Connelly Temple Super Savings Plan. Product Guide

Transcription

1 Connelly Temple Super Savings Plan Product Guide Issued 1 July 2014

2 Contents Welcome to Connelly Temple Super Savings Plan 1 Product Summary 2 Contributions 4 Managing your account 7 Accessing your benefi ts 10 How we invest your money 12 Risks of super 12 SSP investment menu 19 Fees and costs 29 Taxation information 33 Insurance 35 What happens when you leave your employer? 45 Other things you need to know 46 Keeping in touch 50 How to contact us back cover Suncorp Portfolio Services Limited (Trustee) (ABN , AFSL , RSE Licence No L ), Suncorp Life & Superannuation Limited (Insurer) (SLSL) (ABN , AFSL ) and Suncorp-Metway Limited (SML) (ABN , AFSL ), are related bodies corporate of Suncorp Group Limited (Suncorp Group) (ABN ). The information contained in the PDS, this Product Guide, and any other material incorporated by reference, is of a general nature only and doesn t constitute financial advice. It has been prepared without taking into account your particular objectives, financial situation or needs. Before deciding to open an account or continuing to hold an interest, you should consider how the information contained in the PDS, this Product Guide, and any other material incorporated by reference, relates to your own situation. We recommend that you speak to a financial adviser who will be able to help you with your investment and insurance decisions. Various products and services are provided by different entities of the Suncorp Group. The different entities of the Suncorp Group are not responsible for, or liable in respect of, products or services provided by other entities of the Suncorp Group. The obligations of the Trustee and the Insurer aren t guaranteed by any other company within the Suncorp Group. Except as otherwise stated, the Suncorp Group and its subsidiaries and related bodies corporate don t guarantee the repayment of capital invested in or the investment performance of this product. This product is not a bank deposit or other liability and is subject to investment risk including possible delays in repayment and loss of the interest and principal invested. Except as otherwise stated, an investment manager doesn t guarantee the repayment of capital invested in or the investment performance of their investment option. The Trustee is authorised by the Australian Prudential Regulatory Authority to offer a MySuper product under section 29T of the SIS Act in relation to the Suncorp Master Trust, Suncorp Lifestage Fund. Unique identifier The Product Disclosure Statement (PDS), the Product Guide, and any other material incorporated by reference, were prepared on 25 June The Trustee is the issuer of the PDS, the Product Guide, and any other material incorporated by reference, and takes responsibility for its contents. Investment option information is provided by the investment managers which includes their objectives, strategies, asset allocations, fees and buy-sell spreads. The investment managers have consented to the publication of this information in the PDS and the Product Guide and haven t withdrawn their consent at the time of its preparation. They take no responsibility for any other information in the PDS, the Product Guide and any other material incorporated by reference. Connelly Temple Super Savings Plan (SPIN and Unique Superannuation Identifier RSA0100AU) is part of the Connelly Temple Public Superannuation division of the Suncorp Master Trust (Fund) (ABN , RSE Fund Registration No. R ). Applications can only be accepted from persons receiving the PDS (including electronically) within Australia. If you print an electronic copy, please ensure you print all pages of the PDS, the Product Guide, and any other material incorporated by reference. If you would like a printed version, free of charge, just call us on or us at [email protected] Administration services are provided by Suncorp Portfolio Services Limited, a wholly owned subsidiary of the Suncorp Group. We reserve the right to refuse or reject an application for membership or insurance. Insurance cover offered through Connelly Temple Super Savings Plan is provided by the Insurer in a policy issued to us. This policy is a non-participating policy. Throughout the PDS, the Product Guide, and any other material incorporated by reference, unless otherwise specified, references to: we, us, our and Trustee mean Suncorp Portfolio Services Limited Insurer and Suncorp Life and SLSL mean Suncorp Life & Superannuation Limited bank account means an Australian bank, building society or credit union account business day means a Sydney business day other than a Saturday, Sunday or public holiday in Sydney licensee means an organisation that has obtained an Australian Financial Services Licence (AFSL) for the provision of financial services SSP means Connelly Temple Super Savings Plan plan means your employer superannuation plan within Connelly Temple Super Savings Plan employer means your employer you and member means a member of Connelly Temple Super Savings Plan (an employee) Suncorp Lifestage Fund means a MySuper product. MySuper member means any member who has an investment in the Suncorp Lifestage Fund.

3 Welcome to Connelly Temple Super Savings Plan Welcome to Connelly Temple Super Savings Plan Connelly Temple Super Savings Plan (SSP) is part of the Suncorp Master Trust. Your employer has chosen SSP as your superannuation fund to help you invest and save for your retirement. We d like to welcome you to SSP and invite you to get to know your super account. After all, your super s going to play a big role in your family s financial security, and even small decisions now could make a big difference later. What you can expect from us We take the responsibility for your investment very seriously. That s why we ll do all we can to support you and help you make the most of your super account. How will we do this? We ll keep things simple. If you re unsure about where your super should be invested, we ll help you with information about how to match your attitude to risk with your investment choice. We ll help you protect what s important with insurance within your super. Additional information This Product Guide forms part of the Connelly Temple Super Savings Plan Product Disclosure Statement (PDS), issued 1 July You should read the PDS, this Product Guide and any other material incorporated by reference before making any investment or insurance decisions. You can get a copy of the PDS, this Product Guide and any other material incorporated by reference from our website. Or if you would like a printed version, free of charge, just call us on We ll be happy to help. Changes to the PDS and Product Guide The information in the PDS, and any other material incorporated by reference, such as this Product Guide and its underlying Trust Deed, may change. Where the change isn t materially adverse, we may update the information on our website at asteronlife.com.au We ll give you a printed version of the updated information, free of charge, on request. We ll make it easy for you to manage your account, by giving you a range of contact options from online, telephone, fax or post. With SSP, you re on the way to a better future for you and your family. Connelly Temple Super Savings Plan Product Guide 1

4 Product Summary The following section sets out key features of SSP. Take a few moments to get to know your account. The choice is yours Where you invest your superannuation is your choice. Super Choice is legislation that allows you (if you re eligible) to choose where you want your compulsory employer contributions paid. If your compulsory employer contributions are currently being paid into another account and you d like them to be paid into your SSP account, fill in a Standard Choice Form, available from our website. Your super account at a glance Features Refer to page Investment minimums Initial investment No minimum Ongoing account balance No minimum Regular contribution plan No minimum Investment choice Diversified investment options 5 12 Single sector investment options Maximum number of investment options Default investment option Suncorp Lifestage Fund 12 General features Investment switching Super consolidation service Lost super service You have the flexibility to switch between investment options at any time Consolidating your super accounts could reduce the amount of fees you pay and the amount of paperwork you receive. We can help you transfer all your super balances into the one account, or, if you d prefer to do it yourself, we also have an online Super Rollover Wizard. We can help you find your missing super benefits by conducting searches on the Australian Taxation Office (ATO) databases on your behalf Binding or non-binding death benefit nomination You can have a binding or non-binding death benefit nomination. 9 Contribution methods Insurance options Making contributions to your SSP account is easy, and you can choose from the following methods: direct debit cheque transfer from another super fund SSP gives members the option of having the following types of insurance: Death and Total and Permanent Disability (TPD) Income Protection (IP) Asteron Life

5 Features Refer to page General features continued Online access communications Fees and costs Log on to Asteron WealthSolutions at asteronlife.com.au to access your super account at any time By providing us with your address, you can choose to receive many of the more important communications, such as annual statements, transaction confirmations and confirmations of changes to your account details via . If your employer gives us your address, we ll use this to communicate with you whenever possible 50 Administration fees $78 per year 1 plus Suncorp Lifestage Fund 0.65% pa 30 Expense recovery allowance Investment fee Other investment options Up to 1.08% pa of your balance in these options. A discount applies if your balance in these options is over $50, % pa of your account balance excluding any investment in the Suncorp Lifestage Fund Depends on the investment option you select. The investment fee ranges from 0.20% pa to 0.80% pa Performance fees Depends on the investment option(s) you select and range from 0% to 30.75% of performance in excess of the relevant benchmark 32 1 This fee is deducted from any investment in the Suncorp Lifestage Fund providing there is sufficient balance to do so. See Fees and costs on page 29 of this Product Guide. Continued flexibility, even when you leave your employer If you leave your employer, you can still keep your super account in SSP. We ll also provide you with the information you need so that your new employer can contribute to your SSP account on your behalf. For more information, see What happens when you leave your employer? Connelly Temple Super Savings Plan Product Guide 3

6 Contributions Get off to a super start Your super is your key to a life of financial independence. But it s easy to forget about your super you probably don t see the money going in, and for most people there s no way of getting it out. Until you retire that is. The fact is that your super is likely to be the second largest asset you build in your lifetime, after the family home. SSP can help you reach your financial goals and achieve the retirement lifestyle you want. By taking advantage of the tax-effective nature of the superannuation environment and investing regularly in SSP now, you can make saving for your retirement easier. How much is your employer contributing for you? Did you know that unless you are an exempt employee, your employer must make superannuation guarantee (SG) contributions to your account on a quarterly basis? This is the minimum amount your employer must contribute on your behalf (unless you have a specific agreement in place with your employer to contribute more). The SG contribution amount is currently equal to 9.5% of most employees salary, and will gradually increase to 12%. To find out how much is being contributed to your super account on your behalf, check your payslip. Super strategies to boost your savings for your retirement The current level of SG contributions to your super account by your employer is a great start, but the truth is it probably won t be enough to provide you with the lifestyle you want in retirement. To help you boost your savings for retirement, the Government has put in place a number of initiatives to encourage you to save more for your retirement. Salary sacrifice Putting a portion of your pre-tax salary into your super is one of the most powerful and tax-efficient ways to boost your SSP account. Rather than paying income tax which can be up to 47%, you ll generally only pay 15% tax on these contributions. And because these contributions aren t considered salary for tax purposes, salary sacrificing can potentially reduce your overall taxable income. Government co-contributions If you make a personal contribution from after-tax money (that s money you ve paid income tax on - ie. your take-home pay), you may be eligible to receive an additional contribution into your account from the Government. This is known as the Government co-contribution scheme. If you earn less than $34,488 a year (in the 2014/15 financial year) and you make a $1,000 after-tax contribution, the Government may contribute the maximum $500 to your retirement savings. The Government s co-contribution amount decreases for those on higher incomes, but you can still benefit from the co-contribution scheme if you earn less than $49,488 a year (proposed for the 2014/15 financial year). Spouse contributions Contributions to your account If you earn less than $13,800 a year you could benefit from the spouse contribution scheme. By making a contribution on your behalf, your spouse may be entitled to a tax offset of up to $540 which can be claimed through their personal tax return. The offset is equal to 18% of a maximum contribution of $3,000 a year - ie. $540. This maximum rebate applies when the recipient spouse has a total income of less than $10,800 a year. The rebate gradually reduces up to the $13,800 a year earnings limit. The following points give you a flavour of these super boosting strategies. For more information on how these strategies can work for you, speak to your financial adviser or call us. 4 Asteron Life

7 Contributions to your spouse You can direct up to 85% of any pre-tax contributions made in the previous financial year from your account to your spouse s account. However, to do this your spouse must be under age 65, and not retired if age 55 to 64 (ie. must not yet be eligible to get access to their super). Self-employed? If you re self-employed, you don t receive SG contributions from an employer to help you save for your retirement. The good news is that if you re self-employed or substantially self-employed and under age 75, you may be able to claim a tax deduction for personal contributions. You can claim a tax deduction on all contributions you make as long as less than 10% of your income comes from an employer and you do not create a tax loss. If you ve made personal contributions into your account, we ll send you a notice at the end of the financial year. This is known as a s notice of intent to deduct (formerly a s82aat notice). To claim a tax deduction, simply complete the notice and send it back to us. You should consult with your financial adviser to ensure you are eligible to claim a tax deduction on personal contributions to super. Who can contribute? Personal circumstances, such as your age and employment status, determine who can open an account and contribute to super. You can only open an SSP account if you re: an eligible employee of an existing SSP corporate super plan and receiving SG or certain Award employer contributions at any age. You can make contributions into your SSP account if you re: under age 65 or age 65 to 74 and have worked at least 40 hours in a consecutive 30-day period within the current financial year. What types of contributions are accepted? Contributions made to your super account fit into one of two categories, known as: Concessional contributions or Non-concessional contributions. Both of these contribution categories are subject to caps on the amount you may contribute in a financial year (from 1 July to 30 June). The table below shows what category each type of contribution made into your super account falls into and the contributions caps for the 2014/15 financial year: Types accepted Contributions caps for the 2014/15 financial year Concessional contributions Compulsory employer (SG and Award) Personal (deductible) Salary sacrifice Voluntary employer $30,000 per year. $35,000 per year (for individuals age 50 or older). Nonconcessional contributions Spouse Personal (after-tax) $180,000 per year. If you're under age 65, you can contribute up to three times the cap in one or two financial years by combining some future years caps. Connelly Temple Super Savings Plan Product Guide 5

8 Contributions (continued) What happens if you contribute amounts above the caps? Depending upon the circumstances, you may pay additional tax or the contributions will be rejected. Excess concessional contributions are taxed at the marginal tax rate and you can request the release of up to 85% of these contributions from super. An additional interest charge applies. Contribution methods It s easy to contribute to your super account. Direct debit You, your spouse and your employer can conveniently contribute to your SSP account on a regular basis by setting up a direct debit facility. There s no minimum for direct debit contributions. Deductions from the nominated bank account are made on or around the 1 st of the relevant month. You can change or cancel this arrangement at any time and we must receive your request on or before the 20 th of the month for it to be effective for the next scheduled direct debit. Cheque Please make cheques payable to Suncorp Portfolio Services Limited <your account name> and send it with an Additional Investment form to us at: Customer Service Centre GPO Box 1576 Sydney NSW Asteron Life

9 Managing your account It s easy to manage your SSP account using the following transaction options The table below answers some questions you may have and helps you identify the choice of options available for each transaction. All forms are available from our website at asteronlife.com.au How do you? What form do you need to use? Transaction options Apply for insurance cover Insurance application form Change your investment options Set up or change a regular contribution plan Investment change form Direct Debit Request form Change your address Change of details form Change your name Change of details form Change your bank account details Direct Debit Request form Transfer money from another super fund Transfer Authority form Make a withdrawal Withdrawal form Nominate or change your death beneficiary Death benefit nomination form Provide your TFN Change of details form Appoint an authorised representative Set up a personal advice fee payment Authorised representative form Personal advice fee form Cancel a request No form Put your request in writing By mail Customer Service Centre GPO Box 1576 SYDNEY NSW 2000 By phone By fax Original signature required We must receive an original ink signature Connelly Temple Super Savings Plan Product Guide 7

10 Managing your account (continued) Default investment option Our default investment option for SSP members is the Suncorp Lifestage Fund. When you join SSP, you ll automatically be invested in our simple, cost effective and MySuper compliant Suncorp Lifestage Fund. It s a diversified investment option that automatically changes its investment mix as you grow older. More about MySuper On 1 January 2014 the Australian Government introduced the MySuper reforms which have been designed to improve the way superannuation works in Australia. MySuper is a simple, cost effective superannuation investment. At SSP, our MySuper investment option is the Suncorp Lifestage Fund. The PDS and this Product Guide provides all the information you need to know about the Suncorp Lifestage Fund. Fees and costs for the Suncorp Lifestage Fund By law we are required to offer all members invested in the Suncorp Lifestage Fund (MySuper) a standard set of fees and costs. Fees and costs associated with any investment in the Suncorp Lifestage Fund will be separate from your other investment options. You ll find fees and costs associated with each of these separated on your online account and on any account statements issued, including your annual statement. Our service standards We re committed to delivering consistent, superior service. Our service standards apply from when we receive your completed instructions. If we receive a completed investment transaction request from you by 12pm (Sydney time) on a business day, you ll receive the unit price effective for the investment option for that day. If we receive a completed investment transaction request after 12pm on a business day, we ll process the request using the investment option unit prices for the following business day. The 12pm cut-off applies to all contributions, switches, rollovers and withdrawal requests. Please call us if you would like additional information about our transaction service standards. What happens if we don t have all your information? We strive to consistently meet our service standards, however the unit price used to process your transactions may differ from the effective unit price for that day or processing your transactions may be delayed in some circumstances including: incomplete or incorrect information from you or your employer a delay in confirmation or payment from an external investment manager carrying out the transaction may materially impact other members us receiving a direction from a lawful authority to suspend or amend the transaction the investment manager suspending redemptions from your underlying investment the proximity to the end of the financial year and any other delays in redeeming assets. Please note that 30 days notice should be provided to us if you wish to switch or withdraw more than $250,000. We may from time to time review our service standards. Please also refer to Unit pricing delays on page 17. Terms and conditions for accepting faxes We ll accept faxed instructions on our relevant forms. Before using this option, there are a few things you need to know, like: we re not responsible to you for any loss resulting from any fraudulently completed request we re not responsible to you for any loss suffered by you because we process a fax that has been corrupted during transmission we won t compensate you for any losses arising from the use of this facility, and we ll be released and indemnified by you against any liabilities as a result of acting on any faxed communication received in relation to your account. 8 Asteron Life

11 Nominating your beneficiaries Have certainty over who will receive your death benefits by nominating a dependant. Who is a dependant? You can only nominate your estate or your dependants to receive your death benefits. A dependant under super law includes: spouse (legal, de facto, same-sex) child (any age) person in an interdependency relationship with you, and Non-binding death benefit nomination If you make a non-binding death benefit nomination, the Trustee will consider your nomination and use its discretion to pay any death benefit, generally to your dependants and/or your estate. Unlike a binding nomination, a non-binding nomination does not have to be renewed every 3 years. We recommend you review your nomination whenever you experience a change in circumstances such as marriage, divorce, birth of a child or when a beneficiary ceases to be a dependant. financial dependant. Choice of binding or non-binding death benefit nomination SSP offers you the choice of either a binding or a nonbinding death benefit nomination. Binding death benefit nomination A binding death benefit nomination allows you to nominate your dependants and/or your estate to receive part or all of your death benefit (including any insurance benefit). We must pay the benefit to your beneficiaries when you die (provided your nomination is valid at the time). For your nomination to be valid: each beneficiary must be a dependant and/or your legal representative at the time of your death if there is more than one beneficiary, the apportionment of your benefit must be clear and add up to 100% the nomination must be made, confirmed or amended every three years, and two adult witnesses who aren t beneficiaries must witness and sign the nomination. Where a dependant you have nominated as a beneficiary dies before you and your binding nomination is still valid, on your death, the Trustee will divide that dependant s share equally among your surviving nominated dependants. Where there are no remaining dependants, your binding nomination is invalid or you do not make a binding nomination, the Trustee can use its discretion and will generally pay the death benefit to your dependants and/or to your estate. Connelly Temple Super Savings Plan Product Guide 9

12 Accessing your benefits When can you withdraw from your SSP account? Super is a long-term investment designed to help you save for your retirement and government legislation defines when you can access your super benefits. While you can only access your super benefits before your preservation age under certain circumstances, you can transfer to another complying super fund at any time. What can you access? Preserved benefits Restricted non-preserved benefits Unrestricted non-preserved benefits These benefits can only be accessed once you have satisfied a condition of release. These benefits can be accessed under the same conditions of release as your preserved benefits, but can also be paid to you when you leave the employer who made the contributions for you. Generally, restricted non-preserved benefits arise from personal contributions made to an employer fund from 1 July 1983 up to 30 June 1999, and for which you couldn t claim a tax deduction. These benefits are fully accessible at any time. When have you met a condition of release? You ll be able to access your preserved benefits if you satisfy one of the following conditions of release. Condition of release Permanent retirement from the workforce (after reaching your preservation age) Leaving your employer after turning age 60 Reaching age 65 Permanent incapacity What you can access All All All All Severe financial hardship You may be limited to one lump sum payment between $1,000 and $10,000 within a 12-month period depending on your circumstances. Compassionate grounds Temporary residents departing Australia Termination of your employment with the employer who contributed for you Lost member who is found and have less than $200 in your account Reaching preservation age and using your benefits to start a non-commutable pension (transition to retirement) Terminal illness Temporary incapacity Death You ll need to make an application to the Department of Human Services to have your benefits released. The amount you receive is determined by the Department of Human Services. All You can access all your restricted non-preserved benefits. You can access your preserved benefits if the amount is less than $200. All You ll need to commence a non-commutable income stream that is limited to a maximum pension payment of 10% of the account balance. All You can access an amount as long as it doesn t exceed your income level before becoming temporarily incapacitated. You can only receive payments as a non-commutable income stream. All 10 Asteron Life

13 Your preservation age Your preservation age is based on when you were born and determines when you can access some of your benefits. Once you have reached age 60 and retired, your money can be taken out of your super tax free as a pension or a lump sum. Date of birth Preservation age Before 1 July July June July June July June July June After 30 June Connelly Temple Super Savings Plan Product Guide 11

14 How we invest your money Make the right investment choice. A few small decisions now could make a big difference to where you ll end up. Our investment menu SSP makes it simple for you to choose an investment option that s right for you. We got together with our investment partner, Ibbotson, a worldwide leader in investing, to offer you a choice of 11 investment options, including five diversified investment options and six single sector investment options. SSP gives you the flexibility to switch between your investment options at any time. You can also have your current account balance invested differently from how your future contributions are invested, if you want. Default investment strategy Your super contributions will be automatically invested in the Suncorp Lifestage Fund. This means you will be invested in the Suncorp Lifestage Fund for your year of birth. For example, if you were born in 1982 you will be invested in the Suncorp Lifestage Fund Risks of super Even though the government makes it partly compulsory, investing in super carries certain risks. One of the biggest is that you won t end up with enough money to meet your retirement needs. This could happen: when an investment decreases in value where money is invested conservatively in assets which provide more stable but lower long-term returns. General risks that could affect your SSP account Some of the risks that could affect your investments in your SSP account are shown below. We regularly monitor these risks for their impact on the investment menu as a whole, but it s a good idea for you and your financial adviser to consider what they might mean for you. This could be a perfectly reasonable investment option for you. But no single investment option suits everyone. And the risk you take is that the default investment option won t deliver what you want, or need, from your investments. Matching your investments to your risk profile, and to your long-term lifestyle goals, is a good start to achieving your retirement goals. With so much choice there s sure to be an investment option, or a combination of investment options, to suit you. It s just a matter of finding out what they are and discussing with your financial adviser the investment strategy that s right for you. Risk type Market risk Investment options risk Liquidity risk Credit risk What is it? This can arise due to changes in government or economic policy, interest rates and exchange rates, market sentiment, global events, technological change, environmental conditions or changes in legislation. All these things can adversely affect the financial markets in which your super may be invested. Investment managers and the strategies they adopt may change, which may not be in line with your expectations when you first invested. They may also fail to meet their stated investment objectives. It s also possible an investment option may be terminated. This arises where an investment can t be easily converted into cash or sold at fair value, at a time when you need it. This is where someone doesn t meet their obligations in, or relating to, an investment option. For example, it includes the risk that we or an underlying investment manager are unable to make payments. 12 Asteron Life

15 Risk type Interest rate risk Inflation risk Currency risk Derivatives risk Gearing risk Changes in law What is it? The value of fixed interest investments such as bonds will fall when interest rates rise, and vice versa. If inflation exceeds an investment s return, it will reduce the investment s purchasing power. Inflation risk is more common in low-risk investments, such as cash, which generally fluctuate less, but potentially provide lower long-term returns. The value of international investments will change with the rise and fall of the Australian dollar. An investment manager can manage currency risk via a strategy referred to as currency hedging. Generally, if the Australian dollar s value rises, the value of unhedged investments (those not currency hedged) held in other countries will fall and vice versa. Derivatives are securities that derive their value from another security. Commonly known derivatives include futures and options. Investment managers may use derivatives to manage risks in a portfolio or to leverage a portfolio in the hope of generating additional returns. The risks of using derivatives include that they may be costly or difficult to reverse and their value may not move in line with that of the underlying security. Gearing involves borrowing money to invest in an asset. Geared investment options are internally geared, meaning the investment option borrows the money, rather than you. The cost of borrowing, including interest rates, and the level of gearing influence returns on a geared investment. Gearing magnifies both the gains and losses of an investment option. Super and tax legislation changes frequently. These changes could affect when you can access your benefits and how they ll be treated upon withdrawal. We ll tell you about any changes we think are likely to affect your investment. Generally, we do this through the annual report. How can you reduce risk? The most common way to reduce your risk is by diversification, or not putting all your eggs in the one basket. SSP can help you diversify your investments: How we can help you diversify your super investment Across asset classes Within an asset class Our diversified investment options are invested across a range of investments, including Australian and international shares, Australian and international fixed interest, Australian and international property, cash and alternative assets. You can also create your own investment mix from our six single sector investment options. You can invest in different markets, different industries or different investment styles, within the one asset class. Connelly Temple Super Savings Plan Product Guide 13

16 How we invest your money (continued) The relationship between risk and return As a general rule, investments with a higher level of risk will provide a higher potential return. By the same token, the smaller the risk an investment poses, the smaller the potential return it will provide. This is illustrated below: High Shares Property Fixed interest Return Cash Growth assets Income assets Low Risk Balancing this relationship can be tricky. That s why it s important to speak to your financial adviser before making any investment decisions. Your financial adviser can recommend an investment option or a combination of investment options that suits your own risk tolerance level. High Standard Risk Measure The Standard Risk Measure (SRM) is a calculation we do to help make it easier for you to compare the riskiness of investment options. Technically it tells you how many negative annual returns an investment option can be expected to deliver over any 20 year period. The SRM is not a complete assessment of all forms of investment risk. For instance it doesn t detail what the size of a negative return could be or the potential for a positive return to be less than you may require to meet your objectives. Further, it doesn t take into account the impact of the fee, and tax on the likelihood of a negative return. You should still ensure you are comfortable with the risks and potential losses associated with your chosen investment option(s). A description of the SRMs are shown below: 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 You can find more information on the methodology we use to calculate the SRM in the Understanding Investment Risk flyer on our website. 14 Asteron Life

17 You ll find an SRM for each of our investment options either in the PDS or later in this Product Guide. The actual measure for each investment option can change at any time, for example because of market conditions. You should always check the most up-to-date information before you make a decision. You can find any updates in the Understanding Investment Risk flyer on our website. Understanding the asset classes Each investment option is invested into what are called underlying assets. These underlying assets have different characteristics and may be either income assets, growth assets or a combination of both. Income assets include such things as cash and fixed interest, which provide income returns in the form of interest Growth assets include property, shares and alternative assets, which provide investment returns comprising both capital growth (increase in value of the investment) and income. Asset class What is it? Cash generally refers to short-term liquid investments and may include bank deposit securities, such as term deposits. Cash Fixed interest Property Shares Alternative assets Fixed interest generally refers to debt instruments issued by governments and companies. Investments may include bonds, debentures and other hybrid securities. The value of fixed interest assets may go up or down. Property generally refers to direct or indirect property investments in Australian and international property via listed and unlisted real estate trusts (REITs), exchange traded funds (ETFs) and companies. Shares represent a part ownership in a company (ie. a share ). Returns from the ownership of shares combine both income received (dividends) and growth (capital gains) through the increase in the share price. The value of international shares may also be affected by fluctuations in the exchange rate. Alternative assets are investments that are not classified or may not be correlated to the traditional asset classes of cash, fixed interest, property or shares. Typically they may involve investments in asset classes (eg. gold, infrastructure or private equity) or investment strategies (eg. financial instruments such as exchange traded or Over The Counter (OTC) derivatives, or trading techniques) that aren t liquid and require specialised skills to manage. Connelly Temple Super Savings Plan Product Guide 15

18 How we invest your money (continued) Can you change your investment options? Because your financial needs may change, you have the flexibility to switch between investment options at any time, without paying a switching fee. This includes switching between the Suncorp Lifestage Fund and other investment options. You may incur a buy-sell spread, which is charged by the investment manager, depending on the options you select. For more information, please see Buy-sell spreads in the Fees and costs section of this Product Guide. Investing your future contributions Where you choose to invest your contributions is important. With SSP you have the flexibility to change how your future contributions are invested at anytime. You can switch between your investment options and also have your current account balance invested differently from how your future contributions are invested, if you want. If you have an investment in the Suncorp Lifestage Fund and other investment options, your future contributions can t be split. This means that your future contributions must be made 100% to either the Suncorp Lifestage Fund or across a selection of other investment options. Changing investment options Changing your future investment strategy (or switching your investment) from the Suncorp Lifestage Fund to other investment options may mean: A change to the fees and costs you pay, including investment and administration fees. Please see Fees and costs in this Product Guide for more information. A change in your investment strategy and risk on your investment. Please see the SSP investment menu in this Product Guide for more information. Unit prices For all SSP investment options, your balance in that investment option is calculated by multiplying the number of units you hold by the investment option s exit price and moves up or down over time. Your unit balance represents a partial holding in an investment option. Buying units When you invest or switch into an investment option, units in your chosen investment option are allocated to you. The number of units allocated will depend on the investment option s entry price at the time and the amount you invest. Selling units When we sell units in an investment option, the amount you receive will depend on the exit price of the investment s units at the time and number of units sold. We can sell units from your investment options to pay for taxes, insurance fees (if applicable) and certain fees or charges. We also sell units when you switch to another investment option, request a withdrawal or transfer to another super fund. Switching between investment options If you request a switch, we ll sell units from one investment option and use the proceeds to buy units in the other investment option. The buy-sell spread is applied to cover transaction costs associated with processing the switch. How are unit prices calculated? Unit prices are usually calculated daily and reflect the value of the underlying assets of the investment option. This takes into account income entitlements, investment fees, taxes, levies and other expenses and liabilities. The underlying asset value is divided by the number of units on issue to arrive at the price per unit. Buy or sell spreads are then applied to this price per unit to calculate the entry and the exit prices, respectively. Like the values of the underlying investments, the price of units can move up and down. If you want information about daily unit prices, give us a call on Asteron Life

19 Unit pricing delays We may suspend unit pricing where in our opinion: a significant event or incident occurs that has the potential to affect investment markets or an event occurs that has the potential to affect unit prices or an external investment manager closes the underlying investment to applications and withdrawals or the unit prices calculated have the potential to prejudice specific investors. Investment performance Investment performance lets you see how your investment is going. How is investment performance calculated? Your super balance can go up or down. Past performance is not an indicator of future performance. In accordance with industry standards, investment performance is generally calculated net of taxes, levies and ongoing fees such as the administration fee, performance fee and investment fee. However, when calculating investment performance, we generally don t take into account contributions tax, and any discretionary ongoing fees such as insurance fees and personal advice fees. If we calculate the investment performance for an investment option in a way different from that set out above, we ll explain this in the monthly Investment Options Performance Reports available on our website at asteronlife.com.au You should be aware that the investment performance information for the investment options may differ from the performance of the underlying investment managers. This may be due to: holding some assets in cash or short-term securities, for liquidity purposes or provisions for taxes, levies and distribution of tax credits or the fees and charges that apply or a lag between when the underlying investment managers report their performance and when the value of the underlying investment option is reflected in the unit prices. Who manages SSP investment options? We ve got together with our investment partner, Ibbotson Associates Australia Limited (Ibbotson), a worldwide leader in investing, to offer you SSP s investment options. For more information, please see Information about the investment manager later in this Product Guide. About the investment options For some investment options, a PDS is issued by the underlying investment manager, free of charge. You can download copies from our website or ask us for a printed version. Before you select or change your investment selection to a new investment option, you should consider the relevant investment manager s PDS. In general, if there s a conflict between the terms and conditions shown in an investment manager s PDS and the SSP PDS and this Product Guide, you should refer to the SSP PDS and this Product Guide to understand the terms and conditions applying to your investment. If you d like to find out what the differences are in investing into an investment option through SSP as opposed to investing directly with the underlying investment manager, please see Investing through SSP and investing directly in this Product Guide. Please note that we don t take labour standards, environmental, social and ethical considerations into account when selecting, retaining or terminating investment options. Multi-manager investment options A multi-manager approach to investing uses the skills of more than one investment manager. It s based on the view that no single investment manager consistently outperforms the market in all conditions. Over any given timeframe, it s difficult to predict which investment managers or which investment style will outperform the market and its peers. Some investment styles will perform well in one stage of the market cycle, while others may perform poorly in the same conditions. SSP s multi-manager investment options blend a combination of quality investment management styles to create investment options aimed at reducing investment risk and the volatility of returns. Connelly Temple Super Savings Plan Product Guide 17

20 How we invest your money (continued) Changes to investment options SSP s investment menu may change, so it s important to check our website regularly in case your investment options have changed, including the fees and charges relating to the investment options. From time to time, investment options may also be closed, suspended or terminated by an external investment manager or by us. This may happen where: the investment option is no longer offered by the investment manager or the total amount of investor s money in the investment option has grown too large for the investment manager to continue with its current investment strategy or laws change so that some investment types become no longer permissible or we determine that it s in the best interests of members or the investment option may no longer be economically viable. If an investment option is closed, suspended or terminated, this may cause delays in processing withdrawals and transfer requests. Such a delay may be more than 30 days. The unit price used to process your transaction may therefore differ from the price applicable on the day you lodged your request. Where an investment option is closed, suspended or terminated, we ll write to you in advance (where possible) to tell you. You ll then be able to review your investment strategy with your financial adviser or call us. If we can t tell you in advance, we ll choose a replacement investment option in which to invest your money until you ve been able to review your investment strategy. Investing through SSP and investing directly When you invest with SSP, we hold the investment on your behalf, instead of you holding it directly. There are differences in investing into an investment option through SSP as opposed to investing directly with the underlying investment manager. These include: Timing of information Differing returns Differing fees Minimum and maximum transaction amounts Tax implications Receipt of reports The rights to attend and vote at unit holder meetings An investment manager s PDS may have a different preparation date from this PDS and may include investment information effective as at different dates. Investment returns based on unit prices as calculated for SSP are likely to differ from any returns in an investment manager s PDS or reports. This could be due to differences in investment fees, costs, taxes, and the timing impact of differences in transactions for the investment options offered within SSP relative to those for the investment manager s financial product. The fees incurred when investing through SSP are likely to differ from the fees charged by the investment manager as a result of fees levied to administer SSP. An investment manager s PDS may set out minimum and maximum investment amounts. These don t apply to you when investing through SSP. SSP is liable to pay tax for each investment option. The unit prices of investment options in SSP will reflect any applicable tax liability. You won t receive reports directly from investment managers when you invest in SSP. When you invest in SSP, you won t hold any rights to attend and vote at meetings of unit holders of the underlying financial product. Before you make any investment decisions, you should consider the relevant investment manager s PDS. You can download copies from our website or you can ask us for a printed version, free of charge. 18 Asteron Life

21 The information in an investment manager s PDS may change from time to time. This means that when you make a contribution into an investment option, you may not have referred to the most recent PDS for that investment option. You may not therefore be aware of material changes or significant events that would be in the most recent PDS. However, you can download from our website information about material changes or significant events that affect a matter in the underlying PDS. We ll provide this information as soon as practicable after the change or event takes place. You should therefore check our website each time you make an additional contribution to see whether any matter in the PDS has been affected by a materially adverse change or significant event. Related companies We, Suncorp Custodian Services Pty Limited (ABN ), Optimum Pooled Superannuation Trust (PST) (SFN ), Suncorp Funds Pty Ltd (ACN ) (SFPL), Suncorp-Metway Limited (ABN , ASFL ) and Suncorp Life & Superannuation Limited (SLSL), are part of the Suncorp Group. We don t deal with our related companies more favourably than we would with any other independent service provider. The underlying assets of the Fund are invested in the Optimum PST which then invests into underlying investment options including trusts issued by SFPL. SFPL currently invests in bank deposits issued by Suncorp-Metway Limited. SSP investment menu For straight forward investing, you can pick any of the diversified portfolios shown in the box below. High High Growth Growth Balanced Return Conservative Secure Cash Low Risk High These multi-manager investment options were designed in conjunction with Ibbotson, with the aim of achieving the diversification you need in one portfolio. There s one to suit everyone no matter what your risk profile. If you like, you can also invest in the multi-manager single sector investment options. The Suncorp Lifestage Fund We got together with our investment partner Ibbotson, a worldwide leader in investing, and created the diversified multi-manager Suncorp Lifestage Fund. It brings together the skill and expertise from a number of quality investment managers from Australia and around the world. It makes super investing super easy. First, we allocate you a diversified investment mix determined by your age so you don t have all your eggs in the one basket. And as you get older, we ll automatically change it to better suit your changing needs and risk profile. So when you re younger, we ll put more of your money in growth investments (such as shares and property) because you have a long time before retirement to ride the ups and downs of investment markets. And as you get older, we ll put more of your money in income investments (such as fixed income, infrastructure and cash) better suited to investors with shorter time horizons. Connelly Temple Super Savings Plan Product Guide 19

22 How we invest your money (continued) When you join SSP, you ll automatically be invested in the Suncorp Lifestage Fund for the year of your birth. For example if you were born in 1982 you will be invested in Suncorp Lifestage Fund The illustration below shows how this works. Proportion of growth investments The Suncorp Lifestage Fund holds a diversified mix of growth and income investments, with an increased allocation to income investments as you get older. Each Suncorp Lifestage Fund is tailored to suit the investment needs and risk profile of investors within the specified age group. In the PDS we showed you what the strategic asset allocation was for each Suncorp Lifestage Fund. The following table shows what their investment objectives and ranges are. Suncorp Lifestage Fund 1934 or earlier 100% 80% 60% 40% 20% 0% Investment objective (net of fees) Primarily capital preservation with a return objective of CPI + 1.5% over 10 years Primarily capital preservation with a return objective of CPI + 1.5% over 10 years Primarily capital preservation with a return objective of CPI + 2.0% over 10 years Primarily capital preservation with a return objective of CPI + 2.0% over 10 years Tilted towards capital preservation with a return objective of CPI + 2.0% over 10 years Tilted towards capital preservation with a return objective of CPI + 2.5% over 10 years Tilted towards capital preservation with a return objective of CPI + 3.0% over 10 years Tilted towards wealth generation with a return objective of CPI + 3.0% over 10 years Tilted towards wealth generation with a return objective of CPI + 3.5% over 10 years Primarily wealth generation with a return objective of CPI + 3.5% over 10 years Primarily wealth generation with a return objective of CPI + 4.0% over 10 years Primarily wealth generation with a return objective of CPI + 4.0% over 10 years Primarily wealth generation with a return objective of CPI + 4.5% over 10 years Primarily wealth generation with a return objective of CPI + 4.5% over 10 years Primarily wealth generation with a return objective of CPI + 4.5% over 10 years How we invest your money with the Suncorp Lifestage Fund More growth investments, such as shares and property We change your investment mix as you get older Cash Aus fixed interest Ranges (%) for the different investments Intl fixed interest Fewer growth investments (and more income investments like fixed interest and cash) Your age Illustrative only Infrastructure Property Aus shares Intl shares The Consumer Price Index (CPI) is a key measure of inflation. A performance objective including CPI means it aims to preserve the real value of your investment (ie to at least keep pace with inflation). 100% 80% 60% 40% 20% 0% 20 Asteron Life

23 Our other investment options If the Suncorp Lifestage Fund isn t for you, you can build your own investment portfolio from our four diversified and six single sector investment options. They re designed to suit a broad range of investors. You can change your investments at any time by completing an Investment change form available on our website. Before making a choice, you should consider the possible return and risk of the investment options and how long you plan to keep them. In addition, you should consult your financial adviser to help you decide what investment strategy is right for you. Diversified investment options Ibbotson Secure Trust Secure Investment objective Investment strategy Aims to earn a rate of return that exceeds Consumer Price Index increases by at least 0.5% pa over a rolling 1 year period. Predominantly defensive assets, largely cash with a small diversified exposure to growth assets to provide some capital growth. Asset type Range Australian shares 0-10% International shares 0-10% Australian property securities 0-10% International property securities 0-10% Investment mix Global infrastructure 0-10% Australian bonds 0-20% International bonds (Hedged) 0-20% Global inflation-linked securities (Hedged) 0-15% Cash % Alternative strategies 0-10% Standard Risk Measure Style Timeframe Investment fee 1 Very low Multi-manager 1 year plus 0.34% pa Performance fee Yes 1 Buy-sell spread as at 1 July 2014: +/- 0.03% Connelly Temple Super Savings Plan Product Guide 21

24 How we invest your money (continued) Ibbotson Conservative Growth Trust Conservative Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Aims to earn a rate of return that exceeds Consumer Price Index increases by at least 1.0% pa over rolling 3 year periods. Predominantly defensive assets and strategies with a mix of both Australian and international investments. Asset type Range Australian shares 0-30% International shares 0-30% Australian property securities 0-15% International property securities 0-15% Global infrastructure 0-10% Australian bonds 0-30% International bonds (Hedged) 0-30% Global inflation-linked securities (Hedged) 0-20% Cash 10-70% Alternative strategies 0-25% 3 Low to medium Multi-manager 3 years plus 0.49% pa Performance fee Yes 1 Buy-sell spread as at 1 July 2014: +/- 0.10% 22 Asteron Life

25 Suncorp Balanced Portfolio Balanced Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Aims to earn a rate of return that exceeds Consumer Price Index increases by at least 2.5% pa over rolling 5 year periods. A balance between return seeking and defensive assets and strategies with a mix of both Australian and international investments. Asset type Range Australian shares 0-45% International shares 0-45% Australian property securities 0-20% International property securities 0-20% Global infrastructure 0-15% Australian bonds 0-30% International bonds (Hedged) 0-30% Global inflation-linked securities (Hedged) 0-20% Cash 0-55% Alternative strategies 0-25% 4 Medium Multi-manager 5 years plus 0.58% pa Performance fee Yes 1 Buy-sell spread as at 1 July 2014: +/- 0.14% Connelly Temple Super Savings Plan Product Guide 23

26 How we invest your money (continued) Ibbotson Growth Plus Trust Growth Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Aims to earn a rate of return that exceeds Consumer Price Index increases by at least 3.5% pa over rolling 7 year periods. Predominantly return seeking assets and strategies with a mix of both Australian and international investments. Asset type Range Australian shares 0-60% International shares 0-60% Australian property securities 0-25% International property securities 0-25% Global infrastructure 0-20% Australian bonds 0-20% International bonds (Hedged) 0-20% Global inflation-linked securities (Hedged) 0-15% Cash 0-45% Alternative strategies 0-25% 5 Medium to high Multi-manager 7 years plus 0.69% pa Performance fee Yes 1 Buy-sell spread as at 1 July 2014: +/- 0.16% 24 Asteron Life

27 Single sector investment options Ibbotson Cash Trust Cash Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Performance fee Buy-sell spread as at 1 July 2014: Aims to match and, where possible, enhance performance relative to the UBS Australian Bank Bill Index over rolling 3 year periods by investing predominantly in Australian short-term cash deposits and cash equivalent securities. A diversified Trust of defensive assets such as money market and fixed interest securities. The Trust will invest in government, semi-government and highly rated corporate securities (or ETFs with exposure to these securities), typically with a maturity of less than one year. The Trust is also constructed to ensure it is highly liquid through all market conditions while also protecting the underlying capital of the Trust. To implement this strategy, Ibbotson may design portfolios and/or appoint managers to manage the assets of the Trust. Asset type Range Cash 100% 1 Very low Active 1 year 0.30% pa No Nil Connelly Temple Super Savings Plan Product Guide 25

28 How we invest your money (continued) Ibbotson Australian Bonds Trust Australian fixed interest Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Performance fee Aims to match and, where possible, enhance performance relative to the UBS Australian Composite Bond Index over rolling 3 year periods by investing predominantly in Australian investment grade bonds. A passively managed Trust predominantly invested in government, semigovernment and/or corporate Australian bonds. The Trust aims to deliver a superior risk return profile to the performance benchmark and aims to provide investors with a consistent income, whilst also looking to preserve underlying capital. To implement this strategy, Ibbotson may design portfolios and/or appoint managers to manage the assets of the Trust. Asset type Range Australian fixed interest 90%-100% Cash 0-10% 4 Medium Passive 3 years 0.422% pa No Buy-sell spread as at 1 July 2014: +/- 0.10% Ibbotson International Bonds Passive (Hedged) Trust International fixed interest Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Performance fee Aims to deliver a superior risk-return profile to the Barclays Global Treasury ($A Hedged) Index over rolling 3 year periods by investing predominantly in international bonds which are hedged back to Australian dollars. A passively managed Trust predominantly invested in international investment grade bonds hedged back to Australian dollars. The Trust aims to provide investors with a consistent income, whilst also looking to preserve the investors underlying capital. To implement this strategy, Ibbotson may design portfolios and/or appoint managers to manage the assets of the Trust. Asset type Range International fixed interest 90%-100% Cash 0-10% 4 Medium Passive 3 years 0.37% pa No Buy-sell spread as at 1 July 2014: +/- 0.10% 26 Asteron Life

29 Ibbotson Australian Property Securities Trust Australian property Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee Performance fee Aims to deliver a superior risk-return profile to the S&P/ASX 300 Property Accumulation Index over rolling 5 year periods by investing predominantly in listed Australian Real Estate Investment Trusts (REITs), particularly those that generate high levels of rental income from Australian commercial property. A Trust predominantly invested in Australian real estate investment trusts that generate high levels of rental income. To implement this strategy, Ibbotson may design portfolios and/or appoint investment managers to manage the assets of the Trust. Asset type Range Property securities 90%-100% Cash 0-10% 6 High Passive 5 years 0.438% pa No Buy-sell spread as at 1 July 2014: +/- 0.20% Ibbotson Australian Shares Active Trust Australian shares Investment objective Aims to maximise outperformance relative to the S&P/ASX 300 Accumulation Index over rolling 7 year periods by investing predominantly in listed Australian shares. Investment strategy Investment mix Standard Risk Measure Style Timeframe Investment fee The portfolio is invested predominantly across listed Australian shares. An actively managed Trust predominantly invested in Australian shares. To implement this strategy, Ibbotson may design portfolios and/or appoint managers to manage the assets of the Trust. Asset type Range Australian shares % International shares 0-20% Cash 0-10% 6 High Multi-manager 7 years plus 0.80% pa Performance fee Yes 1 Buy-sell spread as at 1 July 2014: +/- 0.15% Connelly Temple Super Savings Plan Product Guide 27

30 How we invest your money (continued) Ibbotson International Shares (Unhedged) Trust International shares Investment objective Investment strategy Investment mix Standard Risk Measure Style Timeframe Aims to maximise outperformance relative to the MSCI All Country World ex-australia Index with Net Dividends Reinvested (Unhedged) over rolling seven-year periods by investing predominantly in listed international shares. Invests in listed international shares across developed and emerging markets and aims to produce superior long-term returns whilst reducing volatility of short-term returns relative to the performance benchmark. To achieve this aim, Ibbotson seeks to appoint superior and complementary investment managers to manage the assets of the International Shares option. Asset type Range International shares (Unhedged) % Cash 0-10% 6 High Multi-manager 7 years Investment fee 0.75% Performance fee Yes 1 Buy-sell spread as at 1 July 2014: +/- 0.20% 1 Certain underlying investment managers and underlying Ibbotson Associates trusts may charge performance fees. These fees are payable if the relevant investment manager meets specific investment performance targets. Performance fees are structured so that an investment manager s remuneration is linked to the investment return achieved over an appropriate benchmark index. Underlying investment managers performance fees are typically between 10.25% and 30.75% pa of performance in excess of the relevant benchmark index, although they can be higher or lower. For trusts managed by Ibbotson Associates which charge a performance fee, the performance fee is currently 10.25% pa of performance in excess of the relevant benchmark and can be changed so long as it is within the maximum of 25% pa permitted by the relevant trust constitution. Where Ibbotson Associates charges performance fees in the underlying Ibbotson trusts a sufficient number of units are redeemed in the trusts to fund payment of the performance fee. Any performance fees payable that aren t covered by the investment fee will be an additional cost to you. The method of charging performance fees (including the performance amount of the performance fee) may change in the future. Members will be notified via the monthly investment performance report (available via asteronlife.com.au) if performance fee arrangements change and result in the estimated performance fees exceeding the range disclosed. Information about the investment manager Ibbotson Associates Australia Limited Ibbotson Associates is a leading provider of asset allocation, portfolio construction and investment research services with over 30 years experience in the United States, Australia and other international markets. Ibbotson advises and manages funds for superannuation funds, institutions, platform distributors, financial advisers and individuals. Ibbotson leverages its in-depth research to deliver innovative investment solutions, help investors reach their financial goals, and provide independent investment thought leadership. Ibbotson is a unit of Morningstar s Investment Management division. Ibbotson s experienced investment professionals research potential investment managers, asset classes and investment strategies and then combine these in a way which they believe is most likely to deliver on the Trust s investment objective. Ibbotson s investment process involves a structured decision making framework which provides the necessary flexibility to respond to the dynamic nature of markets, while maintaining the direction and structure that a well thought out and disciplined investment process provides investors. In its diversified trusts, Ibbotson will dynamically allocate across asset classes, within allowable ranges, guided by long-term economically justified relationships between asset prices, valuations, and fundamentals. 28 Asteron Life

31 Fees and costs Did you know? Small differences in both investment performance and fees and costs can have a substantial impact on your longterm returns. For example, total annual fees and costs of 2% of your fund 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. Your employer may be able to negotiate to pay lower administration fees. Ask the fund or your financial adviser. 1 To find out more If you d 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 compare different fee options. 1. We re required by law to include this paragraph. Sorry, but our fees aren t negotiable. In this Product Guide where we refer to other investment options we mean investments that are not the Suncorp Lifestage Fund. Where we refer to your other balance we mean your balance in the other investment options. Fees and costs for SSP This table outlines the fees and costs applicable to your account and across all your investment options. Type of fee Suncorp Lifestage Fund Other investment options Investment fee 0.20% pa This depends on the investment option(s) you choose. They range from 0.30% pa to 0.80% pa. Administration fees 0.65% pa Up to 1.08% pa of your other balance A discount applies if your other balance is over $50,000 1 How and when paid This fee is included in the daily unit price calculation. For the Suncorp Lifestage Fund, this fee is reflected in the daily unit price. For all other investment options, it is deducted monthly from your account. $1.50 per week This fee is charged as a monthly fee of $6.50 and will be deducted from any investment in the Suncorp Lifestage Fund providing there is sufficient balance to cover the amount. If there is not sufficient balance, it will be deducted from your other investment options. We ll deduct this fee each month by withdrawing units from your account on or around the 28th. Buy-sell spread Nil Up to +/- 0.20% depending on the investment option(s) you choose. Switching fee Nil Exit fee Nil Advice fees Nil relating to all members investing in the Suncorp Lifestage Fund or other investment options Other fees and costs Indirect cost ratio Nil 1 Please refer to the Administration fee section for more details. This cost will be reflected in the buy-sell price of the investment option(s) you choose. Please refer to the Additional explanation of fees and costs section for more information. Connelly Temple Super Savings Plan Product Guide 29

32 Fees and costs (continued) Additional explanation of fees and costs Taxes All fees in this Product Guide are quoted after the expected effect of income tax and inclusive of GST (less any available reduced input tax credit). This means the fees you see are the fees you ll actually pay. In some cases the Trustee may be able to claim a further tax benefit in relation to these fees. If so, it may pass this benefit on to you. APRA levy APRA imposes a levy on the Trustee, a proportion of which will be recouped from your underlying investments on a monthly basis. For the year ending 30 June 2015 this levy should be no more than 0.02% of the value of your investments and may change each year based on the levy set by APRA. As the APRA levy is an expense of the fund any variation to the APRA levy will be passed onto you without notice. Please see our website asteronlife.com.au for more information. Administration fee The administration fee is the fee payable to the Trustee for managing your SSP account. Administration fee for investment in the Suncorp Lifestage Fund The administration fee on an investment in the Suncorp Lifestage Fund is 0.65%. Administration fee for other investment options The maximum administration fee is discounted dependent upon your other balance. Other balance Maximum % pa First $50, % Next $100, % Next $100, % Next $250, % Amounts over $500, % Personal advice fee You can authorise us to pay a personal advice fee to your financial adviser (agreed by us) and have the fee charged to your SSP account. Personal advice fees can be payable as: A one-off fixed dollar fee, or a percentage of your account balance. As an ongoing fixed monthly dollar fee, or percentage of your account balance, deducted from your account at the end of each month. Any personal advice fees that relate to your investment in the Suncorp Lifestage Fund can not be deducted from your other investment options. The ongoing personal advice fee payable on the Suncorp Lifestage Fund will be available on or around August You should refer to your financial adviser s Statement of Advice for details of this fee. Any personal advice fee will include GST. The Fund may be able to pass on the benefit of reduced input tax credits (if available) in respect of this fee, so the amount deducted from your account may be less than the amount paid to your financial adviser. The trustee may at its discretion refuse to deduct a personal advice fee or any other fee. You can cancel an ongoing personal advice fee at any time. Insurance fees If you have insurance cover, your insurance fees will be deducted monthly in advance by withdrawing units from your account unless you have an alternate arrangement with your employer. If you are invested in the Suncorp Lifestage Fund and other investment options, your insurance fees will be deducted from your other investment options. If the balance in your other investment options is insufficient to pay your insurance fees, we will then deduct your insurance fees from your investment in the Suncorp Lifestage Fund. Expense recovery allowance An expense recovery allowance of 0.20% pa of your other balance is deducted from your account each month, not including any amounts invested in the Suncorp Lifestage Fund. For example, if you invested $10,000 and the expense recovery allowance was 0.20% this would result in an annual amount of $ Asteron Life

33 The expense recovery allowance covers expenses incurred by the Trustee in administering and managing SSP. These include expenses associated with satisfying reporting obligations, preparing and issuing disclosure documents, policies and associated material for SSP, fees paid to service providers, and government charges. No expenses or costs incurred are recovered from any investment in the Suncorp Lifestage Fund. Where the expense recovery allowance is insufficient to meet all the expenses and liabilities the Trustee incurs in respect of SSP, the Trustee is entitled to be indemnified and seek reimbursement for any additional expenses and liabilities properly incurred in the administration and management of the Fund. The Trustee may use the assets of the Fund (including reserves) when exercising this indemnity. SSP reserves The Fund holds a tax reserve. The tax reserve arises from the differences between the tax deducted from members accounts and the estimated tax liability of the Fund. Any excess amounts are retained within the reserves and may be used to meet expenses associated with the administration, management and operation of the Fund. Alternatively, the Trustee has a discretion to distribute excess amounts to members accounts. Fees and charges relating to the investment options The estimated amount you pay for each specific investment option can be found under each individual option in the SSP investment menu on page 19 of this Product Guide. These fees and charges are past charges and should not be taken as an indication of actual future charges The latest investment fees are provided in the monthly Investment Options Performance Report and are available on our website via asteronlife.com.au or by calling us on Indirect cost ratio (ICR) This ratio is the total of the indirect costs for an investment option to the total average net assets of the Fund attributed to the investment option. Indirect costs are any amount that will reduce the return on an investment option that is not charged to you as a fee. It is an additional cost to you. Buy-sell spreads You may incur a buy-sell spread when you make contributions, withdraw or change your investment options. This spread is the difference in the buying price and selling price of the investment option, and generally covers the transaction costs of buying and selling the underlying assets of that investment option. It ensures that non transacting members are not disadvantaged by the activity of transacting members. The spread isn t a fee paid to us or the investment manager. It is retained within the underlying investment option to cover the transaction costs. No buy-sell spreads are applicable for any investment in the Suncorp Lifestage Fund. The investment manager (including us) may vary the buy-sell spread costs from time to time including increasing these costs without notice when it is necessary to protect the interests of existing investors and if permitted by law. The updated information will be disclosed in the monthly Investment Options Performance Reports available on our website at asteronlife.com.au Investment fees The investment fee is charged by the investment manager of the underlying investment option. This fee generally includes the investment manager s fee, audit, custody and other general costs incurred in the administration of the underlying investment option. These fees and expenses may be varied by the investment manager and are equal to the management costs of the underlying investment option. As this is an expense of the Fund, for investment options not issued by Suncorp, these variations will be passed on to you without notice. To understand all of the fees payable in respect of your investment, you should consider both this Product Guide and the relevant investment manager s PDS. Connelly Temple Super Savings Plan Product Guide 31

34 Fees and costs (continued) Performance fees This fee is only charged by some investment managers for certain investment options when they outperform their stated benchmarks. It s an additional amount to the investment fee. As this is an expense of the Fund, any performance fee payable will be passed onto you without notice. Performance fees are not charged for any investment in the Suncorp Lifestage Fund. To find out which investment options have a performance fee, please see the SSP investment menu starting on page 19 of this Product Guide. Other fees and costs You, your employer or your spouse will be required to pay for any bank fees or charges (including any government charges) we incur as a result of a cheque being dishonoured or a direct debit amount being denied from your or their external nominated bank account. We may deduct any fee owed by you from your account. In some circumstances, where you request further information about SSP or the Fund, you may be charged for this information. Variation of fees and costs Under our Trust Deed, we can introduce new fees or change the current fees at any time, provided the Trustee is satisfied that, as a result of changed economic circumstances, any increase is fair and reasonable. We will provide you with at least 30 days written notice of our intention to increase our current fees or other costs (except for fees and charges relating to the investment options). The investment fees and buy-sell spreads charged by the underlying investment managers are estimated and may change at any time. Current fees for each investment option are shown in the investment options performance report, available from our website via asteronlife.com.au Payments to and from other parties Any payments (or benefits) we make to or receive from other parties are not an additional cost to you, unless otherwise disclosed in this PDS. We may receive a payment of up to 6.59% of any insurance fees paid from Suncorp Life as a fee for the administration of insurance. We may also receive payments of up to 0.25% pa from certain investment managers, based on the total funds we have invested with them. Alternative Remuneration Register All payments made or received by us will be in accordance with the Investment and Financial Services Council Industry Code of Practice on Alternative forms of remuneration. We keep a register of these payments which you can view by contacting us on We can also advise you of the alternative forms of remuneration that we pay or receive. 32 Asteron Life

35 Taxation information The facts on tax Are you sketchy on tax details? The table below helps you understand the basics when it comes to tax and your SSP account. Remember it s important to talk to your financial adviser in respect of your personal circumstances, before making any decisions. This information in the table below is based on our interpretation of tax legislation at the date of this Product Guide and assumes that you are an Australian tax resident. Changes in legislation in the future may impact how your super account is taxed. On contributions received On your investment earnings On withdrawals 0% on non-concessional contributions 15% on concessional contributions 1 47% on excess amounts over the non-concessional contribution cap 3 Your marginal tax rate plus an excess concessional contributions charge on excess amounts over the concessional contribution cap 47% 2 on concessional contributions where a TFN is not held by the super fund 15% if your transfer contains any untaxed components 4 Up to 15% on investment earnings For lump sum withdrawals 0% if you re age 60 or over 15% 2 on taxable components over $185,000 5 if received when you re between your preservation age and age 59 20% 2 on taxable components if you re under your preservation age For death benefits paid as a lump sum withdrawal 0% if paid to a tax dependant 15% 2 on taxable (taxed) component paid to a non-tax dependant 30% 2 on taxable (untaxed) component paid to a non-tax dependant 1 If income exceeds $300,000 per annum, contributions tax of 30% will apply. 2 Plus Medicare levy. 3 It is proposed if your non-concessional contribution exceeds the non-concessional contribution cap, you can withdraw the excess contributions with no excess contribution tax payable and with associated earnings taxed at your marginal tax rate. However, if you leave your excess non-concessional contributions in your super, you will be taxed on these at the top marginal tax rate plus budget repair and Medicare levies. 4 Any excess over your untaxed plan cap amount (which is up to $1,355,000 for the 2014/15 financial year) is taxed at 47% plus Medicare levy. 5 For the 2014/15 financial year. Tax file numbers (TFN) It s important we have your TFN. You don t have to give it to us, but if you don t: we can t accept any after-tax contributions from you you may pay more tax on pre-tax contributions (eg. salary sacrifice) or on withdrawals, than you would otherwise it might be difficult to find super funds you may have forgotten about, and to combine your super in one account. Your employer should provide your TFN to us unless you instruct them not to do so. We re legally authorised to collect your TFN. And of course we ll keep it confidential and only use it for lawful purposes, including: finding or identifying your super funds calculating tax on any superannuation lump sums providing your TFN and other information to the ATO Connelly Temple Super Savings Plan Product Guide 33

36 Taxation information (continued) providing your TFN to your future super fund trustee or retirement savings account provider if you re transferring your account. We won t pass on your TFN to another super fund if you write and tell us not to, and we won t disclose your TFN to anyone else. It s easy to give us your TFN. If we didn t receive it when you joined SSP, you can submit your TFN to us online, by or by phone. Our contact details are on the back page of this Product Guide. Refund of excess contributions tax If you made a contribution and were charged additional tax on it because we didn t have your TFN, we may be able to refund the additional tax paid if you provide us with your TFN within three years of the end of the financial year in which the contributions were made. Any refund will not be payable until the Fund recovers the amount from the ATO. Goods and services tax (GST) Any expenses that we incur from administering the Fund may be subject to GST. To the extent that we can claim a credit for the GST paid, we may pass the benefit on to you. Tax and government charges Taxes, duties and levies incurred by the Trustee are recovered directly from the assets of the investment options (where the expenses are investment costs) before determining unit prices or from your account. The Trustee deducts an amount from your account for contributions tax on concessional contributions at the applicable tax rate of 15%. The total amount of contributions tax for the Fund is calculated at the end of the financial year. The amount is reduced by deductions allowable to the Fund. For example, a deduction allowable to the Fund is the total amount the Fund pays for insurance fees. Therefore the total amount of contributions tax which is remitted to the ATO may be less than the aggregate amount which has been deducted from relevant members accounts. The Trustee retains any excess amount deducted for contributions tax and may use this amount for authorised purposes including to cover expenses incurred in the proper administration, management or maintenance of the Fund. 34 Asteron Life

37 Insurance What options are available? Type of What does the cover provide? cover Death only A lump sum payment when you die (or earlier if you become terminally ill). Death and Total and Permanent Disablement (TPD) Income Protection A lump sum payment when you die or become totally and permanently disabled. A monthly benefit to replace up to the lower of 75% of your salary * or $10,000 per month for a period of time if you are totally disabled due to sickness or injury for longer than the nominated waiting period. A partial benefit may also be payable if you return to work in a reduced capacity. For more information about partial disability, please see Payment of Income Protection benefits when totally disabled and partially disabled later in this section of the Product Guide. * Plus an additional superannuation contribution component of up to 10% pa of salary if selected. Trustee Minimum Cover If you are a MySuper member, you will be automatically provided with Death and TPD on an opt out basis, provided: you are at work on the day your cover was intended to commence (please see Limitations and definitions on page 41 for the definition of at work ) and we receive your personal details and enough employer contributions into your account to pay all due insurance fees within 130 days of commencement of employment. If we have not received: your details, and an initial employer contribution sufficient to pay any due insurance fees within 130 days of commencement of employment, The standard MySuper design for Trustee Minimum Cover is as follows: Death and TPD cover: $250 x (56 age at last review date). Additional Death Only cover: $1500 x (65 age at last review date). The amount of cover you receive will automatically alter in line with your age at each review date. If your occupation is not known at the time of being provided with automatic cover under the MySuper design, we may still award Trustee Minimum Cover but will calculate your insurance fees based on assumptions about your occupation. Insurance fees for your Death only cover will use the loading for Heavy Blue Collar workers. Insurance fees for your Death and TPD cover will use the loading for Skilled Blue Collar workers. Please see the Connelly Temple Insurance Guide for more information on how the ratings work and how they affect your insurance fees. If your smoker status is not known at the time of you being provided with automatic cover under the MySuper design, we will calculate your insurance fees assuming that you are a smoker. If either of these assumptions is not correct, it is important that you tell us so we can correctly calculate your insurance fees. If you are in a non-insurable occupation for Death or TPD insurance cover, we will cancel your insurance cover as at the date your cover commenced. If we do not receive details about the number of hours you work per week, we may still award Trustee Minimum Cover for TPD. If you are not employed for at least 15 hours per week when you claim, the definition of TPD that applies to you may be restricted. If you are not at work on the cover commencement date, you will only be eligible for new events cover until such time as you have been at work performing all the normal duties of your regular occupation for a period of 60 consecutive days, at which time you will be eligible for all events cover. you will not be provided with any cover without completing an Insurance application form and receiving written acceptance from Suncorp Life. Connelly Temple Super Savings Plan Product Guide 35

38 Insurance (continued) Voluntary Insurance cover With SSP, you have the flexibility to add Income Protection cover and apply for increased cover above Trustee Minimum Cover, enabling you to tailor insurance to your needs. This is called voluntary cover in this Product Guide. To tailor your insurance cover to your personal needs, simply complete an Insurance application form. Acceptance of voluntary cover is not automatic and is subject to assessment by Suncorp Life. Death only or Death and TPD 1 You can choose cover based on: a fixed sum insured (eg. $100,000) Income Protection You can choose cover based on: a monthly benefit 2 a benefit period of 2 years a waiting period of 30 or 60 days. 1 The amount of TPD cover chosen cannot be higher than the amount of Death cover. 2 You may be able to choose an additional optional superannuation contribution component of up to 10% pa of your salary. Payment of this benefit must be made to a complying superannuation fund. You can apply for cover by completing the Insurance application form. Suncorp Life reserves the right to decline an application for insurance cover or to apply a price loading or special terms to any cover. If accepted, any insurance cover will commence as follows: Where Suncorp Life accepts cover at standard insurance fee rates and on standard terms and there is enough money in your account to pay the first month s insurance fee, cover will start from the date that Suncorp Life advises. Suncorp Life will provide written notice to you of this date. Where standard insurance fee rates or terms are not available: Suncorp Life will provide written notice to you of these non-standard rates and terms or why terms are not available. You must then tell Suncorp Life in writing within 30 days of this notice if these non-standard rates and terms are acceptable to you. If you do not, then the requested cover will not commence and you will need to reapply if you would like cover at a later date. If you advise Suncorp Life within 30 days that the non-standard rates and terms are acceptable to you and Suncorp Life accepts your application in writing, cover will start from the date Suncorp Life advises. This is provided there is enough money in your account to pay the first month s insurance fee. Suncorp Life will provide written notice to you of this date. Insurance cover costs and rates What does insurance cost? The cost of insurance will vary depending on several factors as outlined in the table below. Trustee Minimum Cover Voluntary Cover Type of cover Amount of cover Your age next birthday Your smoking status Your health Your occupation Your hazardous pursuits Your gender (Death only and Death and TPD) Your gender (Income Protection) Chosen waiting period (Income Protection) Rates The applicable insurance fee rates are set out in the Connelly Temple Insurance Guide. All cover is charged at individual rates. When are insurance fees deducted? Regular insurance fees are deducted monthly in advance. However, the first deducted insurance fee may be higher than the regular amount as it may cover a period greater than one month. This amount will be deducted at the end of the month in which your cover is activated. Insurance fees are deducted proportionally across your non-suncorp Lifestage investment options. Once you no longer have sufficient funds available in your non- Suncorp Lifestage investments, your insurance fees will be paid directly from the Suncorp Lifestage Fund. 36 Asteron Life

39 When does cover start? Suncorp Life reserves the right to decline an application for insurance cover or to apply an insurance fee loading or special terms to any cover. What should you do with any existing cover? If you have any existing insurance cover in place outside of SSP, we recommend you speak to your plan s adviser and consider maintaining that cover, where you can, at least until we have advised you that your request to be covered through SSP has been accepted. If you are uncertain about your insurance requirements, you can speak to your plan s adviser. Must I have insurance cover? Any insurance cover provided through SSP is optional. This includes any automatic levels of Trustee Minimum Cover. You can cancel or reduce your cover at any time by advising us in writing. If you cancel or reduce your cover within 30 days of receiving your confirmation of membership, we will refund all fees deducted from your account. If you cancel or reduce your cover after the 30 day period, we will cancel cover and stop deducting fees or reduce cover and change the fees payable from the date we receive your written instructions. Should you wish to reapply for cover at a later date, you will need to provide satisfactory health evidence and will not be granted that cover until Suncorp Life has provided written acceptance. When does cover stop? The table below details when cover may be stopped. Your cover will stop at the earliest time of one of these happening: 1 Scenario Death TPD Income Protection You: Reach age 65 2 Reach age 70 2 Request in writing to have your cover cancelled Receive a payment for TPD Receive a Terminal Illness payment 3 Leave SSP Die No longer meet the eligibility conditions of your plan Cease to be engaged in an occupation for which cover is available from Suncorp Life Leave your employment and continuation of cover is not requested or is declined Cease to be employed for 15 hours or more per week 4 Do not have enough money in your account to meet your insurance fees when they fall due 5 Commence active duty with the armed forces of any country 6 Take unpaid leave or work overseas and Suncorp Life has not agreed to cover you for this period in writing 7 1 Cover will also cease on the date the policy issued by the Insurer to the Trustee is terminated. 2 TPD Trustee Minimum Cover ceases when you reach age 56. Death Trustee Minimum Cover will cease when you attain age Death benefits will reduce by any terminal illness benefit paid. 4 TPD cover will not stop if you cease being employed for 15 hours or more per week. However, the requirements for receiving a TPD benefit will change. Please see the definition of totally and permanently disabled on page 43 of this Product Guide. 5 For further information, please see Pending lapse notification for non-payment below. Connelly Temple Super Savings Plan Product Guide 37

40 Insurance (continued) 6 This does not include regular activities of the Navy, Army or Air Force Reserves. 7 For further information, please see Overseas cover and leave without pay below. Overseas cover and leave without pay Before departing overseas or taking leave without pay, you will need to get written confirmation from Suncorp Life for all cover types to continue. Cover may be subject to an additional insurance fee. For further details, please contact us on If you take unpaid maternity/paternity leave approved by your employer, your Death only or Death and TPD cover will continue, subject to the payment of insurance fees, for up to 12 months without obtaining written confirmation from Suncorp Life. A request for cover to continue beyond any agreed period requires written approval from Suncorp Life prior to the end of that period. Pending lapse notification for non-payment If you do not have enough money in your account to pay for your monthly insurance fees when it falls due, we will write to you and tell you that your insurance is about to be cancelled. You will then have 60 days to pay the outstanding insurance fees. If these insurance fees remain outstanding at the end of this time, we will cancel the insurance cover. If you subsequently wish to restart your cover, you will need to reapply, subject to any terms and conditions that Suncorp Life may impose at that time. This will include providing personal details and satisfactory health evidence. You may also be required to undergo a medical examination or any other requirements deemed necessary by Suncorp Life. Any insurance cover may then be subject to increased insurance fees, or other special conditions, or may be declined altogether. Making a claim You can only make a claim if the event first happens while you are a member of SSP and your cover is in force. You must make your claim to us in writing as soon as it is reasonable to do so but no later than: twelve months for a TPD claim and one month for an Income Protection claim from the time of the event giving rise to the claim. 38 Asteron Life If you make a claim later than this, we may reduce the amount paid, or not pay any benefit at all, if the delay is prejudicial to Suncorp Life. Taxation implications should be considered before you withdraw benefits. We recommend that you discuss these implications with your plan s adviser. Death If you die while covered, any death benefit amount payable will be paid into your SSP account and will be invested in the Ibbotson Cash Trust. The Trustee will generally pay the benefit to one or more of your dependants and/or your estate. If a binding nomination is valid then the Trustee must pay the benefit in accordance with this nomination. In some circumstances, death benefits can also be paid as a pension* (enabling the benefit to be retained in the tax advantaged superannuation system) to dependants (under taxation law), instead of or in combination with a lump sum. * Your dependant should arrange this with their financial adviser. Terminal illness If you re covered and become terminally ill, we ll pay you an early payment of your death benefit. The terminal illness benefit is the lesser of: Your death benefit, or $2 million or 8 times salary. Your Death cover will be reduced by the amount of terminal illness benefit paid out. If you re covered for both Death and TPD, your TPD cover will stop when we pay you the terminal illness benefit. TPD If a TPD insured benefit is paid, we will credit the proceeds to your SSP account and will be invested in the Ibbotson Cash Trust. You must satisfy a condition of release under superannuation law to receive the proceeds (less any tax). For more information about when you satisfy a condition of release, please read When have you met a condition of release? on page 10 of this Product Guide. Income Protection You must meet the definition of totally disabled or partially disabled to receive an Income Protection benefit. Income tax is payable on any Income Protection benefits received by you. Income Protection benefits are paid monthly in arrears. If you are covered for superannuation contributions, any amounts will be paid into your superannuation account and will be subject to the normal charges applying to your contributions and be fully preserved.

41 Cover rules Below is a summary of the rules that apply to both Trustee Minimum Cover and voluntary insurance cover. Your plan s adviser can help with any applications for insurance cover. Rule Death TPD Income Protection Minimum entry age for cover Maximum entry age for cover Minimum hours of work required to obtain cover Age at which cover stops Maximum amount of voluntary cover Minimum amount of voluntary cover (55 for Trustee Minimum Cover) Nil 70 (or earlier if a TPD claim is paid); 65 for Trustee Minimum Cover Lesser of $2 million or 12.5 times your salary ($2 million or 8 times your salary for terminal illness) Must be employed for at least 15 hours per week 65 (56 for Trustee Minimum Cover) Lesser of $2 million or 8 times your salary 2 The amount of TPD cover chosen cannot be higher than the amount of Death cover $20,000 $20,000 No minimum 59 Must be employed for at least 15 hours per week 65 Lesser of 3 :75% of your salary plus an additional optional superannuation contribution component of up to 10% pa of salary or $10,000 per month 1 If cover exceeds the maximum amount, the excess cover will not be provided and insurance fees paid in respect of that excess cover will be refunded. 2 Where TPD cover from all insurers operating in Australia is more than $2 million (Trustee Minimum and voluntary cover combined), we may reduce any TPD benefit from SSP so that the total cover provided by SSP and these insurers together is $2 million. 3 Monthly benefits can be reduced in certain circumstances. For more information, please see Reduction of Income Protection disability benefits on page 40 of this Product Guide. Payment of the optional superannuation component of this benefit must be made to a complying superannuation fund. Recurring disability If you suffer total disability or partial disability from the same or related injury or sickness within six months of Suncorp Life having paid you an Income Protection benefit under the policy, then Suncorp Life will consider it a continuation of the previous claim and the waiting period will not apply. However, the maximum claim period will be adjusted to take into account prior claim payments. You still need to be eligible for cover at the date of the recurring disability to be covered for this benefit. If you make another claim which arises from the same or a related cause as a previous claim, the new claim will be treated as a separate claim if it occurred after you have returned to work (and been at work ) for six consecutive months. Payment of Income Protection benefits when totally disabled and partially disabled Totally Disabled If you have Income Protection cover and have been continuously totally disabled for longer than the waiting period, the total disability benefit will begin to accrue from the day after the end of the waiting period subject to: If, during the waiting period, you return to gainful employment for five days or less, the waiting period will not recommence. However, the number of days you were employed will be added to your waiting period to calculate when benefits begin to accrue. If, during the waiting period, you return to gainful employment for more than five days, the waiting period will begin again. If Suncorp Life has paid benefits on your behalf for the full two-year benefit period, you must return to permanent full-time or permanent part-time employment and meet the eligibility criteria set by Suncorp Life as set out in the table on page 39, before insurance cover would restart. In this situation, insurance cover would not apply again for a recurrence of the condition, which caused the earlier claim payment. Connelly Temple Super Savings Plan Product Guide 39

42 Insurance (continued) The benefit is payable until the earliest of: the date you cease to be totally disabled the end of the two year benefit period the date of your death the date of your 65th birthday. Partially Disabled When you are partially disabled, before the total disability benefit has been paid for a claim arising from the same or related cause for the full two-year benefit period, the partial disability benefit starts to accrue from the day you are no longer totally disabled or the day after the end of the waiting period, whichever is later. The benefit payable in respect of partial disability is calculated as follows: Where: Insured total disability benefit x (A - B) A = pre-disability earnings and A B = the greater of your monthly earnings or the monthly amount you are capable of earning (assuming you are employed ) for the month that the partial disability benefit is payable. The partial disability benefit is payable monthly in arrears and stops at the earliest of: Social Security benefits or entitlements and/or benefit payments from the Department of Veterans Affairs benefit payments under a statutory accident compensation scheme income payments (including commutation amounts) under any disability, injury or sickness insurance policy and sick leave. Any of the above payments made by way of a lump sum will be converted to a monthly equivalent payment at the rate of 1/60th of the lump sum per month. Waiver of insurance fees We will stop deducting Income Protection insurance fees from your account in the month that you start to receive the benefit. We will recommence deducting the insurance fees in the month that we stop paying the benefit. SSP s Policy Document Insurance cover offered though SSP is provided by Suncorp Life in a policy issued to the Trustee. This policy document contains the full terms and conditions of this insurance. You can obtain a copy of the Connelly Temple Insurance Policy, free of charge, by contacting us on the date you cease to be partially disabled the end of the two year benefit period, including any period for which a benefit payment has been paid for a total disability benefit from the same or a related cause the date of your death the date of your 65th birthday. Reduction of Income Protection disability benefits If a total disability or partial disability benefit is payable to you, then the insured monthly benefit in respect of total disability, or the appropriate proportion of the insured monthly benefit in respect of partial disability, as the case may be, will be reduced by other payments received by you, or by your employer in respect of you, by way of: workers compensation or equivalent payments in respect of loss of income (whether under legislation or otherwise) 40 Asteron Life

43 Limitations and definitions Limitations The following limitations apply to insurance cover or the payment of benefits: Income Protection benefits will not be paid for disablement resulting from pregnancy, childbirth or miscarriage, unless you are disabled for more than three months from either the date your pregnancy finishes or the date your disability starts, whichever is later. The date of disability will be taken as starting at the later date. If you are disabled as a result of an accident, which has no relationship to your pregnancy, this limitation will not apply. No benefit will be paid if the event giving rise to a claim is caused directly or indirectly by you engaging in a criminal act. No Income Protection benefit will be paid while you are imprisoned. No Income Protection benefit will be paid if the event giving rise to a claim is caused directly or indirectly by war. No Income Protection benefit will be paid if the event giving rise to the claim occurs during a period you are unemployed. If for any reason you have more than one membership of SSP, you can have an insured benefit under only one membership. No Income Protection insurance fees will be rebated if you have cover for an amount greater than is justified by your salary or have not notified us that you have ceased being employed for a minimum of 15 hours per week. It is your responsibility to notify us if this situation occurs. Evidence of salary will be requested at the time of the claim. No Income Protection or TPD benefit will be paid if your disability is caused directly or indirectly by a selfinflicted act whether sane or insane. No Death benefit will be paid if you die from suicide or an intentional self-inflicted act, within 13 months of: the risk being accepted by Suncorp Life any increase in cover (but only in respect of the increase) or the risk being reinstated by Suncorp Life after lapsing. In the event of war involving Australia, or any country of your residence, Suncorp Life may increase your Death only or Death and TPD cover insurance fees. If the additional insurance fees are not paid, the insured benefit amount will be reduced to the amount of cover that can be purchased by the amount of insurance fees paid. Connelly Temple Super Savings Plan Product Guide 41

44 Insurance (continued) Definitions Term All events cover At work Benefit period Employed Essential duties Injury Medical practitioner Monthly earnings New events cover Partially disabled Definition means, in accordance with all other terms and conditions of the policy, cover for death or total and permanent disability arising from a sickness or injury regardless of the date the sickness or injury became apparent. means you are actively performing all the essential duties of your regular occupation, are not absent from work because of sickness or injury, and are not in receipt of and/or entitled to claim income support benefits from any source including workers compensation benefits, statutory transport accident benefits and disability income benefits. Where you are on approved leave you must be capable of performing all the duties of your regular occupation had you not been on approved leave. If you do not meet these requirements, you are correspondingly described as not at work. means the maximum period of time for which a benefit will be payable. means being gainfully employed or self-employed for income or reward in any business, trade, profession, vocation, calling or employment on a permanent basis. means the duties of your regular occupation which could reasonably be considered primarily essential to producing your salary. The way you perform these duties will be taken into account when deciding what your essential duties are. means an accidental or intentional bodily injury suffered by you while you are insured for the relevant benefit under SSP. means a person who is legally qualified and properly registered to practice medicine, other than: you any of your business partners or associates your spouse (including legal spouse, de facto or same-sex partner), parent (including parent-in-law), or child. If practising other than in Australia, the medical practitioner must have qualifications acceptable to the Insurer. mean your earned income during a month in which you are partially disabled. means, in accordance with all other terms and conditions of the policy, cover for death and Total and Permanent Disablement arising from a sickness which first becomes apparent or an injury which first occurred on or after the commencement of Trustee Minimum Cover. means that, because of sickness or injury, you: have been totally disabled for at least the qualifying period stated below: Waiting period 30 days 60 days Qualifying period to be partially disabled 14 consecutive days 30 consecutive days would be totally disabled except that you are performing, or are capable of performing, one or more of the essential duties of your regular occupation, or are working in another occupation and have monthly earnings which are less than your pre-disability earnings because of your disability and are following the advice of a medical practitioner (acceptable to Suncorp Life). If you become a member of the Plan on or after 1 July 2014, you must also satisfy either the temporary incapacity or permanent incapacity conditions of release under the superannuation law (refer to page 10 of this Product Guide). This additional requirement will also apply to a member who joined prior to 1 July 2014 but is provided with insurance cover for an Income Protection Benefit on or after that date. However, it does not apply to a member who is eligible for Income Protection benefit cover prior to 1 July 2014, even if we are not advised of their eligibility for it and/or membership until on or after that date. 42 Asteron Life

45 Term Pre-disability earnings Salary Sickness Terminal illness Totally disabled Totally and permanently disabled (TPD) Definition means the total monthly value of the salary received by you from your occupation at the time your total disability first occurs, averaged over the most recent 12 month period you were at work, or the actual period of work, if less. means, unless otherwise agreed in writing by Suncorp Life: If you are employed, the fixed annual cash component of income paid to you by your employer in respect of your employment. For the avoidance of doubt, salary does not include the Superannuation Guarantee Charge payable in respect of you; or If you are self-employed, that part of the income of your business due directly to your personal exertion, less that part of the expenses of the business (measured over the same period) reasonably apportionable to you, before income tax. means a sickness or disease you suffer which becomes apparent while you are insured under SSP. means two medical practitioners certify that your life expectancy is, due to sickness or injury, likely to result in your death within 12 months of the date of certification, and: at least one of the medical practitioners is a specialist in an area related to the sickness or injury ; and the period of certification for each of the certificates has not ended. means that, as a direct result of sickness or injury, you are not capable of doing the essential duties of your occupation and are: not working in any occupation not earning income from any other source (other than purely investment income), that involves physical or intellectual exertion by you and being treated at least monthly (unless otherwise agreed by Suncorp Life) by a medical practitioner and are following the advice and treatment recommendations of that person. If you become a member of the Plan on or after 1 July 2014, you must also satisfy either the temporary incapacity or permanent incapacity conditions of release under the superannuation law (refer to page 10 of this Product Guide). This additional requirement will also apply to a member who joined prior to 1 July 2014 but is provided with insurance cover for an Income Protection Benefit on or after that date. However, it does not apply to a member who is eligible for Income Protection benefit cover prior to 1 July 2014, even if we are not advised of their eligibility for it and/or membership until on or after that date. means either: a. you are employed for 15 hours or more per week at the time of the event giving rise to the claim, and you have been absent from employment through sickness or injury for six consecutive months and we are satisfied that you are incapacitated to such an extent that you are unlikely ever to be able to resume work or attend any gainful profession or occupation for which you are suited by reason of your education, training or experience or b. you suffer the loss of both feet or both hands or both eyes; or any combination of two of, a hand, a foot or an eye; where loss means the total and permanent loss of the use of the hand or foot from the wrist or ankle joint, or sight in the eye or c. you are not employed for 15 hours or more per week at the time of the event giving rise to the claim, and are constantly and permanently unable to perform two or more activities of daily living without the physical assistance of someone else. Definitions of activities of daily living are: bathing and showering dressing and undressing eating and drinking maintaining of continence with a reasonable level of personal hygiene getting in and out of bed, a chair or wheelchair or moving from place to place by walking, wheelchair or walking aid. If you can perform the activity on your own by using special equipment, we will consider you able to perform that activity. Connelly Temple Super Savings Plan Product Guide 43

46 Insurance (continued) Term Totally and permanently disabled (TPD) (continued) Waiting period War Definition If you become a member on or after 1 July 2014 then, in addition to satisfying one of the above definitions a, b or c (whichever applies), the Insurer must have also determined that, after consideration of medical and any other evidence it is reasonably satisfied that your ill health (whether physical or mental) makes it unlikely that you will engage in gainful employment for which you re reasonably suited by education, training or experience. This additional requirement will also apply to a member who joined prior to 1 July 2014 but is provided with insurance cover for Total and Permanent Disablement on or after that date. However, it does not apply to a member who is eligible for Total and Permanent Disablement insurance cover prior to 1 July 2014, even if we are not advised of their eligibility for it and/or membership until on or after that date. means the nominated number of consecutive days during which you have to remain totally disabled or partially disabled before receiving Income Protection benefits. includes, but is not limited to, declared or undeclared war and armed aggression by one or more countries resisted by any country, combination of countries or international organisations. Non-participating policy This policy is a non-participating policy. As a result you do not have any right to any surplus in the statutory fund. Duty of Disclosure The Trustee has a duty, under the Insurance Contracts Act 1984, to disclose to the insurer every matter that it knows, or could reasonably be expected to know that is relevant to the insurer s decision whether to accept the risk of the insurance and, if so, on what terms. The Trustee has the same duty to disclose those matters to the insurer before it renews, extends, varies or reinstates a contract of life insurance. This duty, however, does not require disclosure of a matter: that diminishes the risk to be undertaken by the insurer that is of common knowledge that the insurer knows, or in the ordinary course of their business, ought to know as to which compliance with your duty is waived by the insurer. It is a condition of your membership in the Fund that you discharge the same duty of disclosure to the Trustee. Non-disclosure If you fail to comply with your duty of disclosure and the insurer would not have entered into the contract on any terms if the failure had not occurred, the insurer may avoid the contract within three years of entering into it. If the non-disclosure is fraudulent, the insurer may avoid the contract at any time. An insurer who is entitled to avoid a contract of life insurance may, within three years of entering into it, elect not to avoid it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the insurance fees that would have been payable if you had disclosed all relevant matters to the insurer. This duty continues to apply until the insurer notifies you that the risk has been accepted. 44 Asteron Life

47 What happens when you leave your employer? Just because you ve left your employer doesn t mean you need to change your super, making it one less thing you need to worry about. Provided your account balance isn t zero, your super will automatically remain invested in SSP allowing you to keep the valuable benefits in the table below. We ll also provide you with the information you need so that your new employer can contribute to your SSP account on your behalf. When we are notified you have left employment, we ll write to you, explaining your options along with a Benefit Questionnaire. This allows you to provide updated personal details to us. Once we receive your completed questionnaire, your insurance fee may be reviewed and changed, depending on the information provided. To ensure you are paying the correct insurance fee amount, you should return the Benefit Questionnaire to us. Eg. if you confirm that you are a non-smoker and have not smoked in the last twelve month period, then reduced nonsmoker rates will be applied. What happens to your Investment options Insurance cover You continue to be invested in the same investment options, unless you tell us otherwise. Death and TPD cover Your Death and TPD cover will continue automatically, provided you haven t reached the age where cover ceases and meet the eligibility conditions for employee selected cover. Your insurance cover will be fixed at the dollar amount of your insurance that applied at the time you left your employer. Insurance fees Insurance fees for your Death and TPD cover will now be based on individual insurance rates (instead of any standard rates that you may have been charged previously). These will be smoker rates unless you provide written confirmation that you are a non-smoker. Any special conditions and/or insurance fee loadings applying to your employer selected cover will continue to apply (unless reduced or removed by the Insurer in writing). Income Protection cover When you leave your employer, provided you re under age 60 and still working at least 15 hours a week, you can apply to continue your Income Protection insurance. You must apply within 30 days of: leaving your employer your employer notifying us that you have left their employment whichever is later. You need to complete a Benefit Questionnaire, which includes information on your current occupation, smoker status and any hazardous pursuits. If your occupation is acceptable to Suncorp Life your cover will continue, regardless of your health. Employees in some occupational classes will not be able to continue their cover. Any insured amount continued for you will be equal to the dollar amount of your insurance cover at the time you left employment or a benefit amount applicable to your new salary, whichever is less. Insurance fees All insurance fees will be based on individual rates for Income Protection (instead of any group rates that you may have been charged previously). To ensure you are paying the correct insurance fee amount, you should return the benefit questionnaire to us. If you apply to continue your Income Protection cover and your application is accepted, insurance fees will be based on individual rates. Individual insurance fees vary according to the factors set out in the Insurance section. Fees The same fee structure will apply to your account. Additionally, when you leave your employer, any fees which were agreed between your employer and your plan s adviser may now be agreed between you and your plan s adviser. Connelly Temple Super Savings Plan Product Guide 45

48 Other things you need to know This section provides you with important, yet often overlooked information about your super investment in SSP. Do yourself a favour consolidate your super If you ve had a few jobs, you ve probably got a few different super accounts. One of the easiest ways to simplify your finances, and potentially boost the amount of money you ll have when you retire, is to combine multiple super accounts into one. Consolidating your accounts is easy, and we can help you. You can even do most of it online using our Super Rollover Wizard visit asteronlife.com.au/combineyoursuper to get started. Before consolidating, we recommend you contact your other super funds to find out if any exit fees are payable and how your insurance arrangements may be affected. If you require further information or professional advice, we recommend you consult a financial adviser or give us a call. Think you may have lost super? If you ve had more than one job, moved house or changed your name, you could have lost super. We can help you find missing super. Simply visit our website for information or give us a call. Unclaimed money Your account balance will be paid to the ATO if: you re age 65 or over and we haven t received a contribution or rollover for two years and we ve been unable to contact you for five years, or you re a lost member and your account balance is less than $2,000 or we haven t received a contribution or rollover for 12 months (and it is not possible to pay to you). A lost member is one that cannot be contacted, an inactive member or a member transferred from another super fund as a lost member. Any person who has a claim to your benefit will then need to contact the ATO. Eligible rollover fund If we lose contact with you or your super balance falls below $1,000 we may transfer your super to an eligible rollover fund (ERF). If your super is transferred to the ERF, you ll no longer be a member of SSP and any insurance cover you have will stop. We ve selected SMF Eligible Rollover Fund as our ERF. You can contact them by: Post SMF Eligible Rollover Fund GPO Box 529 Hobart TAS 7001 Phone Fax @ioof.com.au For investment options, features and details of what is available to you under the SMF Eligible Rollover Fund please refer to their Product Disclosure Statement. Get involved in your plan Do you want to be part of the decision-making process and management of your plan? A policy committee allows members to provide feedback to us on the operation of the plan. Your employer should set up a policy committee if there are 50 or more members in your plan. For smaller plans, you can still set up a policy committee if five or more members request it in writing. Your annual statement will show if a policy committee is established for your plan. Transfer of benefits for temporary residents The ATO may instruct us to transfer the benefits of temporary residents to the ATO if: a temporary resident has left Australia and their temporary visa expired/ceased more than six months prior. If we re instructed to transfer your benefits to the ATO, your account will be closed. We re not required to issue an exit statement under these circumstances as it s unlikely to reach you. Once your benefit is transferred to the ATO, it can only be accessed if you meet a condition of release. 46 Asteron Life

49 Trans-Tasman portability Under the Trans-Tasman portability scheme arrangement, we are able to transfer your entire super account balance from Australia to a New Zealand KiwiSaver scheme provided certain pre-conditions are met. We don t currently accept transfers from KiwiSaver accounts. Please see our website asteronlife.com.au for more information. Intra-fund Consolidation We are required to undertake a process called Intrafund Consolidation on an annual basis, which means we will identify members who have more than one SSP account with us and determine if it is in the member s best-interest to consolidate accounts into a single SSP account. We will provide advance notice of any change to a member s super accounts. Please see our website asteronlife.com.au for more information. Relationship breakdown Your SSP account may be split with your spouse as a result of relationship breakdown. This can be done either by court order or by agreement between you and your spouse. The splitting of super benefits as a result of relationship breakdown or divorce may have tax consequences. For further information on family law issues, please speak to your legal adviser. Trust Deed, governing rules and provisions SSP is governed by the Trust Deed which you can get free of charge, by contacting us. The Trust Deed, combined with the PDS and any material incorporated by reference (including this Product Guide) relevant laws and certain information and communications sent to you by us set out the governing rules and provisions by which we must operate and your rights as an SSP member. We welcome your feedback If you have any feedback, we d like to hear from you. You can find details on how to contact us on the back cover of this booklet, or on the front cover of the PDS. This also includes any issues or complaints you may have. We make every effort to ensure your complaints are resolved satisfactorily and quickly. However, if your complaint isn t answered within 90 days, or you re not satisfied with the way it was handled, you may take your complaint to the Superannuation Complaints Tribunal (SCT). The SCT is an independent tribunal set up by the Government to help with the resolution of super complaints. You can contact the SCT by: Post Superannuation Complaints Tribunal Locked Bag 3060 Melbourne VIC 3001 Phone Visiting online sct.gov.au We re also a member of the Financial Ombudsman Service (FOS). You can generally refer complaints outside the SCT s authority to FOS. Our member number is You can contact FOS by: Post Financial Ombudsman Service GPO Box 3 Melbourne VIC 3001 Phone Visiting online fos.org.au Anti-Money Laundering and Counter-Terrorism Financing The Anti-Money Laundering and Counter-Terrorism Financing legislation requires us to collect and verify information about your identity and monitor transactions on accounts held with us. If we request personal information about you and you do not provide it, we may not be able to provide you with the financial product or service that you request, or provide you with the full range of services we offer. What happens if your application is incomplete? If your employer s application is incomplete or unclear, we may hold your money for up to 30 days. If we don t receive additional information or a completed application form within this timeframe, from your employer, we ll return the money to whoever paid it to us without any interest. Your money will only be invested once a properly completed application form is received. The value you receive will be based on the relevant unit price at that time. Connelly Temple Super Savings Plan Product Guide 47

50 Other things you need to know (continued) Superannuation Privacy Statement Your privacy is important We are a member of the Suncorp Group, which we ll refer to simply as the Group. Why do we collect personal information? Personal information is information or an opinion about an identified individual or an individual who is reasonably identifiable. We collect personal information so that we can: identify you and conduct appropriate checks; understand your requirements and provide you with a product or service; set up, administer and manage our products and services; assess and investigate a right exercised by you under one or more of our products; determine eligibility for family discounts where applicable; manage complaints and disputes and report to dispute resolution bodies; manage, train and develop our employees and representatives; and get a better understanding of you, your needs, your behaviours and how you interact with us, so we can engage in product and service research and development including managing the delivery of our services and products via the ways we communicate with you. What happens if you don t give us your personal information? If we ask for your personal information and you don t give it to us, we may not be able to provide you with any, some, or all of the features of our products or services. How we handle your personal information We collect your personal information directly from you and, in some cases, from other people or organisations. We also provide your personal information to other related companies in the Group, and they may disclose or use your personal information for the purposes described in Why do we collect personal information? in relation to products and services they may provide to you. They may also use your personal information to help them provide products and services to other customers, but they ll never disclose your personal information to another customer without your consent. Under various laws we will or may be authorised or required to collect your personal information. These laws include the: Australian Securities and Investments Commission Act 2001, Superannuation Industry (Supervision) Act 1993, Corporations Act 2001, Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1), Income Tax Assessment Act 1997, Taxation Administration Act 1953, Superannuation Guarantee (Administration) Act 1992, Small Superannuation Accounts Act 1995, Superannuation (Unclaimed Money and Lost Members) Act 1999, Superannuation (Resolution of Complaints) Act 1993, Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and Family Law Act 1975 (Part VIIIB), as those acts are amended and any associated regulations. From time to time other acts, may require, or authorise us to collect your personal information. We will use and disclose your personal information for the purposes we collected it as well as purposes that are related, where you would reasonably expect us to. We may disclose your personal information to and/or collect your personal information from: other companies within the Group and other trading divisions or departments within the same company (please see our Suncorp Group Privacy Policy for a list of the companies); any of our Group joint ventures where authorised or required; customer, product, business or strategic research and development organisations; data warehouse, strategic learning organisations, data partners, analytic consultants; social media and other virtual communities and networks where people create, share or exchange information; a third party that we ve contracted to provide financial, legal or professional services, financial products or administrative services for example: information technology providers; administration or business management services, consultancy firms, auditors and business management consultants; marketing agencies and other marketing service providers, claims management service providers; print/mail/digital service providers, and imaging and document management services; 48 Asteron Life

51 any intermediaries, including your agent, adviser or other representative or person acting on your behalf, other Australian Financial Services Licensee or our authorised representatives, advisers, and our agents; a third party claimant or witnesses in a claim; the Superannuation Complaints Tribunal or any other external dispute resolution body; an employer, trustee or custodian associated with membership of a superannuation fund, investment/ managed fund or life insurance policy; government, statutory or regulatory bodies and enforcement bodies; policy or product holders or others who are authorised or noted on the policy as having a legal interest, including where you are an insured person but not the policy or product holder; other insurers, reinsurers, insurance investigators and claims or insurance reference services, financiers; and hospitals and medical, health or wellbeing professionals. We ll use a variety of methods to collect your personal information from, and disclose your personal information to, these persons and organisations, including written forms, telephone calls and via electronic delivery. We may collect and disclose your personal information to these persons and organisations during the information life cycle, regularly, or on an ad hoc basis, depending on the purpose of collection. Overseas Disclosure Sometimes, we need to provide your personal information to or get personal information about you from persons located overseas, for the same purposes as in Why do we collect personal information? The countries we usually disclose your personal information to have been outlined on our website suncorpgroup.com.au/privacy or you can give us a call and we will provide a copy. From time to time, we may need to disclose your personal information to, and collect your personal information from, other countries not on this list. Nevertheless, we will always disclose and collect your personal information in accordance with privacy laws. Your personal information and our marketing practices Every now and then, we and any related companies that use the Asteron Life brand might let you know including via mail, SMS, , telephone or online about news, special offers, products and services that you might be interested in. We will engage in marketing unless you tell us otherwise. You can contact us to update your marketing preferences at any time. In order to carry out our direct marketing we collect your personal information from and disclose it to others that provide us with specialised data matching, trending or analytical services, as well as general marketing services (you can see the full list of persons and organisations under How we handle your personal information ). We may also collect your personal information for marketing through competitions. We, and other people who provide us with services, may combine the personal information collected from you or others, with the information we, or companies in our Group, or our service providers already hold about you. We may also use online targeted marketing, data and audience matching and market segmentation to improve advertising relevance to you. How to access and correct your personal information or make a complaint You have the right to access and correct your personal information held by us and you can find information about how to do this in the Suncorp Group Privacy Policy. The Policy also includes information about how you can complain about a breach of the Australian Privacy Principles and how we ll deal with such a complaint. You can get a copy of the Suncorp Group Privacy Policy. Please use the contact details in Contact Us. Contact us For more information about our privacy practices including overseas disclosure or to tell us about your marketing preferences visit our website asteronlife.com.au/privacy or give us a call on Connelly Temple Super Savings Plan Product Guide 49

52 Keeping in touch We ll keep you informed of any changes we make to our products and legislative updates. We ll also provide you with your annual account details and any other news we think you d be interested in. But it s not all one way. We also make it easy for you to keep in touch with us and your super. Jump online! Get 24/7 access to your SSP account with our online service Asteron WealthSolutions. When you join, you ll automatically receive your online user ID and password. This allows you to access your account at any time through our secure site available at asteronlife.com.au Through Asteron WealthSolutions online you can: view your SSP account view and update your personal details check your account balance and investment holdings view your super contributions view transaction and correspondence history view your nominated beneficiaries view your bank account details view your insurance details generate and print a report on your account. Other available information product dashboards daily unit prices monthly investment performance reports monthly investment asset allocation reports product updates forms and other publications annual reports. And if the internet isn t for you you can always call us on or write to us: By post By Customer Service Centre GPO Box 1576 Sydney NSW 2000 [email protected] By fax Keeping you informed and up to date We ll notify you of any significant events affecting the Fund that are relevant to you as soon as possible on our website asteronlife.com.au or in writing as required by legislation. It s important we don t lose contact with you We re required to report all lost members to the ATO, which keeps a lost member s register. That s why it s important that you keep us up to date with your current address at all times as you ll be considered a lost member if we receive one piece of returned mail. Any applicable fees (including insurance fees) will continue to be deducted from your account and we may transfer the remainder of your account balance to an eligible rollover fund (ERF). For more details please see Eligible rollover fund and Unclaimed money on page Asteron Life

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56 How to contact us GPO Box 1576 Sydney NSW www [email protected] asteronlife.com.au MYSUPER AUTHORISATION NUMBER , Monday to Friday 8am to 6pm (Sydney time) AS /07/14 A