IAG & NRMA Superannuation Plan Leaving employment?

IAG & NRMA Superannuation Plan Leaving employment? STAY WITH THE PLAN When you re on a good thing make the most of it Getting the most from your super as a reserved member of the IAG & NRMA Superannuation Plan www.iagnrma.superfacts.com IAG & NRMA Plan Helpline: 1300 424 676

Just because you are leaving your employer, you don t need to leave the IAG & NRMA Superannuation Plan (Plan). Keeping your Plan membership If you leave your employer and have an accumulated benefit of at least $5,000, you ll automatically become a reserved member of the Plan, unless you tell the Trustee to transfer your super to another fund. If you have less than $5,000 in the Plan and don t tell the Trustee where to transfer your super within 90 days of receiving your benefit information from the Plan, your super will be transferred into the Plan s eligible rollover fund (ERF). The latest annual report gives more information about the Plan s ERF and can be downloaded from the Plan website, www.iagnrma.superfacts.com or you can call the Plan Helpline. As a reserved member, you can take advantage of these benefits: z Continue your death and total and permanent disablement insurance cover up to age 65 (some modified terms apply) including a $15,000 funeral expenses benefit to age 75 z Same competitive fees, premiums and charges as an Active member z Fast online access to your account information 24/7 z Dedicated Plan Helpline consultants to answer all your super questions z Access to the IAG & NRMA Superannuation Plan Retirement Income Stream products z Having only one super account and one set of fees, regardless of who you work for. Your new employer can pay all your super contributions (including your employer, salary sacrifice and personal super contributions) into your IAG & NRMA Superannuation Plan account. Online rollover To rollover other super moneys into your Plan account, simply complete an online rollover request on the Plan website www.iagnrma.superfacts.com You can have your new employer pay all your super contributions into the Plan. Contributions can include your employer and personal super contributions. Continue your super contributions in two easy steps It s an easy two step process to have your new employer pay your contributions into the IAG & NRMA Superannuation Plan. Simply: 1. Complete the Standard choice form, attached to this flyer 2. Give your employer the Making contributions to the Plan from External Employers information. Make personal contributions via further information., call the Plan Helpline for Keep informed To enable the Plan to continue to provide you with updates on your super, please ensure you provide the Plan with your current email address. About the IAG & NRMA Superannuation Plan As at 1 July 2016, the Plan has over 16,000 members and approximately $1.8 billion in funds under management. As a member, you know your super in the Plan is in good hands. Offering a great range of benefits, you can rely on us for as much or as little assistance as you want to help maximise your opportunities for a comfortable retirement whether 30 years away or just around the corner. 2

Benefits the IAG & NRMA Superannuation Plan gives you Fast access to information Our comprehensive member services include 24/7 website access, www.iagnrma.superfacts.com The site allows you to check your super benefit, change your investment strategy at any time, make personal voluntary contributions or change your nominated beneficiaries. You ll also find a wide range of tools and information; calculators; a library of super and wealth creation articles and planning tools to help you understand your super better. Call our Plan Helpline on 1300 424 676 to speak to one of our experienced Helpline consultants who can assist you with your super queries or they can refer you to a financial adviser. Competitive administration fees By keeping all your super within the IAG & NRMA Superannuation Plan, you ll pay only one flat weekly administration fee. The advantage of this is that your super could grow faster, as more of your super contributions go to building your retirement savings. Additionally, you don t pay any entry fees, or any commissions or adviser fees, so more of your money is working for you. Competitive management costs Lower fees overall can be particularly significant in the long term, so by continuing your membership in the Plan your fees stay the same as an Active member. Fees and costs are fully detailed in the Product Disclosure Statement available online at www.iagnrma.superfacts.com or by calling the Plan Helpline on 1300 424 676. Your investment choice You have a choice of six investment options and can choose any mix of options for your super. You can also change your investment choice at any time online or by calling the Plan Helpline. The Plan s performance over five years or more gives a good indication of how it has been performing. It is important to understand that past performance for each investment portfolio option should not be relied upon as indicative of future performance and does not guarantee future performance. Accumulation members If you were an accumulation member, as a reserved member your super will remain invested according to your existing investment choice. If you have not made a choice, your super is invested in the MySuper Option. Defined benefit members As a defined benefit member, your super is comprised of two parts. Firstly, your defined benefit component, which is crystallised on ceasing employment and then becomes an accumulation-style benefit. Secondly, you may have had additional accumulation style accounts payable on top of your defined benefit component. On transfer to the reserved category, the additional accumulation component of your benefit will remain invested according to your previous investment choice. If you haven t previously made an investment choice, then these accounts will be invested in the Cash investment option. Your defined benefit component was not previously subject to investment choice and has always been quarantined from the volatility of investment markets. Accordingly, the crystallised value of your defined benefit component will be invested in the Cash investment option until you make a new investment choice after transferring to the reserved category. See over the page for impacts on your insurance cover. 3

If you are less than 65, your death and total and permanent disablement insurance cover continues at a competitive rate Your death and total and permanent disablement insurance cover continues automatically when you become a reserved member. When you turn age 55, your cover reduces at a uniform rate on an adjustment date each month (this day depends on your birthday) so it is zero at the monthly adjustment date before you turn age 65. If you become a reserved member after age 55, but less than 65, your cover starts reducing at the first monthly adjustment date after you become a reserved member so it is zero at the monthly adjustment date before you turn age 65. The premiums for this cover will continue to be deducted from your super account. Your $15,000 funeral expenses benefit also continues until your 75th birthday. Any salary continuance cover you had will stop when you leave your employment and is not available to you as a reserved member. If you would like information about a continuation option with our insurer, simply call the Plan Helpline. If your insurance needs change and you d like more or less cover, you can request to change it at any time. Simply complete the Change of insurance cover form available on the Plan website. If you ask for an increase of cover you will need to show the insurer evidence of your good health before they agree to provide you with the extra cover. You will receive more information about providing health information when your request is received by the Plan. You can also stop your insurance cover at any time if you wish by completing and returning the Change of insurance cover form to the Plan. If you ask to stop your insurance cover, you may be able to reapply for it at a later time through the IAG & NRMA Superannuation Plan. You will need to provide evidence of good health before the insurer will agree to provide cover. See the Plan s Product Disclosure Statement, available on the Plan website, www.iagnrma.superfacts.com or contact the Plan Helpline on 1300 424 676 for more information, including the definition of total and permanent disablement for Reserved Members. Accessing your super You can make withdrawals from your reserved member account at any time, subject to the preservations rules applying to superannuation law. The Product Disclosure Statement gives details of the preservation rules or call the Plan Helpline. Retirement income streams If you have reached your preservation age, you have two options for regular retirement income in the IAG & NRMA Superannuation Plan. You can transfer all or part of your account to an income stream, transitioning gradually to retirement while continuing to work and drawing an income. Or receive an income stream after full retirement. Please read the Plan s Retirement Income Stream Product Disclosure Statement, available from the Plan website, for more information. Having your say member representative directors While you are not eligible to be nominated as a member representative director of the Plan as a reserved member, you are still able to nominate, second and vote for candidates who may stand for election. More information This brochure only provides an overview of the benefits and features you can enjoy as a reserved member of the IAG & NRMA Superannuation Plan. For full details, go to the Product Disclosure Statement, which is available from the Plan website www.iagnrma.superfacts.com or by calling the Plan Helpline on 1300 424 676 As a Plan member, you have access to limited financial advice (without charge) over the phone. Limited financial advice is provided by Mercer Financial Advice (Australia) Pty Ltd ABN 76 153 168 293 AFS Licence #411766. It does so by arrangement with the Trustee, but not on behalf of the Trustee. Simply call the Plan Helpline on 1300 424 676 to access this service. Additionally, if your needs prove beyond the scope of limited advice, Mercer can put you in touch with a licensed financial adviser who can give you personal financial advice. This brochure has been prepared by the Trustee for the benefit of members. The information contained in this brochure does not take account of the specific needs or objectives, 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. You should also read carefully the Plan s Product Disclosure Statement, which is available online at www.iagnrma.superfacts.com or by calling the Plan Helpline on 1300 424 676. 221239 - MMS - IAG & MRMA - Leaving Employment Brochure www.iagnrma.superfacts.com IAG & NRMA Plan Helpline: 1300 424 676 Issued by IAG & NRMA Superannuation Pty Limited ABN 77 000 300 934 AFS Licence #439233 as Trustee of the IAG & NRMA Superannuation Plan ABN 58 244 115 920 4

IAG & NRMA Superannuation Plan Making contributions to the Plan from external employers Non-participating employers are invited to contribute to the IAG & NRMA Superannuation Plan (the Plan) in respect of any employees who already have a membership of the Plan. You can make these contributions online using SuperPay or via superannuation clearing house using the Plan Details as below. Plan details for employers Name: IAG & NRMA Superannuation Plan ABN: 58 244 115 920 SFN: 1318 50949 RSE Licence L10001762 Introducing SuperPay To make it easy for you to make employer and member contributions, the Plan has introduced a web-based solution allowing employers of members in the Plan (Members) to electronically remit super contributions using our new BPAY facility called SuperPay. SuperPay is an online payment system which simplifies the process of remitting superannuation contributions on behalf of Members. A history of electronic transactions is recorded to help you keep track of contributions you have made for Members. Registration is simple 1. On your first visit you will need to register as an employer. To do this select the Register as a new user link. You ll then need to read and accept the terms and conditions before proceeding. 2. Enter your business details on the Employer registration page. Once you hit submit, an email will be automatically sent to your email address, confirming your registration details for future visits. You ll now be able to sign in to the site. Making contributions 1. After signing in, your first step will be to access Member list from the top navigation menu, and proceed to add the member details for any employees who are Members. Required details include surname and IAG & NRMA Superannuation Plan member number. NOTE THESE MEMBER DETAILS WILL AUTOMATICALLY REAPPEAR NEXT TIME YOU LOG ON, MAKING IT EASIER TO REMIT FUTURE CONTRIBUTIONS. 2. Enter the contribution details for each Member. Superannuation Guarantee, voluntary pre-tax (i.e. salary sacrifice) and voluntary post-tax (i.e. personal) contributions are all covered. 3. Select Submit. If you are happy with the summary provided, select Confirm details. A BPAY Biller Code and Reference Number will then be generated. PLEASE NOTE THE REFERENCE NUMBER CHANGES FOR EACH CONTRIBUTIONS BATCH YOU SUBMIT. 4. Access your online banking or phone banking service and follow the prompts to make a bill payment (using the Biller Code and Reference Number generated above). To ensure that these contributions are credited promptly to your employees super accounts it is essential that you use the correct reference number for each contribution batch. It s that easy! SuperPay is an easy way to assist your employeesʼ financial welfare For more information on this service, call 1300 550 423 (9.00am to 5.00pm AEST, national business days) or email SuperPay@mercer.com Issued by IAG & NRMA Superannuation Pty Limited ABN 77 000 300 934 as Trustee for IAG & NRMA Superannuation Plan ABN 58 244 115 920

This page has been left intentionally blank

Superannuation Standard choice form For use by employers when offering employees a choice of fund and by employees to advise their employer of their chosen fund. Section A: Employee to complete 1 Choice of superannuation (super) fund I request that all my future super contributions be paid to: (place an X in one of the boxes below) The APRA fund or retirement savings account (RSA) I nominate Complete items 2, 3 and 5 2 Your details Name Employee identification number (if applicable) Tax file number (TFN) The self managed super fund (SMSF) I nominate Complete items 2, 4 and 5 The super fund nominated by my employer (in section B) Complete items 2 and 5 You do not have to quote your TFN but if you do not provide it, your contributions may be taxed at a higher rate. Your TFN also helps you keep track of your super and allows you to make personal contributions to your fund. 3 Nominating your APRA fund or RSA You will need current details from your APRA regulated fund or RSA to complete this item. Fund ABN Fund name Fund address 5 8 2 4 4 1 1 5 9 2 0 IAG & NRMA SUPERANNUATION PLAN GPO Box 4303 Suburb/town State/territory Postcode Melbourne V I C 3 0 0 1 Fund phone 1 3 0 0 4 2 4 6 7 6 Unique superannuation identifier (USI) Your account name (if applicable) 5 8 2 4 4 1 1 5 9 2 0 0 0 2 Your member number (if applicable) Required documentation You need to attach a letter from your fund stating that they are a complying fund and that they will accept contributions from your employer. Correct information about your super fund is needed for your employer to pay super contributions. NAT 13080 08.2014 Sensitive (when completed) Page 1

4 Nominating your self-managed super fund (SMSF) You will need current details from your SMSF trustee to complete this item. Fund ABN Fund name Fund address Suburb/town State/territory Postcode Fund phone Fund electronic service address (ESA) Fund bank account BSB code (please include all six numbers) Account number Required documentation You need to attach a document confirming the SMSF is an ATO regulated super fund. You can locate and print a copy of the compliance status for your SMSF by searching using the ABN or fund name in the Super Fund Lookup service at http://superfundlookup.gov.au/ If you are the trustee, or a director of the corporate trustee you can confirm that your SMSF will accept contributions from your employer by making the following declaration (place an X in the box below): I am the trustee, or a director of the corporate trustee of the SMSF and I declare that the SMSF will accept contributions from my employer. If you are not the trustee, or a director of the corporate trustee of the SMSF, then you must attach a letter from the trustee confirming that the fund will accept contributions from your employer. 5 Signature and date If you have nominated your own fund in Item 3 or 4, check that you have attached the required documentation and then place an X in the box below. I have attached the relevant documentation. Signature Date Day Month Year Return the completed form to your employer as soon as possible. Print form Reset form

Section B: Employer to complete You must complete this section before giving the form to an employee who is eligible to choose the super fund into which you pay their super contributions. Sign and date the form when you give it to your employee. 6 Your details Business name ABN Signature Date Day Month Year 7 Your nominated super fund If the employee does not choose their own super fund, you are required to pay super contributions on their behalf to the fund that you have nominated below: Super fund name Unique superannuation identifier (USI) Phone (for the product disclosure statement for this fund) Super fund website address Section C: Employer to complete Complete this section when your employee returns the form to you with section A completed. 8 Record of choice acceptance In the two months after you receive the form from your employee you can make super contributions to either the fund you nominated or the fund the employee nominated. After the two month period you must make payments to the fund chosen by the employee. If you don t meet your obligations, including paying your employee superannuation contributions to the correct fund, you may face penalties. Date employee s choice is received Day Month Year Date you act on your employee s choice Day Month Year Employers must keep the completed form for their own record for five years. Do not send it to the Australian Taxation Office, the employer s nominated fund or the employee s nominated fund. PRIVACY STATEMENT The ATO does not collect this information; we provide this form as a means for employees to identify and provide necessary information to their employer. An employer is authorised to collect an employee s TFN under the Superannuation Industry (Supervision) Act 1993. It is not an offence for an employee not to quote their TFN. However, quoting a TFN reduces the risk of administrative errors and if the employee does not quote their TFN their contributions may be taxed at a higher rate. An employee can get more details regarding their privacy rights by contacting their superannuation fund. Print form Reset form Sensitive (when completed) Page 3

To Whom It May Concern Transfer to IAG & NRMA Superannuation Plan Plan ABN: 58 244 115 920 The Trustees of the IAG & NRMA Superannuation Plan confirm that: The IAG & NRMA Superannuation Plan falls within the definition of a Regulated Superannuation Fund as contained in the Superannuation Industry (Supervision) Act The SFN of the Plan is 131 850 949 The ABN of the Plan is 58 244 115 920 The RSE Licence No is L0001762 The RSE Registration No is R1004687 The AFS Licence No is 439233 The USI No is 58 244 115 920 002 The Trust Deed allows for benefits to be transferred into the Plan (including overseas pensions) and it sets no minimum limit that may be rolled over into the Plan. Any rollover cheque should be made payable to: IAG & NRMA Superannuationn Plan Account of [member s name] Any rollover cheque should be sent to: IAG & NRMA Superannuation Plan GPO Box 4303 Melbourne VIC 3001 Members may direct external employer contributions to the Plan. If you have any questions, please do not hesitate to contact our office on 1300 424 676. Yours sincerely, Troy Maguire Senior Manager, Superannuation 221239 - MMS - IAG & MRMA - Leaving Employment Brochure 2