FUTURE SUPER A SUB - PLAN OF THE GROSVENOR PIRIE MASTER SUPERANNUATION FUND SERIES 2 ( GPMSF2 or the Fund ) Diversa Trustees Limited

Transcription

1 A SUB - PLAN OF THE GROSVENOR PIRIE MASTER SUPERANNUATION FUND SERIES 2 ( GPMSF2 r the Fund ) Diversa Trustees Limited Trustee: GPMSF2: ABN: ABN: AFSL: SPIN: TC0004AU RSEL N.: L Fund Registratin N.: R Address Address Level 20, 357 Cllins Street GPO Bx 263 Melburne VIC 3000 Sydney NSW 2001 ANNUAL REPORT Fr the Year Ended 30 June 2016 We are pleased t present ur Annual Reprt fr Future Super ( Future Super ). Future Super is a sub-plan f the Grsvenr Pirie Master Superannuatin Fund Series 2 Registratin Number: R and was established as a sub-plan n 1 September We hpe yu find the Annual Reprt interesting and infrmative. If yu have any cmments r questins, please cntact Future Super n r GPO Bx 686, Canberra, ACT 2601 r visit This Annual Reprt is issued by the trustee f the Fund, Diversa Trustees Limited ( Trustee ). Neither the Trustee, any underlying investment manager nr any ther service prvider t the Fund guarantee yur accunt r the investment perfrmance f the Fund, specific investments r the repayment f capital. Investments in the Fund are subject t ecnmic cnditins and investment risk including lss f incme and capital invested. The infrmatin is f a general nature nly and has been prepared withut taking int accunt yur investment bjectives, financial situatin and needs. Befre making any investment r ther decisins in relatin t the Fund yu shuld cnsider btaining prfessinal financial advice frm a licensed r authrised financial adviser. Whilst all reasnable care has been taken in the preparatin f this reprt, the Trustee reserves its right t crrect any errrs r missins. This Annual Reprt shuld be read in cnjunctin with the annual member statement recently prvided t yu, which shws yur member entitlement in the Fund as at 30 June If yu wuld like a hard cpy f this Annual Reprt sent t yu free f charge, please cntact Future Super n The infrmatin in this Annual Reprt is intended t prvide an understanding f the management, financial cnditin and investment perfrmance that is applicable t members in the Fund. Unless therwise specified, the infrmatin in this Annual Reprt relates t the Fund. Page 1

2 Fr the Perid Ended 30 June 2016 Future Super Investments and Perfrmance There are tw (2) investment ptins in the Fund fr members f Future Super the Future Super Balanced Grwth Investment Strategy fr accumulatin members and the Future Super Balanced Grwth Pensin Strategy fr pensin members. Investment Strategy: The investment strategy f the Fund takes int accunt the fllwing criteria: (i) the risk invlved in making, hlding and realising investments, and the likely return frm thse investments, having regard t the Fund s bjectives and its expected cash flw requirements; (ii) the cmpsitin f the Fund s investments as a whle including the extent t which the investments are diverse r invlve the ptin in being expsed t risks frm inadequate diversificatin; (iii) the liquidity f the Fund s investments having regard t its expected cash flw requirements; and (iv) the ability f the Fund t discharge its existing and prspective liabilities. The bjective, strategy and asset allcatin fr each f Future Super s investment ptins is given belw. The bjective is nt a prmise r guarantee f a particular return r benefit but is utilised by the Trustee t measure the perfrmance f the ptin. Part f the Fund s assets may be allcated t external fund managers and their prducts. Asset allcatins may vary frm time t time fr varius reasns including asset allcatin decisins and market mvements. The upper and lwer limits f the benchmark may als vary frm year t year, depending n changes t the Investment Strategy made by the Trustee. Refer t the current Future Super Prduct Disclsure Statement (PDS) including related Incrprated Infrmatin fr the Fund fr mre detailed infrmatin abut the investment strategy and investment risks. The PDS is available by cntacting Future Super n Yu shuld cnsider the likely investment return, the risk and yur investment timeframe when chsing an investment ptin. Page 2

3 Fr the Perid Ended 30 June 2016 Accumulatin Members: Future Super Balanced Grwth Investment Strategy Suitability Future Super Balanced Grwth investment strategy is suitable fr members cmfrtable with accepting shrt term market/perfrmance vlatility in rder t achieve higher returns. This prduct is intended fr everyday Australians wh want t shift their retirement savings away frm cmpanies and activities which are harmful t the envirnment and sciety, and instead want t see their super invested in cmpanies and activities which make a psitive impact. The ptin aims t invest in a diverse mix f assets with the majrity in the grwth assets such as shares, and a mdest investment in defensive assets such as cash and fixed interest. The ptin s expsure t these asset classes will be btained primarily by hlding assets directly, including Exchange Traded Funds. Investment Strategy: This ptin aims t prvide investrs with the highest pssible returns cnsistent with a 'balanced grwth' investment strategy, thrugh investment in cmpanies and assets, and will avid investment in the cmpanies wh prvide services r finance t the fssil fuel industry. Specific allcatins may vary but the Investment Optin will retain a brad 70/30 split between grwth and incme assets and a bias tward Australian assets. The Fund will be invested using bth a negative and psitive screening prcess. The Fund will initially analyse all stcks in the ASX300 and apply a negative and psitive screen. The Fund will als seek ut psitive investment pprtunities utside the ASX 300, as well as identify fssil fuel free cash and fixed interest ptins. Investment Return Objective: Investr hrizn Asset Classes and Benchmark Allcatins: Track r utperfrm the Mrningstar Australia Multi Sectr Balanced Index ver rlling 3 year perids. Minimum 4-6 years Upper Limit Lwer Limit Benchmark Australian shares 70% 35% 55.0% Internatinal shares 15% 0% 5.0% Prperty securities 15% 5% 10.0% Ttal grwth 70.0% Australian fixed interest 45% 15% 25.0% Cash 20% 5% 5.0% Estimated number f negative annual returns (Risk Objective) Ttal incme 30.0% Medium t High (3 t less than 4 estimated negative annual returns ver any 20- year perid). Page 3

4 Fr the Perid Ended 30 June 2016 Pensin Members: Future Super Pensin Balanced Grwth Strategy Suitability: Future Super Pensin investment strategy is suitable fr members seeking bth grwth and incme frm their retirement savings and a balance between risk and return. This prduct is intended fr everyday Australians wh want t shift their retirement savings away frm cmpanies and activities which are harmful t the envirnment and sciety, and instead want t see their super invested in cmpanies and activities which make a psitive impact. Nt available fr members under the age f 55 years. Investment Strategy The ptin aims t invest in a diverse mix f assets with the majrity in the grwth assets such as shares, and a mdest investment in defensive assets such as cash and fixed interest. The ptin s expsure t these asset classes will be btained primarily by hlding assets directly, including Exchange Traded Funds. This ptin aims t prvide investrs with the highest pssible returns cnsistent with a 'balanced grwth' investment strategy, thrugh investment in cmpanies and assets, and will avid investment in the cmpanies wh prvide services r finance t the fssil fuel industry. Specific allcatins may vary but the Investment Optin will retain a brad 70/30 split between grwth and incme assets and a bias tward Australian assets. Investment Return Objective Investr hrizn Asset Classes and Benchmark Allcatins: Track r utperfrm the Mrningstar Australia Multi Sectr Balanced Index ver rlling 3 year perids. Minimum 4-6 years Upper Limit Lwer Limit Benchmark: Australian shares 70% 35% 55.0% Internatinal shares 15% 0% 5.0% Prperty securities 15% 5% 10.0% Ttal grwth 70.0% Australian fixed interest 45% 15% 25.0% Cash 20% 5% 5.0% Ttal incme 30.0% Estimated number f negative annual returns (Risk Objective) Medium t High (3 t less than 4 estimated negative annual returns ver any 20-year perid). Page 4

5 Fr the Perid Ended 30 June 2016 The Accunt Based Pensin Investment Optin is the nly investment ptin available t Pensin members, including members with standard Accunt Based Pensins and Transitin t Retirement Pensins. An accunt based pensin can prvide a flexible, tax-effective way t cnvert sme r all f yur superannuatin int a regular incme stream subject t minimum (and in the case f Transitin t Retirement pensins, a maximum) annual payment limit. Call Future Super n fr mre infrmatin abut pensin eligibility criteria and cnsider the Pensin PDS befre making any decisin t acquire a pensin frm the Fund (available by cntacting the Future Super n r write t Future Super, GPO Bx 686 CANBERRA ACT 2601). Net Earnings Rate: The Net Earnings Rate f the Future Super investment ptins, after prviding fr administratin and management fees and fr any tax n investment earnings (ther than fees and csts deducted directly frm yur accunt), in accrdance with the Allcatin f Earnings Plicy as described belw, is as fllws: Investment Optin Future Super Balanced Grwth Future Super Pensin Cmpund Average Return t 30 June 2016 (p.a.) 7.2% 7.4% Cmpund Average Return frm inceptin (p.a.) 6.9% 1 7.0% 2 Please nte, past investment perfrmance is nt a reliable indicatr f future investment perfrmance. Fr infrmatin abut the fees and csts deducted prir t the calculatin f net earnings see the Fees and Other Csts sectin f the current PDS applicable t yur accunt, available frm Future Super. Grss Assets f the Fund: The assets f the Fund are invested acrss a range f asset classes. The value f each asset class and the percentage that it represents f the Fund s assets are set ut belw: 30 June 2016 % f Assets Amunt $ Cash and cash equivalents ,610,098 Term Depsits 4.3 9,921,814 Crprate Bnds ,491,566 Exchange traded funds 0.5 1,063,123 Listed shares ,191,753 Whlesale managed funds ,447 Other assets * 0.6 1,321,406 Ttal Assets ,726,207 * Other includes deferred tax assets, accunts receivables and sundry assets. 1 1 September 2014 is the inceptin date f the Future Super Balanced Grwth Investment strategy 2 10 June 2015 is the inceptin date f the Future Super Pensin Investment strategy Page 5

6 Fr the Perid Ended 30 June 2016 Significant Investments: As at 30 June 2016 assets held which individually represent greater than five (5) per cent f the ttal assets f the Fund r the ten (10) highest percentage f the ttal assets, were as fllws: Asset: Grsvenr Pirie Master Superannuatin Fund Series 2 % $ Bendig and Adelaide Bank Limited Cash at Bank + Ordinary Shares Telstra Crpratin Limited Ordinary Shares Bank f Queensland Limited Ordinary Shares Suncrp Grup Limited Ordinary Shares Insurance Australia Grup Limited Ordinary Shares NEXTDC Limited - Ordinary Shares Cmputershare Limited Ordinary Shares Stckland Grup Limited - Ordinary Shares ASX Limited - Ordinary Shares ResMed Inc. Ordinary Shares ,871,328 14,048,830 12,720,602 11,400,179 8,408,997 8,250,375 8,066,390 7,906,912 7,560,924 7,495,760 The Future Super sub plan is part f the Grsvenr Pirie Master Superannuatin Fund Series 2. As at 30 June 2016 assets inside the Fund which individually represent mre than five (5) per cent f ttal assets (r the ten (10) highest percentage assets) were: Asset: Future Super sub plan % $ Bendig Bank - Cash at Bank + Cash equivalents Bank f Queensland Limited Ordinary Shares Suncrp Grup Limited Ordinary shares Telstra Crpratin Limited Ordinary Shares Insurance Australia Grup Limited Ordinary Shares ResMed Inc. Ordinary Shares Cmputershare Limited Ordinary Shares ASX Limited - Ordinary Shares Virtus Health Limited Ordinary Shares Mirvac Grup Stapled - Ordinary Shares ,649,170 11,186,634 10,870,587 9,185,208 8,218,247 7,495,730 7,308,490 6,665,401 6,490,776 6,333,710 Page 6

7 Fr the Perid Ended 30 June 2016 Allcatin f Earnings Plicy: As the Fund is unitised, the value f yur accunt at any time is the number f units held by yu multiplied by the applicable unit price. Earnings frm investments are allcated t members thrugh the calculatin f unit prices (usually weekly) fr the investment ptin. The calculatin f unit prices takes int accunt the perfrmance f underlying investments and any fees, csts and taxes as applicable t the investment ptin. Refer t the current PDS applicable t yur accunt fr mre detailed infrmatin abut unit pricing, available by cntacting Future Super n Smetimes unit pricing errrs may ccur. In the event that a material unit price errr is detected and requires rectificatin, the Trustee may apply a fixed dllar minimum f $20 when determining whether exited (frmer) members affected by the errr shuld be cmpensated. Derivatives: The Fund may invest in instruments that are, r appear like, derivatives arising frm its investment activity. Derivatives are generally cntracts that call fr mney t change hands at sme future date, such as cmpany issued ptins r listed exchange traded warrants r freign exchange cntracts. While derivatives may be used in the prtfli, they are nt permitted fr gearing r speculative purpses. Reserves: Operatinal Risk Reserve: As part f the Strnger Super refrms, all superannuatin funds are nw required t establish and maintain an Operatinal Risk Reserve (ORR) t specifically cver ptential lsses arising frm peratinal risks that may affect the Fund s business peratins. The Trustee will build up the ORR within the Fund t the defined target amunt ver a transitin perid leading up t 30 June The peratinal risk reserve is accumulated at up t 0.15% p.a. and indirectly applied thrugh the weekly unit price calculatin. The mvement f the Operatinal Risk Reserve fr the Fund since implementatin is as fllws: Balance: Balance: 30th June 2014 Balance: 30th June 2015 $0 $162,563 Balance: 30th June 2016 $609,515 The investment strategy in respect f the ORR is t hld all f its investments in Australian incme securities including cash, term depsits, flating rate ntes and bnds. This is designed t ensure there will nt be large mvements in its value due t investment market mvements. Page 7

8 Fr the Perid Ended 30 June 2016 Buy/Sell Csts: When a member buys r sells units, this initiates a need fr the Trustee t trade the underlying assets that relate t the particular investment transactin. This trading generates transactin csts such as brkerage, settlement csts (including custdy csts), gvernment taxes/duties/levies, bank charges and accunt transactin charges which are paid frm the investment ptin. These transactin csts are reflected in a buy/sell spread that is taken int accunt in the calculatin f unit prices. The buy/sell spread is the difference between the entry price and exit price f units and is an additinal cst incurred by members each time they invest (including via rllvers frm ther funds) r withdraw funds. The buy/sell spread is retained within the Fund and cntributes twards the transactin csts assciated with the Fund buying r selling assets in relatin t investment transactins initiated by members r relating t the administratin f member accunts. The spread ensures that thse members jining r leaving the Fund r prduct, r switching investment ptins, cntribute twards these transactin csts and ther investrs wh are nt jining, leaving r switching investments at that particular time are nt disadvantaged. The buy/sell spread fr the investment ptin is made up f the fllwing csts: Investment Strategy: Buy Sell Future Super 0.20% 0.20% Future Super Pensin 0.20% 0.20% The mvement f the buy/sell reserve fr the Fund since implementatin is as fllws: Changes in buy/sell reserve Reserve balance at the beginning $43,529 $34,919 $17,315 f the reprting perid Plus: Transfers int reserve 0 $175,321 $17,604 Plus: Earnings n reserve Less: Transfers ut f reserve ($43,529) ($166,711) 0 Balance: 0 $43,529 $34,919 Page 8

9 Fr the Perid Ended 30 June 2016 Financial Statements: The audit f the Fund (encmpassing all membership segments including the Future Super) fr the year ended 30 June 2016 has been cmpleted and the Auditr has issued an unqualified pinin n the Fund s financial statements. Yu may btain a cpy f the fully audited accunts and the auditr s reprt by calling Future Super n The fllwing abridged financial infrmatin has been taken frm the audited financial statements fr the Grsvenr Pirie Master Superannuatin Fund Series 2 fr the year ended 30 June 2016: Statement f Financial Psitin fr Year Ended 30 June $ $ Assets Cash and cash equivalents 16,610,098 12,553,673 Term Depsits 9,921,814 5,875,630 Investments held at net market value 201,872, ,133,98 8 Other assets Receivables 1,167,768 1,231,466 Deferred tax assets 153, ,470 Ttal assets 229,726, ,965,227 Liabilities Accunts payable and accrued expenses 1,024,256 2,840,653 Current tax liabilities 909, ,015 Deferred tax liabilities 637, ,765 Ttal liabilities 2,571,427 3,563,433 Net assets available t pay benefits 227,154, ,401,794 Represented by: Liability fr accrued benefits Allcated t members accunts 224,840, ,093,277 Buy/Sell Reserve 0 43,529 Operatinal Risk Reserve 609, ,563 Nt yet allcated 1,704, , ,154, ,401,794 Page 9

10 Fr the Perid Ended 30 June 2016 The Trustee: The legal entity respnsible fr managing the Fund is Diversa Trustees Limited, ABN , AFSL , RSE L , a prfessinal trustee cmpany. The Trustee s Bard f Directrs during the year ended 30 June 2016 were cmprised f: Name: Mr. Mark Cerche (Chairman) Appinted 1 September 2014 Mr. Murray Jnes (Directr) Appinted 1 September 2014 Mr. Andrew de Vries (Directr) Appinted 1 September 2014 Mr. Vincent Parrt (Executive Directr) Appinted 1 September 2014 Mr. Luke Barrett (Directr) Appinted 23 June 2016 Indemnity Insurance: The Trustee has a prfessinal indemnity insurance plicy t indemnify the Trustee and its Directrs in case f certain lsses due t a claim against the Trustee. Nt all lsses are cvered by the insurance plicy and the extent f any indemnity is subject t the terms f that plicy. Service prviders: The Trustee uses a number f prfessinal service prviders t ensure the Fund perates as efficiently as pssible. These may change at the discretin f the Trustee frm time t time. Service prviders include: Investment Manager: Administratr: Grsvenr Pirie Management Limited Grsvenr Pirie Management Limited ABN: AFSL: ABN: AFSL: Page 10

11 Fr the Perid Ended 30 June 2016 What happens if yu lse cntact with this Fund? The SIS Act allws trustees t nminate an Eligible Rllver Fund (ERF). In special circumstances (and subject t any bligatin n the Trustee t pay superannuatin accunts t the ATO as lst r unclaimed mnies), the Trustee may transfer yur accumulated benefit t an ERF withut yur permissin. The Trustee may transfer a Member s benefit t an ERF in the fllwing circumstances: the Member is uncntactable; r the Fund has never had an address fr the Member; r written cmmunicatins have been returned; r the Fund has nt received a cntributin fr the Member in the last 5 years; r the Member transferred frm anther Fund as a lst member ; r under the cling-ff prvisins, the Member s nminated superannuatin r apprved depsit fund refuses t accept the benefits that are being transferred r rlled ver. In an ERF, different fees and csts and investments apply t thse in the Fund and an ERF des nt prvide insurance cver. The Trustee has elected the Super Mney Eligible Rllver Fund ( SMERF ) as the ERF t which it will make payments under these circumstances. The cntact details f SMERF are: Cntact Persn: The Administratr Super Mney Eligible Rllver Fund ( SMERF ) PO BOX A2499 SYDNEY SOUTH NSW Free Call: Fax: Once yur benefit has been paid t an ERF, yu will n lnger be a Member f the Fund and all insurance cver will cease. Instead, yu will becme a member f SMERF and be subject t its gverning rules. If SMERF hlds yur current cntact details, yu will be prvided with a PDS fr the ERF utlining the peratinal and membership details f that fund. If yu wuld like mre infrmatin abut SMERF, cntact the administratr fr SMERF (cntact details abve) fr a PDS. Diversa Trustees Limited is als the trustee f the SMERF and receives remuneratin in this capacity. If, as a result f lsing cntact with yu, yu are classified as a lst member fr the purpses f the SIS Act, the Trustee is als required t reprt yur details t the Australian Taxatin Office s Lst Member Register. Yu can search the Lst Member Register t lcate lst benefits by visiting Page 11

12 Fr the Perid Ended 30 June 2016 MySuper Due t changes in superannuatin legislatin, there have been a number f amendments made by the Federal Gvernment as part f the Super refrms knwn as "Strnger Super". These changes (which tk effect 1 January 2014) stated that if a member des nt make a written investment chice within their superannuatin fund, that any cntributins cannt be accepted int their accunt. In additin t this, if a member had nt made an investment chice r their accunt balance remains 100% invested within the default ptin, their accunt balance as at this time wuld be classified as an Accrued Default Amunt (ADA). This legislatin requires all ADA s held in superannuatin funds must be mved t a MySuper prduct by 30 June If yu have an accrued default amunt in yur super, further infrmatin will be prvided in yur annual member benefit statement including when and which MySuper fund the Trustee will be mving yur ADA int by 30 June Other Infrmatin Legislative update: Nte: This update was cmpiled as at December 2016 and is subject t change. Fr up t date infrmatin g t r cntact the Fund Administratr. This sectin cntains changes annunced by the Gvernment (but which are still nt law) as well as changes that have recently been implemented. Changes t release f benefits fr terminal illness On 1 July 2015, the maximum life expectancy perid that must be medically certified fr superannuatin accunt balances t be released in the case f terminal illness has been increased frm 1 year t 2 years. Please nte, eligibility fr insured benefits depends n the relevant insurance plicy. The Gvernment s change des nt necessarily alter the requirements that must be met fr insured benefits t be paid under an insurance plicy. This amendment tk effect n 1 July Superannuatin changes annunced in the 2016 Federal Budget: The 2016 Federal Budget included a number f significant prpsals in relatin t superannuatin. The main changes are A reductin in the annual cncessinal cntributins cap t $25,000, regardless f age. This is prpsed t cmmence frm 1 July 2017; Frm 1 July 2017, the gvernment will ablish the anti-detriment rule. Remving the requirement that yu must receive less than 10% f the ttal f yur assessable incme, reprtable fringe benefits and reprtable emplyer superannuatin cntributins frm activities which yu engaged in as an emplyee, befre yu can claim a tax deductin n persnal cntributins. This is prpsed t cmmence frm 1 July 2017; Increasing the incme threshld fr eligibility fr a rebate n cntributins made n behalf f a spuse frm $10,800 t $37,000. This is prpsed t cmmence frm July 2017; Reducing the incme threshld fr the Divisin 293, additinal 15% tax n cncessinal cntributins, frm $300,000 t $250,000. This is prpsed t cmmence frm 1 July 2017; Page 12

13 Fr the Perid Ended 30 June 2016 In additin, the Budget has prpsed a new limit f $1.6m n accumulated superannuatin that can be used t cmmence a superannuatin pensin. Members with existing pensins balances greater than $1.6m will need t reduce their balances belw this threshld, either by transferring the excess amunt t an accumulatin accunt (where earnings will be taxed at the cncessinal rate f 15%), r withdrawing the excess amunt frm the fund (where permissible). General: If yu have any queries abut the Fund s peratins please cntact Future Super n: during ffice hurs, r write t, Future Super, GPO Bx 686, Canberra ACT Yu als shuld find mst infrmatin that yu need t knw abut this prduct in the current PDS applicable t yur accunt, in this Annual Reprt and in yur Annual Member Statement. A cpy f the latest PDS relevant t yu is available n request r n the Administratr s website at Yu have the right t inspect r request cpies f infrmatin abut the Fund including the fllwing: Trust Deed Audited Financial Accunts and Auditr s Reprts Requests shuld be in writing and addressed t the Trustee as stated abve. Page 13

14 Fr the Perid Ended 30 June 2016 Enquiries and Cmplaints: If yu have any enquiries abut yur superannuatin entitlements, please call Custmer Service n The Trustee is bliged t prvide yu with infrmatin yu reasnably require t understand yur benefit entitlements. If yu have a cmplaint, please call r write t us n r GPO Bx 686, Canberra, ACT If yu are nt satisfied with the handling f yur cmplaint, r yur cmplaint has nt been reslved within 90 days, yu may cntact the Superannuatin Cmplaints Tribunal (SCT) fr the price f a lcal call n r send yur cmplaint t Lcked Bag 3060, Melburne, The SCT is an independent bdy set up by the Federal Gvernment t assist in reslving superannuatin cmplaints. Cntributins surcharge: During the reprting perid, we may have received a surcharge assessment frm the Australian Taxatin Office (ATO). The amunt payable in respect f members is deducted frm the relevant member s accunt and remitted t the ATO. Frmer Temprary Residents Superannuatin: The Trustee has an bligatin t pay unclaimed superannuatin f a nn-resident t the Cmmissiner f Taxatin under Divisin 3 f Part 3A f the Superannuatin (Unclaimed Mney and Lst Members) Act The Trustee relies n ASIC relief t the effect that the Trustee is nt bliged t ntify r give an exit statement t a nn-resident in circumstances where the Trustee pays unclaimed superannuatin t the Cmmissiner f Taxatin. Als, please nte that nn-residents have a right t make applicatin t the Cmmissiner f Taxatin in rder t claim the unclaimed superannuatin under Divisin 4 f Part 3A f the abve mentined Act. Fr further infrmatin, g t r cntact the Australian Taxatin Office n Mre infrmatin: Further infrmatin is available n request. Fr mre infrmatin abut the Fund r this prduct please cntact Future Super n and ask fr the current PDS including related Incrprated Infrmatin r visit Future Super s website: r write t GPO Bx 686, Canberra ACT Disclaimer: Reasnable care is taken t ensure that infrmatin is crrect, but neither the Trustee nr its service prviders accept respnsibility fr any errrs, misprints r fr anyne acting n this infrmatin. The Trustee reserves its right t crrect any errrs r missins. The terms f yur membership in the Fund are set ut in the Fund s Trust Deed and any applicable insurance plicy and prduct disclsure statement. Shuld there be any incnsistency between the Trust Deed and ther dcuments, the terms f the Fund s Trust Deed will prevail. The Trustee reserves the right t amend the terms and cnditins f the Fund in accrdance with the prvisins f the Trust Deed and superannuatin law. The Trustee may als withdraw the prduct disclsure statements and clse the Fund. Page 14