MLC Super Fund Plum Super Plan Annual Report for the period starting 1 July 2016 and ending 30 June 2017 BHP Billiton Superannuation Fund (Plan) Preparation date 15 December 2017 Issued by NULIS Nominees (Australia) Limited (The Trustee) ABN 80 008 515 633 AFSL 236465 For MLC Super Fund (the Fund) ABN 70 732 426 024 1
Contents Welcome to the Plan Annual Report 3 Policy Committee 3 Plan benefits and allocation of earnings 3 Defined benefit assets 4 Financial position of defined benefit assets 4 Self-insurance reserve 4 The fund information for this Plan is contained in: the MLC Super Fund (Plum Super) Annual Report, prepared on 15 December 2017 and available by logging into your account online; and this Plan Annual Report. You should read both documents together. 2
Welcome to the Plan Annual Report We are pleased to provide you with this report for the BHP Billiton Superannuation Fund (Plan) (Plan). This report provides you with information specific to the Plan and forms part of the MLC Super Fund (Plum Super) Annual Report. You should read both documents together, since they both contain information that relates to all members of this Plan. If you have any questions after reading the MLC Super Fund (Plum Super) Annual Report or this Plan Annual Report, please contact us on 1300 55 7586 between 8am and 7pm AEST (8pm daylight savings time), Monday to Friday. Policy Committee The role of the Policy Committee is to raise matters of concern relating to the Plan. This includes providing an avenue for members to enquire about the Plan s investment strategy and performance, and helping us manage complaints or enquiries about the Plan s operation. Member-elected Mark Stevenson Livingstone Kahondo Alok Agarwal Employer-appointed Jill Buckle Rebecca Lane Zoe Wendelin We have a set of rules for the appointment and removal of employer and member representatives of the Policy Committee. These rules provide for equal representation of member and employer representatives. Member representatives are generally elected by members and are typically appointed for a period of three years. Employer representatives are appointed by the employers participating in the Plan for a period determined by those employers. In October 2017, Rebecca Lane was appointed as an Employer-appointed representative to replace Stuart Ackland. Plan benefits and allocation of earnings There are two types of members in the Plan - defined benefit membersand defined benefit pension members. Defined benefit members If you are a defined benefit member, at least part of your benefit is determined by a formula (generally based on your salary). Your defined benefit is funded by your employer and (in some cases) by your own personal contributions. You are not able to choose how your defined benefit is invested. If you have a defined benefit account, additional information regarding the allocation of earnings is contained in your Annual Statement. If your benefit also consists of an accumulation account, you may be able to choose how that part of your benefit is invested from the Plan s available investment options. See the accumulation members section above for more information on how your accumulation account works. Defined benefit pension members If you are a defined benefit pension member you do not have an account balance. Defined benefit pensions are paid at a rate according to a fixed formula, subject to indexing (where applicable) as determined by us on the advice of the Plan Actuary, and are payable for the rest of your life. If you are unsure about your type of superannuation benefit, please contact us on 1300 55 7586 or refer to your Annual Statement. 3
Defined benefit assets The Plan Actuary will determine the level at which your employer needs to contribute towards the funding of defined benefits. The assets supporting defined benefits exist to meet benefit payments, fees and insurance premiums in respect of defined benefits. The assets are invested in an investment strategy determined by us in consultation with your employer. If the Plan falls into an unsatisfactory financial position, the Trustee, Plan Actuary and employer(s) participating in the Plan will agree on a strategy to restore the Plan to a satisfactory position within 3 years. The strategy for the investment of the defined benefit assets supporting lump sum benefits is shown below. Option Proportion (%) BHP Billiton DB unit 100 The value of the assets supporting lump sum defined benefits at the end of the last financial year* is summarised below. Year ended 30 June Defined Benefit plan assets ($) 2017 $154,445,727.30 Financial position of defined benefit assets The financial position of the Plan at 30 June 2017 was in a satisfactory position. Self-insurance reserve A self-insurance reserve which is held with respect to the Plan exists within the MLC Super Fund (Self-insurance reserve). The Selfinsurance reserve may be used for the specific purpose of meeting defined benefit self-insured payments from the Plan and for any other purposes required by law. The Trustee, taking into account the advice of the Plan actuary, will formulate and regularly review the strategy for management of the Self-insurance reserve, giving consideration to the Trustee s capacity to discharge its liabilities as and when they fall due. The strategy for investment of the Self Insurance reserve is as follows: Option Proportion (%) BHP Billiton DB unit 100 The balance of the Self-insurance reserve at the end of the last financial year* is summarised below. Year ended 30 June Self-insurance reserve ($) 2017 $694,079.91 *The Self-insurance reserve within the MLC Super Fund was established on 1 July 2016. 4
Contact us For more information, call the Trustee from anywhere in Australia on 1300 55 7586. Postal address GPO Box 63 Melbourne VIC 3001 Registered office Ground Floor, MLC Building 105-153 Miller Street North Sydney NSW 2060 plum.com.au NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465. Part of the National Australia Bank Group of Companies. An investment with NULIS Nominees (Australia) Limited is not a deposit or liability of, and is not guaranteed by National Australia Bank Limited ABN 12 004 044 937 AFSL 230686 (NAB). NAB does not guarantee or otherwise accept any liability in respect of this product. PLUM0272 (12-17)