Generations Personal Super and Personal Pension Additional information booklet

Transcript

1 Generations® Pension and Personal Super Personal Additional booklet information Throughout this booklet Contents References to: To be read as: can 1. Wha of contributions t type 2 be made? Inrespectofamember ,thevalueoftheunderlying Portfolio annua tion? 4 2. When can I access my super investmen cash)heldbythetrustee on ts(including e balanc the member’ s behalf. paymen 3. Wha t about pension ts and withdr awals? 5 AMP, our, we or AMPLimited ABN49079354519anditsAustralian t risk s apply to investing? 7 4. Wha us subsidiar y companies AMP Life Limited , including dea the 5. How be paid will th? benefit 9 upon ABN84079300379,AFSLicenceNo.233671 (AMP Life), NMMT Limited ABN 42 058 835 573, AFS 11 6. Wha t about taxation? and N.M. Superannuation Licence No. 234653 (NM Super) y Limited ABN 31 008 428 Proprietar 7. Wha 14 to know? do you need t else 322, AFS Licence No. 234654. adviser A financial Financial an Australian Financial holding adviser Services (AFS) Licence or acting as an authorised representative of an AFS licensee. t provides additional information and This documen formspartofthe GenerationsPersonal SuperandPersonal SuperannuationandPension Fund Fund WealthPersonal t (PDS) dated 30 e statemen product disclosur Pension GenerationsPersonal ABN92381911598ofwhich 2017. You should read this documen t in September are a part. Pension Super and Personal about conjunc tionwiththe PDS beforemaking adecision Pension Generations Super and Personal Generations Personal . Generations Personal . Pension Super and Personal Super and of Generations Personal A member You or member tandthe PDS from Youcanaccessandprintthisdocumen Pension Personal , including any person you . You can also obtain .com.au/generations northonline a to act on your behalf. authorise paper copy at no extra cost by contacting your financial .com.au adviser ortheNorthServiceCentreat [email protected] or on 1800 667 841. 18, 1 May 2019 Issue number ® Register ed trademark of NMMT Limited ABN 42 058 835 573. Issued by N.M. Superannuation Proprietar y Limited (NM Super) ABN 31 008 428 322, AFSL No. 234654. NM Super is the Trustee of the Wealth Personal Superannuation and Pension Fund, ABN 92 381 911 598.

2 ₁ Concessional contributions type of contributions . What can be made ? Super account accepts these Your Generations Personal Contributing to your personal super concessional contributions: allowed Super accepts all contributions Generations Personal Type of contribution How it works table,subjecttoproductminimums . bylawasperthefollowing SG/award/industrial and award/industrial SG contributions t are manda ted t contributions agreemen agreemen that can be made Types of contributions Your contributions paid into your account by your age employer. The amoun t your employer must Under – Manda ted employer contributions (superannuation issetbylegislationortherelevant contribute 65 t) agreemen guarantee (SG) and award/industrial t and is a agreemen award/industrial – Voluntary employer contributions percentageofyourbefore-taxincome.TheSG percentageissetat9.50%ofyour contribution – Salary sacrific e salary. – contributions Personal – Your employer can make extra contributions Additional employer Spouse contributions contributions to your account in addition to manda ted SG – t contributions Governmen . oraward/industrial tcontributions agreemen – Rollovers from a closed first home saver account may include These extra contributions – Other third party contributions payments for insurance premiums and fees. Age 65 – Manda ted employer contributions (SG Salary sacrific Salary sacrific e are deducted e contributions to 69 award/industrial t) agreemen contributions from your before-tax salary. You will need to enter into an agreemen t with your employer – andsalarysacrificing Voluntaryemployercontributions . to be able to make such contributions onceyouhavebeengainfullyemployedforatleast40 e days in that of 30 consecutiv hours in a period Members personal who are making Personal the contribution year prior to making financial contributions to claim a tax contributions for may be eligible – a valid notice deduction. The Australian Tax Office (ATO) which including contributions spouse contributions Personal contributions , in the first treats all personal of your intention to onceyouhavebeengainfullyemployedforatleast40 claimataxdeduction instanc e,asnon-concessional andadjusts the of 30 consecutiv e days in that hours in a period to concessional contributions if a tax is received the contribution financial year prior to making deductionisclaimed inyourincometaxreturn – Other third party contributions once you have been and a valid notice of your intention to claim of gainfullyemployedforatleast40hoursinaperiod a tax deduction is received by us. 30 consecutiv e days in that financial year prior to Thesearecontributions Other third party madetoyouraccount making the contribution by someone , or , who is not your spouse contributions – Governmen t contributions previously know as employer. – first home saver account Rollovers from a closed family and friend – Downsizing super contributions contributions Age 70 – (SG and ted employer contributions Manda ts that amoun For information on the maximum concessional to 74 award/industrial agreemen t) in any one year, refer to the section can be contributed what – andsalarysacrificing Voluntaryemployercontributions about taxation? onceyouhavebeengainfullyemployedforatleast40 e days in that of 30 consecutiv hours in a period Non-concessional contributions year prior to making financial the contribution are generally made to a contributions Non-concessional – spouse excluding contributions Personal contributions superannuation fund from a member’ s after-tax income, onceyouhavebeengainfullyemployedforatleast40 to this rule apply. some exceptions though hours in a period of 30 consecutiv e days in that year prior to making the contribution financial Super account accepts these Your Generations Personal – Governmen t contributions non-concessional contributions: – Downsizing super contributions Type of How it works Age 75+ – Manda ted employer contributions only (SG and contribution t) award/industrial agreemen You can arrange with your employer to make Personal – super contributions Downsizing contributions regular contributions viaapayrolldeductionfrom your after-tax salary. Alterna tively, you can make For more information contact your financial adviser or visit contributions directly to the Fund. If you make . ato.gov.au personal contributions , you may qualify for the Governmen t’s co-contribution scheme (refer to other contributions on page 3 for more details ). 2

3 splitting Superannuation contribution How it works Type of contribution of the Fund, you may elect to split contributions As a member paid by your spouse These are contributions Spouse withyourspouse .Themaximum amoun tofcontributions that contributions intoyouraccount.Yourspouse doesnotneed can be split is the lesser of 85% of your concessional to be a member of the Fund to make spouse (which e includes SG and salary sacrific contributions . contributions contributions cap. ) and the concessional contributions transfers made from These may include Other types of contributions The following can be split: foreign funds and rollovers from closed first contributions home saver accounts. – SG e – salary sacrific ts amoun non-concessional For information on the maximum – deductible personal contributions in any one year, refer to the section that can be contributed . – voluntary employer contributions taxation? what about Generally, you can split contributions with your partner if: Other contributions – you are married Other contributions the Fund may accept include: certain – you are in a relationship that is register ed under y laws, including state or territor same sex relationships Type of How it works contribution – you are of the same or of a different sex, and that person liveswithyouonagenuine domestic basisinarelationship t may make Governmen , the governmen t If you are eligible (i) certain contributions contributions . to your account as a couple (known as a ‘de facto spouse’) or their preservation age, or between – your partner is under Rollovers from If you are entitled to a benefit from another their preservation age and age 64 and not retired under superannuation fund, deferred annuity other , superannuation retirementsavingsaccountorapproveddeposit superannuation law. funds to roll over the amoun fund, you may choose t You have until 30 June of each year to split contributions for and consolida te your superannuation benefits for thepreviousfinancial year.Youcanalsosplitcontributions under this Fund. This may also be the simplest year, only if your entire benefit the present financial is being and most cost-efficient approach to keep track (ii) of your superannuation benefits . awn before the end of that financial withdr year as a rollover, transfer, lump-sum tion of these. benefit or combina transfers. Transfers from toacceptoverseas TheFundiseligible adviser For more details contact your financial funds . overseas adviser contact your financial For further information please tively,you ortheNorthServiceCentreon1800667841.Alterna ofqualifying Certainproceedsfromthedisposal Capital gains tax ato.gov.au can visit . small business can be contributed. You (CGT) small assets toconfirm adviser yourfinancial consult should business How to make a contribution if you are eligible to make this type of contribution. Contributions Concessional injury fromcertainpersonal Personal Paymentsarising injuries Youremployerisgenerallyrequiredtopaysupercontributions may be contributed to your super account. For payments (superannuationguarantee)everythreemonths.Youremployer further information, please contact your (from your employer contributions can also pay additional . financial adviser ifyouareanemployeeofyour pre-taxsalary).Thisalsoapplies If you are age 65 or over and satisfy eligibility super Downsizing t’s eam, the governmen SuperStr y. Under own compan contributions requirements, you may be able to make a legislation for electronic super payments, all employers need supercontribution downsizing ofupto$300,000 the that meets through a method to pay super contributions your home. from the proceeds of selling SuperStr eam rules. See (i) for more information. ato.gov.au Employers can do this by using: You should be aware of all the implica tions before transferring (ii) that complies with their own software solution – whether benefits , including your other superannuation fund(s) charge an exit fee when you transfer and any loss of insurance SuperStr eam cover. asolution cedpayrollorotherserviceprovider byanoutsour – with SuperStr that complies eam such as the Small Business a clearing house – funds Transfers from overseas Superannuation Clearing House UK pension transfers More information about eam is available at SuperStr ato.gov.au/Super/ SuperStr eam or The Fund is not a Qualifying Recognised Overseas Pension amp.com.au/regulatorychange/superstr eam. Scheme (QROPS) and therefore cannot accept transfers from . UK pension schemes KiwiSaver schemes ver At this time, we do not accept transfers from KiwiSa . However, you may transfer your benefits from your schemes KiwiSa account to a New Zealand . ver scheme 3

4 Non-concessional contributions ₂ my superannuation ? can I access . When by at any time on North Online You can make a contribution is the total of all contributions Your superannuation benefit direct debit. t rolled over or transferred in, plus investmen made, benefits banking Alterna tively, you can use your bank’s online facilities ,insuranceproceeds(ifany),lessfees,taxes,lump-sum earnings details: to EFT or BPAY® your contribution using the following withdr (if any) and other charges. awals, insurance premiums Most superannuation benefits are preserved and superannuation law dictates that preserved benefits can only facilities How to use EFT and BPAY through your banking 1 es : be paid in any of the following circumstanc EFT when you reach age 65 – 1. Log onto your online banking facility if you cease employment after age 60 – 2. Enter account name – your first name and surname whenyoureachyourpreservationage(refertopreservation – – 033 806 3. Enter BSB number age table) and are still working full time, your – this is your 8 digit 4. Enter bank account number can be used to commenc superannuation benefit e a Donotinclude (Note: Generationsaccountnumber theletter), non-commutable allocated pension Plus when you permanen tly retire, after attaining the – – 1 for personal, to you (refer to preservation preservation age applicable . for spouse contributions – 3 age table) Example upon your death – for John Doe contribution A personal if you suffer permanen t incapacity by the as defined – Account name: John Doe y (Super vision) Act 1993 Superannuation Industr BSB: 033 806 if you satisfy the criteria of part or all of for early release – Account number : 12345678 1 your benefit on the grounds of severe financial hardship willprovide Note: Anycontributions processedviaNorthOnline to the satisfaction of the Trustee or BPAY reference number an account number with the final iftherelevantgovernmen tauthority approvestherelease – digit of 9. on specified compassiona te grounds if you satisfy the criteria of terminal medical as condition – BPAY by superannuation law specified 1. Log onto your online banking facility tly whenyouhavebeenalostmember andaresubsequen – 2. Enter BPAY biller code – 38778 found, and your account value is $200 or less – this is your 8 3. Enter BPAY reference number ary residen t of Australia, when you if you were a tempor – digitGenerationsaccountnumber (Note: Donotinclude the tlyleaveAustraliaandrequest forthe permanen inwriting letter) release of your benefits Plus Ifyouqualifyforanamoun ttobereleased undertheFirst – for member non-concessional, – 1 Saver Super Scheme , or Home . contributions for spouse – 3 withanyothercondition ofrelease oncomplying specified – Example by superannuation law. for John Doe contribution A personal ,youmaybeeligible Ifyousufferprolongedillness ordisability Account name: John Doe Biller code: 38778 . ary incapacity to claim a tempor benefit BPAY reference: 12345678 1 Note: Anycontributions processedviaNorthOnline willprovide an account number or BPAY reference number with the final digit of 9. Non-concessional can also be made by cheque . contributions All cheques should be attached to a deposit advice created on NorthOnline andmadepayableto‘North’.Forwardthecheque along with the deposit advice to: North Service Centre GPO Box 2915 MELBOURNE VIC 3001 ® Register ed to BPAY Pty Ltd ABN 69 079 137 518 1. The conditions of release may not be available ary residen t. If you are or were a tempor ary residen t – and are to you if you are or were a tempor not now an Australian citizen, a permanen t residen t of Australia, a New Zealand citizen, or a holder of a retirement visa (Subclass 405 or 410) or – you can generally only access your preserved super benefits tly incapacita ted, have a terminal medical condition, if you become permanen have departed Australia permanen tly and your visa has ceased, or your beneficiaries may access your benefits if you die. 4

5 Preservation rules allocated pension Non-commutable tearnings (NCAP), Allsuperannuationcontributions isanon-commutable Ifyourpension allocatedpension plusanyinvestmen ts. are preserved. your funds may consist of three preservation componen Income payments will be made from your preservation Date of birth Preservation age order (if applicable): componen ts in the following 55 Before 1 July 1960 – unrestricted non-pr eserved – restricted non-pr eserved From 1 July 1960 to 30 June 1961 56 – preserved. 57 From 1 July 1961 to 30 June 1962 NCAPs require payments of a minimum amoun t to be made From 1 July 1962 to 30 June 1963 58 .Amaximum atleastannually annual paymentalsoapplies to From 1 July 1963 to 30 June 1964 59 is 10% of an NCAP. In the first year of the NCAP, the maximum t. In subsequen your initial investmen t years, the maximum On 1 July 1964 or after 60 e as at income payment is 10% of your account balanc annual Some or all of a benefit you roll over to the Fund may be 1 July. eserved or unrestricted preserved, restricted non-pr the amoun In the first year of an NCAP or allocated pension, t yourolloverwillretainthisstatus. non-pr eserved.Thebenefits to receive as income will be distributed pro rata you choose canbewithdr awnatany Unrestrictednon-pr eservedbenefits days in the financial across the remaining year, unless you time. Restricted non-pr eserved benefits awn can be withdr instruc t us otherwise. when you cease employment with the employer who made they relate. to which the contributions minimum Annual income payment amoun ts Speak if you require further adviser to your financial information. The minimum amoun t of income that must be paid in a year on your account balanc ted based is calcula e at the date you by the applicable first invested multiplied percentage factor Withdrawals t legislation, then recalcula prescribed ted each by governmen canberolledintoanother super complying Preservedbenefits t1Julybasedonthewithdr subsequen awalvalueatthatdate. orapproved fund,retirementsavingsaccount,deferredannuity and NCAPs. The to both allocated pensions This is applies fund. They may (and in some cases must) deposit be used to annual table sets out the minimum following income pay any excess contributions tax liability you may have. If you payments. have such a liability you will be provided with a notice from % of account balance Age at 1 July ATO and you can elect to release ts from your excess amoun super. 4 Less than 65 superannuation law If you meet a condition of release under 65–74 5 eserved benefits , you may be able or have unrestricted non-pr 75–79 6 aw this as a lump sum or as an income stream by to withdr your benefit transferring to a pension account, subjec t to 80–84 7 eligibility . 85–89 9 Speak to your financial adviser for more information about 90–94 11 restricted non-pr eserved and unrestricted non-pr eserved benefits . 95 or more 14 to conduct super to pension We offer the ability transfers payments Pension quickly throughNorthOnline andeasily.Ifyouhaveanyqueries please contact the North Service Centre rules: payments must satisfy the following Your pension 1800 667 841, via northonline .com.au/generations or calling year, – Youmustreceiveatleastonepaymenteachfinancial adviser or speak to your financial . June, in which unless you invest during case no pension payment is required in that financial year. ₃ payments pension . What and about – Yourgrossannual paymentmustbeatleasttheprescribed amoun t.Youcanchoose toreceivetheminimum minimum wals? withdra annual pension or any amoun t above this (a maximum payment applies to an NCAP). The prescribed minimum Allocated pension at the time of your first t is determined pension amoun require payments of a minimum t amoun Allocated pensions investmen t for that year and each subsequen t 1 July. If to be made at least annually . There is no restriction on how your pension commenc es on any day other than 1 July, aw from your allocated pension above much you can withdr your first year’s minimum payment will be calcula ted pro level other than your total account value. This the minimum rata for the number of days until the next 1 July, unless cashing amoun may include t. out the whole you instruc t us otherwise. 5

6 you would like your additional If you do not specify whether How long will allocated pension payments continue? awalsasanadhocpension withdr tion, paymentoracommuta tion. we will treat them as a commuta paymentsfromyouraccount Wewillcontinuetomakepension If you make a full lump-sum withdr awal from your pension, until the withdr awal value of your account is nil. pension we are legally required to first pay your minimum payments continue depends The length of time your pension year. If you t for the relevant portion of that financial amoun tofpension onthesizeofyourinvestmen youtake t,theamoun t, no additional have already received more than this amoun commuta tions, fees and the each year, and any lump-sum pension payment is required. If you make a partial lump-sum investmen t earnings generated from the investmen t option awal,youneedsufficientfundsinyouraccounttomeet withdr .Thereisnoguaranteethatyourpension oroptions youchoose portion of the minimum pension payments for the remaining payments will continue for life. financial year. Transfer balanc e cap your pension payments Changing tthatyoucantransfer Taxlawplacesacaponthetotalamoun te On 1 July each year, we are required to review and recalcula are tax exempt. This is accounts where earnings into pension your minimum pension level based on your age and account d transfer known as the transfer balanc e cap. The standar withdr awal value. You are advised of your new minimum for the 2018/19 year and financial e cap is $1.6 million balanc pension levelshortlyafterthereviewiscompleted. Ifyoudon't may increase in the future due to indexation. Your personal t,thenyourpayment askustoalteryourannual pension amoun transferbalanc dcapdueto ecapcoulddifferfromthestandar year, unless: will be the same as for the previous financial timing tionstoyourtransfer andindexationimpacts. Modifica increase the amoun t – you have asked us to automa tically balanc ecapmayalsoapplyincertaincircumstanc esincluding ted by the inflation rate or by a nomina each year, either or if you are a injury contributions if you have made personal percentage, or t that you transfer y. The amoun beneficiar child death benefit into your pension account (excluding non-commutable your your payment to remain – we have to adjust within accounts where earnings allocated pension are taxed) will minimum level applicable for that year. ecap.Anyamoun tsinexcess counttowardsyourtransferbalanc account ofyourcapwillneedtoberemovedfromyourpension Flexible payment options andyouwillneedtopay,directlytotheATO,taxonthenotional payment is flexible to suit your changing Your pension needs. ts in excess of the cap related to the excess. Amoun earnings You can choose to receive your pension: will canbetransferredintoyoursuperaccountwhereearnings tively, it can be withdr awn from the be taxed at 15%. Alterna – fortnightly superannuation environmen . t completely – monthly e cap, you may receive a If you exceed your transfer balanc – quarterly you to remove excess funds, notice from the ATO requiring – half-yearly, or including anotional t.Ifyoudonotactonthe earnings amoun – yearly. 60 days of the notice issue date, we may receive notice within tion Authority a Commuta notice from the ATO requiring us to ver frequency you choose , you can also nomina te the Whiche remove the excess amoun t from your Generations Pension andyoumaychangethe dateyouwishtoreceiveyourpension account. and/or payment date at any time. You can select a frequency datebetweenthe1stand28thofthemonthorthelastdayof IfwereceiveaCommuta tionAuthority relatingtoyouraccount, the month. effortstocontactyouforpayment wewillmakeallreasonable instruc tions. If your regular payment date falls on a weekend or a national on the preceding public holiday, we will pay your pension Ifwedonotreceiveavalidinstruc tionfromyouoryouradviser business day. within 40 days’ of the date of issue of the notice, we will the amoun commute t from your account using your existing paid? How is your pension sellprofile(orproportionally ifnosellprofileexists)andtransfer it into a new Generations Super account that we will open on Yourpension paymentsarepaidintoyournomina tedAustralian your behalf. If we do this you will receive a welcome pack in bank account. the mail. Note: Your bank may charge you a fee for this service. In the case that there are insufficient funds to meet the tion Authority , we will action the authority with Commuta account. available funds and close your Generations Pension Withdrawals Anyinsuranceattached toyourpension accountatclosuremay subsequen te as a result. tly termina awals withdr Allocated pension Formoreinformationonthetransferbalanc ecapcontactyour those other than regular Withdrawals (being pension financial or refer to . ato.gov.au adviser payments) can be made at any time from your allocated pension. For pensioners aged 60 or over, lump-sum benefits and income stream payments are tax free. awals can be: For pensioners under age 60, withdr payments,which maybetaxedatmarginal adhocpension – tax rates, or withdr lump-sum awals(called are commuta tions),which – treated as superannuation lump-sum benefits and may tax. be subjec t to lump-sum 6

7 NCAP withdr awals Legislative risk is an NCAP, withdr awals other than pension es to superannuation legislation can affect: Chang If your pension payments are only allowed in the following circumstanc es: – who can invest – to withdr eserved benefit aw any unrestricted non-pr t of tax you need to pay, and – the amoun – to pay a superannuation surcharge liability aw money. – when and how you can withdr – to effect a superannuation split under Family Law risk Liquidity – where a condition of release (eg retirement or reaching age 65) has been met after the allocated pension Thisistheriskthataninvestmen tmaynotbeeasilyconverted ed commenc into cash with little or no loss of capital and minimum delay, – to roll back to superannuation (eg if the income stream te market depth because of inadequa or disruptions in the from the NCAP is no longer required) marketplace.Investmen ,withdr awals,rolloversand tswitches income stream, non-commutable – to roll over to another transfers from your superannuation or pension account are or all the 30 days of us receiving normally processed within necessary information. There is an exception to this . tax liability – to pay for non-concessional contributions requirement where particular investmen ts have redemption t manag restrictions imposed by the underlying investmen er Withdrawal payment options that prevent us from paying the benefit this period. within ts’. investmen These are referred to as ‘illiquid include: Withdrawal payment options tedbankaccountheldinyour – directcredittoyournomina Market risk name, or complying – transfer to another superannuation fund. Market risk is the risk that the price of the assets you have ts can be invested in may fall. For example, your investmen copiesofcertain aw,wewillaskyoutosupply Whenyouwithdr affected by changes in: proofofidentitydocumen ts,forexample acopyofyourdriver’s licence or passpor t. – interest or inflation rates – governmen t legislation or taxation, and Forpartialwithdr awalsoflessthan80%ofyouraccountvalue, we will automa tically process the withdr awal of your funds – market sentiment. without awaiting sale proceeds from underlying investmen ts. e. Thewithdr awalwillbemadefromyourcashaccountbalanc Risk of delay your cash account balanc e may fall below During this period tions to buy and sell ers receive instruc Generally, fund manag zero unless there are sufficient funds for the withdr awal. these instruc ts each day. But sometimes tions can investmen bedelayed,potentiallyaffectingtheamoun tyoureceivewhen ₄ . What risks apply to investing? thetransactiontakesplace.Forexample,atransactionmaybe delayed if: Every investmen t involves risk. Here’s an overview of some of does not have enough – your transaction request detail for the t risks you may face. To find out more about the significan us to act on it e them, talk to your financial adviser risks and how to manag . isn't signed – the request tions are illegible – the instruc or incomplete Currency risk – the transaction does not meet the minimum t investmen Currency risk is the risk that the Australian dollar value of er awal requirements set by the fund manag or withdr of currency fluctuations. may fall because assets overseas – a system failure occurs when processing the transaction Currency changes can also work in your favour, increasing the er), or to your account (by us or the fund manag value of offshore assets. t option – the investmen has restricted withdr awal or redemption periods . Derivatives risk or warrants, that , such as options Derivatives are securities e d Risk Measur Standar assetorindex.Depending derivetheirvaluefromanunderlying d Risk Measur e (SRM) is a common risk descriptor The Standar ontheinvestmen tsyouselect,yourfundmanag ermayactively used by superannuation funds. e risk or increase returns . But use derivatives to manag derivatives can also result in more volatile returns , increasing It is based tial e from the Australian Pruden on guidanc the risk of gains and losses. to compar Regulation Authority (APRA) to allow investors e that are expected to deliver a similar investmen t options risk Gearing number returns over any 20-year period. of negative annual We have introduced the SRM in accordance with the Some investmen may be geared using loans or t options (FSC) Services Council tions from the Financial recommenda derivatives. While gearing returns when your can multiply and Associa tion of Superannuation Funds of Australia (ASFA). if your losses ts rise in value, it can also multiply investmen tsfall.Asaresult,gearing canincreaseriskandmake investmen more volatile. t returns investmen 7

8 For each investmen ted by the SRM is calcula t option, SRM descript ors on an determining the probability of a negative return based Each investmen listed in the Generations investmen t option t by 20. expected normal distribution of returns multiplied options productdisclosur estatemen thasbeenassigned aSRM. Changes to the SRM The table below sets out the SRM labels used for each tchangestomarket anysignifican toption, Foreachinvestmen toption ofnegative investmen tednumber basedontheestima may alter the SRM from time to time. In addition, conditions annual returns thataninvestmen toption mayexperienc eover anychangestothemethodology any 20-year period. anyregulatory used(including changes) may also alter the SRM results. We will generally Estimated number Risk band Risk label of negative review the SRM each year. returns annual over any 20 year period SRM Differences between each provider's 1 Very low Less than 0.5 be aware that the SRM labels used for each Investors should Low 2 0.5 to less than 1 investmen tandmaydiffer arebasedonourassessmen toption by other providers. The differences are to those assigned 3 1 to less than 2 Low to medium tingtheSRM. usedincalcula generallyduetothemethodology 2 to less than 3 Medium 4 More about SRMs 5 3 to less than 4 Medium to high contactyourfinancial adviser ,please Ifyouhaveanyquestions 6 4 to less than 6 High or the North Service Centre on 1800 667 841. 6 or greater Very high 7 Diversifying your investmen t t options with a risk band of 5 have a For example, investmen e between 3 to to high risk label and may experienc medium Diversifica tion can be an effective strategy for reducing risk over any 20-year less than 4 years of negative annual returns and smoothing your . Spreading t returns out investmen period. investmen helps to ensure that you ts across a range of assets t. Because to the risks of a single investmen are less exposed Limitations isperforming oneassetclassmayperformwellwhenanother t of all forms of assessmen The SRM is not a complete treturns tioncanhelpyouearnmoreconsisten poorly,diversifica investmen t risk and does not replace the need for financial . across a range of market conditions t option advice when construc ting an investmen portfolio. For adviser portfolio Yourfinancial canhelpyoucreateadiversified e, it does not detail what the size of a negative return instanc t goals. designed to achieve your investmen e return to be less than could be or the potential for a positiv Broadlyspeaking amixofinvestmen ,youradviser willchoose ts an investor may require to meet their objectives. Further, it from five main asset classes: does not take into account the impact of administr ation fees and tax on the likelihood of a negative return. – cash – international and Australian fixed interest The SRM is not a comprehensiv e account of the risks of should and investors investing these risk labels in consider – international and Australian property conjunc tion with the different risks of investing that apply to – international and Australian equities their investmen ts. Investors should still ensure they are – alterna tive investmen ts. comfortablewiththerisksandpotentiallossesassocia tedwith , each asset class has produced different levels of Historically t option(s investmen ). their chosen y of these risks and returns: risk and return. Here is a summar Methodolog y Asset class risk and return profiles The methodology used for calcula ting the SRM follows the Asset class Time Expected Expected Definition tionsandisinlinewithmarketadopted FSC/ASFArecommenda horizon risk return practices. and Cash Bank deposits Low Low Generally t option, the process determines a set of For each investmen short-dated debt 1-3 years market assumptions forward looking by forecasting capital by issued expected yield and growth outcomes for each asset class. ts and governmen corporations ationfees, returnoutcomesaregrossofadministr Theassumed net of investmen ement fees, and gross of tax. t manag Fixed Generally Includes Medium Low - Generally,alpha(outper e)hasbeenassumed tooffset formanc 2-4 years oducing income-pr Medium interest assets t to (Governmen ementfees,howeverforsomeassetclasses tmanag investmen bonds, fixed term Medium (where appropriate) a small amoun t of alpha in excess of deposits , mortgage ement fees is assumed. investmen t manag trusts) t options , a ) investmen For multi sector (or diversified tial, residen Includes Medium Property High to Generally has also been correlation matrix between the asset classes to High Very 3-5 years office, retail or determined usinglongtermhistoric data.Boththeassumptions High property. industrial a multi sector and correlations are then used to determine Property may be investmen ’s expected risk and return by combining t option listed (traded on the them with its long term strategic asset allocation. stock exchange similar to shares) or unlisted 8

9 dependan t,adeathbenefit Inthecaseofachilddeathbenefit Asset class risk and return profiles income stream may be paid only where, at the time of the Expected Expected Definition Asset class Time member’ s death, the child dependan t is: horizon risk return 18 years of age – under Medium High Generally Equities are Equities – between 18 and less than 25 years of age and financially individual holdings to High 5-7 years in dependen t on the member , or companies that are listed on a stock – disabled as defined in disability services legislation. exchange, eg ASX. tmust incomestreampaidtoachilddependan Adeathbenefit The value of equities age25andpaidasatax whenthechildreaches becommuted mayriseorfalldueto the child is disabled within t, unless free amoun the meaning market cycles, the Services Act 1986 of the Disability . profitability of the underlying adviser Contact your financial for further details . companies , etc. High Generally High Hedge funds, tives Alterna t Dependan commodities ,private 5-7 years market instrumen ts, A dependan t under superannuation law includes: andotheralterna tive , and including a de facto spouse , including Your spouse – investmen ts section sex. Refer to the spouse of the same or opposite below your children (an adopted child, a stepchild, or ex-nuptial – ₅ death? be paid . How will the benefit upon child) t on you, and dependen who is financially any person – You may choose ting for nomina options one of the following any person you have an interdependency with whom – wouldbepaidintheeventofyourdeath: howadeathbenefit . relationship is bound tion – the Trustee death benefit binding nomina – relationship Aninterdependency (whether iswheretwopersons ) you have nomina to the person(s to pay your benefit ted or not related by family) have: tion is valid. as long as your nomina binding death benefit nomina tion – the non-lapsing – a close personal , and relationship – to the person(s ) you Trustee to pay your benefit is bound they live together, and – tedaslongasyournomina havenomina tionisvalid.Unless one or each of them provides the other with financial – an amendmen t or revocation is made, a non-lapsing suppor t, and tion will not expire. nomina binding one or each of them provides the other with domestic – nomina tion – the Trustee will death benefit non-binding – t and personal suppor care. consider thenomina tionprovidedbyyoubuthasdiscretion relationship An interdependency two persons also includes ts to one or more of your dependan to pay your benefit (whether or not related by family): representative in proportions and/or your legal personal . it determines who have a close personal relationship , and – reversionar ypensioner –youcanrequest thatyourpension – whodonotmeettheothercriteria listedintheparagraph – ting your spouse or continues after your death by nomina either or both of them suffer from a above because . y pensioner your child as a reversionar physical, intellectual or psychiatric disability . tonthedateofyourdeathtobe Aperson mustbeadependan Payment of super and pension assets a beneficiar y. If a death benefit of your becomes payable it will consist Spouse accountbalanc eandtheproceedsofanyinsuranceclaimpaid by the Insurer, if applicable . includes: of a person Spouse dependan A death benefit t can ask to receive payment as a or wife ’s husband – the person tion of both. For pension or a combina lump sum or pension – another (whether person of the same sex or a different accounts – where a reversionar y beneficiar y has been y registry of a state or territor sex) on the relationship nomina ted the pension will continue to be paid as a t are Queensland, at the date of this documen (which reversionar y pension. the Australian Capital Territory, South Victoria, Tasmania, No tax is paid on lump-sum paid to a death death benefits Wales) Australia and New South t (as defined in tax legislation). A pension dependan benefit to the person who, although not legally married – another a t, including dependan payable to your death benefit liveswiththeperson person, onagenuine domestic basis , may be tax free depending reversionar y pensioner on, for example, your age when you die and the age of the recipien t as a couple. in a relationship t beneficiar y. If the pension is taxable, the taxed dependan twillbetaxedasassessable elemen tofthetaxablecomponen income and subjec t to a 15% tax offset. A beneficiar y who is not a death benefit dependan t can only t of the taxable be paid a lump sum. The taxed elemen componen t of a lump sum paid to a non-ta x dependan t children18andover)istaxedat15%plusMedicar (including e levy. 9

10 Binding Non-lapsing tion binding death benefit nomina death benefit tion nomina death benefit binding A non-lapsing tion is a request to the es we must pay your benefit In most circumstanc nomina to pay your benefit by you to the Trustee beneficiaries you have nomina ted and in the proportions you to the beneficiaries youhavenomina tedandintheproportionsyouhavespecified. tion is valid for up to three nomina A binding have specified. If the Trustee years and must be renewed on expiry. consents to the nomina tion and it is valid at the time of your death, the Trustee is bound to pay your death tion to be valid: For a binding nomina benefit in accordance with the nomina tion. A non-lapsing – thetotalallocationmustequal100%andmustbeinwhole death benefit nomina tion will continue to apply until binding , numbers tionormakeanewnomina tion. nomina yourevokeanexisting t and/or your – you can only nomina te a dependan In certain circumstanc es a non-lapsing binding death benefit estate/legal personal representative (LPR), nomina nomina tionwillbetreatedasanon-binding tion.Please anddatedinthepresence tionmustbesigned – yournomina seebelowforinformationonwhatmakesanon-lapsing binding who are over age 18 and who are not of two witnesses tion tion valid and when your nomina nomina death benefit will be treated as a non-binding nomina tion. . ted beneficiaries nomina death Itisimportantthatyoureviewyournon-lapsing binding a power of under You can nomina te a person or persons toensurethatitisstillappropriate tionregularly nomina benefit attorney to operate your account. To do so, send us a certified for you. copy of a valid power of attorney together with a declaration thattheappoin tmenthasnotbeenrevoked.Thelegislationin binding You must be aged 18 or over to make a non-lapsing relation to what is required is different for each state and tion. death benefit nomina at further information can be found online nomina Foranon-lapsing binding deathbenefit tiontobevalid: . australia.gov.au/content/powers-of-attorney – thetotalallocationmustequal100%andmustbeinwhole t Itiscritical toexplicitly stateinthepowerofattorneydocumen numbers youhavenomina tedasyourattorney thatyouallowtheperson te a dependan t and/or your – you can only nomina te themselv es as a beneficiar y of your to nomina estate/legal personal representative (LPR) superannuationifthisisyourdesire.Ifitisnotexplicitly stated es as a te themselv ted attorney can nomina that the appoin anddatedinthepresence – yournomina tionmustbesigned beneficiar y the Trustee will not implemen t any direction from who are over age 18 and who are not of two witnesses the attorney to do so. . nomina ted beneficiaries we receive your nomina When tion we will not check if your tion we will not check if your When we receive your nomina nomina ts or your legal are your dependan ted beneficiaries are your dependan ted beneficiaries nomina ts or your legal personal representative. representative. personal tically tion as Accordingly, we will automa treat your nomina treat your nomina tion as Accordingly, we will automa tically tion if: though it was a non-binding nomina though tion if: nomina it was a non-binding – you and/or your witnesses do not sign or complete the – you and/or your witnesses do not sign or complete the nomina binding tion correctly, binding nomina tion correctly – three years have passed from the date you signed the – any nomina ted beneficiar y dies before you die form (you will need to tion of beneficiaries nomina y (other ted beneficiar – any nomina than the legal personal tion every three years if you want reconfirm your nomina t at the date of representative (LPR) ) is not a dependan nomina to continue to have a binding tion), your death ted beneficiar y dies before you die, – any nomina – your relationship changes after signing the binding ted beneficiar y (other than the LPR) is not a – any nomina nomina tion of beneficiaries form , eg you get married t at the date of your death, or dependan (unless ted de facto), enter into a you marry your nomina – your relationship changes after signing the binding , get divorced or your de facto de facto relationship nomina you marry (unless tion form eg you get married relationship ends. , teddefacto),enterintoadefactorelationship yournomina death benefit If you revoke your non-lapsing binding get divorced or your de facto relationship ends. nomina tion in writing without making another nomina tion, tionwithout Ifyourevokeyourbinding another making nomina then we must pay your death benefit in accordance with the inaccordance nomina tion,thenwemustpayyourdeathbenefit tion option. no nomina tion option. with the no nomina Non-binding tion (preferred) nomina If you nomina te your legal personal representative as your beneficiar makesurethatyouhaveavalidandcurrent y,please tion,theTrustee will (orpreferred)nomina Withanon-binding will. Payment to a legal personal representative may also take tionprovidedbyyoubuthasdiscretionto thenomina consider longer to effect as it is necessary for a Grant of Probate or ts or LPR in to one or more dependan pay your death benefit ation to be issued can before the benefit Letters of Administr proportions that the Trustee t or . If no dependan determines be paid. must a reasonable time, the Trustee ted within LPR is appoin note that by directing payment to your legal You should or persons pay your death benefit to any other person in to representative you may be exposing the benefit personal proportions which the Trustee determines . claims of your estate. by any creditors A non-binding nomina tion will continue to apply until you cancel an existing nomina tion or make a new one. 10

11 ₆ Reversionar y pension . What about taxation ? that your benefit You can request continue after your death Taxation information for super or your child as a reversionar y by nomina ting your spouse pensioner . tax Contributions When you die, the nomina will continue to receive ted person e and (including contributions All concessional salary sacrific theincomepaymentsuntilthebenefit Ifyouhave isexhausted. you forwhich contributions SGcontributions andanypersonal , they y pensioner as the reversionar nomina ted your spouse claim a tax deduction) paid to superannuation are currently mustbeyourspouse ted atthetimeofyourdeath.Ifthenomina taxed at a rate of 15%. person isnotadependan tatthetimeofyourdeath,theTrustee howthebenefit willuseitsdiscretiontodetermine willbepaid. This amoun t of tax you pay may be reduced by deductions for t andfees.Thisissubjec itemssuchaslifeinsurancepremiums Thetaxationofadeathbenefit paidasareversionar ypension to the provision of your tax file number (TFN). y and reversionar on the age of the primar will depend y beneficiar y: Tax will be deducted from your account at least quarterly. if the primar y beneficiar y was aged 60 or over at the time – with a combined For an individual income and concessional y y,thenpaymentstothereversionar ofdeathoftheprimar contributions over $250,000 pa, an additional 15% tax is beneficiar y will be tax exempt. payable to the ATO on that portion of concessional ywasunderage60atthetimeof ybeneficiar iftheprimar – contributions exceeding the $250,000 (limited threshold to will continue to be taxed at the death, the pension cap). the concessional contributions reversionar y’s marginal tax rate (less any tax y beneficiar tandapplicable taxoffset)unless,oruntil,the freeamoun Contribution limits y is aged 60 or over, in which reversionar y beneficiar case made into a superannuation fund receive All contributions it will be tax exempt. certain tax concessions . There are limits (referred to as death benefits will be able to be paid as a pension to a – contributions caps) on the amoun t of contributions you can t child, although dependan when the child turns 25 they year that qualify for these concessions make in a financial . will be paid as a lump sum (tax free) unless the child was andnon-concessional capsapplytoconcessional Contributions within permanen tlydisabled themeaning Disability ofthe year. contributions received by us in a financial Services Act 1986 , in which case they may continue to receive the pension. cap contributions Non-concessional The amoun y beneficiar y counts t paid to the reversionar – e cap. y’s transfer balanc towards the beneficiar contribution Theannual capis$100,000 per non-concessional year, and will increase in line with the indexation of the No nomina tion concessional contributions cap. yearifyou capwillbenilforafinancial Yournon-concessional tion is made or you cancel your In the event that no nomina have a total superannuation balanc e greater than or equal to existing nomina tionanddonotmakeanewnomina tion,your at in 2018–19) e cap ($1.6 million the general transfer balanc to one or will be paid at the discretion of the Trustee benefit the end of 30 June of the previous financial year. ts and/or your legal personal more of your dependan representative. 65 years, you may make non-concessional If you are under non-concessional contributions ofuptothreetimestheannual Iftherearenodependan tsorlegalpersonal representativethe contributions cap in a single year by bringing forward your Trustee may pay the benefit suitable person. to another non-concessional contributions cap for a two or three-year tion you should nomina If you do not have a death benefit period. The non-concessional t that cap amoun contributions consider a will. making you can bring forward, and whether you have a two or andupdate tionregularly Itisimportanttoreviewyournomina orward period, three-year bring-f on your total will depend it if your circumstanc es change. superannuation balanc e at the end of 30 June of the previous financial year.Formoreinformationonthebringforwardperiod cap contributions non-concessional and the maximum upon death Invested assets applicable e toyoubasedonyourtotalsuperannuationbalanc notifica Uponreceiptofwritten tionofthemember’ sdeath,all at 30 June 2018 contact your financial or refer to adviser assets willremain investedaspertheinvestmen tinstruc tions ato.gov.au. tions are tive instruc until alterna of the deceased member or If you have triggered the bring-f orward period in 2015–16 y/ies or legal personal received by a valid beneficiar 2016–17 but you have not fully used your bring-f orward (if t and any insurance benefits representative. This amoun arrangements will t before 1 July 2017, transitional amoun applicable) will then be made available to the Trustee for orward tofbring-f thatthemaximum apply.Thismeans amoun tobeneficiaries investedintermdeposits .Members distribution caps.For contribution available willreflectthereducedannual will continue to be invested based on terms associa ted with ts bring forward amoun more information on the maximum bythe theassetuntilmaturitydate,unless otherwisenotified . contact your financial adviser or refer to ato.gov.au y/ies. beneficiar ation and remuner t instruc Investmen tions, adviser authorities online Any existing investmen t instruc savings plans, tions, regular remuner payments,adviser authorities ationandonline pension tion of the may also be cancelled upon receipt of notifica s death. member’ 11

12 Concessional contributions cap Taxation information for pension indexedannually) applies to Acapof$25,000 ayear(normally Tax payable when starting a pension concessional contributions . From 1 July 2019 you may be able tostartapension, yourollyoursuperannuationbenefit When toutiliseunused capamoun contributions tsfrom concessional you won't have to pay any lump sum tax on the rollover the previous four financial years starting from 1 July 2018 to amoun thatfromthestart,youwillhavemoreof t.Thismeans d cap. To above the standar allow you to make contributions for your and your future. If you have an your money working , your total superannuation balanc be eligible e at 30 June of t, we deduct 15% t untaxed of the taxable componen elemen yearmustbelessthan$500,000. Excess thepreviousfinancial tax at the time you rollover this componen contributions t. concessional will be automa contributions in included tically your assessable income and taxed at your marginal rate (plus Tax on pension payments aged under 60 an interest e levy less a 15% tax offset). In addition Medicar charge will be levied by the ATO. Excess concessional 60, we are generally required to deduct If you are aged under contributions arealsocountedtowardsyournon-concessional payments. Accordingly, any some tax from your pension cap. contributions difference between your calcula t and the amoun ted pension t to change. Please ato.gov.au These caps are subjec refer to amoun t you receive represents PAYG tax that has been for up-to-da te information. withheld. isnotrequiredtomonitor Please thecombined notetheTrustee ts—the taxable payments have two componen Your pension value of multiple contributions made into your account. It is t. The taxable t and the tax-free componen componen tomonitor thecontributions yourresponsibility madeintoyour incomeandistaxed componen tformspartofyourassessable account, and any other accounts you may hold in any other e levy if applicable). at your marginal tax rate (plus Medicar superfunds,toensureyoudon’texceedthecontributions caps. However, you may be entitled to a tax offset on your income For more information on the contributions caps contact your payments relating to the taxable componen t from your plan financial adviser . ato.gov.au or refer to t if you are under of up to 15% of the taxable amoun the age your preservation age. of 60 but have reached Tax deductions Your financial adviser can assist you to calcula te the likely tax es. payable in your circumstanc (including Ifyouremployermakesacontribution onyourbehalf econtributions salarysacrific )then,generally,thatcontribution Tax on pension payments aged 60 and over is fully tax deductible to the employer. You may be able to claim a tax deduction for your personal benefits aged60orover,lump-sum Forpensioners andincome contributions youmakefrom (i.e.thosecontributions member thetransferbalanc ecap)aretax-free. streampayments(under your after-tax income) if you are under age 75 at the time of Tax on investmen t earnings made apply on contributions Limits the contribution. making by you or on your behalf. For more information, contact your t are currently exempt investmen on your pension Earnings adviser . financial ato.gov.au or visit fromtax,unless allocated you'reinvestedinanon-commutable andhavenotsatisfied pension ofrelease condition aprescribed t earnings Tax on investmen are taxed at 15% and. Capital gains on in which case earnings on your superannuation investmen Earnings t are taxed at a that are held for at least 12 months are taxed at some assets rate generally lower than other forms of savings. The rate is aneffectiverateofupto10%,otherwisetheyaretaxedat15%. 15%.Capitalgainsonsomeassets thatareheldforatleast12 youwillbetransitioned criteria, Ifyoumeetanyofthefollowing months are taxed at an effective rate of up to 10%. will be and earnings in your pension to an allocated pension Tax may be reduced by deductions for items such as life ewillbeassessed taxfreeandthebalanc againstyourtransfer insurance premiums credits and tax offsets. , franking balanc e cap; – when you reach age 65 or No TFN contribution rules – notifyusthatyouhaveretiredafterreaching preservation contributions Non-concessional age or ted or tly incapacita – are permanen The Trustee is required by law to refund any non-concessional condition medical – are suffering from a terminal received if a TFN has not been provided within contributions 30 days. The Trustee ation is entitled to deduct an administr Taxmaybereduced bydeductionsforitemssuchasinsurance fee and any transaction costs and premiums that have been credits and tax offsets. and by franking premiums paid in relation to insurance cover for a specific period. Concessional contributions Youdonotcommit anoffenceifyouchoose nottoprovidethe Trustee with your TFN, and you are not otherwise required by lawtoprovideyourTFN.However,ifyoufailtodoso,anoTFN to your concessional tax rate of 32% applies contributions . It applies d to the standar in addition contributions tax at 15% and there is no reduction to the contributions that you might pay. t for insurance premiums taxable amoun 12

13 The following is a summar y of the different componen ts and Additional taxation information how they are taxed when paid as a lump sum as at the issue Untaxed elemen ts information booklet date of this additional . Taxation t Componen If a rollover or transfer is received for an account that includes willdeduct15%taxfromthe t,theTrustee anuntaxedelemen Taxable If you are under preservation age, all of this t. untaxed elemen t, converting it to a taxed elemen componen t – t to tax at 22% (including t is subjec amoun t taxed elemen e levy). Medicar Lump-sum benefits If you are between preservation age and 59, an will be amoun t up to the low rate cap threshold benefits are taxed depends on your age The way lump-sum t over this will be subjec t tax free and the amoun and the componen ts of your lump sum. Medicar e levy). to tax at 17% (including age 60, the taxable componen t is under For members If you are aged 60 years or over, any determined by factors such as the source of the contributions paidtoyouaretax-free. superannuationbenefits for the a tax deduction has been claimed and whether Taxable trolled t–untaxedelemen Anytaxablecomponen contribution. If tax is payable on your lump sum, the Trustee componen t – over to this Fund will be subjec t to contributions tax from your benefit is required to withhold . You will be t untaxedelemen taxuponreceiptandwillthenconverttoataxable y – superannuation provided with a PAYG payment summar t. t – taxed elemen componen lump sum to include in your next tax return. All benefits paid Other tax rates apply if a taxable componen t – from your account are paid from a taxed source. untaxed elemen t is paid to you in the form of a paid aged 60 and over, superannuation benefits For members lump sum or a pension. As this Fund is a taxed intheformofasuperannuation fromataxedsource,whether fund, these tax rates will not be relevant to you payments, are tax free and are lump-sum or pension benefit when your superannuation benefits are paid to not required to be declared on your tax return. you. they apply are The actual tax rates and the levels at which Tax-free Not taxed determined by the ATO and can change each year. As you may componen t ofyearsthismaterial awalforanumber awithdr notbemaking check is provided for general information only and you should Tax on death benefits , the Trustee with your financial adviser or the ATO at the time awal. Further information on current rates you make a withdr orincomestreampaidto Intheeventofyourdeath,apension ato.gov.au from is available . and thresholds your dependan ts may also be entitled to tax concessions yofhowyourlump-sum isasummar Thefollowing awal withdr theirageandyour depending onanumber offactors,including paymentsaretaxeddepending onyourageatthe andpension age at the date of your death. For more information speak to time of payment. . adviser your financial Superannuation income Superannuationlumpsum Age Tax refunds stream Taxpaymentsmaybedeductedfromyouraccountthroughout Aged 60 and Tax-free (not assessable , Tax-free (not assessable , the year. Tax refunds may also be paid back into your account not exempt income) not exempt income) above inyour Anytaxrefunds paidintoyouraccountarenotincluded Marginal tax rates Preservation 0% tax up to the low rate contribution threshold. (i) age to 59 (including Medicar e levy) cap and 15% tax offset may Any amoun t of the taxed apply to the taxed elemen t of the taxable elemen t of the taxable tabovelowrate componen t. componen t to 17% tax cap is subjec Medicar (including e levy). t of the The taxed elemen Marginal tax rates Below taxable componen t is (including preservation Medicar e levy) apply to the taxed t to 22% tax subjec age Medicar e levy). (including elemen t of the taxable componen t (no tax (ii) offset). Asthe (i) Lowratecapof$205,000 in2018/19 (indexedannually). low rate cap is applied at an account level, additional tax may be payable by you when you lodge your income tax return. A death or disability (ii) superannuation income stream also receives a 15% offset. 13

14 If your interest is split, then your spouse’ s interest may be ₇ else do you need to know? . What Rollover Fund. As the laws transferred to the AMP Eligible your account on separation are complex, regarding splitting ed InvestinginGenerationsSuperandPension compar that you seek legal advice. we recommend to investing directly of member information to the ATO Supply Key differences between investing directly and investing include: in Generations Personal Super and Personal Pension Lost superannuation member accounts and unclaimed are currently register superannuation contributions ed with Generations Personal Super and t Direct investmen the ATO. With your consent we may provide superannuation Pension Personal accountdetails informationtotheATO,including and member You will have access to a range of You generally require large sums TFNs, for the purposes of searching for lost superannuation investmen wholesale ts that of money to invest in each tch system. accounts via the ATO’s SuperMa generally have lower fees than wholesale investmen t. retail investmen ts. The ATO will check the information supplied by us against its register ,SGandsuperannuationholding account lostmembers You will receive a separate report You will receive comprehensiv e, reserverecordsinordertoidentifybenefits toFund belonging for each investmen t. consolida ted reporting. members . .Iffundsareidentified,wewillnotifyyouinwriting Youwillhavedirectownership of This service is provided free of charge and will help you better ts and will be your investmen NMMTLimited isthelegalowner manag e your superannuation for your retirement. oftheinvestmen tsandNMSuper ted eligible to exercise all associa of your rights (such as voting or is the beneficial owner accounts lostmember Paymentofsmallandinsoluble ts. participating in corporate investmen actions). to the ATO You may receive regular You won’t receive any We are required to transfer to the ATO any lost member communica communica tionsfrominvestmen t t tionsfrominvestmen accounts: er. manag manag er. es of less than $6,000, – with balanc Your cooling off rights may be off rights may be Your cooling – any accounts which of 12 have been inactive for a period exercised directly against the exercised directly against the months, and t manag er. Trustee. investmen – have insufficient records to identify the owner of the You have access to Generations You have access to investmen t account. Personal Super and Personal manag ers’ complain ts resolution complain ts resolution Pension from the ATO at any Any funds transferred can be reclaimed arrangements. arrangements. time. Further information on how to lodge a claim is available . ato.gov.au from Cash account The Trust Deed become t options investmen In the event that your chosen the value of your cash account may fall into negative illiquid, Pension The Generations Personal plan is Super and Personal toselldowntheassets funds ofyourilliquid duetotheinability partoftheFundandisgovernedbytheFund'sTrustDeed.The to pay the costs incurred on your account, such as fees and Trustee must operate the Fund in accordance with the insurance. of the trust deed and the law relating to provisions superannuation. To protect the value of your cash account from falling further into negative and to reduce the amoun t of interest you would entitlemen ts are determined by the provisions of Members’ need to pay on your cash account balanc e, we may invoke the Trust Deed and the laws relating to superannuation. The , certainrestrictionsonyouraccount.Theserestrictionsinclude investmen on behalf ts of the Fund are held by the Trustee of pension to,reducing butarenotlimited paymentsandcertain t has an entitlemen of the Fund, and no member all members fees, ceasing withdr awals and cancelling your insurance. to any individual the Fund. In administering asset within the is obliged to act in the interests of the Fund, the Trustee Family law and superannuation of the Fund as a whole. While it has the power to members amend theprovisions cannot do oftheTrustDeed,theTrustee Ifyouseparateordivorcefromyourspouse ,thenyourinterest entitlemen so in a way that is adverse to members’ ts without inyoursupermaybesplit.Currently,inallstatesandterritories relating their consent. The Trust Deed has special provisions (apart from Western Australia), an interest in a super account tohowandwhentheFundcanbewoundupandhowmembers (including may also be split if a de facto relationship a same are to be treated if this occurs. sexrelationship) Youraccountcanalsobeflagged breaksdown. AcopyoftheTrustDeedisavailable uponrequest bycontacting aspartofaseparationordivorce–thispreventsusfrommaking .com.au or by calling [email protected] the North Service Centre at mosttypesofpayments.Thelawsetsdownhowsuperinterests 1800 667 841. orflagging willbevaluedandsplitforthesepurposes .Splitting t between the separating or can be achieved by agreemen divorcing couple or by a court order. If your Generations Personal Super and Personal Pension account is split, then your spouse will not automa tically have Pension Super and Personal account a Generations Personal of their own. Your spouse can apply to have a personal super super fund account with AMP, transfer the benefit to another ofrelease. ortakethebenefit incashiftheysatisfyacondition 14

15 Relationship between the Trustee and some in which the Fund will invest companies ed investmen The Trustee invests in a wide range of manag t schemes (investmen t funds). The entities responsible for a t funds are: number of these investmen (AMPCFM),ABN – AMPCapitalFundsManag ementLimited 15 159 557 721, AFSL No. 426455, – ipacassetmanag ementlimited (ipac)ABN22003257225, AFS Licence No. 234655, and FundsManag – NationalMutual (NMFM)ABN ementLimited 32 006 787 720, AFS Licence No. 234652. of the AMP group. AMPCFM, ipac and NMFM are members t funds, please refer to the For a full list of these investmen Generationsinvestmen toptions productdisclosur estatemen t. One or more of these entities may provide investmen t manag ement services to the investmen t funds including the AMPCapitalWholesale CashFundandAMPCapitalWholesale Cash Manag ement Trust. The Trustee has appoin ted NMMT Ltd ABN 42 058 835 573, AFS Licence No. 234653 to provide services in relation to the selecting the range of investmen Fund. This includes t options made available and managing the cash account. The Trustee hasappoin tedAMPLifeastheadministr atoroftheFund.Both NMMTandAMPLifereceiveafeefortheservicestheyprovide. advises The Trustee the law, where the Trustee that, under investsmoneyoftheFunditmustdealwiththeotherpartyto the transaction at arm’s length or on arm’s length terms. Relationship between the Trustee and some service providers TheTrustee reservestherighttochangetheCustodian without prior notice to members . Super members have the option to take Generations Personal ABN up insurance cover. The insurer is AMP Life Limited 84079300379. Insurance cover is provided under insurance policies held by the Trustee. The Trustee does not deal with service providers to the Fund who are associa tes of the Trustee more favourably than it would deal with any other independen t service providers. 15

16 Important information Information regarding Generations Super (USI NMM0008A (USI NMM0007A U) is contained in the Product Disclosur e Statemen t U) and Pension otherdocumen ts InformationBooklet andtheGenerationsinvestmen toptions productdisclosur estatemen t.This (PDS)and being,theAdditional Information Booklet be read in conjunc tion with the Generations Personal Super and Personal Pension t is the Additional , and should documen PDS Part A. to members of Generations Personal Super and Personal Pension through insurance arranged with AMP Life Optional insurance cover is available refer to the AMP Elevate insurance PDS. Limited ABN 84 079 300 378 AFSL No 233 671. Please objectives,financial situationorneeds. Youshould Theinformationinthisdocumen tisofageneralnatureonlyandisnotbasedonyourpersonal consider the information in this documen t is appropriate for you in accordance with your objectives, financial situation and needs. You whether read the PDS and the other documen ts before making any decision about whether to acquire or continue to hold your account. should Changes to the PDS InformationinthePDSandtheotherdocumen isnotmaterially adverse tsmaychangefromtimetotime. Wemayhaveupdatedinformationwhich a PDS Update. You can obtain a PDS Update by: by issuing .com.au/generations – visiting northonline [email protected] .com.au or 1800 667 841 – contacting the North Service Centre to request a free paper copy of the PDS Update at adviser . your financial – asking NM Super and other providers oftheWealthPersonal SuperannuationandPension Fundandisreferredtoas NMSuper NMSuperistheTrustee Trustee , we or us inthisAdditional , Information Booklet . y in the AMP group of companies (AMP group) or any of the investmen t manag No other compan t options: ers of the investmen – is responsible for any statemen ts or representations made in the PDS or other documen ts, – guarantees the performanc e of NM Super’s obligations to members nor assumes any liability to members in connection with Generations Personal Super and Personal . Pension in the PDS or the Generations investmen t options e statemen t, investmen ts in the investmen t Except as expressly disclosed product disclosur or liabilities of NM Super, AMP Bank Limited ABN 15 081 596 009 AFSL No 234 517 (AMP Bank), any other member of the options are not deposits t manag ers. NM Super is not a bank. AMP Bank does not stand behind NM Super. The investmen AMP group or any of the investmen are t options subjec t risks, which could include delays in repayment and loss of income and capital invested. t to investmen receivefeesandchargesinrelationtoGenerationsPersonal AMPcompanies Pension outlined inthePDS. AMPemployeesand SuperandPersonal directors receive salaries and / benefits from the AMP group. This offer is available only to persons receiving (including electronically) the PDS within Australia. We cannot accept cash or applica tions signed and mailed from outside must always be paid in Australian dollars . We may accept or refuse (without reason) any applica tion. Australia. Monies Super and Personal with, in case of an increase in fees, at least 30 We reserve the right to change the features of Generations Personal Pension after the change occurs. days’ notice, otherwise notice of material changes will be provided before or as soon as practicable t is issued This documen y Limited ABN 31 008 428 322 AFSL No 234 654, the trustee of the Wealth Personal by NM Superannuation Proprietar Superannuation and Pension Fund ABN 92 381 911 598. Contact us IfyouwouldliketoknowmoreabouthowGenerationsPersonal SuperandPersonal Pension canhelpyou,please visitnorthonline .com.au/generations, or contact one of the following: phone 1800 667 841 web generations .com.au/ northonline email [email protected] .com.au mail North Service Centre GPO Box 2915 MELBOURNE VIC 3001 05/19 08902 16

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