transition to retirement pension - club plus super...you've worked hard to build your...
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Transition toRetirement PensionPRODUCT DISCLOSURE STATEMENT
Issued 1 October 2019
An application to join is at the back of this booklet.
This Product Disclosure Statement (PDS) for the TTR Pension hasbeen issued by Club Plus Superannuation Pty Limited [ABN 26 003217 990] AFSL No: 245362 Licence No: L0000529 [RSERegistration Number: R1000757] the Trustee of Club PlusSuperannuation Scheme (Club Plus Super) ABN 26 003 217 990.
Any advice in this document is of a general nature only and doesnot take into account your personal objectives, financial situationor needs. Prior to acting on any information in this document, youneed to take into account your own financial circumstances,consider the Product Disclosure Statement (PDS) for any productyou are considering and seek independent financial advice if youare unsure of what action to take.
The material contained in this PDS was up to date when it wasprepared. However, this information may be subject to change fromtime to time.
If the change is not materially adverse, we will keep membersinformed via the PDS Updates page on our website. You mayrequest a copy of any updated material free of charge by contactingus.
In the case of any inconsistency with this PDS and the Club PlusSuper trust deed, the trust deed will prevail. To request a copy ofthe PDS, phone us on 1800 204 194.
Contents
Section 1 About us
41 About us
Section 2 How a pension works
61 What is the Transition to Retirement (TTR) Pension?
72 Commencing your TTR Pension
83 Choosing your TTR pension amount and frequency
104 Pension valuation
115 Making withdrawals
126 What happens when you die?
147 How we keep you informed
Section 3 Risks of a pension
161 Understanding risk
Section 4 Choosing your investments
181 Overview
192 How we invest your money
203 Single asset class investment options
214 Pre-mixed investment options
Section 5 Fees and other costs
231 Fees and other costs
Section 6 How a pension is taxed
291 Taxation
Section 7 More information
311 Privacy
322 Cooling off period
333 Contact details
You've worked hard to build yourretirement savings. Let Club Plus Superhelp you turn the fruits of your labourinto a regular, tax-effective incomestream.Club Plus Super was established in 1987 to providesuperannuation for the club industry. Today we havemore than 70,000 members and over 20,000employers across Australia in a variety of businesses.As a public offer industry fund we are open to allinvestors and provide retirement solutions tomembers from all industries.
The Club Plus Transition to Retirement (TTR) Pensionis available to help you transition from working toretirement.
CONTACT US1800 210 098employer hotline:1800 680 627member hotline:1800 204 194pension hotline:1300 663 844Fax:Locked Bag 5042ParramattaNSW 2124
Address:
clubplussuper.com.auWeb:[email protected]:
4TTR Pension Product Disclosure Statement - October 2019
Section 1 About us
1 About us
5TTR Pension Product Disclosure Statement - October 2019
Members aged over their preservation age but underage 65 can access their super as a Transition toRetirement (TTR) Pension while continuing to work.Money is invested in your choice of investmentoptions, with a pension paid to you as long as thereis enough money in your account.
A superannuation pension gives you the flexibility tochoose how much pension you receive each year,subject to Commonwealth Government limits.
For more information about when you can access yoursuper and your preservation age, go toato.gov.au/individuals/super/withdrawing-and-using-your-super/
Preservation ageYour preservation age is the age you can access yoursuper if you are retired (or can start a transition toretirement income stream).
If you were born before 1 July 1960 you have alreadyreached your preservation age of 55 years and youcan access your super once you have met a conditionof release. If you were born after 1 July 1960 yourpreservation age depends on when you were born.
Preservation age based on date of birth:
Preservation ageDate of Birth
55Before 1 July 1960
561 July 1960 – 30 June 1961
571 July 1961 – 30 June 1962
581 July 1962 – 30 June 1963
591 July 1963 – 30 June 1964
60From 1 July 1964
Insurance in PensionInsurance cover is not available in the TTR division.If you hold insurance in the Industry or Personaldivision and want to continue your insurance coverwhen you commence a TTR pension, you will need tokeep your super account open with sufficient fundsto cover the cost of ongoing insurance premiums.Refer to the Insurance Booklet applicable to yourdivision for further information about insurance.
6TTR Pension Product Disclosure Statement - October 2019
Section 2 How a pension works
1 What is the Transition toRetirement (TTR) Pension?
Before completing the TTRPension Application and Tax FileNumber Declaration containedin this document, you shouldcarefully read the informationin this PDS.We also suggest that youconsult a qualified financialadviser. If you have anyquestions about the TTRPension, please contact ourPension Hotline on 1800 204194.
TTR Pension ApplicationTo start a TTR Pension, please complete the TTRpension application at the back of this PDS.
Important: Your pension cannot commence until wehave received a valid and complete application form,TFN declaration (if you are under the age of 60) andalso proof of identity.
Transferring money into your TTRPensionThe minimum investment to commence a Club PlusPension is $20,000. You can only investsuperannuation money into your TTR pension. Forexample, you can’t invest in a TTR Pension withmoney directly from your bank account. Subject tocontribution limits set by the Government, you maybe eligible to contribute that money to yoursuperannuation account and from there, roll it to aTTR Pension.
You cannot contribute to your pension once it hascommenced. If at a later date you want to put moremoney in a pension, you can start another one(keeping your existing pension) and receive paymentsfrom two (or more) pensions. Alternatively, you maybe able to add money to your superannuation accountand then combine your super and pension into a newpension.
Please consult a qualified financial adviser beforetransferring lump sum amounts to super in order toestablish a pension or combining your superannuationand pension.
If you’re starting a TTR Pension and want to keep yourClub Plus Super account active, you must leave atleast $6,000 in your super account.
What investment options areavailable?You are able to select one or a combination ofdifferent investment options. If you do not select aninvestment option, your money will be invested in thesame investment option(s) that your superannuationaccount was invested in prior to the transfer.
You may transfer (switch) part or all of your accountbalance between investment options and this can bedone online via MemberAccess.
7TTR Pension Product Disclosure Statement - October 2019
2 Commencing yourTTR Pension
You must nominate the amount and frequency ofpension payments you want to receive from your TTRPension (subject to the minimum and maximumpension payments) and provide details of theAustralian bank, building society or credit unionaccount into which the payment should be made. TTRPension payments can only be made by direct creditto your nominated account which must be held (solelyor jointly) in your name. TTR Pension payments arenot made by cheque.
TTR Pension payment frequency and payment datesare shown in the table below:
PAYMENT DATEFREQUENCY
5th and 20th of each monthTwice-monthly
20th of each monthMonthly
20 March, June, September andDecember
Quarterly
20 June and DecemberHalf-yearly
20 JuneYearly
If the 5th or the 20th is a weekend, public holiday orbank holiday in New South Wales, the pensionpayment will occur on the preceding business day.
Changing your bank details ornominated amountShould you need to change your nominated Australianbank, building society or credit union account, youwill need to advise Club Plus Super by completing thePension Change of Details form.
You can also change your nominated pension amountor frequency at any time throughout the year providedyou receive at least the minimum amount.
If a change request is received at least ten businessdays prior to a pension payment, the change will takeeffect from that pension payment. If not, the changemay not be processed in time for that scheduledpayment.
If your minimum pension amount has not beenreached by the date the last payment is due to bemade to you in the financial year, an additionalpayment will be made to ensure the minimum amountis paid.
If the maximum pension amount is reached duringthe financial year, the relevant payment will bereduced to ensure the maximum amount is notexceeded. No further pension payments can be madeto you for that year.
8TTR Pension Product Disclosure Statement - October 2019
Section 2 How a pension works
3 Choosing your TTRpension amount and frequency
Maximum paymentsIf you have not met a condition of release of apreserved benefit, the maximum pension you canreceive is 10% of your pension account balance perannum.
Minimum paymentsThe Commonwealth Government sets limits on theminimum amount that you can receive as a pensionin any twelve-month period to 30 June based on yourage as at 1 July each year.
LEGISLATED MINIMUM PERCENTAGE AGE
4% Under 65
5% 65 – 74
6% 75 – 79
7% 80 – 84
9% 85 – 89
11% 90 – 94
14% 95 or older
The limits are calculated on your initial deposit andthen recalculated on your balance at 1 July each yearthereafter. You will be advised of the limits for eachyear and will receive a form to nominate your newpension amount annually. If you do not advise a newamount, your pension will generally continue at theprevious level. However, if that amount is less thanthe minimum limit for that year, the pension paymentwill be increased to the minimum. If you commenceyour pension between 1 June and 30 June, you donot need to take the minimum pension amount forthe year. Where an income stream commences partway through the financial year, the minimum incomepayment is pro-rated based on the days remaining inthe year.
How long will TTR pension paymentscontinue?Club Plus Super makes pension payments from youraccount until there is insufficient balance to makepension payments or until you withdraw your pension.The length of time your pension payments continuedepends on the value of your investment, the amountof pension income you take each year, and theinvestment performance of the investment option(s)you choose. There is no guarantee that your pensionpayments will continue for life.
9TTR Pension Product Disclosure Statement - October 2019
Daily unit pricingDaily Unit Pricing
Unit pricing applies to each of the six investmentoptions available in TTR Pension and this methodologyis used to calculate and report on your accountbalance. Any deduction from your account such asregular pension payments, withdrawals, transfers out,taxes and administration charges will be processedusing the unit ‘sell’ price in your selected investmentoption(s).
How are unit prices calculated?
Unit prices are declared by the close of each businesseach day and are calculated after an estimate of taxesis deducted. The unit prices of investment optionsvary daily and is reflected in your super balance.
Club Plus Super reserves the right to publish unitprices more or less often in the event of adversemarket fluctuation or other circumstances at theTrustee’s discretion, such as where there isinsufficient information available to determineapplicable unit prices.
If we are unable to calculate unit prices for aninvestment option, that option will be suspended,meaning you will be unable to buy or sell units fromit. If this happens, we will let you know on ourwebsite.
Unit pricing informationDaily unit prices are included on the website atclubplussuper.com.au/investments.
You can also check your account balance, the numberof units and the unit price for each of your selectedinvestment options online via MemberAccess atclubplussuper.com.au/memberaccess.
10TTR Pension Product Disclosure Statement - October 2019
Section 2 How a pension works
4 Pension valuation
How are withdrawals treated?Any income stream payments you take are generallytaxed at your marginal tax rate less a 15% offset*, ifyou are eligible. If you take any additional incomestream payments you should ensure it is within the10% maximum you are allowed for the financial yearending 30 June 2020. The tax treatment will be thesame as your standard payments*.
If you make a lump sum withdrawal of yourunrestricted benefits, also called a commutation, theyare treated as a superannuation lump sum for taxpurposes* and you have access to the lifetime lowrate cap of $210,000 for the financial year ending30 June 2020. This is an indexed amount and theassessable amount of the lump sum payment isgenerally tax-free up to this cap.
*If you are over age 60, these payments will be tax-free
Each option will be treated differently by Centrelinkand may affect any payments made under the IncomeTest.
Important: The rules for age pension entitlement arefairly complex. It is recommended that you consultCentrelink or speak to an independent qualifiedfinancial adviser to ensure you maximise yourentitlements.
Conditions of releaseOther than any unrestricted benefits you may have,you cannot withdraw any of your pension as a lumpsum until you meet one of the following conditions ofrelease:
Reached your preservation age and permanentlyretired from the workforce;Aged between 60 and 65, and ceasedemployment with your current employer(s) afterreaching age 60 years;Aged 65 or over;You satisfy the conditions for PermanentIncapacity;You satisfy the conditions for Terminal Illness.
Other conditionsThe minimum amount that can be withdrawn is$1,000. If your account balance is less than $1,000then you must withdraw the entire balance.
Depending on your account balance, a withdrawalmay not affect pension payments for the current year.However, it will affect the amount of pension that youcan take the following year (when the minimum andmaximum amounts are recalculated).
Any withdrawal will also affect the ability of thepension to continue to provide a reasonable incomefor the remainder of your life.
Effect of withdrawals on investmentoptionsYou are able to nominate the investment option(s)from which payments are to be taken.
For example, if you have invested 50% of your pensionaccount in the Balanced option and 50% in the Cashoption, you may want pension payments or awithdrawal to be made from the amount in the Cashoption. This will continue until the amount availablein that option has been reduced to zero.
11TTR Pension Product Disclosure Statement - October 2019
5 Making withdrawals
On your death, the remaining balance of your pensionaccount will be paid in one of three ways:
1. As a reversionary pension2. As a death benefit to your beneficiary(ies)
under a binding nomination3. As a death benefit payment to your
beneficiary(ies) under a non-bindingnomination or no nomination
Reversionary pensionA reversionary pension is paid if you elect areversionary beneficiary for your pension. This meansthe pension you were receiving prior to your death willbecome immediately payable to your reversionarybeneficiary.
A reversionary beneficiary is someone you nominateto receive your pension on your death.
Who can I nominate?
You may nominate your spouse (including a de-factospouse), or in limited circumstances, your child, asyour reversionary beneficiary. If you nominate areversionary beneficiary for your TTR Pension youcannot nominate any other beneficiary.
What information should be provided for areversionary pension?
In order to claim a reversionary pension, the followinginformation will be required:
Your membership details;Date of death;A certified copy of the death certificate;A certified copy of the beneficiaries birthcertificate; andA certified copy of a marriage certificate (ifapplicable).Such other information as required by theTrustee that establishes the claimant as aspouse or child of the deceased member at thetime of death.
Binding Death Benefit NominationIf there is no reversionary beneficiary, you can makea Binding Death Benefit Nomination, which is a writtendirection to the Trustee of Club Plus Super nominatingwho you want to receive your benefit in the event ofyour death. If your nomination is valid and in effectat the date of your death, the Trustee must pay yourbenefit to the named beneficiary(ies) in your bindingdeath nomination direction.
Who can I nominate?
You may nominate one or more of your dependantsand/or legal personal representatives. However,please ensure the percentage allocations of the totalsum to 100%.
How long is your nomination valid for?
A Binding Death Benefit Nomination remains in effectfor three years from the date it is first signed, lastamended or confirmed.
Can I cancel or amend my nomination?
You may cancel or alter your nomination any time byproviding written notice to the Trustee, signed anddated by you in the presence of two witnesses (bothmust be over 18 years of age, neither of whom are anominated beneficiary).
Non-Binding Death Benefit Nomination
You may advise the Trustee as to whom you wish toreceive your death benefit. If you wish to nominateone or more beneficiaries, they must be a dependantor your Legal Personal Representative. The Trusteewill take your nomination into consideration, butultimately the Trustee has the discretion to decidewho will receive your death benefit.
To nominate a beneficiary, complete Section 9 on theTTR Pension Application. To update your beneficiarynominations at a later date, simply complete aChange to membership details form, or log in to youraccount at clubplussuper.com.au/memberaccess.
Where no nomination is made
Upon your death, if there is no reversionary beneficiaryand there is no valid binding death benefit nomination,the remaining balance of your TTR Pension accountis payable in accordance with the Trust Deed to yourdependants or Legal Personal Representative as alump sum.
Who can receive death benefit payments?
Where no valid reversionary or binding nominationexists at the time of death, the Trustee must takeinto account all potential dependants when assessinga claim, not just your nominated preferredbeneficiaries. This and other legal requirements oftencomplicate the payment process so it may be sometime before your death benefit is paid.
Every effort is made to process benefits as quicklyas possible.
12TTR Pension Product Disclosure Statement - October 2019
Section 2 How a pension works
6 What happenswhen you die?
The Trustee is limited to paying your death benefit tothe following people:
A dependant; orYour Legal Personal Representative (i.e. executoror administrator of your estate); orIf none of the above apply, then to any personor party that the Trustee deems appropriate.
A dependant is:
your spouse and children; orthose in an interdependency relationship withyou; orany other individuals who are financiallydependent on you.
Your ‘spouse’ means your husband or wife or anotherperson (whether of the same sex or a different sex)with whom you are in a relationship with that isregistered under a law of a State or Territory; oranother person who, although you are not legallymarried to, lives with you on a genuine domestic basisas a couple.
Your ‘children’ includes step, adopted and ex-nuptialchildren, a child of your spouse and someone who isa child of the person within the meaning of the FamilyLaw Act 1975. This includes a child who was born ofa woman as the result of an artificial conceptionprocedure while the woman was married to, or in ade-facto relationship with, another person (whetherof the opposite or same sex), or a child who wasconceived via a surrogacy agreement but is deemedto be the child of a person under a state or territorycourt order.
What is an interdependency relationship?
An interdependency relationship is defined as:
a close personal relationship between twopeople who live together; andwhere one or both provides for the financial,domestic and personal support of the other.
However, the term is not intended to extend to thosewho share accommodation for convenience (e.g.flatmates). Further, it is not intended to include thosewho provide care as part of an employmentrelationship (e.g. a live-in nanny or housekeeper) oron behalf of a charity.
13TTR Pension Product Disclosure Statement - October 2019
When you start a TTR PensionA membership account is set up with your personaland financial details.
You will receive a Welcome Letter confirming:
your membership of the TTR Pension;your personal details (e.g. name, address, dateof birth);the minimum and maximum pension amountsyou receive in the financial year you started yourpension;the initial investment amount used to commenceyour pension;details of any deductions or rebates that mayreduce tax;any tax that may be deducted from your pensionpayments each month;your nominated pension amount and frequency;the bank, building society or credit union detailsyou provided us;the investment option(s) your TTR Pension isinvested in;details of reversionary, Binding Beneficiaries andor Non-Binding Beneficiaries (if applicable).The Welcome Letter will also contain yourmember number and details of any lump sumbeneficiaries. Please quote this member numberwhenever you contact us.
Important: Your TTR Pension will automatically convertto a retirement account based pension on your 65thbirthday. You will receive confirmation of the transferand information about your Club Plus Pensionaccount. Your pension balance will be reported to theATO for transfer balance cap purposes. Your TTRPension can also be converted to a retirementpension if you advise us that you have retired priorto age 65. This will mean you are able to take lumpsum payments from your account and investmentearnings in your account will be tax free.
Online MemberAccessYou can access your pension account whenever itsuits you by registering for MemberAccess.
You can update your details, check your balance,switch your account balance, see the number of unitsyou own and most recent unit price, change yourbeneficiaries and more.
Register at clubplussuper.com.au/memberaccess.
Member StatementsEach year, you will receive an Annual MemberStatement that will confirm:
your account balance at 30 June;investment performance;pension payments made during the year;tax deducted (if appplicable);details of any lump sum payments;details of fees deducted from your account; and,minimum and maximum pension available toyou for the following year.
If you were under age 60 during the year while youheld a pension account, you will also receive a PAYGPayment Summary. A copy of this document must besubmitted with your tax return. As there is no taxpayable on payments after your 60th birthday, youwill not receive a Payment Summary if you were 60or over for the full year.
Fund Annual ReportOur Annual Report is published on our website in lateOctober. This report contains information about ClubPlus Super, including its financial position,performance, product changes and changes tosuperannuation in general. To request a printed copyof the report, please call 1800 204 194.
14TTR Pension Product Disclosure Statement - October 2019
Section 2 How a pension works
7 How we keepyou informed
15TTR Pension Product Disclosure Statement - October 2019
Understanding riskWhen it comes to investing, risk refers to thelikelihood of an investment producing a negativereturn or performing unexpectedly.
The level of risk suitable for you depends on your age,how long you’ll be invested in super, any otherinvestments you have and your risk tolerance.
In the short term, the risk of negative returns is highfor some asset classes due to market volatility.However, these negative returns will only be realisedif you withdraw from super at that time. Over a longerterm, risk is reduced because you have more time toride out market volatility.
Attitude to riskChoosing a suitable investment generally comes downto your tolerance for risk and the time you haveavailable to invest. There are two important risks insuper that affect your attitude to risk:
1. Inflation risk
The goal of your super is to build enough money forretirement. This means your investment needs tooutperform inflation. If it doesn’t, the money in yoursuper will buy less in the future than it would if youcould access it today.
All Club Plus Super investment options aim tooutperform inflation. Our pre-mixed options each havespecific return targets above inflation.
2. Market volatility
Compared to low-risk investments, higher-riskinvestments have greater potential to outperforminflation over time. Due to their exposure to sharemarkets, the value of high-risk investments can godown as well as up. Indeed, for some asset classesnegative returns are very normal over the short term.For that reason, it’s worth considering howcomfortable you are with the value of your superbalance fluctuating over the life of your investment –remembering that super is meant to be a long terminvestment.
Investment objectivesYour age and attitude to risk plays a big part inunderstanding your investment objectives. If you havea sizable amount of money invested and only a fewyears left until you retire, you might consider reducing
your exposure to more volatile assets like equities infavour of more conservative ones like cash and termdeposits.
Importantly, investing too conservatively may alsocome with its’ own risks. For example, investingeverything in cash risks the possibility of not keepingup with inflation.
The best way to ensure your investments continue tomeet your needs is through regular consultations witha financial adviser.
Investment risksAll investments carry some form of risk, the mostcommon of which are outlined below.
Adequacy risk
This is the risk of an investment not generatingenough income to meet your expenses throughoutretirement.
Currency risk
Occurs when offshore investments go down in valueor lose money due to movements in foreign currencyexchange rates and global markets.
Inflation risk
Also known as purchasing power risk, this is the riskof an investment not keeping up with or out-performinginflation.
Interest rate risk
This is the risk of an investment suffering as a resultof unexpected interest rate changes and inflation.This may be caused by political, economic ortechnological changes. Interest rate risks can bereduced by diversifying an investment’s assetportfolio.
Liquidity risk
Usually associated with real estate or infrastructureassets which take time to offload, liquidity risk refersto the possibility of being unable to sell an investmentfast enough to access cash at a fair price and whenit’s needed.
Longevity risk
Like adequacy risk, longevity risk refers to thelikelihood of retirees outliving their retirement savings.
16TTR Pension Product Disclosure Statement - October 2019
Section 3 Risks of a pension
1 Understanding risk
Market risk
Market risk refers to the chance of an investmentbeing affected by investment market fluctuations,resulting from economic conditions, governmentregulations, market sentiment, international eventsand politics.
Security specific risk
This refers to the risk associated with investing in aspecific company. Changes in management, loss ofa major customer, a large product or service failureand reputation damage can all negatively impactreturns from an investment in a company.
Standard Risk MeasureThe Standard Risk Measure (SRM) is based onindustry guidelines. It helps investors in supercompare options that are expected to deliver a similarnumber of negative annual returns over any 20-yearperiod. However the Standard Risk Measure is not acomplete assessment of all forms of investment riskor over all time periods.
The Standard Risk Measure for each investmentoption is disclosed in this document in Section 3'Investment Options'. It is presented as the'Short-term' risk in the Risk level table as it isassesses returns over annual periods. Eachinvestment option is given a relevant 'short-term' riskband label as set out in the table below:
ESTIMATED NUMBER OFNEGATIVE ANNUAL RETURNSOVER ANY 20 YEAR PERIOD
RISK LABELRISKBAND
Less than 0.5Very low1
0.5 to less than 1Low2
1 to less than 2Low to medium3
2 to less than 3Medium4
3 to less than 4Medium to high5
4 to less than 6High6
6 or greaterVery high7
ImportantAs with any service that uses technology, there is somerisk that the administration system’s hardware andsoftware may fail, causing a delay in the processingand reporting of your account. We do not acceptresponsibility if this was to happen and the failure wasoutside of our control. We have sought to address this
risk and the risks associated with other unforeseencircumstances by implementing a disaster recoveryplan and business continuity arrangements. Thisincludes manual processes and nightly backups of oursystems and data.
17TTR Pension Product Disclosure Statement - October 2019
Your investment optionsThe TTR Pension offers you the choice ofsix investment options. Each investment option hasa varying level of risk and potential return. Pleasenote that benefits are not guaranteed and the valueof investments may rise or fall. When choosing whichoption(s) to invest in, you should consider the likelyinvestment return, the risk and your investmenttimeframe. For all investment options returns arepassed on through unit prices. You can invest yourmoney in one or more of these options.
The six investment options are:
CashConservative BalancedBalancedGrowthAustralian SharesInternational Shares
Switching investmentsYou can request to change (switch) investmentoptions as often as you like. You can request toswitch your investment options via MemberAccess atclubplussuper.com.au/memberaccess or you candownload the Pension change of details form fromclubplussuper.com.au/members/members-portal/forms-pds/pension-forms/.
Switches will be processed two business days afterthe request is received using the price(s) availableas at the date of processing.
Please note: There is no fee to switch your account,however buy/sell spreads may apply to switches. Abusiness day does not include a NSW public holidayor bank holiday.
Making a switchYou may invest in one or more investment options,provided:
Percentages allocated to investment options arewhole numbers (e.g. 10%, 27% - not 10.3%,27.8%).The total percentage of your chosen investmentoptions amounts to 100%.
If the option allocations nominated on your TTRPension Application or Pension change of details formdon’t amount to 100%, we must return them to you.
18TTR Pension Product Disclosure Statement - October 2019
Section 4 Choosing yourinvestments
1 Overview
Investment Choice informationHow we invest your money
To assist you with making an investment choice, weprovide a range of managed investment optionsacross the full risk and return investment spectrum.When choosing which option to invest in, you havethe flexibility to invest in one or more options that areappropriately aligned with your own investment goals,risk profile and investment timeframe.
Our investment approach
We have developed our investment approach aroundour core investment beliefs. We believe investing witha long-term focus, combined with strong governanceprinciples and a thorough due diligence investmentapproach, will aim to maximise retirement outcomesfor our members.
We employ an active management approach to findvalue in inefficient markets and look for opportunitiesoutside of traditional investments aiming to achieveadditional returns for our members.
We use diversification, asset allocation rebalancingand currency hedging to manage risk in our portfolios.
The Strategic Asset Allocation (SAA) for each specificinvestment option is assumed to remain unchangedthroughout the year, however the actual assetallocation will vary over time and will be maintainedwithin the benchmark ranges.
The level of investment risk (referred to as theStandard Risk Measure) is based on industryguidelines to allow members to compare investmentoptions that are expected to deliver a similar numberof negative annual returns over any 20 year period.
Important information about investment returns
Past performance is not a reliable indication of futureperformance. Investment returns are reflected in thedaily unit price of each investment option. Daily unitprices are available atclubplussuper.com.au/investments.
Review and appointment of investmentmanagersWe have engaged specialist investment managersacross all asset classes. Each asset class containsa mix of investment managers that are appointed tocomplement each other to provide adequatediversification while aiming to deliver on investmentreturn objectives within the asset class. Together with
our Investment Consultant (JANA Investment AdvisersPty Limited), we monitor the performance of ourinvestment managers. Before adding or replacinginvestment managers, we shortlist suitablecandidates in consultation with our investmentconsultant. Thorough due diligence is completed priorto the appointment or change of investmentmanagers.
DerivativesInvestment managers employed by Club Plus Superare permitted to use derivatives for hedging purposes,but not to engage in speculative activity.
Socially responsible investmentsThe Trustee’s investment consultant, JANA InvestmentAdvisers, evaluates all investment managersconsidered for possible selection as an investmentmanager for Club Plus Super, on various criteria,including on their Environmental, Social andGovernance (ESG) credentials. ESG credentialsinclude (but are not limited to) assessment of how amanager takes into account labour standards andESG considerations in their investment managementactivities and decision making. JANA assesses eachmanager on a peer relative basis and no investmentmanager is approved for possible selection wheretheir processes and performance in relation to ESGare considered to be “below average”.
For current investment managers for Club Plus Super,JANA periodically monitors the manager’s executionof their stated ESG approach and may report to theTrustee in relation to a manager’s consideration andimplementation of relevant ESG factors into specificinvestment decision making changes materially orbecomes a matter of particular interest or concern.It is on this limited basis that the Trustee of Club PlusSuper takes into account ESG factors in theappointment and retention of its investment managersin consultation with its investment consultant JANA. Inturn, it is the Fund’s investment managers that takeinto account ESG factors in their management ofinvestments (including selection; retention andrealisation of investments) for Club Plus Super.
19TTR Pension Product Disclosure Statement - October 2019
2 How we investyour money
Single asset class investment options allow you to customise your super portfolio. Alternatively, you can specialiseby combining several options.
Cash
Suggested investment timeframe
AnyThe Cash option is designed formembers with a short investmenthorizon (three years or less), who are
8
Managed Investments Section A
Club Plus Super Investment Booklet - October 2019
2 Range of investment options (cont.)
Cash
The Cash option is designed for members with a short investment horizon (three years or less), who are seeking cash-like returns with virtually no chance of capital loss.
Investment objective
To outperform the Bloomberg AusBond Bank Bill Index over rolling 10 year periods.
Suggested investment timeframe
Any
Risk level for the time invested
Short-term
Medium-term
Long-term
Very low Low Low to medium
A negative annual return is expected less than 0.5 out of every 20 years. Cash 100%
Strategic asset allocation
Australian Shares
The Australian Shares option is designed for members with a long term investment horizon (ten years or more) who are seeking Australian equity returns and can tolerate very high levels of volatility.
Investment objective
Outperform the return of the S&P/ASX 300 Index, after tax and investment manager fees over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term
Medium-term
Long-term
Very high Medium to high
Low to medium
A negative annual return is expected 6 or greater out of every 20 years. Australian Shares 100%
Strategic asset allocation
International Shares
The International Shares option is designed for members with a long term investment horizon (ten years or more) who are seeking International equity returns and can tolerate very high levels of volatility.
Investment objective
Outperform the return of the MSCI AC World Ex-Australia, after tax and investment manager fees over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term
Medium-term
Long-term
Very high Medium to high
Low to medium
A negative annual return is expected 6 or greater out of every 20 years. International Shares 100%
Strategic asset allocation
Risk level for the time investedseeking cash-like returns. This exposureis currently gained via an ANZ bankaccount.
Investment objective
To outperform Bloomberg AusBond BankBill Index over rolling 10 year periods.
Long-term
Medium-term
Short-term
Low tomedium
LowVery low
A negative annual return is expectedless than 0.5 out of every 20 years.
Australian Shares
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
The Australian Shares option is designedfor members with a long terminvestment horizon (ten years or more)who are seeking Australian equityreturns and can tolerate potential veryhigh levels of short term volatility.
Investment objective
Outperform the return of the S&P/ASX300 Index, after tax and investmentmanager fees over rolling 10 yearperiods.
16
Managed Investments Section A
Club Plus Super Investment Booklet - October 2019
2 Range of investment options (cont.)
Cash
The Cash option is designed for members with a short investment horizon (three years or less), who are seeking cash-like returns with virtually no chance of capital loss.
Investment objective
To outperform the Bloomberg AusBond Bank Bill Index over rolling 10 year periods.
Suggested investment timeframe
Any
Risk level for the time invested
Short-term
Medium-term
Long-term
Low Low Low
A negative annual return is expected less than 0.5 out of every 20 years. Cash 100%
Strategic asset allocation
Australian Shares
The Australian Shares option is designed for members with a long term investment horizon (ten years or more) who are seeking Australian equity returns and can tolerate very high levels of volatility.
Investment objective
Outperform the return of the S&P/ASX 300 Index, after tax and investment manager fees over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term
Medium-term
Long-term
High Medium to High
Medium
A negative annual return is expected 6 or greater out of every 20 years. Australian Shares 100%
Strategic asset allocation
International Shares
The International Shares option is designed for members with a long term investment horizon (ten years or more) who are seeking International equity returns and can tolerate very high levels of volatility.
Investment objective
Outperform the return of the MSCI AC World Ex-Australia, after tax and investment manager fees over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term
Medium-term
Long-term
High Medium to High
Medium
A negative annual return is expected 6 or greater out of every 20 years. International Shares 100%
Strategic asset allocation
Long-term
Medium-term
Short-term
Low tomedium
Medium tohigh
Very High
A negative annual return is expected 6or greater out of every 20 years.
International Shares
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
The International Shares option isdesigned for members with a long terminvestment horizon (ten years or more),who are seeking International equityreturns and can tolerate potential veryhigh levels of short term volatility.
Investment objective
Outperform the return of the MSCI ACWorld Ex-Australia Index, after tax andinvestment manager fees over rolling 10year periods.
16
Managed Investments Section A
Club Plus Super Investment Booklet - October 2019
2 Range of investment options (cont.)
Cash
The Cash option is designed for members with a short investment horizon (three years or less), who are seeking cash-like returns with virtually no chance of capital loss.
Investment objective
To outperform the Bloomberg AusBond Bank Bill Index over rolling 10 year periods.
Suggested investment timeframe
Any
Risk level for the time invested
Short-term
Medium-term
Long-term
Low Low Low
A negative annual return is expected less than 0.5 out of every 20 years. Cash 100%
Strategic asset allocation
Australian Shares
The Australian Shares option is designed for members with a long term investment horizon (ten years or more) who are seeking Australian equity returns and can tolerate very high levels of volatility.
Investment objective
Outperform the return of the S&P/ASX 300 Index, after tax and investment manager fees over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term
Medium-term
Long-term
High Medium to High
Medium
A negative annual return is expected 6 or greater out of every 20 years. Australian Shares 100%
Strategic asset allocation
International Shares
The International Shares option is designed for members with a long term investment horizon (ten years or more) who are seeking International equity returns and can tolerate very high levels of volatility.
Investment objective
Outperform the return of the MSCI AC World Ex-Australia, after tax and investment manager fees over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term
Medium-term
Long-term
High Medium to High
Medium
A negative annual return is expected 6 or greater out of every 20 years. International Shares 100%
Strategic asset allocation
Long-term
Medium-term
Short-term
Low tomedium
Medium tohigh
Very high
A negative annual return is expected 6or greater out of every 20 years.
20TTR Pension Product Disclosure Statement - October 2019
Section 4 Choosing yourinvestments
3 Single asset classinvestment options
Pre-mixed investment options give you a combination of asset classes, from growth, defensive and alternativeassets.
Conservative Balanced
6
2 Range of investment options
Investment optionsSection 2
Club Plus Super Investment Booklet - October 2019
Balanced
Australian Shares 25% (17-37%)
International Shares 25% (17-37%)
Direct Property 11% (0-15%)
Infrastructure 6% (0-15%)
Growth Alternatives 9% (0-15%)
Total growth assets 76% (60-80%)
Defensive Alternative 7% (0-20%)
Australian Bonds 6% (0-15%)
International Bonds 6% (0-20%)
Cash Enhanced 5% (0-20%)
Total defensive assets 24% (20-40%)
This option is designed for members with a medium to long term investment horizon (fi ve years or more) who are seeking a steady rate of returns and can tolerate moderate to high levels of volatility.
Investment objective
CPI + 3% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 5 years
Risk level for the time invested
Short-term Medium-term Long-term
High Medium Low
A negative annual return is expected between 4 and 6 out of every 20 years.
Strategic asset allocation
Conservative Balanced
Australian Shares 5% (0-25%)
International Shares 5% (0-20%)
Direct Property 10% (0-15%)
Infrastructure 5% (0-10%)
Growth Alternatives 10% (0-15%)
Total growth assets 35% (25-45%)
Defensive Alternative 18% (0-25%)
Australian Bonds 9% (0-30%)
International Bonds 8% (0-20%)
Cash Enhanced 30% (0-40%)
Total defensive assets 65% (55-75%)
The Conservative Balanced option is designed for members with a short to medium investment horizon (three years plus) who are seeking medium to low levels of consistent return and are sensitive to volatility.
Investment objective
CPI + 1.5% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 5 years
Risk level for the time invested
Short-term Medium-term Long-term
Medium Low to medium
Very low
A negative annual return is expected between 2 and 3 out of every 20 years.
Strategic asset allocationThe Conservative Balanced option is designedfor members with a short to mediuminvestment horizon (three years plus) who areseeking low to medium levels of consistentreturn and are sensitive to short termvolatility.
Investment objective
CPI + 1.5% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 3 years
Risk level for the time invested
Long-termMedium-termShort-term
Very lowLow to
mediumMedium
A negative annual return is expected between2 and less than 3 out of every 20 years.
Balanced
6
2 Range of investment options
Investment optionsSection 2
Club Plus Super Investment Booklet - October 2019
Balanced
Australian Shares 25% (17-37%)
International Shares 25% (17-37%)
Direct Property 11% (0-15%)
Infrastructure 6% (0-15%)
Growth Alternatives 9% (0-15%)
Total growth assets 76% (60-80%)
Defensive Alternative 7% (0-20%)
Australian Bonds 6% (0-15%)
International Bonds 6% (0-20%)
Cash Enhanced 5% (0-20%)
Total defensive assets 24% (20-40%)
This option is designed for members with a medium to long term investment horizon (fi ve years or more) who are seeking a steady rate of returns and can tolerate moderate to high levels of volatility.
Investment objective
CPI + 3% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 5 years
Risk level for the time invested
Short-term Medium-term Long-term
High Medium Low
A negative annual return is expected between 4 and 6 out of every 20 years.
Strategic asset allocation
Conservative Balanced
Australian Shares 5% (0-25%)
International Shares 5% (0-20%)
Direct Property 10% (0-15%)
Infrastructure 5% (0-10%)
Growth Alternatives 10% (0-15%)
Total growth assets 35% (25-45%)
Defensive Alternative 18% (0-25%)
Australian Bonds 9% (0-30%)
International Bonds 8% (0-20%)
Cash Enhanced 30% (0-40%)
Total defensive assets 65% (55-75%)
The Conservative Balanced option is designed for members with a short to medium investment horizon (three years plus) who are seeking medium to low levels of consistent return and are sensitive to volatility.
Investment objective
CPI + 1.5% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 5 years
Risk level for the time invested
Short-term Medium-term Long-term
Medium Low to medium
Very low
A negative annual return is expected between 2 and 3 out of every 20 years.
Strategic asset allocation
This option is designed for members with amedium to long term investment horizon (fiveyears or more) who are seeking a steady rateof returns and can tolerate potential moderateto high levels of short term volatility.
Investment objective
CPI + 3% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 5 years
Risk level for the time invested
Long-termMedium-termShort-term
LowMediumHigh
A negative annual return is expected between4 and less than 6 out of every 20 years.
21TTR Pension Product Disclosure Statement - October 2019
4 Pre-mixedinvestment options
Growth
7Club Plus Super Investment Booklet - October 2019
Growth
Australian Shares 28% (18-38%)
International Shares 28% (18-38%)
Direct Property 12% (0-15%)
Infrastructure 7% (0-15%)
Growth Alternatives 11% (0-15%)
Total growth assets 86% (75-95%)
Defensive Alternative 6% (0-20%)
Australian Bonds 3% (0-15%)
International Bonds 2% (0-15%)
Cash Enhanced 3% (0-15%)
Total defensive assets 14% (5-25%)
The Growth option is designed for members with a long term investment horizon (seven years or more) who are seeking high levels of return and can tolerate high levels of volatility.
Investment objective
CPI + 3.5% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 7 years
Risk level for the time invested
Short-term Medium-term Long-term
High Medium Low
A negative annual return is expected between 4 and 6 out of every 20 years.
Strategic asset allocation
High Growth
Australian Shares 35% (25-45%)
International Shares 35% (25-45%)
Direct Property 12% (0-15%)
Infrastructure 7% (0-15%)
Growth Alternatives 11% (0-15%)
Total growth assets 100% (95-100%)
Defensive Alternative 0% (0%)
Australian Bonds 0% (0%)
International Bonds 0% (0%)
Cash Enhanced 0% (0%)
Total defensive assets 0% (0-5%)
The High Growth option is designed for members with a long term investment horizon (ten years or more) who are seeking equity like returns and can tolerate very high levels of volatility.
Investment objective
CPI + 4% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 10 years
Risk level for the time invested
Short-term Medium-term Long-term
Very high Medium to high
Low
A negative annual return is expected between 4 and 6 out of every 20 years.
Strategic asset allocation
The Growth option is designed for memberswith a long term investment horizon (sevenyears or more) who are seeking high levelsof returns and can tolerate potential highlevels of short term volatility.
Investment objective
CPI + 3.5% p.a. over rolling 10 year periods.
Suggested investment timeframe
Minimum 7 years
Risk level for the time invested
Long-termMedium-termShort-term
LowMediumHigh
A negative annual return is expected between4 and less than 6 out of every 20 years.
22TTR Pension Product Disclosure Statement - October 2019
Section 4 Choosing yourinvestments
4 Pre-mixedinvestment options
CONSUMER ADVISORY WARNINGDID YOU KNOW?
Small differences in both investment performance and fees and costs can have a substantial impact on yourlong term returns.
For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce yourfinal return by up to 20% over a 30 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 bettermember services justify higher fees and costs.
You or your employer may be able to negotiate to pay lower administration 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 AustralianSecurities and Investments Commission (ASIC) website (www.moneysmart.gov.au) has a superannuation fee
calculator to help you check out different fee options.
Fees and other costs for the Balanced investment optionThis document shows fees and other costs that you may be charged. These fees and other costs may bededucted from your money, from the returns on your investment or from the assets of the superannuation entityas a whole.
Other fees, such as activity fees, advice fees for personal advice may also be charged, but these will dependon the nature of the activity, advice chosen by you. Entry fees and exit fees cannot be charged.
Taxes are set out in other sections of this document.
You should read all the information about fees and other costs because it is important to understand theirimpact on your investment.
How and when paidAmountType of fee
Deducted before unit prices aredetermined
0.76% p.a.Investment fee 1,2
Deducted monthly on the last Friday ofeach month
$93.60 p.a. ($1.80 per week) +0.20% p.a. of your account balanceat the end of each month
Administration fee
Not applicableBuy spread: 0.00%Sell spread: 0.00%
Buy-sell spreads
Not applicableNilSwitching fee
Not applicableNilAdvice fees relating to all membersinvesting in a particular product orinvestment option
Not applicable0%Other fees and costs3
Not applicable0%Indirect cost ratio
1 If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, thetotal combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance.Any amount charged in excess of that cap must be refunded.
2 Investment Fees and Buy/Sell spreads for other investment options are shown in the Investment Fees table in the 'Additional explanationof fees and costs' section.
3 Other fees such as activity fees may apply. Refer to the ‘Additional Explanation of Fees and Costs’ section.
23TTR Pension Product Disclosure Statement - October 2019
1 Fees and other costs
Example of annual fees and costs for ourBalanced investment option
This table gives an example of how the fees and costsof the Balanced option can affect your superannuationover a 1 year period. You should use this table tocompare this superannuation product with othersuperannuation products.
Balance of $50,000Club PlusSuper
BalancedOption
For every $50,000you have inthe Balanced productyou will be charged$380 each year
0.76% p.a.Investment fees
And, you will bechargedadministration fees of
$93.60p.a. ($1.80per week)
PLUS Administrationfees
$93.60 regardless ofplus 0.20%your balance, plusp.a. of your$100 for every$50,000 you have inthe product
accountbalance atthe end ofeachmonth
NilNilPLUS Indirect costsfor theBalanced investmentoption
If your balance was$50,000, then forthat year you will becharged fees of $574
EQUALS Cost ofproduct
Note: Additional fees may apply.
Defined FeesThe following are definitions of the different fees andcosts that may apply to your superannuation:
Activity fees
A fee is an activity fee if:
a the fee relates to costs incurred by thetrustee of the superannuation entity that aredirectly related to an activity of the trustee:
that is engaged in at the request, orwith the consent, of a member; or
i.
ii. that relates to a member and isrequired by law; and
b those costs are not otherwise charged as anadministration fee, an investment fee, abuy-sell spread, a switching fee, an advicefee or an insurance fee.
Administration fees
An administration fee is a fee that relates to theadministration or operation of the superannuationentity and includes costs incurred by the trustee ofthe entity that:
a relate to the administration or operation ofthe entity; and
b are not otherwise charged as an investmentfee, a buy-sell spread, a switching fee, anactivity fee, an advice fee or an insurance fee.
Advice fees
A fee is an advice fee if:
a the fee relates directly to costs incurred bythe trustee of the superannuation entitybecause of the provision of financial productadvice to a member by:
i. a trustee of the entity; orii. another person acting as an employee
of, or under an arrangement with thetrustee of the entity; and
b those costs are not otherwise charged as anadministration fee, an investment fee, aswitching fee, an activity fee or an insurancefee.
Buy-sell spreads
A buy-sell spread is a fee to recover transaction costsincurred by the trustee of the superannuation entityin relation to the sale and purchase of assets of theentity.
Exit fees
An exit fee is a fee, other than a buy-sell spread, thatrelates to the disposal of all or part of a member’sinterests in a superannuation entity.
Indirect cost ratio
The indirect cost ratio (“ICR”), for aMySuper/Balanced product or an investment optionoffered by a superannuation entity, is the ratio of thetotal of the indirect costs for the
24TTR Pension Product Disclosure Statement - October 2019
Section 5 Fees and other costs
1 Fees and other costs
MySuper/Balanced product or investment option, tothe total average net assets of the superannuationentity attributed to the MySuper/Balanced product orinvestment option.
Note: A fee deducted directly from a member’saccount is not included in the indirect cost ratio.
Investment fees
An investment fee is a fee that relates to theinvestment of the assets of a superannuation entityand includes:
a fees in payment for the exercise of care andexpertise in the investment of those assets(including performance fees); and
b costs incurred by the trustee of the entitythat:
(i) relate to the investment of assets of the entity;and
(ii) are not otherwise charged as an administrationfee, a buy-sell spread, a switching fee, an activity fee,an advice fee or an insurance fee.
Switching fees
A switching fee is a fee to recover the costs ofswitching all or part of a member’s interest in thesuperannuation entity from one class of beneficialinterest in the entity to another.
Additional explanation of fees andcostsAdvice fees
Additional fees may apply if a financial adviser isconsulted.
Fees for personal advice will generally range from$220 - $2,750 (inclusive of GST) depending on thecomplexity and type of advice provided to you. Thisfee will be agreed with you before the preparation ofyour Statement of Advice (SOA).
Where the service includes advice on yoursuperannuation or retirement planning, you mayarrange with Club Plus Financial Planning (CPFP) forthe fee to be deducted from your Club PlusPension superannuation account. Where the serviceextends beyond superannuation and retirementplanning advice, you will be invoiced directly.
You may choose to take up their ongoing service andadvice offer. The cost of this service will generallyrange between $440 and $1,250 annually dependingon the complexity and the time spent.
CPFP advisers are paid a salary. They don’t receiveany commission or special payments for providingfinancial advice or products to you. They may receivea bonus based on their overall performance acrossa range of metrics. CPFP provides personal financialadvice to members and potential members of ClubPlus Super under Link Advice's AFSL. CPFP pays afee to Link Advice for this service.
Administration fees
As a fund that is run for members, we do not paycommissions to service providers employed by theTrustee or any Director of the Company. All feesdeducted from your account (along with the benefitsof any tax deduction) are used to pay the operatingcosts of Club Plus Super. In the event of any increasein your fees, you will be advised a minimum of 30days prior to the effective date. The currentAdministration Fee is $1.80 per week, which isdeducted from your member account on the last Fridayof each month. The current Asset Based Fee is 0.20%p.a. of your account balance and is also deducted onthe last Friday of each month.
25TTR Pension Product Disclosure Statement - October 2019
Activity fees
Additional expenses incurred in attending to certainenquiries and administrative work in relation to FamilyLaw and superannuation matters may apply. Servicefees in relation to Family Law fees are set out in thebelow table:
WHEN DEDUCTEDAMOUNTTYPE OF FEEOR COST
Enquiry Fee
Deducted from themember’s account if theenquiry is made by themember spouse.
Memberenquiry $100
The feecharged for aFamily Lawrequest
Payable by the non-memberspouse when the request ismade.
Non-memberenquiry $110
Family Law Split Fee
When an account split isprocessed as part of aFamily Law superannuation
$70(generallysplit between
Fee to splitan accountunder FamilyLaw agreement. This fee willmember and
non-memberspouse)
generally be deducted fromboth the member andspouse accounts at the timeof the split.
Borrowing costs
Borrowing costs refers to costs relating to any creditfacility used within any underlying investment as partof implementing the investment strategy of eachoption. The estimated borrowing costs (if any) for eachof the investment options for the year ending 30 June2019 are:
ESTIMATED BORROWINGCOSTS
OPTION
0.00%Cash
0.09%Conservative Balanced
0.10%Balanced
0.10%Growth
0.00%Australian Shares
0.00%International Shares
Borrowing costs are an additional cost to investors.They are not included in costs disclosed in theInvestment Fees shown for each investment option.
The costs for the current period will vary from theabove and may be greater than past experience.
Buy-sell spreads
Buy-sell spreads are used to ensure transaction costsincurred in buying or selling assets (for example,brokerage fees) held in each investment option arefairly allocated to members as members enter orleave the fund. These costs are included as part ofunit prices and paid for by those members who buyor sell units in a particular investment option. Thecost is an additional cost to members. Buy-sellspreads are retained in pooled investments and arenot paid directly to Club Plus Super or any externalmanagers. Currently the buy-sell spreads are zero forall investment options however we may vary thebuy-sell spread from time to time if transaction costschange. Notice will not normally be provided howeverupdated information will be available on our websiteand in regular communications. Buy-sell spreads arelisted in the Investment fees table.
Exit fees
From 1 July 2019, exit fees no longer apply. You willnot be charged any exit fees for any partial or fullwithdrawals or any other form of account exit.
26TTR Pension Product Disclosure Statement - October 2019
Section 5 Fees and other costs
1 Fees and other costs
Fee cap
From 1 July 2019, a 3% cap was introduced on thetotal amount of administration fees, investment feesand certain indirect costs that can be charged tomembers with an account balance below $6,000.
If your balance is less than $6,000 at the end of thefinancial year, you will receive a reimbursement toyour account if you paid more than 3% of your 30 Junebalance in that option in administration andinvestment fees, and certain indirect costs, duringthe year.
If you have less than $6,000 in your account andleave the fund during the year, you may be eligiblefor a reimbursement of any administration andinvestment fees and certain indirect costs you havepaid above the 3% cap.
Investment fees
The investment fees shown for each investmentoption include investment related fees and costs,including Transactional and Operational Costs chargedby investment managers through underlyinginvestment vehicles and incurred by the Fund. Thesefees and costs are estimated by reference toinvestment related fees and costs, including anyperformance related fees of underlying investmentmanagers, incurred for the 12 months to 30 June2019. Accordingly, actual investment related feesand costs incurred in the period from 1 July 2019may vary and may be greater in that period.
BUY-SELLSPREADS
FEE AMOUNTPER $50,000PER ANNUM
ESTIMATEDBASE FEE
PER ANNUM*
OPTION
0.00% /0.00%
$400.08%Cash
0.00% /0.00%
$3250.65%ConservativeBalanced
0.00% /0.00%
$3800.76%Balanced
0.00% /0.00%
$4000.80%Growth
0.00% /0.00%
$2850.57%AustralianShares
0.00% /0.00%
$3100.62%InternationalShares
BUY-SELLSPREADS
FEE AMOUNTPER $50,000PER ANNUM
ESTIMATEDBASE FEE
PER ANNUM*
OPTION
*Estimated fees for the investment options as at 30 June2019. Investment Fees are estimates based on currentmanager structure and asset allocation. Where aninvestment manager has exceeded the agreed benchmarka performance fee may be payable.
Performance related fees
Where an underlying investment vehicle or manageris used to invest the assets of an investment optionthey may charge a performance related fee. Thesefees are reflected in the unit price of the investmentoption and form part of the investment fees of eachinvestment option.
Underlying investment vehicles and managers thatcharge a performance related fee will generally onlyapply those fees when performance is greater thanan agreed target. Accordingly performance relatedfees in each year will generally only arise when higherreturns, relative to a specified target for a particularmanager, are achieved.
Property operating costs
Property Operating Costs refers to costs relating tothe management of real property as part ofimplementing the investment strategy of each option.The estimated property operating costs (if any) foreach of the investment options for the year ending30 June 2019 are:
PROPERTY OPERATINGCOST
OPTION
0.00%Cash
0.12%Conservative Balanced
0.13%Balanced
0.14%Growth
0.00%Australian Shares
0.00%International Shares
Property Operating Costs are an additional cost toinvestors. They are not included in costs disclosedin the Investment Fees shown for each investmentoption.
The costs for the current period may vary from theabove and may be greater than past experience.
27TTR Pension Product Disclosure Statement - October 2019
Transactional and Operational Costs
Transactional and Operational Costs (“T&O Costs”) are incurred within each investment option. They includecosts associated with trading within the underlying investments in which Club Plus Super investment optionsare invested and to implement the relevant investment option strategies. Such costs include brokerage, buy-sellspreads, settlement costs (including custody costs), clearing costs, stamp duty on investment transactions andcosts incurred through underlying investment funds.
T&0 Costs generally are additional costs to investors and are paid out of the assets of the Fund or deductedfrom the underlying investments before unit prices are applied to member accounts.
T&O Costs also arise as a result of member transactions and some of those costs are recovered by the Fundfrom transacting members through the application of the Fund’s buy-sell spread on member investment options.
Details of the Fund’s estimated T&O Costs for the financial year to 30 June 2019 and their treatment in respectof each option are as follows:
ESTIMATEDTRANSACTIONCOSTS NOTINCLUDED ININVESTMENT FEEi.e. IMPLICIT COSTS
ESTIMATEDTRANSACTIONCOSTS INCLUDEDIN INVESTMENT FEE
ESTIMATEDTRANSACTIONCOSTS AFFECTINGRETURNS
ESTIMATEDTRANSACTIONCOSTS RECOVEREDFROM BUY-SELLSPREAD
ESTIMATED GROSSTRANSACTIONCOSTS
OPTION
0.00%0.00%0.00%0.00%0.00%Cash
0.03%0.06%0.09%0.02%0.11%ConservativeBalanced
0.08%0.09%0.17%0.04%0.21%Balanced
0.08%0.08%0.16%0.06%0.22%Growth
0.26%0.09%0.36%0.09%0.45%AustralianShares
0.01%0.07%0.08%0.04%0.12%InternationalShares
The costs for the current period (the date the PDS was issued) may vary from the above and may be greater.
28TTR Pension Product Disclosure Statement - October 2019
Section 5 Fees and other costs
1 Fees and other costs
If you are aged 60 or over there is no tax payable onthe income paid to you from your TTR Pension.
If you are aged less than 60, then we will deduct taxat the relevant Pay As You Go (PAYG) rate that appliesto the amount paid and the income from your TTRPension is included as part of your total income whenyou prepare your tax return.
We will deduct tax from your pension based on theamount of pension being paid, taking into accountany deductions and rebates that are applicableaccording to the information that you have suppliedto us.
If you are aged less than 60 and still working, yourtax will be assessed by the Australian Tax Office (ATO)based on your combined income. The ATO will assessyour income tax liability based on the informationcontained in your Tax Return after taking into accountall income, deductions and rebates.
Effective 1 July 2017, the government removed thetax-exempt status of earnings from assets for TTRpensions not in the retirement phase. Earnings fromassets supporting a non-retirement phase TTR will betaxed at 15% regardless of the date the TTRcommenced.
Important: The taxation of TTR Pensions can becomplex. For this reason we recommend professionaltax advice. Alternatively, go to ato.gov.au for moreinformation.
Tax while your money is investedWhat makes a TTR pension unique is the way in whichinvestment returns are taxed. Unlike other comparableinvestments, which are typically taxed under marginalincome tax rates (as high as 45%) the investmentreturns of your TTR pension are generally taxed atonly 15%. This low rate of tax means your pensioncan potentially grow in value at a faster rate thanother investments invested in the same assets.
Additionally, assets invested in Australian andinternational equities may benefit from imputationcredits for franked dividends and foreign tax creditsthat offset the tax payable on the earnings of thefund. Assets that are sold after being held for at least12 months in the fund are generally taxed at adiscounted rate.
Providing your tax file number (TFN)By completing the Tax File Number Declaration form,you are supplying details which will allow us todetermine the amount of tax to be deducted from yourpension payments.
We are allowed to collect your TFN under theSuperannuation Industry (Supervision) Act 1993.Providing your TFN to us is voluntary and it is not anoffence if you choose not to quote it. If you provideyour TFN:
- you won't have additional tax applied on andwithdrawals, other than your standard tax, and
- it will be much easier to find and consolidate yourbenefits when you retire.
- be able to make voluntary contributions
If we do not have your TFN and you are under age 60,tax will be withheld from the taxable component ofyour benefits at the highest marginal tax rate plusapplicable levies.
We will only use your TFN for legal purposes and itwill be treated as confidential. These purposes maychange.
We may provide it to another superannuation providerif your benefits are transferred to them, unless youadvise us in writing not to provide it to them.
WithdrawalsThere is no tax payable on withdrawals from yourpension if you are aged 60 or over. If you are under60 (and over your preservation age), tax may bededucted from the taxable component of your benefitat the time of withdrawal. Tax will be deducted onassessable amounts over the low rate cap at a rateof 15% plus statutory levies. The low rate cap is$210,000 in 2019/2020 and indexed annually inline with AWOTE. This is a lifetime limit and appliesto all of your Australian superannuation benefits.
29TTR Pension Product Disclosure Statement - October 2019
1 Taxation
30TTR Pension Product Disclosure Statement - October 2019
Section 6 How a pensionis taxed
1 Taxation
Your right to privacyPrivacy Policy
Your personal information is collected so that we canadmit you as a member and provide you with theservices and benefits the fund offers.
Our Privacy Policy contains information about howyour personal information is collected, used, disclosedand held and how you can access and correct yourpersonal information and make a complaint about aprivacy breach. You should read the Privacy Policyat clubplussuper.com.au/privacy-policy beforeproviding your personal information. Call us on 1800 204 194 for a hard copy of the Policy free ofcharge.
Why does Club Plus Super need mypersonal information?The personal information Club Plus Super collectsabout you, is used to establish your TTR Pensionaccount, to process payments from your account, tocorrespond with you and to provide you withsuperannuation benefits and options from Club PlusSuper.
The provision of some benefits and options to yourequires the provision by you of your personalinformation and, should you choose not to providenecessary information, it may not be possible toprovide those benefits and options to you.
There are other organisations that are connected tothe services we provide to you and which may haveaccess to your personal information. They include:
Mailing companies – organisations contractedto do all mailing for Club Plus Super;Archiving companies – organisations contractedto ensure that all documents are stored in asecure environment;Auditors, lawyers, the administrator andRegulators;Organisations that ensure Club Plus Super iscomplying with legislation and contractualobligations.
31TTR Pension Product Disclosure Statement - October 2019
1 Privacy
You can withdraw your TTR Pension application byrequesting to do so in writing to the Trustee within14 days of the date on your Welcome Letter.
The amount transferred out may be less than theamount invested due to movement in unit pricesand/or any taxes payable. If you have exercised anyother rights or powers (such as claiming a benefit orpension payment) as a member within the cooling-offperiod, you cannot cancel your membership, but youcan request your entire balance be withdrawn in cash(Industry or Personal Divisions only) or transferred toyour super account or to another fund.
32TTR Pension Product Disclosure Statement - October 2019
Section 7 More information
2 Cooling off period
ComplaintsIf you are dissatisfied with any aspect of the productor service we provide, please contact us by:
1800 204 194By phone:[email protected] email:The Enquiries and Complaints OfficerClub Plus Pension Locked Bag 5042Parramatta NSW 2124
By mail:
We will attempt to resolve your enquiry or complaintthrough the Fund's internal dispute resolution processas soon as possible. You should receive a letter ofacknowledgment within 5 business days of the dateyour complaint is received.
If the matter is not resolved to your satisfaction, oryou do not receive a response within 90 days, youmay contact the following independent externaldispute resolution scheme:
The Australian Financial Complaints Authority ('AFCA'),by phone on 1800 931 678, [email protected] or by visiting www.afca.org.au.
Contact usIf at any time you have any questions about Club PlusPension or wish to change your personal detailsrecorded by Club Plus Super, you can contact us by:
1800 204 194Telephone:1300 663 844Fax: [email protected]: Club Plus PensionLocked Bag 5042Parramatta NSW 2124
In writing:
1a Homebush Bay DriveRhodes NSW 2138clubplussuper.com.au
In person:
Privacy Officer
(02) 9376 9400Telephone:1300 855 374Fax: [email protected]: Privacy OfficerClub Plus SuperGPO Box 3774 Sydney NSW 2001
In writing:
If you are dissatisfied with the response of the PrivacyOfficer, you may lodge a complaint with the Office ofthe Australian Information Commissioner by [email protected] or by phoning 1300 363 992.
33TTR Pension Product Disclosure Statement - October 2019
3 Contact details
NOTES
5 What is your primary e-mail address?
4 What is your business address?
Suburb/town/locality
State/territory Postcode
There are penalties for deliberately making a false or misleading statement.
Signature of payer
DECLARATION by payer: I declare that the information I have given is true and correct.
Month YearDayDate
2 If you don’t have an ABN or withholding payer number, have you applied for one? Yes No
Section B: To be completed by the PAYER (if you are not lodging online)
Branch number (if applicable)
1 What is your Australian business number (ABN) or withholding payer number?
6 Who is your contact person?
Business phone number
7 If you no longer make payments to this payee, print X in this box.
Return the completed original ATO copy to:
Australian Taxation Office PO Box 9004 PENRITH NSW 2740
IMPORTANT
See next page for:payer obligationslodging online.
ato.gov.au
This declaration is NOT an application for a tax file number.
Use a black or blue pen and print clearly in BLOCK LETTERS.Print X in the appropriate boxes.
NAT 3092-06.2019 [DE-6078]
Section A: To be completed by the PAYEE
7 On what basis are you paid? (select only one)Full-time
employmentPart-time
employmentCasual
employment
Superannuation or annuity
income stream
Labour hire
9 Do you want to claim the tax-free threshold from this payer?
Answer no here if you are a foreign resident or working holiday maker, except if you are a foreign resident in receipt of an Australian Government pension or allowance.
NoYes
Only claim the tax-free threshold from one payer at a time, unless your total income from all sources for the financial year will be less than the tax-free threshold.
There are penalties for deliberately making a false or misleading statement.
You MUST SIGN here
Signature
Month YearDayDate
DECLARATION by payee: I declare that the information I have given is true and correct.
10 Do you have a Higher Education Loan Program (HELP), VET Student Loan (VSL), Financial Supplement (FS), Student Start-up Loan (SSL) or
Your payer will withhold additional amounts to cover any compulsory repayment that may be raised on your notice of assessment.Yes No
OR I have made a separate application/enquiry to the ATO for a new or existing TFN. For more
information, see question 1 on page 2 of the instructions.
OR I am claiming an exemption because I am under 18 years of age and do not earn enough to pay tax.
OR I am claiming an exemption because I am in receipt of a pension, benefit or allowance.
1 What is your tax
2 What is your name? Title: Mr Mrs Miss Ms
Surname or family name
First given name
Other given names
4 If you have changed your name since you last dealt with the ATO,
6 What is your date of birth?
Month YearDay
3 What is your home address in Australia?
Suburb/town/locality
State/territory Postcode
Sensitive (when completed)
3 What is your legal name or registered business name (or your individual name if not in business)?
An Australian resident for tax purposes
A foreign resident for tax purposes
A working holiday maker
8 Are you: (select only one)
30920619
5 What is your primary e-mail address?
OR
Print form Save form Reset form
Payer informationThe following information will help you comply with your pay as
Is your employee entitled to work in Australia?
It is a criminal offence to knowingly or recklessly allow someone to work, or to refer someone for work, where
illegally or is working in breach of their visa conditions.
People or companies convicted of these offences may face fines and/or imprisonment. To avoid penalties, ensure your prospective employee has a valid visa to work in Australia before you employ them. For more information and to check a visa holder’s status online, visit the Department of Home Affairs website at homeaffairs.gov.au
Is your payee working under a working holiday visa (subclass 417) or a work and holiday visa (subclass 462)?
Employers of workers under these two types of visa need to register with the ATO, see ato.gov.au/whmreg
For the tax table “working holiday maker” visit our website at ato.gov.au/taxtables
Payer obligations
If you withhold amounts from payments, or are likely to withhold amounts, the payee may give you this form with section A completed. A TFN declaration applies to payments made after the declaration is provided to you. The information provided on this form is used to determine the amount of tax to be withheld from payments based on the PAYG withholding tax tables we publish. If the payee
Has your payee advised you that they have applied for a TFN, or enquired about their existing TFN?
Where the payee indicates at question 1 on this form that they have applied for an individual TFN, or enquired about their existing TFN,
You must withhold tax for
tax tables.you must then withhold the top rate of tax from future payments,
If your payee has not given you a completed form you must:
notify us within 14 days of the start of the withholding obligation by completing as much of the payee section of the form as you
withhold the top rate of tax from any payment to that payee.
For a full list of tax tables, visit our website at ato.gov.au/taxtables
Lodging the form
You need to lodge TFN declarations with us within 14 days after the form is either signed by the payee or completed by you (if not
You need to retain a copy of the form for your records. For information about storage and disposal,
You may lodge the information:
online – lodge your TFN declaration reports using software that complies with our specifications. There is no need to complete
your software.
by paper – complete section B and send the original to us
For more information about lodging your
at ato.gov.au/lodgetfndeclaration
Provision of payee’s TFN to the payee’s super fund
If you make a super contribution for your payee, you need to give your payee’s TFN to their super fund on the day of contribution, or if the payee has not yet quoted their TFN, within 14 days of receiving this form from your payee.
Storing and disposing of TFN declarations
The TFN Rule issued under the Privacy Act 1988 requires a TFN
electronic files of scanned forms. Scanned forms must be clear and
If a payee:
submits a new TFN declaration (NAT 3092), you must retain a copy of the earlier form for the current and following financial year.
has not received payments from you for 12 months, you must retain a copy of the last completed form for the current and following financial year.
Penalties
You may incur a penalty if you do not:
lodge TFN declarations with us
keep a copy of completed TFN declarations for your records
provide the payee’s TFN to their super fund where the payee quoted their TFN to you.
Transition to Retirement Pension application
Please return this completed form ensuring you have completed Proof of Identity requirements shown in Section 9 and, if you are under age 60, a Tax File Number Declaration form to: Club Plus Super Administration, Locked Bag 5042, Parramatta NSW 2124.
If you would like to do any of the following, please complete these actions BEFORE you open a pension account:
• Include money from another super fund in your Pension• Claim a tax deduction on any personal contributions you have made into Club Plus Super• Split contributions with your spouse
Please complete in black ink using BLOCK letters. This request will be invalid if not signed and dated.
Section 3: Amount to be transferred to Club Plus Transition to Retirement Pension
Do you want to invest your whole Club Plus Super account balance or part of your account balance?
Please note: If you have money from another superannuation fund that you want to include in your Pension, that amount must be transferred to Club Plus Super prior to commencing your pension.
Whole amount - close my Club Plus Super account.
The maximum amount while keeping my Club Plus Super account open with a minimum balance of $6,000.
$An amount of
Section 1: Personal details
Phone number Mobile number
Date of birth (DD/MM/YYYY)Club Plus Super member number Gender
Male Female
Title: Mr/Mrs/Ms/Miss/Other Surname
Given name(s)
Please provide proof of birth date. See page 3 of this form.
Suburb/Town PostcodeStateResidential address (if different to postal address)
Suburb/Town PostcodeStatePostal address
Section 2: Your pension
I have reached my preservation age, but not age 65, and I am still working.
Please note: If you are aged 65 or over, or you have reached your preservation age and have retired permanently, you are eligible for a pension without restrictions on payments. Please see the Pension division PDS and its application form.
Accompanying the Transition to Retirement Pension Product Disclosure Statement (PDS) - issued 1 October 2019
Transition to Retirement Pension application (cont.)
Section 6: Payment instructions
Please provide the details of the bank, building society or credit union account that you wish your pension to be paid to.
Account name
Bank/Building Society/Credit Union name
Account numberBSB number
Section 7: Frequency and amount of Pension
Please read the section titled ‘Choosing your TTR pension amount and frequency’ of the Transition to Retirement Pension PDS prior to completing this section. Any nominated amount will be the gross pension payable. The actual after-tax pension may differ depending on your personal tax rate.
Please tick the box corresponding to the pension payment frequency you require and nominate the payment amount per period:If you would prefer not to nominate an amount you may nominate:
1) a “Minimum”, which will be the age-based legislated percentage of your account balance, or
2) the legislated “Maximum” percentage of your account balance per year.
Twice monthly Payment will be made on the 5th and 20th of each month
Monthly Payment will be made on the 20th of each month
Quarterly Payment will be made on the 20th of March, June, September and December
Half yearly Payment will be made on the 20th of June and December
Yearly Payment will be made on the 20th of June
Section 5: Withdrawal choice
Please note: If you do not make a choice, your pension payments will be withdrawn from the same investment option(s) and in the same proportions as you have nominated in section 4.
Before making a choice, please read the ‘Choosing your investments’ information in the the Transition to Retirement Pension PDS.
Section 4: Investment Choice
You may nominate to invest your pension balance in one of the below options, or in a combination of the investment options. I would like the balance of my Pension account to be invested in the following investment options:
Before making a choice, please read the ‘Choosing your investments’ information in the the Transition to Retirement Pension PDS.
%
Cash
%
Conservative Balanced
%
Balanced
%
Growth
%
Australian Shares
%
International Shares
%
TOTAL
Total must equal 100%
%
Cash
%
Conservative Balanced
%
Balanced
%
Growth
%
Australian Shares
%
International Shares
%
TOTAL
Total must equal 100%
Please nominate the investment options from which your regular pension payments will be withdrawn (only options you have selected in section 4 can be chosen here).
Minimum amount
Prorated Minimum
Maximum amount
Prorated MaximumOR OR$
Gross payment amount
Section 9: Proof of identity
Complete option 1 (below) OR option 2 (overleaf):
Option 1: Electronic verifi cation I authorise the Fund to use the personal information provided below to verify my identity for the purposes of the Anti-Money
Laundering and Counter-Terrorism Financing (AML/CTF) Act using reliable and independent data sources. I understand the Fund uses a third party for this purpose and consent to its use.
Important: Make sure the details you provide are accurate. If your personal details provided in Section 1 do not match your electronic identifi cation details, we will not be able to use your personal details to prove your identity, which will delay processing your pension application. You must provide your registered street address in Australia in Section 1: Personal Details if you would like to electronically verify your identity.
You must provide details of at least two of the following documents:
Document 1: Medicare card
Document 2: Australian Driver’s Licence
Full name as shown on your Medicare card, including initials:
Card number:
Valid to:
I am person number on this card
State of issue:Expiry date:Australian driver’s licence number:
First name as shown on your licence:
Surname as shown on your licence:
Section 8: Nomination of Reversionary Pensioner
You may nominate a spouse or in some circumstances, a child, as your Reversionary Pensioner. In the event of your death, this person will be entitled to receive the balance of your allocated payments. Refer to the Transition to Retirement PDS for more details.
Reversionary Pensioner name
Address
Suburb/Town PostcodeState
Date of birth (DD/MM/YYYY) Relationship
Transition to Retirement Pension application (cont.)
Section 9: Proof of identity (cont.)
Option 1: Electronic verifi cation (cont.)
Document 3: Passport (Please provide an Australian passport if possible, alternatively you can provide details of a foreign passport if you have a visa issued by the Australian Department of Immigration and Border Protection).
Passport number: Country of issue:
Given name/s (including middle name) as shown on your passport:
Surname as shown on your passport:
Place of birth as shown on your passport: Date of expiry:
Transition to Retirement Pension application (cont.)
Section 9: Proof of identity (cont.)
Step 1: Take a photocopy of both sides of the original document (see list of documents). Step 2: Take the photocopy and the original document(s) to an authorised person.
Step 3: The authorised person should state on the front side of each copy:
‘This is a true and correct copy of the original.’ The authorised person should write on each copy their: • full name; • qualification (from list above); • registration number (if applicable); and • signature and date.
Example of how to certify identification
All proof of age or identity documentation must be CERTIFIED copies of the original (refer example below). The following documents may be used.
EITHER:
One of the following documents only:• driver’s licence issued under state or territory law which has not expired; or• current passport, or for a passport issued by the Commonwealth, a passport that expired less than two years ago.
OR
I have attached copies of my certifi ed proof of identity with this application, in accordance with the requirements set out below.
Certifi cation of personal documents
All copied pages of ORIGINAL proof of identifi cation documents (including any linking documents) need to be certifi ed as true copies by any individual approved to do so (see below).
The following are some of the people who can certify copies of your originals as true and correct copies:
If you can’t access any of these people, the full list of who can certify documents is available at clubplussuper.com.au/tools-forms
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 certifi ed 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
Signed on behalf of the applicant Guardianship papers or Power of Attorney
• Dentist• Nurse• Pharmacist• Medial Practitioner• Chiropractor• Physiotherapist
• Psychologist• Veterinary surgeon• Optometrist• Police Offi cer• Justice of the Peace• Engineer
• Accountant• Teacher• Judge or Magistrate• Australia Post employee• Bank, building society or credit union
employee
Option 2: Provide certifi ed copies of identifi cation documents
One of the following documents:• letter from Centrelink regarding a government
assistance payment; • notice issued by federal, state or territory government or local
council the past twelve months that contains your name and residential address. For example:- Notice of an ATO assessment- Rates notice from a local council
One of the following documents:• birth certifi cate or birth extract;• citizenship certifi cate issued by the
Commonwealth;• pension card issued by Centrelink
that entitles the person to fi nancial benefits.
AND
Marriage certifi cate, deed poll or change of name certifi cate from the Births, Deaths and Marriages Registration Office
Transition to Retirement Pension application (cont.)
Issue date: 1 October 2019
Section 10: Nomination Benefi ciary (if you have not nominated a Reversionary Pensioner)
You can nominate benefi ciaries that you wish to be considered for payment of your entitlements in the event of your death.
Please note: percentages must be whole numbers and the total of all benefi ciaries must sum to 100%.
Surname Given namesRelationship (e.g. wife, husband, son)
Portion of benefi t
%
%
%
TOTAL 100%
Please note: If you wish to make a binding death nomination, please complete a Binding death nomination form instead of the section above. This form is available at clubplussuper.com.au/tools-forms.
Section 12: Applicant’s declaration
I hereby apply for a Transition to Retirement Pension with Club Plus Super. I confi rm that I have personally received (including an electronic version issued or a print out of it, accompanied by or attached to this application form) and read and understood the Transition to Retirement Pension PDS.I acknowledge that this application is subject to the terms and conditions of the PDS.
• I am a citizen or permanent resident of Australia or a citizen of New Zealand.
• The information provided on this application form is true and correct.
• I understand that the pension will operate in accordance with the rules contained in the Club Plus Superannuation Trust Deed dated 27 February 1987, as amended from time to time, and the relevant Commonwealth Government Laws pertaining to superannuation and taxation. I agree to be bound by the provisions of the Club Plus Superannuation Trust Deed.
• I understand that Club Plus Super may deduct taxation from regular pension payments and any lump sum payments in accordance with Commonwealth Government taxation laws, and based on the information that I have provided.
• I understand that pension payments will be paid to my nominated bank, building society or credit union account on the dates nominated above.
• I understand that I have 14 days from the date that you confi rm my membership to withdraw my application at no cost (Cooling Off period). After the Cooling Off period, I may transfer my entire balance from Club Plus Super at any time, and there will be no charge to me.
• I agree to be notifi ed of changes of details relating to my pension through the website and member communications.
• I agree that neither I nor any other person claiming through me has any claim against Club Plus Superannuation Pty Limited in relation to a payment made or action taken by Club Plus Superannuation Pty Limited if the payment or instruction is made in accordance with the relevant conditions and includes instructions that are later shown to have been made by me.
• I acknowledge and agree that Club Plus Superannuation Pty Limited has not expressed any opinion as to the appropriateness of any particular investment in the circumstances of any particular member.
✗
Member’s signature Date (DD/MM/YY)
Club Plus Superannuation Pty Ltd ABN 26 003 217 990, AFSL No. 245362 RSE Licence No. L0000529 as trustee of Club Plus Superannuation Scheme
ABN 95 275 115 088, RSE Registration No. R1000757
Contact uspension hotline: 1800 204 194email: [email protected] website: clubplussuper.com.au
CP/TTR PEN/APP 1396.1 08/19 ISS1
Section 11: Privacy
The personal information provided on this form is collected by and held for Club Plus Super by the fund administrator AustralianAdministration Services (AAS) in accordance with the Australian Privacy Principles of the Privacy Act 1988 (Cth), for the purpose ofadministering accounts and providing services associated with your membership of the Fund.
You should read the Privacy Policy at clubplussuper.com.au before completing the form. Call us on 1800 680 627 for a hard copy ofthe Policy. The Policy contains information about how personal information is collected, used and disclosed, how you can correct your personal information, make a complaint about a privacy breach and other important information about safeguards in place to protect your personal information.
By providing your information, you acknowledge that you have read and understood the Privacy Policy.
Transition to Retirement Pension application (cont.)
Superannuation rollover
Section 1: Personal details
*Required field. If not completed, it may delay the processing of your application.
*Surname: *Given name(s):
Title: Mr/Mrs/Ms/Miss/Other
*Address:
Suburb PostcodeState
*Date of birth (DD/MM/YYYY):
*Phone number: Email:
*Tax file number (TFN)
See “Providing your TFN” on the next page.
Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your TFN, but there may be tax consequences.
Section 2: Fund details - please complete a separate form for each account you wish to transfer.
FROM Fund details TO Fund details
Fund name: Fund name: Club Plus Superannuation Scheme
Member number: Member number:
Australian Business Number (ABN): Australian Business Number (ABN): 95 275 115 088
Unique Superannuation Indentifier (USI): Unique Superannuation Indentifier (USI): CLB0100AU
Whole amount to Club Plus Super. is to be rolled in.$An amount of
Section 3: Amount to be rolled over
Section 4: Proof of identity
For transfers between super funds, your FROM fund will confirm your identity with the Australian Taxation Office (ATO). Where a positive match is made, your benefit can be transferred to Club Plus Super. However, if a positive match cannot be made, your FROM fund may require you to provide certified copies of your proof of identification documents (including any linking documents if you have changed your name).
Contact usmember hotline: 1800 680 627
email: [email protected] website: clubplussuper.com.au
pension hotline: 1800 204 194
Club Plus Superannuation Pty Limited ABN 26 003 217 990, AFSL No. 245362 RSE Licence No. L0000529 as trustee of Club Plus Superannuation Scheme
ABN 95 275 115 088, RSE Registration No. R1000757
CP/ROLOVER 713.5 08/19 ISS15
Do you know you can rollover your super from other funds into Club Plus Super online or by phone?You can do it yourself online at: supermatch.clubplussuper.com.au or through your myGov account. You can also call our Member Hotline on 1800 680 627 and we can organise the rollover for you.
If using this form, please complete in black ink with BLOCK letters. This request will be invalid if not signed and dated. Please return this completed form to: Club Plus Super, Locked Bag 5007, Parramatta NSW 2124.Read the back of this form for instructions and other important information.
Superannuation rollover (cont.)
This transfer may close your account (in your FROM fund).
This form cannot be used to:• transfer benefits if you don’t know where your super is• transfer benefits from multiple funds on this one form –
a separate form must be completed for each fund • change the fund to which your employer pays contributions • open a super account with Club Plus Super• transfer benefits under certain conditions or circumstances –
for example, if there is a super agreement under the Family Law Act 1975 in place.
What happens to my future employer contributions?
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.
To change the fund into which your contributions are being paid, you will need to advise your employer of your new choice.
A Choice of Fund form is available at clubplussuper.com.au/tools-forms or by contacting the Member Hotline on 1800 680 627.
Things you need to consider when transferring your super
When you transfer your super, your entitlements under that fund may cease. You need to consider all relevant information before you make a decision to transfer your super. If you ask for information, your super provider must give it to you. Some of the points you may consider are:• Fees – your FROM fund must give you information about
any fees that apply to your account. Club Plus Super will not charge you an entry fee on your deposit.
• Death 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 that fund, you may lose any insurance entitlements you have with them. You can transfer your insurance cover to Club Plus Super but you must do this before you submit this form. You may wish to check the costs and amount of any cover offered. Any cover you have with Club Plus Super can be viewed online in the Member Portal or on your annual statement.
Providing your Tax File Number (TFN)
Under the Superannuation Industry (Supervision) Act 1993, your super fund is authorised to collect, use and disclose 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 super fund may disclose your TFN to another super provider, when your benefits are being transferred, unless you request the trustee of your super fund in writing that your TFN not be disclosed to any other super provider.
Declining to quote your TFN to the trustee of your super fund is not an offence. However giving your TFN to your super fund will have the following advantages:• your super fund will be able to accept all permitted types of
contributions to your account/s;• other than the tax that may ordinarily apply, you will not pay
more tax than you need to - this affects both contributions to your super and benefit payments when you start drawing down your super benefits; and
• it will make it much easier to find different super accounts in your name so that you receive all your super benefits when you retire.
Section 7: Important information
Section 6: Authorisation
By signing this request form I am making the following statements:
• I acknowledge I have fully read this form and the information completed is true and correct.• I am aware I may ask my super 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.• I discharge the super provider of my FROM fund of all further liability in respect of the benefits paid and transferred to Club Plus Super.• I request and consent to the transfer of super as described above and authorise Club Plus Super to contact my FROM fund to
obtain any details relevant to the transfer of my super benefit to Club Plus Super.• I request and consent to the transfer of super as described above and authorise the superannuation provider of each fund to give
effect to this transfer.• I have considered where my employer super contributions are currently paid.• I consent to my TFN being disclosed for the purposes of consolidating my account.
✗
Member’s signature Date (DD/MM/YY)
Section 5: Privacy
The personal information provided on this form is collected by and held for Club Plus Super by the fund administrator AustralianAdministration Services (AAS) in accordance with the Australian Privacy Principles of the Privacy Act 1988 (Cth), for the purpose ofadministering accounts and providing services associated with your membership of the Fund.
You should read the Privacy Policy at clubplussuper.com.au/privacy-policy before completing the form. Call us on 1800 680 627 for a hard copy of the Policy. The Policy contains information about how personal information is collected, used and disclosed, how you can correct your personal information, make a complaint about a privacy breach and other important information about safeguards in place to protect your personal information.
By providing your information, you acknowledge that you have read and understood the Privacy Policy.
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CONTACT US1800 210 098employer hotline:1800 680 627member hotline:1800 204 194pension hotline:1300 663 844Fax:Locked Bag 5042ParramattaNSW 2124
Address:
clubplussuper.com.auWeb:[email protected]:
CP 1350.6 10/19 ISS4