STATE SUPER ALLOCATED PENSION FUND
Product Disclosure Statement Issued 1 July 2014
Contents 1. A bout the State Super Allocated Pension Fund 2. How super in retirement works
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Information regarding the Allocated Pension Fund USI SSI0009AU is contained in this Product Disclosure Statement (PDS) and the following Booklets:
3. B enefits of investing with the State Super Allocated Pension Fund
◆ Personal Retirement Plan and Allocated Pension Fund Fee Booklet (PRP & APF Fee Booklet);
4. Risks of super
◆ Investment Booklet – Fixed Fund; and
◆ Retirement Fund Investment Booklet; ◆ Retirement Fund Additional Information Booklet
5. How we invest your money 6. Fees and costs 7. How super in retirement is taxed 8. How to open an account 9. Other information
Contact details
This PDS provides a summary of significant information. It includes a number of references marked with a ! to important information contained in a Booklet, each of which forms part of the PDS. You should consider this important information before making a decision about the product. The information in this document is general information only and doesn’t take into account your financial situation or needs. You may wish to consult your financial planner to obtain financial advice that is tailored to your personal circumstances. The information in this PDS and the Booklets may change from time to time. We may update information which is not materially adverse to you on ssfs.com.au. A paper copy can also be obtained without charge from your financial planner or by calling 1800 620 305.
1800 620 305
We may change any of the matters described in the PDS and the Booklets from time to time. We will notify you of material or significant changes which may affect you before or after the change has taken place in accordance with the law.
GPO Box 5336, SYDNEY NSW 2001
The Allocated Pension Fund is available only to persons in Australia.
If you have any questions or would like more information about the State Super Allocated Pension Fund
www.ssfs.com.au Issued by State Super Financial Services Australia Limited ABN 86 003 742 756, AFS Licence No 238430. Trustee of the State Super Retirement Fund, ABN 86 664 654 341
1. About the State Super Allocated Pension Fund We maintain a website so you can keep up to date on important matters relating to the Allocated Pension Fund. We regularly update information on the website. You can find information on trustee and executive remuneration for SSFS, as well as other important information and documents about the Allocated Pension Fund at ssfs.com.au/ap.
Brought to you by State Super Financial Services Australia Limited (SSFS) SSFS is an integrated financial planning firm that provides financial planning funds management and implementation solutions. Services may be provided to current and former public sector employees (from all states, territories and federal and local government) and their family members.
State Super Allocated Pension Fund (Allocated Pension Fund) The Allocated Pension Fund is a superannuation product offered within the Allocated Pension and Term Allocated Pension Division of the State Super Retirement Fund (a complying superannuation fund) and is designed for investors who wish to: ◆ generate an income stream tax efficiently; and ◆ retain control over their financial strategy and invested capital. In the Allocated Pension Fund, you can choose to invest in one or more investment options (called Funds), each having a separate investment strategy. There are currently eleven Funds offered in the Allocated Pension Fund. The Allocated Pension Fund offers both an ordinary Pension and a Pre-Retirement Pension. A Pre-Retirement Pension essentially has the same features as an ordinary Pension except that the ability to withdraw a lump sum and the maximum amount of the pension payments are restricted. The Government sets limits on the minimum amounts you can receive as income payments each year from both Pensions and Pre-Retirement Pensions. Both Pensions and Pre-Retirement Pensions invest superannuation savings to pay you an income stream each year until the total balance is exhausted.
2. How super in retirement works You should read the important information about ‘how super in retirement works’ and ‘how to switch and withdraw’ before making a decision. Go to the Retirement Fund Additional Information Booklet available at ssfs.com.au/ ap. The material relating to ‘how super in retirement works’ and ‘how to switch and withdraw’ may change between the time when you read this Statement and the day when you acquire the product.
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About your retirement Superannuation (super) is a tax-effective way to save for your retirement which is, in part, compulsory. Tax concessions and other government benefits generally make super one of the best long-term investment vehicles. The State Super Allocated Pension Fund is designed for retirees, semi-retired people or those about to retire who are looking to:
◆ rollover their super monies into a superannuation fund ◆ take advantage of the pension tax concessions, or ◆ receive a regular income stream from their superannuation monies.
Contributions The ordinary Allocated Pension only accepts rollovers from other superannuation products (including the State Super Personal Retirement Plan) that consist solely of unrestricted non-preserved amounts.
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
You can start an ordinary Allocated Pension if you have satisfied a condition of release. If you are over your preservation age (between ages 55 and 60, depending on your date of birth) but less than age 65 and you have not yet retired, you can start a Pre Retirement Allocated Pension with any combination of unrestricted nonpreserved amounts and/or restricted non-preserved amounts and/or preserved amounts. You can only open your Allocated Pension (including a Pre-Retirement Allocated Pension) with a single amount because superannuation law prohibits any further contributions or rollovers being made to an existing pension. If you have a Pre-Retirement Allocated Pension, then once you reach age 65, or otherwise satisfy a condition of release prescribed by superannuation law, your Pre-Retirement Allocated Pension automatically becomes an ordinary Allocated Pension.
Withdrawals You can choose the amount of your pension payments. However, the amount you choose must be at least equal to the minimum annual payment amount for that year, and, if applicable, must not exceed the maximum annual payment amount for that year (for Pre-Retirement Allocated Pensions only), which are fixed percentages of your account balance. You can withdraw as a lump sum amounts of $5,000 or more from the unrestricted non-preserved amount of your account balance. Depending on your personal circumstances, tax may be deducted prior to payment of the lump sum to you.
3. B enefits of investing with the Allocated Pension Fund By investing in the State Super Allocated Pension Fund, you will gain the following benefits:
◆ Income and capital gains earnings on funds held within the superannuation pension environment are tax exempt;
◆ Your Allocated Pension Fund provides you with a platform from which your future cash flow and lump sum requirements can be met in a tax effective manner;
◆ Favourable income test treatment as part of the income may not be assessed by Centrelink;
◆ Flexibility to vary the level of pension payments received from the fund (within legislatively determined ranges);
◆ Competitive ongoing fees; ◆ No need to separately pay for further advice on your investments with State Super Financial Services. This is included as part of the ongoing product fees;
◆ Ongoing reviews provided by State Super Financial Services to monitor your financial strategy and help ensure your retirement plans remain on track;
◆ Continued access to financial planners, with an in depth knowledge of your public sector scheme and issues common to public sector employees;
◆ Access to a diversified range of investment options, allowing you to construct a portfolio in line with your attitude and tolerance to risk;
◆ Non-lapsing death benefit nominations and reversionary nominations to provide certainty that your superannuation benefits are distributed to your nominated beneficiaries; and
◆ Anti-detriment payments may be payable to eligible beneficiaries.
You should read the important information about ‘Transaction processing – Unitised funds’, ‘Reporting’ and ‘Death benefits’ before making a decision. Go to the Retirement Fund Additional Information Booklet available at ssfs.com.au/ ap. The material relating to ‘Transaction processing – Unitised funds’, ‘Reporting’ and ‘Death benefits’ may change between the time when you read this Statement and the day when you acquire the product.
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
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4. Risks of super
You should read the important information about the ‘risks of super’ and ‘risks of super – Fixed Funds’ before making a decision. Go to the Retirement Fund Investment Booklet and Investment Booklet - Fixed Fund available at ssfs.com.au/ap. The material relating to the ‘risks of super’ and ‘risks of super – Fixed Funds’ may change between the time when you read this Statement and the day when you acquire the product.
All investments involve some level of risk. Super funds may invest in a range of asset classes – for example, cash, bonds, property and equities – that have different levels of risk. The Allocated Pension Fund offers a range of investment options, reflecting different weightings of these asset classes. The likely investment return, and the level of risk of losing money, is different for each investment option depending on the underlying mix of assets. In general terms, the higher the potential return of an investment over the longer term, the greater the risk of loss in the shorter term.
Investment Risk Some of the investment risks you may be exposed to include:
◆ market risk; ◆ asset allocation risk; ◆ interest rate risk;
◆ currency risk; ◆ manager selection risk; ◆ issuer concentration risk.
Other Risks Some of the other risks you may be exposed to include:
◆ fund risk; ◆ custodial risk; ◆ compliance risk;
◆ legislative risk; ◆ counterparty risk.
When considering your investment in super, it is important to understand that:
◆ the value of investment options will go up and down; ◆ returns are not guaranteed and you may lose some of your money; ◆ your retirement savings may not adequately provide for your retirement; ◆ the level of returns will vary and future returns may differ from past returns; ◆ laws affecting your retirement savings may change; ◆ investment options may be closed, varied or terminated, or investment managers
You should read the important information on ‘how we invest your money’, ‘investment options’ and the Fixed Funds before making a decision. Go to the Retirement Fund Investment Booklet and the Investment Booklet - Fixed Fund available at ssfs.com.au/ap. The material relating to ‘how we invest your money’, ‘investment options’ and the Fixed Funds may change between the time when you read this Statement and the day when you acquire the product.
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replaced from time to time. We will notify you of material or significant changes to the investment options in accordance with the law, which may be before or after the change; and
◆ processing of transactions may be delayed in some circumstances, for example, when an investment manager delays issuing unit prices The appropriate level of risk for you will vary depending on a range of factors including your age, investment time frame, where other parts of your wealth are invested, and your risk tolerance. Your financial planner can help you understand investment risk and help you design an investment strategy that is right for you.
5. How we invest your money The Allocated Pension Fund has a range of unitised and non-unitised investment options (Funds). Each one has a different level of risk and potential level of returns. The unitised Funds are: ◆ the Cash Fund
◆ the Moderate Fund
◆ the Growth Plus Fund
◆ the Fixed Interest Fund
◆ the Balanced Fund
◆ the Australian Equities Fund
◆ the Capital Stable Fund
◆ the Growth Fund
◆ the International Equities Fund
The non-unitised Funds are: ◆ the Fixed Term Fund ◆ the Fixed Payment Fund
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
You should consider the likely investment return, risk and your investment time frame when choosing which option to invest in. You can choose to invest in one option or a combination of different investment options. If your application form does not specify the Fund(s) for investment, we will contact you to obtain your investment allocation. If we are unable to contact you we may not be able to accept your application.
Investment details for the Balanced Fund For illustrative purposes, we have set out details of the Balanced Fund below. See the Retirement Fund Investment Booklet and the Investment Booklet – Fixed Fund for details on all the Funds offered in the Allocated Pension Fund.
OVERALL OBJECTIVE
To invest in a broad range of asset classes which have the potential to achieve capital growth over the longer term Capital gains can be expected to be achieved, but there is also the risk of capital loss.
RETURN OBJECTIVE1
CPI + 3.75% net of investment fees and taxes over rolling five year periods
STRATEGIC ASSET ALLOCATION
Defensive assets
Target 40%
Range 30% to 50%
Cash & Enhanced Cash Australian fixed interest International fixed interest*
10% 20% 10%
0% to 20% 10% to 30% 5% to 15%
Growth assets Property** Infrastructure** Global high yield* Australian equities International equities** Alternatives**
60% 8.5% 4% 3% 22% 20% 2.5%
50% to 70% 0% to 15% 0% to 10% 0% to 6% 10% to 30% 10% to 30% 0% to 10%
* Typically 100% hedged to the AUD ** 0 to 100% hedged to the AUD
INVESTMENT STRATEGY
Primarily invests through discrete investment trusts in a portfolio of Australian and overseas investments including (but not limited to) Australian cash, fixed interest securities, property, unit trusts, listed shares and alternative assets. Investments may include currency, futures and options contracts
TYPE OF INVESTOR THIS OPTION IS INTENDED TO BE SUITABLE FOR
This option is designed to suit investors who are seeking higher returns and are willing to accept a higher level of risk.
MINIMUM SUGGESTED INVESTMENT TIME FRAME
5-6 years or longer
STANDARD RISK MEASURE
4 - Medium
1. The return objective is not a guarantee of performance. The actual return may vary up or down from the return objective stated.
The Standard Risk Measure is a guide on the expected number of negative annual returns over any 20 year period. It does not consider all forms of investment risk and does not take into account tax. You should be comfortable with the potential losses of your chosen investment options. For more details on the Standard Risk Measure please refer to the Retirement Fund Investment Booklet. You can transfer (switch) your money into other Funds at any time, or ask that future contributions be paid into a different Fund. No fee is charged for switching.
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
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We regularly monitor the investment performance of each Fund and the investment mandates of the investment managers. We may change investment managers from time to time without notice to you.
You should read the important information about ‘fees and other costs’, before making a decision. Go to the PRP & AP Fee Booklet at ssfs. com.au/ap. The material relating to ‘fees and other costs, may change between the time when you read this Statement and the day when you acquire the product.
We may vary a Fund’s strategic asset allocation (target and/or range) from time to time, consistent with the investment objective of each Fund. We may also change the investment objective or investment strategy of any of the Funds, introduce new Funds or close or terminate existing Funds. We will notify you of material or significant changes to the investment options in accordance with the law, which may be before or after the change.
6. Fees and costs DID YOU KNOW? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. Your employer may be able to negotiate to pay lower administration fees*. Ask the fund or your financial adviser.
TO FIND OUT MORE If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www.moneysmart.gov.au) has a superannuation fee calculator to help you check out different fee options. *We are required by law to include this statement however it is not applicable as we do not charge administration fees nor are we an employer sponsored fund. 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 and advice fees for personal advice, may also be charged, but these will depend on the nature of the activity or advice chosen by you. Taxes are set out in another part of this document. 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 each unitised Fund and each non-unitised Fund offered by the superannuation entity are set out below and in the PRP & AP Fee Booklet.
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Visit our website www.ssfs.com.au or call 1800 620 305 for further information
Fees and other cost table State Super Allocated Pension Fund TYPE OF FEE
AMOUNT
HOW AND WHEN PAID
Investment fee2, 3
Management fees: The amount you pay for each Fund ranges from 0.99% p.a. to 1.50% p.a. of the amount you invest in that Fund.
Management fees for unitised Funds are calculated and accrued each day, and included in the calculation of the unit price of each unitised Fund on each business day and paid monthly. Management fees are deducted from unitised Fund assets at the end of each month.
PLUS: Performance fee1: A performance fee will be payable when certain investment managers exceed performance targets. The level of the performance fee expressed as a percentage of the amount you invest in each Fund is estimated as follows:
Management fees for non-unitised Funds are calculated on a monthly basis and deducted from the returns generated by the underlying assets at the end of each month. The amount you pay for unitised Funds and for non-unitised Funds is shown in the PRP & AP Fee Booklet
Capital Stable Fund - 0.03% pa; Moderate Fund - 0.06% pa; Balanced Fund - 0.07% pa; Growth Fund - 0.08% pa; and Growth Plus Fund - 0.08% pa
Performance fees are calculated and accrued on a regular basis (at least monthly) and incorporated into the calculation of unit prices. Performance fees are deducted from fund assets at the end of each financial year.
Administration fee2
Nil
N/A
Buy-sell spread2
Nil
N/A
Switching fee2
Nil
N/A
Exit fee2
Nil
N/A
Advice fees2
Nil
N/A
Other fees and costs4
An early closure cost may be incurred if your investment in a non-unitised Fund is redeemed before maturity.4
If applicable, early closure costs will be deducted before the withdrawal amount is paid to you.
Indirect cost ratio2,5
The amount you pay for each Fund ranges from an estimated 0.00% to 0.02% pa
For unitised Funds, costs are accrued into the calculation of unit prices when they become known and deducted as they are incurred.
Relating to all members investing in a particular investment option.
For non-unitised Funds, costs are factored into rates prior to them being confirmed. 1 No performance fees are currently payable for the Cash, Fixed Interest, Fixed Term, Fixed Payment, Australian Equities or International Equities Funds. See Additional Explanation of fees and costs for more details. 2 Please see ‘Additional Explanation of fees and other costs’ in the PRP & AP Fee Booklet for a definition of each fee. 3 The Investment Fees include financial planning fees. See the ‘Fees paid to a financial planner’ section under the heading ‘Additional explanation of fees and costs.’ 4 There are costs associated with closing a non-unitised Fund investment before maturity. Please refer to page 8 of the PRP & AP Fee Booklet for more details. 5 This amount is a reasonable approximation of the anticipated indirect costs based on the information available to SSFS at the date of this document. The actual indirect costs may be more or less than the amount estimated. See the PRP & AP Fee Booklet for more information on indirect costs.
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
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Additional explanation of fees and costs Taxes Taxes are set out in the “How super in retirement is taxed” section of this document. Where applicable, government taxes will be deducted from your account balance. A tax deduction is claimed for fees and expenses incurred and the benefit of this is passed on to you through an increase in the unit price.
Performance fees We may pay some investment managers of the Funds a performance fee for achieving specific targets. This is passed on to you through an increase in the Investment Fee. Performance fees are based on the returns a manager delivers. They will vary from year to year in line with performance. We estimate that the performance fee for the Capital Stable, Moderate, Balanced, Growth and Growth Plus Funds to be from 0.03% pa to 0.08% pa and this estimate is shown in the “Fees and other costs table” above. In exceptional circumstances the performance fee may be outside this range. Each performance fee is calculated slightly differently however they all have the following common elements: ◆ A performance fee is only payable to a manager if they achieve a target level of return; ◆ Each time a performance fee is paid the portfolio must reach the previous highest value plus the appropriate performance hurdle before a new performance fee is payable; ◆ Performance fees are calculated and accrued regularly (at least monthly) and incorporated into the calculation of unit prices. The accrued performance fee can rise or fall in line with delivered performance; and ◆ Performance fees are only payable at the end of each financial year and in certain circumstance payments may be delayed;
Cost of financial advice The management fees in the ‘Fees and other costs’ table above include financial planning costs. See the Statement of Advice from your financial planner for further details.
Rebating of management fees You may be eligible to receive a rebate of investment fees payable on your investment in the Allocated Pension Fund (and other eligible products issued by us). The rebate applies to the fees on the total account balance that exceeds $1,000,000. Please refer to the PRP & AP Fee Booklet for further details.
Fee definitions Please see the ‘Fees and other costs’ section of the PRP & AP Fee Booklet for a definition of each type of fee referred to in this PDS. A definition of each type of fee is also provided on our website at ssfs.com.au/ap
Can the fees change? The Trustee reserves the right to change the rebate percentage and/or the total account balance threshold and/or the eligibility conditions at any time. However, we will give you at least 30 days prior notice of any such change. We have the right to withhold the rebate if we consider that you no longer meet the eligibility criteria We do have the right to increase fees or charge new fees and we will give you at least 30 days prior notice of any increase in fees or charges or any other change in fees or charges, as required by the law.
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Visit our website www.ssfs.com.au or call 1800 620 305 for further information
Example of annual fees and costs for the Balanced Fund The Trustee reserves the right to change the rebate percentage and/or the total account balance threshold and/or the eligibility conditions at any time. However, we will give you at least 30 days prior notice of any such change. We have the right to withhold the rebate if we consider that you no longer meet the eligibility criteria We do have the right to increase fees or charge new fees and we will give you at least 30 days prior notice of any increase in fees or charges or any other change in fees or charges, as required by the law.
EXAMPLE – the Balanced Fund
BALANCE OF $50,000
Investment fees1
1.47% pa
For every $50 000 you have in the Balanced Fund you will be charged $735 each year.
PLUS Administration fees
Nil
And, you will be charged $0 administration fees regardless of your balance
PLUS Indirect costs for the Balanced Fund2
0.02% pa
And, indirect costs of $10 each year will be deducted from your investment
EQUALS Cost of product
If your balance was $50 000, then for that year you will be charged fees of: $745 for the Balanced Fund
1. The investment fee is calculated as the sum of the management fee of 1.40% pa plus estimated performance fees of 0.07% pa 2. This is an estimate of the indirect cost ratio. Please see ‘Additional Explanation of fees and costs’ in the PRP & AP Fee Booklet for more details. Note: * Additional fees may apply. And, if you leave the superannuation entity early, you will not be charged any exit fees. Note: The example above is illustrative only and is based on the factors stated. It should not be taken to contain or provide an estimate of the fees and other costs you will pay in relation to the Allocated Pension Fund.
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
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7. How super in retirement is taxed There are a number of ways that super is taxed. Please see the table below:
You should read the important information about ‘how are pensions taxed’ before making a decision. Go to the Retirement Fund Additional Information Booklet available at ssfs. com.au/ap. The material relating to ‘how are pensions taxed’ may change between the time when you read this Statement and the day when you acquire the product.
TYPE OF TAX
DESCRIPTION
HOW THE TAX IS PAID
Tax on rollovers
Nil
Not applicable
Tax on fund earnings
Nil
Not applicable
Tax on pension payments/ lump sum withdrawals
Over age 60: The whole amount of each pension payment or lump sum withdrawal received on or after age 60 is not included in your assessable income and is not subject to income tax.
Tax (where applicable) is payable on assessment of your income tax return, but we deduct an amount from your Under age 60: If you are below age 60, the withdrawal benefit amount of the pension (less any tax-free as prescribed by amount) is included in your assessable income law. The prescribed and taxed at your marginal rate. A tax offset amount may differ of 15% on any taxed element of the taxable from the tax payable component of your pension payment is available on assessment. if you have reached your preservation age. Tax on lump sum withdrawals is dependent on a number of factors including whether you have reached your preservation age
Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. We may disclose your TFN to another superannuation provider, when your benefits are being transferred, unless you request us in writing that your TFN not be disclosed to any other superannuation provider. It is not an offence not to quote your TFN. However, giving your TFN to your superannuation fund has the following advantages (which may not otherwise apply):
◆ other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your superannuation benefits; and
◆ it will make it much easier to trace different superannuation accounts in your name so that you receive all your superannuation benefits when you retire. You are not required to provide your TFN or your TFN exemption to us, but if you are under age 60 and decline to provide it:
◆ tax will be withheld from the taxable component of your pension at the highest marginal tax rate plus Medicare levy, and no general income tax free threshold or tax offsets will be allowed for;
◆ tax will be withheld from the taxable component of any lump sum withdrawal at the highest marginal tax rate plus Medicare levy, and no low rate cap or tax offsets will be allowed for;
◆ any additional tax paid may not be refunded from the ATO until after you have lodged your tax return. Note: The Government has introduced a Temporary Budget Repair Levy which will raise the top marginal tax rate to 47% from 1 July 2014 until 1 July 2017, impacting a number of tax rates that are aligned to the top marginal tax rate.
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Visit our website www.ssfs.com.au or call 1800 620 305 for further information
8. How to open an account 1. Read this PDS, the Retirement Fund Additional Information Booklet, the PRP & AP Fee Booklet, the Retirement Fund Investment Booklet and the Investment Booklet - Fixed Fund. 2. Complete the Application form included with this PDS or available from ssfs.com.au/ap or your financial planner and forward to us.
Can you change your mind? If you change your mind about purchasing an Allocated Pension you have a 14 day cooling-off period to tell us in writing. This starts from the earlier of either:
◆ the day you receive confirmation of your initial investment; or ◆ the end of the 5th business day after the day on which we issue an interest in the Allocated Pension Fund to you. Depending upon the source of your investment for the Allocated Pension Fund, we can either pay your account balance directly to you or transfer it to another superannuation fund nominated in writing by you. Any preserved amounts or restricted non-preserved amounts in the Allocated Pension Fund cannot be paid directly to you as a lump sum, but must be paid to another superannuation fund or to the Personal Retirement Plan, as nominated in writing by you. You should be aware the amount refunded under the cooling-off rules may be less than the amount you invested. The amount refunded is based on the unit price for the business day on which we receive your request (provided we receive it by 3.00pm Sydney time on a business day), less any applicable tax. Cooling-off does not apply to switching between Funds. You cannot exercise your cooling-off rights if you have exercised any other right or power you have in relation to your Allocated Pension.
Any enquiries or complaints? If you have an enquiry or would like further information about the Allocated Pension Fund, please contact a Client Service Officer at your nearest office. If you are not satisfied with the service you receive from us, you are entitled to complain. We have established procedures to ensure all enquiries are answered and complaints are resolved. Any complaint, should be directed in writing and sent to the General Manager – Financial Planning, State Super Financial Services Australia Limited GPO Box 5336, Sydney NSW 2001. We will respond to your complaint as quickly as possible and will make every effort to resolve your complaint within 45 days. If your complaint is not satisfactorily resolved within 90 days you can refer your complaint to the Superannuation Complaints Tribunal (SCT), which is independent of us. The SCT can be contacted from anywhere in Australia on 1300 884 114. The SCT can deal with the decisions and conduct of trustees of superannuation funds, including the conduct and decisions of people acting on behalf of the trustee. Time limits apply to certain complaints to the SCT. If you have a complaint you should contact the SCT immediately to find out if a time limit applies.
Visit our website www.ssfs.com.au or call 1800 620 305 for further information
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9. Other information You should read the additional important information about:
◆ Personal Information ◆ Family Law ◆ Our Responsibilities to you ◆ Anti-Money Laundering and “Counter-Terrorism” Financing before making a decision. Go to the Retirement Fund Additional Information Booklet available at ssfs.com.au/ap or from one of our offices. The material relating to the additional important information above may change between the time when you read this Statement and the day when you acquire the product.
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Visit our website www.ssfs.com.au or call 1800 620 305 for further information