Newcastle Permanent Superannuation Plan

Transcription

1 Newcastle Permanent Superannuation Plan Superannuation Division. Product Disclosure Statement dated 1 April Contents 1. About the Newcastle Permanent Superannuation Plan Page 1 2. How super works Page 1 3. Benefits of investing with the Newcastle Permanent Superannuation Plan Page 2 4. Risks of super Page 2 5. How we invest your money Page 3 6. Fees and costs Page 4 7. How super is taxed Page 5 8. Insurance in your super Page 5 9. How to open an account Page 6 This Product Disclosure Statement ( PDS or Statement ), is a summary of the main features of the Superannuation Division of the Newcastle Permanent Superannuation Plan. It contains a number of references to important information which are contained in the Member Information Booklet and form part of this PDS. You should consider the information in this PDS and that in the Member Information Booklet before making a decision about the Newcastle Permanent Superannuation Plan. The information provided in this PDS is general information only and does not take into account your individual objectives, financial situation or needs. Because of this, before acting on the information you should consider its appropriateness, having regard to your objectives, financial situation and needs. You should obtain financial advice tailored to your personal circumstances. You can get a copy of this PDS and the important information at newcastlepermanent.superfacts.com or by calling the Plan s Superannuation Helpline on from 8am to 7pm AEST Monday to Friday. The information contained in this PDS and the important information in the Member Information Booklet may change from time to time. If there is a material change we will tell you as required by law. For all other changes, you can get up to date information at newcastlepermanent.superfacts.com or by calling the Plan s Superannuation Helpline for a copy of that information free of charge. If you have any questions about your super, contact us at: Mercer Superannuation (Australia) Limited ABN GPO Box 4303 Melbourne VIC 3001 Plan s Superannuation Helpline Or visit newcastlepermanent.superfacts.com 1 About the Newcastle Permanent Superannuation Plan The Newcastle Permanent Superannuation Plan ( the Plan ) is a registered superannuation fund. It is made up of two divisions including: the Superannuation Division, and the Pension Division. Investment in the Plan is offered solely through the Newcastle Permanent Building Society Limited ABN (NPBS) Australian Financial Services Licence # The Plan offers superannuation (super) and insurance benefits for its investors through the Superannuation Division. The Plan operates under Government legislation and the Trust Deed which sets out the governing rules for the Plan. Mercer Superannuation (Australia) Limited (MSAL) is the Trustee of the Newcastle Permanent Superannuation Plan and issues this PDS and the important information that is part of this PDS. In this PDS, MSAL is called Trustee, we or us. 2 - How super works Super is a means of saving for retirement which is, in part, compulsory and is supported by tax savings that are provided by the Government. For most employees, employers are required to pay an additional tax if they fail to contribute at least 9% (from 1 July 2013, this will be 9.25%) of the employee s ordinary time earnings to a superannuation fund. These contributions are called Superannuation Guarantee (SG) contributions. Under choice of fund legislation, most employees can choose a fund for their employer s SG contributions (this is called exercising choice ). But if the employee doesn t make this choice, their SG contributions are paid to the employer s default fund. Different types of contributions can be made to the Plan including: employer contributions (including superannuation guarantee contributions), contributions from your before-tax pay (salary sacrifice) or your after-tax pay, spouse contributions, and Government co-contributions. To join the Plan, you must make an initial investment of at least $1,200 or start a regular contribution plan with a minimum monthly contribution of at least $100. You can also make additional contributions at any time at a branch, via EFT or via BPAY. There are rules about, and limitations on, contributions to superannuation and when you can be paid your benefit. You can find more information at This Product Disclosure Statement (PDS) is only applicable to members of the Superannuation Division of the Newcastle Permanent Superannuation Plan ABN (the Plan). This PDS is issued by the Trustee of the Plan, Mercer Superannuation (Australia) Limited (MSAL) ABN , Australian Financial Services Licence # The Plan s administrator is Mercer Outsourcing (Australia) Pty Ltd ABN , Australian Financial Services Licence # The Plan is distributed by the Newcastle Permanent Building Society Limited ABN (NPBS) Australian Financial Services Licence # The Here for Good and Newcastle Permanent logos are trademarks of NPBS.

2 You should read the important information about contributions and the payment of benefits in the How super works section of the Member Information Booklet before making a decision. Go to newcastlepermanent.superfacts.com for more information. The material relating to contributions and the payment of benefits in the Plan may change between the time when you read this Statement and the day when you acquire this product. 3 Benefits of investing with the Newcastle Permanent Superannuation Plan As a member of the Newcastle Permanent Superannuation Plan you can enjoy benefits like: competitive fees on-line access to your super details quarterly member statements access to a term deposit investment option managed by NPBS an on-line article library which includes regular investment updates access to interactive planning tools at newcastlepermanent.superfacts.com a helpline to answer many of your questions about your super. As well, there are five investment options for you to choose from. You should read the important information about the significant features and benefits of the Plan in the Benefits of investing with the Newcastle Permanent Superannuation Plan section of the Member Information Booklet before making a decision. Go to: newcastlepermanent.superfacts.com for more information. The material relating to the significant benefits and features of the Plan may change between the time you read this Statement and the day when you acquire this product. Receiving your benefits The amount of your benefit is your super account balance. And if you have insurance cover, your insured amount will also be paid if you become totally and permanently disabled or on your death. You can request that your benefit be transferred to another approved superannuation arrangement at anytime or access your super as a cash payment in part or whole, if you meet certain requirements and subject to superannuation legislation. You may also choose to transfer your benefit to the Pension Division of the Plan in part or whole, if you meet certain requirements and subject to superannuation legislation. You should read the important information about receiving your benefits in the Benefits of investing with the Newcastle Permanent Superannuation Plan section of the Member Information Booklet before making a decision. Go to: newcastlepermanent.superfacts.com for more information. The material relating to receiving your benefits may change between the time you read this Statement and the day when you acquire this product. 4 Risks of super There are a number of general risks to be aware of including the risk that: superannuation laws may change in the future which may affect when you can be paid your super or the tax effectiveness of your super the amount of your future superannuation savings (including contributions and returns) may not be enough to provide adequately for your retirement needs the Trustee may amend the Plan s Trust Deed or the Plan could be wound up at some point in the future fees, charges and premiums may increase from time to time which may affect your account balance your insurance cover may stop if you do not have enough money in your account to meet the monthly premium. All investments, including super, carry some level of risk. Different investment options may carry different levels of risk depending on the assets that make up that investment option. Assets with the highest long term return may also carry the highest level of short term risk. You should be aware that: the value of investments in the investment options will vary (i.e. rise and fall) the level of returns for each investment option will vary and future returns may be different to past returns investment returns are not guaranteed and you may lose some of the money you have invested, and the level of risk that is acceptable to you may vary depending on a range of factors such as your age, your investment time frame, where other parts of your wealth are invested and your risk tolerance. The investment options in the Plan have specific investment risks. These may include: inflation risk that your money fails to maintain its purchasing power due to inflation investment manager risk that a particular investment manager will underperform or will fail and some or all of the capital value of assets is lost currency risk that overseas investments gain or lose value as a result of a falling or rising Australian dollar market risk of major movements across a particular asset class timing risk, timing issues may result in you making or liquidating an investment at an unfavourable price. 2

3 You should read the important information about investment risks in the Investment risks subsection of the How we invest your money section of the Member Information Booklet before making a decision. Go to: newcastlepermanent.superfacts.com for more information. The material relating to understanding investment risk may change between the time you read this Statement and the day when you acquire this product. 5 How we invest your money Your can choose from any one or a combination of the following investment options: Perm Cash Perm Conservative Perm Balanced Perm Growth, and Perm Term Deposit. By selecting one or more of the five investment options, you are investing your super in a set mix of shares, property, fixed interest, term deposits, cash and other types of assets. The mix of assets in the option that you choose will determine the level of risk and earnings that you could expect in your super. The How we invest your money section of the Member Information Booklet tells you all about these investment options. Warning: When choosing an investment option, you must consider the likely return of the investment option, the risks of the investment option and your investment timeframe. If you don t make a choice, your super will be automatically invested in Perm Cash, the default investment option for the Plan. About Perm Cash Description This option invests solely in interest bearing deposits with NPBS. This is not a diversified investment option and therefore the security of money placed in this option is directly linked to the security and financial stability of NPBS. It is designed for members who can tolerate a very low level of risk with no negative annual return expected over any 20 year period. Objective To achieve an annual return (after tax and investment management fees) of at least the Reserve Bank of Australia (RBA) cash rate less an adjustment for tax Investment strategy Asset Class Range % Benchmark % Growth assets 0 0 Defensive assets Cash The range indicates the minimum and maximum amounts allowed for each asset class. The benchmark is the expected long-term asset allocation for the option. Minimum suggested timeframe 1 year or less Standard risk measure* Very Low for the Perm Cash investment option, means that the annual return will not be negative over any 20 year period * The Standard Risk Measure is based on industry guidance to allow members to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period. It consists of seven risk labels which are set out in the How we invest your money section of the Member Information Booklet. You should read the important information about investments in the How we invest your money section of the Member Information Booklet before making a decision. This tells you about: the Plan s the investment options; how to change your investment options (called switching investment options); how we can change the investment options; the growth defensive enhanced investment process; the extent to which labour standards or environmental, social or ethical considerations are taken into account (in the Socially Responsible Investing section). Go to: newcastlepermanent.superfacts.com for more information. The material relating to how we invest your money may change between the time you read this Statement and the day when you acquire this product. 3

4 6 Fees and costs DID YOU KNOW? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final 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 better member services justify higher fees and costs. You may be able to negotiate to pay lower contribution fees and management costs where applicable. Ask the fund or your financial adviser. TO FIND OUT MORE If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website ( has a superannuation fee calculator to help you check out different fee options. The table below shows the fees and costs that you may be charged in the Plan for the Perm Cash investment option, the default investment option for the Plan. These fees and costs may be deducted from your super account balance, from the returns on your investment or from the Plan as a whole. The information in the table can be used to compare costs between different superannuation products. Fees when your money moves in or out of the Plan Establishment fee* Contribution fee* Withdrawal fee Termination fee Up to 0.5% of any initial amount invested in the Perm Cash investment option. Up to 0.5% of any contributions or rollovers (other than your initial investment) invested in Perm Cash investment option. Nil. Nil. Management Costs The fees and costs for managing your investment An administration fee of 0.45% pa, together with an investment management fee of 0.00% pa and a performance fee of 0.00% pa of your account balance invested in the Perm Cash investment option. Service Fees Switch fee # The first four switches in or out of the Perm Cash investment option during a financial year are free, any additional switches will incur a fee of 1% of the amount switched A Family Law fee and a No-TFN tax refund fee may also apply. * The actual fee payable will be negotiated between you, your adviser and NPBS. # A switch fee of $165 is charged if you switch into or prior to maturity out of the Perm Term Deposit investment option. Example of annual fees and costs for the Perm Cash investment option This table gives an example of how the fees and costs in the Perm Cash investment option in the Plan can affect your superannuation investment over a 1 year period. You should use this table to compare this product with other superannuation products. Example the Perm Cash Investment Option Balance of $50,000 with total contributions of $5,000 during year Contribution Fees* 0.5% For every $5,000 you put in, you will be charged $25. PLUS Management Costs 0.45% pa And, for every $50,000 you have in the fund you will be charged $225 each year. EQUALS Cost of fund If you put in $5,000 during a year and your balance is $50,000, then for that year you will be charged fees of $250. What it costs you will depend on the investment option you choose and the fees you negotiate with your fund or financial adviser. * Assumes the full 0.5% contribution fee applies. You may wish to use the calculator provided by ASIC on its moneysmart website ( to calculate the effect of the fees and costs on your super account balance. 4

5 Fee changes The Trustee also has the right to change fees at any time, without your consent. We will give you at least 30 days written notice of any such increase in fees. You should read the important information about fees and costs including information about the fees and costs of each investment option in the Plan in the Fees and Costs section of the Member Information Booklet before making a decision. Go to newcastlepermanent.superfacts.com for more information. The material relating to the fees and costs may change between the time when you read this Statement and the day when you acquire this product. 7 How super is taxed Superannuation is generally taxed at three stages: Contributions paid into a super fund Tax on contributions is deducted from your super account. Employer contributions (including SG employer contributions) and salary sacrifice contributions are generally taxed at 15%*. The tax is paid on your net contributions after deducting relevant fees and the relevant part of insurance premiums. After-tax contributions are generally tax free. There are limits on the amount of contributions that are concessionally taxed or tax free. The Trustee pays the 15% contribution tax to the Australian Tax Office. * The Government announced in the May 2012 Federal Budget that from 1 July 2012 an additional tax will apply to contributions for higher income earners. Super payouts from a super fund Super payouts from the Plan may be taxed if your age is less than 60. Once you turn 60, generally no tax applies to super payouts (although tax may be payable on some death payouts). Any tax payable is deducted from your super payout before it is paid to you. Different rules may apply if you are not an Australian or New Zealand citizen or permanent resident. The Trustee pays any tax it deducts from your super payouts to the Australian Tax Office. Investment income of a super fund Investment earnings are generally taxed at 15% and this tax is deducted from investment earnings before the unit price or crediting rate is determined. The Trustee pays the tax on investment income to the Australian Tax Office. Warning: Limits apply to the amount of contributions that are concessionally taxed or tax free in any financial year. These limits are called contribution caps. It is important to be aware that additional tax may be payable if these contributions caps are exceeded in a financial year. Warning: It is important that you provide the Trustee with your Tax File Number (TFN) when you join the Plan. If the Trustee does not have your TFN: the Trustee will only be able to accept employer contributions (including salary sacrifice contributions) made for you. No other contributions can be accepted including non-concessional and Government co-contributions; you will pay higher tax on employer contributions (including salary sacrifice) made for you; and you may pay more tax than you need to on your super payout. You should read the important information about tax and super in the How super is taxed section of the Member Information Booklet before making a decision. Go to newcastlepermanent.superfacts.com for more information. The material relating to tax and super may change between the time when you read this Statement and the day when you acquire this product. 8 Insurance in your super If eligible, the insurance cover generally available under the Plan is: death and total and permanent disablement (TPD) cover. On joining the Plan, all members who are Australian residents will be provided with 1 unit of death cover. This is also known as the default cover. Australian resident means a person who permanently resides in Australia holding an Australian citizenship or an Australian permanent visa within the meaning under section 30 of the Migration Act 1958 (Cth). You can cancel your insurance cover at anytime by putting your request in writing and sending it to the Trustee. You will be advised in writing when this request is accepted by the Trustee. The amount of insurance cover each unit of cover provides depends on your age next birthday and is included in the table below: Insured Amount for 1 unit of cover Age next birthday Insured Amount $ , , , , , , , * 10,800 * From Age next birthday 66 to 70, any TPD cover you have will cease. 5

6 The cost of insurance cover depends on your occupational rating and the number of units you select. The cost per unit of cover per week is included in the table below and is deducted monthly from your super account: Occupational Rating Death cover only Death and TPD cover White Collar $0.75 $1.21 Light Blue Collar $1.03 $2.72 Blue Collar $1.30 $4.40 If you don t complete the Occupational Rating questionnaire included in Step 4 of the Application form for membership of the Superannuation Division form, you ll generally be provided with 1 unit of death cover with a Blue Collar occupational rating, being the default insurance cover for the Plan (and the applicable premium will be deducted from your super account). You can also apply for additional cover for death only or death and (if applicable) TPD at anytime by completing and returning an Application for Insurance cover - Personal Statement form. You can get a copy of this form by visiting the Plan s website at: newcastlepermanent.superfacts.com where it can be downloaded or by calling the Plan s Superannuation Helpline on Warning: The insurance premiums for the default death cover will be deducted from your super account until your request to cancel your insurance cover is received and accepted by the Trustee. Please note the insurer may require satisfactory evidence of good health, financial details and other evidence before providing insurance cover for you. When providing any information for your application for insurance cover, you have a duty of disclosure. See the Duty of disclosure in the Insurance in your super section of the Member Information Booklet for more information. Warning: The important information about: your eligibility for insurance cover in the Plan; and the terms, conditions and exclusions applicable to the insurance cover in the Plan, may affect your entitlement to insurance cover and should be read before deciding whether the insurance cover available in the Plan is appropriate for you. You should read the important information about insurance in the Insurance in your super section of the Member Information Booklet including: are you eligible to apply for insurance cover and what type? the amount and cost of your insurance cover key insurance terms, conditions and exclusions before making a decision. Go to: newcastlepermanent.superfacts.com for more information. The material relating to your insurance cover may change between the time when you read this Statement and the day when you acquire this product. 9 How to open an account Opening an account in the Plan is simple. Make sure you read all the information in this PDS and the important information referred to in the PDS. Following the steps below, complete the Application for membership of the Superannuation Division form (which accompanies this PDS) and return it with any required documentation or forms to: The Plan Administrator Newcastle Permanent Superannuation Plan GPO Box 4303 Melbourne VIC 3001 Step 1 Provide your personal details Complete Step 1 of the Application for membership of the Superannuation Division form. Step 2 - Making contributions To join the Plan you must make an up-front initial investment as a lump sum contribution or transfer in an amount from another superannuation fund (this amount must generally be at least $1,200) or you (or your employer) must start a regular contribution plan. Decide how your initial contribution will be made, then fill out Step 2 of the Application for membership of the Superannuation Division form. Step 3 - Choose your investment options As a Plan member, you can choose from one or a combination of the five different investment options available through the Plan. Decide which investment option(s) you want to invest in, then fill out Step 3 of the Application for membership of the Superannuation Division form. Step 4 Insurance cover You ll generally be provided with one unit of death cover on joining the Plan. Fill out Step 4 of the Application for membership of the Superannuation Division form. Step 5 - Nominate your beneficiaries If you die while a member of the Plan, to whom would you like your super to go? Decide if you want to make a nomination of beneficiaries, then fill out Step 5 of the Application for membership of the Superannuation Division form. Step 6 Provide your tax file number Fill out Step 6 of the Application for membership of the Superannuation Division form. Step 7 - Once you ve made your decisions, you can complete and sign your Application for membership of the Superannuation Division form. You will become a member of the Plan when your membership is accepted by the Trustee, your initial investment or your first regular contribution is received and processed by the Plan and your membership has been confirmed in writing. The Trustee has the right to reject an application for membership. 6

7 If you don t fill out the Application for membership of the Superannuation Division form It s important that if you have decided to join the Plan, you read this PDS and the Member Information Booklet. Take the time to follow the steps above, complete and sign the Application for membership of the Superannuation Division form and return it with your initial investment and any other required forms or documentation to the Plan Administrator: If you do not return: your completed Application for membership of the Superannuation Division form, your initial investment or your completed Starting a regular contributions plan form (as applicable see Step 2 of the Application for membership of the Superannuation Division form) and any other required forms or documentations, then the Trustee will not be able to accept your application for membership in the Superannuation Division of the Plan. If you don t complete, or incorrectly complete, Step 3 of the Application for membership of the Superannuation Division form, the Trustee won t know which investment option you d like your account invested in. This means your account balance will be invested in the default option which is the Perm Cash investment option. You can change this at anytime, by completing and returning a Changing your investment options in the Newcastle Permanent Superannuation Plan - Superannuation Division form. This form is available from the Plan s website: newcastlepermanent.superfacts.com or by calling the Plan s Superannuation Helpline on to obtain a copy. The Plan s Superannuation Helpline can also assist if you need more information about changing your investment options after joining the Plan. If you don t complete, or incorrectly complete, Step 4 of the Application for membership of the Superannuation Division form, you ll generally be provided with 1 unit of death cover with a Blue Collar occupational rating. If you don t complete, or incorrectly complete, Step 5 of the Application for membership of the Superannuation Division form, the Trustee won t know to whom you would prefer your super to go to if you die while a member of the Plan. In this case, the Trustee will determine who will receive your death benefit without consideration of your wishes. If you don t complete, or incorrectly complete, Step 6 of the Application for membership of the Superannuation Division form, you may pay more tax than you need to and some contributions cannot be accepted into the Plan. Cooling off You have 14 days after investing in the Plan during which you can cancel your membership. This is called the cooling off period. The 14 day period starts from the earlier of the date you received written confirmation of your membership or 5 days after your application has been accepted. You will lose your right to cool off if you exercise any right in respect of the Plan within the 14 day period (for example, if you make an investment switch). If you wish to cancel your membership you must do so in writing to: The Trustee Newcastle Permanent Superannuation Plan GPO Box 4303 Melbourne VIC 3001 If you cancel your membership during the cooling off period, the amount refunded will be calculated by reference to the price at which the units would have been acquired if you had acquired them on the day the cooling off right is exercised (or the Perm Cash crediting rate, the Perm Term Deposit crediting rate or the Perm Term Deposit break crediting rate (as applicable)), adjusted for any payments and withdrawals, or other distributions (if any) made to you during your period of membership, tax and reasonable transaction or administration costs. Therefore, the amount refunded may be greater or less than the amount initially invested. The refund will be paid in accordance with the following rules: any preserved or restricted non-preserved amounts will be transferred to a regulated superannuation fund, approved deposit fund (ADF) or Retirement Savings Account (RSA) as nominated by you, and any other amounts will be paid as directed by you. If no nomination or direction is received by you within one month of notifying the Trustee that you want to cancel your membership in the Plan, or if the nominated superannuation entity does not accept the nomination, the refundable amount may be transferred to an eligible rollover fund of the Trustee s choice. Where your super is transferred to an eligible rollover fund you ll no longer have any rights under the Plan. The Plan uses the SuperTrace Eligible Rollover Fund (SuperTrace). The trustee of SuperTrace is Colonial Mutual Superannuation Pty Ltd ABN Australian Financial Services Licence # (CMS). For more information about SuperTrace, see the Benefits of investing with the Newcastle Permanent Superannuation Plan section of the Member Information Booklet. 7

8 Enquiries and Complaints The Trustee has a process in place for dealing with any enquiries or complaints you may have. If you have any enquiries or complaints you can: call the Plan s Superannuation Helpline on or write to the Plan s Enquiries and Complaints Officer Newcastle Permanent Superannuation Plan c/o Mercer Superannuation (Australia) Limited GPO Box 4303 Melbourne VIC 3001 While you can expect a reply to your enquiry within 28 days, a period of up to 90 days can be experienced for complaints. If you have a complaint and you re not satisfied with the response, you can request that the Complaints Officer pass on your complaint to the Trustee s Complaints Committee for a formal reconsideration. While you can expect a decision from the Complaints Committee within a further 45 days, again sometimes the maximum period of 90 days is experienced. The Trustee always seeks to resolve any complaints to the satisfaction of all concerned and in the best interests of all the members of the Plan. However, if you have made a complaint and, after at least 90 days, are not satisfied with the outcome, you may take your complaint to the Superannuation Complaints Tribunal. The Tribunal is an external dispute resolution system that covers complaints by members of super funds. Any complaints must be lodged with the Tribunal within certain time limits. For more information about requirements and time limits, you can contact the Superannuation Complaints Tribunal at: Locked Bag 3060 GPO Melbourne VIC 3001 or phone them on or fax them on (03) or them at info@sct.gov.au or visit their website at If the Tribunal accepts your complaint, it will try and help you and the trustee reach a mutual agreement through conciliation. If conciliation is unsuccessful, the complaint is referred to the Tribunal for a determination. 8

9 Logo to be inserted needs to be supplied Application for membership of the Superannuation Division Newcastle Permanent Superannuation Plan ( the Plan ) This application form is for applying for membership in the Superannuation Division of the Plan under the Product Disclosure Statement dated 1 April 2013 (PDS). About this form We need you to fill out this form to let us know: your details how much and how you d like to contribute which investment option(s) you d like your money invested your occupation and residency details for your insurance cover who you d prefer to receive your super if you die while you re a member of the Plan your tax file number If a step isn t relevant to you - just move on to the next one. Once you ve completed the form, don t forget to sign it and return it to: The Plan Administrator Newcastle Permanent Superannuation Plan GPO BOX 4303 Melbourne VIC 3001 If you re unsure of your decisions, we recommend that you see a licensed, or appropriately authorised, financial adviser. Step 1 Complete your personal details Please print in black or blue pen, in uppercase, one character per box. A Title Mr Mrs Ms Miss Other Date of birth / / Given names Surname Home address Suburb State Postcode Telephone Mobile - see note below - see note below Providing your address and mobile phone number The Trustee currently provides information such as member and exit statements, notices of any material changes or occurrences of significant events and various member publications in a written form. In the future, the Trustee may (where permitted by law) provide this type of information by electronic means. By providing your address or mobile phone number you agree to receive this type of information electronically (when applicable in that form) by (which may include a link to a website from where it can be downloaded) or, (where applicable) by mobile phone. Issued by Mercer Superannuation (Australia) Limited (MSAL) ABN , AFSL #235906, as trustee of the Newcastle Permanent Superannuation Plan ABN *NEWCA.J01HI1*

10 Step 2 Making contributions To join the Plan you must make an initial investment or start a regular contribution plan. (1) Initial investment If you choose this method, your initial investment must be at least $1,200* and may be a rollover from another superannuation fund OR a contribution made by you (or on behalf of you). * A lower initial investment amount may be negotiated with NPBS before you join the Plan if you invest in the Perm Cash option only. (Select one option only) I have attached a rollover of $,. and include a rollover benefit statement from my previous superannuation fund. I want to make a one-off contribution of $,.. If you are making a one-off contribution, please indicate the type of contribution you are making (Select one box only) Personal Member Employer Employer Salary Sacrifice If you are eligible and you intend to claim a tax deduction in respect of your personal contributions, please complete and return the ATO form Notice of intent to claim or vary a deduction for personal super contributions. This form is available from the ATO website at: ato.gov.au or by calling the Plan s Superannuation Helpline on to obtain a copy. (2) Regular contribution plan If you choose to start a regular contribution plan, you do not need to make an initial investment. I want to start a regular contribution plan and have included a completed Starting a regular contribution plan form. This form is available from the Plan s website at: newcastlepermanent.superfacts.com or you can call the Plan s Superannuation Helpline on to obtain a copy of this form. You also need to complete this section Employer details if you are making a one-off contribution or starting a regular contribution plan and these contributions are coming from an employer Employer name Address Suburb State Postcode Payroll Officer Phone Number See How super works in the PDS for more information on how to make contributions to the Plan. Step 3 Choose your investment options Take control of how your super is invested You can choose one or more investment options or a mix of the four investment options listed below. Please ensure the total adds to 100% otherwise the default investment option will apply until it s corrected. Perm Cash Perm Conservative Perm Balanced Perm Growth Percentage to be invested % % % % Total % Conditions apply to you investing in the Perm Term Deposit investment option. See How we invest your money in the PDS for more information on how to invest in this investment option. *NEWCA.J01HI2*

11 Step 4 Insurance cover Protect your family s financial wellbeing - think about death and disability cover All members who are Australian residents will generally be provided with 1 unit of death insurance cover on joining the Plan (the default cover). If you don t complete the Residency Status declaration below, you may not be eligible for the default cover. If you don t complete the Occupational Rating questionnaire below, the default occupational rating, which is Blue collar, will apply. See the Insurance in your super section of the PDS for full details of the occupational ratings. If you want to apply for additional cover above the default cover, you need to complete and return the Application for insurance cover - Personal Statement form. This form is available from the Plan s website at: newcastlepermanent.superfacts.com or you can call the Plan s Superannuation Helpline on to obtain a copy of this form. Occupational Rating The insurer requires details of your current occupation to ensure any premiums charged are in accordance with your occupational profile. 1. What is your occupation? If you are not working, please provide details i.e. looking for work or home duties. 2. Are you required to perform any manual work in your occupation? Yes No (a) If Yes, please specify the percentage of your time performing manual work % (b) If No, are your duties 100% office based? Yes No (i) If No please specify the percentage of time spent supervising manual work or doing site visits % 3. Do you hold any tertiary qualification or trade certificates relevant to your occupation? Yes No If Yes please specify: Don t forget to return this form to the Plan Administrator. You should keep a copy for your records. Residency Status To be eligible for any insurance cover you must be an Australian resident. Australian resident means a person who permanently resides in Australia holding an Australian citizenship or an Australian permanent visa within the meaning under section 30 of the Migration Act 1958 (Cth). (Select one box only) I am an Australian resident I am not an Australian resident* * If you are not an Australian resident, please provide details of your residency *NEWCA.J01HI3*

12 Step 5 Nominate your beneficiaries Who ll get your super if you die while you re in the Plan? You can nominate who you prefer your death payout to be paid to if you die while a member of the Plan by completing this section of the application form. This is an indication of your preferences only, as to the distribution of your super payout in the event you do not make a binding death benefit nomination. The Trustee will not be legally bound by your wishes but will take them into account. If you wish to make a nomination for payment of your death payout that will be binding on the Trustee, please call the Plan s Superannuation Helpline on In the meantime, you may still wish to complete this step in order to advise the Trustee of your preferences. Name Relationship to you* Proportion of payout % Name Relationship to you* Proportion of payout % Name Relationship to you* Proportion of payout % Name Relationship to you* Proportion of payout % Name Relationship to you* Proportion of payout % Total % * Must be a Dependant or your legal personal representative (your executor or administrator). Dependant is defined as: your spouse as defined in the relevant legislation which generally includes: your husband or wife another person (whether of the same sex or not) with whom you are in a registered relationship another person who, although not legally married to you, lives with you on a genuine domestic basis in a relationship as a couple your children as defined in the relevant legislation which generally includes: your adopted child, step-child or ex-nuptial children your spouse s child someone who is a child of you within the meaning of the Family Law Act 1975 any other person who the trustee considers is wholly or partially dependent on you at the time of death, and any person you have an interdependency relationship with. Two people have an interdependency relationship if: 1. they have a close personal relationship, 2. they live together, 3. one or each of them provides the other with financial support, and 4. one or each of them provides the other with domestic support and personal care. An interdependency relationship may also exist between two people if they have a close personal relationship but do not meet the other criteria as listed above (2, 3 & 4) because either or both of them suffer from a physical, intellectual or psychiatric disability. *NEWCA.J01HI4*

13 Step 6 Provide your tax file number Don t pay more tax than you have to let us know your tax file number. Your tax file number (TFN) is confidential and you don t have to give it to the Newcastle Permanent Superannuation Plan. It is not an offence to not provide your TFN. However, you may pay more tax than you have to if you don t supply it. My tax file number is: Special note: In line with the Superannuation Industry (Supervision) Act 1993, the Trustee of the Newcastle Permanent Superannuation Plan is authorised to ask for your TFN. The Trustee will only use your TFN for lawful purposes. These purposes may change in the future if there are changes to legislation. The Trustee may pass your TFN to any other super fund or account to which your super is transferred in the future unless you request in writing that this not be done. By providing your TFN: the Trustee will be able to accept all types of contributions made by or for you (some limits may apply); you can avoid paying tax at a higher rate than would otherwise apply on your contributions; you can avoid paying tax at a higher rate than would otherwise apply on your super benefit; and it will be easier for you to find your super in the future and ensure that you receive all of your super benefits when you retire. Choosing not to provide your TFN is not an offence. However, if you don t provide your TFN now or in the future: the Trustee will only be able to accept contributions made for you by your employer. No other contributions, for example, after-tax contributions, can be accepted you may pay more tax on contributions made for you by your employer. In some circumstances you may be able to claim back this additional tax, however time limits, fees and other rules may apply you may pay more tax on your super benefit than you would otherwise (although you can claim this back when you lodge your tax return). Step 7 Sign the form By signing this form I: acknowledge that I have received all information I require in order to exercise the choices I have made. accept that I will be bound by the provisions of the trust deed and rules which govern the operation of the Newcastle Permanent Superannuation Plan. acknowledge that I have read the Duty of Disclosure set out in the Insurance in your super section of the PDS and understand the consequences of non-disclosure. understand that my personal information will be handled by the Plan to provide and manage my super. Without this information it may not be able to provide my super and choices. For this purpose, my personal information may pass between the Trustee of the Plan and its administrator, professional advisers, insurers, government bodies or my employer. It may also be disclosed to any related or other third party as required (either by the Trustee of the Plan or by its service providers), including the trustee of any other super fund that my super is transferred to. I also agree that my personal information can be used for marketing and research purposes and/or for searching the lost member register of the Australian Taxation Office (unless I have requested you not to do so by calling the Plan s Superannuation Helpline on I understand I can access my information by contacting the Privacy Officer of the Plan. acknowledge that if I provided my address and/or mobile phone number in this application form, the Trustee may, at its discretion, use that address or mobile phone number (as amended and notified to the Trustee from time to time): to send me information concerning my super, including any member and exit statements, notices of material changes or occurrence of significant events, member publications; and for marketing and research purposes, including sending me information about other financial products or services offered by the Trustee or any of its related parties (unless I have requested you not to do so by calling the Plan s Superannuation Helpline on ). acknowledge that the Trustee may provide any member communications and/or marketing and research material that are permitted by law to me electronically either by: sending it to me by (which may include a link to a website from where it can be downloaded) where I have provided my address; and/or making it available to me on a website from where it can be downloaded. acknowledge that where the Trustee is unable to accept certain contributions made by me, or on my behalf, then those contributions will be returned by the Trustee to me or the person or organisation (including my employer) who made the contribution on my behalf and any such contribution will not be added to my account balance. acknowledge that I have read and understood the attached PDS and agree to be bound by it. I understand that the important information referred to in the PDS forms part of the PDS and should be read before I make a decision about the Superannuation Division of the Plan. Signature Date / / *NEWCA.J01HI5*

14 Adviser only section Please indicate what (if any) establishment fee and contribution fee is to be deducted in respect of the following: Perm Cash Other Perm Cash Other Option 3 Options 4 Option 3 Options 4 Establishment fee 1. %. % Contribution fee 2. %. % 1 The establishment fee if agreed by the member is applicable to the initial investment in the Plan. 2 The contribution fee if agreed by the member is applicable to all subsequent contributions made to the Plan, including any rollovers made subsequent to the initial investment. 3 Maximum of 0.50% 4 These are the Perm Conservative, Perm Balanced and Perm Growth investment options. See the Fees and costs section of the PDS. Maximum of 1.00% Please note that if you do not indicate a percentage, no establishment fee and contribution fee will be deducted from the amounts invested by the member. By ticking this box, I understand that I am giving authority for my Adviser (named below) to access any information on my account in the Plan. Name Adviser s name Member signature Adviser number Adviser s signature Date / / Date Adviser s stamp / / *NEWCA.J01HI6*