AMP Eligible Rollover Fund Product Disclosure Statement

Transcription

1 AMP Eligible Rollover Fund Product Disclosure Statement Issued 30 June 2014 Contents 1. About AMP Eligible Rollover Fund 2. How super works 3. Benefits of investing with AMP Eligible Rollover Fund 4. Risks of super 5. How we invest your money 6. Fees and costs 7. How super is taxed 8. How to open an account 9. Other information This Product Disclosure Statement (PDS) is a summary of significant information and contains a number of references to important information in the Fact sheet which forms part of this PDS. You should consider the information in the PDS and Fact sheet before making a decision about AMP Eligible Rollover Fund. Information in the PDS may change from time to time. We may update information that is not materially adverse to you by way of a PDS Update. However, if the change to the information is materially adverse, we will issue a new PDS. You can obtain this updated information free of charge by visiting amp.com.au/erf, by calling us on or from your financial planner. The information provided in this PDS is general information only and does not take into account your personal financial situation or needs. You should obtain financial advice tailored to your personal circumstances. Issued by AMP Superannuation Limited ABN , AFSL No , the Trustee of AMP Eligible Rollover Fund ABN Registered trademark of AMP Limited ABN About AMP Eligible Rollover Fund AMP Eligible Rollover Fund receives small, lost and inactive super accounts transferred by other super funds, approved deposit funds, retirement savings accounts and in some circumstances certain super payments from the Australian Taxation Office (ATO). Super funds are permitted to transfer accounts to an eligible rollover fund (ERF) like AMP Eligible Rollover Fund without the member s prior consent. Often super funds transfer accounts to an ERF if they have lost track of a member due to the following reasons: change of address change of name or job no recent contributions, or a small account balance. AMP Eligible Rollover Fund is not like other super accounts in that it is unable to accept: employer (concessional) contributions spouse contributions contributions made through a salary sacrificing arrangement, or government co-contributions. The Trustee of AMP Eligible Rollover Fund and issuer of this PDS and the Fact sheet is AMP Superannuation Limited and throughout this PDS is referred to as the Trustee, we, us or our. AMP Eligible Rollover Fund is also referred to as the Fund. Information about the Fund and the Trustee, including its executive officers, can be found at amp.com.au/trusteedetails. AMP Eligible Rollover Fund invests in a capital guaranteed life insurance policy (the Policy) issued to us by AMP Life Limited (AMP Life). We are the owner of the Policy and under the Policy AMP Life guarantees to us the full value of members benefits. AMP Capital Investment Limited (AMP Capital) ABN , AFSL No , is the investment manager appointed by AMP Life, and the responsible entity for many managed investment schemes that AMP Life invests in. Under these managed investment schemes, AMP Capital appoints either itself and/or companies outside of the AMP group to be the investment manager(s).

2 2 AMP Capital and AMP Life are subsidiaries of AMP Limited and are therefore companies related to us. 2. How super works Super is a long-term investment and a tax-effective way of saving for your retirement. Putting in place a suitable strategy for your super can increase the likelihood of you doing what you want to when you retire. If you are employed, your employer is required to make regular super contributions on your behalf, which are referred to as Superannuation Guarantee (SG) contributions. You usually have the right to choose the fund into which your SG contributions are paid. In addition to the SG contributions, there are also a number of different types of contributions that can be made to super. These include personal (before and after tax) voluntary contributions and government co-contributions, all of which have certain limitations on the amounts that can be contributed. If you exceed these limits in a financial year you will incur additional tax. Your super savings are taxed at concessional rates. However, the government has placed a number of restrictions on your ability to access and withdraw your super savings. You should read the important information about How super works before making a decision. Go to the Fact sheet available at amp.com.au/erf. The material relating to How super works may change between the time when you read this statement and the day when you acquire the product. 3. Benefits of investing with AMP Eligible Rollover Fund AMP Eligible Rollover Fund s purpose is to be a temporary repository for amounts transferred to the Fund from other regulated super funds. AMP Eligible Rollover Fund not only preserves your investment, but undertakes many activities to assist in locating any lost super you may have so that you can consolidate all your accounts (including your AMP Eligible Rollover Fund account) into your active super account. Your money will be invested in a single diversified investment strategy and we guarantee that the crediting rate will not be negative. When you become a member we will send you a welcome letter which includes details of your AMP Eligible Rollover Fund account along with a copy of this PDS. Each year you will receive an annual statement detailing the activity on your account and the balance of your account at 30 June. Additionally, you will have access to the Trustee s Annual Report by downloading it from our website amp.com.au/edocs. If you would like a copy mailed to you, you can request this by calling Lost super We are committed to reuniting members with their super, so we: assist members in finding their lost super through links to the Super Seeker Service maintained by the ATO and provide a rollover service to help members consolidate their super into their active super account engage an external data management service to seek up-to-date contact details for members, after contact has been lost following the receipt of returned mail periodically identify multiple accounts for members by looking for matches within the AMP Eligible Rollover Fund and consolidating those accounts periodically identify multiple accounts for members by looking for matches across AMP funds and facilitate a member s decision to consolidate inactive accounts into an active super account. If you think you may have lost track of some of your super, we can conduct a lost super search on your behalf. To conduct a lost super search, we will send personal information such as your full name, date of birth, address and tax file number (TFN) (if held) to the ATO. If any lost super is found for you, we will send you a letter with the relevant information asking you consolidate these accounts into an active super account. If no match is made, we will not contact you. If you would like to opt out of this feature, please let us know by or phone. If ing askamp@amp.com.au please use the title Opt out SuperSearch and provide your full name and account number. Consolidation of multiple accounts Government legislation requires the trustee to identify members with multiple accounts within a fund. Where they reasonably determine that it is in the best interest of the member, these accounts will be consolidated. Members may be provided the opportunity to not consolidate their accounts and where they choose so the consolidation will not occur. Members with multiple accounts will be identified and reviewed on an annual basis. Super consolidation service You can use our online super consolidation service, which makes consolidation easy by doing most of the paperwork for you and contacting your existing super funds to make sure your super is where you want it. You can request to consolidate your super online at amp.com.au/consolidate or by calling our Customer Service Centre on Important: Before consolidating, you need to consider how your existing super accounts compare, what effect consolidation will have on any insurance cover and whether any exit fees apply. If you are unsure, speak with your financial planner or contact AMP. 4. Risks of super Super is a type of investment and all investments carry a degree of risk, for example: the value of your investment may go up and down investment returns can vary and future returns may be different to past returns

3 investment returns are not guaranteed and you may lose some of your money global and domestic economic conditions may impact the returns of various asset classes. Investment risk commonly refers to the degree of potential volatility or fluctuation in the value of an asset or class of assets, including the possibility of negative returns. Returns and risk vary between different types of assets and investment strategies. However, all investments have some risk, and the greater the expected long-term return, the greater the expected short-term risk. By investing across a number of different asset classes, such as shares, property and cash, super funds aim to diversify the risk associated with their investment. Changing the relative weightings for each asset class will change the risk profile. In addition to investment risk there are also other risks associated with your investment in super, for example: change in super or tax law may affect how and when you can access your super the amount of super savings you have may not be enough to provide adequately for your retirement. The level of investment risk that you are comfortable with will depend on a number of factors, including your investment goals, your age, your investment timeframe, your risk tolerance and the nature of any non-super assets you have invested. 5. How we invest your money The Fund invests in a capital guaranteed life insurance policy, which means that your investment return cannot be negative. The Policy issued to us by AMP Life is a participating policy in AMP Life s No.1 Statutory Fund. Participating policies are administered in accordance with the Life Insurance Act 1995 and the Insurance Contracts Act Under these Acts, an annual profit is determined for each class of participating policies and shared between the policy owner (us) and the life company (AMP Life). At least 80% of that profit must be allocated to the participating policy owner(s). Currently for AMP Eligible Rollover Fund, 92.5% of the annual profit is allocated to the policy owner (us) and 7.5% is allocated to AMP Life. The Fund s declared crediting rates are a distribution of our profit to members. Crediting rates Crediting rates are determined in advance and may increase or decrease at any time without notice. The amount credited to your account depends on the size of your account balance and is calculated based on your daily balance and credited annually (on 30 June) or upon earlier withdrawal. Under the Policy, crediting rates are declared following a review based on: recent investment returns within AMP Life s No. 1 Statutory Fund an allowance for management costs, taxes, transaction and operational costs, and an assessment of future investment returns. The review allows AMP Life to ensure that it can continue to fund its guarantee from its statutory fund reserves. Crediting rates can be zero but will not be negative and any changes to crediting rates affect your account from the date of the change to the crediting rate. Any interest accrued on your account to date is not affected by any future changes to crediting rates. AMP Eligible Rollover Fund investment option Investment objectives and strategy Investor profile Strategic asset allocation Minimum suggested timeframe for investment Standard Risk Measure Standard Risk Measure To provide a single diversified investment with capital protection by investing in a core portfolio of cash and fixed interest, with limited exposure to equities and alternative investments. Changes to investment allocations, including the use of derivatives, can be made according to the outlook for the various investment sectors and the nature of the investment. The AMP Eligible Rollover Fund may only accept rollovers and transfers from other superannuation funds or retirement savings account providers. It is a complying eligible rollover fund under the Superannuation (Industry) Supervision Act The AMP Eligible Rollover Fund utilises a crediting rate process which provides a more smoothed investment return over time, removing some of the volatility of returns typical of the underlying asset mix. Fixed interest and Cash 80% 100% Shares and Alternative investments 0% 20% No minimum 1/ Very Low The Standard Risk Measure (SRM) is based on industry guidance to allow you to compare investment options that are expected to deliver a similar number of negative annual returns over any 20-year period. The table below sets out the SRM bands and labels used for an investment option based on the estimated number of negative annual returns that an investment option may experience over any 20-year period. Negative annual returns may not occur in consecutive years. Risk band Risk label Estimated number of negative annual returns over any 20-year period 1 Very Low Less than Low 0.5 to less than 1 3 Low to Medium 1 to less than 2 4 Medium 2 to less than 3 5 Medium to High 3 to less than 4 6 High 4 to less than 6 7 Very High 6 or greater 3

4 As an example, investment options with a risk label of 1/ Very Low may experience less than 0.5 years of negative annual returns over any 20-year period. The SRM is not a complete assessment of all forms of investment risk and does not replace the need for other considerations when constructing an investment portfolio. For instance, it does not detail what the size of a negative return could be or the potential for a possible return to be less than you may require to meet your objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return. The SRM is not a comprehensive account of the risks of investing and you should read these risk labels in conjunction with the different risks of investing described earlier. You should still ensure that you consider the likely investment return and your investment time frame and that you are comfortable with the risks and potential losses associated with your investment option. Note however, that there is only one investment option available to you in AMP Eligible Rollover Fund. Any significant changes to market conditions may alter the SRM from time to time. For further information on the methodology used to establish the SRM, please go to amp.com.au. The use of derivatives We do not invest in derivatives. The underlying investment managers may use derivatives such as options, futures, swaps or forward exchange rate agreements. The use of derivatives by investment managers is in accordance with the guidelines of the investment strategy, the objectives of the investment option and the relevant risk management practices on the use of derivatives. Derivatives can be used for many purposes, including hedging to protect an asset against market fluctuations, reducing the transaction costs of achieving a desired market exposure, and maintaining asset allocation. Environmental and socially responsible considerations Unless specially stated, neither AMP Capital nor any of the underlying investment managers actively takes into account labour standards, environmental, social or ethical considerations in relation to the investment decision making. They may, however, take into account these considerations if they become aware of them, but only to the extent that they financially affect the investments. The primary focus of AMP Capital and the investment managers in relation to these options is on economic and financial outcomes. 6. Fees and costs Did you know? Small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30-year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. You may be able to negotiate to pay lower contribution fees and management costs where applicable. Ask the fund or your financial planner. To find out more If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (moneysmart.gov.au) has a superannuation fee calculator to help you check out different fee options. The following table shows the fees and other costs for AMP Eligible Rollover Fund. The table can be used to compare the costs of different super products. These fees and costs can be paid directly from your account, from the returns on your investment or from the Fund assets as a whole. Type of fee or cost Amount Fees when you money moves in or out of the Fund Establishment fee Contribution fee Withdrawal fee Termination fee Management costs (i)(ii) The fees and costs for managing your investment Account Balances ($) Gross of tax (% pa) Net of tax (% pa) ,000 2, ,500 9, ,000 49, , Plus Performance fees of: Performance fees are paid for up to 20% of the outperformance relative to an agreed benchmark or target across the asset sectors. Performance fees are calculated on the outperformance of each asset sector separately and fees will be paid regardless of whether the overall fund underperforms. The actual amount for the year to December 2013 was: Gross of tax (% pa) Net of tax (% pa) (i) The costs are based on the actual Fund costs for the year to 31 December For further information on management costs and what is charged, refer to the Fees and other costs section in the Fact sheet. (ii) The costs are reflected in tiers which vary depending on the size of your account balance.

5 Example of annual fees and costs for AMP Eligible Rollover Fund This table gives an example of how the fees and costs in AMP Eligible Rollover Fund can affect your super investment over a 12-month period. You should use this table to compare this product with other super products. Example Contribution fee Plus Management costs Equals Cost of fund Balances of $50,000 with total contributions of $5,000 (i) during the year For every $5,000 put in, you will be charged $ % (ii) And, for every $50,000 you will have in the account you will be charged $740 (iii) each year. If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of $740 (iii). (i) The contribution of $5,000 is assumed to be deposited to your account at the end of the year. Please note that AMP Eligible Rollover Fund cannot accept employer or personal contributions, including government co-contributions. (ii) The total management costs of 1.48% above (which includes investment management costs of 1.35% and performance fees of 0.13%) is for the 12-month period ending 31 December (iii) The amount of tax deductible fees and costs you actually pay is reduced by 15% to allow for the benefit of the tax deductions passed on to you. The amount you actually pay is $629. Note however, this is not an actual deduction from your account but incurred prior to the declaration of the net crediting rate. Changing the fees We can introduce new fees or change existing fees at any time, however, we must provide you with at least 30 days notice. New fees can be charged or existing fees changed if: AMP Life changes its fees under the super policy we hold, or permitted by law. In this product, fees and costs are ultimately reflected in the crediting rates. The crediting rates can change at any time without prior notice to you. The current crediting rates can be found at amp.com.au/erf/creditingrates. In addition, we may introduce or increase fees at our discretion, as may AMP Life, for any one or more of the following reasons: if increased charges are incurred due to government changes to legislation increased costs significant changes to economic conditions, or the imposition or increase of processing charges by third parties. 7. How super is taxed Below is a summary of how super is taxed. However, as taxation of super is complex we recommend you obtain professional tax advice that takes into account your own personal circumstances. Note that the information provided in this section is for your information. AMP Eligible Rollover Fund does not accept personal or employer contributions. Contributions tax AMP Eligible Rollover Fund can accept payments from the ATO in the form of SG shortfall payments and employer payments previously made to its Superannuation Holding Accounts (SHA) special account which are taxed at a rate of up to 15% (which is known as contributions tax ). Contributions tax is paid quarterly to the ATO. We will deduct this tax from your account quarterly or on earlier withdrawal. Contribution limits For both types of contributions mentioned above, the government has set limits on the amounts that can be added to super. If these limits are exceeded you will pay additional tax on the excess contributions. For before-tax contributions that exceed the limits you will be taxed at your marginal rates (plus the Medicare levy) on the amounts in excess of these limits. Additionally, any concessional contribution that exceeds the concessional contribution limits will be counted towards your nonconcessional limit. The ATO also applies interest to the excess calculated from 1 July in the year that the contributions are made. High income earners on an adjusted income above $300,000 pay a 15% extra tax on before-tax contributions. Please refer to your financial planner if you would like further information or call our Customer Service Centre on For after-tax contributions that exceed the limits you will be taxed at the top marginal rate (plus Medicare levy) on the amounts in excess of these limits. Investment earnings tax Earnings on your net investment in AMP Eligible Rollover Fund are taxed at a maximum rate of 15%. This tax is deducted before we declare the net crediting rates (that is, crediting rates are net of this tax). You should read the important information about Fees and other costs before making a decision. Go to the Fact sheet available at amp.com.au/erf. The material relating to Fees and other costs may change between the time when you read this statement and the day when you acquire the product. 5

6 Tax on withdrawals All super benefits received by you on or after age 60 are tax free. If you are under age 60, you may have to pay tax on the taxable component of your withdrawal benefit when you withdraw money from the Fund. The amount paid will depend on your own circumstances, including your age, as follows: Age Component Tax treatment Aged 60 and over Tax free Taxable taxed element Aged between Tax free 55 to 59 (i) Taxable taxed element Aged less Tax free than 55 (i) Taxable taxed element No tax payable First $185,000 (ii) is tax free The rest is taxed at 15% (plus Medicare levy) Taxed at 20% (plus Medicare levy) (i) This age is calculated by reference to preservation age and is higher than 55 years for those born after 1 July Please refer to the table on page 2 of the Fact sheet for your preservation age. (ii) This is the low-rate cap amount for the 2014/15 financial year. You are only allowed one low-rate cap amount regardless of how many funds you are invested in and whether they are taxed or untaxed. The lowrate cap amount may be reduced by previous lump-sum withdrawals of tax-free amounts. The low-rate cap amount is indexed annually in accordance with average weekly ordinary time earnings. If you are rolling your benefit over to another super fund no lump-sum tax is payable. Super lump-sum withdrawal less than $200 If you withdraw your entire super as a lump sum you will receive it tax free provided: you are a lost member who has subsequently found their super, and the entire amount of the benefit is less than $200 and results in a closure of your account. Note: Super funds are required to transfer certain lost accounts to the ATO. Former holders of these accounts will still be able to reclaim their money from the ATO at any time. TFN notification It is important that you provide us with your TFN to ensure you do not pay additional tax on your super benefits. Whilst it is not a legal requirement to provide your TFN, there are consequences of not doing so, for example, any withdrawal benefits will be taxed at the highest marginal rate (plus Medicare levy). Under the law we are authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. We may disclose your TFN to another super provider when your benefits are being transferred, unless you instruct us in writing that your TFN not be disclosed to any other super provider. However, providing your TFN will have the following advantages (which may not otherwise apply): your super fund will be able to accept all types of contributions to your account(s) (Note AMP Eligible Rollover Fund does not accept contributions apart from SG shortfall or SHA contributions from the ATO) the tax on contributions to your super account(s) will not increase other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your super benefits, and it will make it much easier to trace different super accounts in your name so that you can consolidate and maximise your super benefits for retirement. When your previous super fund transferred your benefit to AMP Eligible Rollover Fund, they may have provided your TFN to us unless you instructed them not to. If that fund did not have your TFN and you have not provided it to us, you can notify us of it by calling our Customer Service Centre on Excess contributions taxes If you exceed the maximum amount of contributions (called caps) set by the government in any financial year for a person your age, you may be required to pay an excess contributions tax of up to 49% on the excess amount. Please note that we do not monitor super contributions made to your account against the caps. If this occurs, the ATO will issue you with an assessment and a choice on how to pay the tax. This tax may, or in some circumstances must, be paid from your account balance. The Federal Government has foreshadowed changes to this system, including methods to refund excess contributions. These measures have not yet been enacted. The Government is proposing to introduce a temporary budget repair levy which may raise the top marginal tax rate and impact a number of tax rates that are aligned to the top marginal tax rate. However, these changes have not yet been made law. Please visit treasury.gov.au for further information. 6

7 8. How to open an account Generally, you will have become a member of AMP Eligible Rollover Fund as a result of your super being automatically transferred from another super fund. This may have occurred because your previous fund lost track of your address, no contributions were received into your account over a period of time, or you left employment and were no longer eligible to remain in your employer s super fund. Super funds are permitted to transfer a member s benefit to an ERF without the member s consent provided certain conditions outlined in the law are met. Cooling-off period Cooling-off rights do not apply if you are issued an interest in AMP Eligible Rollover Fund due to your benefits in another fund being transferred to AMP Eligible Rollover Fund. Anti-Money laundering and counter terrorism financing To protect your money and to comply with legislative requirements (such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006) we will need on occasion to verify your identity. This means that we may need to obtain identification information when you make a withdrawal from your account, when we change your account details or when undertaking transactions in relation to your account. For more information about when you can access your super please refer to the section Accessing your super in the Fact sheet. We will need to identify: you prior to allowing you to access to your super (full or partial withdrawal). We will only process the withdrawal once all relevant information has been received and your identity has been verified you and your self-managed super fund (SMSF) prior to processing a rollover to the SMSF. We will only process the rollover once all relevant information has been received and your identity and that of the SMSF has been verified your estate and/or your dependants if you die while you are a member. We will have to verify the identity of any person(s), including your estate, prior to the payment of any death benefit, and anyone acting on your behalf, including your nominated representative. If you nominate a representative, we will identify the nominated representative before adding them as a signatory to your account. You also acknowledge that we may decide to delay or refuse any request or transaction, including by suspending a withdrawal application, if we are concerned that the request or transaction may breach any obligation, or cause us to commit or participate in an offence under any law, and we will incur no liability to you if we do so. In limited circumstances, we may need to re-verify your identity. Enquiries and complaints process All aspects of AMP Eligible Rollover Fund are governed by the Fund s Trust Deed and the insurance policy held by us, including in the event of a dispute. You can find out additional information about your account, and request a copy of this PDS and any additional information that has been referred to in this PDS, from your financial planner or our Customer Service Centre. If you are unhappy about any aspect of your account or our service, please contact us: Online polinfo@amp.com.au Phone Mail AMP Customer Service Centre PO Box 300 PARRAMATTA NSW 2124 Fax Internet amp.com.au/erf My Portfolio amp.com.au/myportfolio We will try to resolve your complaint as quickly as possible. If we cannot resolve it immediately, we will keep you informed about our progress. Where we cannot resolve your complaint within 90 days or if you are unhappy with our decision, you may be able to lodge a complaint with the Superannuation Complaints Tribunal (SCT). The SCT is an independent body established by the government to review certain decisions of superannuation trustees. Superannuation Complaints Tribunal Website sct.gov.au Phone Or write to Locked Bag 3060 MELBOURNE VIC 3001 Time limits apply to certain complaints to the SCT. If you have a complaint, you should contact the SCT immediately to find out if a time limit applies. The SCT can only become involved after the Trustee s efforts at resolving your complaint has been unsuccessful. 7

8 8 9. Other information AMP and your privacy The main purpose of collecting personal information about you is so that we can establish and manage your account. This information is provided to us by your previous superannuation fund. We may also collect personal information directly from you or if it is required or authorised by law, including the Superannuation Industry (Supervision) Act 1993, the Corporations Act 2001 and the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act We may use this information for related purposes for example, providing you with ongoing information about financial services that may be useful for your financial needs through direct marketing. These may include investment, retirement, financial planning, banking, credit, life and general insurance products and enhanced customer services that may be made available by us, other members of the AMP group, or by your financial planner. Please contact us if you do not want your personal information used for direct marketing purposes. We usually disclose your personal information: to other members of the AMP group to your financial planner or broker (if any) to external service suppliers who may be located in Australia or overseas, who supply administrative, financial or other services to assist the AMP group in providing AMP financial services. A list of countries where these providers are likely to be located can be accessed via our Privacy Policy to the ATO to conduct searches on the ATO s Lost Member Register for lost super to your spouse or another person who intends to enter into an agreement with you about splitting your super as part of a marriage separation or a defacto (including same sex) relationship separation (the law prevents us from telling you if we receive one of these requests for information about your account), and to anyone you have authorised or if required by law. If health information is collected in relation to this product, then additional restrictions apply. The primary purpose for obtaining this health information is to process claims for benefits on the grounds of disablement or terminal illness. Your health information may be disclosed to: the financial planner or broker responsible for the account AMP Life (as administrator) medical practitioners any person the Trustee considers necessary to help either assess claims or resolve complaints, and anyone you have authorised or if required by law. Under the AMP Privacy Policy, you may access personal information about you held by the AMP group. The AMP Privacy Policy sets out the AMP group s policy on management of personal information, including information about how you can access your personal information, seek to have any corrections made on inaccurate, incomplete or out-of-date information, how you can make a complaint about privacy, and information about how AMP deals with such complaints. You may obtain a copy from amp.com.au. Temporary residents If you are a non-resident who has permanently left Australia and not withdrawn your super benefits within six months of your temporary visa expiring we may be required to pay your benefit to the ATO, after which you will need to apply to the ATO to claim your super. Family law and your super If you separate from or divorce from your spouse, the interest in your super may be split and the law outlines how this super interest will be valued and split. If your spouse does not provide us with instructions after the interest is split, then your spouse s interest may be transferred to the AMP Eligible Rollover Fund. Currently, in all States and Territories (apart from Western Australia), your interest may also be split if a de facto relationship (including a same sex relationship) breaks down. Your account can also be flagged as part of a separation or divorce as this prevents us from making most types of payments. Splitting or flagging can be achieved by agreement between the separating and divorcing couple, or by a court order. If your AMP Eligible Rollover Fund account is split, and your spouse (including a de facto spouse) does not provide us with instructions to transfer the benefit to another superannuation fund or taking the benefit in cash (if they satisfy a condition of release), the benefit may be transferred to an AMP Eligible Rollover Fund account of their own. My Portfolio online information about your account My Portfolio provides you with online access to information about your super, investments and insurance in a secure environment. You can: view your AMP products view your insurances do certain transactions like update your personal details including address, contact numbers, address and TFN. To access My Portfolio, visit amp.com.au/myportfolio or call /14