Oracle Superannuation Plan

Transcription

1 Oracle Superannuation Plan Application for Benefit Payment You MUST complete this section. Section 1: Your personal details Surname: Given Names: Date of Birth: Address: Contact telephone number: (during working hours) Your tax file number Under the superannuation legislation, the Fund is authorised to collect your TFN, which will only be used for lawful purposes. These purpose may change in the future as a result of legislative change. The Trustee may disclose your TFN to another superannuation fund when your benefits are being transferred, unless you request the Trustee in writing that your TFN not be disclosed to any other superannuation provider. It is not an offence not to quote your TFN. However, giving your TFN to the Fund may have the following advantages (which may not otherwise apply): - The Fund will be able to accept all permitted types of contributions to your account; - Your employer s contributions will be taxed at the concessional rate; - Other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your superannuation benefits; and - It will make it much easier to trace different superannuation accounts in your name so that you receive all your superannuation benefits when you retire. You may have already quoted your Tax File Number to the Trustee, in which case you do not need to quote it again. If you are in any doubt, however, it is recommended that you quote your Tax File Number here. My tax file number is / /

2 Retiring from the workforce You cannot generally withdraw your preserved amount in cash until you reach your preservation age and the Trustee is satisfied that you intend to permanently retire* from the workforce. Please tick the box below that applies to you. I have reached my preservation age and am permanently retiring from the workforce I am over age 60 and either ceased employment after reaching that age or have ceased employment and intend to permanently retire I am aged at least 65 * Permanently retire means you intend never again to be gainfully employed for more than 10 hours per week. Australian Resident Status Did you come to Australia on a temporary resident visa which is still valid or was valid at the time you left Australia? Yes No Section 2: Your decision Your Leaving Service Benefit Statement (enclosed with this form) shows: how much of your superannuation benefit you cannot take as cash (the preserved part), and how much you can take as cash if you wish to (the non-preserved part). By law, you must keep the preserved part of your superannuation in a fund (either in this Fund or another superannuation fund) until you reach age 60*. You can choose to take the non-preserved part of your super as cash, or save it with your preserved part. *If you are aged between 55 and 60 and decided its time to retire, you can take all your super as cash. If when leaving service you are over age 60, you can take all your super as cash, even if you continue working. You can receive advice about rollover funds from a number of sources including banks, insurance companies, and from financial planners such as the Towers Watson Financial Planning Service. To speak with a licensed financial adviser from Towers Watson in Melbourne, contact Susan Rio on (03) In Sydney, Towers Watson has engaged ipac securities limited ABN to provide financial planning services. To speak with a licensed financial adviser from ipac, contact ipac on For further information about your benefits, including the fees and charges which may apply, or the impact of the payment of your benefit entitlements, contact the Administrator on Tell us your decision below (by completing one of the three options - A, B, or C and ticking the appropriate box). You may be required to provide proof of identity see Section 3 for further information. Please remember to confirm your decision by signing Section 6 on the back page of this form.

3 OPTION A OPTION B I want to: Leave all of my super in the Retained Benefit Section of the Fund (You may only use this option if you retain at least $10,000. The Leaving your super in the Plan notice shows more information about the Fund s Retained Benefit Section.) Move all of my super to the following super fund(s) If you want to move your super to more than one other fund, please photocopy this form and give us the details below for each of the other super funds. If your fund is a self-managed superannuation fund and its status on the ATO site ( is "Registered - status not determined", you will also need to provide either a certified copy of the letter from the ATO titled Your role as a trustee/director of a self-managed superannuation fund or a certified copy of your self-managed superannuation fund s Trust Deed (Please refer to Section 3 for document certification guidelines). Name of your chosen super fund: Address: Telephone No SFN or ABN of your chosen super fund: Your SPIN or member no in your chosen super fund: (Your chosen fund is able to give you this information and payment can not be made until it is received. The SFN is a 9 digit number, the ABN an 11 digit number and the SPIN a 9 digit number.) Cheque should be made payable to: (Your chosen fund will be able to give you this information.) Amount you want to put in this fund: all of it (ie 100%) or $ % * If a contribution is received by the Plan after your benefit has been paid out, a second benefit payment will be made in accordance with your original instructions. Please note that each time a benefit is paid out of the Plan an Exit fee is deducted from your benefit. If you wish to receive the main part of your benefit now, please complete this form and return it to the address stated on page 5. Alternatively, you may wait up to 180 days before withdrawing your benefit. In the meantime it will remain invested in your chosen investment option as part of the Retained Benefit Section of the Plan and earn the return (positive or negative) of that option. (Further information about the Retained Benefit Section is attached).

4 OPTION C Take some of my super as cash now, and save the rest Your Leaving Service Benefit Statement shows how much of your super you can take as cash now (the non-preserved part). If you are aged between 55 and 60 and you are permanently retiring from the workforce, you may be able to take all of your super as cash. Please check your statement before completing this section. Tell us how much you want to take as cash. OR Please pay to me: The maximum amount that I can take as cash (this will be paid to you less tax). $ (this will be paid to you less tax). Any cash payment will be drawn from your taxable and tax free components in proportion to your total benefit. If the amount you nominate is more than the maximum amount you can take in cash, you will only be paid the maximum cash amount available. Tell us what to do with the rest of your super. The rest of my super should be moved to: the Retained Benefit Section of the Fund (You may only use this option if you retain at least $10,000. The Leaving your super in the Plan notice shows more information about the Fund s Retained Benefit Section.) OR the rollover fund(s) I ve listed below If you want to move your super to more than one other fund, please photocopy this form and give us the details below for each of the other super funds. If your fund is a self-managed superannuation fund and its status on the ATO site ( is "Registered - status not determined", you will also need to provide either a certified copy of the letter from the ATO titled Your role as a trustee/director of a self-managed superannuation fund or a certified copy of your self-managed superannuation fund s Trust Deed (Please refer to Section 3 for document certification guidelines). Name of your chosen super fund: Address: Telephone No SFN or ABN of your chosen super fund: Your SPIN or member no in your chosen super fund: (Your chosen fund is able to give you this information and payment can not be made until it is received. The SFN is a 9 digit number, the ABN an 11 digit number and the SPIN a 9 digit number.) Cheque should be made payable to: (Your chosen fund will be able to give you this information.) Amount you want to put in this fund: remaining balance, or $ %

5 Section 3: Proof of Identity Are you a member now requesting part or all of your benefit to be paid in cash or rolled over to a Self Managed Superannuation Fund? Yes No If you have answered Yes to the above question you will need to provide the following proof of identity before we can pay your benefit. You need to provide certified copies of (please tick the items provided) One of the following documents only: Driver s licence issued under State or Territory Law Passport Or One of the following documents: One of the following documents: Birth certificate or birth AND Letter from Centrelink regarding a extract Government assistance payment Citizenship certificate issued by the Commonwealth Pension card issued by Centrelink that entitles the person to financial benefits. Notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example: o o Tax Office Notice of Assessment Rates notice from local council. Certification of Personal Documents All copied pages of original proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so. The following can certify copies of the originals as true and correct copies: A person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner, An agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public, An Australian Consular Officer or Australian Diplomatic Officer (within the meaning of the Consular Fees Act 1955), A Bailiff, A bank officer with two or more continuous years of service, A building society officer with two or more years of continuous service, A Chief Executive Officer of a Commonwealth court, A Clerk of a court, A Commissioner for Affidavits, A Commissioner for Declarations, A credit union officer with two or more years of continuous service, An employee of the Commonwealth who is: (a) In a country or place outside Australia; and (b) Authorised under paragraph 3 (c) of the Consular Fees Act 1955; and (c) Exercising his or her function in that place. A Fellow of the National Tax Accountants Association, A finance company officer with two or more years of continuous service, A holder of a statutory office not specified elsewhere in this list, A Judge of a court, A Justice of the Peace, A Magistrate, A Master of a court, A member of Chartered Secretaries Australia, A member of Engineers Australia, other than at the grade of student, A member of the Association of Taxation and Management Accountants,

6 An employee of the Australian Trade Commission who is: (a) In a country or place outside Australia; and (b) Authorised under paragraph 3 (d) of the Consular Fees Act 1955; and (c) Exercising his or her function in that place. A member of: (a) The Parliament of the Commonwealth; or (b) The Parliament of a State; or (c) A Territory legislature; or (d) A local government authority of a State or Territory. A Minister of religion registered under Subdivision A of Division 1 of Part IV of the Marriage Act 1961, A Notary Public, A permanent employee of the Australian Postal Corporation with two or more years of continuous service who is employed in an office supplying postal services to the public, A person before whom a Statutory Declaration may be made under the law of the State or Territory in which the Declaration is made, A Police Officer, A Registrar, or Deputy Registrar, of a court, A Sheriff, A Sheriff s officer, A member of the Institute of Chartered Accountants in Australia, the Australian Society of Certified Practising Accountants or the National Institute of Accountants, A senior executive service employee of: (a) The Commonwealth or a Commonwealth authority; or (b) A State or Territory or a State or Territory authority. A Marriage Celebrant registered under Subdivision C of Division 1 of Part IV of the Marriage Act 1961, A member of the Australian Defence Force who is: (a) An officer; or (b) A non-commissioned officer within the meaning of the Defence Force Discipline Act 1982 with two or more years of continuous service; or (c) A warrant officer within the meaning of that Act. A teacher employed on a full-time basis at a school or tertiary education institution, A member of the Australasian Institute of Mining and Metallurgy, An officer with, or authorised representative of, a holder of an Australian financial services licence, having two or more years of continuous service with one or more licensees, A licensed or registered Chiropractor, A licensed or registered Dentist, A licensed or registered Medical practitioner, A licensed or registered Nurse, A licensed or registered Optometrist, A licensed or registered Patent attorney, A licensed or registered Pharmacist, A licensed or registered Physiotherapist, A licensed or registered Psychologist, A licensed or registered Trademarks attorney, A licensed or registered Veterinary surgeon, and/or A permanent employee of: (a) The Commonwealth or a Commonwealth authority; or (b) A State or Territory or a State or Territory authority; or (c) A local government authority; with two or more years of continuous service who is not specified elsewhere in this list.

7 Section 4: Bank account details You only need to complete this section if you have requested payment of some or all of your benefit in cash and also wish to have this amount paid directly by electronic funds transfer into your bank account. If you chose this option please note that the account you nominate below must be in your name. You will need to provide a certified copy of the bank statement verifying the account details below. The same certification as outlined in Section 3 above is to be completed. Name of Account: BSB Number: Account Number: Section 5: Continuation Option Your Information for Members Leaving Service notice refers to an Insurance Continuation Option which is generally available for 30 to 60 days from the date you cease employment (please refer to your Information for Members Leaving Service notice for more details and to confirm how long this option is available for). If you would like more information about the continuation option, and a quotation, please indicate this by ticking the box below: Yes, I would like to receive an Insurance Continuation quotation: If you would like an Insurance Continuation quotation, please advise if you are a smoker: Yes No Section 6: Your signature I authorise the Trustee of the Fund to pay my superannuation benefit in the manner which I have instructed on this form. In completing this form, I confirm that I do not require any further information regarding my benefit entitlements. I understand that upon payment of my benefit from the Fund, the Trustee of the Fund is released from all further claims, liabilities and obligations whatsoever in relation to my interest in the Fund. Your signature Date All done? Then send this form back to us at: Oracle Superannuation Plan C/- Link Super Pty Limited PO Box 1442 Parramatta NSW 2124