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