Toyota Australia Superannuation Plan

Transcription

1 Toyota Atralia Superannuation Plan 2015 Trtee Report Click on a tab to easily navigate this year s Report 1

2 Contents Back page If you have a query about, contact the Super Hotline on or help@toyotasuper.com.au. About your Trtee Report This Trtee Report has been prepared for members of the Toyota Atralia Superannuation Plan, ABN It outlines how the Toyota Atralia Superannuation Plan has performed during the past 12 months and how the Plan is managed. The information in this publication is general information only and does not take into account your particular objectives, financial circumstances or needs. It is not personal or tax advice. Any examples included are for illtration only and are not intended to be recommendations or preferred courses of action. You should consider obtaining professional advice about your particular circumstances before making any financial or decisions based on the information contained in this document. Information on tax and superannuation legislation is current as at the date of publication and may change. This Report was issued by Toyota Atralia Superannuation Plan Pty Ltd ABN , AFSL No , as Trtee of the Toyota Atralia Superannuation Plan, ABN MySuper Authorisation number Preparation of this Trtee Report was completed on 22 October

3 Welcome to the Trtee Report for the year to 30 June Each year, your Trtee Report provides important information to help you understand how is going. This includes an update on the Plan s, management and a of our financials. After a solid during most of the year, markets fell on the last day of the financial year becae of the financial crisis in Greece. Overall however, 2014/15 was generally a good year, with shares, particularly international shares, producing strong results. This had a particularly positive effect on the Aggressive Option which had double-digit returns for a third consecutive year. There was one change to the Trtee Board during the year with Greg Johns retiring from the Board. He was replaced by Adam Hopkins on 30 March For more information on how your Plan is managed, see page 12. The Trtee continues to review the impact on the Plan of Toyota s announcement that it intends to close its manufacturing operations in Atralia. Rest assured that we will keep you informed of all developments in relation to. The Trtee s role is to manage the Plan for your ultimate benefit. We welcome any questions or feedback. See the back page for our contact details. The Trtee Toyota Atralia Superannuation Plan Overview of returns Past is not necessarily a reliable indicator of future. % Aggressive Growth / MySuper Growth Moderate Cash Pension Aggressive Pension Growth Pension Moderate 2.7 Year to 30 June 2015 Five-year compound average net return (per year) 10-year compound 1 average net return (per year) Pension Cash Notes: Investment returns for Pension members are net of fees. Other returns are net of tax, fees and from 30 June 2014, an allowance of 0.08% p.a. to build up the Plan s Operational Risk Requirement (ORFR) reserve. See page 12 for more information on the ORFR reserve. Information for Defined Benefit members is on page 5. 1 The 10-year compound average returns for members in the Pension options are for the periods since inception. For Pension Growth and Pension Cash the period is from 8 February 2008 to 30 June For Pension Aggressive and Pension Moderate the period is from 1 February 2010 to 30 June Source: Atralian Bureau of Statistics CPI

4 Our returns are shown in the table below. When looking at how is performing, remember that super varies from year to year depending on changes in the markets. Super returns can be positive or negative. In most cases, super is a long-term. This means that returns over a longer term, such as ten years, rather than one or two years, are likely to be a better indicator of s. Returns to 30 June Past is not necessarily a reliable indicator of future. Investment option Five-year compound average net return (per year) Accumulation, Retained Benefit and Spoe members 10-year compound average net return 1 (per year) Aggressive 11.8% 17.7% 22.3% -3.1% 9.2% 11.2% 6.9% Growth/MySuper Growth 9.0% 13.5% 16.5% 0.2% 8.6% 9.4% 6.4% Moderate 5.3% 7.3% 8.6% 4.6% 7.2% 6.6% 5.8% Cash 2.3% 2.7% 3.5% 4.3% 4.6% 3.5% 4.2% Pension members Pension Aggressive 12.1% 19.0% 24.2% -2.6% 12.2% 12.6% 11.1% Pension Growth 10.1% 15.6% 18.5% 0.4% 10.7% 10.9% 6.8% Pension Moderate 6.4% 9.2% 9.7% 5.1% 8.8% 7.8% 7.1% Pension Cash 2.7% 3.1% 3.9% 4.8% 5.3% 4.0% 4.5% CPI 2 1.5% 3.0% 2.4% 1.2% 3.6% 2.3% 2.7% Notes: Investment returns for Pension members are net of fees. Other returns are net of tax, fees and from 30 June 2014, an allowance of 0.08% p.a. to build up the Plan s Operational Risk Requirement (ORFR) reserve. See page 12 for more information on the ORFR reserve. Information for Defined Benefit members is on page 5. 1 The 10-year compound average returns for members in the Pension options are for the periods since inception. For Pension Growth and Pension Cash the period is from 8 February 2008 to 30 June For Pension Aggressive and Pension Moderate the period is from 1 February 2010 to 30 June Source: Atralian Bureau of Statistics. 4 4

5 Defined Benefit members super Defined benefit The table below compares the declared crediting rate for the defined benefit assets with the cost of living, as measured by the CPI, over the past five years. Since 1 July 2005, the assets supporting your defined benefit have been invested in a similar way to Growth/MySuper Growth. Returns to 30 June Past is not necessarily a reliable indicator of future Five-year compound average return (per year) 10-year compound average return (per year) Declared crediting rate 9.0% 13.6% 16.3% 0.0% 8.4% 9.3% 7.0% 1 CPI 2 1.5% 3.0% 2.4% 1.2% 3.6% 2.3% 2.7% 1 The earning rate was 6.4% per year see below for more information. 2 Source: Atralian Bureau of Statistics. Declared crediting rate On 1 July 2006, the Trtee ceased ing a smoothing policy to regulate the Plan s crediting rates. All remaining reserves were distributed in the crediting rate at 30 June From that date, the Plan s crediting policy has been to set the declared crediting rate as equal to the effective earning rate (net of taxes and fees, and from 30 June 2014, an allowance of 0.08% p.a. to build up the Plan s ORFR reserve). As a result of smoothing within the 10-year period, at 30 June 2015 the 10-year compound average earning rate was 6.4% per year. Interim crediting rate Investment earnings are generally calculated on a monthly basis. If you leave the Plan, an interim rate will be ed in the calculation of your benefit. This will cover the period from the previo annual review date until the date your benefit is paid. The interim rate is based on the Plan s monthly net returns. A cash rate applies in months where the actual monthly return is not yet available. Actuarial review An actuarial investigation into the Plan s financial position is conducted by the Plan s actuary at least every three years. The actuary then makes a recommendation to Toyota on the appropriate level of future contributions needed to maintain members benefits. Toyota is currently contributing in line with the actuary s recommendations. The most recent review at 1 July 2012 showed that the Plan was in a satisfactory financial position at that time. The Trtee will continue to monitor the Plan s financial position on a regular basis until the next actuarial review is finalised. 5

6 Returns on your accounts Accumulation and Pension members Accumulation and Pension members have choice. This means that you can decide how to invest your super by choosing from four options. If you have not made an choice, your contributions and account balances are invested in Growth/MySuper Growth, or Pension Growth if you are a Pension member. The value of your accumulation accounts rises or falls according to how the underlying s in your chosen option perform. Your super earns the actual return achieved by your chosen option (or MySuper Growth if you are a MySuper member) after allowing for tax and fees, and from 30 June 2014, an allowance of 0.08% p.a. to build up the Plan s ORFR reserve. Note that Pension members do not pay tax on earnings. Defined Benefit members As a Defined Benefit member, the main defined part of your benefit is generally not affected by returns after age 55. This benefit is calculated ing a formula that is linked to your salary. However, members under age 55 will have an accumulation benefit which is affected by market. The Plan s defined benefit assets are invested in a similar way to Growth and the declared crediting rate is applied to your defined benefit accounts. If you make additional voluntary contributions or have rolled super into the Plan from other funds, you also have an accumulation account. This account is affected by, so its value may increase or decrease depending on how markets perform. You have choice for your accumulation accounts and can choose to invest them in any of the four options. The return you receive on these amounts is the earnings of your chosen option (after tax, fees and from 30 June 2014, an allowance of 0.08% p.a. to build up the ORFR reserve) or, if you did not make an choice, the return of Growth. Unit prices Investment earnings are applied to your accumulation accounts via changes to the option s unit price. Unit prices are calculated on a weekly basis and at 30 June each year in accordance with the Trtee s Unit Pricing Policy. The unit price for each option will reflect the value of the underlying s after making provision for fees for Pension assets, and tax, fees and an allowance to build up the ORFR reserve (see page 12) for other assets. 6

7 Are you an Accumulation or Pension member? You choose how you want invested from four options for Accumulation members (including Retained Benefit and Spoe members) and four options for Pension members. See from page 8 for details. If you don t choose an option, will be invested in Growth/MySuper Growth, or Pension Growth if you re a Pension member. Are you a Defined Benefit member? You only have choice for your additional voluntary contributions and rollovers. The options available for these amounts are the same as those available to Accumulation members. Investment objectives Investment objectives are specific goals that the Trtee sets for the of the Plan and each option. They are not intended as forecasts or guarantees of future returns. Generally, the Trtee aims to: Invest the Plan s assets prudently as permitted by the Trt Deed and by superannuation law, Invest across a diverse range of assets, Ensure that the Plan is able to make benefit payments to members when they are due, and Monitor the of the Plan s managers to ensure they exercise integrity, prudence and professional skill in fulfilling the tasks delegated to them. See pages 8 to 11 for the specific objectives for each option. Investment strategy An strategy is the plan the Trtee follows to achieve the objectives of an option. Each option has its own strategy. For details of each option s strategy, see pages 8 to 11. Investment managers The Plan s assets are managed through an MLC Life Insurance Policy. The s are managed by professional managers with the assistance of the Trtee s adviser, JANA Investment Advisors (JANA). JANA is responsible for manager selection. These managers and their products are reviewed regularly by the Trtee, through its adviser, and may be changed from time to time without prior notice to, or consent from, members. The Plan s managers at 30 June 2015 were: Atralian shares Balanced Equity Management Pty Ltd BT Investment Management (Institutional) Limited Concise Asset Management Limited Cooper Investors Pty Ltd Fairview Equity Partners Pty Ltd FIL Limited Invesco Atralia Limited Paradice Investment Management Pty Ltd Solaris Investment Management Ltd Ubique Asset Management Pty Ltd International shares Acadian Asset Management LLC Carnegie Asset Management Fondsmaeglerselskab A/S Delaware Investments Atralia Harding Loevner LLC Jan Capital Management Ltd Neuberger Berman Atralia Pty Limited Pzena Investment Management LLC Sands Capital Management LLC Schroders Investment Management Atralia Limited Tweedy, Browne Company LLC Walter Scott & Partners Limited Property AMP Capital Investors Limited Charter Hall Funds Management Limited DEXUS Wholesale Property Group Limited Morgan Stanley Investment Management Limited Resolution Capital Limited SG Hiscock & Company Limited Growth alternatives BlackRock Inc RARE Infrastructure Limited Defensive alternatives JANA Investment Advisers Pty Ltd (Triplepoint and JANA Alternative Strategies Trt) Shenkman Capital Management, Inc Diversified fixed interest Fischer Francis Trees & Watts Inc Franklin Templeton Investments Atralia Limited Insight Investment Management (Global) Limited Loomis Sayles & Company LP PIMCO Atralia Pty Limited Wellington Management Company, LLP UBS Asset Management (Atralia) Limited Cash Antares Capital Managing derivative risk The Trtee does not invest directly in derivatives. The Plan s managers may e derivatives for risk control purposes or to more efficiently change asset allocations. Derivatives are not ed in a speculative manner. Investment managers are required to have risk management processes in place in relation to the e of derivatives and the purposes for which they are ed. Each year, the Trtee obtains confirmation from the managers that they have complied with their processes. 7

8 The Plan's options For more information about the s offered by the Plan, please refer to the Product Disclosure Statement for your membership category, available from Aggressive Growth/MySuper Growth (This is also the strategy for defined benefit assets including defined benefit accounts.) What are the objectives for this option? The long-term objective of this option is to achieve returns after tax and fees that exceed CPI increases by at least 5.0% p.a. over rolling five-year periods. On a rolling three and five year basis, a rate of return above a composite based on the benchmark allocation of the underlying SuperRatings High Growth Survey medians adjted for tax and fees will be sought. The long-term objective of this option is to achieve returns after tax and fees that exceed CPI increases by at least 4.0% p.a. over rolling five-year periods. On a rolling three and five year basis, a rate of return above the median of the SuperRatings Balanced Option Survey of diversified superannuation funds will be sought. On a rolling three-year basis, out will be sought relative to the notional return on a benchmark portfolio designed to reflect the risk profile according to which the assets are invested. On a rolling three-year basis, out will be sought relative to the notional return on a benchmark portfolio designed to reflect the risk profile according to which the assets are invested. In pursuing the above return objective the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 4 to 6 years out of every 20 years, which corresponds to a Volatility Level of 6: High based on the Standard Risk Measure. In pursuing the above return objective the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 3 to 4 years out of every 20 years, which corresponds to a Volatility Level of 5: Medium to High based on the Standard Risk Measure. What strategy does this option e? How is the option invested? Invest over 90% in shares and property, and the balance in cash Invest in a diversified portfolio with approximately 70% in shares and property, and 30% in fixed interest and cash. Asset mix at 30 June 2015 Asset mix at 30 June 2014 Asset mix at June 2015 Asset mix at 30 June % 2.2% 10.3% 1.9% 10.6% 8.3% 10.0% 11.0% 27.7% 29.4% 43.5% 42.7% 9.6% 9.4% 43.6% 45.1% 2.1% 2.2% 28.1% 30.2% 11.0% 10.4% Defined Benefit members Atralian shares 27.3% 29.5% International shares 28.8% 30.8% Property 11.0% 10.4% Growth alternatives 2.1% 2.0% Diversified fixed interest 9.6% 9.8% Defensive alternatives 10.9% 9.7% Cash 10.3% 7.9% What is the benchmark asset allocation? Atralian shares 50% International shares 37% Property 10% Growth alternatives 0% Diversified fixed interest 0% Defensive alternatives 0% Cash 3% Atralian shares 35% International shares 25% Property 10% Growth alternatives 0% Diversified fixed interest 10% Defensive alternatives 5% Cash 15% 8

9 Moderate Cash What are the objectives for this option? The long-term objective of this option is to achieve returns after tax and fees that exceed CPI increases by at least 2.5% p.a. over rolling five-year periods. On a rolling three and five year basis, a rate of return above the median of the SuperRatings Stable Options Survey of diversified superannuation funds will be sought. On a rolling three-year basis, out will be sought relative to the notional return on a benchmark portfolio designed to reflect the risk profile according to which the assets are invested. On a rolling one-year basis, in line with the return on UBSA Bank Bill Index will be sought. To achieve positive returns after tax and fees each month. In pursuing the above return objectives the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 0% in any particular year, which corresponds to a Volatility Level of 1: Very Low based on the Standard Risk Measure. What strategy does this option e? In pursuing the above return objective the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 1 year out of every 20 years, which corresponds to a Volatility Level of 3: Low to Medium based on the Standard Risk Measure. Invest in a conservative mix of asset classes, including approximately 30% in shares and property, and 70% in fixed interest and cash. Invest solely in cash (100%). How is the option invested? Asset mix at 30 June 2015 Asset mix at 30 June 2014 Asset mix at 30 June 2015 Asset mix at 30 June % 33.7% 9.1% 8.2% 25.8% 10.8% 2.1% 10.9% 32.0% 9.9% 8.6% 26.1% 10.5% 2.0% 100% 100% What is the benchmark asset allocation? Atralian shares 15% International shares 5% Property 10% Growth alternatives 0% Diversified fixed interest 30% Defensive alternatives 6% Cash 34% Cash 100% 9

10 Pension options Pension Aggressive Pension Growth (This is the default option for Pension members who do not make an choice.) What are the objectives for this option? The long-term objective of this option is to achieve returns after fees that exceed CPI increases by at least 6.0% p.a. over rolling five-year periods. On a rolling three and five year basis, a rate of return above a composite based on the benchmark allocation of the underlying SuperRatings High Growth Survey medians adjted for fees will be sought. The long-term objective of this option is to achieve returns after fees that exceed CPI increases by at least 4.5% p.a. over rolling five-year periods. On a rolling three and five year basis, a rate of return above the median of the SuperRatings Balanced Option Survey of diversified superannuation funds will be sought. On a rolling three-year basis, out will be sought relative to the notional return on a benchmark portfolio designed to reflect the risk profile according to which the assets are invested. On a rolling three-year basis, out will be sought relative to the notional return on a benchmark portfolio designed to reflect the risk profile according to which the assets are invested. In pursuing the above return objective the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 4 to 6 years out of every 20 years, which corresponds to a Volatility Level of 6: High based on the Standard Risk Measure. In pursuing the above return objective the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 3 to 4 years out of every 20 years, which corresponds to a Volatility Level of 5: Medium to High based on the Standard Risk Measure. What strategy does this option e? How is the option invested? Invest over 90% in shares and property, and the balance in cash. Invest in a diversified portfolio with approximately 70% in shares and property, and 30% in fixed interest and cash. 3.0% 5.2% 1.7% 4.9% 12.1% 10.1% Asset mix at 30 June 2015 Asset mix at 30 June 2014 Asset mix at June 2015 Asset mix at 30 June % 9.7% 6.8% 9.9% 26.4% 42.0% 41.5% 10.0% 29.2% 40.6% 42.2% 10.1% 2.0% 27.5% 3.9% 31.7% 10.2% 10.1% What is the benchmark asset allocation? Atralian shares 53% International shares 34% Property 10% Growth alternatives 3% Diversified fixed interest 0% Defensive alternatives 0% Cash 0% Atralian shares 36% International shares 24% Property 10% Growth alternatives 3% Diversified fixed interest 15% Defensive alternatives 7% Cash 5% 10

11 What are the objectives for this option? What strategy does this option e? How is the option invested? Pension Moderate The long-term objective of this option is to achieve returns after fees that exceed CPI increases by at least 3.0% p.a. over rolling five-year periods. On a rolling three and five year basis, a rate of return above the median of the SuperRatings Stable Options Survey of diversified superannuation funds will be sought. On a rolling three-year basis, out will be sought relative to the notional return on a benchmark portfolio designed to reflect the risk profile according to which the assets are invested. In pursuing the above return objective the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 1 or 2 years out of every 20 years, which corresponds to a Volatility Level of 3: Low to Medium based on the Standard Risk Measure. Invest in a conservative mix of asset classes with approximately 30% in shares and property, and 70% in fixed interest and cash. Pension Cash On a rolling one-year basis, in line with the return on UBSA Bank Bill Index will be sought. To achieve positive returns after fees each month. In pursuing the above return objectives the Trtee seeks to limit the probability of a negative gross of tax return over rolling twelve month periods to 0% in any particular year, which corresponds to a Volatility Level of 1: Very Low based on the Standard Risk Measure. Invest 100% in cash. Asset mix at 30 June 2015 Asset mix at 30 June 2014 Asset mix at 30 June 2015 Asset mix at 30 June % 7.8% 8.9% 34.2% 10.4% 26.1% 3.7% 6.9% 9.7% 33.8% 9.9% 11.3% 26.4% 2.0% % 100% What is the benchmark asset allocation? Atralian shares 12% International shares 8% Property 10% Growth alternatives 3% Diversified fixed interest 40% Defensive alternatives 7% Cash 20% Cash 100% 11

12 How the Plan is managed The Trtee of the Plan is Toyota Atralia Superannuation Plan Pty Ltd, ABN MySuper Authorisation number The sole purpose of this company is to be Trtee of the Plan. The Trtee es a number of advisers who provide services to the Plan see Our advisers on the right for more information. The Trtee s responsibilities are carried out by a Board of six directors. Half of the directors are appointed by Toyota and half are elected periodically by Plan members. The term of office for member representative directors is generally four and a half years. All members who are current employees of the Plan can stand, nominate others and vote in Plan elections for member representative directors. At 30 June 2015, your Trtee directors were: Member representatives Jenny Saunders Paula Miller David Masters Appointed by Toyota Adam Hopkins Rob Purcell Michael Tentomas During the year, Greg Johns retired from the Trtee Board and was replaced by Adam Hopkins on 30 March The Trtee has agreed to further extend the terms of office for member representative Trtee directors, Jenny Saunders and Paula Miller until further notice, to provide continuing access to their experience and knowledge about the Plan. The Plan Secretary is Paul Lunny. Indemnity insurance The Trtee is currently covered by a Trtee Professional Indemnity insurance policy that protects the Plan s assets from a legal liability to the extent allowed by law and the policy conditions. Our advisers The following organisations provide specialist services to the Trtee. Consultant and actuary Administrator Investment consultant Legal adviser External auditor Internal auditor Insurer Reserves Towers Watson Atralia Pty Ltd Mercer Outsourcing (Atralia) Pty Ltd JANA Investment Advisers Pty Ltd Lander & Rogers Deloitte Touche Tohmatsu The Heron Partnership Pty Limited MLC Limited Administration expense reserve The Trtee holds an administration expense reserve in respect of the Plan s Accumulation Section. In recent years, this reserve has been ed to reduce the fees passed on to members in this section. As at 30 June $ , , ,800 Operational risk reserve From 1 July 2013, super funds have been required to set aside financial resources to address funds' operational risks. The Trtee has established an ORFR reserve in the Plan for this purpose. A reserve will be built up to 0.25% of members vested benefits over the three years from 1 July For accumulation-based benefits, the reserve will be funded through a reduction in the unit price at each 30 June for three years until For Pension members, the ORFR reserve will be funded by making a deduction from Pension accounts at each 30 June for three years until The deduction will be 0.08% at 30 June 2014 and 2015, and 0.09% at 30 June For defined benefits, the ORFR reserve will be funded from existing reserves within the Plan. Transfers from these reserves started from 1 July The Trtee has decided that the ORFR reserve will be invested in Growth/MySuper Growth. As at 30 June ORFR reserve $ amount of members vested benefits , , Nil Forgone benefits reserve In the past, when some members left the Plan they were only eligible for a percentage of their benefit under the Plan rules even though the Company had made the full contribution. The percentage that these members were not eligible for was transferred to the forgone benefits reserve. This reserve will now be ed to fund the ORFR reserve for Defined Benefit members over the next three years. The first transfer was effective 1 July As at 30 June $ , , ,000 12

13 What happens if you leave Toyota When you leave your employer, the Toyota Admin Team will ask you how you want to receive benefit. If your benefit is more than $1,000 and you do not respond within 90 days, will be transferred automatically into an account in your name in the Plan s Retained Benefit Section. If benefit is transferred to this section you can make lump sum personal contributions, roll over super from other funds and withdraw any of your benefit which is not preserved. Your super can also remain invested in your chosen option. If your benefit is less than $1,000, the Trtee may roll your benefit over to an Eligible Rollover Fund (ERF) if: You fail to give the Toyota Admin Team instructions within 90 days of receiving details of your benefit, or The super fund you nominate won t accept your benefit. The ERF is: SuperTrace Eligible Rollover Fund Locked Bag 5429 PARRAMATTA NSW 2124 Phone: : The Administrator Website: Once your benefit is transferred to the ERF, you stop being a member of the Plan and no longer have any rights under the Plan. You will then need to contact the ERF directly about your benefit. You can also obtain the ERF s Product Disclosure Statement ing the contact details above. The and crediting rate policy of the ERF will be different to those that applied in the Plan. Also, the ERF will not offer any insurance cover. You should seek advice from a licensed financial adviser about whether the ERF is a suitable for you. Continuing your insurance If eligible, you receive death, terminal illness and disablement insurance as a member of the Plan. If you leave Toyota, this cover will only continue for 60 days (subject to the conditions of the insurance policy). You may be able to continue the insurance you had with the Plan (death, terminal illness, total and permanent disablement or total and temporary disablement) without providing evidence of good health by buying a personal policy from the insurer at your own expense. You can generally be covered for the same amount of insurance you had while you were a Plan member, although the cost may be different. The option to continue your insurance cover is only available for the first 60 days after you leave Toyota (other conditions also apply). If you are a current employee and leave Toyota, but retain in the Plan s Retained Benefit Section, you can continue to have the same amount of death cover you had at the date you left employment. This cover will be provided automatically on moving to the Retained Benefit Section without needing evidence of good health. The fees for the cover will be deducted from your account. For more information, contact the Super Hotline on Taxes and fees A number of taxes may apply to. The booklet, More information on tax, provides details of the different taxes that may apply. The Plan s and administration fees are carefully managed. Refer to the booklet, More information about fees and costs, for details on the latest fees including insurance fees. Both these booklets are part of the Product Disclosure Statement and are available from 13

14 Establishing proof of identity Before you withdraw a benefit from the Plan, you may need to establish your identity by providing certified copies of certain documents. The Trtee may also need to obtain additional identification information and to verify your identity from time to time. In some cases, the Trtee may have to disclose information about you to the Atralian Transaction Reports and Analysis Centre (AUSTRAC), the regulator of this legislation. Due to the sensitive nature of the information, the Trtee is not permitted to inform you if this happens. Complaints and dispute resolution We try to ensure that the Plan s level of service meets your expectations. Sometimes, however, problems may arise. When you first have an enquiry or complaint, you should contact the Toyota Admin Team (see the back cover for contact details). Privacy-related enquiries should also be directed to the Toyota Admin Team. The Trtee has a formal process for reviewing enquiries and complaints if you are not satisfied with the response you receive. To make a formal enquiry or complaint, write to the Complaints Officer via the Plan Secretary (see the back cover for contact details). The Trtee will respond to you within 90 days. In certain circumstances, you may be able to request the Trtee s reasons for its decision on your complaint. If you are not happy with the Trtee s handling of your enquiry or complaint, you may then contact the Superannuation Complaints Tribunal. The Tribunal is an independent body set up by the Federal Government to deal with certain enquiries or complaints that the Trtee has not dealt with to your satisfaction. You can contact the Tribunal on or by to info@sct.gov.au. There are some complaints that the Tribunal cannot consider, such as those relating to the management of the Plan as a whole. Time limits also apply to certain complaints relating to total and permanent disability claims and to complaints about objections to the payment of death benefits. If your complaint is in relation to one of these areas, please contact the Toyota Admin Team or refer to the Tribunal s website on as soon as possible for further information. Complaints about your privacy that have not been resolved to your satisfaction can be directed to the Office of the Atralian Information Commissioner (OAIC). You can contact the OAIC on or by to enquiries@oaic.gov.au. Looking for more information? A range of other information is available to keep you informed. This includes information about your benefits such as your choices for contributions, s and insurance. Refer to your Product Disclosure Statement for your category of membership or visit A number of documents are also available on the website including the Trt Deed and vario Trtee policies. 14

15 Here is a of the Plan s audited financial accounts for the year to 30 June The audited financial accounts and auditor s report can be obtained by calling the Super Hotline on Change in net assets during the year $ Net assets at the start of the year 324,369,334 Pl income Contributions 20,909,256 Rollovers 7,748,801 Net income 29,552,601 Other 589,782 Less outgoings Benefit payments (16,354,850) Insurance premiums (794,798) Tax due (2,748,627) Expenses and charges (845,505) Net assets at the end of the year 362,425,994 Statement of net assets $ $ Investments Units in life policies: MLC Aggressive Option Pension Fund 1,842,312 1,870,097 MLC Cash Option Pension Fund 3,469,765 2,877,254 MLC Conservative Option Pension Fund 3,111,087 3,700,405 MLC Moderate Option Pension Fund 11,147,968 14,315,635 MLC Aggressive Option Fund 35,490,705 42,320,729 MLC Conservative Option Fund 8,857,170 7,655,975 MLC Growth Option Fund 167,443, ,317,789 MLC Moderate Option Fund 13,414,553 13,816,574 MLC Defined Benefit Option Fund 79,630,786 86,554,668 Current assets 4,410,816 3,535,957 Current liabilities Benefits payable (3,484,487) (649,810) Taxation payable (775,227) (681,173) Other (189,815) (208,106) Net assets at the end of the year 324,369, ,425,994 Current assets include amounts in the Plan s bank account. All contributions due at 30 June 2015 have now been paid to the Plan. 15

16 To direct your enquiry to the Trtee: Write The Plan Secretary Toyota Atralia Superannuation Plan 494 Grieve Parade ALTONA NORTH VIC 3025 Call Website While the Trtee and the Plan Secretary can give you information about your benefit, none of them, including your employer, can provide you with any advice. If you require any advice about superannuation, you should consult an appropriately licensed financial adviser. Super Hotline staff are not representatives of the Trtee. Any financial product advice given by Super Hotline personnel is provided under the licence of Mercer (Atralia) Pty Ltd (ABN ) a corporate representative of Mercer Outsourcing (Atralia) Pty Ltd (ABN , AFSL ). To find out more about the Plan and your benefits, you can also contact the Toyota Admin Team: Call Super Hotline on Write Toyota Admin Team Mercer GPO Box 4303 MELBOURNE VIC 3001 help@toyotasuper.com.au