer to the ‘Additional explanation of fees and costs’ section of this Brochure for more informationand the IOL for the investment fee of each IPS Strategy.

4 Please refer to the 'Fee rebates' section below for details.5 The buy-sell spreads apply to the underlying investment strategies issued by ClearView Life. Please refer to the ‘Additional explanation of fees and costs’ section for

more information and IOL for the buy-sell spread of each IPS Strategy.6 Although there is no switching fee charged for switching investment options, switching between investment options may result in a buy-sell spread.7 Additional fees and costs may apply. Refer to the ‘Additional explanation of fees and costs’ section for more information.8 This is a range calculated on the indirect costs for all investment options for the year ended 30 June 2021, and any updated information received up until the date

of this document. The costs you will incur in subsequent financial years will depend on actual fees, costs and taxes incurred and the IPS Strategies you select. Theindirect cost is subject to change without notice and includes net transactional and operational costs. Please refer to the IOL for the indirect costs for each IPS Strategyand the Guaranteed Cash investment option, and the ‘Additional explanation of fees and costs’ below for more information about how the buy-sell spread of theunderlying investment options impacts on the net transactional and operational costs.

7ClearView WealthFoundations

E. Replace the table in the 'Additional explanation of fees and other costs' section on page 33 of the AIB with the following:

Fee rebate on this balance (per annum)1Fee rebate (% per annum)1Individual or Family Group account balance

0.00 cents0.00%$0 to $250,000

0.05 cents for each dollar over $250,0000.05%> $250,000 to $500,000

$125 plus 0.10 cents for each dollar over$500,000

0.10%> $500,000 to $1 million

$625.00 plus 0.20 cents for each dollar over$1 million

0.20%> $1 million

1 The fee rebate is a gross amount before tax is deducted.

F. Replace the 'Transactional and operational costs' section on page36 of the AIB with:

Transactional and operational costs (transactional costs) representthe costs of investing through the underlying investments. These costsinclude charges such as brokerage, the bid-ask spread for underlyingassets, settlement costs, clearing costs and stamp duty, and are anadditional cost to you. Transactional costs are factored into the dailyunit price of each underlying investment option and are not deducteddirectly from your account. The gross transactional costs that wereincurred for all IPS Strategies for the year ended 30 June 2021 werebetween 0.00% and 0.26%, depending on the IPS Strategy. However,some or all of the transactional costs may be recovered through thebuy-sell spread charged. An amount not recovered through a buy-sellspread, called the net transactional and operational costs, forms partof the indirect cost ratio.

The net transactional costs that we estimate were incurred at the IPSStrategy level in the financial year ending 30 June 2021 are set out inthe table below:

RangeTransactional and operational costs

0.00% - 0.26%Transactional and operational costs

0.00% - 0.17%Buy-sell recovery

0.00% - 0.19%Net transactional and operational costs

The indirect costs set out in the table on page 32 of the AIB includesthe net transactional costs set out in this section. Refer to the IOL forthe gross transactional costs and net transactional costs of the relevantIPS Strategy.

G. Replace the 'Worked dollar example' on page 37 of the AIB with:

The estimated buy-sell spread for the IPS Active Dynamic 70 Strategyis 0.36% (an approximate buy spread of 0.17% and an approximatesell spread of 0.19%). Therefore, the cost of an investment of $5,000in the IPS Active Dynamic 70 Strategy would be $8.50 and the cost ofa withdrawal of $5,000 from the IPS Active Dynamic 70 Strategy wouldbe $9.50. As this is an example, the actual amounts incurred may varybetween IPS Strategies and are subject to change.

4. Update to the LifeSolutions Trustee

A. Within the 'Protection' section on page 3 of the PDS, replace thefifth paragraph with the following:

An opportunity to access insurance cover is available to eligiblemembers through ClearView LifeSolutions Super, a separate insuranceonly super product. Your insurance premiums can be funded from yourWealthFoundations account via rollover.

B. Within the 'Opportunity to access insurance cover' section on page16 of the AIB, replace the first paragraph with the following:

Insurance cover is available to eligible WealthFoundations membersthrough ClearView LifeSolutions Super, a separate insurance only superproduct. Your LifeSolutions Super insurance premiums can be fundedfrom your WealthFoundations account via rollover.

5. Operational updates

A. On page 8 of the PDS, replace the first paragraph under section 8‘How to Open an account’ with:

Applications for an account can only be made via your financial adviser.With your approval, your financial adviser can set up your account andmake certain changes to your account quickly and easily online. Onceyour account is set up you’ll also be able to make some changes online.Along with your annual Member Benefit Statement you are able toaccess information about your account and investments via ClearViewOnline, your secure online portal. Log in via clearview.com.au.

B. On page 5 of the AIB, replace the Your WealthFoundations Inboxrow in the 'Key features of WealthFoundations' table with the below:

We will let you and your financial adviser know when changes aremade on your account by updating your secure, onlineWealthFoundations Inbox. We’ll notify you by email when new mailhas been added and you can access your information by logging onto ClearView Online.

You’ll also be able to access your past annual Member BenefitStatements, which will be kept in your WealthFoundations Inbox.

C. Any reference to our Informational Handling Policy on pages 43 and47 of the AIB should be replaced with our Privacy Policy and accessedvia clearview.com.au/privacy-policy-(information-handling-policy-1).

D. Insert the below paragraph at the end of the section titled ‘Effectivedates’ on pages 30 and 31 of the AIB:

When you instruct us to transact on your account, the date we receiveyour completed information (prior to 3pm) and the date we processthe transaction may differ. When transacting around 30 June, thisdifference can affect which transactions are shown in a particularannual statement. Transactions made closer to 30 June may not beprocessed until the new financial year and consequently may appearin your annual statement for the following financial year. Rest assuredthis transaction will still count towards any applicable ATO caps for thefinancial year we received the transaction. Should you have anyquestions please contact your adviser or our Service Centre.

8 Super and Pension

6. Complaints Handling Policy

A. On page 8 of the PDS, replace the last paragraph under section 8‘How to open an account’ with:

We will review your complaint and provide you with a final responsethat includes reasons for our decision. If you are not satisfied with thefinal outcome of your complaint, or a satisfactory resolution is notreached within 45 days (or within 90 days for a death benefitcomplaint), you may lodge your complaint with the Australian FinancialComplaints Authority (AFCA). AFCA is the external dispute resolutionscheme for financial services complaints. For more information onAFCA and their contact details please refer to 'Section 9 Otherinformation' of the AIB.

B. On page 44 of the AIB, in section 9 'Otherinformation', replace ‘Complaints Resolution’ and its contents with:

If you have a complaint

Our customers are important to us. If something goes wrong, we’redetermined to make it right again. If you have an experience with usthat you are not satisfied with, we’re here to resolve the issue.

If you have a complaint, please call us on 132 977 or write to:

Complaints Manager ClearView Reply Paid 4232 Sydney NSW 2001 Email: complaints@clearview.com.au

We will acknowledge your complaint within one business day (beingMonday to Friday except for public holidays in Sydney NSW) of receivingit, or as soon as practical.

Complaint timeframes

We will provide a final response to your complaint in writing or viaelectronic communication:

for complaints about superannuation death benefit distributions,within 90 calendar days after the expiry of the 28-day calendarperiod for objecting to a proposed death benefit distribution; andfor all other complaints, within 45 calendar days of receiving yourcomplaint.

In exceptional cases where there is no reasonable opportunity for usto respond within the applicable timeframe above because resolutionof the complaint is particularly complex or because of circumstancesbeyond our control which cause complaint management delays, wewill need more time to respond to your complaint.

In these cases, before the applicable timeframe above expires, we willprovide you with a notice:

telling you that we need more time;setting out our written reasons for the delay;clearly communicating our revised expected timeframe; andsetting out information about your right to take your complaint tothe Australian Financial Complaints Authority (AFCA) if you aredissatisfied and the contact details for AFCA.

Australian Financial Complaints Authority (AFCA)

AFCA provides fair and independent financial services complaintresolution that is free to consumers. You are able to lodge a complaintdirectly with AFCA, however we encourage you to contact us first sowe can resolve the matter with you. You can contact AFCA at:

Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001Phone: 1800 931 678 Email: info@afca.org.au Website: afca.org.au

Time limits may apply, so you should act promptly. To find out moreabout the time limits that are applicable to your type of complaint,please refer to the AFCA website.

Need more information?Please speak to your financial adviser or contact our Service Centre on132 977.

ClearView WealthFoundationsReply Paid 4232Sydney NSW 2001132 977client.wealth@clearview.com.auclearview.com.au

This update is issued by ClearView Life Nominees Pty Ltd ABN37 003 682 175 AFS Licence No. 227683 (ClearView) as Trusteefor the ClearView Retirement Plan (ClearView Plan) which includesWealthFoundations Super and Pension. The information providedin this document is general information only. This informationdoes not take into account your individual objectives, financialcircumstances or needs. You should assess whether theinformation is appropriate for you, having regard to yourobjectives, financial circumstances and needs. You shouldconsider the Product Disclosure Statement (PDS) when decidingwhether or not to acquire or to continue to hold the investment.

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Issued By ClearView Life Nominees Pty Limited ABN 37 003 682 175AFSL 227683 RSE Licence No L0000802 as Trustee for the ClearViewRetirement Plan ABN 45 828 721 007 RSE Registration No R1001624.USI: CVW0001AU.

This Product Disclosure Statement (PDS) is a summary of significantinformation and contains a number of references to importantinformation which is contained in the Additional Information Brochureand Investment Options List (each of which forms part of the PDS).

You should consider this information before making a decision aboutWealthFoundations. This PDS should be read in conjunction with theAdditional Information Brochure and Investment Options List. You canobtain a copy of the Additional Information Brochure, InvestmentOptions List and other required updated information aboutWealthFoundations free of charge from your financial adviser, by callingus on 132 977 or by visiting our website atclearview.com.au/Tools/pds- and-brochures. The offer made in thisPDS is available only to persons receiving this PDS within Australia. Itdoes not constitute an offer in any other country or jurisdiction.

Guide to WealthFoundations PDSProduct Disclosure Statement (PDS): Contains key information.Additional Information Brochure (AIB): Forms part of the PDS andprovides more detailed information on how your account worksand general information about super and pensions.Investment Options List (IOL): Forms part of the PDS and detailsthe available investment strategy options.

Terms used in the PDSClearView Life refers to ClearView Life Assurance Limited, the entitywe have appointed as the day-to-day manager and administrator ofWealthFoundations. Plan refers to the ClearView Retirement Plan,which WealthFoundations forms part of. WealthFoundations refersto ClearView WealthFoundations Super and Pension. We, us, our, orCLN refers to ClearView Life Nominees Pty Limited, the product issuerand superannuation trustee. ClearView Online refers to the secureonline portal where you can see information on, and make changesto, your account.

Getting adviceThe information provided in this PDS is general information only anddoes not take account of your personal objectives, financial situationor needs (your 'personal circumstances'). You should consider theappropriateness of the information in this PDS having regard to yourpersonal circumstances. Your financial adviser can provide you with

tailored advice that meets your personal circumstances and werecommend you discuss your situation with them before acting on theinformation in this PDS.

Staying up to dateThe superannuation (super) environment and investment markets arealways evolving. Information in this PDS, whilst accurate at the dateof issue, is subject to change from time to time. We reserve the rightto change any terms and conditions of the offer made under this PDSand all associated disclosure documents. We will notify you of anymaterially adverse changes as required by law.

We may make changes which are not materially adverse to you withoutadvising you. Updated information will be made available via ourwebsite at clearview.com.au/Tools/pds-and- brochures and to yourfinancial adviser if you have nominated one. You can request a papercopy of any updated information from us at any time, free of charge.

Contact details132 977client.wealth@clearview.com.auclearview.com.au

ClearView WealthFoundationsReply Paid Box 4232Sydney NSW 2001

Contents21. About WealthFoundations Super and Pension

22. How super works

33. Benefits of investing with WealthFoundations

34. Risks of super

45. How we invest your money

56. Fees and costs

77. How super is taxed

88. How to open an account

For further information about themethodology used by Chant West,see www.chantwest.com.au.

Super and PensionProduct Disclosure StatementDate issued 14 October 2019

1. About WealthFoundations Super and PensionWealthFoundations Super lets you build and maintain your superannuation. Once you meet certain criteria, a WealthFoundations Pension account,including a transition to retirement pension account, then allows you to generate an income stream to fund your retirement lifestyle.

SUPERWhether you’ve just started working or you’ve already built a substantial nest

egg, WealthFoundations Super helps you easily and effectively manage and grow

your super. You can consolidate to one account by rolling in other funds

and make employer, personal and spouse contributions.

No minimum investment

PENSIONThrough WealthFoundations Pension you can create an income stream which suits your retirement lifestyle. You choose how

much you want to receive (subject to legislative minimums) and tell us whether you want to receive it twice a month, once

a year or any option in between.

Minimum $20,000 investment

TRANSITION TO RETIREMENTOnce you’ve reached preservation age you can access an income stream even

if you are still working, by starting a Transition to Retirement (TTR) Pension (part of WealthFoundations Pension). There are limits on the income which

can be accessed each year.

Minimum $20,000 investment

WealthFoundations Super and Pension

We understand the importance of financial advice for our members.WealthFoundations is an advised product and has been designed tobe operated on your behalf by your nominated financial adviser andtherefore, applications may only be accepted via a financial adviser. Ifyour advice arrangements change in the future, you can nominate anew financial adviser who is authorised to use WealthFoundations.

WealthFoundations is offered through the ClearView Retirement Plan(the Plan), which is a complying super fund. CLN is the Trustee of thePlan.

We have appointed ClearView Life Assurance Limited (ClearView Life)ABN 12 000 021 581, AFS Licence Number 227682 to carry out theday-to-day management and administration of WealthFoundations.In addition, we invest your contributions, transfers and rollovers vialife investment policies that are issued by ClearView Life.

The Trustee and ClearView Life are ultimately subsidiaries of ClearViewWealth Limited ABN 83 106 248 248. We may enter into financial orother transactions with related entities in relation to managing theassets of WealthFoundations which may result in the related entitybeing entitled to earn fees, commissions or other benefits in relationto any such appointment or transaction and to retain them for ourown benefit. We will ensure that you do not pay any additional feeswhen this occurs.

ClearView Wealth Limited and its subsidiaries do not guarantee theperformance of WealthFoundations (except as expressly statedotherwise). WealthFoundations offers investment-type productswhich are subject to investment risk including loss of income and capitalinvested.

ClearView Life and ClearView Wealth Limited have given their consentand, as at the date of this PDS, have not withdrawn consent to theinclusion in this PDS of statements by them in the form and context inwhich they appear.

You can find further information about the Plan on our website atclearview.com.au/superannuation-investments-retirement/trustee-information. Information that may be required to be disclosedby law, including details on trustee and executive remuneration willbe available on this website as and when required.

You should read the important information ‘AboutWealthFoundations Super and Pension’ before making a decision.Go to the Additional Information Brochure available atclearview.com.au/Tools/pds-and-brochures. The materialrelating to ‘About WealthFoundations Super and Pension’ maychange between the time you read this document and the daywhen you acquire the product.

2. How super worksSuper is a long-term investment designed to help you save for yourretirement with regular contributions made by you and/or youremployer. Most people's super is made up of super guarantee (SG)contributions made by employers however members can alsocontribute voluntary employer contributions, personal contributions(made by you or your spouse) and government funded contributions.

Because super is designed for retirement there are restrictions oncontributions to and withdrawals from super. There are also a varietyof government incentives and tax savings to assist you in saving foryour retirement lifestyle. To find out more go to ato.gov.au/super ormoneysmart.gov.au.

Growing your superTo make your super grow faster you can make extra contributions(aside from your mandated employer contributions) which may includepre-tax salary sacrifice contributions and personal contributions.Depending on your circumstances, personal contributions may be taxdeductible or may entitle you to government contributions.

Keeping your super in one placeConsolidating your super (via rollover) into one account is easy andcan be a great way to avoid paying multiple fees and keep track ofyour retirement savings. To consolidate your super into yourWealthFoundations account speak to your financial adviser.

Most employees are also able to choose which fund their employerpays their contributions into. You can use WealthFoundations for youremployer and personal contributions. You will need to give youremployer the Standard Choice Form which you will receive with yourWealthFoundations Super welcome pack or you can access it viaClearView Online or by calling us on 132 977.

Access to your superYou can only access your super upon meeting a specific condition ofrelease. Generally this means retirement from the workforce oncereaching the preservation age, reaching age 65 or through a Transitionto Retirement (TTR) strategy that your financial adviser can help youwith. Further information regarding the preservation age as well asother conditions of release is available on ato.gov.au/super.

2 Super and Pension

You should read the important information about ‘How superworks’ and ‘How pensions work’ before making a decision. Goto the Additional Information Brochure available atclearview.com.au/Tools/pds-and-brochures. The materialrelating to ‘How super works’ and ‘How pensions work’ maychange between the time you read this document and the daywhen you acquire the product.

3. Benefits of investing withWealthFoundations

TransparentProfessionally managed investment strategies are available throughour Investment Portfolio Service (IPS) with a range of diversified, assetclass specific or index options to choose from.

See how your super is invested while investment experts manageyour portfolio. We allocate your chosen mix of investment strategiesto underlying investments you can see online and on your annualMember Benefit Statement.

If you prefer to keep costs down without transparent reporting, youcan choose one of our low cost Index Base investments.

EfficientMonthly rebalancing automatically brings your account back to youroriginal investment allocation, adjusting for market movements.

Straightforward, competitive fees with no account keeping, entry,exit or switching fees (other than a buy-sell spread charged byClearView Life). All administration and investment fees and indirectcosts are included in the unit price of each investment. We also offerflexible options to pay any adviser service fees that you agree withyour adviser.

Fee rebates for eligible accounts and family groups may apply ifyour account or all eligible accounts in your family group have acombined daily balance over $250,000.

It’s easy to contribute on an ad-hoc or regular basis to yourWealthFoundations Super account, including personal and superguarantee (SG) contributions, with no minimum applied by us.

Get information and make changes any time online through ClearViewOnline. You can check your balance, contributions and payments,update your details and more. Your adviser can also set up a familygroup or update your investment instructions

ProtectionGuaranteed Cash provides security of capital without locking yourmoney away.

Invest to match your stage of life with the LifeStages Strategy wherewe adjust your investment profile over time as you get older.

The Foundation Assurance Benefit helps guard against marketsurprises if you die at any age or become totally and irreversibly unableto perform certain Activities of Daily Living prior to age 65.

Choose who receives your account balance by nominating one ormore beneficiaries or your estate in the event of your death.

An opportunity to access insurance cover is available to eligiblemembers through ClearView LifeSolutions Super, a separate insuranceonly super product issued by us. Your insurance premiums can befunded from your WealthFoundations account via rollover.

How we keep in touchAll communications we send you are kept securely in your personalWealthFoundations Inbox on ClearView Online so you can easily accessthem when you need to. When new items are added we’ll notify youby email to let you know a notification is available. You will need tovisit ClearView Online to read these communications, as they will notbe posted to you. It is important to keep your email address onClearView Online updated at all times.

When you join: Once your application is accepted we will send you awelcome pack confirming your account details as well as otherinformation you will find helpful to manage your account. We’ll alsoemail you with directions to set up your ClearView Online access anda handy guide to help you find things.

When things change in your account: We will email you any timeyou, or your financial adviser, make changes to your account. Toprotect your privacy you will need to go to your WealthFoundationsInbox online for more details. We’ll also let you know if wereceive contributions or complete withdrawals (other than regularcontributions or pension payments).

Annual reporting: Each year around September we will send you aMember Benefit Statement which tells you what has happened on youraccount over the 12 months to 30 June that year. WealthFoundationsPension members also receive a Pension Pack each July which providesdetails of proposed regular pension payments for the new financialyear along with information you may need to complete your tax returnand provide to other organisations. Other general information forWealthFoundations such as the Annual Report can be found on ourwebsite at clearview.com.au/superannuation-investments-retirement/Annual- Statements-and-Reports.

If you leave: We’ll be sorry to see you go but will send you a statementshowing all transactions that have happened since your last MemberBenefit Statement as well as a confirmation of the amount anddestination of your final payment.

You should read the important information about 'Benefits ofinvesting with WealthFoundations' and 'How your account works'before making a decision. Go to the Additional InformationBrochure available at clearview.com.au/Tools/pds-and-brochures. The material relating to 'Benefits of investing withWealthFoundations' and 'How your account works' may changebetween the time you read this document and the day whenyou acquire the product.

4. Risks of superBefore you consider investing in WealthFoundations, it is importantyou understand the risks that can affect your super and investments.

General risksThere is a risk that super laws, as well as tax laws, may change in thefuture and may adversely affect your investment. Super is a way ofinvesting for your retirement and depending on the amountcontributed, investment returns and the length of time invested, thereis a risk that the amount of your super may not be enough to provideadequately for your retirement.

Investment risksAll investing involves a degree of risk. Different strategies may carrydifferent levels of risk depending on the assets that make up thestrategy. It is important to understand that assets with the highest

3ClearView WealthFoundations

long-term returns may also carry the highest expected level of shortterm risk. You should be aware that the value of your investments andlevel of returns will vary and future returns may differ from past returns.Returns are not guaranteed and you may lose some of your investment.Remember that our Foundation Assurance Benefit helps guard againstmarket surprises in the event of death or if you become totally andirreversibly unable to perform Activities of Daily Living. To understandwhen this benefit applies and its value please read 'Section 6 How youraccount works' of the AIB.

You should discuss this with your financial adviser who can recommendinvestment options to suit your needs. The appropriate level of risk foryou will depend on your age, investment time frame, where other partsof your wealth are invested and your risk tolerance.

You should read the important information about ‘Risks of super’before making a decision. Go to the Additional InformationBrochure available at clearview.com.au/Tools/pds-and-brochures. The material relating to the ‘Risks of super’ maychange between the time you read this document and the daywhen you acquire the product.

5. How we invest your moneyYou and your financial adviser can mix IPS Strategies and GuaranteedCash to create a portfolio that suits you. You can also choose theLifeStages Strategy and we’ll adjust your portfolio mix as you movefrom early investing (focused on growth) through to retirement (whenyour need for income increases).

You should read the important information about ’Investmentstrategies available’ and the Investment Options List beforemaking a decision. Go to the Additional Information Brochureand Investment Options List available at clearview.com.au/Tools/pds-and-brochures. The material relating to the’Investment strategies available’ and Investment Options Listmay change between the time you read this document and theday when you acquire the product.

LifeStages StrategyThe LifeStages Strategy is designed for members who wish to havetheir investment portfolio automatically adjusted as they age. Theinvestment mix between higher expected return (generally by investingin higher risk investments, such as shares), and lower expected return(by investing in lower risk investments, such as bonds) will change ina structured way over time. LifeStages invests in appropriate IPSStrategies to lower the exposure to growth assets as you get older.Target asset allocations and ages at which changes take place can beseen in the diagram below.

The diagram above shows the current long-term target neutralweightings. Actual weightings may vary in the short-term accordingto our assessment of the prospective return/risk trade off of the variousasset classes (up to +/- 10% tilt from the neutral position), currentmarket trends and other current factors.

IPS StrategiesThe IPS Strategies let you focus on the types of assets to invest in(known as asset classes), your risk profile and your risk appetite. Thereare a range of IPS Strategies to choose from which include bothdiversified and single asset class options.

Our team of investment experts put together a mix of investments tosuit the goals and objectives of each IPS Strategy and monitor themon a regular basis. When changes need to be made to investmentoptions or asset allocations we manage this for you and keep youinformed via your Quarterly Investment Newsletter. We’ll also rebalanceyour Investment Pool regularly.

Each of the IPS Strategies and Guaranteed Cash have a range of levelsof risk and potential levels of return which means you and your financialadviser can select the mix that best suits your needs.

You are required to make an investment choice when completing yourApplication Form. Until you make a nomination, your funds will beinvested into Guaranteed Cash.

More information about all available IPS Strategies and the GuaranteedCash investment option can be found in the AIB or IOL. As an exampleof the choices available see the table on the following page for detailsof the IPS Active Dynamic 70 Strategy, the IPS Index Base 70 Strategyand the Guaranteed Cash investment option.

4 Super and Pension

Guaranteed CashIPS Index Base 70 Strategy IPS Active Dynamic 70 Strategy

A portfolio of short-term securitiesdesigned to provide security ofcapital with some income.

A diversified investment which ismade up of passively managedassets designed to achieve highreturns over the long-term.

A portfolio of actively managedassets designed to achieve highreturns over the long-term.

Product summary

For investors looking for highsecurity for their capital.

For investors who desire the potential for higher returns and arecomfortable with higher risks.

Investor profile

To provide a high level of securityof capital by investing in cash andother highly liquid investments.

To earn relatively high returns over the long-term.Investment return objective

No minimum5 yearsMinimum suggested investmenttime frame

1 / Very low5 / Medium to high4 / MediumStandard risk measure1

Growth assets

0%70%70% (60-80%)Target asset allocation (range)

Current asset class split2

0%0%0%Property

0%0%8%Infrastructure

0%27%15%Australian Shares

0%43%31%International Shares

0%0%6%Emerging Markets

Defensive assets

100%30%30% (20-40%)Target asset allocation (range)

Current asset class split2

100%12%0%Money Market

0%18%40%Fixed interest

1 For more information refer to the 'How is risk measured?' section in the AIB.2 The asset class allocations set out above are as at 14 October 2019. The allocations will vary from time to time and up-to-date allocation information is available

within the IOL via our website at clearview.com.au/Tools/pds-and-brochures.

When choosing your investment options you must consider the likely investment return, the level of risk and your investment time frame.

You should read the important information about ‘How your account works’ and the Investment Options List before making a decision. Goto the Additional Information Brochure and Investment Options List available at clearview.com.au/Tools/pds-and-brochures. The materialrelating to ‘How your account works’ and the Investment Options List may change between the time you read this document and the daywhen you acquire the product.

6. Fees and costs

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 account balance rather than 1% could reduce your final return by up to 20% over a30 year period (for example, reduce it from $100,000 to $80,000).

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

You or your employer, as applicable, may be able to negotiate to pay lower fees. Ask the fund or your financial adviser.

TO FIND OUT MOREIf you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and InvestmentsCommission (ASIC) website (www.moneysmart.gov.au) has a superannuation calculator to help you check out different fee options.

5ClearView WealthFoundations

Note: The fees for this product are not subject to negotiation and are outlined in the table below. Adviser service fees may be negotiated with youradviser.

The information in the following table can be used to compare WealthFoundations costs with other super and pension products. The ASIC feecalculator can be used to help you calculate the effect of fees and costs on account balances.

The fees and costs charged may be deducted from your account or from investment returns. The following table shows fees and costs for the IPSActive Dynamic 70 Strategy, the IPS Index Base 70 Strategy and the Guaranteed Cash investment option.

WealthFoundations Super and PensionHow and when paidAmount for

Guaranteed CashAmount for IPSIndex Base 70Strategy1

Amount for IPSActive Dynamic 70Strategy1

Type of fee

Investment fees are reflected in the daily unit price for eachunderlying investment option and are not deducted directlyfrom your account.

0.30% p.a.0.11%1.02% p.a.Investment fee23

Administration fees are reflected in the daily unit price foreach underlying investment option and are not deducteddirectly from your account.If you or your family group have more than $250,000invested in WealthFoundations, if eligible, your fees may bereduced by a fee rebate. Fee rebates are based on eitheryour daily account balance as an individual member, or thecombined daily account balance of your Family Group. Thefee rebate is calculated daily and credited to your or

0.20% p.a.If you or your family group have more than $250,000invested in WealthFoundations, if eligible, your fees mayreduce by the fee rebates below:

Administration fee2

Fee rebate (per annum)Portion of individual orFamily Group accountbalance

0.00%First $250,000your family groups accounts monthly where the eligibilitycriteria to receive this rebate are met.40.05%Next $250,000

0.10%Next $500,000

0.20%Over $1 million

Reflected in the unit price for each underlying investmentoption (other than Guaranteed Cash) when you invest in,withdraw from or switch in or out of the IPS Strategy. The

Nil0.26%0.44% p.a. Buy-sell spread5

buy-sell spread disclosed for each IPS Strategy is a weightedaverage of the buy-sell spread for the underlying investmentoptions. The buy-sell spread on the Guaranteed Cash optionis nil.Not applicableNilSwitching fee6

Not applicable

Nil

Advice fees relatingto all membersinvesting in aparticular investmentoption

Any adviser service fees agreed between you and yourfinancial adviser will be deducted from your account asyou’ve instructed in your Money Out Choice and paid to your

Adviser service fees as agreed with your financial adviser8Other fees and costs7

financial adviser. Timing of fee deductions will be based onwhether you have agreed an ad-hoc dollar amount or anongoing monthly fee, as agreed with your financial adviser.This cost is calculated daily and factored into the unit priceof each underlying investment option and is not deducteddirectly from your account.

Nil0.00% p.a0.09% p.a.Indirect cost ratio29

1 All figures shown include the current net effect of Goods and Services Tax (GST) and Reduced Input Tax Credit (RITC). Refer to the 'GST and RITC' section of the AIBand the IOL for further details. All fees & rebates in the table above are before the tax benefit. The amount you actually pay may be reduced by up to 15% to allowfor the benefit of tax deductions. A tax benefit may apply to fees charged to your super and TTR accounts.

2 If your account balance for a product offered by ClearView is less than $6,000 at the end of ClearView's income year, the total combined amount of administrationfees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap must be refunded.

3 The investment fee may include performance related fees. Please refer to the ‘Additional explanation of fees and costs’ section in the AIB for more information andthe IOL for the investment fee of each IPS Strategy and the Guaranteed Cash investment option.

4 Please refer to the 'Fee rebates' section of the AIB for details.5 The buy-sell spreads apply to the underlying investment strategies issued by ClearView Life. Please refer to the 'Fees and costs' section in the AIB for more information and

the IOL for the buy-sell spread of each IPS Strategy.6 Although there is no switching fee charged for switching investment options, switching between investment options may result in a buy-sell spread.7 Additional fees and costs may apply. Refer to the 'Additional Explanation of Fees and costs’ section in the AIB.8 The amount shown includes the current net effect of Goods and Services Tax (GST) and Reduced Input Tax Credit (RITC). Refer to the 'GST and RITC' section of the

AIB and the IOL for further details.9 The indirect costs disclosed for these investment options are calculated based on the year ended 30 June 2019, and any updated information received to the date

of this document. The costs you will incur in subsequent financial years will depend on actual fees, costs and taxes incurred and the IPS Strategies you select. Theindirect cost is subject to change without notice, and includes net transactional and operational costs. Please refer to the 'Fees and costs' section in the AIB for moreinformation, and the IOL for the indirect costs for each IPS Strategy and the Guaranteed Cash investment option.

6 Super and Pension

Examples of annual fees and costsThe following tables give examples of how the fees and costs for the IPS Active Dynamic 70 Strategy, IPS Index Base 70 Strategy and GuaranteedCash can affect your superannuation investment over a one-year period. You should use these tables to compare this superannuation productwith other superannuation products.

Balance of $50,000EXAMPLE – IPS Active Dynamic 70 Strategy

For every $50,000 you have in the IPS Active Dynamic 70 Strategy youwill be charged $510 each year.

1.02% p.a.Investment fees

And, you will be charged a $100 Administration fee.0.20% p.a.PLUS Administration fee

And, indirect costs of $45 each year will be deducted from yourinvestment.

0.09% p.aPLUS Indirect costs for the IPS ActiveDynamic 70 Strategy

If your balance was $50,000 then for that year you will be charged feesof $655 for the IPS Active Dynamic 70 Strategy.

EQUALS the cost of the product

Balance of $50,000EXAMPLE - IPS Index Base 70 Strategy

For every $50,000 you have in the IPS Index Base 70 Strategy you willbe charged $55 each year.

0.11% p.a.Investment fees

And, you will be charged a $100 Administration fee.0.20% p.a.PLUS Administration fee

And, indirect costs of $0.00 each year will be deducted from yourinvestment.

0.00% p.aPLUS Indirect costs for the IPS Index Base70 Strategy

If your balance was $50,000 then for that year you will be charged feesof $155 for the IPS Index Base 70 Strategy.

EQUALS the cost of the product

Balance of $50,000EXAMPLE – Guaranteed Cash

For every $50,000 you have in Guaranteed Cash you will be charged$150 each year.

0.30% p.a.Investment fees

And, you will be charged a $100 Administration fee.0.20% p.a.PLUS Administration fee

NilNilPLUS Indirect costs for Guaranteed Cash

If your balance was $50,000, then for that year you will be charged feesof $250 for Guaranteed Cash.

EQUALS Cost of the product

Note: Additional fees may apply, such as adviser service fees. And, if you leave WealthFoundations, you may be charged a buy-sell spread whichalso applies whenever you make a contribution, exit, roll over or make an investment switch. This fee will vary depending on your investmentoption; the sell spread for exiting the IPS Active Dynamic 70 Strategy is 0.22% (this will equal $110 for every $50,000 you withdraw), the sell spreadfor exiting the IPS Index Base 70 Strategy is 0.13% (this will equal $65 for every $50,000 you withdraw) and the sell spread for exiting the GuaranteedCash investment option is 0% (this will equal $0 for every $50,000 you withdraw). This example does not take into account any eligibility to feerebates which may reduce the fees and costs of your investment.

Additional explanation of fees and costsThere may be circumstances where fees and charges are increased oraltered without your consent. ClearView Life may vary the fees andalso introduce new fees or charges for the services that it provides toCLN. They will do this by notifying CLN of a variation to the fees of thelife investment policies. If CLN or ClearView Life increase any fees orcharges you will receive 30 days advance notice.

Warning: Adviser service fees (which are negotiable) may apply if youconsult a financial adviser. The Statement of Advice given to you byyour financial adviser will tell you the amount of any adviser servicefees.

You should read the important information about the definitionof the fees in the ‘Fees and costs’ section set out in the AIB. Referto the fees and costs for each relevant investment option withinthe IOL before making a decision. Go to the AdditionalInformation Brochure and the Investment Options List availableat clearview.com.au/Tools/pds-and-brochures. The materialrelating to ‘Fees and costs’ and the Investment Options List maychange between the time you read this document and the daywhen you acquire the product.

7. How super is taxedThe laws relating to super including tax laws can be complex. Youshould consult your financial adviser and/or tax professional onsuper rules and tax advice specific to your circumstances.

Tax on contributionsTax is payable on some contributions made to super accountsdepending on the amount and type of contribution. Generally taxpayable will be deducted from your account and paid to the AustralianTaxation Office (ATO) on your behalf.

Concessional or before-tax contributions are generally taxed in thePlan at a rate of 15%. Non-concessional or after-tax contributions arenot taxed in the Plan.

If you are classified as a high income earner, you may need to pay anadditional 15% tax on some or all of your concessional contributions.You will receive a notice of assessment from the ATO if you are liablefor this additional tax.

Contributions made by members who wish to claim a tax deductionon their contributions can be treated as concessional contributions.Contributions tax is generally deducted when we receive it or after we

7ClearView WealthFoundations

receive a personal tax deduction notice. While you may contribute asmuch as you like, there are limits (caps) on the amount of contributionsthat can be taxed at the standard contribution tax rates.

You may incur excess contributions tax if you exceed the contributioncaps. This will depend on your circumstances and the types ofcontributions made. Up-to-date information is available atato.gov.au/super.

Tax on earnings and incomeInvestment earnings, capital gains and income (including any feerebates applied) are taxed at a maximum rate of 15% inWealthFoundations Super and for TTR pensions. This is generally lowerthan the personal rate of tax that applies to income from most otherinvestments. Tax credits may apply to a WealthFoundations Pensionaccount.

Tax on withdrawalsThe amount of tax payable on a lump sum withdrawal if you are underthe age of 60 depends on your individual circumstances and theindividual tax components making up the benefit. There is generallyno tax payable on withdrawals when you are age 60 or over, or onrollovers to other super funds.

Providing your Tax File NumberWhen you join WealthFoundations you will be asked to provide yourTax File Number (TFN). You are not able to open a WealthFoundationsaccount without providing your TFN or a valid TFN exemption code.

You should read the important information about ‘How superworks’ and ‘How super is taxed’ before making a decision. Go tothe Additional Information Brochure available atclearview.com.au/Tools/pds-and-brochures. The materialrelating to ‘How super works’ and ‘How super is taxed’ maychange between the time you read this document and the dayyou acquire the product.

8. How to open an accountApplications for an account can only be made via your financial adviser.With your approval, your financial adviser can set up your account andmake certain changes to your account quickly and easily online. Onceyour account is set up you’ll also be able to make some changes online.Along with your annual Member Benefit Statement, which is providedto you in hard copy, you are able to access information on your accountand investments via ClearView Online, your secure online portal. Login via clearview.com.au.

The minimum initial investment to establish a pension account is$20,000. There is no minimum for super. Further information aboutsetting up an account with WealthFoundations can be found in theAIB. There are several key pieces of information we require before wecan open your account. If we don’t have all the information we needwe’ll contact you or your financial adviser. If we don’t receive this withinone month of us receiving the Application Form and/or investmentamount we will return the Application Form and any monies received.Preserved and restricted components of your account balance cannotbe transferred to you directly and must be transferred to anothercomplying super fund nominated by you.

If you change your mindYou are entitled to a 14-day cooling off period to decide whether youraccount meets your needs. Your 14-day cooling off period commencesat the earlier of:

you receiving confirmation of your initial contribution; orthe end of the fifth business day after you become a member.

Your cooling-off period will end earlier if you exercise any of your rightsas a member, for example by transacting on your account.

You can cancel your membership during the cooling-off period bycontacting us. The exit amount will be adjusted to take into accountany increase or decrease in the value of the investments, any taxpayable and administration costs. As a result, the amount returnedmay be less than the amount invested. Preserved and restrictedcomponents of your account balance cannot be transferred to youdirectly and must be transferred to another complying super fundnominated by you.

If you have a complaintWe aim to resolve any enquires or complaints from you as quickly aspossible. In the first instance please direct enquiries to your financialadviser. Otherwise, if you have a complaint, please call us on 132 977or write to the following address:

Complaints ManagerClearView WealthFoundationsReply Paid 4232Sydney NSW 2001

Email: complaints@clearview.com.au

We will review your complaint and provide you with a final responsethat includes reasons for our decision. If you are not satisfied with thefinal outcome of your complaint, or a satisfactory resolution is notreached within 90 days, you may lodge your complaint with theAustralian Financial Complaints Authority (AFCA). AFCA is the externaldispute resolution scheme for financial services complaints. For moreinformation on AFCA and their contact details please refer to 'Section9 Other information' of the AIB.

You should read the important information about ‘How youraccount works’, ‘How pensions work’ and ‘Other information’before making a decision. Go to the Additional InformationBrochure available at clearview.com.au/Tools/pds-and-brochures. The material relating to ‘How your account works’,‘How pensions work’ and ‘Other information’ may changebetween the time you read this document and the day youacquire the product.

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