SignatureSuper Member Guide Fact Sheet

Transcription

1 SignatureSuper Member Guide Fact Sheet Issued 30 June 2014 AMP Corporate Super The information in this Fact Sheet forms part of the SignatureSuper Product Disclosure Statement dated 1 January 2014 for employers and employees members. Registered trademark of AMP Life Limited ABN

2 Contents Maintaining your super 3 Family and Spouse membership information 4 How to transact 7 Investment features 12 Fees and other costs 16 Tax and social security 26 Nominating your beneficiaries 30 Accessing your super 33 Leaving the SignatureSuper Employer Plan 36 Important information 41 Understanding superannuation terms 46 The Product Disclosure Statement, your Plan Summary and the Fact Sheets This Member Guide Fact Sheet is one of the Fact Sheets for SignatureSuper. It describes the features (including fees) available in SignatureSuper. The other Fact Sheets are: an Investment Guide Fact Sheet, which provides information about investment risks, the investment options available in SignatureSuper and the Investment Fee for each investment option, and an Insurance Guide Fact Sheet, which describes the insurance cover that may be available to you in SignatureSuper. You will receive a Plan Summary booklet with your Welcome Letter, which describes the benefits and features specific to your membership of SignatureSuper. Some employers may have a tailored MySuper arrangement. Your Plan Summary will contain information on these arrangements that are specific to your plan. It may also note that some benefits and features in the Fact Sheets may not apply to you. You or your Family member may also request a copy by contacting the Customer Service centre on The information in this document forms part of the SignatureSuper Product Disclosure Statement (PDS) dated 1 January It is of a general nature only and is not based on your personal objectives, financial situation and needs. You should consider whether the information in this Fact Sheet is appropriate for you in accordance with your objectives, financial situation and needs. You should consider the PDS, your Plan Summary and all Fact Sheets before making any decision about whether to acquire or continue to hold your account. The Fact Sheets and your Plan Summary are important documents. You should read them in conjunction with the PDS to understand how SignatureSuper works. If you would like advice on your insurance cover in SignatureSuper, contributions to your account, or investment options, you can call us on This advice will be provided by AMP Direct Pty Ltd. An Advice fee will not be charged. If you would like to obtain other financial advice, ongoing financial advice or other information about your account, you should speak to a licensed financial planner. For an explanation of words and phrases, see Understanding superannuation terms on page 46. Changes to this Fact Sheet Information in this Fact Sheet, as well as the other Fact Sheets, the Plan Summary and the PDS, may change from time to time. We may update information which is not materially adverse to you by issuing a PDS update. You can obtain this updated information simply by: visiting amp.com.au/signaturesuper/pds, or contacting us to request a free paper copy of the updated information, or asking your financial planner (if applicable). AMP Superannuation Limited (ASL) and other providers ASL is the trustee of the AMP Superannuation Savings Trust (of which SignatureSuper is a part) and is referred to as ASL, trustee, we or us in this Fact Sheet. No other company in the AMP group of companies (AMP group) or any of the investment managers of the investment options: is responsible for any statements or representations made in this Fact Sheet, or guarantees the performance of ASL s obligations to members nor assumes any liability to members in connection with SignatureSuper. Neither ASL, nor any other company in the AMP group, nor any of the investment managers of the investment options, guarantees the performance of this super fund or the investment options or any particular rate of return. The repayment of capital is not guaranteed, unless expressly stated. Except as expressly disclosed in the PDS or a Fact Sheet, investments in the investment options are not deposits or liabilities of ASL, AMP Bank Limited ABN , AFSL No (AMP Bank), any other member of the AMP group or any of the investment managers. ASL is not a bank. AMP Bank does not stand behind the Trustee. The investment options are subject to investment risks, which could include delays in repayment and loss of income and capital invested. AMP companies receive fees and charges in relation to SignatureSuper outlined in the PDS, Plan Summary and Fact Sheets. AMP employees and directors receive salaries and/or benefits from the AMP group. This offer is available only to persons receiving (including electronically) the PDS, Plan Summary and Fact Sheets within Australia. We cannot accept cash or applications signed and mailed from outside Australia. Monies received or paid must always be in Australian dollars. This offer is subject to the terms and conditions described in the PDS, Plan Summary and Fact Sheets. We reserve the right to change these terms and conditions with, in the case of an increase in fees, at least 30 days notice, otherwise notice will be provided before or as soon as practicable after the change occurs. Any application forms enclosed do not form part of the PDS, Plan Summary and Fact Sheets. Issued by AMP Superannuation Limited ABN , AFSL Licence No , RSE Licence No. L , the trustee of the AMP Superannuation Savings Trust, ABN

3 Maintaining your super Keeping you informed We will provide you with: Member Statements showing your account details including the balance of your investment, insurance details and fees and transactions made since your last statement. an annual report containing a review of the operations of SignatureSuper If you d like a copy of the current annual report, call AMP Corporate Super Customer Service. The annual report is also available at amp.com.au/signaturesuper. The SignatureSuper website (signaturesuper.amp.com.au) also keeps you informed with online links to: regular newsletters to keep you informed about SignatureSuper and super related topics. a quarterly investment update. quarterly performance figures for every SignatureSuper investment option. The SignatureSuper website the gateway to managing your super The SignatureSuper website offers you a central place to find information on your super plan, forms and market updates, along with easy access to My Portfolio for up-todate information about your account online. Check it out on signaturesuper.amp.com.au. My Portfolio online information about your super and financial future My Portfolio allows you to view your AMP super accounts, bank accounts, shares, insurance and other financial assets and liabilities all in the one place, online. Log into My Portfolio to: manage your finances see a complete picture with immediate unit pricing details see your individual contract holdings and view transaction summaries view your online statement check your super contributions and download reports use the My Super Future Report to see how your super is projected to grow access Morningstar investment research update your personal information perform investment switches, update beneficiaries and provide your tax file number. Access My Portfolio at amp.com.au/myportfolio. The AMP app It s the first app in Australia where you can access your banking, insurance, investments and super accounts all from one place. The AMP app helps you get things done, like accessing your AMP Bank accounts to make payments or getting help to start consolidating your super. Get started in three easy steps: 1. Have your BankNet (AMP Bank s internet banking service) and/or My Portfolio (super/insurance/ investments) login details handy. 2. Download the app from the App Store or Google Play TM Store app. 3. Follow the set-up instructions and you re good to go. Available from the Apple App Store and Google Play Store now. Google Play is a trademark of Google Inc. Apple is a trademark of Apple Inc. Member tip Help us to keep you informed. We want to ensure that you receive all the information that you need to manage your superannuation. Please advise us immediately of any change to your personal details (such as name, address, or address). 3

4 Family and Spouse membership information In agreement with your SignatureSuper employer we may offer either: Family membership, or Spouse membership. Generally, Family membership is offered unless a SignatureSuper employer chooses to only provide Spouse membership. Family membership (see your Plan Summary if available) As a member of an Employee member s or Former Employee member s family a person may have the opportunity to join and enjoy the many benefits of SignatureSuper. A Family member is a person who, in relation to an Employee member or Former Employee member is: Their Spouse, child, parent, sibling, grandparent, grandchild, Spouse s parent, spouse s sibling, spouse of a child of the person, or A person in an Interdependency Relationship with them. Eligibility for Family membership is subject to a minimum age of 13 years. Spouse member (see your Plan Summary if available) As a Spouse of an Employee member or Former Employee member a person may have the opportunity to join the Plan and enjoy the many benefits of SignatureSuper. These benefits may not be available in a standard retail or personal super fund. Benefits Family or Spouse membership offers the following benefits: Fee discounts: You may receive corporate discounts as a member (if applicable). Investment option choice: You can access and invest in the investment option range offered by the Plan. See the Investment Guide Fact Sheet and Plan Summary for details. Insurance: Insurance will be offered to members who are eligible. See your Insurance Guide Fact Sheet and Plan Summary or contact us for details and conditions. My Portfolio: An online AMP feature that allows all members to view information about their account at their own leisure. My Portfolio is available through signaturesuper.amp.com.au. Tax offset (rebates): If the Spouse of an employee member is a Family or Spouse member and the Spouse is a low-income earner, then a tax offset may be available if an employee member contributes to their Spouse s account. See the Tax and social security section for details. Customer Service Centre: Available to Family/Spouse members to obtain general information about their SignatureSuper account. How to apply If you would like a Family member or a Spouse member to join your SignatureSuper Plan, the next steps apply: Contact AMP Corporate Super to request the SignatureSuper PDS, Plan Summary, Fact Sheets and a Family member application form. They will need to complete the applicable Family or Spouse member application form. If insurance is required and available, the applicant must also complete the Family member Insurance application form and the Short Form Personal Statement. Insurance for Family members is only available if the applicant is at least 16 years old. They should then forward the completed forms to AMP Corporate Super with a cheque or request for a rollover/transfer, which must meet the minimum initial investment requirement (as agreed with the SignatureSuper employer see your Plan Summary for details of the minimum initial investment requirement applicable to your Plan). Membership will only be considered upon receipt of the minimum investment requirement and a fully completed application form. We may accept or reject an application without giving reasons. The trustee will notify the applicant if accepted for membership. For insurance, the Insurer will consider their medical history, likely future good health, occupation, lifestyle, and any other information the Insurer may require before deciding whether to accept an application for insurance cover. 4

5 Role of parents and guardians If you are under the age of 18, your parent or guardian needs to co-sign your application. You should discuss with your parent or guardian any decisions regarding: applying for a SignatureSuper account, applying for, changing or cancelling insurance cover, lump sum withdrawals, cooling-off, change of contact details, and investment option selection, including switching. Your parent or guardian must act with care to protect your interests and ensure the decisions are appropriate to your needs. A parent or guardian should always ensure that withdrawals are used for your (and no one else s) benefit. A guardian should contact us if they cease to be the guardian or if they wish to advise of a change to the guardianship of the member. The role of being a parent or guardian is a serious and important responsibility. The trustee takes no responsibility for ensuring that a parent or guardian complies with their legal and moral obligations to the applicant. For further information on guardianship responsibilities, contact your legal adviser or the guardianship body in your State or Territory. When a member turns 18 years of age When you turn 18 years of age, the parent or guardian is removed from your account and you can make all decisions regarding the account. If this applies to you, we will write to you when you turn 18 years of age to confirm your contact details. Rollovers/transfers If you consolidate your total super benefits into one account, such as your SignatureSuper account, you may be able to reduce the total fees you pay. It may also be easier for you to keep track of your super if it is under the one account. If you decide to transfer your existing super benefits to SignatureSuper, you can do this online at amp.com.au/consolidate or call us for a: Rollover initiation request to transfer whole balance of superannuation benefits between funds form, and/or Request to transfer superannuation benefits from an external Fund to AMP form. To help you complete the forms, the details required to consolidate into SignatureSuper are: Unique Superannuation Identifier (USI): AMP0735AU ABN: Address and Contact phone number can be found on the relevant forms, as well as on the last page of this Member Guide Fact Sheet. You should be aware of all the implications before transferring benefits, including whether your other super fund(s) charge an exit fee when you transfer and any loss of insurance cover. Where you are requesting a closure of your account under super portability laws, we will check with your employer to ensure no further contributions are to be paid into the account. We will delay payment of your withdrawal until the earlier of: The date the employer confirms that they will not be making any further contributions into your account, or Three business days from the date we received your request to close your account. Rollovers and transferred benefits, which are preserved benefits, aren t accessible until a condition of release is met (see Accessing your super section). UK pension transfers SignatureSuper can accept amounts from United Kingdom (UK) pension schemes and the Qualifying Recognised Overseas Pension scheme (QROPs) concessional UK tax arrangements will apply. The UK Revenue & Customs has confirmed that the fund, of which SignatureSuper is a part, is registered as a QROPs. Members who transfer UK pension scheme balances overseas currently only receive concessional UK tax arrangements if they transfer the balance to a QROPs. If the UK Revenue & Customs changes the conditions for QROPs we will notify you via an update on amp.com.au/signaturesuper/pdsupdates. These amounts are regarded as member contributions and they can only be made into your account if you satisfy the member contributions rules. (See When can we accept contributions? section). They may also count towards your Non-Concessional Contributions Cap amount (see the Tax and social security section). Other Australian taxation rules also apply, especially where amounts are received after six months of becoming an Australian resident for taxation purposes. Please contact us if you need more information. 5

6 Trans-Tasman Retirement Savings Portability Individuals may transfer retirement savings between Australia and New Zealand after their permanent migration from one country to the other. The transfer of retirement savings is voluntary for members. You may only transfer your superannuation balance in SignatureSuper to a New Zealand KiwiSaver scheme. Once the superannuation money is in a KiwiSaver scheme, there are restrictions on when these funds can be accessed. For example: it cannot be used to purchase your first home it cannot be moved to a third country it can be accessed when the member reaches 60 years of age and satisfies the Australian definition of retirement at that age. We recommend you see your financial planner before transferring all or part of your retirement savings in SignatureSuper to a KiwiSaver scheme as there may be currency risks and tax consequences. You should also consider what effect this will have on any insurance cover you have in SignatureSuper. At this time, AMP does not accept transfers from KiwiSaver schemes. 6

7 How to transact Making contributions What are the different types of contributions that can be made? We can accept (i) the following types of contributions into your account: Contribution type Member contributions Spouse contributions Superannuation Guarantee (SG) and Award/ Industrial Agreement Employer contributions Salary Sacrifice contributions and Additional Employer contributions Transfers/Rollovers Government co-contributions Low income super contribution (ii) Overseas transfers Contribution description Contributions you as a member pay either from your after-tax income or you have personally claimed as a tax deduction. Contributions your Spouse pays into your account. (However, for your Spouse to be eligible to claim a tax offset, you must not be entitled to a tax deduction for the contributions and must not live separately from your Spouse on a permanent basis). Contributions paid by an employer under the Superannuation Guarantee legislation, and contributions paid to comply with an Award/Industrial Agreement. You may be able to arrange with your employer to make contributions to your account instead of paying you an equivalent amount of pre-tax Salary. These Salary Sacrifice contributions are treated as employer contributions. Your employer can also make additional employer contributions to your SignatureSuper account in addition to SG, Award/Industrial Agreement and Salary Sacrifice contributions. You can transfer or roll over existing super money. You may be eligible to receive a co-contribution from the Government (see heading Government co-contributions in this section for more details). You may be eligible to receive a low income super contribution from the Government (see heading Low income super contribution in this section for more details). We can accept certain overseas transfers (including UK transfers). (i) Non-Concessional Contributions cannot be accepted if we don t have your Tax File Number (see heading Collection of Tax File Numbers in the Important information section). There are also certain limits on the amount that can be paid as a single Non-Concessional contribution. (ii) The Government has proposed the removal of the Low Income Super Contribution in respect of contributions made from 1 July This proposal has not yet been made law. If you make contributions above the Contributions Caps you may be taxed on the excess contribution. (See the Tax and social security section). How can contributions be made? You, your Family, Spouse or your employer may make contributions as a single lump sum contribution, regular contributions, or lump sum contributions as often as you or they like. Member contributions Member, Spouse and Family contributions can be made by: Bpay : Contacting your financial institution s internet or telephone banking service to make a payment from your cheque or savings bank account. Your Welcome Letter and Member Statement confirms your personal Bpay customer reference number and biller codes. You and your Family/Spouse can use these details to make a payment by telephone or internet at any time. Cheque: Send us a cheque payable to AMP Life Limited SignatureSuper together with your member number and contribution type (refer to descriptions above) to the mailing address shown below. Please ensure that all relevant information accompanies your cheque to help ensure that investment of your contributions is not delayed. Regular payroll deduction: Employee members may also be able to make personal contributions by regular payroll deduction made from your after-tax wages by arrangement with your SignatureSuper employer (these member contributions are different from Salary Sacrifice contributions and will have different tax implications contact your financial planner for more information). Mail: SignatureSuper Customer Service Locked Bag 5043 PARRAMATTA NSW 2124 Registered to BPAY Pty Ltd ABN

8 Other Employer SG contributions SignatureSuper can accept SG contributions from employers for Choice of Fund purposes. See details of Choice of Fund section. If you have more than one employer, you may wish to have those SG contributions paid into your SignatureSuper account. If allowed, you can direct the other employer SG contributions to SignatureSuper by completing a Standard Choice form (provided by your other employer) and return it to your other employer. Other employer contributions can be paid via a range of electronic methods. To make a payment, your employer will require the Unique Superannuation Identifier (USI): AMP0735AU. Your employer can also make cheque payments*, payable to AMP Life Limited SignatureSuper, together with advice of the member name, member number and contribution type to the address shown above. These contributions will be allocated to your Employer Additional sub-account. When you leave SignatureSuper, you are responsible for re-directing all contributions made for your benefit to your new super fund. *By law, payment by cheque will be a non-compliant way of making contributions from 1 July 2015 for large employers (20 or more employees) or from 1 July 2016 for small employers (19 or less employees). When can we accept contributions? There are restrictions on the types of contributions we can accept into your account depending on your age, the number of hours you are working and other factors. These are set out in the table below: Type of contribution You are under age 65 Member contributions (i),(vii) At any time Only if you have been gainfully employed on at least a part-time basis during the financial year, in which the contributions are made (ii) Spouse contributions (i) At any time Only if you have been gainfully employed on at least a part-time basis during the financial year in which the contributions are made (ii) Compulsory employer contributions (iii), Superannuation Guarantee (SG) and Award/Industrial Arrangement You are age 65 to 69 You are age 70 to 74 You are age 75 or over (v) Only if you have been gainfully employed on at least a part-time basis during the financial year, in which the contributions are made (ii) No Spouse contributions accepted Cannot be accepted Cannot be accepted At any time At any time At any time At any time Salary Sacrifice and Additional Employer contributions (iii) At any time Only if you have been gainfully employed on at least a part-time basis during the financial year in which the contributions are made (ii) CGT exempt contributions and overseas transfers At any time Only if you have been gainfully employed on at least a part-time basis during the financial year in which the contributions are made (ii) Only if you have been gainfully employed on at least a part-time basis during the financial year in which the contributions are made (ii) Only if you have been gainfully employed on at least a part-time basis during the financial year in which the contributions are made (ii) Cannot be accepted Cannot be accepted Government co-contributions At any time At any time In limited circumstances (iv) Not applicable Government low income At any time At any time At any time At any time super contributions (vi) Transfers/Rollovers At any time At any time At any time At any time (i) Member and Spouse contributions cannot be accepted (and therefore no Government co-contributions can be received) if we don t have your Tax File Number (TFN). The ATO treats all member contributions, in the first instance, as Non-Concessional, and adjusts the contributions to concessional if a tax deduction is claimed in your income tax return. (ii) You are considered to have been gainfully employed on at least a part-time basis during a financial year if you are gainfully employed for at least 40 hours in a period of not more than 30 consecutive days in that financial year. (iii) If we don t have your TFN an additional tax called the No-TFN tax will be deducted from your account. (iv) You must be under age 71 at the end of the financial year in which an after-tax contribution is made to receive a Government co-contribution. (v) Personal and non-mandated contributions can be accepted after age 75 if made in the 28 days following the end of the month you turn age 75. You must also have been gainfully employed on at least a part-time basis in the financial year the contributions are made. (vi) A Government low income super contribution of up to $500 per year may be paid in respect of a member who had a Concessional contribution made in respect of the member and the member s adjusted taxable income for the financial year does not exceed $37,000 pa. The Government has proposed the removal of the Low Income Super Contribution in respect of contributions made from 1 July This proposal has not yet been made law. (vii) Payments from a First Home Saver Account into super will be treated as a member contribution and are subject to the Non-Concessional Contributions Cap. They are not eligible for the Government co-contribution. Such payments can be made after age 65 (but before 70, when the payment ends) without the need to be working on at least a part-time basis. 8

9 Contribution splitting You may generally be able to split to your Spouse s super up to 85% of your annual: employer contributions, and member contributions you claim as a tax deduction. The amount that can be split cannot exceed the Concessional Contributions Cap. Member contributions from your after-tax income cannot be split. Each year you can only make one application to split contributions. This application can be made at any time during the financial year that immediately follows the financial year in which the contributions were made. Also, if you close your plan account, then you can split the contributions made during the year in which you close the account. Please contact us for additional information. Government co-contribution The Federal Government provides a co-contribution to your personal member after-tax contributions, up to a maximum co-contribution limit per year. It applies if you: Earn at least 10% of your total income 1 (gross income plus reportable fringe benefits plus reportable employer super contributions) from carrying on a business, eligible employment as defined for co-contribution purposes or a combination of both. Earn less than $49,488 for that year in total income 2. Did not hold an eligible temporary resident visa at any time during the financial year (unless you are a New Zealand citizen or the holder of a prescribed visa). Are aged less than 71 years of age at the end of the financial year in which your contribution was made. Lodge an income tax return with the Australian Tax Office for the financial year. Government low income super contribution The Government will make a contribution of up to $500 in a financial year in respect of a member where: The member s adjusted taxable income for the financial year does not exceed $37,000. A Concessional contribution in respect of the member was made in the financial year. The member earns at least 10% of the member s total income 4 (gross assessable income plus reportable fringe benefits plus reportable employer super contributions) from carrying on a business, eligible employment as defined for co-contributions purposes or a combination of both, in the financial year. Are not a temporary resident at any time in the financial year (unless you are a New Zealand citizen or the holder of a prescribed visa). The amount of the Government low income super contribution that will be made in respect of an eligible member in a financial year is determined as the lesser of: a. 15% of the total Concessional Contributions made in respect of the member in the financial year, and b. $500. However, if you are eligible for a Government low income super contribution that is less than $10 for the financial year, your Government low income super contribution will be rounded up to $10 for that financial year. The Government has proposed the removal of the Low Income Super Contribution in respect of contributions made from 1 July This proposal has not yet been made law. Your entitlement For the 2014/2015 financial year, if your total income 2 is more than $34,488 3 but less than $49,488 (set at $15,000 above the lower income threshold) in the financial year, the Government co-contribution is $500 reduced by cents for each dollar your total income is over $34, If your total income 2 is more than $49,488 in the financial year, you are not entitled to a Government co-contribution. When received, the co-contribution forms part of the taxfree component and is subject to preservation. However, the Government co-contribution is not counted towards the Non-Concessional Contributions Cap. 1. For the purpose of the 10% eligible income test, your total income is not reduced by amounts for which the person is entitled to a deduction for carrying on a business. 2. Reduced by amounts for which the person is entitled to a deduction for carrying on a business. 3. Indexed annually. 4. For the purpose of the 10% eligible income test, your total income is not reduced by amounts for which the person is entitled to a deduction for carrying on a business. 9

10 Choice of Fund (Employee members only) Many employees have the right to choose the super fund to which their SG contributions are to be paid. You should seek advice from your Human Resources area or from your financial planner as to whether Choice of Fund applies to you. If Choice of Fund does apply to you, and you would like your Other employer to make all future SG contributions to your SignatureSuper account, then complete section A of the Standard Choice form, which you will receive from your Other employer. If your SignatureSuper employer has offered you this choice, but you don t want to change where your future SG contributions are contributed, then you can simply do nothing. Choice is not compulsory. Your insurance cover in SignatureSuper may be affected if you make a choice. If you decide to direct your future SG contributions away from SignatureSuper to another fund, the terms and conditions of your current insurance arrangements under SignatureSuper may change. The Plan rules for your Plan may require that your account is transferred from the Plan. If you choose to transfer (rollover) your existing balance in SignatureSuper to another fund, your SignatureSuper account will close and your insurance cover under SignatureSuper (if any) may cease. For more information see the Insurance Guide Fact Sheet and your Plan Summary. Maintaining your SignatureSuper account without employer contributions (Employee members only) If you decide to direct future SG contributions away from SignatureSuper to another fund and your SignatureSuper employer agrees, you may still retain your current account balance in SignatureSuper and continue to be a member of this SignatureSuper Plan. You may want to do this in order to retain access to the insurance cover 1 (if any) provided through your SignatureSuper account. Your membership in SignatureSuper will cease when: You cease to be an employee of the SignatureSuper employer. You transfer your whole SignatureSuper account to another super product, or Your account becomes dormant see Dormant Accounts transfer to a personal account below. Please refer to the Leaving the SignatureSuper employer Plan section. Employer responsibilities for contributions Employers are required to make contributions for their employees (where applicable). These are known as Superannuation Guarantee (SG) contributions. The mandatory SG rate will increase from 9.25% to 9.5%, of an employee s ordinary time earnings, from 1 July The maximum super contributions base for an employee for a quarter is $49,430 in 2014/2015. SG contributions are not required on ordinary time earnings in excess of the limit. These amounts must be paid at least quarterly by the 28th day following the end of the quarter (ie 28 October, 28 January, 28 April and 28 July). If you authorise your employer to deduct voluntary member contributions from your after-tax salary, then these contributions must be made to your SignatureSuper account within 28 days of the end of the month in which the deduction was made. SignatureSuper employer paid premiums and fees If you direct your SG contributions away from SignatureSuper to another super fund and your SignatureSuper employer was paying your insurance premiums or fees, your SignatureSuper employer may decide to stop meeting these costs. If you are aged 65 or over and Additional Employer contributions cannot be made (see When can we accept contributions? section), your SignatureSuper employer will be legally prevented from paying your insurance premiums and fees. If either of these situations occurs, we will move you to a separate membership category within the SignatureSuper Plan, where the member fee and all insurance premiums will now be paid by you. You will receive an interim statement advising this change. This statement will confirm the amount of insurance cover, the premiums and member fee (if applicable) to be deducted from your account balance in future. 1. If you retain your insurance cover in SignatureSuper and redirect your SG contributions elsewhere, you should check whether you are able to acquire automatically accepted insurance in the new superannuation fund and whether you are entitled to claim such benefits in the future. 10

11 Keeping track of contributions made It is important for you to check your Member Statements to make sure your employer is making the right amount of contributions. We don t follow-up your employer to make sure they are paying your contributions. If there is a discrepancy, then you should speak to your employer. You should also check that the amount of Government co-contributions is correct. You have been automatically registered for our online My Portfolio service on signaturesuper.amp.com.au to view details about your SignatureSuper account at your convenience. Dormant accounts transfer to a personal account If you want to keep your member account in SignatureSuper you need to make regular contributions or ensure your account balance remains above $1,000 (or such other amount the trustee agrees with your SignatureSuper employer). We will periodically check for dormant accounts in SignatureSuper being accounts with low account balances where no contributions have been received for more than 12 months. If: no contributions have been received into your account for more than 12 months, and at the time of checking, your account balance is less than $1,000, we will write to you (and, if applicable, your SignatureSuper employer) notifying you that we will close your SignatureSuper account within 60 days unless we receive additional contributions. If we don t receive contributions sufficient to increase your account balance above the applicable amount within 60 days, we will close your SignatureSuper account. We will then transfer your account balance to a personal account in Flexible Lifetime Super or SignatureSuper Personal (see your Plan Summary for more details). Your insurance cover may cease 60 days (or such period agreed with the Plan s Insurer) after the date that your SignatureSuper account is closed. If this occurs, you should consider whether you need to take out insurance cover appropriate to your circumstances. Within this 60 day period, you may be able to apply for a personal insurance policy under a Continuation Option with the Insurer. Member Sub-Accounts Your SignatureSuper Plan maintains various sub-accounts for you. The main sub-accounts available are: Employer main sub-account: Records minimum contributions required under an industrial award or agreement or the Superannuation Guarantee legislation. Employer Additional sub-account: Records any additional contributions made at the employer s discretion. Salary Sacrifice sub-account: Records contributions your employer makes for you instead of paying salary. Member sub-account: Records Member and Spouse contributions, either regular or occasional, made from after-tax income and Government co-contributions. Rollover sub-account: Records amounts that you roll over from a previous super plan or rollover fund. For Employee members, your Employer Additional account (if any) may be subject to a vesting scale. If a vesting scale applies, you may only become entitled to the full balance of this Employer Additional sub-account over time or if you leave in specific circumstances. To see if a vesting scale applies to you, please refer to your Plan Summary. Please refer to your Member Statement and Plan Summary for the sub-accounts that apply to you. 11

12 Investment features The investment options available to you are set out in the Investment Guide Fact Sheet and your Plan Summary. These also contain information regarding the AMP MySuper investment option that applies if you have not chosen an option. Changing your investment options Switching You can switch between investment options at any time. There is currently no fee for switching between investment options. Once we have received an investment option switch request it cannot be cancelled. You can switch your investment options or change the investment options you have selected for future contributions (or do both) except where you have chosen the SignatureSuper Lifestages investment approach. While invested in SignatureSuper Lifestages, you may not select any other investment options. If you wish to switch from SignatureSuper Lifestages to another investment option, you will need to switch your entire SignatureSuper Lifestages balance. If you wish to change your investment options, use the Investment options selection form which can be obtained by visiting amp.com.au/signaturesuper/forms or by contacting us. Before you decide to switch, we recommend you speak to a financial planner. Deciding what type of investor you are Everybody has a different investment goal, timeframe and attitude to risk which will likely change over time, depending on circumstances and life stage. To help decide what type of investor you are, you may choose to consult with a financial planner. AMP provides online tools and information which can help to get you started. Visit amp.com.au/investments. The AMP risk simulator What investor style am I? is a quick way to help you work out the investment style that is most appropriate for you and what types of investments you might consider. The simulator demonstrates the relationship between risk and return as well as the impact of your time horizon. Visit amp.com.au/investorstyle. There are also a number of other calculators available from AMP which you may find useful. Just visit amp.com.au/calculators or alternatively we have a range of educational videos designed so you can make informed and confident choices about your financial future on amp.com.au/videos. Authority for your planner to submit an investment switch By giving a Limited Authority to Operate to your financial planner, you are instructing AMP to accept investment switching requests from your planner on your behalf by completing the Confirmation of Limited Authority to Operate form. The effect of submitting the Confirmation of Limited Authority to Operate form is that your financial planner will be able to switch investment options in relation to your account at any time without the need for you to complete a switch form. You are not authorising your financial planner to operate your account in any other way. If you change your financial planner or cancel your financial planner s Limited Authority to Operate, you must tell us immediately in writing or by completing section 2 of the Confirmation of Limited Authority to Operate form. If you do not inform us, we will continue to act on your existing instructions. Please note: The availability of this feature is subject to your financial planner s advice licensee. This is only available where the advice licensee has an arrangement in place with AMP Life. Auto-rebalancing automatic switching When you provide us with your nominated investment profile you are telling us how you want your contributions invested (for example, 50% to Option A and 50% to Option B). Over time, due to unit price/crediting rate and interest rate movements, the value of investment options will change relative to one another. If you hold more than one investment option, the percentage amounts of your total portfolio invested in each of your investment options may change. The auto-rebalancing facility automatically rebalances the percentage (%) amounts within each of your investment options, back in line with your preferred nominated investment profile that you most recently told us. We refer to these percentage amounts as weightings. The auto-rebalance is implemented only if the variation from your nominated investment profile is more than 2%. 12

13 How often does auto-rebalancing occur? You can choose to have your investment options automatically rebalanced: quarterly, on or around 10 February, 10 May, 10 August and 10 November, or half yearly, on or around 10 February and 10 August, or yearly, on or around 10 August each year. If any of these dates fall on a weekend or a Sydney public holiday, we will rebalance your account on the next Sydney Business Day. How do you select auto-rebalancing? You can arrange auto-rebalancing at any time by completing the Investment options selection form. Simply: 1. Select the frequency for rebalancing your investments, and 2. Provide your preferred nominated investment profile. Alternatively, you can add this facility at a later date, by advising us of your preferred auto-rebalancing frequency and nominated investment profile. To do that, complete the Investment options selection form. Important information about auto-rebalancing There is currently no fee charged for auto-rebalancing. If you select only one investment option, SignatureSuper LifeStages or a Term Deposit investment option, then you will not be able to apply for auto-rebalancing. All future contributions, switches, or withdrawals may affect your auto-rebalancing facility. In other words, if you buy or sell units outside your nominated investment profile then we will automatically cancel the autorebalancing facility, unless you tell us you want to change your nominated investment profile. The value of your account If you have an accumulation account, the value of your account is made up of: Contributions Rollovers or transfers Any positive investment earnings Any Large Plan discount or MySuper Large Plan discount Any insurance benefits paid in LESS Fees, other costs, tax and any other Government charges Any negative investment earnings Any insurance premiums and stamp duty (if applicable) Any withdrawals Any fees agreed with a financial planner (if applicable). If you are a defined benefit member, pension member or a deferred member, part or all of your investment may be determined by a formula instead of an account balance. Details are set out in your Plan Summary. How your money is invested We invest all contributions to the fund in group life policies held with AMP Life. Those policies then invest in the underlying investment options. By investing in a specific investment option you do not receive any direct entitlement to the assets underlying the investment option. Unitised investment options When you invest, we allocate units to you based upon the investment option(s) you selected. To pay withdrawals, process switches, pay tax and insurance premiums, as well as pay some fees, we will redeem (cash) units from your investment options. The value of your investment in an investment option is equal to the number of units held for you multiplied by the unit price at that time. Separate unit prices are calculated for each investment option. For each investment option: Value of your investment option = Unit price Setting unit prices x Number of units held in the investment option AMP Life values the assets in each investment option at market prices. In valuing assets, it makes allowances (based on estimates) for: Tax on investment income and capital gains (including the effects of imputation credits and deferred tax on unrealised gains). The costs of transacting (including brokerage). Operational costs incurred in maintaining property and other direct investments. Any Administration Fees or MySuper Administration Fees. Any Investment Fees or MySuper Investment Fees, and Any Performance Based Fees. The result of this valuation is then divided by the total number of units allocated to give the unit price. Unit prices will generally rise and fall with movements in the value of the underlying assets. If new investments are expected to exceed withdrawals from an investment option, then asset values may be adjusted by adding an allowance for some or all of the costs of buying assets. This will increase the unit price. If new investments are expected to be less than withdrawals from an investment option, then asset values may be adjusted by subtracting an allowance for some or all of the costs of selling assets. This will decrease the unit price. However, instead of the above, a Release Price (see the Release price section in the Fees and other costs section of this Fact Sheet) may be applied when a SignatureSuper employer requests: all or part of the assets invested in a plan account to be switched to another investment option, or a withdrawal in order to transfer funds to another super plan or fund. 13

14 In these cases, asset values will be adjusted by subtracting the estimated costs of selling assets, thereby reducing the unit price (Release Price). Calculating unit prices AMP Life normally calculates unit prices at least once each Sydney Business Day. Generally, it makes this price available the next Sydney Business Day. The calculation is based on the most recent assessment of the value of the assets less any liabilities, divided by the total number of units in the investment option. Unit prices will always be calculated (except in extreme/unusual circumstances) at least weekly. The unit price you will receive When you ask us to transact on your account: If we receive all information relevant to your request (and, if applicable, the contribution payment or investment) at an AMP processing centre by 3pm Sydney time on a Sydney Business Day, you will receive the latest unit price calculated for that day. If we receive all relevant information for your request (and, if applicable, the contribution payment or investment) at an AMP processing centre after 3pm Sydney time on a Sydney Business Day you will receive the unit price applicable for the next Sydney Business Day. This applies when you ask us to withdraw money, make a switch between investment options, or invest contributions, transfers or rollovers. However, where there is a delay or suspension of payment from an investment option by an underlying fund manager due to a lack of liquidity, the unit price you will receive will be the unit price at the time the funds become available to AMP Life in respect of that option. Monitoring unit prices AMP Life has processes in place to check the accuracy of unit prices. Unit pricing is a process comprising many inputs (for example, the valuation of assets). The unit prices can sometimes be found to be incorrect because of errors made at some point in the process. To the extent that you may have transacted on this unit price, your account may require a unit price correction. If this occurs, a tolerance of 0.30% of the unit price of the affected investment option has been set to determine if a correction needs to be made. If a unit pricing error is less than 0.30%, generally no correction will be made. However, if an error is equal to or greater than 0.30% and the error affects (or affected) the value of your transaction in the affected investment option, AMP Life will seek to pay you compensation. In the circumstance that AMP is required to pay you compensation then AMP Life will either: 1. pay compensation directly into your account, or 2. if you have closed your account, a. pay compensation directly into another AMP account you have, or b. if your benefit is not required to be preserved, send you a compensation payment (for example by cheque) if the payment would be an amount above a dollar minimum set by the trustee, or c. if the payment would be below a dollar minimum agreed by the trustee, the compensation amount will be contributed on an unallocated basis into the AMP Superannuation Savings Trust (the fund), or d. AMP will roll the compensation into the AMP Eligible Rollover Fund (ERF), or e. if we are not able to contact you to make the payment to you, the compensation amount will be contributed on an unallocated basis into the fund. The trustee, acting in your interests, and AMP Life may agree to make other adjustments, as appropriate. The tolerances and related processes and procedures described above generally reflect industry practice. Under the life policies the trustee has with AMP Life, AMP Life can change the fees. See Fees and other costs. If any dispute arises about your benefits in, or about any other aspect of SignatureSuper, then the trust deed and the policy documents will prevail. Crediting rate investment options Some investment options have a crediting rate instead of a unit price. The crediting rate can change at any time without notice. The investment return based on the crediting rate is accrued daily and is credited to your account monthly or annually according to the interest payment frequency of the option, at maturity or when you withdraw from the investment option. Generally, crediting rates are not guaranteed and can be negative. When you invest, we increase your account balance in your crediting rate investment options. To pay withdrawals, process switches, as well as pay some fees, we will decrease the account balance of your crediting rate investment options as applicable. 14

15 Switches and withdrawals may be delayed We may delay or suspend switches or withdrawals from your account if: There are delays by investment managers or banks responsible for processing transactions for underlying investments, in processing our request for example, if the investment manager delays issuing unit prices or the bank or investment manager suspends transactions. A switch or withdrawal would adversely affect the interests of, or if we do not consider it in the best interests of, members in the relevant investment options as a whole. We are unable to realise sufficient assets to satisfy your payment due to circumstances outside our control for example, restricted or suspended trading in the market for an asset. The delays or suspensions of payment could be for weeks, months or even years. We are not responsible for any losses caused by these delays. If a delay or suspension of payment from the investment option occurs, it will affect a number of transactions and features of this product, including, but not limited to: Features such as auto-rebalancing, which may not be available. Switches and withdrawals, including rollovers, transfers and the payments of insurance cover (eg Death and Total and Permanent Disablement (TPD) benefits) which may be made in more than one payment or be delayed. On death, the transfer of money from the affected investment option to the AMP Cash Plus investment option (which would normally occur automatically) may be delayed. 15

16 Fees and other costs Important notes We refer to investment options that are not the AMP MySuper investment option as Choice investment options. As this is an employer Plan, the SignatureSuper employer has negotiated the fees and costs applicable. A description of the fees and costs applicable to your account will be shown in your Plan Summary. If the SignatureSuper employer decides to leave the SignatureSuper Plan or switch assets invested in a plan account, you may incur additional costs see Release price section below. Some employers may have a tailored MySuper arrangement. Please see your Plan Summary for fees, investment option and product dashboard information specific to your plan. This document shows fees and other costs that you may be charged. These fees and other costs may be deducted from your money, from the returns on your investment or from the assets of the superannuation entity as a whole. Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will depend on the nature of the activity, advice or insurance chosen by you. Taxes are set out in another part of this document. Insurance fees and other costs relating to insurance are set out in another part of this document and in the applicable Insurance Guide Fact Sheet. You should read all the information about fees and other costs because it is important to understand their impact on your investment. The fees and other costs for the AMP MySuper investment option and each Choice investment offered in SignatureSuper are set out below and in the Investment Guide Fact Sheet. Fees and other costs for the AMP MySuper investment option (Please see the next table for Choice investment option fees) SignatureSuper AMP MySuper investment option Type of fee Amount How and when paid Investment fee 0.40% pa of the amount invested in the MySuper investment option The MySuper Investment Fee is deducted daily from the assets of the relevant age cohort in the AMP MySuper investment option and reflected in the daily unit price. It is not deducted directly from your account. Plus a Performance Based Fee (PBF) of up to 25% of the outperformance over the benchmark index for the investment manager. (i) Performance Based Fees are paid to certain investment managers when they meet specific investment performance targets. These fees are deducted from the assets of the relevant age cohort in the AMP MySuper investment option and are reflected in the daily unit price when these targets are met (see Performance Based Fees for more details). 16

17 SignatureSuper AMP MySuper investment option Type of fee Amount How and when paid Administration fee 0.64% pa of the amount invested in the MySuper investment option. The MySuper Administration Fee is deducted daily from the assets of the relevant age cohort in the AMP MySuper investment option and is reflected in the daily unit price which applies to your AMP MySuper investment option. It is not deducted directly from your account. Less MySuper Large Plan Discount (ii) Your employer may have negotiated a MySuper Large Plan Discount (ii). See Additional explanation of fees and costs for further details. Please see your Plan Summary for the percentage that applies to you. Plus a $1.64 MySuper Member Fee per week as at 1 July This fee will increase on 1 July each year in line with the Consumer Price Index (CPI). When negotiating the MySuper Large Plan Discount (ii) we may allow for a SignatureSuper employer to pay for part of the MySuper Administration Fee. An increase in the discount effectively reduces the MySuper Administration Fees. Details are in your Plan Summary. A MySuper Large Plan Discount (ii) may apply and if applicable is paid directly into your account at the end of month by issuing additional units in the AMP MySuper investment option. This usually occurs within seven Sydney Business Days after the end of the month. The MySuper Member Fee is deducted from your account, usually within seven Sydney Business Days of the end of each month. The MySuper Member Fee is deducted from the AMP MySuper investment option only. The MySuper Member Fee is deducted by cashing units in the relevant age cohort in the AMP MySuper investment. If you are also invested in Choice investment options, the MySuper Member Fee will be deducted from your MySuper assets and any excess of an applicable Member fee over the MySuper Member fee will be deducted from your Choice investment option(s). Buy-sell spread Nil n/a Switching fee Nil n/a Exit fee $36.00 (iii)(iv) as at 1 July This fee will increase on 1 July each year in line The MySuper Exit Fee (iii)(iv) is deducted directly from your account on a part or full withdrawal from the superannuation fund. with the Consumer Price Index (CPI). Advice fees relating to all members investing in a particular MySuper product or investment option Nil n/a Other fees and costs (v) MySuper Investment Option name Estimated Transaction costs (vi) (% of each amount you invest in or withdraw from the investment) AMP MySuper 1990s % AMP MySuper 1980s % AMP MySuper 1970s % AMP MySuper 1960s % AMP MySuper 1950s % AMP MySuper % Capital Stable See Additional Explanation of Fees and Costs and the applicable Insurance Guide Fact Sheet. Indirect cost ratio Nil n/a Other fees and costs include: Estimated transaction costs are an additional cost reflected in the calculation of the daily unit price of an investment option and are not charged separately. You and your financial planner may agree on a fee for financial planning services. Insurance premiums will also apply if you have insurance. (i) A PBF may be charged for the AMP MySuper investment option. For more information see the Investment Guide Fact Sheet. (ii) If a MySuper large plan discount applies it may cease if you leave your employer. (iii) The MySuper Exit Fee may not apply if you are in a tailored MySuper plan. Refer to your Plan Summary to check if this applies to you. (iv) The MySuper Exit Fee does not apply to a withdrawal made to satisfy a payment to the ATO under a Release Authority. (v) For more information on other fees and costs, such as activity fees, advice fees for personal advice or insurance fees, see the Additional explanation of fees and costs in this Fact Sheet and the applicable Insurance Guide Fact Sheet. (vi) These other fees and costs include estimates of a fund s transaction costs which are a reasonable approximation of the anticipated transaction costs for the investment option based on the information available to AMP at the date of this document. The actual transaction costs for an investment option depend primarily on the type of assets in the investment option and the frequency of trading those assets. As a result, the actual transaction costs for an investment option under normal market conditions may vary from the estimated amount at any time by up to 0.20%. Transaction costs may vary by more than 0.20% under abnormal or difficult market conditions. See Transaction and Operational Costs in this Fact Sheet for further details. 17

18 Fees and other costs for Choice investment options SignatureSuper Choice investment options Type of fee Amount How and when paid Investment fee Administration fee Buy-sell spread Investment Fee The amount you pay for specific investment options will range from 0.25% to 2.20% pa of the amount you have invested in the investment option each year. (i) Plus Performance Based Fees of up to 25% of the outperformance over the index for the investment manager. Investment options with Performance Based Fees are shown in the Investment Guide Fact Sheet Administration Fee 0.74% pa of the amount invested in choice investment options. (ii) Plus a Member Fee ranging from $0 to $20 per month, unless your employer has negotiated a higher member fee. This fee will increase on 1 July each year in line with the Consumer Price Index (CPI). See your Plan Summary for the Member Fee that applies to you. Less a Large Plan Discount Please see your Plan Summary for the percentage that applies to you. Plus, for some plans: a Defined Benefit Fee. If applicable, this fee will increase in line with the CPI on 1 July each year Plus, for plans where insurance cover is provided by an insurer other than AMP Life: an Insurance Administration Fee of up to 10% of insurance premiums (including applicable stamp duty) may be charged. Nil, except where a release price is charged (iii) The Investment Fee is deducted from the assets of each investment option and is reflected in the daily unit price or crediting rate when declared. They are not deducted directly from your account. Performance Based Fees are paid to certain investment managers when they meet specific investment performance targets. These fees are deducted from the assets of the relevant investment option and are reflected in the daily unit price or crediting rate when these targets are met (see Performance Based Fees for more details). The Administration Fee is deducted daily from the assets of each investment option and is reflected in the daily unit price or crediting rate when declared. They are not deducted directly from your account. The Member Fee is deducted from your account, usually within seven Sydney Business Days of the end of each month. The Member Fee is deducted proportionately from each investment option (excluding the AMP MySuper investment option) according to the proportion of your total account balance invested in each option. The Member Fee is deducted: from a unitised investment option, by cashing units in that option, or from a crediting rate investment option, by decreasing your account balance in that option. If you are also invested in the AMP MySuper investment option, the MySuper Member Fee will be deducted from your MySuper assets and any excess of an applicable Member fee over the MySuper Member fee will be deducted from your Choice investment option(s). If you are invested in the AMP MySuper investment option and Term Deposits only, any excess of an applicable Member Fee is accrued and deducted from interest payments or on break of the Term Deposit. Negotiated between your employer and us. See Additional explanation of fees and costs for further details. When negotiating the LPD we may allow for a SignatureSuper employer to pay for part of the Administration Fee. An increase in the discount effectively reduces the Administration Fees. Details are in your Plan Summary. The LPD, if applicable, is normally paid directly into your account at the end of each month by issuing additional units in your unitised investment options and by increasing your account balance in your crediting rate investment options. This usually occurs within seven Sydney Business Days after the end of the month. The Defined Benefit Fee (if applicable) will be paid (usually quarterly or as otherwise required), from the assets of the Plan that support the defined benefits. This fee is negotiated between your employer and us, depending on the level of services required. See your Plan Summary for details. The Insurance Administration Fee will be included in the insurance costs, and paid in the same way as insurance premiums. If not paid by your SignatureSuper employer (agreed between the SignatureSuper employer and the trustee), the Insurance Administration Fee will be deducted at the end of each month from your account by cashing units from each unitised investment option, and by decreasing your account balance for each crediting rate investment option (excluding AMP Term Deposits). Details are in your Plan Summary. n/a Switching fee Nil n/a Exit fee Nil n/a 18

19 SignatureSuper Choice investment options Type of fee Amount How and when paid Advice fees relating to all members investing in a particular MySuper product or investment option Nil n/a Other fees and costs (iv) % of each amount you invest in or withdraw from the investment option (v),(vi) Up to 0.08% pa of amount invested in investment option (vi) See Additional Explanation of Fees and the applicable Insurance Guide Fact Sheet for further information. Indirect cost ratio 0% n/a Other fees and costs Include: Estimated transaction costs are an additional cost reflected in the calculation of the daily unit price of an investment option and are not charged separately. Estimated other costs that are variable from time to time and are deducted from the assets of the relevant investment option as they are incurred. These costs are not charged separately and only apply to specific investment options that are identified in the Investment Guide Fact Sheet You and your financial planner may agree on fees for financial planning services. Insurance premiums will also apply if you have insurance. (i) For the Specialist Geared Australian Share investment option, the fee is paid on the gross amount invested. (ii) The Federal Government has introduced Stronger Super, a program of changes designed to streamline and strengthen Australia s superannuation system. The Management Fees include 0.04% p.a. to help cover the costs associated with implementing these changes. This amount is expected to be removed from the Management Fees by 1 November (iii) A release price may be charged in limited circumstances. See Additional explanation of fees and costs section for further information. (iv) For more information on other fees and costs, such as activity fees, advice fees for personal advice or insurance fees, see the Additional explanation of fees and costs in this Fact Sheet and the applicable Insurance Guide Fact Sheet. (v) These other fees and costs include estimates of a fund s transaction costs which are a reasonable approximation of the anticipated transaction costs for the investment option based on the information available to AMP at the date of this document. The actual transaction costs for an investment option depend primarily on the type of assets in the investment option and the frequency of trading those assets. As a result, the actual transaction costs for an investment option under normal market conditions may vary from the estimated amount at any time by up to 0.20%. Transaction costs may vary by more than 0.20% under abnormal or difficult market conditions. (vi) For more information see Transaction and Operational Costs in this Fact Sheet. Additional explanation of fees and costs Taxation and fees The actual amount of fees you pay (or rebates you receive) will be reduced by up to 15%. This is because super funds currently receive a 15% tax deduction for deductible expenses. The benefit of this tax deduction is passed on to you. The fees and rebates shown in the tables of Fees and other costs section of this Fact Sheet and in the PDS are before the 15% tax deduction. The fees described in the tables of Fees and other costs section of this Fact Sheet include, if applicable, GST less input tax credits. For more information about tax and your superannuation, please refer to the How super is taxed section of the PDS and the Tax and Social Security section of this Fact Sheet. Large Plan Discount (LPD) A Large Plan Discount, if applicable, means that you receive a rebate of part of 0.74% Administration Fee depending on your account balance. Your applicable LPD will be shown in your Plan Summary. The LPD you receive is calculated based on your account balance (excluding amounts invested in the AMP MySuper investment option) at the end of the month, and paid into your SignatureSuper account at that time. If you receive a LPD, the actual amount you receive will be shown on your Member Statement as a dollar figure. If you withdraw your money before the end of the month or before the discount is paid, no LPD will be payable to you for that month. Also, when plan assets are transferred to the Plan (other than on the first of the month), a proportioned LPD may apply based on the asset weighting and the number of days the new assets are held within the Plan. If you leave your employer, a LPD may no longer apply or a different LPD may apply. 19

20 The MySuper Large Plan Discount Your employer may have negotiated discounted MySuper Administration Fees in recognition of efficiencies within your plan. This discount only applies to the balance held in the AMP MySuper investment option and is credited to your account in the form of a MySuper Large Plan Discount. If applicable, your MySuper Large Plan Discount will be shown in your Plan Summary and on your Member Statement. This discount can change each month depending on the amount invested in the AMP MySuper investment option. If you withdraw your money before the end of the month, or before the discount is paid, no My Super Large Plan Discount will be payable to you for that month. Also, when plan assets are transferred to the Plan (other than on the first of the month), a proportioned MySuper Large Plan discount will apply based on the asset weighting and the number of days the new assets are held within the Plan. If you leave your employer, a MySuper Large Plan Discount may no longer apply. If you are transferred automatically to a personal arrangement in the circumstances set out in the Leaving the SignatureSuper Employer Plan section below, the MySuper Large Plan Discount will no longer apply in your personal arrangement. SignatureSuper employer paid fees (employee members only) Your SignatureSuper employer may have agreed to pay some of your Fees, insurance premiums, MySuper Administration Fee or MySuper Member Fee. If your SignatureSuper employer has agreed to pay your fees or insurance premiums and does not make those payments within 90 days of their due date, or you are aged 65 or over and Additional Employer Contributions can t be legally made (see When can we accept contributions? under the section How to transact) we will deduct the payments from your account and change the arrangement so that fees and/or insurance premiums are deducted from your account in future. We will give you at least 30 days notice before we make this change, to give you time to discuss the overdue fees/ premiums with the SignatureSuper employer. If the overdue amounts are not received within 90 days of their original due date, we will make the changes outlined above and write to you to confirm we have made the change. Insurance Administration Fee An Insurance Administration Fee does not apply if the Insurer is AMP Life. An Insurance Administration Fee may be applicable, if the Insurer is other than AMP Life. The trustee determines (after consultation with the SignatureSuper employer) which Insurer will provide your insurance cover. If an Insurance Administration Fee applies, it may be up to 10% of insurance premiums (including any applicable stamp duty). This fee is only charged in respect of amounts invested in Choice investment option(s), not the AMP MySuper investment option, and is in addition to the Insurance premium charged by the Insurer. The Insurance Administration Fee, if not paid for by your SignatureSuper employer, is included within the insurance premium. It is deducted at the end of each month from your account, by cashing units from each unitised investment option or by decreasing your account balance for each crediting rate investment option (excluding AMP Term Deposits). For example: Let s assume Brad s SignatureSuper employer has chosen XYZ Insurer (not AMP Life) to provide the Plan s insurance cover. An Insurance Administration Fee of 5% has been negotiated for the Plan. Let s also assume that Brad s insurance premium from XYZ is $100 pa. Brad s total premium shown on his Member Statement would be: $105 which equals his insurance premium of $100 plus an insurance Administration Fee of $5 ($100 x 5%). Note: The above example is provided by way of illustration only and is based on the facts given. The example should not be considered to reflect the amount of the Insurance Administration Fee you will pay. Your Plan Summary will specify your plan s Insurance Administration Fee (if applicable). Insurance fees and other costs For more information about the costs of insurance, see the Insurance in your super section of the PDS, your Plan Summary and the applicable Insurance Guide Fact Sheet. Performance Based Fees A Performance Based Fee (PBF) may be charged for some investment options. Investment options with a PBF are shown in the Investment Guide Fact Sheet. A PBF is an arrangement to reward an investment manager if the manager exceeds specific investment performance targets. Each investment option invests in one or more asset classes. A PBF may apply to one or more of the asset classes in which the investment option is invested. The effect of a PBF varies between investment options. If a PBF is charged, it is part of the investment fee that applies to your account, as set out in the Fees and other costs table above. Any fee charged is incorporated into the investment option s unit price (or crediting rate if applicable); it is not deducted separately from your account. 20

21 Method of calculation PBFs are structured so that the investment manager shares in the investment return achieved over and in excess of an applicable benchmark index (benchmark). The benchmark is tailored to the asset class managed by the investment manager. Some investment options may have multiple underlying investment managers. Therefore, multi-sector and multi-manager investment options may have a number of investment managers with PBFs, and each PBF will be determined based on each investment manager s performance. This means an individual manager can earn its PBF irrespective of the investment option s overall investment returns. In determining whether a PBF is to be paid to an investment manager, the benchmark indices as shown in the following table may be used. Asset class Sub-asset class Standard benchmark index (i) International shares Australian shares Large investment entities in developed markets Small investment entities in North America Small investment entities Small investment entities in Europe Small investment entities in Asia All investment entities in emerging markets All investment entities in Asia ex-japan Large investment entities Small investment entities MSCI World (ex-australia) Index (Net Dividends Reinvested) MSCI World Index (Net Dividends Reinvested) MSCI All Country World Index (Net Dividends Reinvested) MSCI World (ex-australia) Growth Index (Net Dividends Reinvested) MSCI World (ex-australia) Value Index (Net Dividends Reinvested) MSCI North America Small Caps Index MSCI USA Small Cap Growth Index (Net Dividends Reinvested) MSCI USA Small Cap Value Growth Index (Net Dividends Reinvested) MSCI Canada Small Caps Index MSCI Canada Small Cap Value Index (Net Dividends Reinvested) MSCI World Small Caps Index (Net Dividends Reinvested) MSCI Europe Small Caps Index (Net Dividends Reinvested) MSCI Japan Small Caps Index MSCI Japan Small Cap Value Index (Net Dividends Reinvested) MSCI Hong Kong Small Cap Value Index (Net Dividends Reinvested) MSCI Singapore Small Cap Value Index (Net Dividends Reinvested) MSCI New Zealand Small Cap Value Index (Net Dividends Reinvested) MSCI Asia Pacific (ex-australia) Small Caps Index MSCI Emerging Markets Index S&P/Citigroup Emerging Markets Index MSCI All Country Asia (ex-japan) Index MSCI Asia ex-japan Small Caps Index S&P Asia ex-japan Small Cap S&P/ASX 300 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX Small Ordinaries Accumulation Index Alternative assets (iii) Hedge funds Reserve Bank of Australia cash rate (ii) UBS Bank Bill Index Infrastructure Various, including a fixed annual return, equity indices (eg S&P/ASX 300 Accumulation Index) or a long-term bond yield plus a margin Private equity Various, including a fixed annual return, equity indices (MSCI US Index) or a zero benchmark for fund of funds Opportunistic Various, including a fixed annual return, equity indices (eg S&P/ASX 300 Accumulation Index), a cash rate (eg London Interbank Offered Rate, Reserve Bank Cash), inflation rate, high yield credit index or a long term bond yield or an income return from an industry index (eg ABARE Farm Survey) Direct property (iii) N/A Various, including Mercer Unlisted Property Index, a fixed annual return or a long-term bond yield plus a margin Listed property Global listed property UBS Global Real Estate Investors Index (iv) Various, including the FTSE EPRA/NAREIT Global Real Estate series of indices Australian listed property S&P/ASX 300 A-REIT Accumulation Index S&P/ASX 200 A-REIT Accumulation Index 21

22 Asset class Sub-asset class Standard benchmark index (i) International fixed interest Global fixed income Barclays Capital Global Aggregate Index Barclays Capital Global Aggregate Index ex-securitised Global credit Barclays Capital Global Aggregate Index ex-treasuries JP Morgan Global High Yield Index Credit Suisse Leveraged Loan Index JP Morgan EMBI Global Index Barclays Capital US Aggregate Credit Corporate Investment Grade Index 3 month US Dollar LIBOR Global sovereign bonds Barclays Capital Global Aggregate Treasury Index Barclays Capital Global Treasury GDP Index Barclays Capital Global Treasury GDP Index Weighted by Country Bloc US securitised securities Barclays Capital Global Aggregate US Securitised Index Inflation linked bonds Barclays Capital World Government Inflation Linked Bonds Index ex- Australia Enhanced index Citibank World Government Bond Index Barclays Capital Global Treasury GDP Index Weighted by Country Australian fixed interest Australian fixed income (aggregate) UBS Australia Bank Bill Index (iv) UBS Composite Bond (All Maturities) Index (iv) Inflation linked bonds UBS Credit Index 0+ (iv) UBS Government Bond Index 0+Yr (iv) UBS Government Inflation Linked Bonds Index, various sub-indices of the UBS Government Inflation Linked Bonds Index, or a custom benchmark based on the UBS Government Inflation Linked Bond Index (adjusted by other fixed income benchmarks/instruments) (iv) (i) For some investment managers, the applicable benchmark may be the standard benchmark index plus a percentage or an equivalent benchmark to the standard benchmark, or a customised benchmark. Refer to the aim and strategy for each investment option. (ii) Hedge funds focus on generating positive returns in all market conditions and the benchmark is typically related to cash. (iii) There is no standard index for either the Direct Property asset class or the Alternative Assets asset class. The benchmark for the underlying investment managers has regard to the type of direct property and alternative assets being managed. Direct property typically uses valuations provided by qualified valuers, while Alternative Assets uses methods agreed with the individual investment manager. (iv) These UBS indices will be re-branded Bloomberg in the second half of Changes to benchmark indices We may identify additional sub-asset classes from time to time and adopt suitable additional benchmark indices for these sub-sectors. Performance Based Fee example The following example is provided by way of illustration only. It is based on the following hypothetical investment option. The example should not be taken as the amount of the actual PBF in relation to this product. The actual performance based fees for each investment option will depend on various other factors. ABC Investment Option is a hypothetical Multi-sector (Traditional) investment option. It has a multimanager investment approach and certain investment managers within some of the asset classes have a PBF of up to 25% of their outperformance over their relevant benchmark index. For the purpose of this example, the following three assumptions apply. Assumption 1 The ABC Investment Option s asset allocation (by asset class) and percentage of investment managers for each asset class entitled to PBFs is shown in the table below. Asset class (A) % allocation to each asset class (B) % of managers entitled to a PBF International shares Australian shares Alternative assets (growth) Direct property 6 20 Listed property 6 20 Alternative assets (defensive) International fixed interest 7 0 Australian fixed interest Cash 3 0 Assumption 2 PBF as a % of outperformance payable for all asset classes = 25% Assumption 3 Performance in excess of the benchmark for each investment manager = 1% 22

23 The estimated PBF for each asset class is calculated using the following formula: (A) Allocation to an asset class (Assumption 1) x (B) % of managers entitled to a PBF (Assumption 1) x (25%) PBF as a % of outperformance (Assumption 2) x (1%) the performance in excess of the benchmark (Assumption 3) Based on the calculation below, if you have a balance of $100,000 in the ABC Investment Option and if the outperformance of 1% by all the managers occurs in one year, the total PBF to you for this option across all the asset classes would be $ Asset Sector Assumption 1 (%) Assumption 1 (%) Assumption 2 Assumption 3 Total PBF Total PBF (A) (B) (%) (%) (%) ($) International Shares 27% 100% 25% 1% % $67.50 Australian Shares 28% 45% 25% 1% % $31.50 Alternative Assets (growth) 12% 100% 25% 1% % $30.00 Direct & Listed Property 6% 20% 25% 1% % $3.00 Alternative Assets (defensive) 6% 100% 25% 1% % $15.00 International Fixed Interest 7% 0% 25% 1% % $ Australian Fixed Interest 11% 40% 25% 1% % $11.00 Cash 3% 0% 25% 1% % $ Total = $ Further information For each investment option that has one or more investment managers who can earn a PBF, further details of the Investment manager s current performance fee rates and benchmark indices are available at no additional charge to you. For estimates of the PBFs for each of the investment options, please refer to the Investment Guide Fact Sheet. Transaction and operational costs Transaction costs The Other fees and costs in the table of Fees and other costs for the AMP MySuper investment options and choice investment options includes estimated transaction costs which are an additional cost to you reflected in the calculation of the daily unit price of the investment options you hold and are not charged separately. The estimated transaction costs may change on a regular basis at any time without notice to you. Estimated transaction costs for each investment option are shown in the Investment Guide Fact Sheet. The estimated transaction costs are the costs of buying and selling assets in the investment options you choose. They include brokerage, settlement and clearing of the assets, commissions and Government taxes and duties. Transaction costs are dependent on the number and amount of assets bought and sold and cannot be predicted in any period. When AMP Life is determining unit prices, the underlying asset valuation of an investment option depends (amongst other things) on whether it allows for estimated transaction costs in the valuation. The amount of the transaction cost allowed for in the unit price remains within the assets of the investment option. It is not paid to AMP Life or the investment managers. Other Costs Other costs are the costs of managing direct investments for those investment options with exposure to direct (i.e. the alternative and direct property) assets. These costs are not fixed and may vary from time to time depending on the actual mix of assets of the investment options, and are included to the extent that we are able to estimate them. Operational costs You may also incur operational costs of maintaining direct investments and real property investments if these form part of the investment options you are invested in. These operational costs are costs you would have incurred if you had invested directly in the assets of the investment options. Operational costs are allowed for in the daily determination of the market value of assets used in unit pricing. Underlying investment costs Costs incurred in relation to underlying investments for investment options are included to the extent that we are able to estimate them. Certain asset classes (such as alternative assets) for some investment options invest in underlying investments that incur fees and expenses. For example, an underlying investment may incur establishment and organisational costs that depend on the types of assets selected and the proportion held by the underlying investment. These costs are not fixed and may vary from time to time. Fees and expenses charged in relation to the underlying investments reduce the net asset value of the relevant underlying investment and, in turn, the value of your investment. Release price If a SignatureSuper employer requests either: all or part of the assets invested in an investment option within a plan account to be switched to another investment option, or a withdrawal from SignatureSuper in order to transfer funds to another super plan or fund, AMP Life may subtract the estimated sale cost from proceeds of the underlying assets (which will reduce the unit price). The reduced unit price is called the release price. 23

24 Changing the fees The fees that currently apply to your SignatureSuper account are charged by AMP Life under a life policies issued to the Trustee. Under the policies, AMP Life is entitled to increase its fees by giving notice to the Trustee. The Trustee and AMP Life may also change the fees, or introduce new fees, if they agree. None of these changes require your consent. However, we will notify you at least 30 days before any increase in fees (other than CPI increases) or the introduction of new fees. The trust deed for the SST permits us to be paid remuneration out of the SST of up to 1% pa of a member s account balance and any plan reserves (for corporate category members) and up to 3% pa of a member s account balance (for other members). This is not currently charged, but we reserve the right to do so in the future. The MySuper Member Fee, MySuper Exit Fee and Member Fee is increased on 1 July each year in line with increases in the Consumer Price Index. We can change the PBF negotiated with investment managers without prior notice to you. However, we will give you at least 30 days prior notice if the percentage of outperformance over the benchmark for a PBF is greater than 25%. There are maximum fees set out in the life policies (issued by AMP Life) are follows: Fees and costs MySuper Administration Fee MySuper Investment Fee Maximum fee Up to 2.5% pa of the amount invested in the AMP MySuper investment option each year. No maximum. However, the management fee on the AMP MySuper investment option may only be increased up to a maximum of 1.5% pa at any time. Please contact us for a copy of the policy documents. These documents are also available online at amp.com.au/trusteedetails. Financial Planner arrangements A licensed financial planner represents an Australian Financial Services Licensee, which can include an AMP company. No fee is paid to a financial planner from the fees in the tables of Fees and other costs. Advice fees for Personal Advice You may agree with your financial planner for a fee to be paid for financial planning services provided to you. This fee may be: a one-off amount paid as a lump sum, and/or an ongoing fee, which will be deducted monthly, as either: a fixed amount, or a set percentage of your account balance (excluding amounts invested in the AMP MySuper investment option). Fees for personal advice must only be for services provided in respect of your SignatureSuper account and must not be used to pay for any other products of financial planning advice about broader non-super savings and investment opportunities. If a financial planner s AFS licensee has an agreement with AMP Life and the trustee agrees to it, AMP Life will be responsible for paying the fee and will charge a fee of an equivalent amount to your SignatureSuper account. Your financial planner may receive only part of the fee paid. Your financial planner s AFS licensee may also make additional payments to your financial planner. For more details of those payments and any other benefits, ask your financial planner. Advice fees for personal advice agreed with a financial planner will only be paid from the date your Super account balance first reaches $1,200 or more. If your account balance is $1,000 or less, or a payment of the above fee(s) would result in your account balance decreasing to $1,000 or less, no payment will apply. Your Member Statement will show any fees charged to your SignatureSuper account that corresponds to advice fees for personal advice paid to a financial planner s AFS licensee. Changing the Advice Fee You can change or cancel any ongoing fee by agreement with your financial planner and completing a Changing your Personalised Fee Structure form. We need to receive your completed form at least four Sydney Business Days before the end of the month, for the change or cancellation to apply in that month. 24

25 Defined Fees When used in the PDS (including this Member Guide and the Investment Guide), the following types of fees have the meaning described below. Activity fees A fee is an activity fee if: a) the fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee: i) that is engaged in at the request, or with the consent, of a member; or ii) that relates to a member and is required by law; and b) those costs are not otherwise charged as an administration fee, an investment fee, a buy-sell spread, a switching fee, an exit fee, an advice fee or an insurance fee. Administration fees An administration fee is a fee that relates to the administration or operation of the superannuation entity and includes costs incurred by the trustee of the entity that: a) relate to the administration or operation of the entity; and b) are not otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee. Advice fees A fee is an advice fee if: a) the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by: i) a trustee of the entity; or ii) another person acting as an employee of, or under an arrangement with, the trustee of the entity; and b) those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an insurance fee. Buy-sell spreads A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity. Exit fees An exit fee is a fee to recover the costs of disposing of all or part of members interests in the superannuation entity. Indirect cost ratio The indirect cost ratio (ICR), for a MySuper product or an investment option offered by a superannuation entity, is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the superannuation entity attributed to the MySuper product or investment option. Note: A dollar-based fee deducted directly from a member s account is not included in the indirect cost ratio. Insurance fee A fee is an insurance fee if: a) the fee relates directly to either or both of the following: i) insurance premiums paid by the trustee of a superannuation entity in relation to a member or members of the entity; ii) costs incurred by the trustee of a superannuation entity in relation to the provision of insurance for a member or members of the entity; and b) the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk; and c) the premiums and costs to which the fee relates are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an advice fee. Investment fees An investment fee is a fee that relates to the investment of the assets of a superannuation entity and includes: a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and b) costs incurred by the trustee of the entity that: i) relate to the investment of assets of the entity; and ii) are not otherwise charged as an administration fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee. Switching fees A switching fee is a fee to recover the costs of switching all or part of a member s interest in the superannuation entity from one class of beneficial interest in the entity to another. 25

26 Tax and social security This tax and social security information is of a general nature only and only considers Australian Commonwealth laws. Tax and social security laws are complex and can change. We recommend you discuss your own circumstances with your financial planner or tax adviser before you decide to invest. Tax Super is a long-term, tax advantaged way of saving to help you achieve the income and lifestyle you want in retirement and (if you have insurance) protecting you and your family if you die or become disabled. Generally, your super may be taxed: when contributions are made, while your money is invested, and when you withdraw money from super under age 60. When contributions are made A contributions tax of up to 15% applies to employer contributions such as Superannuation Guarantee, award, salary sacrifice, additional employer contributions, and member contributions for which a tax deduction is claimed. The contribution amount on which the tax is applied is reduced by a tax deduction for any death and disability insurance premiums you pay as part of your super. Currently, contributions tax is calculated and deducted from your plan quarterly and when you leave SignatureSuper before the end of the relevant quarter. The frequency may change to meet legislative requirements. Insurance premiums paid as part of your super are tax deductible to the trustee. Providing that we reasonably expect full value for this tax deduction in the relevant tax year, we will pass on the value of this benefit and it will be shown as a reduction in the contributions tax allowance payable on your account. If your income and certain contributions exceed $300,000 pa in a financial year, you will be liable for an additional 15% tax on the lesser of the excess over $300,000 and the contributions. A further tax (called the No-TFN tax ) of 34% applies to employer contributions if you do not give us your Tax File Number (TFN). There is no reduction to this taxable amount for insurance premiums. If you make after-tax member contributions or a Spouse makes a contribution to your plan, then contributions tax will not be deducted from these contributions. If you exceed your Contributions Caps, you will be required to pay additional tax of up to 47% (plus Medicare Levy) of the excess (refer to Contributions Caps below). This tax is levied on you personally and is in addition to income tax. The Government has announced changes to the treatment of excess non-concessional contributions to allow individuals to withdraw excess contributions and associated earnings. However, these changes have not yet been made law. Please visit for further information. The No-TFN tax of 34% for not supplying your TFN is calculated and deducted at the earlier of 30 June each year and when you leave SignatureSuper. The No-TFN tax may be offset if the TFN is supplied within four financial years from the start of the financial year when the contribution is made. Any refund will be added to your super benefit and will be subject to the usual cashing and taxing rules. The above rates are subject to Federal Budget changes becoming law. Please visit for further information. When you rollover or transfer money from another fund Generally, rollovers and transfers from taxed sources are not taxed when added to your super. However, any remaining super surcharge liability arising in your previous fund may be transferred to your new plan with us. We will subtract any surcharge liability from your account, as the law requires us to. The taxable component that you rollover or transfer from an untaxed super source will be taxed at up to 15%. While your money is invested A maximum of up to 15% tax is applied to the investment earnings of your super. Capital gains on some assets within a super fund that are held for at least 12 months are taxed at an effective rate of up to 10%. This tax is deducted before we declare investment returns (that is, unit prices and crediting rates are net of tax). 26

27 When you withdraw money from super No lump sum tax for 60 and over All lump sum and pension benefits received by you from SignatureSuper on or after age 60 are tax-free. Lump sum tax rates for under 60s If you are under age 60, withdraw your money and: don t transfer that money directly to another super fund, then generally you are subject to lump sum tax based on the components of your withdrawal benefit (see table below), or do transfer this money directly to another super fund, an account-based pension, or other product designed to provide you with an income stream, then you will not need to pay any lump sum tax on this transfer. Remember, because super enjoys tax advantages, the law restricts when you can access your super see section on Accessing your super. Component Tax-free component Taxable component taxed element Tax treatment Completely tax-free Under Preservation Age (i) Maximum = 20% (ii) Preservation Age (i) to 59 First $185,000 (iii) = 0% Maximum tax on amounts in excess of $185,000 (iii) = 15% (ii) Age 60 or over completely tax-free (i) For your preservation age (see page 34). (ii) Plus Medicare levy. (iii) For the 2014/2015 financial year. You are only allowed one low rate cap amount regardless of how many funds you are invested in and whether they are taxed or untaxed. The low rate cap amount may be reduced by previous lump sum withdrawals of tax-free amounts. The low rate cap amount is indexed annually in accordance with average weekly ordinary time earnings. This list is not exhaustive. For more details, contact your financial planner or AMP. Super lump sum less than $200 A member who withdraws their entire super as a lump sum will receive it tax-free provided the following criteria are met: you have terminated employment with your SignatureSuper employer and the entire amount of your preserved benefit at the time of termination is less than $200, or you are a lost member who is found and the entire amount of your benefit in the fund when released is less than $200. A lost member is a member who is: uncontactable (ie the fund has never had an address for the member or two written communications have been sent, or, if the trustee so chooses, one written communication has been sent, by the fund to the member s last known address and returned unclaimed; and no contributions or rollovers have been received in respect of the member within the last 12 months of the member s membership of the fund); or inactive (ie where a member joined the fund as an employer-sponsored member, the member has been a member of the fund for longer than two years, and no contributions or rollovers have been received in respect of the member within the last five years of the member s membership of the fund), unless within the last two years of the member s membership, the trustee has verified that the member s address is correct and has no reason to believe that the address is now incorrect or the member is permanently excluded from being a lost member. Lump sum death benefits Generally, lump sum death benefits are tax-free, where the benefit is paid to a dependant under tax law. See definition in Understanding Superannuation Terms. The taxable component of lump sum death benefits paid to a non-dependant under tax law will incur 15% tax (on the taxed element ) plus Medicare levy. Non-dependants of defence and police force personnel killed in the line of duty are defined as tax dependants. Lump sum disability benefits Disablement benefits are subject to tax but usually receive favourable tax treatment if specific requirements are met. Your financial planner can provide more information. Terminal Medical Condition Lump sum benefits received because of a Terminal Medical Condition are totally tax-free as long as the certification requirements are met. See definition under the heading General definitions under the section Understanding superannuation terms. Temporary Salary Continuance benefits These benefits are not pension benefits under tax law. A member who receives a payment under a Temporary Salary Continuance insurance policy has to pay tax on that payment at their personal marginal tax rate, with no offset. Other information Spouse Contributions possible tax benefit You or your Spouse may be able to benefit from a tax offset for making contributions to your Spouse s super or by having them make contributions to your super. Your financial planner can provide you with more details. Contributions Caps and Tax on Excess Contributions Because super benefits you receive from age 60 are taxfree, and employer contributions and member deductible contributions have no limit, there are constraints on the level of contributions made to a super fund for your benefit that receive tax concessions in super funds. These constraints are referred to as Contributions Caps as shown in the table below. 27

28 The Contributions Caps are applied to two types of contributions: Concessional Contributions, and Non-Concessional Contributions. Concessional Contributions are generally those contributions or payments that have received some form of tax concession, such as employer contributions that are deductible to the employer and not included in the assessable salary of the employee. Concessional Contributions include: employer contributions (including salary sacrifice contributions), defined benefit notional contributions, member contributions you claimed as a tax deduction, and certain allocations of surplus. Non-Concessional Contributions are generally after-tax or post-tax contributions or payments and include: Member non-deductible contributions (personal aftertax contributions), Spouse contributions, tax-free part of overseas transfers, and excess Concessional Contributions. There are exclusions from the Contributions Caps, such as: rollovers from taxed super funds, proceeds from certain small business capital gains concessions, collectively capped at $1,355,000 in 2014/2015 (indexed) covering the: small business retirement exemption ($500,000 maximum), and small business 15 year exemption proceeds. proceeds from certain personal injury settlements, and taxable amount of overseas transfers. Type of contribution Concessional Contributions Cap Non-Concessional Contributions Cap (i) Cap (i) Special arrangement or transitional rule $30,000 pa (ii) A $35,000 pa (not indexed) Concessional Contributions cap applies to people aged 50 and over. $180,000 pa (iii) If under age 65, you can bring forward two years of caps. That is, you can make Non-Concessional Contributions of up to $540,000 in one financial year. However, you will not be able to make any further Non-Concessional Contributions for the next two years. (i) This cap is also used to limit the amount of contributions a super fund can accept in some circumstances. (ii) Normally indexed annually in line with average weekly ordinary time earnings in increments of $5,000 (rounded down). (iii) This cap will be calculated as six times the standard Concessional Contributions Cap. Excess Contributions Tax Is a penalty tax applicable when you exceed the nonconcessional contributions cap and concessional contribution cap (applies to excess concessional contributions made before 1 July 2013). Excess concessional contributions tax is abolished for concessional contributions made from 1 July 2013; instead, for the 2013/2014 financial year and onwards, your income will automatically include the amount of any excess concessional contributions made in the year and a new excess concessional contributions interest charge calculated by the ATO will be payable. In addition, you will have the option of withdrawing up to 85% of excess Concessional Contributions from your super. Note: that the excess Concessional Contributions also count towards the Non-Concessional cap. Contributions in excess of the Non-Concessional Caps are taxed at 47% plus Medicare Levy. This is called the excess Non-Concessional Contributions Tax and must be paid from your account balance. Please note that the excess Contributions Tax rates are applied to the gross amount of the contribution or payment and there is no reduction for death and disability premiums, unlike the standard 15% contributions tax allowance on Concessional Contributions. The Government has announced changes to the treatment of excess non-concessional contributions to allow individuals to withdraw excess contributions and associated earnings. The rates above are subject to Federal Budget changes becoming law. Please visit treasury.gov.au for further information. Release Authority from the Australian Taxation Office (ATO) Release Authority for Excess Contribution Tax: If the ATO makes an Excess Non-Concessional Contributions Tax Assessment, a Release Authority (RA) is issued to you. If the assessment and RA is in relation to Excess Concessional Contributions Tax, you may either pay the tax directly within 21 days after the date of the notice of assessment or send the RA to us within 90 days of the date of the RA for AMP to pay the tax liability or pay an amount to you. This RA is referred to as a Voluntary Release Authority (VRA). Note: Excess concessional contributions tax is abolished for contributions made from 1 July See below for comments on refunds of excess concessional contributions. If the RA is in relation to excess Non-Concessional Contributions Tax, you must forward the RA to us within 21 days of notice of the assessment. We must then pay the release amount (see below) from your account. This RA is referred to as a Compulsory Release Authority (CRA). If you do not forward the RA to us within 21 days of receipt of the assessment, the ATO may issue a CRA directly to the trustee. 28

29 The release amount is equal to the lesser of: the amount specified in the RA, the amount requested to be paid by you or the ATO, and the total value of every superannuation interest (other than a defined benefit interest) held on your behalf by the trustee. Note: The fund will not pay the full tax liability if your plan account is less than the liability. Release Authority for refund of excess concessional contributions: Where you make an election to the ATO to release up to 85% of your excess concessional contributions, the ATO will issue a RA directly us. We will pay the amount in the RA directly to the ATO. Where the RA relates to contributions in 2011/2012 and 2012/2013, it is payable within 30 days. Where it relates to 2013/2014 and later years, we must pay the ATO within seven days of receiving the RA. Note: The superfund does not have to pay the RA from a pension account. Release Authority for the additional 15% tax on high income earners If the ATO makes an assessment for the additional 15% tax on you as a high income earner, a Release Authority (RA) is issued to you. The tax will generally be due and payable within 21 days. You may either pay the additional tax personally or send the RA to us within 120 days of the date of the RA for AMP to pay the tax liability from the plan or pay an amount to them. This RA is referred to as a Voluntary Release Authority (VRA). Please note that we cannot pay any amount from a defined benefit interest. If the tax liability is not met from your other non-defined benefit interests or you do not pay direct, then the ATO will establish a debt account and charge interest until paid out. Tax deductions for employers and the self-employed If your employer makes a contribution on your behalf (including salary sacrifice contributions) then, generally, that contribution is fully tax deductible to the employer. You may be eligible to claim a tax deduction for all your member contributions if you re self-employed, or substantially self-employed, or don t receive more than 10% of your income plus reportable employer super contributions plus any reportable fringe benefits from an employer. Different rules apply if you are under 18. Contributions chosen to be excluded from the Non- Concessional Contributions Caps (refer below) by reason of an eligible CGT exemption cannot be claimed as a personal tax deduction. If self-employed, how do you claim a tax deduction for your Member Contributions? To claim a tax deduction for your member contributions you will need to complete a Notice of intent to claim or vary a deduction for personal super contributions form, specifying the amount of contributions that you intend to claim as a tax deduction and return it to AMP on or before the day you lodge your tax or, if earlier, the end of the next financial year. At the end of July each year, we send a Notice of intent to claim or vary a deduction for personal super contributions form to you if you are: A new member who has made member contributions into your SignatureSuper Plan in the previous financial year. An existing member who has made member contributions into your SignatureSuper Plan in the previous financial year and claimed a tax deduction in either of the last two financial years. If you don t receive a form in the mail, you can also call us and ask for a form. To be valid, your Notice of intent to claim or vary a deduction for personal super contributions form must be lodged with us before the earliest of the following dates: the day that you lodged your income tax return for the year(s) for which you are claiming a tax deduction, or the end of the income year after the year for which you are claiming a tax deduction, whichever is the earlier, and the date you ceased to have your contributions in your accumulation account, and the date part or all of your contribution was used to commence a pension. Once we receive a completed Notice of intent to claim or vary a deduction for personal super contributions form, we will send you a super fund acknowledgement. You should keep this for your tax records. Social security Centrelink may count your investment in this financial product under the means test in certain circumstances. As the rules are complex, you should seek the advice of your financial planner or seek information from the Financial Information service provided by Centrelink, or the Veterans Affairs Financial Information service. 29

30 Nominating your beneficiaries If you die while you are a member of SignatureSuper then we will pay a death benefit. Your death benefit is equal to the value of your account balance plus any insured benefit. If you are an Accumulation member, generally your death benefit is a lump sum equal to your account value (subject to any vesting scale) plus any insured death cover. Your Plan Summary will tell you if your benefit is determined in a different way. If you are a Defined Benefit member, pension member or deferred member, part or all of your death benefit may be determined by a formula instead of an account balance. Details are set out in your Plan Summary. If you are age 18 or older, you can nominate one or more beneficiary(ies) to receive your death benefit. Generally, all beneficiaries must be your dependant(s) the definition of dependant is under general definitions in the Understanding Superannuation Terms section. You can also nominate your estate (we call this your legal personal representative ). Under superannuation law, you cannot nominate anyone else as a beneficiary. If you are under age 18, you or your guardian cannot make a Death benefit nomination. Who is a Dependant? A Dependant under superannuation law includes: Your Spouse (including a de facto Spouse whether of the same or opposite sex Spouse) 1, Your Children (including an adopted child, a stepchild, or ex-nuptial child) 2, Any person who is financially dependent on you, and Any person with whom you have an Interdependency Relationship. A person must be a Dependant on the date of your death to be a beneficiary. What is an Interdependency Relationship? Two persons (whether or not related by family) have an Interdependency Relationship if: they have a close personal relationship, and they live together, and one or each of them provides the other with financial support, and one or each of them provides the other with domestic support and personal care. An Interdependency Relationship also includes two persons (whether or not related by family): who have a close personal relationship, and who do not meet the other four criteria listed in the paragraph above because either or both of them suffer from a physical, intellectual or psychiatric disability. Paying your death benefit SignatureSuper may allow you to choose how you would want your death benefit paid. You may have a choice of: Option 1: Binding nomination Option 2: Non-binding (preferred) nomination Option 3: No nomination. They are each discussed below. Before you consider making a nomination, there are a number of factors that you should keep in mind, for example, the type of beneficiary you nominate can have tax implications when they receive your death benefit. For this reason, we strongly recommend that you discuss your nomination with your financial planner. 1. For tax purposes, a former Spouse is also a Dependant. 2. For tax purposes, only a child under 18 years of age is a Dependant unless the child is a financial dependant. 30

31 Option 1 Binding nomination (Your Plan Summary will advise if this option is not available) If you provide us with a binding nomination that satisfies all legal requirements, then we must pay your benefit after your death to the beneficiaries you have nominated and in the proportions you have specified. However, we are not required to pay your death benefit in accordance with your binding nomination if we are aware either: that doing so would breach a court order, or that the giving of, or failure to change, a nomination was a breach of a court order. One of the legal requirements for a binding nomination is that you must sign and date the nomination in the presence of two witnesses over 18 who are not nominated beneficiaries. Accordingly, we will automatically treat your nomination as though it was a non-binding nomination if: your binding nomination does not satisfy this or another legal requirement, or you do not sign or complete the binding nomination correctly (see Option 2 Non-binding nomination). When we receive your binding nomination form (form) we will not check if: the beneficiaries you have nominated are your Dependants or your legal personal representative, or you have signed or completed the form correctly. At the time of a death claim the trustee will assess whether the form was completed correctly, and whether your beneficiaries meet the definition of dependant within the meaning of superannuation law or if your legal personal representative has been appointed. Your binding nomination will normally become invalid as soon as one of the following occurs: Three years have lapsed from the date you signed the Binding Nomination form (you will need to complete a new Binding Nomination form if you want to continue to have a binding nomination). Any nominated beneficiary dies before you die. Any nominated beneficiary (other than the legal personal representative) is not a dependant at the date of your death. You get married or enter into a de facto relationship after signing the Binding Nomination form. You get divorced or your de facto relationship ends after signing the Binding Nomination form. You revoke or amend your binding nomination (if amended, a new binding nomination will have effect). You make a non-binding nomination (as described in Option 2 Non-binding nomination), or You leave SignatureSuper, except if you are continuing in Flexible Lifetime Super (see the section Continuing in Flexible Lifetime Super or such other product advised in your Plan Summary under the main section of Leaving the SignatureSuper Employer Plan). If your binding nomination is no longer valid, then we will automatically treat your binding nomination as a non-binding nomination (see Option 2 Non-binding nomination). It is important that you review your binding nomination regularly and update it: when your personal circumstances change, or if three years pass from the date you made your last binding nomination. You can confirm, cancel or change your binding nomination at any time. You should note that, even if you wish for your last binding nomination to continue, if three years have passed from the date of that nomination, you will need to complete a new binding nomination. If you cancel your binding nomination without making another nomination, then we must pay your death benefit in accordance with Option 3 No nomination. Option 2 Non-binding (or preferred) nomination If you make a non-binding (or preferred) death benefit nomination or your binding nomination becomes a non-binding nomination (as described under Option 1 Binding nomination), then we have absolute discretion to decide which of your dependants and/or legal personal representative will receive your benefit after your death. However, we will take into account your non-binding nomination. When we receive your nomination we will not check if your nominated beneficiaries on the nomination form are your dependants or your legal personal representative. When we receive your non binding (preferred) nomination form (form) we will not check if: the beneficiaries you have nominated are your Dependants or your legal personal representative, or you have signed or completed the form correctly. At the time of a death claim the trustee will assess whether the form was completed correctly, and whether your beneficiaries meet the definition of dependant within the meaning of superannuation law or if your legal personal representative has been appointed. You should check if you have signed or completed the nomination form correctly. A non-binding nomination will continue to apply until you cancel an existing nomination or make a new one. Therefore, it is important that you keep your non-binding nomination up-to-date in line with your personal circumstances. You can cancel your non-binding nomination or make a new one at any time. If you cancel your non-binding nomination without making another nomination, then we will pay your death benefit in accordance with Option 3 No nomination. Even if you have a non-binding nomination, you should consider making a Will, or altering your Will. 31

32 Option 3 No nomination If you don t make a nomination, or you cancel your existing nomination and do not make a new nomination, then we must pay your death benefit to your estate unless your Plan Summary states otherwise. If your estate is insolvent or if a legal personal representative has not been appointed to manage your estate within a reasonable period of time, then we will decide: if you have dependants, which of your dependants will receive your death benefit (and in what proportions), or if you have no dependants, which other persons will receive your death benefit and in what proportions. This means that if you do not have either a binding or nonbinding nomination, you should consider making a Will or altering your Will. Nominations upon transfer into SignatureSuper Your Plan Summary will provide details of nominations in place at the time of transfer into SignatureSuper. When and how we pay your Death benefit When you die, your accumulation account balance at the date an AMP processing centre receives notification of your death will be transferred to the AMP Cash Plus investment option. This protects the value of the benefit. Any investment earnings between the date we are notified of your death and the day we pay the benefit will be added. This may be different if you are a Defined Benefit member. Please see your Plan Summary for more information. Your dependant(s) may receive your Death benefit as a lump sum payment or, depending on the amount, as an account-based pension, or a combination of both. For a child to commence an account-based pension with your death benefit, the child must be under 18, or under 25 but still financially dependent, or have an eligible permanent disability. Legislation may restrict who can receive a Death benefit as an income stream. Death benefits paid to a child as a pension must be converted and then paid as a lump sum when the child turns 25 and the pension ceases when we pay the lump sum. The lump sum paid at age 25 is non-assessable and tax-free. If the child has a permanent disability, the pension does not have to be paid as a lump sum and therefore can continue. Your legal personal representative/estate, or a person who is not considered your dependant, can only receive your death benefit as a lump sum. Extra amount for some death benefit payments anti-detriment payments Tax laws allow us to pay an extra amount if we pay your death benefit directly to your dependant(s) (or indirectly to them via your legal personal representative/estate). However, the definition of dependants used for this purpose includes children of any age, Spouse or former Spouse but does not include those with whom you have an interdependency relationship or financial dependants other than those specified in the definition. Therefore, it differs from the one defined in Understanding superannuation terms. Contact your financial planner if you need more details about this. How to advise us of your nomination You can nominate, cancel or change your nominated beneficiary(ies) at any time by completing the nomination form by visiting amp.com.au/signaturesuper/forms or available by calling AMP Corporate Super Customer Service. It is very important that you keep your nomination up-to-date in line with your personal circumstances. Your Member Statement provides details of any nominations you have made. 32

33 Accessing your super When you can access your super Super benefits consist of three components: Unrestricted non-preserved: You can access this amount at any time. Restricted non-preserved: Generally you can access this amount when you stop working for the employer who has contributed to your account, and Preserved: You can access this amount only in certain circumstances set by superannuation law. (All contributions and investment earnings since 1 July 1999 are preserved. Any non-preserved amounts you have accumulated before this date remain as non-preserved.) Conditions of release Generally, the circumstances in which you can access your preserved super include: you are permanently retiring after reaching your Preservation Age (see page 34 for your Preservation Age), or you stop employment at age 60 or over, or you reach age 65, or you have a Terminal Medical Condition, or you become permanently incapacitated, or you qualify on compassionate grounds or severe financial hardship, or you are the holder of an expired or cancelled temporary resident visa 1 and you have permanently departed Australia (this option is not available to holders of subclasses 405 and 410 visas, Australian or New Zealand citizens, or Australian permanent residents), or you reach Preservation Age, but you do not retire or stop working and you commence a Transition to Retirement income stream 2, or you stop working for the employer who has contributed to your account and purchase a non-commutable life pension or annuity, or your employment with an employer-sponsor has been terminated, and the value of your preserved benefits in that fund is less than $200. You may need to meet additional identification requirements prior to accessing your super. See the Important information section of the Member Guide Fact Sheet for more details. Notes: 1. Super funds are, under certain circumstances, required to transfer a temporary resident s super to the ATO following their departure from Australia. Such a transfer would only occur when at least six months have passed since the temporary resident s visa had ceased to be in effect, they had left Australia and not taken their benefit. Temporary residents can subsequently access their benefit from the ATO. The ATO can be called on There are limited conditions of release available to a member who is or was a temporary resident. Accounts in respect of all temporary resident members (irrespective of whether or not they have left Australia) will only be able to be released under the following conditions: Death Terminal Medical Condition Permanent incapacity Super Payment to a temporary resident leaving Australia permanently and who apply in writing for the release of their benefits Trustee payments to the ATO under the Superannuation (Unclaimed Money and Lost Members) Act 1999 Temporary incapacity Release Authorities under the Income Tax Assessment Act 1997 If you met a condition of release allowed under a superannuation law before 1 April Note: Where a member is or was a temporary resident, they will generally not be able to access their benefit under the following conditions of release: on retirement on attaining age 65. Relying on relief provided by the Australian Securities and Investments Commission (ASIC), the trustee is not obliged to notify or give an exit statement to a member who was a temporary resident where we transfer their super to the ATO following their departure from Australia. 2. A Transition to Retirement income stream is an annuity or pension that you cannot cash in. However, you may be able to cash income streams that you purchased for nearing retirement purposes, once you meet another condition of release such as permanent retirement. 33

34 Permanent retirement after reaching your Preservation Age You are permanently retired if you have reached your preservation age, stopped employment and if you are under age 60, we are reasonably satisfied that you have no intention of returning to work for 10 or more hours a week. Your Preservation Age depends on when you were born and is shown in the following table: Date of birth Preservation Age Before 01/07/ /07/1960 to 30/06/ /07/1961 to 30/06/ /07/1962 to 30/06/ /07/1963 to 30/06/ /07/1964 and after 60 Transfers (partial or full) You have the right to transfer your existing accumulation account balance (partial or full) to another super fund at any time. This is known as portability. We are generally required to transfer your benefits within three business days of the date we receive all information required to process your request. Contact us to obtain a SignatureSuper Withdrawal form which should be fully completed. We can refuse your transfer request if you request to transfer any Defined Benefit portion of your account. Where your insurance benefit design is linked to your account balance (refer to your Member Statements) and you make a partial transfer, this may increase your insurance cover. However, your insurance cover will be capped at the sum insured value as at the last annual review date. If you would like to apply to increase your insurance cover refer to the section on Additional insurance cover of the Insurance Guide. Where you choose to make a transfer of your whole account balance, your insurance cover will generally cease on the date of your transfer, unless otherwise stated (see your Plan Summary). Before making a choice to transfer your benefits, we suggest that you seek professional financial advice. Permanent incapacity, Terminal Medical Condition, compassionate grounds and severe financial hardship You can access your super benefits at any age in certain circumstances for example, if you have a Terminal Medical Condition (see heading General definitions under the Understanding Superannuation Terms section), retirement due to permanent incapacity, severe financial hardship or compassionate grounds. There are specific conditions for the release of benefits on compassionate grounds and release is subject to approval by the Department of Human Services and the trustee. A member is permanently incapacitated if the trustee is reasonably satisfied that the member s ill health (whether physical or mental) makes it unlikely that the member will engage in gainful employment for which the member is reasonably qualified by education, training or experience. See the Terminal Medical Condition and Lump sum disability benefits headings in the Tax and social security section for the taxation treatment of these benefits. Transition to Retirement income stream Transition to Retirement As you head towards retirement, you may consider whether a Transition to Retirement approach suits your lifestyle needs. If you have reached your Preservation Age and are still working, you can access your benefits (including preserved and restricted non-preserved components) to purchase a non-commutable income stream. An example of a noncommutable income stream is an account-based pension which does not generally permit withdrawal until actual retirement or once you are 65 years of age. This option is not available to a member classified as a temporary resident. Retiring When you can access your super, you have the option to turn your super into a regular income for example, through an account-based pension. Information Further information on Transition to Retirement and retirement strategies and conditions can be obtained through your financial planner. 34

35 When you must take your super benefit Superannuation rules do not require you to take your benefits at any maximum age. You may keep your investment in your super account indefinitely. However, your benefits must be paid out on death. Cooling-off a SignatureSuper employer s rights We want this Plan to meet your needs. However if a SignatureSuper employer no longer wants the Plan, the SignatureSuper employer can return it (that is, cease participation) by contacting us (see contact details on back cover). The SignatureSuper employer has a limited time to do this, being 14 days starting on the earlier of: the date the SignatureSuper employer received the letter from us welcoming them to the Plan, or five Business Days after the date of the letter welcoming the SignatureSuper employer to the Plan. However, the Plan cannot be returned if the SignatureSuper employer has exercised rights or powers under the terms of the Plan. The amount we refund will be the original amount invested less any tax and reasonable administration costs incurred by the trustee relating to the establishment of and termination of the Plan (if any). We will also adjust the amount we refund to allow for the unit price of the market linked investment options relevant to your SignatureSuper account and earnings (whether positive or negative). We will also deduct and/or charge any tax payable on the amounts invested plus any No-TFN tax that may arise. The amount we refund can be more or less than the original amount invested in the Plan. As this is a super plan we can return rollovers in cash only if they represent the unrestricted non-preserved portion of a member s benefit. All other money must be paid to another complying super fund. We can only pay any SignatureSuper employer payments the SignatureSuper employer has made (including salary sacrifice and Super Guarantee contributions) to another complying super fund. The SignatureSuper employer must give us the details of this fund by contacting us (see contact details on back cover) within one month from when the SignatureSuper employer told us they wanted to return this Plan. If an employee member has transferred money or made any payments to their individual account within the Plan, we will also transfer these amounts to another complying super fund. The employee member must give us the details of this fund. Note: No cooling-off rights apply to employee members of SignatureSuper. Cooling-off a Family/Spouse member s rights This section only applies to Family/Spouse members who joined the SignatureSuper Plan. We want this SignatureSuper account to meet your needs. But if you no longer want it, you can return it by contacting us (contact details are on the back cover). You have a limited time to do this, being 14 days starting the earlier of: the date you received your Welcome Letter, or five Business Days after the date of your Welcome Letter. However, you cannot return your account in the SignatureSuper Plan if you have exercised any rights or powers available under the terms of the Plan. The amount we refund will be the original amount invested less any tax and reasonable administration costs incurred by the trustee relating to the establishment of and termination of your account in the SignatureSuper Plan. We will also adjust the amount we refund to allow for the unit price of any market linked investment options relevant to your account in the SignatureSuper Plan. We will also deduct and/or charge any tax payable on the amounts invested plus No-TFN tax that may arise. Therefore, the amount we refund can be more or less than the original amount invested in the account in the SignatureSuper Plan. We can only pay unrestricted non-preserved amounts direct to you. All other amounts must be paid to another complying super fund. You must give us the details of this fund within one month from when you tell us you want to return the account in the SignatureSuper Plan. 35

36 Leaving the SignatureSuper Employer Plan Leaving the SignatureSuper Plan Unless otherwise set out in your Plan Summary, Employee and Family/Spouse members must leave the SignatureSuper Employer Plan: if the member is an Employee member, when they retire or when we are advised by the SignatureSuper employer that they have ceased employment, or if the member is a Family/Spouse member, when the Employee member in relation to whom the Family/ Spouse member has a Family/Spouse relationship leaves the Plan, or if the member is a Family/Spouse member, when they are no longer in a Family/Spouse relationship with the Employee member, or when the employee or the Family/Spouse member s account becomes Dormant (see the heading Dormant accounts transfer to a personal account under the section Making contributions). The Employee member or the Family/Spouse member must inform us if the Family/Spouse member is no longer in a Family/Spouse relationship with the Employee member. If your plan has a tailored MySuper arrangement, the arrangements described below may not apply to you refer to your Plan Summary to confirm what applies to you. Continuing in an AMP personal account or super arrangement Employee and Family/Spouse members When you leave the SignatureSuper Employer Plan, we provide you with a simple solution for the transfer of your SignatureSuper account. This means that you will not have to search for a new super account, as we will handle this for you (unless you advise otherwise). Your super will normally automatically continue in a personal account as agreed with your SignatureSuper employer. Details are described in your Plan Summary. Continuing your super in an AMP super arrangement allows you to enjoy the benefits of account features that you are used to in SignatureSuper. Your new employer can also contribute to your AMP super arrangement. We do not charge a fee when you leave SignatureSuper, but there will be some differences in your new super arrangement because you are no longer part of the SignatureSuper Employer Plan. For example, personal insurance premiums are different to group insurance premiums arranged through SignatureSuper Employer Plan. A summary of these differences is outlined below. The payment process Employee members It is usual practice for SignatureSuper employers to advise us when an Employee member ceases employment or a non executive director ceases to qualify as a member, and to pay final contributions in the month after you finish work. If the SignatureSuper employer pays an Employee member s fees and/or insurance premiums, this will stop at the date you leave employment. With your automatic transfer to a new super arrangement, any further fees or insurance premiums (if applicable) will be deducted from your new super arrangement. A vesting scale may be applied to additional discretionary contributions that an Employee member s SignatureSuper employer makes. Refer to your Plan Summary to check whether a vesting scale applies to your account. If a vesting scale does apply, your Member Statement will show your Withdrawal Benefit after the effect of the vesting scale. Employee and Family/Spouse members Your account balance will remain invested in SignatureSuper until the date we transfer it into your new super arrangement. Personal accounts When the Employee member leaves their Employer When we are advised that the Employee member has left the SignatureSuper Employer s employment, we will automatically transfer the Employee member and their Family/Spouse members accounts into: A Flexible Lifetime Super plan or SignatureSuper Personal plan (see your Plan Summary for more detail) with continuation of insurance: if your account balance is $1,000 (at the date your exit is processed) or more, and your SignatureSuper Plan s insurance cover was with AMP Life, and we have your current postal address, and you do not have a Terminal Illness and are not Totally and Permanently Disabled, and 36

37 for the continuation of TPD cover and TSC/TTD cover, you are under age 60, and for the continuation of Death cover (for Family/ Spouse members only), you are under age 70, unless you advise otherwise, OR A Flexible Lifetime Super plan or SignatureSuper Personal plan (see your Plan Summary for more details) with no continuation of insurance: your account balance is less than $1,000 (at the date your exit is processed), or your SignatureSuper Employer Plan s insurance cover was not with AMP Life, or if we don t have your postal address, or you have a Terminal Illness or are Totally and Permanently Disabled, or for the continuation of TPD cover and TSC/TTD cover, you are age 60 or over, or for the continuation of Death cover (for Family/ Spouse members only), you are age 70 or over, unless you advise otherwise. Your personal account may be in either Flexible Lifetime Super or SignatureSuper Personal, depending on the commencement date of your SignatureSuper Employer Plan. See Leaving the Plan in your Plan Summary for details of where your account will be transferred to in these circumstances. Employee and Family/Spouse members account balances will be transferred to a personal plan, effective as at the processing date. Your insurance cover in the SignatureSuper Employer Plan generally ceases on the day the Employee member ceases employment. Your cover may continue automatically in Flexible Lifetime Super or SignatureSuper Personal from that date in accordance with the above rules. If your cover does not continue in a personal plan, you should consider taking out cover suitable to your circumstances. For Death cover, if you are not yet age 60, and for TPD Cover, if you are not yet age 55, your Insurer may provide a Continuation Option within Flexible Lifetime Super (see Continuation Option sections in your Plan Summary). You have 60 days from the date you cease employment, or within 60 days of transferring to the Personal plan (whichever is later), to contact the Insurer and apply for a Continuation Option. Any special terms, loadings or exclusions that apply to your SignatureSuper Employer Plan cover will also apply to any cover under your Continuation Option. Any such cover will be subject to acceptance of your application by the Insurer. When you leave the SignatureSuper Employer Plan, you are responsible for redirecting any contributions you may have been receiving from another employer to your new super arrangement with AMP (or other super provider if applicable). When the Family/Spouse relationship ceases When we are advised that you are no longer in a Family/ Spouse relationship with an Employee member, we will automatically transfer your Family/Spouse member account into: A Flexible Lifetime Super plan or SignatureSuper Personal plan with continuation of insurance: if your account balance is $1,000 (at the date your exit is processed) or more, and your SignatureSuper Employer Plan s insurance cover was with AMP Life, and we have your current postal address, and you do not have a Terminal Illness and are not Totally and Permanently Disabled, and for the continuation of TPD cover, you are under age 60, and for the continuation of Death cover, you are under age 70, unless you advise otherwise, OR A Flexible Lifetime Super plan or SignatureSuper Personal plan, with no continuation of insurance: your account balance is less than $1,000 (at the date your exit is processed), and your SignatureSuper Employer Plan s insurance cover was not with AMP Life, or if we don t have your postal address, or you have a Terminal Illness or are Totally and Permanently Disabled, or for the continuation of TPD cover, you are age 60 or over, or for the continuation of Death cover, you are age 70 or over, unless you advise otherwise. Your account balance will be transferred, effective as at the processing date. Your insurance cover in the SignatureSuper Employer Plan generally ceases on the day AMP is notified that your Family relationship with the employee member has ceased. Your cover may continue automatically in Flexible Lifetime Super or SignatureSuper Personal from that date in accordance with the above rules. If your cover does not continue in a personal plan, you should consider taking out cover suitable to your circumstances. When you leave SignatureSuper Employer Plan, you are responsible for redirecting any contributions you may have been receiving from another employer to your new super arrangement with AMP (or other super provider if applicable). Dormant accounts When your account becomes dormant, we will automatically transfer your account into Flexible Lifetime Super or SignatureSuper Personal (see your Plan Summary for more details), with no continuation of insurance. 37

38 Your insurance cover (if any) in the SignatureSuper Employer Plan generally ceases on the day we transfer your account balance to Flexible Lifetime Super or SignatureSuper Personal. You should consider taking out cover suitable to your circumstances. For Death cover, if you are not yet age 60 and for TPD Cover if you are not yet age 55, your Insurer may provide a Continuation Option (see Continuation Option section in your Plan Summary). You have 60 days from the date you cease employment, or within 60 days of transferring to the Personal plan (whichever is the later), to contact the Insurer and apply for a Continuation Option. Any such cover will be subject to acceptance of your application by the Insurer. Continuing in Flexible Lifetime Super (For SignatureSuper employer Plans that commenced prior to 1 August 2010 refer to your Plan Summary to confirm if this applies to you.) Membership Flexible Lifetime Super is part of the AMP Superannuation Savings Trust (the fund). When your Flexible Lifetime Super plan starts, you will become a member of Flexible Lifetime Super. We will write to you to confirm the details of your new plan that has automatically continued in Flexible Lifetime Super. Flexible Lifetime Super is issued by ASL, as the trustee of the fund. You should consider the Product Disclosure Statement for Flexible Lifetime Super, available at amp.com.au/flexiblelifetimesuper, in deciding whether to acquire or continue to hold the product. Investment options To the extent your account balance in your SignatureSuper Employer Plan was invested in the AMP MySuper investment option, it will remain invested in that investment option. Where possible, your investment choice for your existing account balance in SignatureSuper and any future contributions continue in Flexible Lifetime Super. If you have money in (or future contributions allocated to) a SignatureSuper investment option that is not available in Flexible Lifetime Super, that investment option will be replaced with a similar investment option. The SignatureSuper options where this applies, and the corresponding Flexible Lifetime Super options are: SignatureSuper option SignatureSuper LifeStages Conservative Index Balanced Index Flexible Lifetime Super option Future Directions LifeStages Conservative Index Balanced Index The Flexible Lifetime Super investment options may have higher investment option fees. Fees and costs To the extent your account balance in your SignatureSuper Employer Plan was invested in the AMP MySuper investment option, fees and costs for the MySuper option will not change (except that any MySuper Large Plan Discount will cease to apply). To the extent your account balance was invested in one or more choice investment options, fees and costs may change and you will be informed upon transfer. Further, any Large Plan Discounts will normally cease to apply, although you may be entitled to fee discounts as a member of Flexible Lifetime Super. If you are an Employee member whose employer was paying any of your fees, this will no longer apply. For more information, please see the latest version of the Flexible Lifetime Super Product Disclosure Statement and Fact Sheets, which can be found at amp.com.au/flexiblelifetimesuper. Death benefit nomination Your binding or non-binding death benefit nomination will continue in Flexible Lifetime Super, unless you advise otherwise. Insurance cover As a Flexible Lifetime Super member, you may be eligible to apply for insurance cover with AMP Life. You will be advised when you receive notice of joining the Plan. Death (if with AMP Life in SignatureSuper) in Flexible Lifetime Super If cover continues in Flexible Lifetime Super, your Death cover (if any) will continue in Flexible Lifetime Super in the circumstances described above. The cover will convert to a dollar amount equal to the amount of cover you had with SignatureSuper on the day AMP was advised that you were leaving the Plan. TPD and TSC/TTD (if with AMP Life in SignatureSuper) in Flexible Lifetime Super If cover continues in Flexible Lifetime Super and you are an employee member and, at the date you left your SignatureSuper employer, you are not yet age 60, your TPD and TSC/TTD cover (if any) will continue in Flexible Lifetime Super in certain circumstances. The cover will convert to a dollar amount equal to the amount of cover you had with SignatureSuper on the day AMP was advised that you were leaving the Plan. If cover continues in Flexible Lifetime Super and you are a Family/Spouse member at the date the Employee member left employment or at the date you ceased to be in a Family/Spouse relationship with the Employee member and, you are not yet aged 70 for Death and age 60 for TPD (if any), your cover will continue at the same amount you had with SignatureSuper. 38

39 Other insurance information If insurance is not automatically continued, you may apply for a Continuation Option for Death cover if you are not yet age 60 and TPD Cover if you are not yet age 55. Any other additional insurance cover that you have will cease. The cost of any insurance cover continued under your Flexible Lifetime Super plan will be higher (in some cases considerably higher) than that which applied to your cover under SignatureSuper. These premiums are charged from the date of your Flexible Lifetime Super plan. All premiums payable once you are a member of Flexible Lifetime Super will be deducted from your personal plan effective from the start date of the Plan. Note: If you are an Employee member whose SignatureSuper employer paid any insurance premiums on your behalf, this will no longer apply when you leave your SignatureSuper employer. Any future premiums will be deducted from your account. Free cover period (if with AMP Life in SignatureSuper) (Employee members only) If no AMP Life insurance cover is automatically continued to Flexible Lifetime Super, we will provide you with 60 days free cover for death and accidental TPD after you cease employment, at the same level of cover you had under SignatureSuper, if you have not made an insurance claim and you are not yet age 60. Claims under Flexible Lifetime Super If you become disabled while you are a member of Flexible Lifetime Super and you are not working at the time, you may not be able to claim under your TSC/TTD cover. If you claim a TPD benefit, AMP Life will assess your claim and consider your disablement compared to your working status at the time you become disabled. Where a claim for TPD or TSC/TTD arises, AMP Life will assess your claim under the insurance cover in place at the time the illness or injury commenced: If disablement results from an illness or injury that commenced before the date you transferred to Flexible Lifetime Super your claim will be assessed against your insurance in the SignatureSuper employer Plan. If disablement results from an illness or injury that commenced after the date you transferred to Flexible Lifetime Super your claim will be assessed against your insurance in Flexible Lifetime Super. AMP Life will not pay the TPD benefit under Flexible Lifetime Super when disablement results from an illness or injury that commenced before the date you left SignatureSuper. As a member under Flexible Lifetime Super, AMP Life will not pay for any condition that relates to the illness or injury that caused you to become Totally and Permanently Disabled that occurs before the date the employee member left the SignatureSuper employer. Also, if your insurance cover automatically continues from SignatureSuper to Flexible Lifetime Super, we will not pay the TSC/TTD benefit when disablement results from an illness or injury that commenced before the date you left your employer and for which you have been paid a TPD benefit from SignatureSuper. Continuing in SignatureSuper Personal (For SignatureSuper Employer Plans that commenced on or after 1 August Please refer to the Transfer Date in your Plan Summary for the date that your employer s Plan started) Membership SignatureSuper Personal is part of the AMP Superannuation Savings Trust (the fund). We will write to you to confirm the details of your new plan that has automatically continued in SignatureSuper Personal. SignatureSuper Personal is issued by ASL, as the trustee of the fund. You should consider the Product Disclosure Statement and Fact Sheets for SignatureSuper Personal, available at amp.com.au/signaturesuper/pds, in deciding whether to acquire or continue to hold the product. Investment options To the extent your account balance in your SignatureSuper Employer Plan was invested in the AMP MySuper investment option, it will remain invested in that investment option. Where possible, your investment choice for your existing account balance in SignatureSuper and your future contributions continue in SignatureSuper Personal. If you have money in (or future contributions allocated to) a SignatureSuper investment option that is not available in SignatureSuper Personal, that investment option will be replaced with a similar investment option. Fees and costs To the extent your account balance in your SignatureSuper Employer Plan was invested in the AMP MySuper investment option, fees and costs for the MySuper option will not change (except that any MySuper Large Plan Discount will cease to apply). To the extent your account balance was invested in one or more choice investment options, fees and costs may change and you will be informed upon transfer. Further, any Large Plan Discounts will normally cease to apply, although you may be entitled to fee discounts as a member of SignatureSuper Personal. If you are an Employee member whose employer was paying any of your fees, this will no longer apply. For more information, please see the latest version of the SignatureSuper Personal Product Disclosure Statement and Fact Sheets, which can be found at amp.com.au/signaturesuper/pds. 39

40 Death benefit nomination Your binding or non-binding death benefit nomination will continue in your personal plan, unless you advise otherwise. Insurance cover Where your account is transferred to SignatureSuper Personal plan (in circumstances outlined above), your insurance cover will cease with no continuation option. You should consider taking out cover suitable to your circumstances. You may apply for our standard insurance offer in the SignatureSuper Personal Plan by calling us for a SignatureSuper Product Disclosure Statement and completing the SignatureSuper Personal Short Form Personal Statement. As a SignatureSuper Personal member, you may be eligible to apply for insurance cover with AMP Life. You will be advised when you receive notice of joining the Plan. Death (if with AMP Life in SignatureSuper) If cover continues in SignatureSuper Personal, your Death cover (if any) will continue in SignatureSuper Personal in the circumstances described above. The cover will convert to a dollar amount equal to the amount of cover you had in your SignatureSuper Employer Plan on the day AMP was advised that you were leaving the Employer Plan. TPD and TSC (if with AMP Life in SignatureSuper) If cover continues in SignatureSuper Personal and you are an employee member and, at the date you left your SignatureSuper employer, you are not yet age 60, your TPD and TSC cover (if any) will continue in SignatureSuper Personal in certain circumstances. The cover will convert to a dollar amount equal to the amount of cover you had in your SignatureSuper Employer Plan on the day AMP was advised that you were leaving the Employer Plan. If cover continues in SignatureSuper Personal and you are a Family/Spouse member and, at the date the Employee member left employment or at the day you ceased to be in a Family/Spouse relationship with the Employee member, you are not yet aged 70 for Death and age 60 for TPD (if any), your cover will continue at the same amount you had with SignatureSuper. Other insurance information The cost of any insurance cover continued under SignatureSuper Personal plan may be higher than that which applied to your cover under SignatureSuper Employer Plan. The premiums are charged from the date of your SignatureSuper Personal Plan. All premiums payable once you are a member of SignatureSuper Personal will be deducted from your personal plan effective from the start date of the Personal Plan. Note: If you are an Employee member whose SignatureSuper employer paid any insurance premiums on your behalf, this will no longer apply when you leave your SignatureSuper employer. Any future premiums will be deducted from your account. Other claims information If you have made or intend to make a claim in relation to the cover you had in the SignatureSuper Employer Plan, you will be assessed against the terms and conditions of your SignatureSuper Employer Plan. Your personal plan will remain open while the insurer considers the claim, and insurance premiums (if any) will continue to be deducted from your personal plan. If you claim under your SignatureSuper Employer Plan and the insurer accepts your claim and pays you a benefit, your insurance cover in your personal plan will be cancelled (except where the claim is for TSC), and all insurance premiums that were charged in your personal plan will be refunded. Closing your SignatureSuper account whilst still an employee (Employee members only) If you choose to withdraw your full account balance and close your SignatureSuper account but do not leave the employment of your SignatureSuper employer, generally all your insurance cover will cease. This means that insurance cover will generally not be provided after the date you leave the SignatureSuper Plan. You should talk to your financial planner before making decisions that could affect your insurance cover. See Transfers (full or partial) in Accessing your super. Please also see Reinstating cover in your Insurance Guide Fact Sheet or contact us (see contact details on the back cover). When your SignatureSuper Employer Plan is terminated Where a SignatureSuper employer initiates a transfer of funds from SignatureSuper (as distinct from an employee or Family/Spouse member withdrawal), the following special conditions may apply when we calculate and pay your account balance: we will require at least one month s notice in writing, and we may pay your account balance in three equal monthly payments over a three month period at the Release Price applying to your unit holding at the date of payment (see Release Price in Fees and Costs section). 40

41 Important information The trustee SignatureSuper is part of the AMP Superannuation Savings Trust (the fund). AMP Superannuation Limited is the trustee of the fund and is a wholly owned subsidiary of AMP Life. The trustee: is responsible for all aspects of the operation of your account, is responsible for ensuring that the fund is properly, administered in accordance with the trust deed and policy documents, and is responsible for ensuring that the fund complies with relevant legislation that all members benefits are calculated correctly, and that members are kept informed of the operations of the fund. The trustee has indemnity insurance. What is the legal structure of SignatureSuper? The trust deed The trust deed established the fund. It also contains: your rights and obligations relating to SignatureSuper, and our rights and obligations as the trustee for example, the right to charge fees, the right to be indemnified, the right to terminate the trust and the limits on our liability. The rights and obligations of a trustee, are also governed by law, affecting super and general trust law. We can amend the trust deed but only with the consent of AMP Life. We may amend the trust deed following changes to the law or to introduce new features. In the event of any inconsistency between the trust deed and the PDS, Fact Sheets and your Plan Summary, the terms of the trust deed will prevail. You can ring us to request a copy of the trust deed using the contact details on the back cover of this document. Superannuation policies We invest all the assets of the fund in group superannuation policies held with AMP Life. By investing in a specific investment option, you do not receive any entitlement to the assets underlying that investment option. Administration services and insurance cover are also provided under the relevant policies. Under the policies, AMP Life can change the fees, the insurance arrangements and the investment options with agreement from the trustees. If any dispute arises about your benefits in, or any other aspect of SignatureSuper (or in the event of any inconsistency between the trust deed, policy document, and the terms of the PDS, Fact Sheets and Plan Summary), then the trust deed and the relevant policy document will prevail. You can contact us to request a copy of the trust deed or relevant policy document. The trust deed is also available online at amp.com.au/trusteedetails. The relationship between us and service providers From time to time, we may engage companies in and outside the AMP group to provide services in relation to SignatureSuper. We may change these service providers at any time without notifying you. The companies in the AMP group we use are AMP Life, AMP Capital, AMP Direct and AMP Bank. AMP Life, AMP Capital, AMP Direct and AMP Bank have given and not withdrawn their consent to the statements in relation to themselves (including their names) being included in the PDS and the Fact Sheets in the form and context in which they appear. These and other companies in the AMP group may receive information about you. Please refer to the section on AMP and your privacy. AMP Life The life policies we currently hold with AMP Life are issued to us by AMP Life from its No.1 and No.2 statutory funds. Under these policies, AMP Life administers SignatureSuper, provides insurance for certain Plans and invests contributions received from SignatureSuper with AMP Capital, AMP Bank, or in managed investment schemes outside the AMP group. 41

42 AMP Capital AMP Capital is the investment manager appointed by AMP Life under an investment management agreement with AMP Life and is a subsidiary of AMP Limited, and therefore, is a company related to us. AMP Bank AMP Bank is a direct banking business that manufactures, distributes and services lending products and deposit accounts both to retail and wholesale customers. AMP Direct AMP Direct is a dynamic and growing business that will work with you to identify your advice needs and that services that are appropriate to help you meet your financial goals AMP Life, AMP Capital, AMP Direct and AMP Bank are subsidiaries of AMP Limited, and therefore, are companies related to us. Award Modernisation Important information for Employers in respect of Award covered employees As well as dealing with wages and work conditions, most Modern Awards specify the super funds to which an employer can make its Superannuation Guarantee contributions and any additional post-tax employee contributions for an employee where an employee has not exercised Choice of Fund (ie the employer s default fund ). If an Employer is considering using this fund as its default fund (ie the fund to which the Employer will contribute unless the employee exercises Choice of Fund), the Employer should consider obtaining legal advice on the application of any awards or agreements and whether they preclude it from using this fund as its default fund. The AMP group, including AMP Superannuation Limited, does not warrant and takes no responsibility for the appropriateness of its fund in meeting an Employer s obligations under the Modern Awards or other industrial awards, agreements or arrangements. The Fair Work Act 2009 imposes penalties on Employers for each breach of a Modern Award. Industrial Awards/ Workplace Agreements Some industrial awards and workplace agreements require employers to make contributions to specific superannuation funds. Also, some awards and agreements specify insurance arrangements. A financial planner can help provide details on this. You should check your obligations before making contributions. Family law and your super If you separate or divorce from your Spouse, then your interest in your super may be split. Currently, in all States and Territories (apart from Western Australia), an interest in a super account may also be split if a de facto relationship (including a same sex relationship) breaks down. Your account can also be flagged as part of a separation or divorce this prevents us from making most types of payments. The law sets down how super interests will be valued and split for these purposes. Splitting or flagging can be achieved by agreement between the separating or divorcing couple or by a court order. If your SignatureSuper account is split, then your Spouse will not automatically have a SignatureSuper account of their own. Your Spouse can apply to have a personal super account with AMP, transfer the benefit to another super fund or take the benefit in cash if they satisfy a condition of release. If your interest is split, then your Spouse s interest may be transferred to the AMP Eligible Rollover Fund. Because the laws regarding splitting your account on separation are complex, we recommend that you seek legal advice. Policy committee A SignatureSuper account may have a policy committee. The role of the policy committee is to help a member (or the SignatureSuper employer) enquire about the investment strategy, performance and operation of their SignatureSuper account. The policy committee may also assist the trustee to obtain the views of members on these issues and in dealing with any enquiry or complaint. We are required to take all reasonable steps to set up a policy committee where: an employer has 50 or more employee members, or an employer has at least five but less than 50 employee members and the trustee has received a written request to do so on behalf of at least five of those employee members. There must be equal numbers of SignatureSuper employer and member representatives on the policy committee. Employer representatives are appointed or removed by the SignatureSuper employer for the Plan. Employer representatives can also be removed as a result of specific events under superannuation law. Member representatives of SignatureSuper policy committees are generally elected by members for a fixed term. Member representatives can only be removed from office by the same procedure as that by which they were appointed except when they are removed as a result of specific events under superannuation law (including expiry of their term). Details of the policy committee arrangements (if any) for the Plan are shown on your Member Statement. For more details of the policy committee arrangements (if any) for the Plan, including obtaining a free copy of the election rules or our guide How to set up a Policy Committee, please contact us. 42

43 Collection of Tax File Numbers We are required to tell you the following details before you provide your Tax File Number (TFN) for your super products. Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The trustee of your superannuation fund may disclose your TFN to another super provider when your benefits are being transferred, unless you request the trustee of your superannuation fund in writing that your TFN not be disclosed to any other super provider. It is not an offence not to quote your TFN. However, giving your TFN to your superannuation fund will have the following advantages (which may not otherwise apply): Your superannuation fund will be able to accept all types of contributions to your account(s). The tax on contributions to your super account/s will not increase. Other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your super benefits, and It will make it much easier to trace different super accounts in your name so that you receive all your super benefits when you retire. If you do not provide your TFN you may also be subject to additional tax. Speak to your financial planner for more information. Additional identification requirements To protect your money and to comply with legislative requirements (such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006) we will need on occasion to verify your identity. This means that we may need to obtain identification information when you make a withdrawal from your account, when we change your account details or when undertaking transactions in relation to your plan. For more information about when you can access your super please refer to the section Accessing your super. We will need to identify: A member prior to allowing the member to access their super (full or partial withdrawal). We will only process the withdrawal once all relevant information has been received and your identity has been verified. A member and their self-managed super fund (SMSF) prior to processing a rollover to the SMSF. We will only process the rollover once all relevant information has been received and your identity and that of the SMSF has been verified. Your estate and/or your dependants if you die while you are a member. We will have to verify the identity of any person(s), including your estate, prior to the payment of any death benefit. Anyone acting on your behalf, including your nominated representative. If you nominate a representative, we will identify the nominated representative before adding them as a signatory to your plan. You also acknowledge that we may decide to delay or refuse any request or transaction, including by suspending a withdrawal application, if we are concerned that the request or transaction may breach any obligation, or cause us to commit or participate in an offence under any law, and we will incur no liability to you if we do so. In limited circumstances, we may need to re-verify your identity. Accurate supply and processing of information The trustee is responsible for processing the information you and your employer provide. However, neither the trustee nor the administrator is liable for any loss caused to you because information provided by you or the employer is insufficient, incomplete, incorrect or delayed. The trustee is not liable for any errors or loss because of any delays in receiving information from your previous super administrator or an employer. Super Searches AMP can conduct SuperMatch searches through the Australian Taxation Office (ATO) with your authorised consent. The search requires the use of your Tax File Number (TFN), first name, surname and date of birth to locate details of any super held on your behalf by the ATO and/or the details of any other super accounts you may have with any other institutions. AMP will notify you if the search has been successful in finding other super or if not. We can also assist you in consolidating all your super into your AMP super account(s) should you consent to us doing so. 43

44 Consolidation of multiple accounts Each year the Trustee will identify and review members who have multiple accounts within the Fund. Where the Trustee reasonably determines that it is in the best interest of the member, the member s accounts will be consolidated and the member will receive an exit statement. Members may be provided the opportunity to choose not to consolidate their accounts. Enquiries and complaints process If you need any additional information about the operation or management of your account, or if you have a concern or complaint, then please contact your financial planner or contact AMP Customer Service. Our Customer Service Officers are available to answer your enquiries and complaints. We will try to resolve your enquiry or complaint as quickly as possible. To help us do this, please give us as much information about your complaint as possible. We have established procedures to deal with any complaints. If you make a complaint, we will: acknowledge its receipt and ensure an appropriate person properly considers the complaint, and respond to you as soon as we can. If your complaint cannot be resolved at first contact, then we will keep you informed of the progress and aim to give you a response to your complaint within 10 Business Days. If the complaint is not resolved by that time, then we will keep you advised at regular intervals of the status of your complaint. If we cannot resolve your complaint to your satisfaction within 90 days, then you may have the right to lodge a complaint with the Superannuation Complaints Tribunal (SCT) contact details listed below. Time limits on making complaints to the SCT If you contact the SCT more than 12 months after our decision or response, then the SCT may decide not to deal with your complaint. However there are different time limits for death and disability, please contact the SCT directly for more information. If we have notified you in writing of how we propose to pay a death benefit, you are entitled to lodge an objection to our proposal within 28 days. If you decide to lodge an objection, we will respond with a written notice about our final decision. You will then have a further 28 days from the date you receive this written notice to lodge a complaint with the SCT. You should contact the SCT first to ensure that it can deal with your complaint. Regulated super fund certification from the trustee (to be shown to any contributing employer) The trustee has been granted a Registrable Superannuation Entity (RSE) Licence by the Australian Prudential Regulation Authority (APRA). The RSE Licence number is L The trustee has registered the fund as an RSE with APRA. The registration number for the fund is R The fund is: a resident regulated super fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS). not subject to a direction under section 63 of SIS, and has never previously been subject to a direction under section 63 of SIS. The trustee therefore confirms that the fund is a complying super fund under Part 3-30 of the Income Tax Assessment Act The SCT reviews the decisions of superannuation trustees as they affect an individual member. It is independent from us. Even so, please try to resolve your complaint directly with us before contacting the SCT. Superannuation Complaints Tribunal Phone: or write to: Locked Bag 3060 GPO MELBOURNE VIC

45 AMP and your privacy We may collect personal information directly from you, your employer or your financial planner. Our main purpose in collecting personal information from you is so we can establish and manage your account. If we are not provided with the information necessary to process your application, then we may not be able to process it. We may collect personal information if it is required or authorised by a law including the Superannuation Industry (Supervision) Act 1993, the Corporations Act 2001 and the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act We may also use this information for related purposes for example, providing you with ongoing information about financial services that may be useful for your financial needs through direct marketing. These services may include investment, retirement, financial planning, banking, credit, life and general insurance products and enhanced customer services that may be made available by us, other members of the AMP group, or by your financial planner. Please contact us if you do not want your personal information used for direct marketing purposes. We may need to disclose your personal information to other parties, such as: To other members of the AMP group, If you are part of an employer sponsored plan, to the employer sponsor and the financial planner or broker (if any) responsible for the plan, To your financial planner or broker (if any), Your Insurer, If you are under age 18, to your parent or guardian, If you are part of an employer-sponsored plan, to members of the policy committee for the plan (if any), To external service suppliers who supply administrative, financial or other services to assist the AMP group in providing you with AMP financial services, both here and overseas. A list of countries where these providers are likely to be located can be accessed via our Privacy Policy, To the Australian Taxation Office (ATO) (with your prior consent) to conduct SuperMatch searches to assist you to bring all your super together, To your Spouse or another person who intends to enter into an agreement with you about splitting your superannuation as part of a marriage separation or a de facto (including same sex) relationship separation (the law prevents us from telling you if we receive one of these requests from information about your account), and To anyone you have authorised or if required by law. If information about your health is collected in relation to this product, then additional restrictions apply. The primary purpose for obtaining this health information is for the Insurer to assess your application for new or additional insurance. The insurer may also use this information for directly related purposes for example, deciding whether more information is needed, arranging reinsurance, assessing further applications and processing claims. Your health information may be disclosed to: The financial planner or broker responsible for the Plan, If you are under age 18, to your parent or guardian, Your employer (if you are part of an employer sponsored plan), only to the extent necessary to process any claim you make, Your Insurer (as administrator), The Trustee, The Insurer s reinsurers, Medical practitioners, Any person the Insurer considers necessary to help either assess claims or resolve complaints, and Anyone you have authorised or if required by law. Under the AMP Privacy Policy, you may access personal information about you held by the AMP group. The AMP Privacy Policy sets out the AMP group s policy on management of personal information, including information about how you can access your personal information, seek to have any corrections made on inaccurate, incomplete or out-of-date information, how you can make a complaint about privacy and information about how AMP deals with such complaints. You may obtain a copy by contacting us on or visiting our website at signaturesuper.amp.com.au. Please refer to your Insurance Guide Fact Sheet for contact details of an Insurer other than AMP Life. Transfers to the AMP Eligible Rollover Fund If your account is closed, or we cannot locate you and we need to make a compensation payment to you (eg for a unit pricing error) we may transfer your benefit or partial benefit (a compensation payment) to the AMP Eligible Rollover Fund (ERF). Returns (by way of a crediting rate) are credited annually to your ERF account based on your daily ERF account balance and are guaranteed by AMP Life to never be negative. Crediting rates are determined after deducting fund expenses from the net investment returns allocated to the member. For contact details of the ERF and the latest ERF crediting rates visit amp.com.au or call us on

46 Understanding superannuation terms Throughout this Fact Sheet, unless specified otherwise, the following definitions apply: General definitions Defined term Account, account or SignatureSuper account Accumulation member AMP Meaning A record of your individual super holding in your SignatureSuper Plan. An Accumulation member is a member whose benefits are based on his or her account balance including, where applicable, the amount of any insurance benefit paid to their account. The AMP group. The AMP group is made up of several entities which include AMP Superannuation Limited, AMP Capital and AMP Life. AMP Capital AMP Capital Limited ABN , AFSL No AMP Life AMP MySuper investment option Average Weekly Ordinary Times earnings (AWOTe) Bank account Child Choice investment options Complying superannuation fund Concessional Contributions Concessional Contributions Cap Contributions tax Defined Benefit member AMP Life Limited ABN , AFSL No AMP Life is the issuer of life policies through which the fund invests, and may also provide the insurance cover available to members of the Plan. The investment option known as the AMP MySuper investment option. It uses an approach to investing that continuously evolves to suit the risk profile of members in different age brackets. The average wage of employees in Australia, published by the Australian Bureau of Statistics. Australian bank, building society or credit union account. Child in relation to a person includes: an adopted child, a stepchild or an ex-nuptial child of the person, and a child of the person s Spouse, and someone who is the child of the person within the meaning of the Family Law Act 1975 (for example, a child as a result of a Court Order giving effect to a surrogacy arrangement). For tax purposes, only a child under 18 years of age is a dependant unless the child is a financial dependant. All investment options except for the AMP MySuper investment option. A super fund that receives concessional tax treatment. Contributions to super that are made before tax. Includes Superannuation Guarantee contributions made by employers, salary sacrifice contributions and personal member contributions for which a tax deduction is claimed. These contributions are taxed at a lower Concessional rate of up to 15% (up to the Concessional Contributions cap) which is often referred to as contributions tax. If your income and certain contributions exceed $300,000pa in a financial year, you will be liable for an additional 15% tax on the lesser of the excess over $300,000 and the contributions. You will be taxed directly on this. A higher limit of $35,000 a year applies to individuals aged 50 and over. For all others, the general limit on concessional contributions of $30,000 a year applies. Contributions in excess of the limit will be subject to tax at the member s marginal tax rate. The tax payable on some amounts paid into a super fund. Your super fund usually reduces your super account by your share of this tax. A Defined Benefit member has some or all of his or her benefit defined by reference to a formula, which may include factors such as: the amount of the member s salary, or length of service, or a specified benefit amount, or specified conversion factors on certain events. 46

47 Defined term Dependant Meaning A dependant under superannuation law includes: Your Spouse (i) (including a de facto Spouse whether of the opposite or same sex). Your children (ii) (including an adopted child, a stepchild, or ex-nuptial child). Any person who is financially dependent on you, and Any person with whom you have an Interdependency Relationship (see Interdependency Relationship ). A person must be a dependant on the date of your death to be a beneficiary. (i) For tax purposes, a former Spouse is also a dependant. (ii) For tax purposes, only a child under 18 years of age is a dependant unless a financial dependant. Employee Employee member Employer Employer contributions Excess Concessional contributions Excess contributions tax Excess Non-Concessional contributions Excess Non-Concessional contributions tax Excess Concessional contributions Family member Former employee member Employee of a SignatureSuper employer. An employee who has been nominated by a SignatureSuper employer for membership in its Plan and has been admitted by the trustee to membership of the fund. Includes both a SignatureSuper employer and an Other Employer. Payments made by your employer (or someone associated with your employer) to your super fund. These can include super guarantee obligations, plus any salary sacrifice amounts. Before-tax contributions to your super fund which go over the Concessional Contributions Cap for the year. A penalty tax applicable when an individual exceeds the non-concessional contributions cap and concessional contribution cap (applies to excess concessional contributions made before 1 July 2013). Excess concessional contributions tax is abolished for concessional contributions made from 1 July 2013; instead, for the 2013/2014 financial year and onwards, an individual s income will automatically include the amount of any excess concessional contributions made in the year. After-tax contributions to your super fund which go over the Non-Concessional Contributions Cap. Excess Concessional contributions (see above) are also counted as Non-Concessional contributions. A tax of up to 47% plus Medicare levy on your contributions over the Non-Concessional Contributions Cap. You are personally liable for this tax, and you must ask your super fund to release an amount of money equal to the tax. The Government has announced changes to the treatment of excess non-concessional contributions to allow individuals to withdraw excess contributions and associated earnings. The rates above are subject to Federal Budget changes becoming law. Please visit treasury.gov.au for further information. Before-tax contributions to your super fund which go over the Concessional Contributions Cap for the year. A Family member is a person who in relation to an employee member or Former employee member is: Their Spouse, child, parent, sibling, grandparent, grandchild, Spouse s parent, Spouse s sibling, Spouse of a child of the person, or A person in an Interdependency Relationship with them. Eligibility for Family membership is subject to a minimum age of 13 years. For the purposes of this definition of Family member, child in relation to a person includes an adopted child, a stepchild or an ex-nuptial child of the person and Spouse means a person s husband, wife or de facto Spouse. De facto Spouse is a person of the opposite or same sex who, although not legally married to the person, lives with the person on a genuine domestic basis as a couple. A Retained Benefit member, a deferred member or an account-based pension member of the SignatureSuper Plan. Fund or fund AMP Superannuation Savings Trust ABN Government Co-contribution Insurer Interdependency Relationship A payment made by the Government into your super fund. If eligibility rules are met, the Government pays $0.50 for every $1 you make in personal contributions for which you have not claimed a tax deduction, up to a maximum of $500. For the 2014/2015 financial year, the payment reduces by cents for every dollar you earn over $34,488 (i) and phases out completely at total income (ii) of $49,488. (i) Indexed annually. (ii) Reduced by amounts for which the person is entitled to a deduction for carrying on a business. An entity that provides insurance cover in accordance with the insurance policy taken out by the trustee (see your Plan Summary for your applicable Insurer(s)). Two persons (whether or not related by family) have an Interdependency Relationship if: they have a close personal relationship, and they live together, and one or each of them provides the other with financial support, and one or each of them provides the other with domestic support and personal care. An Interdependency Relationship also includes two persons (whether or not related by family): who have a close personal relationship, and who do not meet the other three criteria listed in the paragraph above because either or both of them suffer from a physical, intellectual or psychiatric disability. 47

48 Defined term Member Non-Concessional Contributions Non-Concessional Contributions Cap Other employer Personal after-tax contributions Meaning Includes an employee member, a Former employee member and a Family/Spouse member. These are amounts that count toward your Non-Concessional Contributions Cap, ie personal contributions which are not claimed as an income tax deduction. These include contributions made by your Spouse to your super account. For the 2014/2015 financial year, non-concessional Contributions made to super are capped at $180,000 per year, or $540,000 over a three-year period if under age 65. An employer who has no agreement with the trustee to participate in SignatureSuper but may or may not make contributions to SignatureSuper anyway. Contributions you make with after-tax money, such as your take-home pay, and include Personal Member Contributions and Spouse Contributions. These are also called Non-Concessional and personal contributions. Plan As a SignatureSuper employer, this means the particular SignatureSuper employer s Plan in the fund. If you are an employee member, this means your SignatureSuper employer s Plan in the fund. If you are a Spouse or Family member, this means your Family/Spouse s SignatureSuper Plan in the fund. Plan account A record of money not allocated to accounts within a plan. Preservation Age The age when you can access your super benefits after retiring (with some exceptions) see page 34. Release authority Salary sacrifice contributions SignatureSuper SignatureSuper employer Spouse Spouse member Stamp duty Super Co-contribution Super Guarantee (SG) contributions Superannuation benefit Tax on excess concessional contributions Terminal Medical Condition We, us, our, ASL, issue or trustee An Australian Tax Office document that authorises a super fund to release an amount from your super account. Often used to pay tax on excess contributions. When you arrange for your employer to put a part of your before-tax salary into your super account for your benefit. These contributions count toward your Concessional Contributions Cap. Name of the financial product within the fund. The employer who has agreed with the trustee to participate in SignatureSuper and any associated employers who make contributions to SignatureSuper. Spouse of a person includes: The person s husband or wife. Another person (whether of the same sex or a different sex) registered on the relationship registers of a state or Territory, which at the date of this Fact Sheet are Queensland, Victoria, Tasmania, Australian Capital Territory and New South Wales. Another person who, although not legally married to the person, lives with the person on a genuine domestic basis in a relationship as a couple. The Spouse of a person who is an employee member and who has applied for and been admitted by the trustee to the membership of the fund and belongs to the Plan. Stamp duty is a Government levy charged on insurance. It is either incorporated into the base premium rates or may be an additional charge over your insurance premium. Stamp duty rates are dependent upon the following: Government legislation. Where we record where you live (eg if you move from New South Wales to Queensland, the rate of stamp duty you pay may change). A payment made by the Government into your super fund. See page 9 for further details. The before-tax minimum level of superannuation contributions that an Employer must contribute for eligible employees. The SG rate will increase from 9.25% to 9.5%, of an employee s ordinary time earnings, from 1 July The amount you are paid either as a super income stream, lump sum or a combination. Excess concessional contributions will be taxed at the individual s marginal tax rate, plus an interest charge to recognise that the tax on these excess contributions is collected later than normal income tax. Also, individuals will have the option of withdrawing up to 85% of their excess concessional contributions for the financial year from their super. A Terminal Medical Condition exists in relation to a person at a particular time if the following circumstances exist: Two registered medical practitioners have certified, jointly or separately, that the person suffers from an illness, or has incurred an injury, that is likely to result in the death of the person within a period (the certification period) that ends not more than 12 months after the date of the certification. At least one of the registered medical practitioners is a specialist practicing in an area related to the illness or injury suffered by the person. For each of the certificates, the certification period has not ended. AMP Superannuation Limited ABN , AFSL No , as trustee of the fund. You or your If you re an employee member, a Former employee member or Family/Spouse member, this means you as a member of the Plan. As an employer, this means a member. 48

49 Contact your financial planner or an AMP Corporate Superannuation Customer Service Officer phone fax web signaturesuper.amp.com.au mail SignatureSuper Customer Service Locked Bag 5043 PARRAMATTA NSW 2124 Unit price and performance information amp.com.au/figures NS /14