About Grosvenor Pirie Super. PRODUCT DISCLOSURE STATEMENT 1 May 2018

Transcription

1 pre Grsvenr Pirie Super PRODUCT DISCLOSURE STATEMENT 1 May 2018 CONTENTS: Sectin 1: Sectin 2: Sectin 3: Sectin 4: Sectin 5: Sectin 6: Sectin 7: Sectin 8: Sectin 9: Abut Grsvenr Pirie Super Hw super wrks Benefits f investing with Grsvenr Pirie Super Risks f super Hw we invest yur mney Fees and csts Hw super is taxed Insurance in yur super Hw t pen an accunt? FUND S CONTACT DETAILS: Telephne (02) members@gpml.cm.au Mail GPO Bx 263, Sydney NSW 2001 Website Imprtant: Issued by Diversa Trustees Limited [ABN , AFSL , RSE Licence L ] ( Trustee ) as trustee f Grsvenr Pirie Master Super Fund Series 2 (the Fund ), [ABN ] [R ]. Grsvenr Pirie Super is a sub plan f the Fund. The infrmatin in this Prduct Disclsure Statement (PDS) is up t date at the time f preparatin. Hwever, infrmatin in this PDS is subject t change frm time t time. The Trustee reserves the right t update infrmatin that is nt materially adverse at any time. Updated infrmatin can be btained by ging t the Funds website at r calling us n Yu may request a paper cpy f this PDS and any updated infrmatin at any time, free f charge. This PDS is a summary f the significant infrmatin which yu need t cnsider befre making a decisin abut Grsvenr Pirie Super. It includes references t imprtant infrmatin that frms part f the PDS and is included in the Additinal Infrmatin Bklet and the Insurance Guide dated 1 May The Additinal Infrmatin Bklet and Insurance Guide can be fund n ur website r by cntacting us n Infrmatin in the PDS is general infrmatin nly and des nt take accunt f yur persnal financial situatin r needs. Yu shuld btain financial advice that is tailred t yur persnal circumstances. In this dcument, we means Diversa Trustees Limited as trustee fr the Fund

2 Sectin 1: Abut Grsvenr Pirie Super Grsvenr Pirie Super prvides superannuatin prducts fr persnal superannuatin members. This PDS relates nly t accumulatin accunts in the prduct issued frm the Fund knwn as Grsvenr Pirie Super. Grsvenr Pirie Super als ffers pensin accunts. Yu can find the latest PDS fr Grsvenr Pirie Super, and any ther infrmatin we are required t make available t members the Funds website, Future Super Asset Management Ltd. (Future Super Asset Management) (ABN AFSL ) is the Prmter and the Investment Manager fr Grsvenr Pirie Super. OneVue Super Services Pty Limited (ABN , ASFL ) is the Administratr fr Grsvenr Pirie Super. The trustee f the Fund is Diversa Trustees Limited (ABN AFSL ). Insurance cver is prvided t eligible members by AIA Australia Limited (ABN AFSL ). T access infrmatin regarding Trustee and Executive remuneratin and ther infrmatin that a trustee must make available n the Fund s website, please visit: Grsvenr Pirie Super ffers ne Investment Optin fr all members f Grsvenr Pirie Super, namely the Grsvenr Pirie Super Balanced Grwth Investment Optin. The Fund des nt ffer a MySuper prduct, therefre we are unable t accept cntributins n yur behalf unless an Applicatin Frm has been cmpleted and an investment chice has been made. T pen an accunt, yu can either cmplete the Applicatin Frm which accmpanies this PDS and submit it t us (cntact details n the frnt page) r jin nline using ur electrnic jin frm available at This frm lets yu t make an investment chice hwever yu must read the PDS befre ding s. Warning: The advice in this dcument is f a general nature nly. It des nt take int accunt yur individual bjectives, financial situatin r needs. Therefre yu shuld cnsider whether this advice is apprpriate fr yu having regard t yur wn circumstances befre relying n it. We recmmend yu seek advice frm a licensed financial adviser befre making any decisins abut this prduct. Fr mre infrmatin abut Grsvenr Pirie Super, see the Additinal Infrmatin Bklet available at r call Yu shuld read the imprtant infrmatin in the Additinal Infrmatin Bklet befre making a decisin. Sectin 2: Hw super wrks Superannuatin is a means f saving fr retirement which is, in part, cmpulsry. Mst Australian emplyers are required by Gvernment legislatin t cntribute 9.5% f an emplyee s rdinary time earnings t a superannuatin fund nminated by the emplyee r, if an emplyee des nt nminate a fund, t the emplyer s default fund that ffers a MySuper prduct. These cmpulsry cntributins are referred t as Superannuatin Guarantee (SG) cntributins. Yu can als make cntributins twards superannuatin. There are different types f cntributins available t a persn including SG cntributins, additinal emplyer cntributins (fr example, salary sacrifice cntributins), vluntary member cntributins and gvernment c-cntributins. There are limitatins n the cntributins t, and withdrawals, frm superannuatin. These limitatins apply t all superannuatin funds. Superannuatin receives cncessinal tax treatment, that is, tax savings are prvided by the Gvernment. Refer t Sectin 7 f this PDS fr mre infrmatin. As mst peple have a right t chse int which fund their emplyer shuld direct their SG cntributins (called Chice f Fund ), it s imprtant yu take an interest in yur super and help it grw int a healthy retirement nest egg. Cntact yur emplyer t check whether yu can make a Chice f Fund. Further infrmatin abut Chice f Fund is available frm Yu can access yur superannuatin savings nce yu retire n r after reaching yur preservatin age r in ther circumstances permitted by law (fr example, death, permanent incapacity and financial hardship), called cnditins f release. The cnditins f release fr temprary residents vary frm thse applicable t Australian citizens, New Zealand citizens r permanent residents f Australia. There are certain circumstances in which superannuatin benefits must be transferred by the Trustee t the Tax Office (fr example, small r unidentifiable lst accunts, unclaimed benefits n r after age 65 and unclaimed benefits f frmer temprary residents). General infrmatin abut super is available frm Yu can als make additinal superannuatin cntributins. Even small amunts, can help grw yur superannuatin balance ver time. Yu can make additinal cntributins by: salary sacrificing asking yur emplyer t deduct additinal cntributins frm yur pay befre tax is deducted; making persnal cntributins frm yur wn savings r after-tax earnings; - 2 -

3 self-emplyed cntributins self-emplyed members may be able t claim a tax deductin fr their superannuatin cntributins; and transferring the superannuatin yu have in anther fund t Grsvenr Pirie Super. When yu make additinal persnal cntributins, yu may als be entitled t a c-cntributin frm the Gvernment. Annual limits apply t the amunt f cntributins that can be paid int yur super fund bth frm yur emplyer and persnally. Further infrmatin is prvided in the Additinal Infrmatin Bklet. By cmbining the accunts yu have with different super funds yu may save n fees and easily keep track f yur investments. Yu can cmbine yur super int yur Grsvenr Pirie Super accunt by cmpleting the Rllver Frm available n the Grsvenr Pirie Super website r thrugh yur nline member prtal. We recmmend yu seek financial advice and cnsider any fees r lss f insurance r ther benefits befre cmbining yur accunts. Superannuatin is intended t prvide fr yur retirement and yu usually cannt access yur superannuatin until yu reach yur preservatin age (between ages 55-60, depending n yur date f birth). There are sme circumstances when yu can withdraw yur super earlier, such as severe financial hardship. General infrmatin abut super is available frm Yu shuld read the imprtant infrmatin abut hw super wrks befre making a decisin. G t sectin 1 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at r request by phning The material relating t hw super wrks may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 3: Benefits f investing with Grsvenr Pirie Super Benefits f Investing with Grsvenr Pirie Super include: Prtability: yur Grsvenr Pirie Super accunts can remain with yu as yu change jbs, apprach retirement and in yur retirement. Experience: the Investment Manager Future Super Asset Management has a lng histry f prviding investment management services. Members have an accumulatin style accunt, which means any cntributins made fr them accumulate ver time with any investment earnings (which may be psitive r negative) after taking int accunt any fees, csts r ther charges (eg. insurance premiums r taxes). Members cntributins and/r accunt are invested in a single investment strategy, referred t as the Grsvenr Pirie Super Balanced Grwth Investment strategy. There are n minimum cntributin r investment amunts required. Members can als apply fr insurance cver fr death, ttal and permanent disablement and incme prtectin at cmpetitive premium rates. Yu may als be able t transfer any existing insurance cver within ther super funds int yur Grsvenr Pirie Super accunt. See sectin 8 f this PDS fr mre infrmatin. When a member retires, r meets sme ther legislative cnditin fr payment f their superannuatin such as permanent incapacity, death r financial hardship, their accunt is payable as ne r mre lump sums r in the frm f a pensin. Fr further infrmatin abut the pensin prducts available frm Grsvenr Pirie Super (and als issued by the Trustee), refer t Grsvenr Pirie Super Pensin PDS which is available frm r n request by cntacting Grsvenr Pirie Super by phning Yu shuld cnsider the Pensin PDS befre deciding whether t acquire a pensin prduct. Yu can transfer superannuatin in r ut f this prduct. N minimum withdrawal is required. Other significant features and benefits f this prduct are: Cntributin-splitting with yur spuse is available Investment earnings are passed n t members, after allwing fr relevant fees, csts and taxes, thrugh unit prices Online reprting is available We have prcesses in place t prtect the privacy f yur persnal infrmatin. Yu may verify the receipt f the initial cntributin, the payment f any withdrawals and all changes f details via nline reprting. We shall send yu Welcme dcuments when yu make an initial investment. Yu may btain cnfirmatin f ther transactins by cntacting Grsvenr Pirie Super n Yu shuld read the imprtant infrmatin abut the benefits and features befre making a decisin. G t Sectin 2 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at r n request by phning The material relating t benefits and features may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 4: Risks f super Things yu shuld knw: - 3 -

4 All investments carry risk Different investment strategies (ptins) may carry different levels f risk depending n the assets that make up the strategy Assets with the highest lng-term returns (such as shares and prperty) may als carry the highest level f shrt-term risk. The significant risks assciated with this prduct include investment risks such as risks arising frm: changes in the ecnmic and plitical climate, and changes in gvernment plicies and superannuatin laws changes in interest rates use f derivatives inadequate diversificatin investment decisins made by the Investment Manager r external fund managers. We recmmend yu cnsult a licensed r authrised financial adviser fr assistance with hw t manage yur investment risk having regard t yur persnal bjectives, situatin r needs. Other general risks are: The value f yur investment will vary The level f returns will vary, and future returns may differ frm past returns Returns are nt guaranteed, and yu may lse sme f yur mney Superannuatin laws may change in the future; The amunt f yur future superannuatin savings (including cntributins and returns) may nt be enugh t prvide adequately yur retirement Yur level f risk will vary depending n a range f factrs including yur age, investment timeframe, where ther parts f yur wealth are invested and yur risk tlerance. Sectin 5 f this PDS cntains the risk prfile f the Grsvenr Pirie Super Balanced Grwth Investment strategy Yu shuld read the infrmatin abut risks, befre making a decisin. G t Sectin 3 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at r n request by phning The material relating t risks may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 5: Hw we invest yur mney Warning: Yu shuld cnsider the likely investment return, the risk and yur investment timeframe when chsing an investment ptin. Grsvenr Pirie Super ffers ne investment ptin Grsvenr Pirie Super Balanced Grwth Investment Optin Fr further infrmatin please refer t the Grsvenr Pirie Super Additinal Infrmatin Bklet. Grsvenr Pirie Super Balanced Grwth Investment Optin Suitability Return Objective Investment strategy: This ptin is suitable fr members cmfrtable with accepting shrt term vlatility in rder t achieve higher returns. CPI % per annum ver rlling 8 year perids The ptin aims t invest in a diverse mix f assets with the majrity in grwth assets such as shares, with a mdest invest in defensive assets f cash and fixed interest. The ptins expsure t these asset classes will be btained by primarily hlding these assets directly including Exchange Traded Funds. The ptin als prvides expsure t ther assets referred t as alternative assets. This ptin aims t prvide investrs with the highest pssible returns cnsistent with a 'Balanced' investment strategy, with a bias twards t Australian assets and an active asset allcatin and security selectin. Specific allcatins may vary but the fund will retain a brad 70/30 split between grwth and incme assets and a bias tward Australian assets Asset Classes and Benchmark Allcatins: Upper Limit Lwer Limit Benchmark Australian shares* 60.0% 35.0% 45% Internatinal shares* 30.0% 10.0% 20.0% Alternatives - Other** 10% 0.0% 5.0% Ttal grwth 70.0% Australian fixed interest 40.0% 10.0% 25.0% Cash 15.0% 2.5% 5.0% - 4 -

5 Grsvenr Pirie Super Balanced Grwth Investment Optin Minimum Suggested Investment Timeframe: Risk level: Ttal incme 30.0% 4 t 6 years Band 5: Medium t High (3 t less than 4 estimated number f negative annual returns ver any 20 year perid) * includes Prperty Securities and Real Estate Prperty Trusts ** Other may include externally managed investment funds in nn-traditinal assets such as hedge funds, alternative asset types and abslute return funds. Labur standards, envirnmental, scial r ethical cnsideratins are nt taken int accunt when cnsidering the investments f the Grsvenr Pirie Super Balanced Grwth investment strategy. The investment strategy may be changed frm time t time. The Trustee may add investment ptins. The investment strategy and bjectives are subject t review by the Trustee frm time t time with the assistance f advisers r ther service prviders as it may determine, t ensure they meet the requirements set dwn by superannuatin legislatin and fr peratinal purpses There are perids when uncertainty ccurs in investment markets encmpassing equities, fixed interest securities and prperty. In these situatins, strategic actin may need t be taken t make changes t the underlying allcatin f assets r investment categries. Any decisin will be taken depending n the length f time the uncertainty is expected t persist. Market cnditins are mnitred cnstantly fr such strategic mves t be implemented. In uncertain perids fr investment markets, we may seek the advice r recmmendatin frm the Investment Manager r external managers. Warning: We are unable t accept default members. Please nte that unless yu have chsen an investment ptin in writing we are unable t accept yur initial and further cntributins and yur mney will be returned t yur transfer Fund (if cming frm anther Super Fund) r t yur Emplyer (r any ther remittent as applicable). Yu shuld read the imprtant infrmatin including the extent t which labur standards r envirnmental, scial r ethical cnsideratins are taken int accunt befre making a decisin. G t Sectin 4 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at r n request by phning The material relating t investments may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 6: Fees and csts DID YOU KNOW? Small differences in bth investment perfrmance and fees and csts can have a substantial impact n yur lng term returns. Fr example, ttal annual fees and csts f 2% f yur accunt balance rather than 1% culd reduce yur final return by up t 20% ver a 30 year perid (fr example, reduce it frm $100,000 t $80,000). Yu shuld cnsider whether features such as superir investment perfrmance r the prvisin f better member services justify higher fees and csts. Yur r yur emplyer may be able t negtiate t pay lwer administratin fees. Ask the fund r yur financial adviser. TO FIND OUT MORE If yu wuld like t find ur mre, r see the impact f the fees based n yur wn circumstances, the Australian Securities and Investments Cmmissin (ASIC) website ( has a superannuatin fee calculatr t help yu check ut different fee ptins. Fees and csts can be paid directly frm yur accunt r may be deducted frm investment returns r Fund assets. Yu can use the fees and csts infrmatin belw t cmpare csts between different superannuatin prducts. Fr a list f definitins relating t fees please visit and als refer t Sectin 5 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at The fees and csts fr the Grsvenr Pirie Super Balanced Grwth Investment Optin are set ut in the table belw: Grsvenr Pirie Super Balanced Grwth Investment Optin TYPE OF FEE AMOUNT HOW AND WHEN PAID Investment fee 0.90% p.a. Accrued and reflected in the unit price when the unit price is calculated and paid in arrears Administratin fee $104 per year Deducted directly frm yur accunt balance n a mnthly basis, payable in arrears Plus 0.65% p.a. Accrued and reflected in the unit price when the unit price is calculated and paid in arrears

6 Grsvenr Pirie Super Balanced Grwth Investment Optin TYPE OF FEE AMOUNT HOW AND WHEN PAID Buy-sell spread Taken int accunt when the unit prices fr 0.07% buy 0.07% sell payments in and benefit payments/transfers ut are calculated* Switching fee Nil N/A Exit fee Nil N/A Advice fee relating t all members investing in the investment ptin Nil The trustee f Grsvenr Pirie Super des nt prvide r charge fr advice. If yu have a financial planner, yu can agree t pay a fee t the adviser that is deducted frm yur accunt balance. Other fees and csts 1 Varies Other fees and csts may apply. Refer t the Additinal Explanatin f Fees and Csts in the Additinal Infrmatin Bklet fr mre detailed infrmatin. Indirect cst rati 0.06% Deducted frm the Investment Returns f the underlying Investments 1 Other fees and csts may apply. Refer t the Additinal Explanatin f Fees and Csts in the Additinal Infrmatin Bklet fr mre detailed infrmatin. * The buy-sell spread is a mechanism t recver transactin csts incurred by the Trustee in relatin t the purchase, r sale, f assets fr Grsvenr Pirie Super when mnies mve int, r ut f, the Fund r Investment Optin. Example f annual fees and csts fr the Grsvenr Pirie Super Balanced Grwth Investment Optin This table gives an example f hw the fees and csts fr the Grsvenr Pirie Super Balanced Grwth Investment Optin fr this superannuatin prduct can affect yur investment ver a 1 year perid. Yu shuld use this table t cmpare this prduct with ther superannuatin prducts. EXAMPLE the Grsvenr Pirie Super Balance Grwth investment strategy BALANCE OF $50,000 Investment fees 0.90% Fr every $50,000 yu have in the superannuatin prduct, yu will be charged $450 each year PLUS Administratin fees $104 ($2 per week) And, yu will be charged $429 in administratin fees Plus PLUS Indirect csts fr the superannuatin prduct EQUALS Cst f the prduct 0.65% 0.06% p.a. And, indirect csts f $30 each year will be deducted frm yur investment If yur balance was $50,000, then fr that year yu will be charged fees f $909 fr the Grsvenr Pirie Super Balance Grwth investment strategy. Nte: Additinal fees may apply. And, if yu leave the superannuatin entity, yu may be charged an exit fee f $0 and a buy/sell spread which als applies whenever yu make a cntributin, exit r rllver. The buy/sell spread fr exiting is 0.07% (this will equal t $35 fr every $50,000 yu withdraw). The Trustee can change the amunt f fees withut yur cnsent. Any increases in fees must generally be ntified at least 30 days in advance. Estimated fees may vary frm year t year. Other fees and csts may apply. Refer t the Additinal Explanatin f Fees and Csts in the Additinal Infrmatin Bklet fr mre detailed infrmatin. Yu shuld read the imprtant infrmatin abut the fees and csts, including fee definitins, befre making a decisin. G t Sectin 5 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at r n request by phning Yu shuld read this imprtant infrmatin abut fees and csts befre making a decisin. The infrmatin relating t fees and csts may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 7: Hw super is taxed In Australia, superannuatin may be taxed at three distinct phases: When cntributins are made t a superannuatin fund; On earnings that are generated fr r by the superannuatin fund; and When withdrawals are made frm the superannuatin fund

7 Cntributins t yur superannuatin¹ Type f Cntributin Cmments Tax Rate Cncessinal (Befre-tax cntributins e.g. emplyer cntributins, salary sacrifice cntributins, cntributins by thse wh are substantially self-emplyed) Nn- Cncessinal (After-tax cntributins, e.g. persnal cntributins, spuse cntributins) ¹This infrmatin relates t the financial year 1 July 2017 t 30 June The cncessinal cntributins cap is $25,000. Fr thse under 75 years f age, the maximum per financial year is $100,000 r $300,000 ver a three year perid if yu are under 65 years f age. 15% - If the cntributin cap is exceeded, the rate is the tp marginal rate plus Medicare Levy Nil - If the cntributin cap is exceeded, the rate is the tp marginal rate plus Medicare levy. Tax n Fund Earnings: The earnings in the Fund fr accumulatin member accunts will be taxed at a maximum rate f 15%, hwever the rate may be lwer than the maximum rate due t tax credits r ther tax rebates. Tax amunts due are deducted frm yur accunt and frwarded t the Australian Taxatin Office. In cases where any tax is deducted frm yur superannuatin cntributins r balance, it is frwarded t the ATO. Warning: Yu shuld prvide yur TFN when acquiring this prduct. If we dn t hld yur TFN, higher tax will apply t yur cncessinal cntributins, we cannt accept member cntributins fr yu, the tax n superannuatin benefits may be higher and it may be mre difficult t lcate any lst super benefits r cnslidate yur superannuatin. The Trustee has als determined that it will nt accept (r will refund within 30 days) any cncessinal cntributins received fr a member where a TFN is nt held fr that member. Further infrmatin abut tax is available frm Withdrawals as a lump sum frm yur Super* Type f withdrawal cmpnent Cmments Tax Rate Taxable cmpnent Up t preservatin age Preservatin age t 59 years f age Tax-free cmpnent 60 years f age and ver; Nil N tax is payable Nil *This infrmatin relates t the financial year 1 July 2017t 30 June % + Medicare Levy N tax up t $200,000 then 15% + Medicare Levy n the balance Yu shuld read the imprtant infrmatin abut taxatin matters relevant t superannuatin befre making a decisin. G t Sectin 6 f the Grsvenr Pirie Super Additinal Infrmatin Bklet available at r n request by phning The material relating t tax may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 8: Insurance in yur super The main types f insurance cver available t yu as a member are: Death nly cver Death and Ttal & Permanent Disablement (TPD) cver Incme Prtectin cver. Insurance cver is ptinal with Grsvenr Pirie Super. Infrmatin abut the insurance ffered and hw t apply is available in the Insurance Guide. The Insurance Guide is available at r by cntacting Grsvenr Pire Super. There are csts assciated with insurance cver. Different premium rates apply t different types f cver based n yur persnal circumstances including yur age, gender, ccupatin, health status and amunt f cver. Yu are respnsible fr paying the insurance csts. Insurance premiums, calculated in accrdance with the relevant insurance premium table, and taking int accunt any ladings which may apply specifically t yu, are deducted frm yur accunt mnthly and may be adjusted fr any changes t yur cver during a financial year. We remit premiums t the Insurer mnthly. Yu can change the amunt and type f yur insurance cver at any time (fr example, yu can increase, decrease r cancel yur cver). T change yur insurance cver, yu must cmplete and submit an Insurance Cver Change frm t Grsvenr Pirie Super. Eligible members can btain insurance cver by transferring existing cver held within anther super fund when rlling ver t Grsvenr Pirie Super under transfer terms acceptable t Grsvenr Pirie Super s Insurer. The Insurance Transfer frm is available at r by cntacting us n

8 Warning: insurance terms and cnditins (in particular, eligibility criteria, cver cessatin circumstances and exclusins) may affect yur entitlement t insurance cver r the payment f insured benefits s yu shuld read the Insurance Guide befre deciding whether the insurance is apprpriate fr yu. Infrmatin abut the level and type f cver available, the actual csts f cver and ther significant matters shuld als be read befre deciding whether the insurance is apprpriate. Yu shuld read the imprtant infrmatin abut insurance including when cver starts and ends, eligibility criteria fr cmmencement f cver and payment f insured benefits, the level and types f cver available, premium csts, exclusins and ther imprtant terms and cnditins, befre making a decisin. Please read the Insurance Guide available at r n request by phning The material relating t insurance may change between the time yu read this PDS and the day when yu acquire this prduct. Sectin 9: Hw t pen an accunt? T pen an accunt yu must cmplete Applicatin Frm which accmpanies this PDS and submit it t us (cntact details n the frnt page) r jin nline using ur electrnic Applicatin Frm available This frm lets yu t make an investment chice hwever yu must read the Additinal Infrmatin Bklet befre ding s. Yu must clearly elect the investment strategies in which yu wish t invest yur superannuatin mney in yur applicatin frm. Once we receive the applicatin we will cnfirm the membership f this prduct directly with yu. If we are unable t pen yur accunt r increase yur interest fr any reasn, mnies received fr investment in the prduct may be retained in a separate trust accunt in accrdance with relevant law. Any interest n these mnies is retained in the Fund s pl f assets. Cling Off: Once yur accunt is established, yu will receive cnfirmatin f yur investment. Frm the date yu receive that cnfirmatin f investment r the end f the 5 th day after the issue f written ntificatin frm us cnfirming yur membership, whichever is earlier, yu have 14 days t ensure that this prduct meets yur needs. This is knwn as the cling-ff perid. Within this perid, yu may cancel yur accunt by advising us in writing at the fllwing address: Grsvenr Pirie Super, GPO Bx 263, Sydney, NSW, The cling-ff perid nly applies t initial investments in the prduct. It des nt apply t subsequent cntributins. Yu will nt be eligible fr cling-ff if yu have exercised any rights in respect f the initial investment r cntributin yu have made. Upn receiving a valid cancellatin request, the mney invested by yu r n yur behalf, will be refunded. The refunded amunt will be adjusted including fr increases r decreases in unit prices up t the date f cancellatin and any tax payable. Any refund will be subject t preservatin requirements under superannuatin legislatin. Preserved benefits can nly be transferred t anther superannuatin prduct. Enquiries and Cmplaints: Superannuatin legislatin requires superannuatin trustees t have in place arrangements under which members have a right t make enquiries r cmplaints abut the peratin r management f cmplying superannuatin funds. The arrangements that we have established are: Enquiries and cmplaints may be received by any medium; (e. g.: face t face, by telephne, by , by fax, r by mail) Enquiries can be made by telephne t If verbal enquiries (e.g. face t face, telephne) cannt be reslved, a written enquiry will be necessary. Any enquiry r cmplaint can be in writing r any ther suitable medium, and addressed t The Trustee, Grsvenr Pirie Master Superannuatin Fund Series 2, GPO Bx 263 SYDNEY NSW As cmplaints are received they will be acknwledged by us in writing. The cmplaint will be investigated and actin initiated t reslve the matter. A written respnse will be made as sn as pssible but within the 90-day limit prescribed by superannuatin legislatin. Fr any cmplaint that is unable t be reslved t yur satisfactin, r yu d nt receive a respnse within 90 days f yur cmplaint, the Gvernment has established an independent bdy, the Superannuatin Cmplaints Tribunal (SCT). This Tribunal s cntact details are: Superannuatin Cmplaints Tribunal Lcked Bag 3060 MELBOURNE VIC 3001 Telephne: Cmplaints may be submitted by bth current and frmer members, as well as, their beneficiaries and will largely be dealt with by crrespndence. The SCT can deal with cmplaints that relate t a decisin r a failure t make a decisin by a trustee r a persn acting fr a trustee, in relatin t a particular individual. The SCT cannt deal with certain cmplaints, fr example, cmplaints abut the management f a fund as a whle