EndeavourSuper ABN 26 065 719 853 Annual Report 30 June 2017 This Report forms part of your annual periodic statement and should be read in conjunction with your 30 June 2017 Annual Member Statement. Trustee and Issuer: Diversa Trustees Limited ABN 49 006 421 638 AFS Licence Number 235153 RSE Licence Number L0000635
About EndeavourSuper EndeavourSuper (the Plan ), a sub-plan of ISARF Superannuation Fund (ABN 26 065 719 853, RSE Registration R1073119) (ISARF) comprises of: Endeavour Employer Super, a branded sub-plan in the Employer Sponsored Division of ISARF, Endeavour Personal Super, a branded sub-plan in the Personal Super Division of ISARF, Endeavour Pensions, a branded sub-plan in the Pension Division of ISARF Investment Performance 2016/17 Financial Year Conservative Active Fund Conservative Passive Fund Balanced Passive Fund Balanced Active Fund Growth Passive Fund Growth Active Fund Diversified Aust. Residential Property Balanced Passive Fund - Pension Balanced Active Fund - Pension Growth Active Fund - Pension Returns are calculated net of relevant fees, costs and taxes. Closing Unit Price One year Return 1.0324 3.24% 1.0852 4.98% 1.1016 6.40% 1.0486 5.21% 1.1065 7.74% 1.0792 7.10% 0.6928-18.8% 1.1016 7.58% 1.0804 8.27% 1.1407 14.82% Inception Date June 2016 Dec 2015 Dec 2015 April 2016 Dec 2015 March 2016 Feb 2011 March 2016 May 2016 June 2016 PAST PERFORMANCE SHOULD NOT BE TAKEN AS AN INDICATOR OF FUTURE PERFORMANCE 1
Investment s & CONSERVATIVE PASSIVE FUND Low to Medium To achieve a net return (after taxes, fees, and charges are deducted) of 2.5% greater than CPI growth per annum. The probability of a negative return for this option is 1-2 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Cash, Enhanced Cash & Investment Grade Credit 15-35 32.7 27.5 Australian Fixed Interest 20-40 25.9 28.2 International Diversified Fixed Interest 15-30 18.5 19.8 Australian Equities 5-15 9.1 9.8 International Equities 5-15 9.8 10.5 Diversified Property & Infrastructure 0-10 4.0 4.2 Defensive Alternatives 0-10 0 0 Growth Alternatives 0-10 0 0 CONSERVATIVE ACTIVE FUND Low to Medium To achieve a net return (after taxes, fees, and charges are deducted) of 3% greater than CPI growth per annum. The probability of a negative return for this option is 1-2 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Cash, Enhanced Cash & Investment Grade Credit 15-35 32.8 27.5 Australian Fixed Interest 20-40 25.8 28.2 International Diversified Fixed Interest 10-25 18.5 16.2 Australian Equities 5-15 9.1 9.4 International Equities 5-15 9.8 10.9 Diversified Property & Infrastructure 0-10 4 4.2 Defensive Alternatives 0-10 0 3.6 2
Investment s & continued BALANCED PASSIVE FUND Medium To achieve a net return (after taxes, fees, and charges are deducted) of 3% greater than the CPI growth per annum. The probability of a negative return for this option is 3-4 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Asset Allocation * Range % Actual % 2016 Actual Cash, Enhanced Cash & Investment Grade Credit 0-25 -7.6 14.6 Australian Fixed Interest 15-25 23.1 18.3 International Diversified Fixed Interest 20-30 29.5 23.2 Australian Equities 10-30 22.9 18.2 International Equities 10-30 25.9 20.7 Diversified Property & Infrastructure 0-10 6.2 4.9 Defensive Alternatives 0-10 0 0 * Due to the volume of member transactions on 30 June 2017, the asset allocation for Cash, Enhanced Cash & Investment Grade Credit was out of range. The required liquidity to return this option to within range was completed post 30 June 2017. BALANCED ACTIVE FUND Medium To achieve a net return (after taxes, fees, and charges are deducted) of 3.5% greater than the CPI growth per annum. The probability of a negative return for this option is 3-4 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Cash, Enhanced Cash & Investment Grade Credit 10-25 18.9 14.6 Australian Fixed Interest 15-25 17.2 18.3 International Diversified Fixed Interest 10-25 17.8 23.3 Australian Equities 10-30 17.9 18.2 International Equities 10-30 19.2 20.7 Diversified Property & Infrastructure 0-10 4.7 4.9 Defensive Alternatives 0-10 4.3 0 3
Investment s & continued GROWTH PASSIVE FUND Medium to High To achieve a net return (after taxes, fees, and charges are deducted) of 3.5% greater than CPI growth per annum. The probability of a negative return for this option is 4-6 years in every 20 years. infrastructure funds, hedge funds, cash, Australian and international shares. Cash, Enhanced Cash & Investment Grade Credit 5-25 10.5 11.0 Australian Fixed Interest 5-15 9.5 9.6 International Diversified Fixed Interest 10-20 16.5 16.0 Australian Equities 20-40 27.4 27.4 International Equities 20-35 29.9 30.0 Diversified Property & Infrastructure 0-20 6.2 6.0 Defensive Alternatives 0-10 0 0 GROWTH ACTIVE FUND Medium to High To achieve a net return (after taxes, fees, and charges are deducted) of 4% greater than CPI growth per annum. The probability of a negative return for this option is 4-6 years in every 20 years. infrastructure funds, hedge funds, cash, Australian and international shares. Cash, Enhanced Cash & Investment Grade Credit 5-25 11.5 11.0 Australian Fixed Interest 5-15 9.4 9.6 International Diversified Fixed Interest 5-15 10.3 10.3 Australian Equities 20-40 26.6 27.0 International Equities 20-35 30.2 30.3 Diversified Property & Infrastructure 0-20 5.9 5.9 Defensive Alternatives 0-10 6.1 5.9 4
Investment s & continued DIVERSIFIED AUSTRALIAN RESIDENTIAL PROPERTY FUND Medium to High To achieve a gross return (before taxes, fees, and charges are deducted) of 4.5% greater than CPI growth over any five year period. The probability of a negative return for this option is 1 in 5 years. This option invests into the Residential Property Fund, which is a separate registered managed investment scheme that invests into a portfolio of residential investment properties Australia wide as well as maintaining some cash for liquidity purposes and operational purposes of the Fund. Cash 10 50 13.4 10.0 Residential Property 50 90 86.6 90.0 CONSERVATIVE PASSIVE FUND - PENSION Low to Medium To achieve a net return (after taxes, fees, and charges are deducted) of 2.5% greater than CPI growth per annum. The probability of a negative return for this option is 1-2 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Cash, Enhanced Cash & Investment Grade Credit 15-35 32.7 27.5 Australian Fixed Interest 20-40 25.9 28.2 International Diversified Fixed Interest 15-30 18.5 19.8 Australian Equities 5-15 9.1 9.8 International Equities 5-15 9.8 10.5 Diversified Property & Infrastructure 0-10 4.0 4.2 Defensive Alternatives 0-10 0 0 Growth Alternatives 0-10 0 0 5
Investment s & continued CONSERVATIVE ACTIVE FUND - PENSION Low to Medium To achieve a net return (after taxes, fees, and charges are deducted) of 3% greater than CPI growth per annum. The probability of a negative return for this option is 1-2 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Cash, Enhanced Cash & Investment Grade Credit 15-35 32.8 27.5 Australian Fixed Interest 20-40 25.8 28.2 International Diversified Fixed Interest 10-25 18.5 16.2 Australian Equities 5-15 9.1 9.4 International Equities 5-15 9.8 10.9 Diversified Property & Infrastructure 0-10 4 4.2 Defensive Alternatives 0-10 0 3.6 BALANCED PASSIVE FUND - PENSION Medium To achieve a net return (after taxes, fees, and charges are deducted) of 3% greater than the CPI growth per annum. The probability of a negative return for this option is 3-4 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Cash, Enhanced Cash & Investment Grade Credit 0-25 14.2 14.6 Australian Fixed Interest 15-25 18.4 18.3 International Diversified Fixed Interest 20-30 23.2 23.3 Australian Equities 10-30 18.5 18.2 International Equities 10-30 20.6 20.7 Diversified Property & Infrastructure 0-10 5.1 4.9 Defensive Alternatives 0-10 0.0 0 6
Investment s & continued BALANCED ACTIVE FUND - PENSION Medium To achieve a net return (after taxes, fees, and charges are deducted) of 3.5% greater than the CPI growth per annum. The probability of a negative return for this option is 3-4 years in every 20 years. infrastructure funds, hedge funds, cash, Australian & international shares. Asset Allocation* Range % Actual % 2016 Actual Cash, Enhanced Cash & Investment Grade Credit 10-25 -10.4 14.5 Australian Fixed Interest 15-25 24.4 18.4 International Diversified Fixed Interest 10-25 25.1 18.7 Australian Equities 10-30 23.6 18.6 International Equities 10-30 23.7 20.3 Diversified Property & Infrastructure 0-10 6.9 4.9 Defensive Alternatives 0-10 6.7 4.6 *Due to the volume of member transactions on 30 June 2017, the asset allocation for Cash, Enhanced Cash & Investment Grade Credit & International Diversified Fixed Interest was out of range. The required liquidity to return these options to within range was completed post 30 June 2017. GROWTH PASSIVE FUND - PENSION Medium to High To achieve a net return (after taxes, fees, and charges are deducted) of 3.5% greater than CPI growth per annum. The probability of a negative return for this option is 4-6 years in every 20 years. infrastructure funds, hedge funds, cash, Australian and international shares. Cash, Enhanced Cash & Investment Grade Credit 5-25 10.5 11.0 Australian Fixed Interest 5-15 9.5 9.6 International Diversified Fixed Interest 10-20 16.5 16.0 Australian Equities 20-40 27.4 27.4 International Equities 20-35 29.9 30.0 Diversified Property & Infrastructure 0-20 6.2 6.0 Defensive Alternatives 0-10 0 0 7
Investment s & continued GROWTH ACTIVE FUND - PENSION Medium to High To achieve a net return (after taxes, fees, and charges are deducted) of 4% greater than CPI growth per annum. The probability of a negative return for this option is 4-6 years in every 20 years. infrastructure funds, hedge funds, cash, Australian and international shares. Cash, Enhanced Cash & Investment Grade Credit 5-25 11.2 11.0 Australian Fixed Interest 5-15 9.6 9.6 International Diversified Fixed Interest 5-15 10.8 10.3 Australian Equities 20-40 28.1 26.9 International Equities 20-35 27.0 30.3 Diversified Property & Infrastructure 0-20 6.6 5.9 Defensive Alternatives 0-10 6.7 6.0 Asset Consultant The Trustee has appointed CPG Research & Advisory Pty Ltd (Level 3/23-25 O Connell Street, Sydney, NSW, 2000) as Asset Consultant to manage the investments of the Fund. 8
Financial Statements An abridged summary of the ISARF audited accounts for the year ended 30 June 2017 is shown below. The full audited accounts and auditor s report are available now by contacting the administrator on 1300 339 040. Statement of Financial Position 2017 2016 as at 30 June $ $ ASSETS Cash and cash equivalents 1,259,083 580,010 Investments 12,296,014 5,567,342 Receivables Distributions and dividends receivable 222,095 19,754 GST receivable 422 4,667 Other Assets Deferred tax assets 13,031 12,103 Total Assets 13,790,645 6,183,876 LIABILITIES Accounts payable and accrued expenses 68,751 21,077 Current tax liabilities 66,309 23,923 Total Liabilities excluding member benefits 135,060 45,000 NET ASSETS AVAILABLE FOR MEMBER BENEFITS 13,655,585 6,138,876 Member liabilities 13,601,046 6,106,204 TOTAL NET ASSETS 54,539 32,672 EQUITY Operational Risk Reserve 12,748 10,556 Unallocated Surplus 41,791 22,116 TOTAL EQUITY 54,539 32,672 9
Financial Statements continued Statement of Changes in Member Benefits 2017 2016 as at 30 June $ $ Opening balance of member benefits 6,106,204 4,028,369 Contributions Employer 627,129 222,140 Member 1,098,082 200,963 Government co-contribution 5,076 4,304 Transfers in 6,978,962 2,983,691 Income tax on contributions -94,150-33,388 Net after tax contributions 8,615,099 3,377,710 Benefits to members -1,367,453-1,221,100 Insurance premiums charged to members' accounts -23,463-13,658 Benefits allocated to members' accounts, comprising: Net investment income 435,973 49,330 Administration fees -181,278-82,544 Reserve transferred to/from members Operational risk reserve -2,192-7,887 Unallocated Surplus 18,156 24,016 Closing balance of member benefits 13,601,046 6,106,204 10
EndeavourSuper Investment Managers or Products Investments greater than 5% of ISARF s investment assets as at 30 June 2017 Holdings above 5% of total assets % $ Macquarie True Index Australian Fixed Interest Fund 11.8% 1,626,042 Magellan Global Fund Hedged 10.0% 1,378,335 Macquarie Diversified Equity Yield Fund 9.8% 1,347,703 Bennelong Concentrated Australian Equity Fund 8.8% 1,209,538 PIMCO EQT Wholesale Global Bond Fund 6.3% 863,818 Bentham Syndicated Loan Fund 6.0% 825,219 Investment managers with combined total above 5% Macquarie Investment Management 28.0% 3,858,507 Magellan 11.3% 1,564,613 Bennelong 10.4% 1,438,258 Total Assets 13,790,645 Use of Financial Derivatives The Trustee does not enter into derivative contracts. However, underlying investment managers may use derivative instruments to assist with the effective management of portfolio assets. Allocation of Earnings Net earnings, positive or negative, are fully allocated to the members account through changes in the unit price. Your account balance will vary on the basis of your balance at the beginning of the period, plus contributions or transfers received, less benefits and other deductions paid during the period, and allowing for the timing of each of those transactions. Market and economic conditions will have an impact on the earnings achieved by the Plan s investments and this flows through to changes in the unit price. Operational Risk Reserve (ORR) The ORR is a requirement of Prudential Standard SPS 114. This reserve is to specifically cover potential losses arising from operational risks that may affect the Plan s business operations. An operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. The ORFR may be drawn upon to assist in compensating members of the Plan in the event of an operational risk having materialised. The ORR came into place from November 2015. The Plan s ORR balance at 30 June 2017 was $12,748 (2016 $10,483), with an additional Trustee Capital of $25,000 also provided. The ORFR is currently invested in cash and Colonial First State Wholesale Institutional Cash Fund. 11
Legislation Update 1 July 2017 brought the most significant changes to superannuation legislation in a decade. The highlights of the key changes include: Changes in contribution caps Less than 49 years old Changes in concessional and non-concessional contribution caps Before 1 July 2017 $30,000 49 or older $35,000 From 1 July 2017 $25,000 The non-concessional (after tax) contribution caps have decreased since 1 July 2017 Before 1 July From 1 July 2017 2017 Each year $180,000 Using bring forward rule $540,000 $100,000 $300,000 Changes to the bring forward rule for the non concessional cap If you are under 65 years, you may make non-concessional contributions of up to three times the annual non-concessional contributions cap in a single year by bringing forward your non-concessional contributions cap for a two or three-year period. If eligible, you automatically gain access to future-year caps, and is known as the bring-forward arrangement. For the 2017-18 financial year, to access the bring-forward arrangement: you must be under age 65 years of age for at least one day during the triggering year (the first year) your total superannuation balance must be less than $1.5 million as at 30 June 2017 the remaining cap amount for years two and three of a bring forward arrangement will be reduced to nil for a financial year if your total super balance is greater than or equal to the general transfer cap of $1.6 million as at 30 June of the previous financial year. 12
Introduction of a total superannuation balance from 1 July 2017 The total superannuation balance was introduced as part of a new test to determine an individual s non-concessional contributions cap and bring forward period. Your total is essentially the total value of your accumulation and retirement phase interests including rollover amounts across all of your superannuation providers calculated as at 30 June of each financial year commencing 30 June 2017. It excludes any contributions made with the proceeds of a personal injury compensation payment. Your total super balance is relevant when working out your eligibility for the: unused concessional contributions cap carry-forward non-concessional contributions cap and the two or three year bring-forward period government co-contribution tax offset for spouse contributions. Your total super balance cap will be indexed annually. Where your super balance is greater than the general transfer balance cap of $1,600,000, you may be in excess of the non-concessional contributions cap after 1 July 2017. Members with a total super balance of $1,400,000 or more on 30 June 2017 will have restrictions on the amount that can be contributed to super. This includes: a reduced non-concessional contributions cap a shorter bring forward period the inability to make any contributions if your total super balance is over $1,600,000. Transitional rules apply if you have recently used the bring-forward cap; see your adviser for further information. Total super balance at Max. non-concessional Bring-forward period 30 June 2017 contributions cap for first year available Less than $1.4m $300,000 3 years $1.4m to less than $1.5m $200,000 2 years $1.5m to less than $1.6m $100,000 No bring-forward period, general concessional contribution cap applies Over $1.6m Nil N/A Introduction of a $1.6 million transfer balance cap from 1 July 2017 The transfer balance cap introduces a new limit on the amount of your accumulated super benefits that you can transfer or hold in retirement phase to support an income stream over the course of your lifetime. From 1 July 2017, the transfer balance cap will start at $1.6 million, and will be indexed in line with the consumer price index (CPI). However, the indexation will be based on the amount remaining of available cap space. The transfer balance cap does not include transition to retirement (TRR) accounts, and there is no limit on the amount you can have in your accumulation super accounts. The transfer balance cap works in a similar way to a bank account. Amounts transferred to the retirement phase give rise to a credit (an increase), and certain transfers out of the retirement phase give rise to a debit (a decrease) in your transfer balance account. So, you will be able to make multiple transfers into retirement phase accounts, as long as you have available cap space. After 1 July 2017, if your pension account(s) grow over time (through investment earnings to more than $1.6 million, you will not exceed your cap. However, if your pension accounts go down over time, you cannot top up, if you have already used your cap. Amounts in excess of the transfer balance cap need to be moved from the pension prior to 1 July 2017, however, the government has allowed transitional arrangements to minimise uncertainty. Should the transfer balance cap still be exceeded, the excess will have to be removed from the retirement phase pensions, and tax be paid on notional earnings on the excess amount. 13
There are different tax rules for those who have certain defined benefit or Term allocated income pensions, where you cannot transfer or remove excess amounts from the pension. Further information and guidance can be found on ato.gov.au, and/or consult a financial adviser regarding your situation. What counts towards your transfer balance cap? The combined value of all superannuation pension accounts held in retirement phase The value of other pensions or annuities must also be counted towards your cap, for example: - a superannuation pension you start to receive from a deceased spouse s superannuation account - a pension income you receive from a former spouse s superannuation pension as part of a family court settlement. Increase to spouse contribution tax offset threshold A tax offset of up to $540 may be available if you make a non-concessional contribution for your spouse. From 1 July 2017, your spouse s eligible income threshold increased, allowing more members to claim this tax offset. Up to 30 June 2017 From 1 July 2017 Total income of your spouse Tax offset available to you Up to $10,800 $540 $10,800 to $13,800 Up to $540 Over $13,800 nil Up to $37,000 $540 $37,000to $40,000 Up to $540 Over $40,000 nil Changes for low income earners Name change low income superannuation tax offset (LISTO) replaces low income superannuation contribution (LISC) There are no changes to the eligibilities or the operation of the scheme. To be eligible, your adjusted taxable income must be less than $37,000. The amount payable will be the lesser of 15 per cent of eligible contributions and $500. If you are a low income earner and have contributions paid into your superannuation fund, you do not need to do anything, your LISTO will be paid into your superannuation fund when you lodge a tax return. Co-contributions Co-contribution thresholds have been increased. The full co-contribution rate now applies to incomes up to $36,813 and the partial co-contribution to incomes up to $51,813. The government co-contribution is made automatically as long as the member has lodged a tax return for the financial year in which the voluntary contribution is made. Reduction in the income threshold for additional contributions tax (Division 293 Tax) For many higher income earners, an additional 15 per cent tax applies to certain concessional (beforetax) contributions, if your assessable income exceeds the legislative threshold. This threshold has been reduced from the current $300,000 to $250,000 from 1 July 2017. Your assessable income includes your total earnings, including pre-tax super contributions (employer and salary-sacrifice contributions and any personal deductible contributions). Changes to the taxation arrangements for transition to retirement income streams) Transition to retirement income streams (TRIS) were available to assist individuals to gradually move into retirement by accessing a limited amount of super. Prior to July 2017, where a member has commenced a TRIS, the superannuation fund receives tax free earnings on the superannuation assets that support it. From 1 July 2017, the government removed the tax exempt status of earnings from assets that support a TRIS. These earnings are taxed at 15 per cent, regardless of the date the TRIS commenced, the same as the members super accumulation account. 14
Capital gains tax relief is available where assets need to be moved from a non-taxed to a taxed environment to meet this requirement. A TRIS is not being counted towards an individual s transfer balance cap for the retirement phase. (Also refer to the section introduction of $1.6 million transfer balance cap.) Removal of death benefit anti-detriment payments The anti-detriment payment represents the refund of the 15 per cent contribution tax paid by the deceased member on super contributions over their working lifetime, and may be paid to an eligible dependant with a lump sum death benefit payment. The Government removed this provision from 1 July 2017. Anti-detriment payments are now only payable in respect of certain superannuation death benefit payments, where the member died before 1 July 2017 and the payment is made by 30 June 2019. CHANGES TO THE SUPER GUARANTEE (SG) Currently your employer is required to pay 9.50% based on your earnings to super. The SG rate will now remain at the current 9.50% until 30 June 2021 and then will gradually increase to 12% between 1 July 2021 and 1 July 2025. This is a summary only of some superannuation and taxation laws that impact superannuation contributions and benefits. It includes information arising from changes to legislation and proposed arrangements that may be applicable in 2017/18. These changes have been passed by both houses of Parliament and have now received royal assent. For further information about taxation go to www.ato.gov.au. The impact of these laws on you personally will depend on your personal situation. This information has been provided for general information purposed only. Special complex rules apply to certain amounts contributed to superannuation (e.g. amounts from overseas superannuation funds, personal injury settlements, proceeds from the sale of a small business, and employer termination payments). For information or advice about these amounts or, more generally, that takes into account your personal circumstances, you should contact your financial adviser. 15
Accessing Benefits Because superannuation is a long-term investment, the Commonwealth Government has placed restrictions on when you can gain access to benefits. Your benefit in the Plan comprises contributions, any transfers or rollovers, investment earnings (positive or negative) and the proceeds from any insurance claims (if applicable) for and on your behalf, less government charges and taxes, any insurance premiums, and fees and other costs. All contributions made by you or on your behalf since 1 July 1999, as well as investment earnings on those contributions, are required to be kept in the super system (or preserved ) until you satisfy a condition of release. The benefits that accumulated in superannuation prior to 1 July 1999 are divided into preserved and non-preserved components. Some non-preserved amounts are restricted and some are unrestricted. Unrestricted non-preserved amounts can be paid to you at any time from the Plan. Restricted non-preserved amounts can be withdrawn only when you have left your employment with an employer who has contributed to the Plan on your behalf. CONDITIONS OF RELEASE Preserved benefits can only be accessed as cash when you meet a condition of release, which generally includes any one of the following circumstances: you reach your preservation age that is less than 60 (see below) and ceased employment and the Trustee is reasonably satisfied that you do not intend ever again to become gainfully employed you reach age 60 and ceased employment and either of the following applies: o you attained age 60 on or before the ending of employment, or o the Trustee is reasonably satisfied that you do not intend ever again to become gainfully employed you reach age 65 the Trustee is satisfied that you suffer from permanent incapacity* you die* you have ceased gainful employment with your employer and your account balance is less than $200 you have a terminal medical condition* (in order to release your benefits, the Trustee requires medical reports from two practitioners, one of whom must be a relevant specialist, that certify that you are likely to die within 24 months) you qualify for an early release on the grounds of severe financial hardship or specified compassionate grounds* (in these circumstances only part of your benefit may be released, in most cases) you are a temporary resident permanently departing Australia* you attain preservation age and start a complying non-commutable income stream, or you comply with any other condition of release specified in government legislation. * Residents who hold temporary visas (except visas under subclasses 405 and 410) have restricted conditions of release. Benefits cannot be accessed unless they satisfy one of the specifically identified conditions of release. Please go to the ATO website at www.ato.gov.au for further information. 16
Accessing Benefits continued PRESERVATION AGE Your preservation age depends on your date of birth. Date of Birth Age Before 01 July 1960 55 01 July 1960 to 30 June 1961 56 01 July 1961 to 30 June 1962 57 01 July 1962 to 30 June 1963 58 01 July 1963 to 30 June 1964 59 After 01 July 1964 60 Eligible Rollover Fund (ERF) The Trustee of the Plan has a very broad power given to it by legislation, to transfer a member s benefits to another fund, called an Eligible Rollover Fund or ERF. The Trustee may transfer your superannuation benefit to the Plan s ERF if you become: an inactive member (that is, you joined the Plan more than two years ago, but in the last two years there have been no contributions or rollovers credited to your account), or a lost member (that is, two items of written communication from the Plan have been sent to your last known address and have been returned unclaimed); The Plan s ERF is: Super Money Eligible Rollover Fund ( SMERF ) PO Box A2499 Sydney South NSW 1235 Telephone: 1800 114 380 Being transferred to an ERF may affect your benefit because: You will cease to be a member of the Plan; Any insurance cover you had with the Plan will cease; You will become a member of SMERF and be subject to its governing rules. In the event that your benefit is transferred to the ERF, and the Plan can provide SMERF with your current contact details, SMERF will provide you with its current Product Disclosure Statement. The Trustee of the Plan also acts as the Trustee of SMERF. 17
Enquiries and Complaints The Trustee provides an enquiry and complaints service for members. Through this service, you may make a general enquiry about your superannuation benefits or the operation of the Plan as it relates to you, or make a complaint if you are dissatisfied about some aspect of your membership or benefits. Any enquiries or complaints should be addressed in the first instance to: Enquiries and Complaints Officer EndeavourSuper PO Box 1282 ALBURY NSW 2640 Telephone: 1300 339 040 The Trustee endeavor s to resolve all complaints through the internal complaints process. If your complaint is not resolved to your satisfaction by the Plan s internal procedures or you have not received a response within 90 days, you may have a right to lodge a complaint with the Superannuation Complaints Tribunal (SCT). The SCT is an independent body established by the Federal Government. SCT contact details are; Superannuation Complaints Tribunal Locked Bag 3060 GPO MELBOURNE, VIC 3001 Telephone: 1300 884 114 Privacy A copy of the Plan s privacy policy is available by contacting the Plan s Client Services Team. Disclaimer Diversa Trustees Limited, ABN 49 006 421 638, AFSL No 235153, RSE License No L0000635, is the Trustee of the Plan. The information provided in this report is given in good faith and believed to be accurate at the time of production. The information given in this document is of a general nature and has been prepared without taking into account your objectives, individual circumstances, financial situation, or particular investment needs. Before making any investment or other decision regarding your investments within the Plan, you should consult a financial adviser. 18
Who is Looking After You THE TRUSTEE Diversa Trustees Limited (ABN 49 006 421 638, AFSL No. 235153) is the Trustee of the Plan and is responsible for making sure the Plan is run in accordance with the Trust Deed and governing legislation. The Trustee works on members behalf to ensure the best possible management and performance by the Plan and the Trustee s first and foremost responsibility is to protect and advance the interests of the Plan s members. Diversa Trustees Limited is the issuer of this Annual Report. The directors of Diversa Trustees Limited at the end of the reporting period were: V. Plant (Chairperson), appointed 4 May 2017 K. Gibson, appointed 4 May 2017 M. Jones, appointed 1 September 2014 V. Parrott, appointed 1 September 2014 G. Wayling, appointed 4 May 2017 M. Cerché (Chairperson), appointed 1 September 2014, resigned 4 May 2017 L. Barrett, appointed 23 June 2016, resigned 4 May 2017 A. de Vries, appointed 1 September 2014, resigned 13 January 2017 The Trustee holds professional indemnity insurance to protect the Trustee, its directors and the Fund against certain losses or liabilities. The indemnity insurance cover is subject to the terms and conditions of the relevant insurance policy. THE ADMINISTRATOR The Trustee has appointed OneVue Super Services Pty Ltd (ABN 74 006 877 872) as the administrator of the Plan. Plan contact details are: Mail: EndeavourSuper PO Box 1282 ALBURY, NSW 2640 Telephone: 1300 339 040 Local call cost from anywhere within Australia. Extra charge if you use mobile or payphones Monday to Friday 9am to 5pm (EST) Email: Website: enquiries@endeavoursuper.com.au www.endeavoursuper.com.au 19
Directory SPONSOR: ISARF Pty Ltd ABN 25 138 673 962 Level 33, 50 Bridge Street SYDNEY NSW 2000 CUSTODIAN: RBC Investor Services Trust (RBC) ABN 75 116 809 824 Level 11, 2 Park Street SYDNEY NSW 2000 INSURER: Hannover Life Re of Australasia Ltd (Hannover) ABN 37 062 395 484 Level 7, 70 Phillip Street SYDNEY NSW 2000 20