Product Disclosure Statement

Transcription

1 Dow Australa Superannuaton Fund Product Dsclosure Statement Spouse members PDS Verson 8, ISSUED: 30 September 2017 Insde 1 About the Dow Australa Superannuaton Fund 2 How super works 3 Benefts of nvestng wth the Dow Australa Superannuaton Fund 4 Rsks of super 5 How we nvest your money 6 Fees and costs 7 How super s taxed 8 Insurance n your super 9 How to open an account Important nformaton Ths Product Dsclosure Statement (PDS) s a summary of sgnfcant nformaton and contans a number of references to mportant nformaton (each of whch forms part of the PDS). You should consder that nformaton before makng a decson about the product. Informaton n the PDS s general nformaton only and does not take account of your personal fnancal stuaton or needs. You should obtan fnancal advce talored to your personal crcumstances. Informaton contaned n ths document that s not materally adverse s subject to change from tme to tme and may be updated f t changes. Updated nformaton can be found on the Fund s webste at In addton, we wll provde a hard copy free of charge on request, by contactng the Fund Admnstrator on Contact us The Fund Admnstrator Dow Australa Superannuaton Fund PO Box 1442 Parramatta NSW 2124 Phone: Emal: dowsuper.australa@towerswatson.com Webste: Issued by Towers Watson Superannuaton Pty Ltd (ABN , AFSL ) as Trustee of the Dow Australa Superannuaton Fund (ABN ).

2 1 About the Dow Australa Superannuaton Fund The Dow Australa Superannuaton Fund (the Fund) helps you to save for a secure fnancal future. Membershp s open to employees and ther spouses and former employees of the Company. Wth Spouse membershp, you and your partner (Dow employee) can both beneft. Spouse contrbutons can be an easy and convenent way to help you and your partner save for retrement; There are no entry fees and the admnstraton and nvestment fees are the same as for your partner (Dow employee); If you have a low assessable ncome and your partner (Dow employee) makes contrbutons, they may be enttled to clam a tax offset of up to $540 per year on ther tax return; You can transfer super benefts from other funds and consoldate your super nto an account n the Fund; You can apply for lfe nsurance through the Fund; and You can also take out a penson n the Fund after reachng your preservaton age, or on retrement (or at age 65 f you ve never worked). The Fund s managed by a Trustee wth nput from the Polcy Commttee. Half of the members of the Polcy Commttee are fellow members of the Fund. Informaton about the Trustee, ncludng executve remuneraton and any other documents requred to be dsclosed under the superannuaton legslaton, s on the webste at Ths PDS descrbes benefts for Spouse members (ncludng Spouse members who become Retaned Beneft members). Vst the Fund s webste or call the Fund Admnstrator for the PDSs for other members. The Company means the employer for employees of Dow Chemcal (Australa) Pty Ltd, Dow AgroScences Australa Lmted, Dow Cornng Australa Pty Ltd, Rohm and Haas Australa Pty Ltd and afflated companes. Throughout ths PDS, we refer to Dow employee. Ths means an employee of the Company. 2 How super works Superannuaton s a way to save for retrement that s, n part, compulsory. For many people, t s lkely to be an mportant source of ncome n retrement. Varous contrbutons go nto an account n your name whch s nvested and earns nvestment returns. Postve returns are added to your account and negatve returns are deducted from t. Taxes, any fees, and any amounts pad or transferred out are deducted from your account. The Government provdes tax savngs, so the money contrbuted to your super account s usually taxed less than the tax you mght pay on any salary ncome. Ths allows your super to grow. The Fund provdes you wth an Annual Beneft Statement showng the balance n your Spouse account and detals of any transactons n the account durng the year. Contrbutons There are dfferent types of contrbutons that can be made to ths fund for you: Your partner (Dow employee) can make a one-off lump sum after-tax contrbuton for you; or Your partner (Dow employee) can make regular lump sum after-tax contrbutons for you; or Your partner (Dow employee) can splt ther elgble contrbutons wth you (after they have made an ntal contrbuton). All contrbutons by your partner become part of your Spouse account (once made). Most people can choose the super fund to whch ther employer s contrbutons should be pad. However, the Dow Fund cannot accept contrbutons from employers other than the Company or drectly from you. After an account has been opened n your name and your partner (Dow employee) has made an ntal contrbuton to your Spouse account, you can then consoldate or roll over any super you may have n other super funds nto your Spouse account n the Fund. Contrbutons can only be accepted f the Fund has both your and your partner s Tax Fle Numbers (see page 7). The Government places lmts on how much can be contrbuted to super before extra tax apples. See page 7 for more nformaton. There are also preservaton rules whch mean you generally cannot access amounts n your account untl you retre after your preservaton age (between age 55 and 60) or satsfy another condton of release. As a Spouse member, f you have never worked, you wll not be able to access your super untl age 65. You should read the mportant nformaton about how super works before makng a decson. Go to the secton How Super works n the Spouse Super Gude, avalable on the webste at The materal relatng to how super works may change between the tme when you read ths Statement and the day when you acqure the product. 2

3 3 Benefts of nvestng wth the Dow Australa Superannuaton Fund The Fund provdes the followng benefts to Spouse members: Contrbuton optons: Your partner (Dow employee) can make after-tax contrbutons to a Spouse account n your name. To do so, complete an Applcaton for Spouse Membershp and Contrbutons avalable at super/dow. Once a Spouse account has been establshed and the frst contrbuton has been made, your partner (Dow employee) can then splt ther before-tax contrbutons to super wth you. Insurance protecton for you and your famly You can buy voluntary lfe nsurance cover to help protect you and your famly from the unexpected. You can contnue your nsurance cover as a personal lfe polcy when you cease beng a Spouse member wthout the need to provde further evdence of good health (elgblty condtons apply). Investment flexblty You can nvest n one or a combnaton of up to eght nvestment optons, allowng you to make a choce that meets your needs. You can change your nvestment opton effectve the frst day of each month. Other ways to save You can roll over super from other funds nto ths Fund and consoldate your super from multple funds, potentally savng on admnstraton fees. Features for the future If your partner (Dow employee) leaves employment, your super can stay n the Fund and contnue n your chosen nvestment opton. Your balance must be at least $5,000. You would then become a Retaned Beneft member. See the Spouse Super Gude for more nformaton. The Fund has an Account-Based Penson and a Transton to Retrement Penson avalable as you approach retrement. The Transton to Retrement Penson allows access to your super whle you are nearng retrement after you have reached your preservaton age. Refer to the PDS for Penson members for detals. Smple fees Spouse members pay an admnstraton fee and an nvestment fee at the same rates that apply to Employee members. These are deducted each year from your nvestment returns before they are appled to your account. Other fees apply n certan crcumstances. Keepng you nformed The Fund has a webste and provdes regular communcaton and educaton to members. Your and your partner s (Dow employee) super benefts are not transferable. You can t transfer your beneft to your partner. Spouse defned An elgble spouse s another person (whether of the same sex or opposte sex) who: you are n a relatonshp wth that s regstered under law, or although not legally marred to you, lves wth you on a genune domestc bass n a relatonshp as a couple. Under Fund rules, Spouse members must be under age 65. You and your partner (Dow employee) must both be Australan resdents for tax purposes. You should read the mportant nformaton about your benefts before makng a decson. Go to the secton Benefts of nvestng n the Spouse Super Gude, avalable on the webste at The materal relatng to your benefts may change between the tme when you read ths Statement and the day when you acqure the product. Product Dsclosure Statement Spouse members 3

4 4 Rsks of super As wth any nvestment, there s always rsk n nvestng wth a superannuaton fund. 5 How we nvest your money Investment rsk The Fund offers you a choce of eght nvestment optons, each wth dfferent strateges and dfferent levels of rsk and expected return. The level of rsk depends on the opton s assets. Generally, the hgher an nvestment s potental return, the greater the rsk assocated wth that nvestment. Hstorcally, nvestment n shares has provded the hghest average returns over the long term but has also demonstrated the greatest volatlty n the short term. Over the longer term, lower rsk nvestments, such as cash or fxed nterest, generally provde lower returns, but are less volatle than shares. The value of your accounts n the Fund wll vary and may rse or fall dependng on the performance of the nvestment markets n whch your money s nvested. You should remember that past performance s not necessarly a relable ndcator of future performance. Returns from the Fund may be postve or negatve and are not guaranteed. When you leave the Fund, you may get less than the amount of contrbutons pad n by your partner because of taxes, fees and low or negatve nvestment returns. Your level of rsk wll vary dependng on your age, nvestment tme frame, other nvestments and rsk tolerance. Other rsks Beng a member of the Fund does not automatcally mean that you wll have enough money to lve on n your retrement. Your future superannuaton savngs and nvestment earnngs may not be suffcent to adequately provde for your retrement. The Fund s Trust Deed may be amended or the Fund may close n the future. Ths may mean you would need to transfer your super to another fund. There s also the rsk that the Fund wll lose ts complyng status and therefore lose ts tax concessons. The Trustee manages ths rsk by ensurng that the Fund operates accordng to the requrements of the Trust Deed and law. The Fund may also be exposed to other rsks such as changes n the economc and poltcal clmate, fraud or other crmnal actvtes (ncludng dentty theft). Not all of these rsks can be controlled by the Trustee. A change n the laws that govern superannuaton may mpact on your ablty to access your money n the future or affect the tax effectveness of your super savngs. We wll keep you nformed about any materal changes that may affect your super. You should read the mportant nformaton about rsks before makng a decson. Go to the Investment Gude for more detals on nvestment rsks or go to the secton Insurance for Spouse members n the Spouse Super Gude for detals on nsurance rsks. Both documents are avalable on the webste at The materal relatng to rsks may change between the tme when you read ths Statement and the day when you acqure the product. You can choose to nvest your super n one of three packaged optons Assertve, Growth or Conservatve or fve asset class optons Internatonal Shares, Australan Shares, Property, Fxed Interest or Cash. You can also combne any of these optons. You must make a choce on jonng the Fund or your applcaton for membershp cannot be processed. Each opton has potentally a dfferent nvestment outcome and carres a dfferent level of rsk. They also vary n the assets they nvest n and n the mnmum suggested nvestment tmeframe. Your account receves the Declared Earnng Rate(s), whether postve or negatve, of your chosen nvestment opton(s). You can change how your super s nvested at any tme by makng a swtch. Swtches can be made by completng an Applcaton for Spouse Membershp and Contrbutons avalable on the Fund s webste. The frst swtch each calendar year s free, after that a fee apples. Warnng! Decdng how you nvest your super s an mportant decson. You should consder: The lkely nvestment return what level of return are you seekng from your super? The rsk how much varaton n the value of your super or the returns you receve are you wllng to accept? Your nvestment tmeframe how long before you expect to need your super? A fnancal advser can assst you to make a choce that s most approprate for your needs. 4

5 About the Growth opton Overvew* Investment objectves Investment strategy Estmated number of negatve annual returns over the next 20 year perod** Volatlty level** # Mnmum suggested nvestment perod* Target asset allocaton # Ths s a dversfed opton that nvests across the major asset classes, but wth sgnfcant weghtng towards growth assets. Ths opton may sut members who: Am to acheve a reasonably hgh return over the medum to long term by nvestng n a broadly dversfed range of nvestments. Wll not be concerned wth potentally moderate fluctuatons n returns over shorter tme perods. May not need mmedate access to ther beneft. To acheve a return (after tax and nvestment fees) that s at least 3% per year more than movements n CPI over movng ten-year perods. To lmt the probablty of achevng a gross of tax negatve return over movng 1 year perods to approxmately 5 years n 20. To nvest about 75% n shares wth some exposure to currency and dversfyng assets (ncludng property, rsk party [structured beta], real return and alternatve rsk prema) and about 25% n fxed nterest and cash. 4 Medum to hgh 5 years or more % Asset class Range % 12% Australan shares Internatonal shares^ % Emergng markets shares 0 6 Property % Rsk party (structured beta) % Real return 6 11 Alternatve rsk prema % Australan fxed nterest % 7% 4% Internatonal fxed nterest 4 9 Cash 0 2 ^ Approxmately half hedged to Australan dollars. * Note that the nformaton about the sutablty of partcular optons s general n nature and s ncluded as requred by law. It s not ntended to be a recommendaton or statement of opnon n relaton to any partcular opton. Members are encouraged to seek ther own advce f they are uncertan as to whch opton mght be most approprate for them. ** The volatlty level shown s based on ndustry gudance to allow members to compare nvestment optons that are expected to delver a smlar number of negatve annual returns over any 20-year perod. It s based on the Standard Rsk Measure developed by the ndustry and s not a complete assessment of all forms of nvestment rsk, for nstance t does not detal what the sze of a negatve return could be or the potental for a postve return to be less than a member may requre to meet ther objectves. Further, t does not take nto account the mpact of admnstraton fees and tax on the lkelhood of a negatve return. Members should stll ensure they are comfortable wth the range of rsks and potental losses and gans assocated wth ther chosen nvestment optons. # Note: Over the 12 months endng February 2018, the Fund s assets are beng progressvely transtoned to the target asset allocaton shown above. Over ths perod the assets wll be nvested wthn the ranges shown above but wll not necessarly reflect the fnal target allocaton shown. The volatlty level shown s that expected on completon of the transton. Further detals about nvestments, ncludng nformaton about the Fund s other nvestment optons, nvestment rsks and how to change optons s contaned n the Investment Gude. You should read the mportant nformaton about nvestments before makng a decson. Go to the Investment Gude avalable on the webste at The materal relatng to nvestments may change between the tme when you read ths Statement and the day when you acqure the product. 6 Fees and costs DID YOU KNOW? Small dfferences n both nvestment performance and fees and costs can have a substantal mpact on your long-term returns. For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your fnal return by up to 20% over a 30-year perod (e.g. reduce t from $100,000 to $80,000). You should consder whether features such as superor nvestment performance or the provson of better member servces justfy hgher fees and costs. You or your employer, as applcable, may be able to negotate to pay lower fees. Ask the fund or your fnancal advser. TO FIND OUT MORE If you would lke to fnd out more, or see the mpact of the fees based on your own crcumstances, the Australan Securtes and Investments Commsson (ASIC) webste ( has a superannuaton calculator to help you check out dfferent fee optons. Ths secton shows the fees and other costs you may be charged for the Fund s Growth opton. Informaton n ths secton can be used to compare costs of the Fund wth other smlar superannuaton funds. These fees and costs may be deducted from your account n the Fund or from the returns on your nvestment. Other fees, such as actvty fees and nsurance fees, may also be charged, but these wll depend on the nature of the actvty or nsurance chosen by you. Refer to page 8 for detals of the costs of spouse voluntary nsurance. Fees shown nclude GST and stamp duty f applcable. ASIC s superannuaton calculator at can be used to check the effect of fees and costs on your account balance. Product Dsclosure Statement Spouse members 5

6 Dow Australa Superannuaton Fund Type of fee Amount How and when pad Investment fee Growth opton: 0.60% to 0.65% per year ($6.00 to $6.50 per $1,000) Investment fees are deducted from nvestment returns before the Declared Earnng Rate(s) are appled to your accounts. Admnstraton fee 0.41% per year ($4.10 per $1,000) The admnstraton fee s deducted from nvestment returns before the Declared Earnng Rate(s) are appled to your accounts. Buy-sell spread Nl Not applcable. Swtchng fee $98 excludng the frst swtch each Deducted from your Spouse Account. calendar year Ext fee $154 Deducted from any wthdrawal from the Fund. No ext fee apples when you transfer your lump sum beneft nto a Retaned Beneft Account or Account-Based Penson n the Fund. Advce fees Nl Not applcable. relatng to all members nvestng n a partcular nvestment opton Other fees and Other fees may apply. costs 1 Indrect cost rato Nl Not applcable. 1 Insurance fees for Spouse voluntary nsurance and fees for certan actvtes may apply (see Addtonal explanaton of fees and costs n the Fees and Tax Sheet). Example of annual fees and costs The table gves an example of how the fees and costs n the Growth opton for ths superannuaton product can affect your superannuaton nvestment over a 1 year perod. You should use ths table to compare ths superannuaton product wth other superannuaton products. Dow Spouse members EXAMPLE Growth opton BALANCE OF $50,000 Investment fees PLUS Admnstraton fees PLUS Indrect costs for the Growth opton EQUALS Cost of product 0.65% per year 0.41% per year Nl For every $50,000 you have n the superannuaton products you wll be charged $325* each year. And, for every $50,000 you have n the superannuaton product you wll be charged $205 each year. And, ndrect costs of nl each year wll be deducted from your nvestment. If your balance was $50,000, then for that year you wll be charged fees of $530 for the superannuaton products. * The fee shown s the maxmum nvestment fee applcable, on a gross of tax bass. Note: Addtonal fees may apply. And f you leave the superannuaton fund, you may also be charged an ext fee of $154 and a buy-sell spread. The buy-sell spread for extng s 0% (ths wll equal to $0 for every $50,000 you wthdraw). Fee changes Some fees may be ndexed annually (e.g. n lne wth ncreases n Average Weekly Ordnary Tme Earnngs); others depend on the servces provded to the Fund each year. The Trustee reserves the rght to ncrease the fees wthout your consent f necessary n order to manage the Fund. It may also ntroduce new fees. You wll generally be gven at least 30 days notce of any fee ncreases. The fees charged may depend on your employment status or category of membershp n the Fund. If you change categores, you wll be advsed of any changes to the fees that apply to you. For defntons of varous fees, refer to the Fee Defntons leaflet at Further detals about fees, ncludng those applyng to the Fund s other nvestment optons and defntons of varous fees, are contaned n the Fees and Tax Sheet. You should read the mportant nformaton about fees before makng a decson. Go to the Fees and Tax Sheet, avalable on the webste at The materal relatng to fees may change between the tme when you read ths Statement and the day when you acqure the product. 6

7 7 How super s taxed The followng taxes apply to super: Tax at up to 15% s deducted from the Fund s nvestment earnngs before they are appled to your accounts. Lump sum and penson payments made from the Fund after age 60 are generally tax-free. Tax may apply before age 60 and wll be deducted before your beneft s pad to you. The Government has set lmts or caps on the amount that can be contrbuted to super each year before extra tax apples. If the after-tax contrbutons (non-concessonal contrbutons) to your Spouse account exceed $100,000* n a year, you could pay tax of up to 47% on the excess contrbutons. No tax apples f your contrbutons are wthn the cap. Any contrbutons splt by your partner (Dow employee) to you wll count towards ther concessonal contrbutons cap and not your own. All taxes due are pad to the Australan Taxaton Offce when requred. Clamng a tax offset If your partner (Dow employee) makes spouse contrbutons on your behalf, t could mean that they are enttled to clam a tax offset on ther ncome tax return. If you earn less than $37,000, they can clam a tax offset of 18% of the frst $3,000 of after-tax contrbutons they make to your Spouse account that s a savng of up to $540 a year on ther tax! The tax offset your partner s enttled to clam wll reduce by $18 for every $100 that your ncome exceeds $37,000, and cuts out altogether once your assessable ncome exceeds $40,000. Other condtons may also apply. Warnng! You and your partner (Dow employee) should provde your Tax Fle Numbers (TFNs) to the Fund. Ths may save you tax. In addton, after-tax contrbutons can only be accepted f both you and your partner (Dow employee) have provded the Fund wth your TFNs. Normally, the Company wll provde your partner s TFN to the Fund when they start work. * Members under age 65 can generally brng forward up to two years of caps to make larger payments. If your contrbutons may trgger the brng forward rule n the 2017/18 year or trggered t n the 2015/16 or 16/17 fnancal years, you are recommended to seek fnancal advce to ensure that you understand the complex transtonal rules that apply. Further detals about tax are contaned n the Fees and Tax Sheet. You should read the mportant nformaton about tax before makng a decson. Go to the Fees and Tax Sheet, avalable on the webste at The materal relatng to tax may change between the tme when you read ths Statement and the day when you acqure the product. 8 Insurance n your super An mportant feature of the Fund s the amount of nsurance whch may be pad to your estate n addton to the balance of your account f you de (f you are elgble). You can apply to purchase voluntary lfe nsurance at your own expense f you wsh (elgblty condtons apply). Ths voluntary nsurance cover does not nclude cover for dsablement. Lke any forms of nsurance, certan condtons (and exclusons) may apply to the grantng or payment of your death cover. Your Spouse account Your death beneft = + Your voluntary nsurance beneft Warnng! These terms and condtons may affect your enttlement to nsurance cover. Spouse voluntary nsurance Voluntary cover s provded n unts, wth the amount of cover per unt varyng dependng on your age. If you are aged 19, one unt provdes $69,600 of addtonal voluntary nsurance cover. If you are aged 64, one unt provdes $3,600 of cover. If you are aged 39, one unt provdes $42,600 of cover. Full detals of the amount of each unt are n the Spouse Super Gude. Product Dsclosure Statement Spouse members 7

8 Cost of voluntary cover The fee for each unt of voluntary cover s $3.00 per month and the cost s deducted from your Spouse account n the Fund. It s the responsblty of both you and your partner (Dow employee) to ensure there are suffcent funds n your Spouse account to cover the monthly fee. Applyng for voluntary cover To apply for voluntary lfe nsurance cover, you wll need to complete the Applcaton for Voluntary Insurance by Spouse Members, ndcatng the number of unts of cover you wsh to purchase. You must be under age 65 to apply. You wll also need to complete the nsurer s Personal Statement provdng evdence that you are n good health. The nsurer wll revew your Personal Statement and as a result, may apply a loadng to your fee or mpose restrctons or exclusons on the cover granted. It may even refuse your applcaton for cover. If you elect not to submt ths evdence, or f the nsurer does not accept your applcaton, your benefts wll be restrcted accordngly. You wll be advsed f ths affects you. Your voluntary lfe nsurance cover commences from the date that your applcaton s accepted by the Insurer. You can change or cancel your cover at any tme. Further detals about nsurance ncludng the amount of cover, fees and mportant condtons and exclusons are contaned n the Spouse Super Gude. These may affect your enttlement to obtan nsurance cover. You should read the mportant nformaton about nsurance before makng a decson ncludng whether the nsurance s approprate for you. Go to the secton Insurance for Spouse members n the Spouse Super Gude on the webste at The materal relatng to nsurance may change between the tme when you read ths Statement and the day when you acqure the product. Contnung your nsurance You may also have the opton to contnue your nsurance cover as a personal polcy when you leave the Fund wthout the need to provde further evdence of good health f you satsfy the nsurer s elgblty crtera. To take advantage of the contnuaton offer, you must be under 65 years when you cease beng a Spouse member and apply and pay the premum wthn 60 days of ths date. The level of cover avalable cannot exceed the amount you had whle you were n the Fund and any restrctons, or loadngs wll contnue to apply. Other condtons also apply. Ths cover s provded under an nsurance polcy taken out by the Trustee on behalf of Fund members. As such, the benefts and premums that apply to your cover may change from tme to tme, however you wll be advsed f ths occurs. As a Spouse member, your death beneft s pad to your estate. You should ensure you have a current Wll. 9 How to open an account Step 1: Read ths PDS carefully to learn about the optons and features avalable to you. Step 2: Consder your super choces and together wth your partner (Dow employee) decde: A. How much your partner wll contrbute to your Spouse account; B. Your nvestment choce (you must make a choce or your applcaton for membershp cannot be processed); and C. If you want to apply for voluntary lfe nsurance cover. Step 3: Complete and sgn the Applcaton for Spouse Membershp and Contrbutons and an Applcaton for Voluntary Insurance by Spouse Members (f you want to apply for nsurance) and send them to Human Resources. If you have a complant The Fund has an nternal process for dealng wth enqures and complants. Any complants should be drected to: The Fund Admnstrator Dow Australa Superannuaton Fund PO Box 1442 Parramatta NSW 2124 Phone: Emal: dowsuper.australa@ towerswatson.com Your prvacy The Trustee beleves your prvacy s mportant and so has developed a Prvacy Polcy to protect your personal nformaton. The statement outlnes how we handle members personal nformaton. Contact the Fund Admnstrator for a copy or vst the webste. You should read the mportant nformaton about your account before makng a decson. Go to the secton How to open an account n the Spouse Super Gude avalable on the webste at The materal relatng to your account may change between the tme when you read ths Statement and the day when you acqure the product. 8

9 Applcaton for Spouse Membershp and Contrbutons You and your spouse should complete ths form f you are a member of the Dow Australa Superannuaton Fund and you want to contrbute to the Fund on behalf of your spouse. Under tax rules, your spouse s your partner of the same or opposte sex (marred or de facto) that you lve wth. For more nformaton on spouse membershp, see the Fund's Product Dsclosure Statement (PDS) for Spouse Members or vst the Fund's webste at Please return ths form to Human Resources. Member detals Ttle Dr Mr Mrs Ms Other (please state) Surname Gven name(s) Employee number Home address Date of brth / / dd mm yyyy State Postcode Ths must be the same address as your spouse. You must notfy the Trustee mmedately should ths address change. Spouse contrbutons I would lke to open a Spouse account on behalf of my spouse and nomnate an after tax contrbuton of $ to be deducted from my pay each pay perod. (Must be a whole dollar fgure.) Note: See the Fund's PDS for Spouse Members for more nformaton on the tax mplcatons of makng spouse contrbutons. Member declaraton I have receved, read and understood the publcatons that form the Product Dsclosure Statement for Spouse Members for the Dow Australa Superannuaton Fund. I confrm that I am an Australan taxpayer. I would lke to make spouse contrbutons for the amount I have nomnated untl further notce. I authorse the Company to deduct my spouse contrbutons from my after-tax pay and to remt them to the Fund. I understand that: Once deducted from my pay, these contrbutons wll be held on trust for the beneft of my spouse. These contrbutons wll count toward my spouse's non-concessonal cap. I may vary my nomnated spouse contrbutons each month. My new spouse contrbuton rate wll be effectve from the next pay perod after my nstructon has been processed. By law I am not elgble to make spouse contrbutons unless I contnue to lve wth my spouse (named heren) and I am an Australan taxpayer. Applcaton for Spouse Membershp and Contrbutons Contnued overleaf 1

10 If I dvorce or lve separately from my spouse I must mmedately stop contrbutng for my spouse and advse the Trustee of the change n my crcumstances. I confrm that I am a member (or have appled for membershp) of the Dow Australa Superannuaton Fund and that the above nformaton s true to the best of my knowledge and belef. Member's sgnature Date / / dd mm yyyy Spouse Member detals Ttle Dr Mr Mrs Ms Other (please state) Surname Gven name(s) Date of brth Relatonshp to member / / dd mm yyyy Marred De facto spouse Provdng your emal address Applcaton for Spouse Membershp and Contrbutons The Trustee may decde to provde nformaton about the Fund or your benefts electroncally n the future. Ths mght nclude Product Dsclosure Statements, Beneft Statements, Annual Reports, newsletters or nformaton on materal changes to your super or sgnfcant events. If you'd lke to receve nformaton electroncally, where avalable, please provde your emal address. Emal address Spouse Member's Tax Fle Number* Spouse Member's Tax Fle Number s * Your Tax Fle Number (TFN) s confdental. Under the Superannuaton Industry (Supervson) Act 1993, the Fund s authorsed to collect, use and dsclose your Tax Fle Number. The Trustee may dsclose your Tax Fle Number to another superannuaton provder, when your benefts are beng transferred, unless you request the Trustee n wrtng that your Tax Fle Number may not be dsclosed to any other superannuaton provder. Declnng to quote your Tax Fle Number to the Trustee s not an offence. However, gvng your Tax Fle Number to the Fund wll have the followng advantages: The Fund wll be able to accept all permtted types of contrbutons to your account/s; Other than the tax that may ordnarly apply, you wll not pay more tax than you need to - ths affects both contrbutons to your superannuaton and beneft payments when you start drawng down your superannuaton benefts; and It wll make t much easer to fnd dfferent superannuaton accounts n your name so that you receve all your superannuaton benefts when you retre. Contact the Fund Admnstrator or vst the Fund's webste for more nformaton about how your TFN may be used. 2

11 Spouse Member's nvestment choce Tell us how to nvest your super. You can keep t smple or do t yourself. Please read the Fund's PDS for Spouse Members for more nformaton. You must make a choce to jon the Fund. 1. Keep t smple approach Choose ONE of the three packaged optons below for your super* (please tck ONE box only) Assertve Growth Conservatve OR 2. Do t yourself approach Complete both Step 1 and Step 2 below f you want to create your own nvestment strategy. You can choose any combnaton of the eght nvestment optons for your future contrbutons and your exstng super n the Fund. Make sure your selectons add up to 100% n each step. Step 1 AND Step 2 Choose a strategy for your future super contrbutons Please select from the eght optons below Choose a strategy for your exstng super balance n the Fund as at the date of ths applcaton* Please select from the eght optons below Packaged optons % Packaged optons % Assertve Growth Conservatve Asset class optons Internatonal Shares Australan Shares Property Fxed Interest Cash Assertve Growth Conservatve Asset class optons Internatonal Shares Australan Shares Property Fxed Interest Cash TOTAL (must equal 100%) TOTAL (must equal 100%) * Your completed form must be receved by the Fund Admnstrator before the end of the month for your new choce to be effectve from the frst day of the followng month. Applcaton for Spouse Membershp and Contrbutons Contnued overleaf 3

12 Spouse Member's declaraton I have receved and understood the publcatons that form the Product Dsclosure Statement for Spouse Members for the Dow Australa Superannuaton Fund. I understand that any death beneft wll be pad to my legal personal representatve/estate. I wll notfy the Trustee mmedately f my address changes. I agree to be bound by the provsons of the Trust 0Deed and Rules of the Dow Australa Superannuaton Fund. I have read and understood the summary of the Fund's Prvacy Polcy contaned n the Product Dsclosure Statement. I declare that the above nformaton s true and correct to the best of my knowledge and belef. If I have provded my emal address, I agree that the Trustee may use that emal address to send me nformaton ncludng Product Dsclosure Statements, Beneft Statements, Annual Reports, newsletters or nformaton on materal changes to my super or sgnfcant events, electroncally. Spouse Member s sgnature Date / / dd mm yyyy Applcaton for spouse lfe nsurance You wll be suppled wth a separate form f you want to apply for spouse lfe nsurance. Please tck the box below f you would lke an applcaton form. Yes, please provde me wth an Applcaton for Voluntary Insurance by Spouse Members. Applcaton for Spouse Membershp and Contrbutons Throughout ths document, we refer to the Company. Ths s the employer for employees of Dow Chemcal (Australa) Ltd, Dow AgroScences Australa Lmted, Dow Cornng Australa Pty Ltd, Rohm and Haas Australa Pty Ltd, and afflated companes. Issued by Towers Watson Superannuaton Pty Lmted (ABN , AFSL ), as Trustee for the Dow Australa Superannuaton Fund (ABN ). September