1 Energy Super Corporate Member Guide - Ergon Energy Product Disclosure Statement - Defined Contribution members Prepared and issued 1 September 2013 CONTENTS 1. About Energy Super 2 2. How super works 2 3. Benefits of investing with Energy Super 3 4. Risks of super 3 5. How we invest your money 4 6. Fees and costs 5 7. How super is taxed 6 8. Insurance in your super 7 9. How to open an account 8 Important information This is the Energy Super Corporate Member Guide Product Disclosure Statement (PDS) for Ergon Energy. This PDS is a summary of significant information about a Defined Contribution account with Energy Super. This PDS is only relevant to new Energy Super members who are employed by Ergon Energy. Other important information is contained in documents which are linked to this PDS. References to the important information contained in these documents is indicated by the logo in this PDS. The information in these documents forms part of this PDS. You should consider the information in this PDS and these other documents before making a decision about this financial product. The information in this PDS is up-to-date at the date it is issued. Some of the information in this document can change from time-to-time and may not be up-to-date at the time you receive it. If a change is not materially adverse, we may not update this PDS. Updated information about investment performance and other new information will be published on our website. We will also send you a printed copy on request at no cost. The information in this PDS and the other documents is general information only and does not take into account your personal objectives, financial situation or needs. You should consult a licensed financial adviser to obtain financial advice that is tailored to suit your personal circumstances. Energy Super has a team of financial advisers who can provide members with professional financial advice services. Energy Super s advice is provided by ESI Financial Services Pty Ltd (ESI FS) (ABN , AFSL ), a wholly owned subsidiary of Energy Super. If you would like a copy of this PDS or any of the documents referred to in this PDS please contact Energy Super on ENERGY ( ). Contact us Phone ENERGY ( ) In person Level Creek Street Brisbane QLD 4000 Fax (07) Mail Energy Super PO Box 1958 Milton QLD 4064 Website energysuper.com.au Prepared and issued by Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) (the Trustee), the Trustee for Energy Super (ABN ). Energy Super is an authorised MySuper product provider (Product Number ).
2 1. ABOUT ENERGY SUPER Energy Super is a platinum-rated 1 Public Offer industry superannuation fund established for the energy industry. As a Public Offer fund, anyone can join and therefore our employers and members are drawn from a wide variety of energy related industries covering most states in Australia. Energy Super offers superannuation and retirement income stream products and financial advice services to members. We are a complying regulated fund under legislation known as the Superannuation Industry (Supervision) Act 1993 (SIS) and are MySuper authorised. With around 49,000 members and approximately $4.6 billion funds under management, Energy Super has received the following recognition: SuperRatings Platinum Rating 1 Best Value for Money for the Fund in 2013 SelectingSuper AAA Quality Assessment 2. We have also been recognised by ratings agencies Chant West (chantwest.com.au) and Morningstar (morningstar.com.au). 2. HOW SUPER WORKS Superannuation is a partly compulsory means of saving for your retirement. The Government provides tax savings and other incentives to make super an effective way of saving for your future. What you and your employer add to your super is known as a contribution. Choosing your super fund Most people can choose which super fund they would like their employer s super contributions paid into. However, your super fund may be determined by the terms of your employment. If you don t have a choice about your super fund or don t tell your employer where to pay your super, contributions will be made to the super fund your employer has chosen. Growing your super Different types of contributions can be made into your super account. These include: Employer contributions includes Superannuation Guarantee (SG), Award or industrial agreement contributions that your employer makes for you, but can also refer to Employer Voluntary contributions such as Salary Sacrifice. Personal contributions (including self-employed contributions) you can make regular and/or one off lump sum contributions to your super account. Government Co-contributions the Federal Government will contribute to your super if you make after-tax contributions and are otherwise eligible. Spouse contributions your spouse may be able to make contributions to your account for which they may be eligible to recieve a tax offset (and vice versa). 1 Rating provided by SuperRatings Pty Ltd (ABN , AFSL ). 2 Rating provided by Rainmaker Information Pty Ltd (ABN ). Ratings are only one factor to be considered when making investment decisions. Refer to the How Do We Compare page at energysuper.com.au for information about the rating and the rating scale. Just keep in mind that the Government has placed age related caps on the annual amount of contributions that can be made to your super. You can also transfer or rollover other super accounts that you may have into Energy Super. Getting your super The Government places limitations on withdrawals from superannuation. Money contributed into superannuation is generally preserved. This means that you generally cannot access it until you have retired and have reached preservation age (between 55 and 60 depending on when you were born). However, there are some special circumstances where you can withdraw it earlier. What happens to your super when you die? When you die, the benefit payable to your beneficiaries or your Legal Personal Representative (executor or administrator of your estate) will be the balance of your Energy Super account plus any insured benefit. Energy Super may also pay an anti-detriment payment in addition to your account balance to your dependent beneficiaries. You should read the important information about Growing Your Super, Getting Your Super and What Happens To Your Super When You Die before making a decision. Go to energysuper.com.au/pds and read the Growing My Super, Getting My Super and What Happens To My Super When I Die Guides. These documents will give you more information about the different contribution types, when and how much you can withdraw from your super and nominating your beneficiaries. Please note: The material relating to Growing Your Super, Getting Your Super and What Happens To Your Super When You Die may change between the time you read this PDS and the day when you acquire the product. PDS Product Disclosure Statement I 2
3 3. BENEFITS OF INVESTING WITH ENERGY SUPER Investment choice We know that many of our members are taking more interest in how their super is invested. That is why we have provided you with ten investment options to choose from. Value for money super fund Energy Super is committed to ensuring you are getting a value for money Industry Super Fund. We are a profit for members fund, which means that after investment taxes and costs are taken out of returns, all profits are returned to our members. Flexible insurance Energy Super has a flexible insurance offering which allows members to tailor Death, Total and Permanent Disablement (TPD) and Income Protection (IP) cover to their circumstances, subject to eligibility. Energy Rewards As an Energy Super member, you have exclusive access to the member benefit program, Energy Rewards. Energy Rewards gives you discounts and offers on a range of everyday products and services. Mobile website Energy Super offers members access to their super account 24/7 via our mobile website. You can check your account balance, update your contact details, book appointments for personal over the phone advice and much more. Communicating with you Energy Super keeps you up-to-date with a range of communication material that is either sent to you or available for download from our website. Financial advice Energy Super s professional financial advisers can provide members with comprehensive financial advice on a wide range of financial matters or more limited phone based advice on a single issue. Education You can learn about your super through our range of super education materials including seminars, webinars, online tools and a dedicated member contact centre. Products for retirees Energy Super provides flexible and tax effective income stream products that will allow you to receive a regular income from your super when you retire or when you are transitioning to retirement. 4. RISKS OF SUPER All investments carry some level of risk. To help you manage your investment risk, Energy Super allows you to choose from a range of investment options. The likely investment return and the risk of losing money is different for each investment option depending on the underlying mix of asset classes. Examples of asset classes include cash, bonds, property, alternatives and shares. Those assets with potentially the highest return over the longer term (such as shares) also have the highest risk of losing money in the short term. When considering your investment in super, it is important to understand that: the value of investment options and the level of returns will go up and down returns are not guaranteed and you may lose some of your money previous returns don t predict future performance laws affecting your superannuation may change, and the amount of your superannuation savings (including contributions and investment returns) may not be enough to adequately provide for your retirement. Other risks associated with investing with Energy Super will depend on the investment option you choose. These risks include: Inflation risk Interest rate risk Credit risk Company risk Market risk Liquidity risk Currency risk Counterparty risk. The level of risk appropriate for you will depend on a range of factors including your age, your investment timeframe, where other parts of your wealth are invested, how comfortable you are about the possibility of losing some of your super in some years and the amount of risk you need to take in order to reach your financial goals. You should read the important information about Risks of Super before making a decision. Go to energysuper.com.au/pds and read the Energy Super Investment Guide. This will give you more information about risk and return. Please note: The material relating to Risks of Super may change between the time you read this PDS and the day when you acquire the product. PDS Product Disclosure Statement I 3
4 5. HOW WE INVEST YOUR MONEY Energy Super has ten investment options: Cash Deposit Cash Enhanced Stable Capital Managed MySuper Balanced SRI Balanced (Socially Responsible Investment) Growth Australian Shares International Shares. The Trustee may add new investment options and close or alter existing investment options from time-to-time. Members will be notified of any significant changes. Each option has a different level of risk and potential level of returns. You should consider the likely investment return, risk and your investment timeframe when choosing which option/s to invest in. You can choose one option or a combination of different options and can change your investment choice at any time. If you don t make a choice, your super will be invested in the default investment option. The default option for most members is MySuper. However, for some accounts created as a result of a family law split from an existing Energy Super account or the transfer of certain amounts from an existing Energy Super Defined Benefit account the default option is Cash Enhanced. For more information refer to the Energy Super Investment Guide. Investment details for the MySuper investment option (the default investment option) Description Investment return objective Minimum suggested investment timeframe Risk level 2 Risk band 2 5 This option caters for return-seeking investors, who are willing to take moderate risks with their money, but would still like the safety of a small proportion of Cash and Fixed Interest in their investment. This option aims to: provide higher returns, mainly from capital growth, than the Stable and Capital Managed options; and achieve returns (after tax and other costs) over rolling ten year periods of 3% above CPI. 1 Please note: This is an estimate only. It is not guaranteed. Five years Medium to high Estimated number of negative annual returns over any year period Asset classes Asset class Long term Range % Strategic Asset Allocation % Australian Shares International Shares (hedged) International Shares (unhedged) Property Growth Alternatives Growth Assets Total Defensive Alternatives Global Fixed Interest Cash Enhanced Cash - - Defensive Assets Total CPI is measured by the All Groups Consumer Price Index for Australia. 2 The risk level and risk band relate to what is known as the Standard Risk Measure. The Standard Risk Measure is based on industry guidance to allow you to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period. The Standard Risk Measure is not a complete assessment of all forms of investment risk, for instance it does not 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 does not take into account the impact of administration fees 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. Please note: Information about the performance of Energy Super s investment options is available on the Fund s website energysuper.com.au. Past performance is not a reliable indicator of future performance. You should read the important information about How We Invest Your Money before making a decision. Go to energysuper.com.au/pds and read the Energy Super Investment Guide. This will give you more information about the different investment options. Please note: The material relating to How We Invest Your Money may change between the time you read this PDS and the day when you acquire the product. PDS Product Disclosure Statement I 4
5 6. FEES AND COSTS CONSUMER ADVISORY WARNING DID YOU KNOW? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your 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. You may be able to negotiate* to pay lower contribution fees and management costs where applicable. Ask the fund or your financial adviser. TO FIND OUT MORE If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (moneysmart.gov.au) has a superannuation calculator** to help you check out different fee options. *Energy Super does not negotiate fees and other costs with members. **This calculator can also be used to calculate the effect of fees and costs on account balances. Fees and costs for the MySuper investment option This section provides a summary of the fees and costs for Energy Super s MySuper investment option. Similar information is included in other super funds product disclosure statements so you can compare Energy Super s fees and costs with those funds. TYPE OF FEE OR COST Fees when your money moves in or out of the Fund Establishment fee Contribution fee Withdrawal fee Termination fee $65 Management costs # The fees and costs for managing your investment $1.00 per week fixed administration fee ($52 p.a. per member account) Plus 0.22% p.a. of your account balance capped at $2,200 p.a. for eligible amounts in linked accounts (percentage-based administration fee)* Plus 0.57% p.a. (estimated) of your account balance (investment management fees). *See the Fees and Other Costs Guide for more information about linked accounts. Other fees and costs AMOUNT Other fees and costs that may become payable in certain circumstances, for example when you change investment options, and the management costs you will pay for specific investment options are disclosed in the Fees and Other Costs Guide. Nil Nil Nil How fees and costs are paid The percentage-based administration fee and the fees and costs related to managing your investments are deducted from your investment earnings before the earnings are added to your account. The fixed administration fee is deducted directly from your account and the amount will be shown on your Annual Statement. Any termination fee is deducted from your account at the time you exit the Fund. This fee is not applicable when transferring between Energy Super products. Additions or alterations to fees and costs The Trust Deed of Energy Super allows the Trustee to alter any of the fees or costs at its discretion. Generally, we will notify you in writing at least 30 days prior to any increase in fees or charges. Example of fees and costs for the MySuper investment option This table gives an example of how the fees and costs in the MySuper investment option can affect your superannuation investment over a one year period. You should use this table to compare this product with other superannuation products. EXAMPLE the MySuper investment option Contribution Nil fees PLUS Management costs EQUALS Cost of Fund 0.79% # + $52 ($1 per week) BALANCE OF $50,000 WITH TOTAL CONTRIBUTIONS OF $5,000 DURING YEAR For every $5,000 you put in you will be charged $0. And, for every $50,000 you have in the fund you will be charged $395 each year, plus $52 per account in fixed administration fees regardless of your balance. $447 # If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of $447*. What it costs you will depend on the investment option you choose. *Additional fees may apply: And, if you leave the Fund early, you may also be charged a termination fee of $65. # The fees for our other investment options are different. Management costs are an estimate for the 2013/14 financial year based on the tactical asset allocation of each investment option as at 1 July They include estimated performance fees (where relevant) which are based on an assumption about the extent to which managers are expected to outperform their benchmark. The actual costs for this and future financial years may be different. Updated estimates are posted on our website from time-to-time when updated information becomes available. Actual costs for each year are disclosed in our Annual Report. PDS Product Disclosure Statement I 5
6 Fees paid to a financial adviser Financial advice fees may be deducted from your account if you use the services of an Energy Super adviser. The cost to you will depend on the type of advice you request and will be agreed with you before advice is provided to you. Where financial advice is provided to you, a Statement of Advice document will be issued which will include the specific details of the fees that are applicable for that particular advice. The Trustee does not pay commissions to financial advisers. For more information about financial advice, please read the Energy Super Financial Services Guide (FSG) available online at energysuper.com.au You should read the important information about Fees and Costs before making a decision. Go to energysuper.com.au/pds and read the Fees and Other Costs Guide. This will give you more information about the fees and costs associated with your Energy Super account. Please note: The material relating to Fees and Costs may change between the time you read this PDS and the day when you acquire the product. 7. HOW SUPER IS TAXED Super can be a tax effective way to save for your retirement. It is therefore important you understand how tax works. Generally, your super will be taxed in the following ways: Type of tax Description How the tax is paid Tax on Concessional contributions Tax on Nonconcessional contributions Tax on Fund earnings Tax on Withdrawals Tax on Death benefits *You may be able to elect to release an amount from Energy Super of up to 85% of any excess Concessional contributions that you have made to the Fund on or after 1 July This amount will then be included in your assessable income for the year in which the contributions were made and taxed at your marginal tax rate plus an interest charge. The ATO will reduce any tax you may have to pay by a refundable tax offset equal to 15% of your excess Concessional contributions. This recognises the 15% tax already paid by your super fund. Contributions caps This includes employer contributions and personal contributions for which a tax deduction is claimed. These contributions are subject to a concessional tax rate of 15%, provided that the Fund has been informed of your Tax File Number (TFN) and you have not exceeded the Concessional contributions cap (see below). An additional 15% tax applies if your total income in a financial year is more than $300,000. If you exceed the Concessional contributions cap, excess contributions are generally taxed at your marginal tax rate plus an interest charge*. Non-concessional contributions include any personal after-tax contributions made into super and spouse contributions received. These contributions are not taxed provided you have not exceeded the Non-concessional contributions cap (see below). If you exceed the Non-concessional contributions cap, excess contributions will be taxed at 46.5% (in 2013/14) or 47% (from 1 July 2014). Any earnings from superannuation investments are taxed up to 15%. Benefits paid from a taxed superannuation fund such as Energy Super are tax-free when paid to members aged 60 and over. Benefits paid to members aged under 60 may be taxed. The tax payable on your benefits in the event of your death, if any, depends on who receives the Death benefit and in what form it is paid (lump sum or income stream). The Government has placed age related caps on the amount you can make or receive into super. The amount of the caps are different for Concessional and Non-concessional contributions and change from time-to-time. You should read the important information about How Super is Taxed before making a decision. Go to energysuper.com.au/pds and read the How My Super is Taxed Guide. This will give you more information about the tax rules that apply to superannuation. Please note: The material relating to How Super is Taxed may change between the time you read this PDS and the day when you acquire the product. The 15% tax is deducted from your contributions before they are applied to your account. If you are required to pay the additional 15% tax, the Australian Taxation Office (ATO) will calculate the level of tax payable and provide you with an assessment. You may then choose to pay all or part of the assessed amount from your nonsuperannuation monies, or you may provide a release authority to your super fund in order to have the monies released. If you exceed the Concessional contributions cap, excess contributions tax is paid after the ATO has assessed that you have exceeded the Concessional contributions cap. If you exceed the Non-concessional contributions cap, you can pay the tax yourself and ask Energy Super to release the money to you, or pay the tax amount directly from your Energy Super account. account. If applicable, tax is paid after the ATO has assessed that you have exceeded the Non-concessional contributions cap. This tax is deducted from earnings before a crediting rate is declared. Tax may be payable on assessment of your income tax return (for withdrawals) or the Death benefit recipient s income tax return (for Death benefits). However, Energy Super may deduct part, or all, of the tax from the benefit as required by law. The amount deducted may differ from the tax payable on assessment. Tax File Numbers You should provide Energy Super with your TFN when you join the Fund. If you do not provide Energy Super with your TFN: we will not be able to accept any after-tax contributions on your behalf; your Concessional contributions may be subject to additional tax of 31.5% (in 2013/14) or 32% (from 1 July 2014) (in addition to the 15% tax currently applicable to Concessional contributions); you may pay more tax on your superannuation benefit than is necessary; and it may be more difficult to find your super benefit if you change address or employers. PDS Product Disclosure Statement I 6
7 8. INSURANCE IN YOUR SUPER The types of insurance cover available through Energy Super are: Death and Total & Permanent Disablement (TPD) cover: Death cover provides a payment to your beneficiaries if you die. TPD cover provides you with a benefit if you are deemed to be permanently disabled. Death Only cover: provides a payment to your beneficiaries if you die. Income Protection (IP) cover: provides a replacement income if you are unable to work temporarily due to illness or injury. This section is a brief summary of the main features of Energy Super insurance cover. The Energy Super Corporate Insurance Guide contains important information about your entitlement to cover including: the level, type and cost of cover available your eligibility for, and when you can cancel cover the conditions and exclusions applicable to cover the amount of insurance cover that is available the cost of insurance cover; and when you qualify for a Death, TPD or IP benefit. You should read the Energy Super Corporate Insurance Guide before deciding whether Energy Super s insurance is appropriate for you. Automatic insurance cover Your employer has elected to make additional contributions to your super to pay for the cost of your automatic insurance cover in Energy Super, as outlined in this section. Conditions and exclusions may apply. Death & TPD cover Type of cover If you join Energy Super within 120 days of joining your employer, you will receive 5 units of Death & TPD cover subject to being "Actively At Work". If you are 64 years old or less and join Energy Super within 60 days of joining your employer, you can apply for up to 10 units of cover without the need to provide medical evidence. Benefit level Between $8,500 and $543,000 (depending on your age) Cost ($ per unit per week) $0.80 discounted cost for White Collar/Professional $0.99 standard cost The total cost of your insurance cover = number of units x unit cost. Income Protection cover Type of cover Benefit level Waiting period Payment period Cost ($ per week) The cost of insurance cover 10 units of IP cover $5,000 per month* 90 days Up to 2 years $2.90 (as you are covered by Workers Compensation) *The maximum benefit payable is the lesser of the monthly benefit or 90% of Income. A contribution of 10% of Income is also payable to your Energy Super account. Refer to the Energy Super Corporate Insurance Guide for the definition of Income. The cost of your insurance cover depends on whether you apply for insurance in addition to your automatic cover, whether you are eligible for a White Collar/Professional discount, your age, whether your cover is unit-based of fixed-dollar cover (in the case of Death & TPD) and whether you are covered by Worker s Compensation (in the case of IP cover). You can apply for Death, TPD and IP cover in addition to your automatic cover, which your employer does not pay for. The cost of this cover will be deducted from your Energy Super account on a monthly basis. When you cease employment, your employer will no longer pay for any of your cover and all premiums will be deducted from your account unless you cancel your cover. Increasing, reducing and cancelling cover On joining Energy Super, you can apply for additional units of Death & TPD cover, apply for additional units of IP cover, change your IP waiting period and apply to extend the payment period of your IP benefit to age 65 when completing your Membership Application Form. If you require more than 10 units of Death & TPD cover, or would like to apply for additional cover after joining the Fund, you will need to complete a Change of Insurance Form. While unit-based cover is the default offered by Energy Super, you can also apply for fixed-dollar cover by completing a Change of Insurance Form. You can reduce or cancel your Death, TPD and/or IP cover (including default cover) at any time by completing a Change of Insurance Form. You can also cancel your insurance over the phone by contacting us on ENERGY ( ). Please note: You may be required to have insurance cover under an enterprise bargaining agreement which is applicable to your workplace. You should investigate this with your employer prior to cancelling or reducing your cover. Your employer also pays for the cost of your current default insurance cover. You should read the important information about Insurance in Your Super before making a decision. Go to energysuper.com.au/pds and read the Energy Super Corporate Insurance Guide. This will give you more information about the insurance cover offered by Energy Super. Please note: The material relating to Insurance in Your Super may change between the time you read this PDS and the day when you acquire the product. PDS Product Disclosure Statement I 7
8 9. HOW TO OPEN AN ACCOUNT Becoming a member of Energy Super is as easy as Read the information in this Energy Super Corporate Member Guide and the documents referred to within (which form part of this PDS); 2. Complete the Member Application Form; and 3. Send it back to us, either directly or via your employer. Things you should consider When you join you will need to think about: how much you want to contribute to your super, if you would like to roll over or transfer other funds to Energy Super (complete a Transfer Your Super Form), how you would like your money invested, the type and amount of insurance cover you ll need; and who you would like to receive your benefits in the event of your death. Make sure we have all your details It s really important that we have the following information about you: Full name Address and Phone number Date of birth Tax File Number (TFN) Your employment details (if applicable). Enquiries and complaints If you have an enquiry or complaint, please contact us: Phone: ENERGY ( ) Fax: (07) Mail: Complaints Officer Energy Super GPO Box 1006 Brisbane QLD 4001 In person: Level Creek Street Brisbane QLD We will try to satisfy your enquiry or complaint immediately, but some issues may take longer. If we cannot respond immediately, your enquiry or complaint will be investigated and we will write to you advising you of the outcome. Legislation requires all funds to respond to complaints within 90 days. How to take your complaint further If you re not satisfied with the Trustee s final decision you may be able to lodge a complaint with the Superannuation Complaints Tribunal (SCT). The SCT is an independent body set up by the Federal Government to consider superannuation related complaints by members, former members and their beneficiaries. The SCT can consider complaints about the decisions and conduct of the trustees of most superannuation funds, the conduct and decisions of people acting on behalf of the trustee and the decisions of Insurers in relation to insurance benefits provided through superannuation funds. The complaint must be in relation to a trustee decision or conduct that you believe is, or was, unfair or unreasonable. You can only approach the SCT if you have already had your complaint considered by the Trustee. The staff at the SCT will try to resolve your complaint by helping you and your super fund come to a mutual agreement. If this is not successful, the SCT may review the matter and make a decision that is binding on both parties. The SCT contact details are: Mail: Superannuation Complaints Tribunal Locked Bag 3060 MELBOURNE VIC 3001 Phone: Website: sct.gov.au PDS Product Disclosure Statement I 8
9 Member Application Form Ergon Energy Employees Becoming a member of Energy Super is easy. Simply read your Energy Super Corporate Member Guide Product Disclosure Statement (PDS) and the documents referred to within (which form part of the PDS), complete all sections of this form and return to your payroll services. Please complete this form in BLOCK letters using a blue or black pen. Print an X to mark boxes where appropriate. 1. Your personal details Energy Super member number (if already an Energy Super member): Surname: Title: Mr Mrs Ms Miss Dr Given names: Residential address: Date of birth: (DD/MM/YYYY) / / State: Postcode: Postal address (if same as above, write as above ): State: Postcode: Telephone (home): Mobile: Gender: Male Female Primary Telephone (work): Secondary As a member of Energy Super you can choose how you receive certain information from us including your statements and other member notices. Please select which of the following options you would like to receive by Annual Member Statement notification Updates to Energy Super s Financial Services Guide Member newsletter and other periodic marketing communications It is important to note that in some instances Energy Super may be required to distribute communications by mail only. Keeping your details updated is important to us, so if you change your details or wish to change your communication preferences at any time, please contact us on ENERGY ( ). Your Tax File Number (TFN) I agree to provide my TFN for the purpose outlined in the How My Super is Taxed Guide: Yes I consent to Energy Super using my TFN to access the Australian Taxation Office (ATO) Super Match system to search for and transfer any lost super I may have to Energy Super and acknowledge that this consent is ongoing until I revoke it with the Fund. Yes No I advise that my TFN is: No I have read the information concerning Tax File Numbers (TFN) and understand a failure to provide my TFN will result in tax implications on my concessional contributions and the inability of the Fund to receive any non-concessional contributions. I further understand the Fund will only use my TFN for the approved purposes. FRM Continued on page 2 > Member Application Form - Ergon Energy Employees 1 of 6 Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) is the Trustee for Energy Super (ABN ).
10 2. Nomination of beneficiary/ies (refer to the What Happens To My Super When I Die Guide) Please indicate the people you would like to nominate as beneficiaries for the payment of your Death benefit. In the event of your death, your benefit can only be paid to your dependants or your Legal Personal Representative (Executor or Administrator of your Estate). Refer to the What Happens To My Super When I Die Guide for more information. You have the option of nominating your beneficiaries using a Non-binding nomination or a Binding nomination. A Non-binding Death benefit nomination is not binding on the Trustee. This means that upon your death, the Trustee will consider your nomination but will take into account a range of other factors when making a decision about who will receive your benefit. A valid Binding Death benefit nomination is binding on the Trustee. This means that, providing the nomination is valid, the Trustee must pay your Death benefit in accordance with your instructions, without taking into account any other factors. I would like to make a: Binding Death benefit nomination (complete a Binding Death Benefit Nomination Form, available on our website energysuper.com.au) Non-binding Death benefit nomination (complete the table below) Full name of beneficiary Date of birth (DD/MM/YYYY) Address Relationship to you Percentage of benefit Your Legal Personal Representative (Executor or Administrator of your Estate) Total 100% Please note: You can lodge your Member Application Form without making any beneficiary nomination. However, if you do so, any Death benefit payable will be paid at the Trustee s discretion until we receive a valid beneficiary nomination form from you. You can also change your nomination in writing at any time by completing another Non-binding Death Benefit Nomination or Binding Death Benefit Nomination Form. Alternatively, you can update your Non-binding Death benefit nomination over the phone by contacting us on ENERGY ( ). 3. Your employment details Employer number (if known): Employer s trading name: Ergon Energy Employer address: 825 Ann Street Fortitude Valley State: QLD Postcode: 4006 Telephone (daytime): Date commenced employment: (DD/MM/YYYY) Employer / / Your occupation: Continued on page 3 > FRM Member Application Form - Ergon Energy Employees 2 of 6 Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) is the Trustee for Energy Super (ABN ).
11 Occupational risk assessment You may be eligible for discounted insurance rates. Please answer the following questions: Do you spend at least 90% of your working hours in an office environment? Yes No Does your work expose you to unusual occupational hazards? Yes No Does your work involve only very light skilled duties? Yes No Does your work involve only minimal manual labour (manual duties)? Yes No 4. Your investment choice (refer to the Energy Super Investment Guide) Please select the investment option/s in which you would like to invest your Energy Super account. Your total investment allocation must be in whole numbers and add up to 100%. Please note: If your investment choice does not add up to 100% or you do not wish to make a selection you will be invested in the MySuper investment option. Investment option Cash Deposit Cash Enhanced Stable Capital Managed MySuper Balanced SRI Balanced Growth Australian Shares International Shares Percentage Total 100% If a contribution or rollover is received prior to Energy Super receiving this Member Application Form or you making an investment choice it will be invested in the default MySuper investment option. 5. Insurance cover (refer to your Energy Super Corporate Member Guide and the Energy Super Corporate Insurance Guide). Please indicate below the type(s) of insurance and the amount of cover of each type that you wish to apply for. Death and Total & Permanent Disablement (TPD) You will receive automatic Death & TPD insurance cover (for more information read your Energy Super Corporate Member Guide). Please note: If you would like your automatic cover only, leave this Death & TPD section blank. Additional cover If your age next birthday is 65 years or less, you are entitled to apply for up to 10 units of Death & TPD cover within 60 days of joining Energy Super without having to provide evidence of good health. I would like to apply for units of Death & TPD cover. Please note: If you apply for more than 10 units you may need to complete further paperwork. Fixed-dollar cover If you wish to apply for fixed-dollar value cover, leave this Death & TPD section blank and complete a Change of Insurance Form. This form is available online at energysuper.com.au Transferring your cover from another super fund If you are rolling over your super from another fund where you also have insurance arrangements and you wish to replicate these insurance arrangements in Energy Super please complete an Insurance Transfer Form, which can be found on our website - energysuper.com.au Continued on page 4 > FRM Member Application Form - Ergon Energy Employees 3 of 6 Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) is the Trustee for Energy Super (ABN ).
12 Income Protection You will receive automatic Income Protection insurance cover (for more information read your Energy Super Corporate Member Guide). If you would like your automatic cover only, leave this Income Protection section blank. Please note: The monthly benefit for Income Protection is the level of cover you receive automatically or apply for, limited to 90% of your income, plus a 10% superannuation contribution made into your Energy Super account to a maximum of $30,000 per month. Complete this section if you would like to apply for additional units of Income Protection cover (i.e. in addition to your automatic cover), change your waiting period or extend your benefit period to age 65. I wish to apply for a total of units of Income Protection cover (whole units only). Please indicate the waiting period you require. 6. Contributing to super Ergon Energy contributes superannuation on your behalf to Energy Super. Your level of additional contributions can be selected by completing this section of the form. For staff employed under Ergon Energy s Union Collective Agreement 2011 Additional contributions (refer to your Energy Super Corporate Member Guide). Personal contributions are deducted from your salary each pay day and deposited in your Energy Super account. You can choose to make before-tax (salary sacrifice) or after-tax contributions or both. Simply tick the relevant box (below) and indicate the amount you wish to contribute. AND I wish to make 5.88% before-tax (salary sacrifice) contributions to my Energy Super account. I wish to have $ OR % additional super contributions deducted from my salary each pay day starting (DD/MM/YYYY) / / AND 30 days 60 days 90 days I wish to apply to extend my benefit payment period to age 65. Please note: This will apply at the end of your two year benefit payment period, and is subject to underwriting. Yes - You will be sent further information No I wish to make 5% after-tax contributions to my Energy Super account. I wish to have $ OR % additional super contributions deducted from my salary each pay day starting (DD/MM/YYYY) / / Please note: If you are 65 years or over, you need to complete the Work Test Declaration Form. Please contact Energy Super if this applies to you. Continued on page 5 > FRM Member Application Form - Ergon Energy Employees 4 of 6 Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) is the Trustee for Energy Super (ABN ).
14 8. Employer section Employee payroll number (if any): Date employee commenced employment: (DD/MM/YYYY) / / Employee occupation: On average, how many hours does the employee work each week? To the best of my knowledge, the above information is correct. I declare that this employee was not absent from work due to illness or injury on their first day of employment. I have read the Contributing to super section of this form and have recorded and actioned the employee s selection where applicable. Ergon Energy representative s signature: Date: (DD/MM/YYYY) / / To be completed by payroll Townsville Payroll data entered: Energy Super advised: Name: Signature: Date: (DD/MM/YYYY) / / Please return this completed form by mail to: Energy Super, PO Box 1958 Milton QLD 4064 Or by facsimile to: (Remember to send all pages of the form) Or by scanned attachment to: More information Call ENERGY ( ) or visit energysuper.com.au FRM Member Application Form - Ergon Energy Employees 6 of 6 Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) is the Trustee for Energy Super (ABN ).
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16 Issued by Electricity Supply Industry Superannuation (Qld) Ltd (ABN AFSL ) the Trustee for Energy Super (ABN ). PDS