ANNUAL REPORT The BOC Gases Superannuation Fund for the year ended 30 June 2004

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1 Look inside to see: how your super is performing where your super is invested how your Fund works super news what to do when you leave ANNUAL REPORT The BOC Gases Superannuation Fund for the year ended 30 June 2004 Issued by BOC Superannuation Pty Limited ABN as Trustee of the BOC Gases Superannuation Fund ABN

2 See how your super is performing Compare your Fund s performance The table shows your Fund s annual effective rate of net earnings over the past five years compared with the Fund s objectives of exceeding the median investment return of similar funds as well as increases in the cost of living. 20% 15% 10% 5% 0-5% 16.9 Fund Median* CPI** Please note past performance is not a guide to future performance. * Source: Mercer Pooled Fund ** Source: Australian Bureau of Statistics Leaving service benefit If you leave the Fund your benefit is an accumulation benefit. This means it is linked directly to how the Fund s investments have performed. It will be calculated as if your contributions and Employer contributions had grown with the Fund s declared interest rate over time. However, depending on when you joined the Fund, you may be entitled to a Defined Benefit guarantee. If this is the case, your leaving service benefit is calculated as the greater of your account balances and your Defined Benefit. Please call the Fund Helpline on if you are unsure of your benefit type. Any additional voluntary contributions you make and rollover accounts accumulate. If you make additional voluntary contributions, or you have rolled other super benefits into this Fund, this part of your benefit is linked to investment performance Annual effective rate of net earnings for 2004 (the actual rate of return net of tax and investment expenses) Compound average effective rate of net earnings (over the most recent five year period) Credited interest rate for the year to 30 June 2004 (Active and Retained members) (credited to your accounts in the Fund) Credited interest rate for the year to 30 June 2004 (Allocated Pensioners) (credited to your accounts in the Fund) Inflation rate for the year to 30 June 2004 (increase in Consumer Price Index) 16.9%pa 6.5%pa 16.9%pa 18.7%pa 2.5%pa For information about the investment environment leading to this year s investment returns, please turn to page four. Annual interest rate of 16.9%pa Your accounts are credited with a declared interest rate each half year. The six monthly rates during the year were: 6 months to 31/12/ % 6 months to 30/6/ % These interest rates are used to credit interest earnings to your accounts in the Fund. These rates are also applied to any Surcharge account you may have (see page 6 for details). The interest rate takes into account the Fund s investment earnings after allowance for investment expenses and tax on investment earnings. Check your Benefit Statement for the dollar amount of interest credited to your account. Interest rate for pensioners Different tax arrangements for assets supporting pension payments mean that different interest rates apply for Allocated Pensioners. The annual interest rate for Allocated Pensioners for the year to 30 June 2004 was 18.7%. Allocated pension accounts are credited with a declared interest rate each half year. The six monthly rates during the year were: 6 months to 31/12/ % 6 months to 30/6/ % Are you planning to leave? An interim interest rate is used to update benefits for members leaving the Fund before the credited interest rate is declared for each half year. The interim rate is regularly reviewed taking into account the Fund s investment performance. Insurance benefits Your Fund may also provide you with a benefit in the case of your death or total and permanent disablement. 2 BOC GASES SUPERANNUATION FUND

3 Where your super is invested Where your super is invested as at 30 June Your Fund has guidelines for investing The money in the Fund is invested so that the Trustee can provide members with their benefits on retirement Cash 6% Other 7% The Trustee has an investment policy which sets investment strategy and objectives covering how and where the Fund s assets will be invested. Having an objective and strategy is required by law. The Fund s investment strategy helps ensure that your Fund maximises investment returns while maintaining an acceptable level of risk. Please note that the objectives are not a forecast or guarantee of future performance. The investment policy also covers other related matters such as appointment of investment managers and guidelines for investments in futures and options. The Trustee regularly monitors the Fund s performance against objectives and strategy, and changes are made where necessary. No changes to Fund investment guidelines are expected in the near future. A copy of your Fund s investment policy statement is available on request. Your Fund s investment objectives The Fund s primary objective is to achieve investment returns which are considerably above the rate of inflation over the long-term. To achieve this objective, each investment manager is given their own specific objective, which is to outperform the notional return on their relevant benchmark portfolio by a margin as specified in their investment management agreement or as agreed with managers in relation to the investment pools which the Fund invests in. Given these objectives, the asset mix adopted by the Trustee and the long-term outlook for each investment sector and inflation, it is anticipated that the Fund will achieve long-term returns which are in the range of 4% to 5% pa above the rate of inflation. Your Fund s investment strategies all the Fund s assets (other than small cash reserves to meet cash flow requirements) will be managed by professional investment managers not more than 30% of the Fund s assets will be under management by any one investment manager for any extended period of time. spread Fund assets across a range of investments: invest approximately 80% of Fund assets in growth investments (such as shares and property) to take advantage of the higher long-term returns these assets typically provide invest approximately 20% of Fund assets in stable investments (such as fixed interest and cash) to try to limit the variations in returns from year to year. adjust the Fund s asset mix towards the benchmark portfolio by the appropriate direction of cashflow to investment managers, when cashflow is available. Overseas Fixed Interest 8% Australian Fixed Interest 3% 2003 Property 8% Cash 6% Overseas Fixed Interest 5% Australian Fixed Interest 3% Property 8% Other 9% Please note that the asset allocations were reported differently in previous annual reports. Other includes a tactical asset allocation fund and investments in infrastructure and development capital funds. Who manages the investments? Proportion of total assets as at 30 June Australian Shares 33% Overseas Shares 35% Australian Shares 32% Overseas Shares 37% Investment manager or product MBA Australian Shares 18.1% 16.2% Schroder Australian Shares 17.9% 16.3% Credit Suisse Overseas Shares 19.7% 16.0% Fidelity Overseas Shares 15.1% BGI Overseas Shares 15.3% AMP Property & Other 11.2% 13.3% PIMCO Overseas Bonds 7.7% 8.7% BGI Australian Bonds 3.3% 3.0% BGI TAA 2.1% 3.5% Mellon Active overlay 2.8% 3.2% Mellon Passive overlay 0.7% 2.5% BNP Paribas Funding Account 1.2% 2.2% Total 100.0% 100.0% Since 30 June 2004 the Fund has appointed Perennial Value Management as a third Australian Shares manager and undertaken a Defensive Asset restructure. For more detail on these changes, please refer to recent Fund newsletters. Under super law, the Trustee must give details of any investment over 5% of the Fund s total assets. The table above shows the proportions of total assets held in each investment including those in excess of 5% of total assets. BOC GASES SUPERANNUATION FUND 3

4 Keeping an eye on risk The Trustee does not directly utilise derivative instruments. With the exception of one investment manager with specialist expertise in using derivatives (an asset allocation overlay manager ), no investment manager is permitted to use derivatives (e.g. futures contracts, forward transactions and options) to an extent greater than the value of the assets which are managed by them. Under the Trustee s investment policy statement, an asset allocation overlay manager may use derivatives to the extent of the total value of assets and asset classes of the Fund and under investment management agreement guidelines which ensure that the net exposures that are created are consistent with the provisions of the Trustee s investment policy statement. Environmental, social and ethical considerations Decisions to invest in or realise the Fund s investments are based on key financial and managerial criteria. The Trustee does not separately consider social, environmental or ethical factors or labour standards to make these decisions. Your investment returns and the investment environment for the year to 30 June 2004 Global share markets kicked off to a strong start in the first half of the 2003/2004 financial year assisted by continued signs of a recovery in the global economy and improved investor confidence. In the second half of the financial year concerns crept in over the sustainability of US economic growth and political risks in Europe created some uncertainty. Nevertheless, global share markets generally finished the year well. In Australia, economic growth remained strong, but recent signs of moderating growth have emerged. Late in the year the unemployment rate fell to a 23 year low of 5.5%. Housing finance figures have stabilized and, while still indicating strong credit growth, residential auction clearance rates are at their lowest levels for at least a decade. Superannuation funds benefited from the continued market recoveries and most funds posted positive returns in Your fund delivered an annual effective return of (net of tax and charges) of 16.9% for the year. This compares well with the median returns from the Mercer Pooled Fund survey for the same period, which were 13.7% for Balanced super funds and 16.1% for Growth super funds. The investment environment in more detail Australian Shares (up 21.7% for 12 months to 30 June 2004) S&P/ASX 300 Accumulation Index A strong Australian economy produced good growth during the 2003/2004 financial year. In terms of industries, the best returns came from IT, energy and the materials sectors with poorer results from utilities and the financial sector (excluding property). The Reserve Bank lifted interest rates by a quarter of a percent in both November and December 2003 in response to the strengthening economy. Overseas Shares (up 19.4% for 12 months to 30 June 2004) MSCI World (ex-australia) Unhedged Index (in A$) In local currency terms, most overseas share markets experienced strong gains over the 12 months to 30 June. Investor confidence returned following the end of the war in Iraq, relatively low interest rates around the world, governments providing tax cuts for business and investors and improved company profits. The best performing share markets over the year were Japan (NIKKEI up 31%), Hong Kong (Hang Seng up 28%), the US (S&P 500 up 19%) and Germany (DAX 200 up 32%). Property (up 17.2% for 12 months to 30 June 2004) S&P/ASX 300 Property Trusts Accumulation sub-index Unlisted property markets recorded a healthy financial year return of 11.9%, the highest since June Listed property also recorded impressive yearly returns of 17.2%. Corporate activity, particularly the announcement of the combining of the three Westfield entities, helped drive this result. Australian Fixed Interest (up 2.3% for 12 months to 30 June 2004) UBSWA Composite Bond Index (All Maturities) The Reserve Bank of Australia lifted interest rates by 0.25% twice in the first six months of 2003/2004 financial year which dampened returns from our fixed interest market. Overseas Fixed Interest (up 3.5% for 12 months to 30 June 2004) Citigroup World Govt Bond Index (ex Aust, hedged) The much anticipated US interest rate rise occurred in late June 2004, with the Federal Reserve raising its short term cash rate target by a quarter of a percent to 1.25%. The Bank of England reduced UK interest rates by the same amount in the early part of the financial year then raised them by 0.25% on four separate occasions to finish at 4.5%. The European Central Bank and the Bank of Japan left official cash rate targets unchanged. Some investment terms explained Consumer Price Index (CPI) is used to measure the rate of increase in inflation. In Australia it is based on the change in prices of a selection of household goods and services. Average Weekly Earnings (AWE) is used to measure the rate of increase in average wages in Australia. Asset class type of investment such as Australian shares, property, securities or Australian fixed interest etc. Growth assets assets expected to grow in value over time (although their value may rise and fall in the short term), such as shares and property. Stable assets assets held to generate an income rather than for long-term growth. They are sometimes referred to as debt assets or defensive assets. Examples are fixed interest and cash. Asset allocation is the range of assets held in the various asset classes such as Australian shares, overseas shares, property. If you have a question about your benefits in the Fund Please call the Fund Helpline on BOC GASES SUPERANNUATION FUND

5 How your Fund works Your Fund is run by a Trustee Company, BOC Superannuation Pty Limited, according to its governing legal document, the Trust Deed, and super laws. There are 6 directors in the Trustee Company 3 are elected by the members of the Fund in accordance with the rules for Member Representative Directors and 3 are appointed by BOC Limited. Following the election held this year, Mr Neil Gleeson was elected and Mr Trevor Hall and Mr John Leetham were re-elected as a Member Representative Directors. Directors of the Trustee at 30 June 2004 were: Member Representatives Neil Gleeson (appointed 5 July 2004) Trevor Hall Clyde Ikin (resigned 30 June 2004) John Leetham Appointed by BOC Limited Sandra Bishop Fergus Scott Warwick Webb The Fund has a specific set of rules applying to the appointment and removal of Member Representatives and the filling of casual vacancies. For a copy of these rules, contact the Fund Helpline on Mr Allan Murphy was appointed as the Superannuation Manager for BOC Limited, South Pacific, in September Advice about your super While the Trustee and the Fund Helpline can give you information about your benefit in the Fund, neither the Trustee, BOC Limited or the Superannuation Manager can provide you with any advice. The Fund Helpline can provide you with general advice regarding the Fund and your benefits¹. If you require any personal advice about superannuation you should consult an appropriately licensed financial planner. Your Fund has these advisers The following specialist advisers help run the BOC Fund: Investment Consulting Mercer Investment Consulting² Auditor Ernst & Young Administrator Mercer Human Resource Consulting Pty Ltd Legal Mercer Legal Pty Ltd Corrs Chambers Westgarth Actuary Russell Employee Benefits Master Custodian of Assets BNP Paribas Security Services ¹ The Fund Helpline is administered by Mercer Human Resource Consulting Pty Ltd (Mercer) under an agreement with the Trustee. Mercer Human Resource Consulting Pty Limited is a corporate authorised representative of Mercer Investment Nominees Limited, AFS license number ² Mercer Investment Consulting is a division of Mercer Human Resource Consulting Pty Ltd ABN which is a corporate authorised representative # of Mercer Investment Nominees Limited ABN AFS Licence # Insurance protection The Trustee does not hold indemnity insurance as BOC Limited has agreed (under the Trust Deed) to indemnify it for any loss suffered in exercising its power and duties as Trustee, other than where due to dishonest acts or intentional or reckless failure to exercise due care and diligence. Special tax treatment Super is one of the most effective ways to save because it is taxed at a lower rate than many other forms of income. To get this tax advantage, your Fund must operate according to a strict set of laws. To show that your Fund has followed these laws, the Trustee lodges a return each year with the Australian Prudential Regulation Authority (APRA). The Trustee is unaware of any event, occurring during the year, that would affect this special tax treatment. The Fund is a regulated complying superannuation fund for the purposes of government legislation. No penalties were imposed on the Trustee under Superannuation Industry Supervision (SIS) legislation or Financial Services Reform legislation during the year. Financial summary This is a summary of the Fund s audited accounts for the year ended 30 June You can request a copy of the audited accounts and auditor s report from the Fund Contact. Statement of change in financial position Net assets at 30 June 2003 $337,961,860 plus Net investment revenue $ 63,453,822 Employer contributions $ 22,010,398 Member contributions $ 1,052,880 Transfers from other funds $ 5,040,517 Total revenue $ 91,557,617 less Benefits paid $ 22,052,668 Superannuation contributions surcharge $ 2,149,374 Income tax expense $ 8,044,319 General administration expenses $ 56,880 Total expenses $ 32,303,241 equals Net assets at 30 June 2004 $397,216,236 Statement of financial position at 30 June 2004 Assets Investments $396,990,679 Other assets $ 4,374,958 Total assets $401,365,637 less Liabilities Accrued expenses $ 1,159,886 Provision for income tax $ 1,906,038 Deferred tax liabilities $ 1,083,477 Total liabilities $ 4,149,401 equals Net assets at 30 June 2004 $397,216,236 Vested Benefits at 30 June 2004 $382,306,342 Reserve at 30 June 2004 $ 14,909,894 BOC GASES SUPERANNUATION FUND 5

6 Super news Financial Services Reform legislation now in effect All superannuation funds are required to comply with the new requirements of the Financial Services Reform legislation which came into effect on 11 March The legislation provides a new legal framework for providers of financial products and services including super funds. The aim of the legislation is to provide greater protection to fund members. Choice of fund a reality from 1 July 2005 For several years the Government has been trying to pass legislation that would provide employees with a greater choice on the super fund they join. The legislation has (with some amendments) now been passed by the Senate and will take effect from 1 July You will be informed about the new legislation and how this affects you nearer the commencement date. Matching contribution for low income earners The Government introduced a scheme during the year to enable low income earners (with an income of less than $40,000), making personal contributions to super, to receive a matching contribution from the Government of up to $1,000 for the 2003/2004 financial year. For this financial year, the matching contribution phased out for incomes between $27,500 and $40,000. To be eligible for the co-contribution for the 2003/2004 financial year, the following criteria apply: You needed to have made after-tax member contributions (not before-tax salary sacrifice contributions) during the year; Your income* was less than $40,000; You needed to earn at least 10% of your income from employment as an employee; and You needed to be under age 71 at the end of the financial year. From 1 July 2004: The co-contribution increased to $1.50 for each $1 of after-tax member contributions up to a maximum of $1,500; and The maximum co-contribution applies for income* up to $28,000 and phases down to zero for incomes of $58,000 * Income is your assessable income plus your reportable fringe benefits. New licensing for super trustees The Federal Government passed legislation to deliver further protection for super fund members under the Superannuation Safety Amendment Act The new licensing requirements aim to ensure that trustees have the capacity to effectively manage risks and operate funds in a way which minimises risks to members. The legislation took effect from 1 July 2004 but with a 2 year transition period. Updated reasonable benefit limit thresholds Your super benefits may be subject to tax when they become payable to you. A higher rate of tax will apply to any part of your benefit that exceeds your Reasonable Benefit Limit (RBL) which is set by the Government. Most super benefits and employer golden handshake payments you receive in your lifetime are added together and compared with this limit. RBLs are indexed each 1 July in line with increases in Average Weekly Ordinary Time Earnings (AWOTE). For most members, the RBLs are: 2003/ /2005 tax year tax year Benefit taken as a lump sum $588,056 $619,223 At least 50% of benefit taken $1,176,106 $1,238,440 as a complying pension Some members may be entitled to a higher transitional RBL based on their circumstances in 1994 when the current RBL rules were introduced. As the RBL rules are very complex, before you retire you should seek appropriate advice from a licensed financial adviser if your benefits are close to or above the RBL limits. Surcharge tax reductions Surcharge is an additional tax of up to 14.5% for the 2003/2004 financial year and 12.5% for the 2004/2005 year on employer contributions and member before-tax contributions. The surcharge tax commences to apply at reduced rates if your adjusted taxable income exceeds $94,691 in 2003/2004 financial year and $99,710 in 2004/2005. The maximum rate of the surcharge applies if your adjusted taxable income for the 2003/2004 tax year exceeded $114,981 (or $121,075 for the 2004/2005 year of income). If the Fund is required to pay surcharge tax in respect of contributions made for you, the tax payable will be charged to an account in your name in the Fund. Your surcharge account (including any interest) will be deducted from your benefits when you leave the Fund. Check this year s Benefit Statement to see if surcharge tax has applied to you. Contribution splitting New legislation has been proposed that allows members to split their personal and employer contributions with their spouse. At the date of publication this legislation has not been passed by Federal Parliament. Changes to the Fund s Trust Deed During the year two amendments were made to the Fund s Trust Deed to take account of changes made to the Family Law Act and to update provisions relating to the appointment of Service Providers. The Trustee and BOC Limited will consider the impact of this legislation on the operations of the Fund. You will be advised further about this. 6 BOC GASES SUPERANNUATION FUND

7 New definition of dependant New legislation passed through Parliament on Choice of Fund includes amendments to the Income Tax Assessment Act and the SIS Act to expand the definition of dependant in relation to the payment and tax treatment of super death benefits. These amendments will take effect immediately. The definition of dependant has been broadened to include any person with whom the person has an interdependency relationship. Two persons have an interdependency relationship if they meet all of the following criteria: they have a close personal relationship they live together one or each of them provides the other with financial support one or each of them provides the other with domestic support and personal care. The Trustee is reviewing the Trust Deed with a view to ensuring that the provisions of the Trust Deed are consistent with this change. Legislative changes affecting some contributions There have been some changes to legislation (effective now) which set out the conditions that must be met for a fund to accept contributions by or in respect of a member. In brief, members under age 65 no longer need to be working to make contributions to a super fund (providing the super fund can accept contributions from persons other than employees). For members over age 65, there have been changes to the minimum number of hours a person must work before a fund can accept contributions. Similarly, there have been changes to the legislation which makes it compulsory for a trustee to pay benefits after age 65 if certain conditions are not met. If you require more detailed information please contact the Fund Helpline. What to do when you leave Remember to claim your benefit If you are about to leave work and take your super make sure you respond promptly to letters from the Trustee about your benefit payment. If you have reached the eligibility age for the Age Pension and have not told your Fund how and where to pay your benefit, and you cannot be contacted, then your benefit will be considered to be unclaimed money. It will then be placed with the ATO or relevant State or Territory authority for placing unclaimed money. You will then need to contact the ATO or State or Territory authority to find out how to claim your benefit. If you are aged 64 or less and leave BOC Limited, you may leave some or all of your benefit in the Fund, subject to a minimum amount of $10,000. Subsequent withdrawals (if available) can be made no more than once every 3 months (minimum withdrawal is $2,000). You can leave your benefit with the Fund for as long as you like, up to age 65, after which you must withdraw it all or convert it to an allocated pension. If your benefit is $10,000 or more it will be automatically retained in the BOC Gases Superannuation Fund unless you instruct otherwise. If your benefit is less than $10,000 and you do not provide payment instructions to the Fund Administrator within 90 days of leaving BOC Limited, your benefit may be transferred to an Eligible Rollover Fund (ERF). Upon transfer, you will no longer be a member or have any rights under the BOC Fund. ERFs are designed as holding funds and are required to provide member protection for small accounts. As a result the rate of return in the ERF may be lower than in another superannuation fund. You should seek professional financial advice about the best place to rollover your benefit when you leave service. The Fund uses the following ERF: AMP Eligible Rollover Fund Locked Bag 5400 Parramatta NSW 1741 Phone: Fax: Set out below is a summary of some of the more significant features of the AMP Eligible Rollover Fund, current as at September The assets of the ERF are invested in a capital guaranteed life insurance policy (ERF Policy) issued to AMP Superannuation Limited (ASL) by AMP Life Limited (AMP Life). The ERF Policy is a participating policy in AMP Life s Number 1 Statutory Fund (AMP No 1 Fund). There is no choice of investment available to members within the ERF. Returns are guaranteed never to be negative. For larger account balances (currently over $2,500) the investment objective is to provide returns over the longer term exceeding those from cash with security of capital. The investment strategy for the assets in the AMP No 1 Fund (that are backing the ERF Policy) is centered on cash and fixed interest investments, supplemented by investments in shares and property to provide long term growth. AMP Life declares multi-tiered crediting rates of investment earnings (interest) with respect to the ERF Policy. The interest to be credited to a member s account is calculated based on a member s daily balance and credited annually (or on withdrawal). Where a member s account balance is less than $1,000 no interest is credited. There are no fees charged directly to a member s account by ASL. Administration and investment fees as well as taxes (including earnings tax) are deducted by AMP Life before declaring any interest to be credited under the ERF Policy. The ERF is unable to accept contributions from members or their employers, however, rollovers from other superannuation funds are permitted. The ERF does not provide insurance cover. Should you wish to know more information about the AMP Eligible Rollover Fund, contact the AMP Eligible Rollover Fund Inquiries Officer for a copy of their Product Disclosure Statement. Plan for your future As a member of the BOC Gases Superannuation Fund, if you are about to leave employment, the Trustee has arranged for you to have access to an initial consultation (at a reduced cost to you of $200) with a financial adviser from Mercer Wealth Solutions¹. You can arrange a consultation by calling FreeCall The Trustee does not make any recommendations about which financial adviser you should use. You are encouraged to talk to more than one financial adviser before making important financial decisions. ¹ Mercer Wealth Solutions is a division of Mercer Human Resource Consulting Pty Ltd ABN which is a corporate authorised representative # of Mercer Investment Nominees Limited ABN AFS Licence # BOC GASES SUPERANNUATION FUND 7

8 Like to know more? The BOC Gases Superannuation Fund Product Disclosure Statement dated 11 March 2004 contains important information about how the Fund works. A copy is available on the Fund s website at You also receive a six monthly Benefit Statement containing important personal information about your benefits in the Fund. Other documents relating to the Fund that are available for you to look at are: the Trust Deed the investment policy statement the latest audited accounts and auditor s report details of how the Directors of the Trustee are elected and how they can be removed the enquiries and complaints procedure the Privacy Policy. If you have a question about your benefits in the Fund please contact the Fund Helpline. The Fund Helpline can provide you with general advice regarding the Fund and your benefits. Please note that neither the Trustee, its Directors, or the BOC Superannuation Manager are able to give any advice relating to the Fund or your own circumstances. If you require any personal advice about superannuation you should consult an appropriately licensed financial planner. Additional information about the BOC Fund as well as general information about superannuation can be obtained from the Fund s website at The information on this site is presently being expanded to provide enhanced services for all members. Fund Contact details Helpline (for the cost of a local call from anywhere in Australia): If you are calling from outside Australia the call (normal international call costs will apply) If you have a problem... Most queries can be sorted out over the phone, but if we are unable to help you immediately, you may be asked to put your question in writing and we will reply within 28 days. If you are not satisfied with the response you should write to your Complaints Officer (Mr Allan Murphy) at the address above who will pass your complaint to the Trustee. You can expect a decision within 90 days. The Fund always seeks to resolve any complaints to the satisfaction of all concerned and in the best interests of all the members of the Fund. However, if you have followed the steps outlined above and are not satisfied with the outcome, you may be able to take the matter to the Superannuation Complaints Tribunal. The Tribunal is an independent body that aims to resolve certain types of superannuation disputes. Any complaints must be lodged with the Tribunal within certain time limits. For more information about requirements and time limits, you can call the Superannuation Complaints Tribunal on If the Tribunal accepts your complaint it will try and help you and the Fund reach a mutual agreement through conciliation. If conciliation is unsuccessful, the complaint is referred to the Tribunal for a determination which is binding. Disclaimer This annual report has been prepared by the Trustee to meet its legislative obligations under the Corporations Act. Any advice contained in this annual report does not take account of the specific needs, personal or financial circumstances of any persons. Readers should obtain specialist advice from a licensed financial adviser before making any changes to their own superannuation arrangements or investments based on the information contained in this report. The terms of your membership in the Fund are set out in the Fund s Trust Deed, and should there be any inconsistency between this annual report and the Fund s Trust Deed, the terms of the Fund s Trust Deed prevail. While all due care has been taken in the preparation of this report, the Trustee reserves its right to correct any errors and omissions. This document contains general information about investments and investment performance. Please remember that past performance is not necessarily a guide to future performance or you can write to: The Administrator BOC Gases Superannuation Fund c/- Mercer Human Resource Consulting Pty Ltd GPO Box 3479 Sydney NSW 2001 Most enquiries will be dealt with through the BOC Gases Superannuation Fund s Helpline s toll free telephone number, , or by writing to the administrator at the address above. If your issue cannot be resolved satisfactorily by the Fund Helpline, specific problems or complaints should be directed to: The Complaints Officer Mr Allan Murphy PO Box 288 Chatswood NSW 2057 Phone: (02) Fax: (02) allan.murphy@boc.com 8 BOC GASES SUPERANNUATION FUND