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Super Member Essentials Additional Information and Financial Services Guide, issued 22 June 2012 The information in this document forms part of the LUCRF Super Member Guide Product Disclosure Statement

This Super Member Essentials serves as the combined Additional Information and Financial Services Guide for the Labour Union Co-operative Retirement Fund (LUCRF Super) ABN 26 382 680 883. Issued on 22 June 2012 by the Trustee of the Fund, LUCRF Pty Ltd ABN 18 005 502 090. AFSL 258481 Issued 29 October 2010


Introduction

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Contents 2. How super works

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Contributions Accessing your super Unclaimed money Consolidate your super Lost super, how to find it

3. Benefits of investing with LUCRF Super 12 Member benefits Community Partnership Trust Our proud history

4. Risks of super

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Understanding risk and return Factors that can affect your balance

5. How we invest your money

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How your super is invested Understanding different asset classes Standard Risk Measure Investor profiles Investment options Investment returns Environmental, Social and Governance

6. Fees and costs

LUCRF Super’s Trustee Board is made up equally of member and employer representatives. There are currently five of each, as well as two independent directors. The Trustee acts in the best interests of our members. It employs a management team and specialists in various fields such as investment, administration, member services, business development, marketing and communications, compliance, information technology and finance. All staff work exceptionally hard for the Fund and our members.

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Important things you should know before reading this Super Member Essentials (Additional Information and Financial Services Guide).

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46

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Why choose LUCRF Pensions?

11. Financial Services Guide (FSG) 52 12. Forms 54 Member Application Form Member Investment Choice Form Member Insurance Election Form Member Income Protection Form Request for Payroll Deduction Choice of Super Fund Form Transfer Between Funds Form

Who runs LUCRF Super?

We appreciate the contribution of our members who have given their permission for their quotes and images to appear in this document. At the time of publication their authority had not been withdrawn.

Joining through an employer Joining our Personal Plan Proof of identification How to certify personal documents Cooling-off period Enquiries and complaints Privacy

10. LUCRF Pensions

We are a Public Offer Fund, which means that anyone can join and enjoy the benefits of membership with Australia’s first true industry super fund.

With thanks

Types of cover Death and Total & Permanent Disablement (TPD) Income Protection Fixed Premium and Fixed Amount cover Choosing your cover Changing your cover Insurance matching Making a claim

9. How to open an account

Our members traditionally came from industries such as warehousing, industrial materials production, dairy and skin & hide. Over the years this grew to include market research, administration, food processing and many others.

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Tax on contributions Tax on investment earnings Self-employed Tax on benefit payments Tax File Number and important information

8. Insurance in your super

The Labour Union Co-operative Retirement Fund (LUCRF Super) was established in December 1978. Today we partner over 184,000 members, 15,000 employers and look after more than $3 billion of funds for them.

The Trustee has taken out liability insurance to protect the Trustee, its directors and employees, and the Fund assets in the event of any claim or wrongful act.

Fees and other costs

7. How super is taxed

About us

The information in this document forms part of the Super Member Guide Product Disclosure Statement (LUCRF Super and LUCRF Super Personal Plan), dated 22 June 2012. You should read the information in this document and the Super Member Guide Product Disclosure Statement before making a decision to invest, available from www.lucrf.com.au or call 1300 130 780. Information contained in this document is general in nature and does not take into account your personal financial situation, objectives or needs. Ratings (awards) are only one factor to be taken into account when deciding whether to join LUCRF Super. Visit our website www.lucrf.com.au or phone 1300 130 780 to find out more. You should obtain financial advice tailored to your own personal circumstances before making a decision. The Trustee holds Australian Financial Services Licence No. 258481 which authorises it to provide personal financial advice. This Super Member Essentials (Additional Information and Financial Services Guide) and the Super Member Guide Product Disclosure Statement do not take the place of the Trust Deed, which is a legal document governing the operation of the Fund. The Trust Deed is binding on the Trustee, all contributing employers and all members of the Fund. A copy of the Trust Deed and Rules can be provided on request. Information contained in this document and the Super Member Guide Product Disclosure Statement is current at the date of preparation. Changes and updates Subject to relevant law, LUCRF Super reserves the right to make changes to the terms and conditions described in this document. Where advance notice is not required or otherwise impossible, information on changes will be provided as soon as practicable following the change. The most up to date copy of this document is available by contacting the Fund or visiting our website. Superannuation is a long-term investment and you should note that if you leave the Fund after a short period, the value of your account may be less than the contributions received. This may arise because of fees, taxes deducted and the investment return received whilst a member of the Fund.

Front cover: Claire Stewart and Joshua Davis. Issued 22 June 2012

Introduction

1. Introduction 2


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‘LUCRF Super’s history of strong returns and low fees means my super is working hard.’ Pat Tugaga LUCRF Super member since 2004

How super works • Contributions • Accessing your super • Unclaimed money • Consolidate your super • Lost super, how to find it

Issued 29 October 2010


Contributions

Salary sacrifice

Building your super into a bigger nest egg

(Before-tax contributions)

Your 9% employer contribution is a great start to your retirement savings. However, most experts believe you will need to contribute around 15% per year into your super to live a comfortable retirement.To do this, you can salary sacrifice or make personal contributions into your super.

Choice of fund Since 2005, most Australian workers have been able to choose which super fund their employers pay their super entitlements into. Some workplaces are covered by an award or workplace agreement, which may nominate a particular fund/s. For those who do have a choice of fund (and who commenced work with their current employer after 1 July 2005), your employer is obligated to provide you with a Choice of Super Fund Form. This allows you to nominate where you want your super to be paid. It also names the ‘default’ fund that your contributions will be paid into if you do not make your own choice. The Choice of Super Fund Form is available at the back of this document and can be downloaded from www.lucrf.com.au

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Salary sacrifice is an arrangement with your employer to pay part of your gross (before-tax) salary directly to super. Because the super contributions tax rate of 15% on salary sacrifice payments is less than most people’s individual income tax rate (between 31.5% and 46.5%, including Medicare levy) you can achieve some favourable tax savings. Remember that salary sacrifice contributions will also count toward your ‘total gross income’ when determining eligibility for the Government co-contribution scheme. If you would like to start salary sacrifice contributions, simply complete the Request for Payroll Deduction Form at the back of this document and hand it directly to your pay office. If you are entering into a salary sacrifice arrangement with your employer, you may wish to clarify whether your SG contributions will be calculated on your wages before or after your salary sacrifice. T o learn more, read our Salary Sacrifice brochure available at www.lucrf.com.au or contact us by phone on 1300 130 780 for personal financial advice or email mypartner@lucrf.com.au

T o find out if your employment is covered by an award or workplace agreement, visit the Fair Work Ombudsman website at www.fairwork.gov.au

Personal contributions

Take LUCRF Super with you When you change jobs, you can ask your new employer to pay super into your existing LUCRF Super account. To do this, simply complete the Choice of Super Fund Form at the back of this document or download it from www.lucrf.com.au and hand it directly to your new employer’s pay office.

Employer contributions

(After-tax contributions) Personal contributions are any voluntary payments you make directly into your super account, using your after-tax (take home) salary or other savings. Every little bit you add now can mean more money in your retirement. You can make personal contributions into your account using any of our three easy payment methods: 1 Bpay®

Superannuation Guarantee (SG), Award or Workplace Agreement

Superannuation Guarantee legislation generally requires your employer to contribute an amount equal to 9% of your earnings (calculated on your OTE – Ordinary Time Earnings) into your super fund of choice. This compulsory 9% employer contribution is known as your Superannuation Guarantee (SG).

Quick and easy online or phone method of making personal contributions directly into your LUCRF Super account at any time. You can find your LUCRF Super Bpay Customer Reference Number (CRN) on your most recent LUCRF Super member statement, member card, or by calling us on 1300 130 780.

Biller Code: 484 469 Bpay CRN: (call us for details)

N  ote: $100,000 maximum Bpay transaction value. May take up to four days processing time and will be effective the day the funds are received in our bank account. ® Registered to Bpay Pty Ltd ABN 69 079 137 518.

how your super account works Contributions • Employer and SG contributions • Personal (voluntary) contributions • Salary sacrifice contributions • Government co-contributions (if eligible) • Spouse contributions • Other approved payments • Roll-ins (transfers from other funds)

• Net investment returns (if positive) Deductions • • • • •

Fees and other charges Insurance premiums (if applicable) Government taxes Withdrawals Net investment returns (if negative)

Your account balance with LUCRF Super

Issued 22 June 2012

How Super Works

How Super Works


How Super Works

Payroll deduction

A little from each pay adds up! Simply complete the Request for Payroll Deduction Form at the back of this guide and hand it directly to your pay office. 3

Cheque or money order

Address your cheque or money order to ‘LUCRF Super’ and along with a completed Direct Contribution Form available from www.lucrf.com.au or call 1300 130 780, send it directly to: LUCRF Super, PO Box 211, North Melbourne VIC 3051.

Spouse contributions Help the one you love and you may receive a rebate from the Government You can help your spouse build their super by making extra contributions into a LUCRF Super account on their behalf. This will help grow their super savings and provide a more comfortable lifestyle in retirement for you both. If you make a spouse contribution/s on behalf of a nonworking or low-income earning spouse, you may claim an 18% tax rebate on spouse contributions up to $3,000 per financial year. The maximum rebate per financial year is capped at $540.

See our ‘How super is taxed’ section for more details on supplying your Tax File Number (TFN).

To be eligible for a spouse rebate, your spouse must earn less than $13,800 for the financial year the spouse contribution is made.

‘Money for Nothing’

If your spouse already has a LUCRF Super account your spouse contribution/s can be accepted immediately. If not, they will need to join LUCRF Super Personal Plan before any spouse contributions can be accepted.

Boost your super using the Government co-contribution scheme The Federal Government wants to give you a hand in building your super. You can get up to $1.00 for every dollar you put in, to a maximum of $1,000 per year. If you earn less than $61,920* per year and make a personal (after-tax) contribution into your super account, you may be eligible to receive a Government co-contribution bonus payment of up to $1,000 per year paid directly into your super account.

Are you eligible?

To be eligible to receive the Government co-contribution to super, you must:

3 Be an Australian permanent resident less than 71 years of age

3 Earn 10% or more of your total income from eligible employment, running a business or a combination of both

3 Earn a total gross income of less than $61,920* per year

3 Have provided your TFN to your super fund 3 Make a personal (after-tax) contribution into your super account by 30 June

3 Lodge an income tax return. 

T o learn more, read our Money for Nothing brochure available at www.lucrf.com.au or contact us by phone on 1300 130 780 or email mypartner@lucrf.com.au *Co-contribution threshold 2011/12. The Government has proposed changes to these limits from 1 July 2012, see www.ato.gov.au for further details. Contribution limits are for each person, not each super account. This means the limits apply to ALL your super accounts, not just LUCRF Super.

A spouse includes your wife, husband or de-facto of same or different sex.

Contribution limits and conditions Before-tax contribution (concessional) limits Includes your employer Superannuation Guarantee (SG) and salary sacrifice contributions The before-tax contribution limit is $25,000 a year (2012/13). A 15% contribution tax rate is applied to before-tax contributions upon entry into the Fund. Any excess contributions made over the before-tax contribution limit will be subject to extra tax of 31.5%. The before-tax contribution limit can change in the future. If you are self-employed, before-tax contributions are defined as any contributions you have claimed a tax deduction on.

After-tax contribution (non-concessional) limits Includes your personal and spouse contributions The after-tax limit is $150,000 per financial year (or $450,000 total over a 3 year period, the ‘bring forward’ option, if aged under 65 years). In future, the cap will be calculated at six times the level of the (indexed) concessional contributions cap. After-tax contributions are tax-free when paid into or out of your super fund. Any excess contributions made over the after-tax contributions limit will be subject to extra tax (see our ‘How super is taxed’ section for more information). Any contributions in excess of this cap will be taxed at the top marginal rate, plus the Medicare levy (currently 46.5%).

Issued 22 June 2012

How Super Works

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How Super Works

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Contribution type

Your age Less than 65

65 – 69

Employer contributions (SG – Superannuation Guarantee including mandated SG contributions)

Salary sacrifice contributions Personal contributions

Government co-contributions

Spouse contributions

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3

70 – 74 Yes, only if contributions are mandated as per employee award

75 + Yes, only if contributions are mandated as per employee award

3

Yes, if you are employed and meet the work test#

Yes, if you are employed and meet the work test#

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3

Yes, if you are employed and meet the work test#

Yes, if you are employed and meet the work test#

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Only eligible if aged 70 or less as at 30 June, for the financial year of personal contribution

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3

3

3

Yes, if the receiving spouse is employed and meets the work test#

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Contributions after age 65 (work test) Depending on your age, the concessional and non-concessional contributions received are subject to satisfying the work test. To satisfy this, you must work a minimum of 40 hours in a 30 day consecutive period within the financial year of payment. This must be paid work, not volunteer work. See the ‘Contribution Checklist’ above for more details.

Issued 22 June 2012

How Super Works

Contribution Checklist


How Super Works

Super is a long-term investment, designed to help you enjoy a more comfortable lifestyle once you wind down your working life. Your superannuation account balance is an accumulation of funds made up of contributions received on your behalf, less fees and taxes, plus interest (positive or negative). The Federal Government has legislated when you can access your superannuation.

When you can access your super Superannuation benefits fall into three categories: 1.

Preserved Generally must be retained in a fund until your retirement, after reaching your preservation age (see right).

2.

Restricted non-preserved Cannot be cashed in (even though it is not preserved) until you have met conditions of release, such as terminating from the participating employer it was contributed through.

3.

Unrestricted non-preserved Can be paid upon request at any time.

Note: Tax may be payable, see ‘How super is taxed’ later in this document. If you are invested in multiple investment options, you are able to specify which investment option you draw down a benefit from. Contact us for further details.

Preserved benefits Since 1 July 1999, all contributions and fund earnings, regardless of their source, are preserved within the superannuation system until you retire. Government regulations set out a minimum age (the preservation age) for the release of benefits. Your preservation age depends on your date of birth (see below): Preserved benefits Date of birth

Preservation age

Before 1/7/60

55

1/7/60 – 30/6/61

56

1/7/61 – 30/6/62

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1/7/62 – 30/6/63

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1/7/63 – 30/6/64

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After 30/6/64

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Restricted non-preserved benefits If you had an arrangement with an employer to contribute super for you before 1 July 1999, you may have benefits which are classified as nonpreserved. So long as you are employed by that same organisation, access to that benefit is restricted and cannot be paid. After you stop being employed by that organisation, contributions become unrestricted and can be paid out to you.

Unrestricted non-preserved benefits Unrestricted non-preserved benefits are those to which no payment restrictions apply. Provided that the fund allows the payment, these benefits can be paid out to you on request, irrespective of your age, employment situation or financial position. These are generally benefits that you have already become entitled to receive but have voluntarily decided to keep within the superannuation system.

HOW TO ACCESS YOUR SUPER Am I eligible to access my super? You are eligible to have your benefit paid directly to you if you meet one or more of the following criteria: You wish to claim any unrestricted non-preserved portion of your super (if you have any) Your total balance is less than $200 and you have ceased employment* You have reached your preservation age and have permanently retired from the workforce You have terminated employment after age 60 (you might still be working for another employer)* You are aged 65 or more, or You meet the criteria for early release outlined later in this section. *Ceased employment with the employer contributing to LUCRF Super. • • • • • •

Complete a Super Claim Form If you believe you meet one (or more) of the above criteria, contact us on 1300 130 780 to speak with a LUCRF Representative to discuss your situation.

Issued 22 June 2012

How Super Works

Accessing your super

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Conditions of early release There are certain exceptional circumstances under which you can apply for an early release of preserved and restricted non-preserved benefits. 1

Small amounts

If you have less than $200 in your super fund and are no longer employed by the organisation that was making those contributions, you can apply to have your benefit paid out. 2

Severe financial hardship

To be eligible for release of your benefits on the grounds of severe financial hardship, you will need to meet the following conditions. If you are aged under 55 years and 39 weeks, you need to: • Be receiving a qualifying Commonwealth income support

benefit for a period of 26 continuous weeks, and

• Satisfy the Trustee (us) that you are unable to meet

reasonable and immediate family living expenses. If you are aged over 55 years and 39 weeks, you need to:

• Be receiving a qualifying Commonwealth income support

benefit for a cumulative period of 39 weeks after reaching your preservation age (table on left), and • Not be gainfully employed on either a full-time or part-time basis when making your application. There are limits on how much and how often you may claim due to severe financial hardship. Please note your benefit payments may also be taxed. Contact us if you would like more information. 3

Compassionate grounds

In very specific circumstances, you can apply to the Department of Human Services (DHS) to have your benefit, or part thereof, released on compassionate grounds. While the DHS must be satisfied that the application meets the criteria for early release, the final decision rests with the Trustee. Grounds under which the DHS will consider an application include situations where you or your dependants incur costs for: Medical treatment Medical transport Funeral assistance Palliative care Modifications to your house or car due to severe disability, or • Preventing forclosure on your mortgage or home. • • • • •

Find out more at www.humanservices.gov.au or by calling Department of Human Services (DHS) at 1300 131 060

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Permanent incapacity

Your benefit may be paid out if you become permanently incapacitated. To have your benefit released early, you will need to provide us with medical certification from two legally qualified medical practitioners stating that because of ill health (physical or mental), it is unlikely that you will ever be in gainful employment for which you are reasonably qualified for by education, training or experience. This medical certification does not automatically provide for payment of insurance claims. If you have taken out total and permanent disability insurance you should contact us about making a separate insurance claim. 5

Temporary residents departing Australia

Temporary residents who have permanently departed Australia are eligible for early release of their preserved superannuation under specific circumstances. That payment will incur a higher withholding tax rate of 35% (45% without a TFN) on the taxable component. You can apply for a Departing Australia Superannuation Payment (DASP) online by visiting the Australian Taxation Office (ATO)’s website at www.ato.gov.au or call 13 10 20 if in Australia or +61 2 6216 1111 if calling from overseas. If your benefit is less than $5,000, send your completed online application and supporting documentation to LUCRF Super. If your benefit is $5,000 or more, send your completed online application, Form 1194 Certification of Immigration Status, and application fee to the Department of Immigration and Citizenship (DIAC). Forms are available at www.immi.gov.au/allforms/superannuation or by calling 13 10 20. DIAC will confirm your eligibility for payment and forward your completed application to LUCRF Super. If you do not claim your superannuation benefit from LUCRF Super within six months of your temporary visa expiring or being cancelled, the Trustee may have to pay your benefit to the ATO as unclaimed money. You will then need to claim any benefit directly from the ATO. The Trustee relies on ASIC relief to the effect that it is not obliged to issue an exit statement to departed former temporary residents when a benefit is transferred to the ATO. An exit statement can be provided on request from LUCRF Super. You will need to contact the ATO directly if you wish to claim your benefit. If you have left Australia, call +61 2 6216 1111 and ask to be put through to superannuation, or if still in Australia call 13 10 20 to speak to a tax officer. Alternatively, you can email the ATO on DASPmail@ ato.gov.au or look at their website, www.ato.gov.au, for more information. Australian and New Zealand citizens or permanent residents of Australia who depart Australia, even on a permanent basis, will not qualify under this criteria. Further information is available from LUCRF Super or the ATO.

Issued 22 June 2012

How Super Works

How Super Works


Important information about accessing your super There are certain things you need to know about accessing your super benefit.

Taxation How tax affects your super benefit will depend upon your personal circumstances, see the How Super is Taxed section later in this document.

Proof of identification In order to complete any request for a benefit payout or rollover from your super account over $1,000, you must provide certified proof of identification with your request. Under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF Act) you should be aware that as part of our compliance with these laws: • The Trustee may need to obtain additional information

when you make a withdrawal from your account, and

• In limited circumstances, the Trustee may be

required to re-verify your identity. See our ‘How to open an account’ section for further details.

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Please note: The Trustee may be legally prevented from paying a nomination if a Court Order stops them from doing so. Who can I nominate? You may nominate one or more of your dependants or your legal personal representative (LPR). Your LPR is someone who has been selected to manage your estate. Dependants can include: • Your spouse (wife, husband or de facto of same or

different sex)

• Your child (including a child from a same or different

sex relationship of any age, a child of your spouse or from a previous association brought into a relationship, adopted child, step child or ex-nuptial child) • A person with whom you have an interdependency relationship, or • Someone financially dependent. It is important to change your nomination if there is a significant change in your personal circumstances (death, marriage, divorce or birth of a child etc.) so that your nomination continues to reflect your wishes.

Interdependency relationships Family Law claims

Two people have an interdependency relationship if:

In the event of a relationship break-up, superannuation is typically assessed as part of the couple’s combined assets and, as a result, some or all of a member’s super balance may need to be transferred to their former spouse.

• They have a close personal relationship (whether or not

A spouse is a wife, husband or de-facto of same or different sex. Please contact us if you would like more information on a superannuation Family Law claim.

Bankruptcy and your super

related by family), and

• They live together, and • One or each of them provides the other with financial

support, and

• One or each of them provides the other with domestic

support and personal care.

OR • They have a close personal relationship (whether or not

related by family), and

Like any asset or investment, super is subject to bankruptcy law. In the event that you declare yourself bankrupt, your assets and holdings (including your super) are examined by an administrator. Any super contributions that are found not to have been made ‘in good faith’ may be subject to collection by the administrator or creditors.

• They do not live together nor provide financial, domestic

Beneficiaries

• They do not live together, nor provide each other with

or personal care to the other because one or both of them suffer from a disability.

OR • They have a close personal relationship (whether or not

related by family), and

A nominated beneficiary is a person/s that you wish to receive your superannuation and insurance benefits (death benefit) in the event of your death. You can make the following types of nominations: • Non-binding nomination

This type of nomination is used as a guide for the Trustee when deciding how your death benefit will be distributed. To advise the Trustee of your preferred nomination, please complete the relevant section in our Member Application Form which can be found at the back of this guide, or a Change of Details Form if you are already a member.

domestic support and personal care because they are temporarily living apart.

Close personal relationships A close personal relationship is one that involves a demonstrated and ongoing commitment to the emotional support and well-being of the person. It excludes those who provide domestic support and personal care under an employment contract or a contract for services, or on behalf of another person or organisation such as a government agency, a body corporate, or a benevolent or charitable organisation.

• Binding nomination

This type of nomination means the Trustee must pay your death benefit to the person/s you have nominated (subject to superannuation law). Binding nominations are valid for three years and you will need to confirm your nomination within this period for it to remain valid. You can change or cancel your nomination at any time. To advise the Trustee of your binding nomination, please complete the Binding Death Benefit Nomination Form available at www.lucrf.com.au or by calling us on 1300 130 780.

Issued 22 June 2012

How Super Works

How Super Works


How Super Works

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The table below contains commonly asked questions and answers regarding nominating beneficiaries. If you have any further questions, please contact the Fund on 1300 130 780.

Non-binding nomination This type of nomination is used What is the difference between each nomination? only as a guide for the Trustee when deciding how your death benefit will be distributed. Please note that the Trustee will also take into consideration your circumstances at the time of your death, including other eligible people that you may not have nominated. Your benefit is typically paid to your dependant/s or LPR.

Binding nomination

No nomination

This type of nomination requires the Trustee to follow your instructions on how you want your death benefit to be distributed.

If you do not make any nomination, your death benefit will be distributed at the Trustee’s discretion.

It is important to ensure your nomination is valid and those nominated are your dependants or LPR The form must be signed in the presence of two witnesses that are over 18 years of age and are not nominated as a beneficiary.

How many beneficiary/ies can you choose?

There is no restriction on how many people you can nominate as preferred beneficiaries.

There is no restriction on how many people you can nominate, but they must be a dependant or LPR.

Who can you nominate as beneficiary/ies?

A death benefit can generally only be paid directly to a member’s dependant/s or LPR.

You can only nominate your dependant/s or LPR.

The Trustee will enquire about your family situation, any dependants, the provisions in your will etc. before making a decision. Your benefit is typically paid to your dependant/s or LPR.

You can nominate someone else (e.g. a friend), however the Trustee must be satisfied that all of your possible dependants are considered when making a decision on who should be paid your death benefit.

How long does your nomination last?

A non-binding nomination is valid for the duration that you are a member of the Fund.

A binding nomination is valid for three years from the date of your signature, providing the form has been received and accepted by the Trustee. The Trustee will write to you when your nomination is about to expire. If left to expire, your nomination is no longer binding and will be used as a guide for the Trustee when distributing your death benefit.

Can you change your choice or nomination?

Yes, you can change your nominated beneficiaries or your type of nomination at any time.

Yes, you can change or cancel your binding nomination at any time.

Simply complete a Change of Details Form for non-binding nominations, or a Binding Death Benefit Nomination Form to make a binding nomination.

You must complete a Binding Death Benefit Nomination Form.

Yes, you can make a binding or non-binding nomination at any time.

Issued 22 June 2012

How Super Works

Beneficiaries and nominations


How Super Works

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Super tip If you find any lost super accounts, you can easily consolidate them into your LUCRF Super account and enjoy one set of low fees and not pay commissions to advisers.

Super search consent From 1 January 2012, you can consent for LUCRF Super to use your Tax File Number (TFN) to search and act on your behalf to help consolidate your super. If consent is provided to LUCRF Super, we will then use your TFN to search Australian Taxation Office (ATO) data bases on your behalf. This may help to find super you have elsewhere and consolidate your retirement savings. You can provide your consent: • In writing, via your Member Application Form, available

at the back of this document

• Over the phone (your identity must be confirmed) • By emailing your details and consent to

mypartner@lucrf.com.au, and

• via Members Online

Combine super accounts and reduce your fees If you are like most Australians and have had more than one job, you will most likely have more than one super account. This means you will be paying more than one set of fees, which can really eat away your hard-earned retirement savings! Consolidating your super into one account can be one of the most important super activities you do to help grow your super for a comfortable and enjoyable retirement.

Do you have a share in billions of dollars of lost and unclaimed super? If you have changed address without notifying your super fund, it is likely your super fund has been unable to contact you and has deemed you a ‘lost’ member. Basically, a lost member is someone whose super fund has lost contact with them and whose account has no activity other than fees and investment movement. Most Australian superannuation funds will transfer these ‘inactive’ accounts to an ‘Eligible Rollover Fund’ (ERF). See below for more information on the ERF process.

The ATO wants to help you! The ATO wants to help people find their lost super and has set up the SuperSeeker website. This website lists lost member details that have been provided by all Australian superannuation funds (excluding self-managed super funds). Simply visit www.ato.gov.au/superseeker to use SuperSeeker online, or call 13 28 65. You will need to have your full name, tax file number (TFN) and date of birth ready to access your super details.

Eligible Rollover Funds Transfer of benefits to an Eligible Rollover Fund (ERF) applies if no contributions have been received by LUCRF Super for over 12 months and your account is under $500. Under these circumstances, the Trustee may elect to roll over your benefit to an ERF. An ERF is a fund that can receive benefits from other superannuation funds for members who cannot be contacted or who do not respond to letters regarding payment of their benefits. We will make every effort to contact you before this transfer occurs to give you the opportunity of either: • Increasing your balance over $500 by making

It’s a lot easier than you think! Simply complete the Transfer Between Funds Form at the back of this document and send it directly to us with a certified copy of your ID for each fund you wish to transfer (see our ‘How to open an account’ section on how to certify your ID). That’s it! We will do all the hard work for you. We will notify you when your other super money has been received by LUCRF Super or if your request can not be completed for some reason. Please note: You will need to lodge an individual Transfer Between Funds Form and a certified copy of your ID for each super account you wish to transfer into LUCRF Super. Your other funds may charge exit fees and leaving could affect your insurance cover. Check with your other funds if you are unsure. If you need help consolidating your super, call us on 1300 130 780 and request a LUCRF Representative to visit you or your workplace.

contributions or rolling in benefits from other funds

OR • Choosing where you want your benefit to be paid.

If neither of these events occurs within 28 days of notification, a transfer of your benefit to the ERF will occur and all rights of membership of LUCRF Super cease, including any insurance cover. You will need to contact the ERF directly to receive your benefit.

The ERF nominated by the LUCRF Trustee is called Australia’s Unclaimed Super Fund (AUSfund). If you need to contact AUSfund, call 1300 361 798, visit www.unclaimedsuper.com.au or write to: AUSfund, PO Box 2468, Kent Town SA 5071.

Issued 22 June 2012

How Super Works

How to find your lost super


Benefits of investing with LUCRF Super •

Member benefits

Community Partnership Trust

Our proud history


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Benefits of investing with LUCRF Super

An award-winning fund

As Australia’s first industry super fund, LUCRF Super is proud to be run only to benefit members. Our products and services enable you to stay with LUCRF from your first job through to retirement.

LUCRF Super has been awarded the highest ratings by independent organisations SuperRatings and Selecting Super, for both our superannuation and pension products, and five stars from CANSTAR for our pension products.

There are many reasons why more than 184,000 people have chosen LUCRF Super. Below are just some of the benefits of choosing LUCRF Super.

SuperRatings Platinum award

Personalised financial advice We pride ourselves on offering a free personalised financial advice service*. Our LUCRF Representatives are qualified to provide you with financial advice to your individual needs and circumstances. If you would like a LUCRF Representative to assist you personally via phone, in person, or you prefer them to come to your workplace, please call 1300 130 780 or email mypartner@lucrf.com.au * Simple advice relating to super and pensions is generally free of charge. Other types of advice may incur a fixed fee. Any fees will be agreed to upfront, prior to any advice being given. If the advice is relating to super, any fees may be deducted from your super account. Advice not relating to super cannot be deducted from your super account and you will be invoiced directly.

Free investment seminars for LUCRF Super members As well as financial advice, we offer free information seminars that cover topics such as investments and retirement. These seminars are delivered nationally at workplaces, as well as at our head office in Docklands, Melbourne.

More than 30 years knowledge and experience Our members benefit from our wealth of experience as pioneers of the super industry, which is evident in our products, services, returns and relationships. Since our inception, we have produced annual average return of 10.02%* (1978 - 2011) for our Balanced (default) investment option. To learn more about LUCRF’s legacy, including how we changed the face of superannuation forever, read ‘Our proud history’, further on in this section. *Past performance is not a reliable indicator of future investment returns.

Community Partnership Trust (CPT) The LUCRF Super Community Partnership Trust was launched in 2010, and is a superannuation industry first. This initiative stems from our founding values, sharing the vision of a fair and secure future through meaningful community engagement.

The prestigious SuperRatings Platinum award is only given to funds that represent the “best value for money”. Our super and pension products have received platinum ratings.

AAA Selecting Super award Our pensions have been recognised amongst the best pension products in Australia as a finalist in the 2009 Retirement Product of the Year – Value Choice category. LUCRF Super has the top “AAA” Selecting Super rating.

CANSTAR LUCRF Pensions have been awarded five stars from one of Australia and New Zealand’s most comprehensive research service providers, CANSTAR. The five star status, which is the top rating possible, denotes outstanding value and was awarded based on factors including; cost, management fees, transaction fees, member benefits, accessibility, functionality, insurance cover, income payment options and retirement solutions. This award recognises our efforts to deliver high quality pension products and services to members.

Industry super As an industry super fund, LUCRF Super exists solely to benefit our members. The advantages of being part of an industry super fund, like LUCRF Super, include: Low administration fees Strong performance No commissions to financial advisers, and Additional benefits. LUCRF Super is a member of the Industry Super Network (ISN), an umbrella organisation for the industry super movement in Australia. • • • •

ME Bank As a member of LUCRF Super, you have access to a range of simple and straightforward everyday banking products from ME Bank. ME Bank is a licensed bank, owned by some of Australia’s biggest industry super funds, including LUCRF Super. Visit www.mebank.com.au for more information.

Since its formation, the Trustees have focused on identifying and supporting worthwhile programs that build skills, capacity and knowledge within communities. These worthy causes reflect the core values of LUCRF, honouring our unique heritage that focused on providing dignity in retirement for all.

Members Online Our members have secure online access to key super and pension information, which provides them the convenience of checking and updating their: balance history, contact details, payment history, investment options, and beneficiaries. Issued 22 June 2012

Benefits of investing with LUCRF

Benefits of investing with LUCRF


Our proud history How LUCRF Super changed the super system forever Before 1978, the average Australian worker wasn’t entitled to superannuation – it was generally an exclusively white collar benefit, which meant that everyday people were forced to rely solely on the Age Pension when they retired. Those workers who were lucky enough to have some sort of retirement benefit didn’t enjoy the same flexibility and rights that we do today.

Our origins – establishing Australia’s first industry superannuation fund LUCRF Super was formally established in December 1978 by the Federated Storemen and Packers Union (FSPU, now the National Union of Workers) who recognised that the existing superannuation system provided few benefits for ordinary working people. The Union started the Fund on the basis of people having the right to choose which fund they wanted to be in, that their super was portable and could be taken with you from job to job. They wanted full vesting of all amounts contributed to be the members’ super benefit and to provide fair retirement benefits for all. In a revolutionary approach, employers were asked to join the Trustee Board which established a long standing partnership between these industrial partners for the benefit of all members. The Skin and Hide Industry Employers Association was the first employer organisation to agree to make contributions on behalf of their employees and participate on the Board.

The old super system In 1978, Australia’s superannuation system was very different from the system we all enjoy today. Back then, super was considered a reward for long and loyal service and was controlled and operated by employers and the insurance industry. To qualify for super, employees were previously required to spend 35-40 years with one company. The old system ignored the reality that most people changed jobs throughout their working life. When employees left a company, most working people were limited to a ‘leaving benefit’ and had no real hope of an adequate superannuation benefit to enjoy in retirement.

LUCRF Super – the alternative When established, LUCRF Super offered a radical alternative to superannuation that operated like a bank account. Member and employer contributions accumulated with investment returns from a balanced investment portfolio, less minimal fees.

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The concept, our collaborative approach The FSPU and LUCRF Super’s original concepts formed the foundation for our new approach to superannuation that in time became the principles that now underpin the Australian superannuation system. • Portability – The ability to take your super with you from

job to job.

• Full vesting – Employer contributions were deferred pay

that belonged to employees and should remain in their super account. • Employee owned – The money in super belonged to employees and they had all the rights that come with ownership.

From 1978 to now Superannuation has changed significantly from 1978 … In the early 1980’s, an agreement between the ALP and the ACTU, known as The Accord, saw unions agree to limit wage claims in return for social wage increases in areas like health care and superannuation. In 1985, as part of Accord Mark II, the Federal Government supported a productivity claim that provided a 3% employer contribution to an approved superannuation fund. In 1987 the Occupational Superannuation Standards Act (OSSA) was introduced and reflected the FSPU’s original principles of almost a decade earlier, including: • Portability of employer and employee contributions

and earnings

• Preservation of superannuation until age 55 • Greater member involvement and control of super

through equal Board representation, and

• Significantly increased reporting requirements to better

secure member benefits. In 1991, the Hawke Government deemed the 3% contribution too small and legislated for a prescribed level of superannuation for all employees. The new system, know as the Superannuation Guarantee (SG) was introduced and is in place today providing superannuation for all employees.

Our legacy When the FSPU established LUCRF Super, the lasting significance of its actions were still only a dream. More than thirty years on, the Union’s culture and vision have provided the foundation for the modern day Australian superannuation system. Financial independence and security in retirement, has become a reality for thousands of ordinary Australians. This is the LUCRF legacy.

Members could remain with LUCRF Super if they moved to a new employer providing the new employer agreed to contribute. If the employer did not agree to contribute, the member had the option of having their entire benefit paid out. This approach to superannuation recognised that money contributed by an employer was part of the employees deferred pay and as such belonged to the employee. It stayed where it belonged, in the members’ super account.

Issued 22 June 2012

Benefits of investing with LUCRF

Benefits of investing with LUCRF


“Im happy with the personalised service” Kristi Tiopira LUCRF Super member since 2006

Risks of super •

Understanding risk and return

Factors that can affect your balance


Risks of super

Depending on your attitude, goals, and specific situation, risk can mean different things to each investor. LUCRF Super feels that there are two main risks involving your super, these are: 1. Your super is invested very conservatively and whilst growing slowing over time, it has not been working hard enough for you and as a result you have less money to enjoy in your retirement, and 2. Your super drops significantly in value and your investment time frame remaining (the time before you access it or retire) means that you are unlikely to recover the loss (make the money back) – there has been too much volatility in your investments.

Understanding risk and return Your investment decision should be based upon your own risk profile and the time horizon you invest over. A MyRisk Profile Questionnaire is available from the Fund. It will assist you in assessing your attitude towards risk and return. Contact the Fund directly for a copy or speak to one of our LUCRF Representatives for personal financial advice and assistance. Financial and investment markets are made up of many different aspects, all of which can affect each other in various ways.

Super tip Important facts you should keep in mind: • Just like any other asset, super does have a • •

• •

level of risk Investment returns can be volatile and may fluctuate from year to year You should consider what level of risk you are comfortable with and what return you want your investment to achieve, and Past performance is not an indicator of future investment returns. Complete our MyRisk Profile Questionnaire available at www.lucrf.com.au or call us on 1300 130 780.

Factors that can affect your balance

Like any investment, the returns on your super can fluctuate from year to year, depending on the financial markets and the economic situation at the time. The investment return can be positive or negative. Risk is defined as the probability your benefit has of losing value, or your investment not meeting your investment objective over the desired period. LUCRF Super invest in various asset classes, which all carry different levels and types of risk. Currency risk We may hold assets or cash in other currencies and the returns on these can be impacted by the value of both currencies. Hedging aims to reduce this risk. Market risk The value of stocks and other securities are driven by supply and demand. If more people want to buy stock than sell, its value increases. Conversely, if more people want to sell than buy stocks, the value will naturally decrease. Inflation Inflation is generally understood as the cost of living increasing, as measured by the Consumer Price Index (CPI). If your investment returns do not keep up with inflation, your money will lose its buying power over time. Investor confidence When investor confidence is high and the economy is growing, greater returns can generally be expected. Conversely, low investor confidence and stagnant (or shrinking) economies may see negative returns resulting in balances decreasing. Long-term investment Super returns fluctuate each year, depending on the type of investment, the global economy and many other contributing factors. Negative returns happen from time to time and are not inconsistent with successful longterm returns. As long-term investors, super funds carefully examine how asset classes are expected to perform over many decades. The good news is that with a variety of investment options available to our members, you can decide the amount of risk associated with your money. Further information on our investments and the Standard Risk Measure is available in the ‘How we invest your money’ section.

Issued 22 June 2012

Risks of super

All investments, including super, involve varying levels of risk. You should therefore not think about returns (regardless of the type of investment) without considering the level of risk attached, and visa versa.

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‘LUCRF Super signing the UNPRI makes me very proud to be a member.’ Linda Johnston LUCRF Super member since 2000

How we invest your money • How your super is invested • Understanding different asset classes • Standard Risk Measure • Investor profiles • Investment options • Investment returns • Environmental, Social and Governance


How we invest your money

It is designed to be put away and not accessed until you reach preservation age (see our ‘Accessing your super’ section for more information). Rather than simply letting your balance sit still, LUCRF Super offers you the opportunity to grow your balance while you work. We offer a range of investment options with each option offering different levels of risk, letting you choose the investment strategy that best suits you.

How your super is invested We invest and manage your money with a strategy of providing long-term growth over your working life and retirement. The investment of your super is a very important factor in determining the benefit that will be available during your retirement. When you join LUCRF Super, you are automatically invested in the Balanced (default) option, unless you nominate your own choice of investment.

Asset Class options

All Asset Class options invest solely in one asset class. The options are: Cash Indexed Shares Australian Shares International Shares, and Property. More information about each of these options is detailed further in this section. • • • • •

Understanding different asset classes We invest members’ money in various ways, according to the investment choices you make and the way those options are structured. Asset classes are simply different types of investments. Some are riskier than others. Asset classes generally fall into one of two categories – defensive or growth. These are outlined below.

Defensive

If you wish to choose your own investment option – or mix a range of the options, please complete the Member Investment Choice Form (at the back of this document). This form can be used to make your initial investment choice when you join. It can also be used to amend your investment choice during your membership to suit your changing circumstances or attitude to risk and return.

Defensive investments are types of investments used to protect or reduce the chance of a negative return. They generally provide more income and have lower capital growth and tend to provide a lower long-term return but are more stable. The types of assets that are generally regarded as defensive are:

You may wish to complete our MyRisk Profile Questionnaire to assist in determining what your attitude to risk and return is. Contact us on 1300 130 780 for more information, or visit our website www.lucrf.com.au, for a copy.

Cash

Our Balanced (default) investment option

When we think of cash we think of notes and coins, this differs with investments. Cash represents deposits held in very short-term fixed interest investments or the short-term money market.

Our Balanced (default) investment option is invested and managed with a strategy of providing long-term growth above the rate of inflation. Since our inception, our Balanced option has produced an average annual return of 10.02% from 1978 to 2011. Although past performance is not a guarantee of future investment returns, our history shows that despite market fluctuations, our Balanced option has provided a healthy long-term return. This is LUCRF’s default investment option, where all members are automatically invested unless they notify their own choice of investments.

Investment options available We offer you a selection of nine investment options to choose from. Each of these provides different objectives and risk levels. We don’t restrict you to one investment option, you can mix and match as many of the options as you like. The options you can choose from are split into two categories; ‘Pre-mixed’ and ‘Asset Class’ options:

Pre-mixed options All Pre-mixed options are made up of a blend of asset classes and are also known as diversified options. Each choice has a different amount of growth and defensive types of assets that spread the risk. They are designed to suit a specific type of investment profile. The Pre-mixed options are: • • • •

Balanced (default) Conservative Moderate, and High Growth. Sebastian Zwalf LUCRF Member since 2006

Issued 22 June 2012

How we invest your money

Superannuation is a long-term investment.

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19

Fixed interest

Currency hedging

Many governments and corporations often borrow money from investors at a set interest rate and term. These loans are often referred to as fixed interest securities and are usually in the form of bonds.

This is investing in futures in order to offset any change in the valuation of foreign currency. Currency hedging for the Balanced (default), International Shares, Conservative, Moderate and High Growth investment options is 50% of the current foreign currency exposure derived from the investments in international markets.

Property Defensive property investments are generally those that have high quality tenant agreements with fixed rental growth structures within their leases. This provides a higher level of income security, which can be important during market downturns. These investments typically have lower returns, but also have lower levels of risk.

Growth Growth investments are investments such as shares, property, private equity and alternatives. They are likely to go up and down in terms of performance from year to year but have the potential to grow over the longer term and usually have large capital growth potential. The type of assets that are generally regarded as growth are:

Australian and international shares Shares (or equities) represent ownership of a company. The value of shares and the return on investment can be influenced by a number of factors including: • A company’s profit or loss • Market conditions for the industry in which the company

operates • General economic conditions including fluctuations, interest rates etc., and • The value of the Australian dollar.

Property

Alternatives They are non-traditional assets, investments other than stocks or bonds. Alternatives aim to provide long-term returns which are not as sensitive to market fluctuations.

Choosing the right investment option Your super is your retirement nest egg. It can allow you to live a more comfortable life in retirement without having to rely solely on Government support. It is important that you take some time to carefully consider exactly how you would like your money invested, as the difference between options can be significant depending on the performance of the financial markets. Even a 1% difference in annual returns can have a large impact over the long-term. Read the rest of this section and consider the investment options, strategies and objectives detailed in the following pages. The more you know about investment options and the various asset classes, the easier it will be to make your investment choice. Before making a decision relating to investments, you should consider which choice is right for you. We also offer you the choice to select which investment option any benefit payment or pension payments are drawn from if you choose a mix of options.

Growth property investments are normally those that are targeted because of the opportunity they provide over a short to medium time frame to create value through development, refurbishment and on-sale. During unstable market conditions, growth property investments may experience a sharper decline in value in comparison to defensive property. Although growth investments carry a higher risk, there is also a greater potential to achieve higher returns. The factors that influence the return on property include: • • • • •

Location Cost and quality of property Income from the property (e.g. rent) General economic conditions, and Manager performance.

Private equity This is usually defined as investments in privately-owned companies that are not listed on the stock market.

Issued 22 June 2012

How we invest your money

How we invest your money


Standard risk measures The risk label and band shown for each LUCRF Super investment option uses the Standard Risk Measure adopted by the superannuation industry. It is based upon each investment option’s assumed number of negative returns over a 20 year period and grades these investment options across seven ‘Risk Labels’, from ‘very low risk’ (Risk Band 1) to ‘very high risk’ (Risk Band 7). It doesn’t however provide a complete assessment of all forms of investment risk, for instance it does not indicate the volatility of returns or what the actual size of a negative return could be. The table below sets out the information used in the description of each investment for you.

How we make these risk assessments The risk band and label for each LUCRF Super investment option has been calculated on the following basis:

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3. Franking credits in respect of Australian shares have been included. All other taxation related issues are ignored, Franking credits have been included as the Trustee feels that this: a. provides a more realistic outcome as members actually receive net of tax returns; and b. removes any artificial distortion in the representation of risk between Australian and international equities.

Investment profiles An ‘investment profile’ may help you choose the investment option that is suitable for you depending on the level of risk you may be comfortable with taking. Each investor tolerates risk differently therefore we have seven different investment profiles, summarised in the table below.

Risk band

Risk label

Estimated number of negative annual returns over any 20 year period

1

Very low

Less than 0.5

2

Low

0.5 to less than 1

This is appropriate for someone who is investing for a short period of time (up to one year) with the primary objective of preserving capital. A short term investor is someone who:

3

Low to medium

1 to less than 2

• Is prepared to invest about 5% of your fund in growth

4

Medium

2 to less than 3

5

Medium to high

3 to less than 4

6

High

4 to less than 6

7

Very high

6 or Greater

What investment profile suits you? Short-Term Investment profile

• •

1. Using Towers Watson’s long-term (ie, 10 years+) capital market assumptions (return, volatility and correlation) for each asset class as at 31 December 2011, These assumptions include investment manager costs but exclude LUCRF Super’s administration costs

• •

focussed assets like shares and property.Will invest these funds for a period of one year or less. Is not concerned if the return does not keep pace with inflation. Is prepared to accept a lower long term return in order to minimise the risk of a negative return occurring. That any negative return should not create any significant fall in the value of your superannuation. Does not want to solely invest in cash.

2. Using the current strategic asset allocations of each LUCRF Super investment option

ASFA Standard Risk Measure Investment profile Classification

Standard Risk Level

Standard Risk Band

Estimated number of negative annual returns over any 20 year period

Example: Investment option allocation

Short-term

Very low

1

Less than 0.5

5% Balanced 95% Cash

Cautious

Low

2

0.5 to less than 1

70% Cash 30% Balanced,

Conservative

Low to Medium

3

1 to less than 2

100% Conservative

Moderate

Medium

4

2 to less than 3

100% Moderate

5

3 to less than 4

100% Balanced 100% High Growth 35% 15% 30% 20%

Balanced

Medium to High

High Growth

High

6

4 to less than 6

Aggressive

Very high

7

6 or Greater

Australian Shares, International Shares, Indexed Shares and Property

Issued 22 June 2012

How we invest your money

How we invest your money


How we invest your money

This is someone who is ideally investing for a period of between one to three years and whose goal is to preserve capital whilst also minimising the effect that inflation has on real purchasing power over time. A cautious investor is someone who: • Is prepared to invest in a portfolio where approximately

• • • • •

20% of your funds are invested in growth focussed assets like shares and property. Will invest these funds for a period of between one to three years. Is trying to achieve a return of CPI plus 1%. Does not want a large amount of volatility in returns. Is prepared to accept that a negative return may occur roughly one in every fifteen years. Requires that any negative return should not create any significant fall in the value of your superannuation.

• Is prepared to accept that a negative return may occur

roughly one in every five years.

• Is prepared to accept a high level of volatility in returns

in order to obtain higher long term returns, however they still want 30% of their investment in defensive investments such as bonds and cash. • Understands that a negative return could be as significant as a 20% fall in the value of your investment.

High Growth Investment profile This is someone who is investing for the long term and whose goal is to maximise their long term returns whilst still having some of their investment in defensive assets such as cash and fixed interest. A high growth investor is someone who: • Is prepared to invest about 95% of their funds in growth

Conservative Investment profile

This is someone who is investing for longer than three years and whose goal is to have a return that exceeds inflation by approximately 2%. A conservative investor is someone who:

• Prepared to invest about 30% of your funds in growth

• • • •

focussed assets like shares and property. Will invest these funds for a minimum period of three years. Is trying to achieve a long term return of at least CPI plus 2%. Is prepared to accept some volatility in returns from year to year. Is prepared to accept that a negative return may occur roughly one in every fourteen years. Requires that any negative return should not create any significant fall in the value of your superannuation.

Moderate Investment profile This is someone who is investing for between three and seven to ten years and whose goal is to modestly grow the spending power of their investment over time but someone who also does not want to put more than half their money into growth assets. A moderate investor is someone who:

Aggressive Investment profile This is someone who is investing for the long term and does not want any exposure to defensive assets such as bonds and cash. An aggressive investor is someone who: • Is prepared to invest in a portfolio where 100% of their

• • •

• Is prepared to invest approximately 50% of their funds

• • • •

in growth focussed assets like shares and property. Will invest these funds for a minimum period of three years. Is trying to achieve a long term return of at least CPI plus 3%. Is prepared to accept that a negative return may occur roughly one in every seven years. Is prepared to accept some volatility in returns in order to obtain higher long term returns. Understands that a negative return could be higher than a 10% fall in extreme circumstances.

focussed assets like shares and property. Will invest these funds for a minimum period of seven years. Is trying to achieve a long term return of at least CPI plus 5%. Is prepared to accept that a negative return may occur roughly one in every four years. Is prepared to have significant volatility of returns in order to achieve the desired long term returns. Understands that a negative return could be as significant as a 33% fall in the value of their investment.

funds are invested in growth focussed assets like shares and property. Will invest these funds for a minimum period of seven years. Is trying to achieve a long term return of above CPI plus 5%. Is prepared to accept that a negative return may occur roughly one in every 4 years of the investment strategy. Is prepared to have significant volatility of returns in order to achieve the desired long term returns. That a negative return could be as significant as a 40% fall in the value of their investment.

In addition, LUCRF Super can provide you with personal financial advice to assist in selecting the options that are right for you. To access this advice please call us on 1300 130 780 and ask for a qualified LUCRF Representative.

Balanced Investment profile This is someone who is investing for the medium to long term and whose goal is to grow the spending power of the investment over time and is prepared to accept volatile returns in the short term to achieve this. A balanced investor is someone who: • Is prepared to invest about 70% of their funds in growth

focussed assets like shares and property.

• Will invest these funds for a minimum period of five years. • Is trying to achieve a return of at least CPI plus 4%.

Issued 22 June 2012

How we invest your money

Cautious Investment profile

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Investment options Pre-mixed options Each option contains a mix of growth and defensive asset classes (diversified)

Balanced (default) This is the investment option that most members are in and the option to which your super automatically invests in (defaults to), unless you instruct us otherwise. Investment strategy To invest in a diversified range of investments, with approximately 76% in shares, growth property and growth alternative investments, and approximately 24% in cash, fixed income, defensive alternatives and defensive property. Growth...........................76% Defensive......................24% Investment objective To achieve a return (net of tax and investment expenses) that exceeds the increase in the CPI by at least 4% p.a. over moving 10 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 5.

Risk of short-term negative return Moderate The return obtained each year will fluctuate and will be negative from time to time. There is a moderate chance that the return in any 1 year will be negative.

Strategic asset allocation^ 12%

2%

27%

25.5%

10% 23.5%

Expected frequency of negative annual returns in any 20 year period 3.8

%

Ranges

Risk band (1 to 7) 5

Australian shares

25.5%

18–33%

International shares

23.5%

17–31%

Risk label Medium to high

Property

10%

3–15%

Alternatives

27%

15–40%

Type of investor Balanced

Fixed interest

12%

3–20%

2%

0–4%

30% 10.9%

Cash30.1%

11.5%

Investment fee 0.69%

#

8% 9.5%

12%

2%

27%

25.5%

10% 23.5%

15.1% 26.7% 16.7%

15.8%

19.8%

Conservative Investment strategy To invest in a diversified range of investments, with approximately 30% in shares, growth property and alternative investments, and approximately 70% in cash, fixed income and defensive property.

Risk of short-term negative return Low The return obtained each year will fluctuate and will be negative from time to time. There is a low chance that the return in any 1 year will be negative.

5.9%

Strategic asset allocation ^ 30% 10.9% 30.1%

11.5% 8%

Expected frequency of negative annual returns in any 20 year period 1.4

9.5%

Australian shares

Growth.............................30%

Risk band (1 to 7)

Defensive........................70%

3

Investment objective To achieve a return (net of tax and investment expenses) that exceeds the increase in the CPI by at least 2% p.a. over moving 5 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 14.

Risk label Low to medium

Alternatives

Type of investor Conservative

Cash

Investment fee# 0.48%

%

Ranges

11.5%

8.5–14.5%

31.7%

6.1%

International shares 30.4%

Fixed interest

10.9%

7–15%

8%

3–13%

31.8%

Property 15.1%

26.7%

16.7%

9.5%

3–19%

30.1%

18–40%

30%

20–40%

15.8%

19.8% 5.9%

6.1%

30.4%

31.7%

31.8%

Issued 22 June 2012

How we invest your money

How we invest your money


How we invest your money

30% 12% 27% 30.1%

10.9%

25.5% 11.5%

10% 23.5% 9.5%

8%

Pre-mixed options Each option contains a mix of growth and defensive asset classes (diversified)

Moderate Investment strategy To invest in a diversified range of investments, with approximately 50% in shares, growth property and alternative investments, and approximately 50% in cash, fixed income and defensive property. Growth.............................50% Defensive........................50%

Risk of short-term negative return Low to moderate The return obtained each year will fluctuate and will be negative from time to time. There is a low to moderate chance that the return in any 1 year will be negative. Expected frequency of negative annual returns in any 20 year period 2.6 Risk band (1 to 7) 4

Investment objective To achieve a return (net of tax and investment expenses) that exceeds the increase in the CPI by at least 3% p.a. over moving 5 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 7.

Risk label Medium

High Growth

Risk of short-term negative return Moderate to high The return obtained each year will fluctuate significantly and will be negative from time to time. There is a moderate to high chance that the return in any 1 year will be negative.

Investment strategy To invest in a diversified range of investments, with approximately 95% in shares, growth property and alternative investments, and approximately 5% in defensive property. Growth.............................95% Defensive...........................5% Investment objective To achieve a return (net of tax and investment expenses) that exceeds the increase in the CPI by at least 5% p.a. over moving 10 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 4.

26.7%

10.9% 16.7%

30.1% 19.8% 5.9% 9.5%

11.5% 15.8% 8%

%

Ranges

Australian shares

16.7%

10–22%

International shares

15.8%

8–23%

Property

5.9%

3–12%

19.8%

6–28%

Alternatives Cash

15.1%

26.7% 6.1%

26.7%

13–41%

16.7%15.1%

10–20%

31.7%

15.8%31.8%

30.4% 19.8% 5.9%

#

Expected frequency of negative annual returns in any 20 year period 4.4

15.1%

30%

Fixed interest

Type of investor Moderate Investment fee 0.60%

Strategic asset allocation ^

Strategic asset allocation ^ 6.1%

31.7%

30.4%

31.8%

%

Ranges 25–40%

Australian shares

31.8%

Risk band (1 to 7) 6

International shares

30.4%

20–42%

6.1%

2–10%

Risk label High

Alternatives

Type of investor High Growth

Property

31.7%

13–46%

Fixed interest

0%

0%

Cash

0%

0%

Investment fee# 0.75%

The investment fee is a measure of the fees deducted from investments. These fees include the cost of the Fund’s investment managers, custodian and investment advisor and certain other costs of the Fund. The investment fee is the total of these costs, divided by the net asset value of the Fund. These fees are deducted directly from the investment earnings before they are allocated to member accounts. They are therefore not deducted from your super account directly.

#

^

Pre–mixed Strategic asset allocation, see www.lucrf.com.au for current asset allocations.

Issued 22 June 2012

How we invest your money

Investment options

2%

23


24

Investment options Each option invests in a single asset class

Asset class options

Cash Investment strategy To invest in a portfolio consisting primarily of bank deposits, but which may include other short-term securities. Growth................................0% Defensive..................... 100% Investment objective To achieve a return (gross of tax and investment expenses) that is equal to the UBSA Bank Bill Index and to eliminate the probability of a negative return.

Risk of short-term negative return Very low The chance of a negative return in any 1 year is very low. Expected frequency of negative annual returns in any 20 year period Never

Risk label Very low Type of investor Short-term

Risk of short-term negative return

Investment strategy To invest in shares on a passive basis, with approximately half in Australian shares and the balance in international shares.

High The return obtained each year will fluctuate significantly and will be negative from time to time. There is a high chance that the return in any 1 year will be negative.

Growth.......................... 100%

Expected frequency of negative annual returns in any 20 year period 5.3

Investment objective To achieve a return (gross of tax and investment expenses) that matches the change in a 50%/50% combination of the S&P/ASX300 Accumulation Index and the MSCI World (ex-Australia) Accumulation Index over moving 3 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 4.

Risk band (1 to 7) 6 Risk label High Type of investor Aggressive Investment fee# 0.39%

Risk of short-term negative return

Investment strategy To invest in Australian shares on an actively managed basis.

High The return obtained each year will fluctuate significantly and will be negative from time to time. There is a high chance that the return in any 1 year will be negative.

Defensive...........................0% Investment objective To achieve a return (gross of tax and investment expenses) that exceeds the change in the S&P/ASX300 Accumulation Index over moving 3 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 3.

Cash

100% 100% 50%

Investment fee# 0.20%

50%

Strategic asset allocation ^

50%

100%

50%

100%

%

Ranges

Australian shares

50%

48–52%*

International shares

50%

48–52%*

100%

100%

50%

50%

Australian Shares

Growth.......................... 100%

100%

Risk band (1 to 7) 1

Indexed Shares

Defensive...........................0%

Strategic asset allocation ^

100%

Strategic asset allocation ^ 100%

100%

Expected frequency of negative annual returns in any 20 year period 6.1 Risk band (1 to 7) 7 Risk label Very high Type of investor Aggressive

100%

Australian shares

100%*

100%

Investment fee# 0.60%

Issued 22 June 2012

How we invest your money

How we invest your money


50%

How we invest your money

25

Investment options

100%

Each option invests in a single asset class

Asset class options

50%

International Shares Investment strategy To invest in international shares on an actively managed basis. Growth.......................... 100% Defensive...........................0% Investment objective To achieve a return (gross of tax and investment expenses) that exceeds the change in the MSCI World (ex-Australia) Accumulation Index over moving 3 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 3.

Risk of short-term negative return High The return obtained each year will fluctuate significantly and will be negative from time to time. There is a high chance that the return in any 1 year will be negative.

Strategic asset allocation ^ 50%

100%

Expected frequency of negative annual returns in any 20 year period 5.2 Risk band (1 to 7) 6

100%

International shares

Risk label High

100%

Type of investor Aggressive Investment fee# 0.65%

Property Investment strategy To invest in listed property trusts on a passive basis. Growth.......................... 100% Defensive...........................0% Investment objective To achieve a return (gross of tax and investment expenses) that equals the change in the S&P/ASX300 Property Trust Index over moving 3 year periods, and to limit the probability of achieving a negative return to approximately 1 year in 3.

100%*

Risk of short-term negative return High The return obtained each year will fluctuate significantly and will be negative from time to time. There is a high chance that the return in any 1 year will be negative.

100%

Strategic asset allocation ^

100%

Expected frequency of negative annual returns in any 20 year period 5.9 Risk band (1 to 7) 6

Listed property trusts

100%*

Risk label High Type of investor Aggressive Investment fee# 0.39%

# The investment fee is a measure of the fees deducted from investments. These fees include the cost of the Fund’s investment managers, custodian and investment advisor and certain other costs of the Fund. The investment fee is the total of these costs, divided by the net asset value of the Fund. These fees are deducted directly from the investment earnings before they are allocated to member accounts. They are therefore not deducted from your super account directly. *

From time to time the Investment Managers may hold cash.

^Asset Class Strategic asset allocation as at 22 June 2012. Please note: The Australian Shares, International Shares and Property options commenced on 22 July 2005.

Issued 22 June 2012

How we invest your money

100%


How we invest your money

26

2010/ 11

2009/ 10

Balanced*

9.92%

7.11%

Accumulation Rates

2008/ 09

2007/ 08

2006/ 07

2005/ 06

5 Yr 10 Yr Average Average 2007–11 2002–11

Pre-Mixed (13.37%)

(6.49%)

16.02%

16.60%

2.05%

4.94%

Conservative^

5.19%

Moderate^

6.22%

High Growth^

6.95%

Asset Class Cash

4.29%

3.02%

3.77%

5.43%

4.95%

4.48%

4.29%

4.41%

Indexed Shares

6.27%

6.80%

(16.78%)

(16.14%)

16.43%

18.80%

(1.61%)

1.53%

Australian Shares

12.06%

15.06%

(16.80%)

(12.35%)

26.79%

18.89%

3.58%

International Shares

10.61%

6.47%

(16.19%)

(19.40%)

6.91%

14.49%

(3.19%)

6.90%

16.02%

(34.40%)

(34.73%)

24.87%

10.99%

(7.89%)

Property

* This is the investment option that most members are in and the option which your super automatically invests in (defaults to) unless you instruct otherwise. ^Rate: 1 September 2010 to 30 June 2011. Past performance is not a reliable indicator of future investment returns. PLEASE NOTE: The Australian Shares, International Shares and Property options commenced 22 July 2005. The Conservative, Moderate and High Growth options commenced on 1 September 2010, therefore limited performance information is available.

Changing your investment choice You can change your investment option at any time or online by completing a Member Investment Choice Form, available at the back of this document, at www.lucrf.com.au or by calling us on 1300 130 780.

Is there a fee for making an investment switch?

Calculating investment returns 1.

LUCRF Super values assets weekly and uses weekly rates to allocate net investment earnings to members.

2.

Valuations typically occur each Monday during the month and at month end.

3.

Valuations may not occur on a Monday for the following reasons:

No. There is no fee for making an investment switch to one or a mix of options, and there is no limit to the amount of switches you can make in any given year.

• When the first Monday of the month is within

the first three business days of the month, the valuation is typically deferred to the following Monday

When will my change of investment option take effect?

• When the last Monday of the month is within

Your application to change investment option is effective the day after the valuation of assets, for those request forms received by 5pm EST on the day of valuation. Assets are typically valued on a Monday (see ‘Calculating investment returns’ at right).

Calculating returns when changing your investment choice

Requests to change investment options will receive net investment earnings using the next declared rates (post date of receipt of the application form). The new investment options will apply from the day after valuation day.

the last three business days of the month, the valuation is typically deferred to month end, or

• Where Monday is a public holiday, investments will

be valued on the next business day.

4.

The valuation process uses the closing prices in the Australian and overseas markets in which we have investments. Unlisted investments and real estate assets are valued less frequently. We use the most recent valuation available.

5.

These rates allocate net investment earnings to members based on daily account balances. Investment returns are applied to members’ accounts when (the earliest of):

Annual investment returns – updating your balance At the end of each financial year, we calculate the final return on investment for our members. This percentage (positive if your option has made money, negative if it has not) is then applied to your balance and adjusted accordingly. This process takes a couple of months after 30 June. Once finalised, we send you a statement outlining how your account balance has performed over the course of the year (or since you joined if you are a relatively new member).

• A benefit is paid • An accumulation balance is transferred to a

pension account, or

• A change to investment options is processed • 30 June each year.

6.

Contributions and transfers in receive the net cash rate from the date of receipt to the next valuation date, and the investment return for the selected investment option after valuation date.

7.

Financial year-to-date and historical rates are shown on our website at www.lucrf.com.au

Issued 22 June 2012

How we invest your money

Crediting Rates financial years 1 July to 30 June and historical


How we invest your money

27

Rollovers and other benefit payments

How we invest your money

Where you request to rollover your balance to other superannuation or pension funds, full or partial benefit payments (commutations) and Death and Total & Permanent Disablement payments, you will receive the latest rates (post date of receipt of the benefit payment request) and then the net cash rate to the date of payment.

Compassionate (APRA approved) and financial hardship payments These payments will receive the most recent rate and then the net cash rate to the date of payment. Please note: The net cash rate is the after-tax rate determined by LUCRF Super.

Managing investments To help your investments perform as effectively as possible we work with a wide range of experts and specialists, both internally (LUCRF Super staff) and externally (Investment Managers). The three groups who look after your investments (outlined below) ensure that we carefully monitor investment performance and are mindful of different ways we can try to maximise the returns for our members.

Investment Committee A sub-committee of the LUCRF Super Trustee Board, the Investment Committee has responsibility for monitoring and managing the way our members’ funds are invested.

Investment Oversight Group The Fund employs staff to provide technical knowledge and support to carry out decisions of the Investment Committee. This department is responsible for working with our Investment Managers to achieve the goals and objectives as determined by the Committee.

Investment Managers External Investment Managers are responsible for the performance of our members’ funds. To provide greater security, we don’t just have one person looking after everything – each investment manager is allocated a set amount of member funds. We also diversify the Investment Managers within each asset class. For example, we might have two different investment managers looking after the Australian Shares asset class, while two others invest in cash and fixed interest only. This allows us to spread the risk and is a large reason why the LUCRF Super Balanced (default) option has returned an annual average return of double digit figures (10.02%* since inception, 1978–2011).

*Past performance is not a reliable indicator of future investment returns.

Issued 22 June 2012


How we invest your money

28

How we invest your money

ESG (Environmental, Social and Corporate Governance) integration into investment process We believe that ESG issues can affect the performance of investment portfolios. Thus, we incorporate ESG considerations into our investment decision-making process in order to deliver sustainable investments for your portfolio. When LUCRF talks about ‘ESG Integration into our investment process, we are referring to our systems and processes of management that govern our behaviour and conduct, taking into account the potential environmental, social and corporate governance (ESG) investment risks. How does LUCRF do this? LUCRF implements ESG integration into its investment process by i) Being a foundation member of The Australian Council of Superannuation Investors (ACSI), which assists its member superannuation funds to manage environmental, social and corporate governance (ESG) investment risk. ii) Being a signatory to the United Nations Principles for Responsible Investment (UNPRI), highlighting our ongoing commitment to the promotion of more sustainable markets and long-term investment using ESG issues to improve investment. iii) Assessing, as a standard process, the ESG capabilities of our equity managers at selection and as part of our ongoing review processes. iv) Exercising our proxy voting. v) Monitoring ESG performance of our equity portfolios. vi) Being a member of Investor Group on Climate Change (IGCC), which aims to encourage government policies and investment practices that address the risks and opportunities of climate change, for the ultimate benefit of our superannuation members. vii) Participating in Australian Institute of Superannuation Trustees (AIST) research on the carbon footprints of Australian investment funds (Australian equity portfolios). viii) Sponsoring, with ACSI, research relating to Labour & Human Rights issues that form part of the “S” component of ESG. The results are published in the following research papers: a) “Labour and Human Rights Standards in Corporate Australia, May 2012” b) “Supply-Chain Labour and Human Rights, Dec 2011.” ix) Participating in other investor collaborative activities through ACSI, AIST and IGCC.

Bill Pepito LUCRF Member since 2008

Issued 22 June 2012


‘Low fees make a lifetime of difference to my super.’ Nagmeldin Osman LUCRF Super member since 2004

Fees and Costs • Fees and other costs • Additional explanation of fees and costs


There’s a big difference between super funds As an industry super fund, LUCRF Super is run only to benefit members. We do this by offering very low fees and by not paying commissions to financial advisers – it’s your retirement money! There is a big difference between LUCRF Super and funds that charge higher fees and commissions – it can add up to tens of thousands of dollars.

Fees and other costs Knowing the impact of fees and costs to your superannuation benefit is important. You should read all the information in this section to understand how LUCRF Super compares to other products. Please note that the Consumer Advisory Warning is a Government prescribed warning for every Product Disclosure Statement and is not relevant to LUCRF Super in relation to negotiating fees. The fees for LUCRF Super are the same for all members and cannot be negotiated. LUCRF Super does not pay commissions to advisers.

30

Consumer Advisory Warning Did you know? Small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns. For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final return by up to 20% over a 30 year period (e.g. reduce it from $100,000 to $80,000). You should consider features such as superior investment performance or the provision of better member services to justify higher fees and costs. You may be able to negotiate to pay lower contribution fees and management costs where applicable. Ask the Fund or your financial advisor.

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 Investment Commissions (ASIC) website www.moneysmart.gov.au has a Superannuation Calculator to help you check out different fee options.

T his document shows fees and other costs that you may be charged. These fees and costs may be deducted from your account, from the returns on your investment, or from the Fund assets as a whole. Taxes and insurance costs are set out in ‘How super is taxed’ and ‘Insurance in your super’ sections of this document. You should read all the information about fees and costs because it is important to understand their impact on your investment.

Issued 22 June 2012

Fees & Costs

Fees & Costs


Fees & Costs

31

Fees and costs at a glance

Fees & Costs

This section shows fees and other costs that you may be charged. They may be deducted from your account, from the returns on your investment or from the Fund assets as a whole. Type of fee or cost

Amount

How and when paid

Entry/establishment fee The fee to open your account.

Nil

Not applicable

Contribution/transfer in fee The fee on each amount contributed to your account by yourself, your employer or a rollover from another fund.

Nil

Not applicable

Withdrawal/termination fee The fee on each amount you take out of your investment.

$35 – partial withdrawals $70 – full withdrawal (account closure)

Deducted from your account at the time of withdrawal.

Management costs The fees and costs for managing your investment. LUCRF Super does not charge buy/sell spreads.

Management costs consist of: Administration fee $1.25 per week Plus Management fee Pre-mixed options Balanced (default) 0.69% Conservative 0.48% Moderate 0.60% High Growth 0.75%

Administration fee of $1.25 per week is deducted from your account balance every three months or on a pro-rata basis when you close your account. Other Management Costs (OMC) are deducted from the gross earnings of the Fund (not your account).

Asset Class options Cash Indexed Shares Australian Shares International Shares Property

Note: The withdrawal fee is not payable when benefits are paid in full directly to a member on retirement, compassionate grounds, hardship, death, TPD or transfer to LUCRF Pensions.

0.20% 0.39% 0.60% 0.65% 0.39%

Member Benefit Protection fee This covers the cost to protect members with low account balances from having their money eaten away by fees.

The Trustee estimates that the fee will be 0.08%#.

Change of Investment Option fee

Nil

Not applicable

Family Law Enquiry fee The fee charged to the non-member spouse for a request for information (Form 6 Declaration) under the Family Law Act.

$50

Paid by the non-member spouse for information relating to a Form 6 Declaration request for information under the Family Law Act.

Family Law Split fee The fee charged when a benefit is split between a member and spouse under the Family Law Act in divorce or separation.

$35

$35 deducted from the member’s account and $35 deducted from the non-member’s account when the split is completed.

Requests for additional information LUCRF Super will provide you with all information you would reasonably need to make an informed assessment of the management and financial condition of the Fund.

Nil

Not applicable

Goods and Services Tax (GST)

All fee calculations are inclusive of GST

This fee is an estimate and may vary from the actual charge.

Deducted from investment earnings before they are applied to your account.

Note: You may also be charged other service fees or special request fees for specific services. Refer to ‘Additional explanation of fees and costs’ on the following page for further information. #0.08% effective from 1 July 2011.

Issued 22 June 2012


Fees & Costs

Reserves Policy

Management costs

The Trustee maintains three reserves. This makes no difference to the fees and charges you pay as a member of LUCRF Super.

The management costs shown on the previous page are made up of two components:

Trustee Reserve

• Those that are deducted directly from members’

account balances, e.g. $1.25 per week, and • Those that are not deducted directly from members’ account balances, but are instead deducted from the investment earnings. These are called Other Management Costs and include investment management, asset custody, trustee and secretariat, legal and general operational costs. The management fee for investments is regularly reviewed and may change from time to time. If you have more than one investment option, the fee is deducted from the gross investment earnings before the net rate is applied to your funds.

Transactional costs In addition to the management costs shown, transactional costs, such as brokerage, may be deducted from investments when they are bought or sold. We estimate that these costs could be up to 0.50%.

Fee changes All fees are current at the time of publication and may be revised or adjusted by the Fund from time to time. If there is a new or increased fee, the Trustee will notify all members at least 30 days in advance of the change commencing.

The difference to fees charged to members and the administration and investment expenses incurred in the management of the Fund are credited to the Trustee reserve. This reserve is maintained to supplement funds required to meet future Trustee expenses.

Capital Adequacy Reserve The after-tax value of any insurance rebate received and tax benefit received in the payment of insurance premiums are both credited to this reserve. Earnings at the cash rate on reserve balances and on assets that support unpaid liabilities that cannot be directly referable to a member investment choice are also credited to this reserve. It is maintained to meet additional significant expenses of LUCRF Super and LUCRF Pensions.

Operational Risk Reserve This reserve is funded through rounding of the crediting rate process. It is maintained to meet unfunded liabilities as they arise during the administration and operation of the Fund.

Member Benefit Protection The cost of protecting small account balances (of less than $1,000) is deducted from the overall earnings of the Fund. The Trustee reviews the fee regularly and will vary the fee charged to reflect the actual cost from time to time. If your account balance is less than $1,000 (after allowing for the withdrawal fee of $70) at the end of a financial year, the Government Member Protection regulations apply. This means the administration fee applied to your account for the year cannot exceed the amount of interest applied to your account for the year. Member protection excludes insurance premiums, tax or costs deducted prior to the declaration of investment returns. These charges will still be deducted. In years where the overall investment returns are low or negative, protected members may be charged fees at normal Fund rates ($1.25 per week) of up to $10 plus investment earnings. To learn more about insurance costs or tax, please read our ‘Insurance in your super’ and ‘How your super is taxed’ sections of this document.

Financial Advice Simple advice relating to super and pensions is generally free of charge. Other types of advice may incur a fixed fee. Any fees will be agreed to upfront, prior to any advice being given. If the advice is relating to super, any fees may be deducted from your super account. Advice not relating to super cannot be deducted from your super account and you will be invoiced directly.

Jan Barker LUCRF Member since 2003 Issued 22 June 2012

Fees & Costs

Additional explanation of fees and costs

32


‘LUCRF Super helped me understand how it all works.’ Natasha Tse LUCRF Super member since 2001

Tax and Super How super is taxed Tax on contributions

Tax on your investment earnings • Tax onTax on contributions withdrawals

• Self-employed Tax on investment membersearnings • Self-employed •

Tax on benefit payments

Tax File Number and important information


34

Tax and super

Tax on investment earnings

How tax affects your superannuation benefit will depend upon your individual circumstances. The information in this section provides a general guide of taxation rules that currently apply. It is recommended that you seek professional advice on taxation matters.

The Fund pays a maximum of 15% tax on its investment earnings. This tax is deducted from the gross investment earnings of the Fund, not directly from member accounts.

Note: All LUCRF Super Fees calculations are inclusive of Goods and Services Tax (GST).

If you are a self-employed member, you may be able to claim a tax deduction for contributions up to $25,000 made into super until you are aged 75 (subject to satisfying the work test). You may also be eligible for the Government co-contribution scheme (conditions apply).

How superannuation is taxed – accumulation phase Under Australian tax legislation, superannuation may be taxed at the following times: • When contributions are received (employer and

salary sacrifice payments)

• On your investment earnings (prior to declared rates

being applied to member accounts), or

• When you withdraw a benefit from your super account.

Tax on contributions received by LUCRF Super Employer, salary sacrifice, personal contributions where a tax deduction has been claimed, rollovers from an untaxed fund and Superannuation Guarantee (SG) contributions are taxed by the Federal Government at 15% upon entry into the Fund. This tax is deducted from your account on a quarterly basis.

Self-employed members

You need to advise LUCRF Super each year of the amount you are claiming as a tax deduction. This is done by submitting a notice to the Fund in accordance with the Income Tax Assessment Act. Please complete a Consent to obtain information - individual form (NAT 7112) available from the ATO’s website, www.ato.gov.au Your election must be made to us at the earlier of: • The time of your personal tax return lodgement • The end of the financial year following the financial

year in which the contributions were made, or

• Making a claim on your benefit before the end of

the financial year. We will send you a letter to keep with your taxation records once you have notified us.

Personal (after-tax) contributions, spouse contributions, Government co-contributions and transfers from other superannuation funds that came from a taxed source are not taxed when received.

The table below outlines the different contribution types and information of tax and capped amounts. Contribution type and description Strict tax penalties apply if these capped amounts are exceeded.

Concessional Contributions (before-tax)

Non-Concessional Contributions (after-tax)

••

••

•• ••

Tax entering super

15%

Caps (contribution limits) for 2012/2013

••

Tax on amounts over the caps

Employer contributions including Superannuation Guarantee (SG) Salary sacrifice (before-tax) Contributions where a tax deduction is claimed

•• ••

Voluntary (after-tax) member contributions Government Co-contributions Spouse contributions

0% $25,000

31.5%* (in addition to the 15% contributions tax)

•• ••

$150,000 per year, or $450,000 (over a 3 year period, using the ‘bring forward’ rule – up to age 65)

46.5%*

Note: Any excess concessional contributions also count toward the non-concessional cap. Please visit the Australian Tax Office website, www.ato.gov.au or call 13 10 20, for further information including excess cap assessment. *Includes the Medicare levy of 1.5%

Issued 22 June 2012

How super is taxed

How super is taxed


Tax on benefit payments from LUCRF Super If you are under age 60, tax may be deducted when your benefit is paid out of the superannuation system. The amount of tax deducted will depend on your own circumstances, including your age, how long you have been in a super fund, the type of benefit you receive and the components of your benefit. No taxation is payable for superannuation payments for members over 60 years of age. When you receive a benefit payment from your super, the Fund will provide you with a benefit statement showing the breakdown of your benefit and any tax applied to the various tax components. Taxable and tax-free components Tax components

Tax treatment

Exempt

Tax free

Taxable

Under 55 years: 20% Tax (plus Medicare levy) Aged 55-59 years: The first $175,000* is tax free, amounts over $175,000* are taxed at 15% (plus Medicare levy)

Tax File Numbers (TFN) The Fund is authorised to seek your TFN under the Superannuation Industry (Supervision) Act 1993. We will use your TFN in confidence and only for legal purposes including finding or identifying superannuation benefits where there is insufficient information, calculating tax on benefit payments and providing information to the Tax Commissioner. We may also provide it to the Trustee of any other superannuation fund to which benefits may be transferred. We will not pass your TFN on to any other fund if you advise us in writing not to. Where an employee provides a TFN for employment purposes, it is also approved to be quoted for superannuation purposes and your employer must pass the TFN on to the Fund within 14 days. These purposes may change in the future if there is any alteration to the legislation.

It is not an offence to not quote your TFN. However, If you do not quote your TFN: 1.

Aged 60 and over: Tax free The low rate threshold is $175,000 for 2012/13, $165,000 for 2011/12 and increases in increments annually in line with movements in Average Weekly Ordinary Time Earnings (AWOTE).

*

Departing Australia Superannuation Payment (DASP) benefits attract different tax rates to the above table (see ‘How super works’ section).

Terminal illness, death and disablement benefits Terminal illness, death and disablement benefits are taxed at different rates depending on your age, when you become disabled and whom the benefit is payable to (for death benefits). The calculation of the actual level of tax is complicated. For more information, contact the Australian Taxation Office on 13 10 20 or call us directly.

35

You will pay higher tax. Funds are required to pay the highest rate of tax to the ATO at the end of the income year for super accounts without a valid TFN (tax of 35% is payable in addition to the 15% contributions tax). The additional tax will be refunded if you provide a valid TFN to LUCRF Super within a three year period.

AND 2.

We will not be able to accept personal (after-tax) payments from you. This means you could miss out on receiving the Government co-contribution through LUCRF Super (if you are eligible).

AND 3.

You may have difficulties tracking lost super.

Anti-detriment payments Death benefits paid from the Fund to your spouse or children may be enhanced to include an anti-detriment payment. This additional component is intended to represent a refund of the contribution tax paid or deducted against concessional contributions that were received for you.

Surcharge The Federal Government previously levied a surcharge tax on the taxable contributions paid for high income earners prior to 30 June 2005. Any surcharge previously incurred is still payable and adjustments may occur on your account for these previous periods.

Issued 22 June 2012

How super is taxed

How super is taxed


‘No worries, I’ve got low fees and insurance that can be changed to meet our family needs’ Cooper, Campbell, Hunter, Fiona and Teal Gibson. Campbell has been a LUCRF Super member since 2003

Insurance in your super • Types of cover • Death and Total & Permanent Disablement (TPD) • Income Protection • Fixed Premium and Fixed Amount cover • Choosing your cover • Changing your cover • Insurance matching • Making a claim


37

Peace of mind for you and your loved ones

Income Protection

The average new mortgage in Australia is $288,900* would your super cover this, plus any car or personal loan, credit cards and living expenses if you died?

Income Protection insurance provides you with temporary financial support if you are unable to work through illness, injury or accident. You will receive a monthly payment for up to two years, helping to support you and/or your family (upon acceptance).

For many of us, just getting from one payday to the next can be challenging enough. Everyday costs seem to be forever increasing and just getting by is that bit harder. Imagine if something happened to you – would your loved ones be financially supported? LUCRF Super members can enjoy that peace of mind. Our flexible insurance arrangements make it easy for members to pick and choose the cover that best suits them. * Source: Australian Bureau of Statistics, 5609.0 – Housing Finance, Australia, April 2012.

Terminal Illness benefits If you suffer from an illness or injury which is likely to result in death within 12 months time, you can apply for a Terminal Illness benefit payment to be made to you. All applications for a Terminal Illness benefit payment must be made in writing with appropriate supporting documentation. Please contact us if you would like more information.

Insurance

Cover when you join LUCRF Super

If you or others rely on your salary, finances can get pretty tight if you were to suddenly pass away or were prevented from working again due to injury or poor health. Our insurance products can provide peace of mind and financial security if your circumstances do suddenly change for the worse.

When you first join LUCRF Super and you have an employer who pays contributions into your account, you are automatically allocated the following:

LUCRF Super offers a range of insurance products which are summarised in the table below: Products

Types of cover

Death and Total & Permanent Disablement (TPD)

Fixed Premium

Death Only

Fixed Amount Fixed Premium Fixed Amount

Work categories Standard or White Collar Standard or White Collar White Collar

Income Protection

N/A

Light Blue Heavy Blue

Please note: Our default cover is 1 unit of Standard Fixed Premium Death & TPD.

Death and Total & Permanent Disablement (TPD) Death and TPD insurance provides a benefit to you if you become totally and permanently disabled (upon acceptance) or to your dependants, nominated beneficiaries or legal personal representative in the event of your death. For more information on TPD, please see ‘What is Total and Permanent Disablement (TPD)?’ later in this section.

Death Only Death Only insurance provides a benefit to your dependants, nominated beneficiaries, or your legal personal representative (your estate) in the event of your death (upon acceptance).

• Up to 64 years of age – 1 unit of Standard Fixed

Premium Death & TPD cover ($2.00 per week*) • Aged 65–69 years – 1 unit of Standard Fixed Premium Death & restricted TPD cover (for specific loss, loss of independent existence and cognitive loss only) ($2.00 per week*) • Aged 70 and over – no insurance. *Cost of insurance is deducted directly from your super account

Automatically increasing your cover Within 90 days from the date of your welcome letter, you have the opportunity to increase your insurance up to our Automatic Acceptance Levels (AALs). This means that you don’t have to answer any health questions or provide any medical evidence to automatically receive Standard Fixed Premium insurance up to the levels outlined below: • 4 units of Death & TPD, or • 6 units of Death Only.

Personal Plan members If you join LUCRF Super as a Personal Plan member, you are not allocated default insurance cover. To apply for Personal Plan insurance, you need to complete two forms before any insurance cover is assessed and accepted by LUCRF Super’s Insurer. The forms required are: 1. Personal Plan Member Insurance Election Form, and 2. OnePath Personal Statement. All applications for insurance cover for Personal Plan members are subject to acceptance from our Insurer. The Insurer may ask you for additional information or a medical assessment to support your application. You will be notified in writing by the Fund if cover is accepted and the date from which it is effective. Any claim for the payment of an insured benefit must be made in writing with supporting documentation. Claims are jointly assessed by LUCRF Super and the Insurer and approved or rejected at their discretion.

Issued 22 June 2012

Insurance in your super

Insurance in your super


Fixed Premium and Fixed Amount cover We offer two types of Death & TPD and Death Only cover, they are: • Fixed Premium, and • Fixed Amount.

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Whilst the amount of cover is fixed and does not change, the premium you pay will increase as you age. Please see our Fixed Amount table below and case study later in this section for further details. PLEASE NOTE: You must be under the age of 60 to apply for Fixed Amount cover.

Work categories

Fixed Premium This is where the premium (cost) of your insurance is set at a fixed cost per unit. Whilst the premium remains the same, the total insured amount will reduce as you age. The premium is charged for each unit of insurance that you receive. This cost is maintained at $2.00 per week (per unit) for Death & TPD, and $1.00 per week (per unit) for Death Only insurance. The amount of cover per unit depends on your age and the type of work you do. The work categories available are Standard or White Collar. Please see our Fixed Premium table below and case study later in this section for further details.

Fixed Amount This type of cover enables you to apply for a specific dollar amount of insurance that suits you. The premium cost is charged per $1,000 of cover you receive.

To reflect the various risks associated with the different jobs people do, there are two work categories; Standard and White Collar.

Standard For members whose work includes some degree of manual labour usually conducted outside an office environment.

White Collar Where the duties of your occupation are limited to professional, administrative, clerical, secretarial, or similar deskbound (sedentary) tasks that do not involve manual work and are undertaken entirely (or at least 80%) within an office environment.

The type of work you do will determine if your premiums are charged at the Standard or White Collar rate.

Fixed Premium Standard Age at next birthday Up 31 36 41 46 51 56 61 66

to to to to to to to to to

30 35 40 45 50 55 60 65 70

Death & TPD $2 per week per unit of cover

White Collar

Death Only $1 per week per unit of cover

$100,400 $98,400 $79,200 $44,100 $22,100 $12,400 $7,300 $6,600 $4,500*

$67,600 $50,900 $50,900 $38,100 $22,100 $22,100 $22,100 $19,800 $12,500

Death & TPD $2 per week per unit of cover

Death Only $1 per week per unit of cover

$172,400 $168,900 $136,100 $75,700 $37,900 $21,300 $12,700 $11,400 $7,500*

$116,100 $87,400 $87,400 $65,500 $37,900 $37,900 $37,900 $34,000 $22,000

Fixed Amount: Annual premium rate per $1,000 insured Age at next birthday Up 31 36 41 46 51 56 61 66

to to to to to to to to to

30 35 40 45 50 55 60 65 70

Standard Death & TPD $1.06 $1.06 $1.31 $2.36 $4.71 $8.39 $14.25 $15.76 $23.11*

White Collar Death Only

Death & TPD

Death Only

$0.77 $1.02 $1.02 $1.36 $2.35 $2.35 $2.35 $2.63 $4.16

$0.60 $0.62 $0.76 $1.37 $2.74 $4.88 $8.19 $9.12 $13.87*

$0.45 $0.59 $0.59 $0.79 $1.37 $1.37 $1.37 $1.53 $2.36

*TPD cover is restricted to specific loss, loss of independent existence and cognitive loss only (see ‘What is Total and Permanent Disablement (TPD)’ later in this section)

Issued 22 June 2012

Insurance in your super

Insurance in your super


39

Choosing your cover

Changing your cover

When applying for Death & TPD or Death Only insurance, you can choose either Fixed Premium or Fixed Amount cover, you cannot have a combination of both. You can apply for up to a maximum of $2 million.

You can increase, change, convert or cancel your cover at any time, subject to our terms and conditions.

If you are unsure which type of cover may suit your circumstances, please call us to speak to a LUCRF Representative. All forms mentioned in the table below are available either at the back of this document, on our website, www.lucrf.com.au, or you can call us on 1300 130 780 to speak to a LUCRF Representative.

Please note that to cancel your insurance cover with LUCRF Super you must send a signed instruction to us at the address provided below. Your cancellation will become effective from the date your request is received. The table below outlines what forms you will need to fill out depending on what insurance you are applying for. Please complete the relevant forms and send to: LUCRF Super PO Box 211 North Melbourne VIC 3051

Forms required What insurance am I applying for?

Within 90 days of joining

After 90 days of joining

Fixed Premium cover Default insurance

Member Application Form

1 unit of Standard Death & TPD

Note: If you do not choose any insurance upon joining this cover is automatically applied to your account.

Within Automatic Acceptance Levels

Member Application Form (when first joining)

Automatic Acceptance Levels

OR

4 units of Death & TPD

Member Insurance Election Form (existing members)

6 units of Death Only

Member Insurance Election Form Note: If you answer ‘yes’ to any health questions, you will also need to fill out a OnePath Personal Statement.

Note: No health questions or medical evidence required. Above Automatic Acceptance Levels

Member Insurance Election Form Note: If you answer ‘yes’ to any health questions on this form, you will also need to fill out a OnePath Personal Statement.

Over 7 units or $750,000

Member Insurance Election Form and OnePath Personal Statement

Fixed Amount cover Up to $750,000

Member Insurance Election Form Note: If you answer ‘yes’ to any health questions on this form, you will also need to fill out a OnePath Personal Statement.

Over $750,000

Member Insurance Election Form and OnePath Personal Statement

Converting your cover Fixed Premium to Fixed Amount

Member Insurance Conversion Form

(you need to be under the age of 60 and “at work” to be eligible)

Note: Your cover will be rounded up to the next $1,000 upon conversion.

Fixed Amount to Fixed Premium

Member Insurance Conversion Form Note: Cover will be rounded up to the next whole unit. If you answer yes to any health questions you will also need to fill out a OnePath Personal Statement.

Personal Plan members You are required to have an account balance of at least $1,500 and complete the below two forms before any insurance cover is provided and/or altered: 1) Member Insurance Election Form – Personal Plan, and 2) OnePath Personal Statement. Please note: If your balance drops below $1,500, your cover may cease and any claim will be reviewed individually by the Insurer.

For further information on our terms and conditions, please see the forms or contact the Fund.

Issued 22 June 2012

Insurance in your super

Insurance in your super


Insurance in your super

If you have Death & TPD or Death Only insurance with another super fund, you can apply to have your existing level of insurance matched by LUCRF Super.

How can you apply for your cover to be matched? Simply follow the steps below to make an application for your current cover to be matched by LUCRF Super. 1.

2.

3.

Complete a Member Insurance Matching Form (available from www.lucrf.com.au or by calling us on 1300 130 780), and Attach a copy of your most recent statement detailing the type and level of cover you have with the other fund (if cover has changed since this statement, then provide evidence of the new type and levels of cover), and If applicable, attach a copy of any special acceptance terms that were agreed with your other fund (e.g. any restrictions, exclusions or limitations).

PLEASE NOTE: You can only apply for matching cover under the age of 60. LUCRF Super will only match cover up to a value of $1 million. Any amount over this needs to be assessed by our Insurer. If your application is accepted, your new insurance cover will be subject to LUCRF Super’s terms and conditions. These may differ from your existing policy/ies, so please take care to read our terms and conditions before you cancel any other policy/ies. If accepted, LUCRF Super will provide you with a sufficient number of Fixed Premium units which will ensure that the amount of insurance provided, as a minimum, matches your cover held with your other super fund. Do not cancel your existing insurance arrangements until you have received confirmation in writing that your request has been accepted by LUCRF Super. Further terms and conditions apply, please contact the Fund directly for information on 1300 130 780.

Case study 1

Fixed Premium cover Max

• 38 years old • F orklift Driver (qualifies for Standard Fixed Premium cover) • Mortgage of $180,000

Wants cover of Cover available per unit Selects the following Is covered for How it is calculated

• Other debts of $15,000 • Married with two children. Insurance goal: To have enough Death & TPD insurance so that his family could pay off the mortgage and debts as well as having a bit left over, if something were to happen to him.

Total cost of cover selected

$230,000 (approximately) $79,200 (based on job and age) 3 units of Death & TPD Fixed Premium cover $237,600 1 unit of Standard Fixed Premium Death & TPD cover for a 38 year old = $79,200 If Max wants to be covered for $230,000 he multiplies $79,200 (1 unit) x 3 = $237,600 1 unit of Death & TPD cover for a 38 year old costs $2 per week 3 units of Death & TPD cover = $2 per week x 3 units $6 per week (deducted from Max’s super account quarterly)

Case study 2

Fixed Amount cover Helen

• 36 years old

Wants cover of Cover available per unit

• Payroll Manager (qualifies for White Collar Fixed Amount cover) Selects the • Mortgage of $300,000 • Other debts of $9,000

following Is covered for How it is calculated

• Married with four children. Insurance goal: To lock in a fixed amount of Death & TPD cover so that her family could pay off the mortgage and put aside some money for the children’s Total cost of cover selected education, if something were to happen to her.

$400,000 (approximately) $1,000 per unit of costing $0.76 per year (based upon job and age) 400 units of Death & TPD Fixed Amount cover $400,000 1 unit of White Collar Fixed Amount cover Death & TPD for a 36 year old = $1000 which costs $0.76 per year. If Helen wants to be covered for $400,000 she multiplies $1000 (1 unit) x 400 = $400,000 400 x $0.76 (cost for 1 unit) = $304.00 premium per year $304.00 divided by 52 weeks in a year = $5.85 per week (deducted from Helen’s super account quarterly)

Issued 22 June 2012

Insurance in your super

Insurance matching

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When cover starts

Other unpaid leave – less than three months

You are covered 24 hours a day, 7 days a week as long as all policy terms and conditions are met, including: • Your application is received by the Fund within 60 days of being signed and dated or default cover is applied (excludes Personal Plan members) • Your account has sufficient funds to cover the cost of the insurance premium, and • You are actively at work on the day you complete this application (excludes Personal Plan members). Note: Other terms and conditions apply. Contact the Fund for further details.

Your insurance cover continues for a period of up to three months while you are on unpaid leave and you do not need to let us know. The only requirement our insurer has is that your employer must approve your leave. They should also record the date your leave commenced and the date you expect to return to work.

All Personal Plan members must apply for and be accepted to receive any insurance cover.

In this instance, the final decision rests with our Insurer and they may impose certain restrictions or conditions if your cover is to continue.

When cover stops Your insurance cover will stop: • If your LUCRF Super membership ceases • If you write to us to cancel your cover (cover is cancelled from the date your request is received) • If you have insufficient funds in your account to cover the cost of the insurance • When you reach the benefit expiry age: – 70 years for Death and TPD • The date a Death, TPD or Terminal Illness benefit becomes payable from the insurer • If no formal notification is received of unpaid leave in excess of 90 days, or • The date the policy ends.

Other unpaid leave – more than three months If you are taking more than three months unpaid leave, you are required to contact us and let us know, as we do need to apply to our insurer for your cover to continue.

Overseas employment If you move overseas to work for your current employer, your cover will continue for a period of up to three years. It is important that you contact us and let us know, so we can update your details.

Continuation option If your cover stops because you are no longer a member of LUCRF Super, you may apply for an individual insurance policy with our insurer. This application must be made within 60 days of ceasing membership.

Maintaining your cover

There may be restrictions on this policy, which can only be for a level of cover up to the amount you already had. Other eligibility criteria also apply. Please contact us if you would like to apply for an individual insurance policy on leaving the Fund.

There are many times throughout our lives where changes in your circumstances may affect your insurance cover.

War

Maternity and paternity leave Your insurance cover continues for a period of up to 12 months while you are on maternity/paternity leave (paid or unpaid). The only requirement our Insurer has is that your employer must approve your leave (generally a fairly standard step of taking time off!). They should also record the date your leave commenced and the date you expect to return to work. If you are taking more than 12 months leave, you are required to contact us and let us know as we do need to apply to our Insurer for your cover to continue. In this instance, the final decision rests with our Insurer.

41

In the event of war, our insurer may increase the premiums, or exclude payment of an insurance claim if the reason for the claim is war-related.

What is Total and Permanent Disablement (TPD)? You are considered to be totally and permanently disabled if you have insurance cover with the Fund and meet one of the following five definitions:

Unlikely to return to work If you have suffered an illness or injury and, as a result of that illness or injury, you have: • Been totally unable to be employed or engaged in your

occupation, business profession or employment for a period of six consecutive months, and • Been determined by the Trustee at the end of that six month period (or such later time as the Trustee and our Insurer determine) to be permanently incapacitated to such an extent as to render you unlikely to ever be employed or engaged in any gainful occupation, business, profession or employment for which you are reasonably suited by education, training or experience.

Issued 22 June 2012

Insurance in your super

Insurance in your super


Permanent impairment

If you have suffered an illness or injury and, as a result of that illness or injury, you have:

Important information

• Suffered a permanent impairment of at least 25%

What are my insurance options if I have previously lodged a TPD claim?

of whole person function as defined in the American Medical Association publication Guides to the Evaluation of Permanent Impairment, 4th edition; or in an equivalent guide to impairment approved by the Insurer, and • Been disabled to such an extent that, as a result of this impairment, you are unlikely ever again to be employed or engage in any gainful occupation, business, profession or employment for which you are reasonably suited by your education, training or experience.

Specific loss* If, as a result of illness or injury, you have suffered the total and permanent loss of the use of: • Two limbs (where ‘limb’ is defined as the whole hand or

the whole foot), or

• The sight in both eyes, or • One limb and the sight in one eye.

Loss of independent existence* If, as a result of illness or injury, you suffer the loss of independent existence.

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If you have previously lodged a claim for Total & Permanent Disablement through LUCRF Super, you will be limited to 1 unit of Death Only Fixed Premium cover (excluding Personal Plan members). Should you wish to apply for any higher cover, you will need to complete a OnePath Personal Statement and any other requirements which will be reviewed by the insurer. The Member Insurance Election Form is available at the back of this document. If you are a Fund member and need to fill in the OnePath Personal Statement, you will need to contact the Fund or go to our website to obtain a copy.  ll Personal Plan applicants will need to A fill in the Member Insurance Election Form – Personal Plan and the OnePath Personal Statement, which are available at www.lucrf.com.au or call 1300 130 780.

‘Loss of independent existence’ means we have determined you are totally and irreversibly unable to perform at least two of the following five ‘activities of daily living’ without the assistance of another adult: 1. Bathing and/or showering 2. Dressing and undressing 3. Eating and drinking 4. Using a toilet to maintain personal hygiene, or 5. Getting in and out of bed, a chair or wheelchair, or moving from place to place by walking, wheelchair or with assistance of a walking aid.

Cognitive loss* If, as a result of illness or injury, you have suffered cognitive loss, defined as the total and permanent deterioration or loss of intellectual capacity and: • Require continuous care and supervision by another

adult for at least six consecutive months, and

• At the end of that six month period, you are likely

to require permanent ongoing continuous care and supervision by another adult.

Please note: The final decision on insurance claims is made by the Trustee. TPD cover is restricted to these three definitions only for members aged 65–69 years.

*

Issued 22 June 2012

Insurance in your super

Insurance in your super


43

Income Protection insurance

Work categories

Income Protection insurance provides you with financial support if you have to stop work due to illness or injury. Also known as salary continuance cover, it pays a monthly income to help support you and your family for a period of up to two years.

For professional, clerical or administrative white collar workers who do not perform any manual work, as well as sales people not involved in deliveries.

White Collar

Light Blue

LUCRF Super members can apply for cover up to 85% of their pre-illness/injury salary. Up to 75% is paid as income and 10% is paid into your superannuation account (up to a maximum of $20,000 per month).

For skilled and unskilled workers, performing light manual work and involved in non-hazardous industries and/ or tasks. Light Blue also covers supervisors of heavy blue workers or fully qualified tradespeople (details of qualifications must be provided).

The cost of cover depends on various factors such as your age, gender, the type of work you do and the waiting period you choose (see table below). Your job and role will be confirmed before any insurance claim is accepted.

Heavy Blue

For skilled or semi-skilled manual workers and heavy machine operators who are not exposed to high risk accidents, health hazards or who do not participate in high risk occupations are classified Heavy Blue. Please note: Unskilled workers or unskilled labourers performing heavy blue tasks are not included in the occupation class and any cover requested needs an assessment of occupational risk by the Insurer. Please contact us if you are an unskilled worker and would like more information about Income Protection insurance.

Income Protection insurance: Weekly premium rates (in dollar amounts) per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Male

Female

Male

Male

16–20

0.23

0.23

0.12

0.13

0.08

0.09

21–25

0.24

0.24

0.12

0.13

0.08

0.09

Age next birthday

Female

Female

White Collar

26–30

0.25

0.27

0.13

0.15

0.08

0.10

31_35

0.31

0.35

0.16

0.20

0.08

0.11

36–40

0.41

0.48

0.21

0.28

0.11

0.15

41–45

0.56

0.65

0.30

0.39

0.17

0.24

46–50

0.79

0.88

0.43

0.53

0.28

0.37

51–55

1.15

1.19

0.68

0.77

0.49

0.58

56–60

1.75

1.65

1.04

1.07

0.87

0.85

61–65

1.99

1.73

1.22

1.11

0.99

0.80

16–20

0.40

0.43

0.24

0.26

0.16

0.18

21–25

0.42

0.45

0.25

0.27

0.17

0.18

Light Blue

26–30

0.45

0.51

0.27

0.31

0.16

0.21

31_35

0.54

0.67

0.32

0.40

0.17

0.22

36–40

0.72

0.91

0.43

0.56

0.22

0.30

41–45

0.99

1.24

0.61

0.79

0.35

0.48

46–50

1.39

1.67

0.87

1.07

0.56

0.75

51–55

2.03

2.27

1.37

1.54

0.99

1.17

56–60

3.10

3.15

2.10

2.15

1.76

1.72

61–65

3.52

3.29

2.46

2.23

2.00

1.61

16–20

0.59

0.63

0.34

0.38

0.21

0.23

21–25

0.61

0.65

0.36

0.39

0.22

0.24

Heavy Blue

26–30

0.66

0.74

0.39

0.45

0.21

0.27

31–35

0.79

0.97

0.47

0.59

0.22

0.29

36–40

1.05

1.33

0.62

0.81

0.29

0.39

41–45

1.44

1.81

0.89

1.15

0.46

0.63

46–50

2.03

2.44

1.26

1.56

0.74

0.98

51–55

2.96

3.30

1.99

2.24

1.30

1.54

56–60

4.51

4.58

3.05

3.13

2.30

2.25

61–65

5.13

4.79

3.57

3.24

2.61

2.10

The above rates include estimated stamp duty of 9%, and apply from 1 September 2009. Issued 22 June 2012

Insurance in your super

Insurance in your super


Choosing your cover You can apply for Income Protection insurance through LUCRF Super if you meet all of the following criteria: 1. You are between 15 and 64 years of age (cover stops at 65 years of age) 2a. You are working at least 15 hours per week on a permanent full-time or permanent part-time basis (not including casuals). OR

2b. You are a contractor working at least 15 hours per week and on a fixed-term contract of at least one year

b) T hen return to work in your usual occupation, or are capable of returning to your usual occupation, but only in a limited capacity. c) The salary you are earning or are capable of earning, is less than your pre-disability salary due to the injury or illness causing total disability or partial disability. d) Then return to work in another occupation and earning an income less than your pre-disability salary due to the injury or illness causing total disability or partial disability.

How it works

Eligibility to make a claim

Income Protection insurance has a ‘waiting period’ from the time you become ill or injured, to the time you are able to make a claim. This is to ensure that the cost remains low and affordable, given that people are ill and suffer injuries quite regularly throughout their lives, but not seriously enough to be unable to work for an extended period of time and need to make an insurance claim.

Before any claim is approved, it must first be assessed and accepted by our Insurer (ING Life Ltd).

LUCRF Super offers a choice of three different waiting periods:

Your claim will be approved if our Insurer accepts that you are:

• 30 days • 60 days, or • 90 days.

3. You are an Australian Citizen or an Australian Permanent Resident as defined in the Migration Act 1958 (Cth), and 4.

You are not an excluded member (see later in this section).

• Medically certified as being incapable of

performing one or more duties of your usual occupation necessary to produce income • Not engaged in any occupation, and • Following the advice of a medical practitioner. Partial benefits may be payable when you meet either (a), (b) and (c), OR (a) and (d), of the following criteria: a) You are no longer totally disabled, but have been totally disabled: • For a period during which a total disability benefit has been paid, or • For at least 7 days out of 12 consecutive days during the waiting period.

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You are able to choose which waiting period is best for you, though please be mindful that this decision will alter the cost of your cover. The waiting period begins when you are totally disabled, provided this date is after your income protection cover has started. If you return to work performing your normal duties during the waiting period, then the waiting period starts again, unless your return to work only happens once (for no more than five consecutive days). If this happens, then the number of days worked will be added to the waiting period.

HOW TO APPLY FOR INCOME PROTECTION COVER Please complete the Member Income Protection Form (at the back of this document) if your employer has made contributions for you. If you answer ‘yes’ to any of the health questions, please also complete the OnePath Personal Statement (available from our website or by calling us) and send both forms to us for assessment.

Personal Plan members Please complete the Personal Plan Member Income Protection Form (at the back of this document). Please also complete the OnePath Personal Statement (available from our website or by calling us) and send both forms to us for assessment. You will be notified in writing by the Fund if cover is accepted and the date from which it is accepted. The Insurer may ask you for additional information or medical assessment to support your application. If you have any further questions, please contact LUCRF Super on 1300 130 780.

Issued 22 June 2012

Insurance in your super

Insurance in your super


45

When cover ends

Exclusions

Your income protection cover ends on the earliest date of the following:

Benefit payments will not be made if your injury or illness is caused directly or indirectly:

You cease to be a member of LUCRF Super You provide written instructions cancelling your cover You reach 65 years of age (benefit expiry) You cease to be employed at least 15 hours per week You have insufficient funds in your super account to pay the premium • You commence service with the armed forces in any country (excluding regular reserve training), or • You pass away.

• By war or act of war • By your intentional self-inflicted act, or • As a result of your pregnancy, childbirth or miscarriage,

• • • • •

unless you are disabled for more than three months from the date the pregnancy finishes or disability commences. When this occurs, the disability will be taken as starting at the later date. If your disability has resulted because of an event not related to your pregnancy, then the pregnancy exclusion will not apply. Benefit payments may be reduced or refused:

• • • •

If the premium has not been paid While you are imprisoned If you do not comply with the claim requirements, or If you do not provide notice as soon as reasonably possible after your disability starts, to the extent the assessment or management of your claim is prejudiced.

Examples We have prepared two case studies as examples to show you how to calculate the amount of income protection cover you are eligible for, as well as how much it will cost.

Case study 1

Case study 2

Andrew

Connie

• 25 years old at his next birthday

• 36 years old at her next birthday

• Storeman (Heavy Blue)

• Office Administrator (White Collar)

• Weekly income of $588.24

• Weekly income of $941.18

• 90 day waiting period chosen

• 60 day waiting period chosen

Wants cover of

Calculate cover Cost (premium) per $100 weekly benefit Calculate cost (premium)

$500 per week (85% of weekly income)* $588.24 X 85% = $500 5 X $100 weekly benefit = $500 cover per week $0.22 per week

$0.22 X 5 = $1.10 per week $1.10 per week deducted from his super account quarterly

Wants cover of

Calculate cover Cost (premium) per $100 weekly benefit Calculate cost (premium)

$800 per week (85% of weekly income)* $941.18 X 85% = $800 8 X $100 weekly benefit = $800 cover per week $0.28 per week

$0.28 X 8 = $2.24 per week $2.24 per week deducted from her super account quarterly

*Paid as 75% salary and upto 10% paid into your LUCRF Super account.

Issued 22 June 2012

Insurance in your super

Insurance in your super


‘I wouldn’t think about any other super fund.’ Gary McNish LUCRF Super member since 1995

How to open an account • Joining through an employer • Joining our Personal Plan • Proof of identification • How to certify personal documents • Cooling-off period • Enquiries and complaints • Privacy


47

Over 184,000 everyday Australians are members of Australia’s first true industry super fund.

Personal Plan membership

They enjoy low fees, paying no commissions to advisors, and are members of a fund that is run only to benefit its members.

Where your employer will not be paying your super into your LUCRF Super account

You too can enjoy all these benefits and more! Have a look at the types of membership available and follow the steps to join – we’d love to welcome you as a member.

If your employer pays your SG contributions into another super fund (you may have a default fund for your workplace), you can still enjoy the benefits of LUCRF Super membership by opening a Personal Plan account.

Joining through an employer

If you are self-employed, not employed or want to open a spouse account and want to join LUCRF Super, you will be a Personal Plan member.

Where your employer will be paying your super into your LUCRF Super account Your LUCRF Super account is topped up by your employer, who pays the Superannuation Guarantee (SG) contributions on your behalf. Members can also top-up their account with their own contributions, either before-tax or after-tax. See our ‘How super works’ section. Members are automatically provided with default insurance cover of 1 unit of Standard Fixed Premium Death and TPD cover (see the ‘Insurance in your super’ section for more information).

Forms to complete (forms are available at the back of this document or on our website) 1

Choice of Super Fund Form

Complete your details on this form and hand it to your employer. It has a ‘Notice of Compliance’ on the back of the form, which your employer may need. We’ll open your account once we receive your first SG contribution and send you a Welcome Kit that includes all your account details and other helpful information about maximising your retirement nest egg. 2

Member Application Form

Fill in your details on this form and send it to us, or give it to your employer. This form allows you to provide your full contact details and tell us the best way to stay in touch. It also allows you to say whether or not you want to be in the Balanced (default) investment option or select mix your own choice of investment options. NOTE: If you wish to apply for insurance other than the default cover, please complete the Member Insurance Election Form or Member Income Protection Form. If you wish to choose investments other than the Balanced (default) option, or to mix your investment options, please complete the Member Investment Choice Form.

If you wish to apply for insurance cover, please read the ‘Insurance in your Super’ section of this document. If you wish to choose investments other than the Balanced (default) option, or to mix your investment options, please complete the Member Investment Choice Form.

Forms to complete (forms are available at the back of this document or on our website) 1

Personal Plan Member Application Form

Fill in your details on this form and send it to us with your certified ID and first payment (see below). This form allows you to provide your full contact details and tell us the best way to stay in touch. It also allows you to say whether or not you want to be in the Balanced (default) investment option or select or mix your own choice. 2

Provide your first payment

Fill in the first payment details on the application form and send it to us. Make sure to include your first payment or roll-in form, with certified identification. We open accounts for Personal Plan members when the first payment or rollover is received. You can make your first payment a number of ways, but you will need to complete details on the application form so we can open your account (see our ‘How super works’ section for payment options).

Cooling-off period – Personal Plan members Personal Plan members have a cooling-off period in which to cancel their membership in writing: 1

Within 19 days of the Fund receiving your application,  or

2

 ithin 14 days of the date your Welcome Kit and W membership details are dispatched to you.

If you cancel your membership during this period, any preserved and restricted non-preserved benefits will have to be transferred to another complying Australian superannuation fund or Retirement Saving Account (RSA). You will not be entitled to receive any investment returns, and your initial contribution may be reduced due to any taxation deductions made.

Issued 22 June 2012

How to open an account

How to open an account


Proof of identification When you join LUCRF Super’s Personal Plan or Pensions, are transferring in other super benefits, or are requesting a payout or transfer out of your super or pension, you will need to provide a certified copy of your proof of identification. The following are legally accepted documents:

Combine super accounts and reduce your fees If you are like most Australians and have had more than one job, you will most likely have more than one super account. This means you will be paying more than one set of fees, which can really eat away your hard-earned retirement savings!

One of these documents only:

Consolidating your super into one account can be one of the most important super activities you do to help grow your super for a comfortable and enjoyable retirement.

• Driver’s licence issued under State or Territory law, or • Passport.

It’s a lot easier than you think!

EITHER

OR One of the documents in Section 1, and One of the documents in Section 2. Section 1 • Birth certificate or birth extract • Citizenship certificate issued by the Commonwealth, or • Pension card issued by Centrelink that entitles the

person to financial benefits.

AND Section 2 • Letter from Centrelink regarding a Government

assistance payment, or

48

Simply complete the Transfer Between Funds Form at the back of this document and send it directly to us with a certified copy of your ID for each fund you wish to transfer (see left for how to certify your ID). That’s it! We will do all the hard work for you. We will notify you when your other super money has been received by LUCRF Super or if your request can not be completed for some reason. Please note: You will need to lodge an individual Transfer Between Funds Form and a certified copy of your ID for each super account you wish to transfer into LUCRF Super. Your other funds may charge exit fees and leaving could affect your insurance cover. Check with your other funds if you are unsure. If you need help consolidating your super, call us on 1300 130 780 and request a LUCRF Representative to visit you or your workplace.

• Notice issued by Commonwealth, State or

Territory Government or local council within the past 12 months that contains your name and residential address. For example: • Tax Office Notice of Assessment, or • Rates notice from local Council.

Certification of personal documents All copied pages of ORIGINAL proof of identification (including all linking documents) need to be certified as true copies of the original document by a person authorised to do so. The person who is authorised to certify the documents must sight the original and the copy to make sure that both documents are identical. They then must ensure that all pages are certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualifications and the date.

Super search consent As part of your Member Application Form, you will notice a section on providing super search consent. By providing LUCRF with super search consent, the Fund can search Australian Tax Office databases on your behalf, for reasons such as lost super. For more information on super search consent, including how to provide LUCRF Super with your consent, see in the ‘How super works’ section of this document.

Lost super When you’re completing the joining process with LUCRF Super, why not check to see if you have ‘lost’ or unclaimed super that is currently registered with the Australian Tax Office? More information on lost super, including how to locate possible funds, can be found in the ‘How super works’ section of this document.

In accordance with Anti-Money Laundering and CounterTerrorism Financing Rules Instrument 2007 (No.1), some persons that can certify copies of the originals as true and correct for these purposes include: A Pharmacist A registered Medical Practitioner A Police Officer A permanent employee of Australia Post with two or more years continuous service • An officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having two or more years of continuous service. • • • •

Issued 22 June 2012

How to open an account

How to open an account


49

Enquiries and complaints

Protecting your privacy

The Trustee treats complaints seriously and has a formal procedure for handling your enquiries and complaints fairly and confidentially.

The Trustee for LUCRF Super understands the importance of looking after the privacy of its members and takes every care to protect it. Our Privacy Policy outlines why LUCRF Super needs your personal information, how it is used and how we protect it.

How can I make an enquiry or complaint? Complaints can be made in a variety of ways (e.g. in a letter, by email, by telephone, or in person). Any written complaint should be addressed to: The Complaints Officer, LUCRF Pty Ltd PO Box 211, North Melbourne VIC 3051 Email: my partner@lucrf.com.au To assist, please provide details of your full name, membership number and current address. We will endeavour to deal with your complaint as promptly as possible and certainly within 90 days as required by Government legislation. All complaints are formally recorded and reported to the Trustee.

What if I am not satisfied with LUCRF Super’s handling of my complaint? If you are not satisfied with the way your complaint is handled or with its resolution, you may be able to take your complaint to the Superannuation Complaints Tribunal (SCT). The SCT is an independent body set up by the Federal Government to assist members or their beneficiaries to resolve certain superannuation complaints. The SCT may be able to assist you to resolve your complaint, but will only become involved after you have made use of the Trustee’s own complaint-handling process. To find out whether the SCT can handle your complaint and the type of information you need to provide. You can contact the SCT as follows: Superannuation Complaints Tribunal Locked Bag 3060 Melbourne VIC 3001 Phone: 1300 884 114 Web: www.sct.gov.au If your complaint is outside the jurisdiction of the SCT and you are not satisfied with the handling of your complaint, or you have not received a response within 45 days, you may then be able to take your complaint to the Financial Ombudsman Service (FOS). You can contact the FOS as follows: Financial Ombudsman Service GPO Box 3 Melbourne VIC 3001 Phone: 1300 780 808 Web: www.fos.org.au

The Privacy Act 1988 (Cth), as amended, regulates through a set of requirements known as the National Privacy Principles, the way a fund and its service providers collect, store, use and disclose information in its possession and how the information is made known to others. The National Privacy Principles as embedded in the Act forms part of our procedures and policies in managing participation in the Fund. Our full Privacy Policy is available at www.lucrf.com.au or by calling us on 1300 130 780.

Information collected by LUCRF Super LUCRF Super collects personal information lawfully and by fair means. We only collect information that is relevant for the purposes detailed in our Privacy Policy. We are a self administered fund using an administration system that contains records exclusively of LUCRF Super members and employers. Our database is not shared with an external administrator or with other outsourced superannuation funds. Employees of the Trustee have varying degrees of access to information appropriate to the role of the individual and specific functions they are authorised to perform.

Providing information to other organisations From time to time, LUCRF Super uses external organisations to support some functions connected with the administration of super and pension accounts. Whenever your personal information is made available to other organisations (as detailed in our Privacy Policy), the Trustee ensures it is kept secure, confidential, and is only accessed by authorised personnel and handled in accordance with the National Privacy Principles. On occasion, the Trustee commissions research consultants to undertake random opinion surveys of fund participants. Only your name and contact information is provided for these purposes. This research helps us to improve our services and offerings to members. Although LUCRF Super does not engage in direct marketing, we may contact you about products and services that are available to you (e.g. retirement planning, seminars, newsletters or information about third party services). If you do not wish to receive information of this type, please contact us.

Maintaining and accessing your personal information Under the Privacy Act 1988, you have the right to check and/or update your personal information. The Privacy Act contains some exceptions to the circumstances in which some or all of the information can be provided. To find out about how to obtain a copy of your personal information from LUCRF Super, please contact us on 1300 130 780.

Making a complaint If you believe your privacy rights have been breached, you can make a complaint by contacting us. Contact details are available on our full Privacy Policy which is available at www.lucrf.com.au, or by calling us on 1300 130 780.

Issued 22 June 2012

How to open an account

How to open an account


How to open an account

The Government has enacted the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF Act) which applies to most financial services providers including super funds. The Trustee has implemented controls to fulfil its compliance obligations, under the legislation, to protect member benefits. These controls are monitored and reviewed on an ongoing basis, as required. The purpose of the AML/CTF Act is the regulation of financial services and transactions in a way that will help detect and prevent money laundering and terrorism financing. You should be aware that as part of our compliance with these laws: • The Trustee may need to obtain additional information

when you make a withdrawal from your account including proof of identification, and • The Trustee is required to disclose information about suspicious transactions to the regulator and/or law enforcement agencies. The legislation prevents the Trustee from informing you when any such reporting has taken place.

Communicating with you LUCRF Super provides you with information regularly in a number of ways. If you change your mailing or email address, please advise LUCRF Super at your earliest convenience so we can ensure you still receive all of this material. During your membership with LUCRF Super, you can expect to receive the following, or have access to: • An initial Welcome Kit • Confirmation of any change of details (e.g. change of

name, address, beneficiary etc.)

• An annual statement each financial year showing all

transactions

• Member newsletters which will notify you of any

important changes that will affect your membership, and • Email and SMS information and invitations to education seminars. You can access our Annual Report and information regarding LUCRF Super, via our website at www.lucrf.com.au. For further details, or to register for Members Online, please contact us directly on 1300 130 780 or email us at mypartner@lucrf.com.au

Visiting our web and internet access LUCRF Super maintains a website, www.lucrf.com.au, providing electronic access to educational material, forms and general information about the Fund. We collate statistical information about the areas of our site accessed and pages downloaded to understand the areas that are of most interest to site visitors. Our website is cookie-free and we do not collect, store or track any personal information about you when browsing or accessing our website. If you communicate with LUCRF Super by email, we will record your email address and use this as a means to contact you, but will only use it for the purposes communicated in our Privacy Policy.

Issued 22 June 2012

How to open an account

Anti-money laundering and counter terrorism financing

50


51

‘I’m more confident about my retirement than I would be if I was with some other fund.’ Wayne Howie LUCRF Super member since 1991

LUCRF Pensions

Tax-effective income streams for 55+ Reaching 55 years of age can be an exciting time!

Are you eligible? To set up a LUCRF Pension account, you need to be at ‘preservation’ age (see below), or have unrestricted access to any superannuation benefits. Preservation age

It is a chance to benefit from tax advantages and improve your financial situation, whether you are working or not.

Date of birth

Your preservation age

Before 1 July 1960

55

After working hard throughout your life, you want to ensure that every dollar you have, now and in the future, goes as far as it can.

1 July 1960 – 30 June 1961

56

1 July 1961 – 30 June 1962

57

1 July 1962 – 30 June 1963

58

1 July 1963 – 30 June 1964

59

After 30 June 1964

60

LUCRF Pensions allow you to use your super, and any other savings, to create a source of income whilst still investing for future growth.

Why choose LUCRF Pensions? • Regular payments to boost or replace your

Centrelink payments – how our Retirement Pension can help

A big issue to consider in retirement is your potential entitlement to the Age Pension. To qualify, the Federal Government applies an income and assets test. The outcome of this test is treated differently depending on whether you stay in super or commence a retirement pension income stream. Our Retirement Pension offers an exemption for part of your pension income.

• • • • • •

employment income Choice of payment frequency (twice-monthly, monthly, quarterly, twice-yearly or yearly) Choose which investment option you want your benefit payments drawn from (if you have nominated more than one investment option) No commissions Extremely low administration and management costs Choice of investment options to suit your investment preference No start-up or exit fees Regular updates on investment performance, and Personal and friendly service (real people, not machines!).

Want to know more? Our LUCRF Representatives are here to talk to you in person or over the phone about LUCRF Pensions. Alternatively, you can read our Pension Member Guide. Call us today on 1300 130 780 and ask to speak with our LUCRF Representatives for personal financial advice or assistance.

Issued 22 June 2012

How to open an account

How to open an account


52

Financial Services Guide Financial Services Guide (FSG) for the Labour Union Co-operative Retirement Fund This Financial Services Guide (FSG) for LUCRF Pty Ltd (the Trustee of LUCRF Super) ABN 18 005 502 090 was prepared and issued for the purpose of providing information about: • The services we offer • How our Representatives are remunerated • Our complaint management and dispute resolution

arrangements, and

• Your rights as a member, employer sponsor or anyone

thinking about becoming a member of the Fund. Our FSG is an important document prepared to assist you in deciding whether to use any of the financial services or products we are authorised to provide. If you require further information or clarification about this FSG please contact us.

What are the financial services LUCRF Pty Ltd is authorised to provide?

Under our Australian Financial Services Licence (AFSL 258481), the Trustee is licensed to advise and deal in the following products: Deposit (basic and non-cash payment) General insurance Life insurance (investment and risk) Managed investment schemes, including investor directed portfolios • Superannuation and retirement savings accounts • Securities, and • Government debentures, stocks or bonds. • • • •

Will you give me advice tailored to my personal investment needs or financial circumstances?

Our Representatives are authorised to provide advice within a tiered structure: • Tier 1 can provide information or facts only. This means

that they are not permitted to try to influence any decision you may make. • Tier 2 can provide general financial product advice. This means that they can try to influence any decisions you make, however they cannot take into consideration your personal circumstances or objectives when doing so. Advice at this tier will usually be verbal and must be accompanied by a warning that your personal circumstances have not been considered. • Tier 3 can provide personal advice on LUCRF Super. This means they can make recommendations that are appropriate or specific to your needs or objectives, however this advice can only relate to LUCRF Super. Advice at this tier will be provided via a written Statement of Advice. • Tier 4 can provide personal advice on the entire suite of products authorised by our licence. Advice at this tier will be provided by a written Statement of Advice. Each Representative will inform you regarding the tier that they can operate under. If they are unable to provide the service at the tier that you require, they will refer you to a Representative who is permitted to do so.

How will I pay for this service? The cost of providing financial product advice in Tiers 1 to 3 is included in the general administration fee charged for membership of LUCRF Super; we do not charge any additional fees or obtain any commissions for the advice provided to you. For advice provided at Tier 4, a fee may apply, however this will be agreed with you prior to providing the advice. Details of fees charged for membership of LUCRF Super can be found in the LUCRF Super Member Essentials.

Issued 22 June 2012

Financial Services Guide (FSG)

Financial Services Guide (FSG)


How are Representatives paid?

What to do if you have a complaint

Licence and contact details

The Complaints Officer PO Box 211 North Melbourne VIC 3051

All LUCRF Super Representatives are salaried employees and they do not receive commissions, fees or bonuses for the services provided to you.

Who will be responsible for the services provided to me? The Trustee of LUCRF Super is LUCRF Pty Ltd and all Representatives of LUCRF Super are employees of the Trustee. The Trustee is responsible for all Representatives and it can be contacted as follows. Address: 833 Bourke Street, Docklands VIC 8003 Post: PO Box 211, North Melbourne VIC 3051 Phone: 1300 130 780 Email: mypartner@lucrf.com.au Web: www.lucrf.com.au

Do any relationships or associations exist that might influence the advice or services provided to me? The National Union of Workers (NUW) which owns all of the shares in LUCRF Pty Ltd. The NUW currently has a profit sharing agreement with IFS Insurance Broking Pty Ltd (ABN 16 070 588 108). LUCRF Super holds shares (but not a controlling interest) in Industry Super Holdings Pty Ltd (ABN 71 119 748 060) which owns ME Bank Pty Ltd (ABN 56 070 887 679). If LUCRF Super engages these organisations to provide services then this is done on a commercial basis, as all service providers are. LUCRF Super does not receive commissions from these or any other organisations.

What compensation arrangements does the Trustee have in place? The Trustee has a Trustee Liability Insurance Policy which includes professional indemnity to compensate third parties such as members or beneficiaries for loss or damages suffered because of breaches to any relevant financial services obligations by LUCRF Super or its Representative either current or former.

53

The Trustee of LUCRF Super treats complaints in the strictest of confidence and is committed to handling such concerns promptly and fairly. You can raise your complaint either with your Representative or write to:

LUCRF Super has an internal complaints management procedure. However, if you are not satisfied with the handling of your complaint or you have not received a response within 90 days, you may be able to take your complaint to the Superannuation Complaints Tribunal (SCT).

Superannuation Complaints Tribunal Locked 3060 GPO Melbourne VIC 3001 Phone: 1300 884 114 Web: www.sct.gov.au This is a free service. If your complaint is outside the jurisdiction of the SCT and you are not satisfied with the handling of your complaint, or you have not received a response within 45 days, you may be able to take your complaint to the Financial Ombudsman Service (FOS).

Financial Ombudsman Service GPO Box 3 Melbourne VIC 3001 Phone: 1300 780 808 Web: www.fos.org.au This is a free service. The Australian Securities and Investment Service (ASIC) also has an infoline on 1300 300 630 which you may use to make a complaint and obtain information about your rights.

Issued 22 June 2012

Financial Services Guide (FSG)

Financial Services Guide (FSG)


Forms

Forms

Personal Plan member forms

Use these forms if you will be receiving employer contributions to your superannuation account.

Use these forms if you are self-employed or only making personal or spouse contributions to your superannuation account.

The Fund has automatic default life insurance cover plus an extensive range of other services and benefits for you, including access to personal financial advice, options to make tax effective personal contributions and receive salary sacrifice contributions from your employer.

The Personal Plan has options for cost effective life insurance cover and income protection plus an extensive range of other services and benefits for you including access to personal financial advice and options to make tax effective personal contributions

Forms

Forms

1

Member Application

1

Member Application

2

Member Investment Choice

2

Member Investment Choice

3

Member Insurance Election

3

Member Insurance Election

4

Member Income Protection

4

Member Income Protection

5

Request for Payroll Deduction

5

Transfer Between Funds Form* (including Notice of Compliance)

6

Choice of Super Fund

7

Transfer Between Funds Form* (including Notice of Compliance)

Important Do not use these forms if you will be receiving employer contributions to your super

*Request to transfer whole balance of superannuation benefits between funds

•

!


Member Details form Member Application Form

w

Complete this form to become a member of LUCRF Super and you have an employer contributing into this account. Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Step 1 Your personal details Date of birth (dd/mm/yyyy) /

/

Please cross ✗ the appropriate box:

Mr

Mrs

Miss

Ms

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address – if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Contact details Home

Work

Mobile

Fax

Email address

Step 2 Tax file number (TFN) We will use your TFN in confidence and only for legal purposes, which may change in the future as a result of legislative change. You do not have to provide your TFN, but if you don’t, we will not be able to accept after-tax contributions from you and will have to deduct tax at the highest marginal rate plus the Medicare Levy. Please refer to our Super Member Guide Product Disclosure Statement for further information, available at www.lucrf.com.au or call 1300 130 780. I advise that my TFN is: Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883

001.3 Member Application Form

Super Member Guide (Product Disclosure Statement), 22 June 2012.

Page 1 of 5

LUCRF0512_290312

The Fund is authorised to seek your TFN under the Superannuation Industry (Supervision) Act 1993.


Step 3 Super Search consent You can authorise LUCRF Super to use your Tax File Number (TFN) (if provided) to search and act on your behalf to consolidate your super. Please cross [X] below to provide consent.

I hereby consent for LUCRF Super to act on my behalf and use my Tax File Number (TFN) for superannuation purposes. I consent for my TFN to be used to seek superannuation information and consolidate, using the ATO facility and contacting other superannuation entities or RSA providers for information relating to myself.

This consent will remain in place until cancelled by you. LUCRF Super will only use your TFN in accordance with your consent.

Step 4 Your beneficiary details When you open a LUCRF Super account, it is important that you carefully consider who you wish to receive your superannuation benefit in the event of your death. LUCRF Super offers either non-binding or binding nominations. To make a non-binding nomination please complete relevant details in option 1 below. To make a binding nomination in option 2 below, you will need to complete a Binding Death Benefit Nomination Form.

Option 1 Non-binding nomination This type of nomination is used as a guide for the Trustee when deciding how your death benefit (super and any insurance amount) will be distributed. To advise the Trustee of your preferred nomination, please list your beneficiaries below or select to have your death benefit paid to your estate/legal personal representative/executor. First name and initial (e.g. John D)

Relationship to you

Surname

% share

First name and initial (e.g. John D)

Relationship to you

Surname

% share

First name and initial (e.g. John D)

Relationship to you

Surname

% share

First name and initial (e.g. John D)

Relationship to you

Surname

% share

Must total 100%

Pay benefit to my estate/legal personal representative/executor If you would like to nominate more beneficiaries, attach your own list to this form, or call a LUCRF Representative on 1300 130 780 to obtain a Change of Details Form.

Option 2 Binding nomination This type of nomination means the Trustee must pay your death benefit to the person(s) you have nominated (subject to superannuation law). Binding nominations are valid for three years and you will need to confirm your nomination within this period for it to remain valid. You can change or cancel your nomination at any time. IMPORTANT: If you would like to choose this option, you must complete a Binding Death Benefit Nomination Form available by calling us on 1300 130 780, or by visiting www.lucrf.com.au

001.3 Member Application Form

Page 2 of 5


Your default cover When you first join LUCRF Super and you have an employer who pays super contributions into your account, you are automatically allocated the following insurance: Up to 64 years of age

1 unit of Standard Fixed Premium Death and Total & Permanent Disablement (TPD) cover ($2.00 per week*)

Aged 65-69 years

1 unit of Standard Fixed Premium Death & restricted TPD cover (for specific loss, loss of independent existence and cognitive loss only) ($2.00 per week*)

Aged 70 and over

No insurance.

*Cost of insurance is deducted directly from your super account

Changing your default cover You can apply to change your insurance cover to a maximum of $2,000,000 at any time as detailed below.

Within 90 days of joining When you first join LUCRF Super, or within 90 days from the date of your welcome letter, you have the opportunity to increase your insurance up to our Automatic Acceptance Levels without having to provide any medical evidence or answer any health questions. The Automatic Acceptance Levels (Fixed Premium cover) are: • Up to 4 units of Death & TPD, or • Up to 6 units of Death Only. To change your default insurance cover to within these levels, please complete Step 5 of this form. (If you have already completed a Member Application Form, you will need to complete a Member Insurance Election Form). If you would like to apply for insurance above these levels, you must complete a Member Insurance Election Form, and if required a OnePath Personal Statement.

After 90 days of joining If you want to change your cover after 90 days of your welcome letter, you will need to complete a Member Insurance Election Form, and if required a OnePath Personal Statement. Insurance eligibility is at the discretion of the insurer.

Fixed Premium and Fixed Amount cover

LUCRF Super offers two types of Death & TPD and Death Only cover, these are:

Fixed Premium (default) This is LUCRF Super’s default cover and is where the cost of your insurance (premiums) is a fixed cost per unit. Whilst the premium remains the same, the total insured amount will reduce as you age.

Fixed Amount This type of cover provides a specific dollar amount of insurance. Whilst the amount of cover is fixed and does not change, the premium you pay will increase as you get older. If you would like to apply for Fixed Amount cover, you will need to complete a Member Insurance Election Form.

Fixed Premium The table below shows the amount and cost of Fixed Premium cover available from LUCRF Super.

Fixed Premium Standard Age at next birthday Up 31 36 41 46 51 56 61 66

to to to to to to to to to

Death & TPD $2 per week per unit of cover

30 35 40 45 50 55 60 65 70

$100,400 $98,400 $79,200 $44,100 $22,100 $12,400 $7,300 $6,600 $4,500*

White Collar

Death Only $1 per week per unit of cover $67,600 $50,900 $50,900 $38,100 $22,100 $22,100 $22,100 $19,800 $12,500

Death & TPD $2 per week per unit of cover $172,400 $168,900 $136,100 $75,700 $37,900 $21,300 $12,700 $11,400 $7,500*

Death Only $1 per week per unit of cover $116,100 $87,400 $87,400 $65,500 $37,900 $37,900 $37,900 $34,000 $22,000

*TPD cover is restricted to specific loss, loss of independent existence and cognitive loss only. Please refer to our Super Member Guide for further details.

001.3 Member Application Form

Page 3 of 5


Step 5 Increase your insurance cover (when joining or within 90 days from the date of your welcome letter) If you would like to increase your insurance cover within our Automatic Acceptance Levels, please complete the section below. You must select only one insurance product (Death & TPD or Death Only) and the total number of units you would like to be insured for.

Death & TPD Fixed Premium cover Number of units (cross [X] one box only)

or

Death Only Fixed Premium Cover Number of units (cross [X] one box only)

1 unit ($2 per week)

3 units ($6 per week)

1 unit ($1 per week)

4 units ($4 per week)

2 units ($4 per week)

4 units ($8 per week)

2 units ($2 per week)

5 units ($5 per week)

3 units ($3 per week)

6 units ($6 per week)

If you would like to apply for insurance above these levels, you must complete a Member Insurance Election Form, and if requested a OnePath Personal Statement.

Step 6 Your work category To ensure you receive the correct insurance cover you need to select a work category that best represents the type of work you do. Please cross [X] the work category that best applies to you. If you don’t make a selection, you will automatically receive the Standard Fixed Premium (default) cover.

Standard (default) For members whose work includes some degree of manual labour usually conducted outside an office environment.

White Collar Where the duties of your occupation are limited to professional, administrative, clerical, secretarial, or similar deskbound (sedentary) tasks that do not involve manual work and are undertaken entirely (or at least 80%) within an office environment.

NOTE: If any of your circumstances change (including your work category or personal details) please advise LUCRF Super as soon as possible, as it is important that we have your correct details. In the event of a claim, the Insurer will assess your work category and details, which may affect any insurance payout. Insurance eligibility is at the discretion of the insurer. Please call a LUCRF Representative on 1300 130 780 to update your insurance details if they change in the future.

Step 7 Your employment details Employer name

Dated joined employer (dd/mm/yyyy) /

Employer phone number

/

Employer site/location (if applicable)

Workplace address Unit/Street number

Suburb/City/Town

Street name

State/Territory Postcode

001.3 Member Application Form

Page 4 of 5


Member investment choice When you join LUCRF Super your account is automatically invested in the Balanced (default) investment option, if you do not make a choice. This option has a diversified mixture of growth assets such as shares and property, and defensive assets like cash and fixed interest. If you want your super invested differently to the default option, you will need to complete a Member Investment Choice Form. There is a choice of nine investment options that are Pre-mixed or Asset Class (see table below). You can choose one option or a mix of options.

Pre-mixed investment options

Asset Class investment options

Each option is made up of a blend of growth and defensive asset classes (diversified)

Each option invests solely in a particular asset class

Balanced (default)

Cash

Conservative

Indexed Shares

Moderate

Australian Shares

High Growth

International Shares Property

Step 8 Members Online access Members Online allows you 24 hour access to check your balance history, update your contact details, see what payments have been made in or out of your account, check your investment options, look at who your beneficiaries are and other information. If you would like access to Members Online, please cross [X] the box below and you will be sent a letter with your Members Online details. I would like access to Members Online

Step 9 Your communication choices We will send your annual statement, newsletter updates and other important information as required by legislation, however if you do not wish to receive additional information from time to time, please indicate this below (you can alter your preference at any time by contacting us). I do not wish to receive additional information from LUCRF Super

Step 10 Sign and date this form • I hereby apply to the Trustee to join LUCRF Super upon the terms and conditions contained in the Trust Deed (as amended from time to time) • I acknowledge that I have read and understood the information in the Super Member Guide and this Member Application Form, including the collection and use of my personal information, and • I confirm that all of the details provided in this Member Application Form are accurate and complete. I undertake to inform the Trustee if any of my information changes and will provide further information as requested. Sign (member signature)

7

Date (dd/mm/yyyy)

/

Checklist

Send this form to:

Before you send the form to us, make sure you have:

LUCRF Super PO Box 211 North Melbourne VIC 3051

3 3

Completed all relevant steps Signed and dated this form

/

Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au PRIVACY: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy, call us on 1300 130 780 or visit www.lucrf.com.au 001.3 Member Application Form

Page 5 of 5


Member Details form

Member Investment Choice Form

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Complete this form if you want to change the way your super account is invested. Note: You can also change your investment option via a Members Online account, contact us to register. When you open a LUCRF Super account, your contributions are automatically invested in the Balanced (default) investment option, if you do not make a choice. This option has a diversified mixture of growth assets such as shares and property, and defensive assets like cash and fixed interest. Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address – if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Contact details Home

Work

Mobile

Fax

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883

020.3 Member Investment Choice Form

Super Member Guide (Product Disclosure Statement), 22 June 2012.

Page 1 of 3

LUCRF0512_050512

Email address


Step 2 Your investment choice – existing balance Complete this section if you would like to nominate or change the way your super account is invested. There is a choice of nine different investment options. You can choose one option or a mix of options. Please invest my existing LUCRF Super account balance as indicated below: (use whole numbers only – no fractions) Pre-mixed investment options Balanced (default) Conservative Moderate High Growth

% % % %

When you open a LUCRF Super account, your contributions are automatically invested in the Balanced (default ) investment option if you do not make a choice. This option has a diversified mixture of growth assets such as shares and property, and defensive assets like cash and fixed interest.

Asset Class investment options %

Cash Indexed Shares Australian Shares International Shares Property

% % % % MUST TOTAL 100%

Step 3 Your investment choice – future contributions Complete this section if you would like to change the way your future contributions are invested. Please cross [X] one box below to indicate how you would like your future contributions invested. Invest my future contributions the same way as my existing balance (see Step 2) Invest my future contributions differently to my existing balance (nominate below) If you select this option you must complete the section below. Please invest future contributions paid to my LUCRF Super account as indicated below: (use whole numbers only – no fractions) Pre-mixed investment options Balanced (default) Conservative Moderate High Growth

% % % %

Asset Class investment options Cash Indexed Shares Australian Shares International Shares Property

% % % % % MUST TOTAL 100%

020.3 Member Investment Choice Form

Page 2 of 3


Member investment switches Member investment switches received for current existing balance and future contributions take effect as follows: Existing balances: An application to change investment option for an existing balance is effective the day after the valuation of assets for those requests received by 5pm EST on the day of valuation. Assets are typically valued on a Monday. Future contributions: Receive the net cash rate from the date of receipt to the next valuation date, and the investment return for the selected investment option after valuation date.

Calculating investment returns 1. LUCRF Super values assets weekly and uses weekly rates to allocate net investment earnings to members. 2. Valuations typically occur each Monday during the month and at month end. 3. Valuations may not occur on a Monday for the following reasons: • When the first Monday of the month is within the first three business days of the month, the valuation is typically deferred to the following Monday • When the last Monday of the month is within the last three business days of the month, the valuation is typically deferred to month end, or • Where Monday is a public holiday, investments will be valued on the next business day. 4. The valuation process uses the closing prices in the Australian and overseas markets in which we have investments. Unlisted investments and real estate assets are valued less frequently. We use the most recent valuation available. 5. These rates allocate net investment earnings to members based on daily account balances. Investment returns are applied to members’ accounts.

When (the earliest of): • When a benefit is paid • When an accumulation balance is transferred to a pension account • When a change to investment options is processed • Effective 30 June each year.

6. Contributions and transfers in receive the net cash rate from the date of receipt to the next valuation date, and the investment return for the selected investment option after valuation date. 7. Financial year-to-date and historical rates are shown on LUCRF Super’s website, www.lucrf.com.au

Step 4 Sign and date this form • I acknowledge that I have read and understand the information contained in the current Super Member Guide in respect of investment choices, and • I understand that my request to select or change an investment option will be processed and investment returns applied in accordance with the procedures set out above. Sign (member signature)

7

Date (dd/mm/yyyy)

/

Checklist

Send this form to:

Before you send the form to us, make sure you have:

LUCRF Super PO Box 211 North Melbourne VIC 3051

3 3 3

Completed all relevant steps Made sure your investment percentages equal 100%

/

Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

Signed and dated this form

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au

PRIVACY: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy, call us on 1300 130 780 or visit www.lucrf.com.au 020.3 Member Investment Choice Form

Page 3 of 3


Member Details form Member Insurance Member Insurance Election FormForm Election

w

Complete this form if you want to apply for or change your Death and Total & Permanent Disablement (TPD) or Death Only insurance cover. Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Insurance Your options LUCRF Super offers a range of insurance options that gives you the flexibility to tailor insurance cover to best suit your personal circumstances. Note: Insurance eligibility is at the discretion of the insurer. Your insurance options are as follows:

LUCRF Super insurance options Products

Types of cover

Death & TPD Provides a benefit to you if you become totally and permanently disabled (upon acceptance) or to your dependants, nominated beneficiaries or legal personal representative in the event of your death.

Fixed Premium or Fixed Amount

Work categories Standard or White Collar

Death Only Provides a benefit to your dependants, nominated beneficiaries, or your legal personal representative (your estate) in the event of your death (upon acceptance).

Fixed Premium or Fixed Amount

Standard or White Collar

Income Protection Provides you with temporary financial support if you are unable to work through illness, injury or accident (upon acceptance). You must complete a Member Income Protection Form if you want to apply for this cover.

Fixed Amount 30, 60 or 90 Day waiting period

Light Blue Heavy Blue, or White Collar

Types of cover • Fixed Premium (default) This is where the premium (cost) of your insurance is set at a fixed cost per unit. Whilst the premium remains the same, the total insured amount will reduce as you age. • Fixed Amount This type of cover provides a specific dollar amount of insurance. Whilst the amount of cover is fixed and does not change, the premium you pay will increase as you age.

Work categories To reflect the various risks associated with the different jobs people do, there are two work categories for Death and TPD or Death Only insurance; Standard and White collar. • Standard (default) For members whose work includes some degree of manual labour usually conducted outside an office environment.

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

050.3 Member Insurance Election Form

Page 1 of 7

LUCRF0512_080512

• White Collar Where the duties of your occupation are limited to professional, administrative, clerical, secretarial, or similar deskbound (sedentary) tasks that do not involve manual work and are undertaken entirely (or at least 80%) within an office environment.


How to complete this form Fixed Premium or Fixed Amount cover Please use the guide below to help you complete this form and to ensure you only complete the required steps.

Fixed Premium cover Death & TPD and Death Only

Fixed Amount cover Death & TPD and Death Only

Case study 1

Case study 2

Max

Helen

Insurance goal:

Insurance goal:

To have enough Death & TPD insurance so that his family could pay off the mortgage and debts as well as having a bit left over, if something were to happen to him.

To lock in a fixed amount of Death & TPD cover so that her family could pay off the mortgage and put aside some money for the children’s education, if something were to happen to her.

Fixed Premium cover • • • • •

38 years old Forklift Driver (qualifies for Standard Fixed Premium cover) Mortgage of $180,000 Other debts of $15,000 Married with two children.

Wants cover of

$230,000 (approximately)

Fixed Amount Cover • • • • •

36 years old Payroll Manager (qualifies for White Collar Fixed Amount cover) Mortgage of $300,000 Other debts of $9,000 Married with four children.

Wants cover of $400,000 (approximately)

Cover available per unit $79,200 (based on job and age)

Cover available per unit $1,000 per unit (based upon job and age)

Selects the following

3 units of Death & TPD Fixed Premium cover

Selects the following

400 units of Death & TPD Fixed Amount cover

Is covered for

$237,600

Is covered for

$400,000

How it is calculated

 unit of Standard Fixed Premium Death & 1 TPD cover for a 38 year old = $79,200

How it is calculated

1 unit of White Collar Fixed Amount cover Death & TPD for a 36 year old = $1000 which costs $0.76 per year.

If Max wants to be covered for $230,000 he multiplies $79,200 (1 unit) x 3 = $237,600

If Helen wants to be covered for $400,000 she multiplies $1,000 (1 unit) x 400 = $400,000

1 unit of Death & TPD cover for a 38 year old costs $2 per week 3 units of Death & TPD cover = $2 per week x 3 units Total cost of cover selected

$6 per week (deducted from Max’s super account quarterly)

400 x $0.76 (cost for 1 unit) = $304.00 premium per year Total cost of $304.00 divided by 52 weeks in a year = cover selected $5.85 per week (deducted from Helen’s

super account quarterly)

Steps you must complete: ✔ Step 1 Your personal details ✔ Step 2 Fixed Premium cover ✔ Step 6 Sign and date this form

Steps you must complete: ✔ Step 1 Your personal details ✔ Step 3 Fixed Amount cover

Steps you may need to complete:

✔ Step 5 Health questions

? Step 5 Health questions

✔ Step 6 Sign and date this form

If you are applying for cover above our Automatic Acceptance Levels, you will need to complete Step 5.

Automatic Acceptance Levels When you first join LUCRF Super, or within 90 days from the date of your welcome letter, you have the opportunity to increase your insurance up to our Automatic Acceptance Levels without having to provide any medical evidence or answer any health questions.

Step you may need to complete:

? OnePath Personal Statement If you are applying for more than $750,000 of Fixed Amount cover, you must also complete and attach a OnePath Personal Statement.

The Automatic Acceptance Levels (Fixed Premium cover) are: •

Up to 4 units of Death & TPD, or

Up to 6 units of Death Only.

? OnePath Personal Statement If you are applying for more than 7 units or $750,000 of Fixed Premium cover, you must also complete and attach a OnePath Personal Statement.

Converting your cover (for an equivalent amount of cover only) If you would like to convert your existing insurance between Fixed Premium and Fixed Amount cover, you only need to complete Steps 1, 4 and 6 of this form. IMPORTANT: If you want to convert your existing insurance between Fixed Premium and Fixed Amount cover AND change the amount of cover you currently have, you need to also complete either step 2 or 3. To increase your insurance cover, please refer to ‘How to complete this form’ above for further instructions. 050.3 Member Insurance Election Form

Page 2 of 7


Member Insurance Election Form Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address – if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Contact details Home

Work

Mobile

Fax

Email address

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

050.3 Member Insurance Election Form

Page 3 of 7


Step 2 Fixed Premium cover Only complete this step if you are applying for or changing your Fixed Premium cover. Fill in the relevant table below to select the type of insurance and the total number of units you wish to apply for. D  eath and TPD insurance cover This type of cover costs $2 per week per ‘unit’ of cover Standard cover

Death Only insurance cover This type of cover costs $1 per week per ‘unit’ of cover

White Collar cover

Standard cover

White Collar cover

Your age at next birthday

Per unit

$172,400

Up to 30

$67,600

$116,100

$98,400

$168,900

31 to 35

$50,900

$87,400

36 to 40

$79,200

$136,100

36 to 40

$50,900

$87,400

41 to 45

$44,100

$75,700

41 to 45

$38,100

$65,500

46 to 50

$22,100

$37,900

46 to 50

$22,100

$37,900

51 to 55

$12,400

$21,300

51 to 55

$22,100

$37,900

56 to 60

$7,300

$12,700

56 to 60

$22,100

$37,900

61 to 65

$6,600

$11,400

61 to 65

$19,800

$34,000

66 to 70

$4,500*

66 to 70

$12,500

$22,000

Your age at next birthday

Per unit

Up to 30

$100,400

31 to 35

No. of units required

Per unit

No. of units required

$7,500*

No. of units required

Per unit

No. of units required

TPD cover is restricted to specific loss, loss of independent existence and cognitive loss only (see Super Member Essentials for further details.)

*

Automatic Acceptance Levels – Fixed Premium cover only When you first join LUCRF Super, or within 90 days from the date of your welcome letter, you have the opportunity to increase your insurance up to our Automatic Acceptance Levels without having to provide any medical evidence or answer any health questions. The Automatic Acceptance Levels (Fixed Premium cover) are: • Up to 4 units of Death & TPD, or • Up to 6 units of Death Only.

Insurance cover above 7 units or $750,000 If you are applying for more than 7 units or $750,000 of Fixed Premium cover (maximum cover $2 million), you will need to also complete and attach a OnePath Personal Statement. To obtain a copy of the OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Your insurance selection Age at next birthday

Insurance product (please cross [X] one box only)

Years of age Work category (please cross [X] one box only)

Death & TPD cover Total number of insurance units

Standard (default) White Collar

Death Only cover

Units of insurance cover Please provide the total number of units you would like to apply for.

Insurance declaration – Fixed Premium cover I confirm I am applying to change my insurance cover with LUCRF Super under the selected condition below (Please cross [X] one box only). Insurance cover within Automatic Acceptance Levels

➙ You need to complete steps 1, 2 and 6

Insurance cover outside Automatic Acceptance Levels or up to 7 units or $750,000 ➙ You need to complete steps 1, 2, 5 and 6 Insurance cover more than 7 units or $750,000

➙ You need to complete steps 1, 2, 5, 6 and a OnePath Personal Statement.

050.3 Member Insurance Election Form

Page 4 of 7


Step 3 Fixed Amount cover Only complete this step if you are applying for or changing your Fixed Amount cover.

Fixed Amount: Annual premium rate per $1,000 insured Age at next birthday Up 31 36 41 46 51 56 61 66

to to to to to to to to to

30 35 40 45 50 55 60 65 70

Standard Death & TPD

White Collar Death Only

Death & TPD

Death Only

$0.77 $1.02 $1.02 $1.36 $2.35 $2.35 $2.35 $2.63 $4.16

$0.60 $0.62 $0.76 $1.37 $2.74 $4.88 $8.19 $9.12 $13.87*

$0.45 $0.59 $0.59 $0.79 $1.37 $1.37 $1.37 $1.53 $2.36

$1.06 $1.06 $1.31 $2.36 $4.71 $8.39 $14.25 $15.76 $23.11*

*TPD cover is restricted to specific loss, loss of independent existence and cognitive loss only (see Super Member Essentials for further details).

NOTE: You cannot apply for Fixed Amount cover if you are aged 60 and above.

Insurance cover above $750,000 If you are applying for more than $750,000 of Fixed Amount cover (maximum cover $2 million), you will need to also complete and attach a OnePath Personal Statement. To obtain a copy of the OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Your insurance selection Age at next birthday

Insurance product (please cross [X] one box only)

Years of age Work category (please cross [X] one box only) Standard (default)

Death & TPD cover

Death Only cover

Amount of insurance cover (must be a multiple of $1,000) $

White Collar

Insurance declaration – Fixed Amount cover I confirm I am applying to change my insurance cover with LUCRF Super under the selected condition below (Please cross [X] one box only). Insurance cover up to $750,000

➙ You need to complete steps 1, 3, 5 and 6.

Insurance cover more than $750,000

➙ You need to complete steps 1, 3, 5, 6 and a OnePath Personal Statement.

050.3 Member Insurance Election Form

Page 5 of 7


Step 4 Converting your insurance cover Only complete this step if you want to convert your existing insurance between Fixed Premium and Fixed Amount cover for the equivalent amount of cover.

Important information • When converting from Fixed Premium to Fixed Amount cover, your insurance will be rounded up the next $1,000 value • When converting from Fixed Amount to Fixed Premium cover, your insurance will be rounded up to the next unit of cover. Any additional insurance received from rounding up, will be subject to New Events cover for a period of 24 months • The maximum amount of insurance cover with LUCRF Super is $2 million. If rounding up your cover results in your insurance being above this maximum amount, you will be given the nearest unit or $1,000 amount of insurance equal to or below $2 million • You cannot convert insurance cover from Fixed Premium to Fixed Amount cover if you are aged 60 or above.

Please select (cross [X] one box only) to convert the type of cover you require

I wish to convert my existing Fixed Premium insurance to Fixed Amount cover OR I wish to convert my existing Fixed Amount insurance to Fixed Premium cover

IMPORTANT: If you have selected to convert your insurance to Fixed Premium cover, you must complete the three questions below. Please cross [X] boxes for ‘Yes’ or ‘No’. To the best of your knowledge: 1. Does any injury or illness currently restrict or prevent you from performing all the usual duties of your normal occupation? YES

NO

2. Are you currently in receipt of or intending to, or entitled to claim any form of sickness, accident or disability benefit(s) from any source including a work cover insurer or life insurer?

YES

NO

3. Have you been diagnosed with an illness that reduces your life expectancy to less than 12 months from today? YES

NO

If you have crossed YES to any of the boxes for the health questions above, you will need to complete a OnePath Personal Statement. To obtain a OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

DID YOU ANSWER YES TO ANYTHING?

050.3 Member Insurance Election Form

Page 6 of 7


Step 5 Health questions Only complete this step if required – please refer to ‘How to complete this form’ on page 2 for instructions. Important: Your declaration will be checked at the time you make a claim, insurance eligibility is at the discretion of the insurer. If you do not answer all questions truthfully and accurately, this may result in any insurance claim being reduced or denied. Please cross [X] boxes for ‘Yes’ or ‘No’. To the best of your knowledge: 1. Are you planning to, or are you receiving, any form of medical treatment or medication (other than to combat a cold or flu)?

YES

NO

2. Have you taken more than a total of seven days off work over the past 12 months due to illness or injury (other than colds or flu)?

YES

NO

3. Have you ever suffered from a cancer/tumour of any type, chest pain, high blood pressure, heart/vascular complaint, diabetes, back or joint disorder/pain, paralysis, stroke, or mental/nervous disorder including stress, anxiety or depression? YES

NO

4. Are you suffering from Acquired Immune Deficiency Syndrome (AIDS) or infected with the HIV virus or carrying antibodies to the HIV virus?

YES

NO

5. Have you, within the last five years, smoked in excess of 40 cigarettes per day or smoked any other substance?

YES

NO

6. Have you ever been advised to lose weight for health reasons?

YES

NO

If you have crossed YES to any of the boxes for the health questions above, you will need to complete a OnePath Personal Statement. To obtain a OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

DID YOU ANSWER YES TO ANYTHING?

If you have answered NO to all the above health questions and you are applying for 7 units or less than $750,000 of cover, you will automatically be provided with the cover you have chosen and will be issued a letter of confirmation.

Step 6 Sign and date this form Duty of disclosure Before you become insured under a contract of life insurance, the Trustee has a duty of disclosure to the Insurer, under the Insurance Contracts Act 1984. In order for the Trustee to comply with its duty, you must disclose, in this application form or any other application form you complete in relation to life insurance, every matter that you know, or could reasonably be expected to know, is relevant to the Insurer’s decision whether to accept the risk of the insurance and, if so, on what terms. The duty of disclosure also applies before cover is renewed, varied or reinstated. Your duty, however, does not require disclosure of a matter: • That diminishes the risk undertaken by the Insurer • That is of common knowledge • That the Insurer knows or, in the ordinary course of his/her business, ought to know, or • As to which the duty of disclosure is waived by the Insurer.

Non-disclosure If the duty of disclosure is not complied with and the Insurer would not have provided the insurance cover on any terms if the failure had not occurred, the Insurer may void the cover within three years of entering into it. If the non-disclosure is fraudulent, the Insurer may void the cover at any time. An Insurer who is entitled to void insurance cover may, within three years of entering into it, elect not to void it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the premium that would have been payable if you disclosed all relevant matters to the Insurer. The duty of disclosure continues until the Insurer accepts (or declines) your application and confirmation is issued in writing. Declaration • I confirm that all of the answers given by me on this form are true and correct • I declare that I have been clearly informed, in writing, of the general nature and effect of disclosure as detailed above, and • I understand I will be notified in writing of the acceptance of my insurance application.

Sign (member signature)

7

Checklist

Before you send the form to us, make sure you have:

3 3 3 3

Date (dd/mm/yyyy)

Answered the health questions honestly Indicated the level of cover and number of units you wish to apply for Completed and attached OnePath Personal Statement if required Signed and dated this form

/

/

Send Send this this form form to: to: LUCRF Super PO Box 211 North Melbourne VIC 3051 Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au Privacy: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy call us on 1300 130 780 or visit www.lucrf.com.au 050.3 Member Insurance Election Form

Page 7 of 7


Member Details form Member Income Protection Form

w

Complete this form if you want to apply for Income Protection insurance cover.

Income Protection insurance cover also known as ‘salary continuance’ insurance is separate from our Death and Total & Permanent Disablement (TPD) or Death Only cover. This type of insurance is designed to bridge the gap where you are unable to work as a result of an injury or illness and are receiving reduced or no income. The benefit you receive is paid for a period of up to two years. You have the flexibility to choose from a 30, 60 or 90 day benefit waiting period. Income Protection insurance cover is available with or without our Death and Total & Permanent Disablement (TPD) or Death Only cover. You can apply for up to 85% of your pre-injury or illness salary. This is made up of up to 75% paid to you as income and any amount above this up to 10% paid as a super contribution into your LUCRF account. Maximum benefit of up to $20,000 per month. Note: Your income protection payment may be reduced if you receive any employment income, workers compensation, social security or other statutory or Government payments at the time you make a claim. This cover is not available to casual employees or employees working less than 15hrs per week.

Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address – if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Home

Work

Mobile

Fax

Email address

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

052.4 Member Income Protection Form

Page 1 of 4

LUCRF0512_080512

Contact details


Income Protection cover Insurance tables The cost of Income Protection insurance with LUCRF Super depends on your age, gender, work category and the waiting period you select.

The example below is to help you determine how to calculate the level and cost of cover that may suit you.

Example

John

• 25 years old at next birthday

• Heavy Machine Operator

Wants cover of

$595 (85% of $700)

Cost of cover

$0.36 per $100 weekly benefit

Maximum cover limit

John can apply up to 85% of his salary ($700 per week)

How to work out cover

$700 per week salary x 85% (of gross salary) = $595 per week So, $595 per week / $100 weekly benefit = 6 units (rounded to the nearest $100)

(Heavy Blue Collar)

• Gross weekly salary

6 units x $0.36 = $2.16 per week

of $700

• 60 day waiting period.

John chooses

$600 per week of income protection cover

Cost per week

$2.16 (deducted from John’s super account)

Refer to the tables below to determine the cost of your income protection insurance cover.

1

White collar – Weekly premium you pay per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Age next birthday

Male

Female

Male

Female

Male

16–20

$0.23

$0.23

$0.12

$0.13

$0.08

$0.09

21–25

$0.24

$0.24

$0.12

$0.13

$0.08

$0.09

26–30

$0.25

$0.27

$0.13

$0.15

$0.08

$0.10

31–35

$0.31

$0.35

$0.16

$0.20

$0.08

$0.11

36–40

$0.41

$0.48

$0.21

$0.28

$0.11

$0.15

41–45

$0.56

$0.65

$0.30

$0.39

$0.17

$0.24

46–50

$0.79

$0.88

$0.43

$0.53

$0.28

$0.37

51–55

$1.15

$1.19

$0.68

$0.77

$0.49

$0.58

56–60

$1.75

$1.65

$1.04

$1.07

$0.87

$0.85

61–65

$1.99

$1.73

$1.22

$1.11

$0.99

$0.80

2

Female

Light Blue – Weekly premium you pay per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Age bext birthday

Male

Female

Male

Female

Male

16–20

$0.40

$0.43

$0.24

$0.26

$0.16

$0.18

21–25

$0.42

$0.45

$0.25

$0.27

$0.17

$0.18

26–30

$0.45

$0.51

$0.27

$0.31

$0.16

$0.21

31–35

$0.54

$0.67

$0.32

$0.40

$0.17

$0.22

36–40

$0.72

$0.91

$0.43

$0.56

$0.22

$0.30

41–45

$0.99

$1.24

$0.61

$0.79

$0.35

$0.48

46–50

$1.39

$1.67

$0.87

$1.07

$0.56

$0.75

51–55

$2.03

$2.27

$1.37

$1.54

$0.99

$1.17

56–60

$3.10

$3.15

$2.10

$2.15

$1.76

$1.72

61–65

$3.52

$3.29

$2.46

$2.23

$2.00

$1.61

3

Female

Heavy Blue – Weekly premium you pay per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Age next birthday

Male

Female

Male

Female

Male

16–20

$0.59

$0.63

$0.34

$0.38

$0.21

$0.23

21–25

$0.61

$0.65

$0.36

$0.39

$0.22

$0.24

26–30

$0.66

$0.74

$0.39

$0.45

$0.21

$0.27

31–35

$0.79

$0.97

$0.47

$0.59

$0.22

$0.29

36–40

$1.05

$1.33

$0.62

$0.81

$0.29

$0.39

41–45

$1.44

$1.81

$0.89

$1.15

$0.46

$0.63

46–50

$2.03

$2.44

$1.26

$1.56

$0.74

$0.98

51–55

$2.96

$3.30

$1.99

$2.24

$1.30

$1.54

56–60

$4.51

$4.58

$3.05

$3.13

$2.30

$2.25

61–65

$5.13

$4.79

$3.57

$3.24

$2.61

$2.10

Female

052.4 Member Income Protection Form

Page 2 of 4


Step 2 Your work category Your type of work is used to determine the cost of your Income Protection insurance cover. There are three separate work categories to choose from:

White Collar

1

For professional, clerical or administrative white collar workers who do not perform any manual work, as well as sales people not involved in deliveries

Light Blue

2

For skilled and unskilled workers, performing light manual work and involved in non-hazardous industries and/or tasks. Light Blue also covers supervisors of heavy blue workers or fully qualified tradespeople (details of qualifications must be provided) 3

Heavy Blue For skilled or semi-skilled manual workers and heavy machine operators who are not exposed to high risk accidents, health hazards or who do not participate in high risk occupations are classified Heavy Blue.

Please indicate the work category that applies to you (cross [X] one box only). White Collar

Light Blue

Heavy Blue

What is your job title?

Please indicate the type of work you do

If you need help determining your work category, please call a LUCRF Representative on 1300 130 780.

Step 3 Health questions You need to complete all the health questions below to apply for income protection insurance cover with LUCRF Super. Important: Your declaration will be checked at the time you make a claim. If you do not answer all the questions truthfully and accurately, it may result in any insurance claim being reduced or denied. Insurance eligibility is at the discretion of the insurer. Please cross [X] boxes for ‘Yes’ or ‘No’. 1. At the cover application date are you restricted in any way from actively working and performing all your usual duties of your normal occupation?

YES

NO

2.  Are you currently receiving any form of medical treatment?

YES

NO

3. To the best of your knowledge, have you taken more than a total of 7 days off work over the past 12 months due to illness or injury (other than colds or flu)?

YES

NO

4. Have you ever received a Total & Permanent Disablement (TPD) benefit or are you eligible to claim a TPD benefit from either this Fund or any other source?

YES

NO

a. H  igh blood pressure, high cholesterol, heart complaint, murmur, palpitations or chest pain, stroke, diabetes, thyroid or glandular disorder, cancer, tumour or growth including breast lumps or skin lesions/moles (even if you have not seen a doctor)? YES

NO

b. Back or neck pain/disorder, musculo-skeletal symptoms or any joint disorder, gout, arthritis, RSI, paralysis of any kind or chronic fatigue syndrome, epilepsy or neurological disorder, mental/nervous disorder including stress, anxiety or depression?

YES

NO

c. Kidney, bowel, bladder, gall bladder, liver disease or disorder, hepatitis, hernia, blood disorder, sleep apnoea, asthma, persistent cough or any lung complaint, any abnormality of hearing, speech or eyesight (excluding glasses or contact lenses)?

YES

NO

YES

NO

5. Have you ever received medical advice, consulted a doctor, undergone medical treatment, investigations or operations for, or suffered from any of the following:

6. To the best of your knowledge, are you suffering from Acquired Immune Deficiency Syndrome (AIDS), infected with HIV or carrying antibodies to HIV? If you have crossed YES to any of the boxes for the health questions above, or are applying for cover in excess of $5,000 per month, you will need to complete a OnePath Personal Statement. To obtain a OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

DID YOU ANSWER YES TO ANYTHING?

052.4 Member Income Protection Form

Page 3 of 4


Step 4 Select the amount of cover you want to apply for Please complete this section to apply for income protection insurance cover. I am currently working in excess of 15 hours per week and I am not a casual employee (cross [X] one box only): Yes

No

Note: Income Protection cover is not available to casual employees, or employees working less than 15hrs per week.

Gender (cross ✗ one box only): Female

Male

Please select your waiting period (cross [X] one box only): 30 days

60 days

90 days

Amount of cover I would like to apply for: My annual gross (before tax) salary is:

$

weekly benefit of income protection cover (benefit must be a multiple of $100).

$

If you are applying for Income Protection insurance cover in excess of $5,000 per month, you will need to complete a OnePath Personal Statement. To obtain a copy of the OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Step 5 Sign and date this form Duty of disclosure

Non-disclosure

Before you become insured under a contract of life insurance, the Trustee has a duty of disclosure to the Insurer, under the Insurance Contracts Act 1984. In order for the Trustee to comply with its duty, you must disclose, in this application form or any other application form you complete in relation to life insurance, every matter that you know, or could reasonably be expected to know, is relevant to the Insurer’s decision whether to accept the risk of the insurance and, if so, on what terms. The duty of disclosure also applies before cover is renewed, varied or reinstated.

If the duty of disclosure is not complied with and the Insurer would not have provided the insurance cover on any terms if the failure had not occurred, the Insurer may void the cover within three years of entering into it. If the non-disclosure is fraudulent, the Insurer may void the cover at any time. An Insurer who is entitled to void insurance cover may, within three years of entering into it, elect not to void it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the premium that would have been payable if you disclosed all relevant matters to the Insurer. The duty of disclosure continues until the Insurer accepts (or declines) your application and confirmation is issued in writing.

Your duty, however, does not require disclosure of a matter: • That diminishes the risk undertaken by the Insurer • That is of common knowledge • That the Insurer knows or, in the ordinary course of his/her business, ought to know, or • As to which the duty of disclosure is waived by the Insurer.

Declaration • I confirm that all of the answers given by me on this form are true and correct • I declare that I have been clearly informed, in writing, of the general nature and effect of disclosure as detailed above, and • I understand I will be notified in writing of the acceptance of my insurance application.

Sign (member signature)

7

Checklist

Before you send the form to us, make sure you have:

3 3 3 3

Date (dd/mm/yyyy)

Answered the health questions honestly Indicated the level of cover and number of units you wish to apply for Completed and attached a OnePath Personal Statement (if required) Signed and dated this form

/

/

Send this form to: LUCRF Super PO Box 211 North Melbourne VIC 3051 Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au Privacy: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy call us on 1300 130 780 or visit www.lucrf.com.au 052.4 Member Income Protection Form

Page 4 of 4


Member Details form Request for Payroll Deduction

w Hand this form to your payroll department If your employer allows additional contributions to be deducted from your before or after-tax pay, please complete this form and then hand directly to your payroll department. Please complete all relevant sections using CAPITAL LETTERS and a BLACK or BLUE pen.

Step 1 Employer details To the pay office (company name)

Employee name (name of member)

LUCRF Super membership number (if known)

Company payroll number (if known)

I authorise you to deduct the following amount of superannuation contribution from my pay and remit to LUCRF Super

Step 2 Contribution before-tax (salary sacrifice) Salary sacrifice

%

Please commence my before-tax contribution of:

$

or

Using the following pay frequency (please cross [X] one): Weekly

Fortnightly

Monthly

Commencing from this future pay date (dd/mm/yyyy):

/

/

/

/

Step 3 Contribution after-tax (personal contribution) Personal contribution

%

Please commence my after-tax contribution of:

or

$

Using the following pay frequency (please cross [X] one): Weekly

Fortnightly

Monthly

Commencing from this future pay date (dd/mm/yyyy):

Employer to note: After-tax contributions are required (by legislation) to be paid within 28 days of the end of the month in which they are deducted.

Step 4 Authorisation This authority is effective until further notice from me. Sign (member signature)

Date (dd/mm/yyyy)

/

/

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

103.3 Request for Payroll Deduction Form

Page 1 of 1

LUCRF0512_050512

7


Member Details form Choice of Super Fund Form

w Hand this form to your payroll department Complete this form to arrange for your employer to pay super contributions into your LUCRF Super account and then hand directly to your payroll department. Please complete all relevant sections using CAPITAL LETTERS and a BLACK or BLUE pen.

Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Step 2 Your employer details Employer name

Employer phone number

Step 3 LUCRF Super details Fund name

Fund address

L U C R F

S U P E R

N O R T H

M E

P O

L B O U R N E

V

i

c

B O x

2 1 1

3 0 5 1

Fund phone number

1 3 0 0

1 3 0

7 8 0

Fund Australian Business Number (ABN)

2 6

3 8 2

6 8 0

8 8 3

Superannuation Product Identification Number (SPIN)

L U C 0 0 0 1 A U

Step 4 Authorisation This authority is effective until further notice from me. Sign (member signature)

102.3 Choice of Super Fund Form

Date (dd/mm/yyyy)

/

/

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

Page 1 of 2

LUCRF0512_050512

7


Information for employers Personalised service LUCRF Super’s team of dedicated Business Development Managers (BDMs) can help you and your employees with all matters relating to super and retirement income. If you would like one of our BDMs to visit your workplace, simply call us on 1300 130 780.

Making a contribution LUCRF Super provides employers the flexibility to make super contributions for employees in a variety of easy ways. Making a contribution Contribution methods

Payment methods

Manual (paper based)

Cheque/money order

Complete and return LUCRF Super’s Company contribution Advice form.

Made payable to LUCRF Super.

Employers Online (EOL)

Bpay®

Our easy-to-use secure internet facility to manage your company‘s super contributions online. Use the online contribution grid or import a CSV file from your payroll system.

Quick and easy method to pay contributions to LUCRF Super ($100,000 maximum Bpay transaction value).

Electronic Data Transfer (EDT)

EFT (Electronic Funds Transfer)

Email your Company contribution Advice form (Excel or CSV file) directly to LUCRF Super. You can use our generic company contribution Advice form template or we can customise our system to use your payroll reports.

Electronically transfer funds directly to the LUCRF Super bank account.

®Registered to Bpay Pty Ltd ABN 69 079 137 518

For more information on LUCRF Super, please call a LUCRF Representative on 1300 130 780 or visit www.lucrf.com.au

Notice of Compliance LUCRF Super SFN: 1397 049 48 LUCRF Super ABN: 26 382 680 883 LUCRF Super Superannuation Product Identification Number (SPIN): LUC0001AU To whom it may concern, I confirm the following details on behalf of LUCRF Pty Ltd, the Trustee for the Labour Union Co-operative Retirement Fund (LUCRF Super): 1 The registered office of the Fund is: 833 Bourke Street, Docklands, Victoria 3008 2 LUCRF Super is a complying superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS Act). 3 LUCRF Super is able to accept superannuation contributions for eligible persons. These contributions are maintained and subsequently paid only in accordance with the SIS regulations. 4 The LUCRF Super Trust Deed allows benefits of any amount to be accepted as rollovers. Any unrestricted non-preserved portion of the rollover will remain unrestricted and may be cashed out by the member at any time. 5 LUCRF Super has never been subject to a direction under Section 63 of the SIS Act. 6 LUCRF Super meets the insurance requirements to be chosen as a default fund by employers for the purposes of the Choice of Superannuation Fund legislation. 7 LUCRF Super is able to accept contributions from employers on behalf of their employees. The Trustee approves all employer-sponsors to pay on such frequency that they choose, provided that they meet their statutory obligations. Contributions can be remitted by cheque, electronic funds transfer (EFT) and Bpay. Any further queries regarding this notification should be directed to this office. Yours faithfully,

Greg Sword AM Chief Executive Officer Phone 1300 130 780 Fax (03) 9326 6907 Web www.lucrf.com.au Email mypartner@lucrf.com.au Post PO Box 211 North Melbourne VIC 3051 (please use postal address for all correspondence) Head Office 833 Bourke Street Docklands VIC 3008

Employer use only Date accepted (dd/mm/yyyy)

Date processed (dd/mm/yyyy)

102.3 Choice of Super Fund Form

Page 2 of 2


Request to transfer whole balance of superannuation benefits between funds

under the Superannuation Industry (Supervision) Act 1993 cOMPlETINg THIS FORM n n n

AFTER cOMPlETINg THIS FORM

Read the important information pages Refer to instructions where indicated with a This form is only for whole (not part) balance transfers.

n n

Sign the authorisation Send form and certified proof of identity documents to either your FROM or TO fund.

Personal details Title:

Mrs

Mr

Miss

Ms

Other

Residential address *Address

*Family name *Given names

*Suburb

Other/previous names

*Postcode

*State/territory Day

Month

Year

*Date of birth Tax file number Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your tax file number, but there may be tax consequences.

Previous address If you know that the address held by your FROM fund is different to your current residential address, please give details below.

Address

See ‘What happens if I do not quote my tax file number?’

*Gender

Suburb Male

Female

Postcode

State/territory

*Contact phone number

Fund details FROM

TO

*Fund name

*Fund name

Fund phone number

*Fund phone number

Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN)

*Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN)

If you have multiple account numbers with this fund, you must complete a separate form for each account you wish to transfer.

*Proof of identity

LUCRF Super PO Box 211, North Melbourne VIC 3051 1 3 0 0 1 3 0 7 8 0

26 382 680 883 LUC0001AU

You must check with your TO fund to ensure they can accept this transfer.

See ‘Completing proof of identity’

I have attached a certified copy of my driver’s licence or passport OR I have attached certified copies of both: Birth/Citizenship Certificate or Centrelink Pension Card AND Centrelink payment letter or Government or local council notice (<1 year old) with name and address

Authorisation By signing this request form I am making the following statements: n I declare I have fully read this form and the information completed is true and correct n I am aware I may ask my superannuation provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and do not require any further information. n If the TO fund is a self managed superannuation fund (SMSF), I confirm that I am a member, trustee or director of a corporate trustee of the SMSF. n I discharge the superannuation provider of my FROM fund of all further liability

in respect of the benefits paid and transferred to my TO fund.

*Name (Print in BLOCK LETTERS) *Signature

Day

Month

Year

*Date

I request and consent to the transfer of superannuation as described above and authorise the superannuation provider of each fund to give effect to this transfer. * Denotes mandatory field. If you do not complete all of the mandatory fields, there may be a delay in processing your request. JS 6676‑03.2007

100.3

IN-CONFIDENCE – when completed

Page 


Completing the request to transfer whole balance of superannuation benefits between funds form By completing this form, you will request the transfer of the WHOLE balance of your superannuation benefits between funds. This form can NOT be used to transfer part of the balance of your superannuation benefits. This form will NOT change the fund to which your employer pays your contributions. The Standard Choice Form must be used by you to change funds.

BEFORE COMPLETING THIS FORM n Read

the important information below. n Check that the fund you are transferring your benefits TO can accept this transfer.

WHEN COMPLETING THIS FORM n Refer

to these instructions where a question shows a message like this: n Print clearly in BLOCK LETTERS.

AFTER COMPLETING THIS FORM n Sign

the authorisation. the appropriately certified proof of identity documents. n Review the checklist below. n Send the request form to your fund. n Attach

THINGS YOU NEED TO CONSIDER WHEN TRANSFERRING YOUR SUPERANNUATION

When you transfer your superannuation, your entitlements under that fund may cease. You need to consider all relevant information before you make a decision to transfer your superannuation. If you ask for information, your superannuation provider must give it to you. Some of the points you may consider are: n Fees – your FROM fund must give you information about any exit or withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees as well as exit or withdrawal fees. Your TO fund may also charge entry or deposit fees on transfer. Differences in fees funds charge can have a significant effect on what you will have to retire on. For example, a 1% increase in fees may significantly reduce your final benefit. and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have. Other funds may not offer insurance, or may require you to pass a medical examination before they cover you. When considering a new fund, you may wish to check the costs and amount of any cover offered.

n Death

IMPORTANT INFORMATION This transfer may close your account (you will need to check this with your FROM fund). This form can NOT be used to: part of the balance of your superannuation benefits n transfer benefits if you don’t know where your superannuation is n transfer benefits from multiple funds on this one form – a separate form must be completed for each fund you wish to transfer superannuation from n change the fund to which your employer pays contributions on your behalf n open a superannuation account, or n transfer benefits under certain conditions or circumstances, for example if there is a superannuation agreement under the Family Law Act 1975 in place. n transfer

CHECKLIST Have you read the important information? Have you considered where your future employer contributions will be paid? Have you checked your TO fund can accept the transfer? Have you completed all of the mandatory fields on the form? Have you signed and dated the form? Have you attached the certified documentation including any linking documents if applicable?

WHAT HAPPENS IF I DO NOT QUOTE MY TAX FILE NUMBER (TFN)?

You are not obligated to provide your TFN to your superannuation fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate plus the Medicare levy on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund may deduct this additional tax from your account. If your superannuation fund does not have your TFN, you will not be able to make personal contributions to your superannuation account. Choosing to quote your TFN will also make it easier to keep track of your superannuation in the future. Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another superannuation provider, when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other trustee.

TRANSFERS TO SELF MANAGED SUPERANNUATION FUNDS

You may use this form to transfer your benefits to your own self managed superannuation fund (SMSF).

WHAT HAPPENS TO MY FUTURE EMPLOYER CONTRIBUTIONS?

You should be aware that SMSFs are subject to the same rules and restrictions as other funds, when benefits are to be paid out. In particular, superannuation benefits in a SMSF are required to be ‘preserved’, meaning they are not generally able to be accessed until you are over age 55 and retired.

If you wish to change the fund into which your contributions are being paid, you will need to speak to your employer about Choice. For the appropriate forms and information about whether you are eligible to choose the fund to which your employer contributions are made, visit www.superchoice.gov.au or call the Australian Taxation Office on 13 10 20.

The trustee of your FROM fund may be able to request further information from you about your status as a member, a trustee or a director of a corporate trustee of your SMSF, if there are multiple transfer requests to your SMSF. Penalties may apply for providing false or misleading information.

Using this form to transfer your benefits will not change the fund to which your employer pays your contributions and may close the account you are transferring your benefits FROM.

JS 6676‑03.2007

IN-CONFIDENCE – when completed

Page 1


Completing proof of identity

You will need to provide documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong.

ACCEPTABLE DOCUMENTS

The following documents may be used. EITHER One of the following documents only: n driver’s licence issued under State or Territory law n passport. OR One of the following documents: n birth certificate or birth extract n citizenship certificate issued by the Commonwealth n pension card AND issued by Centrelink that entitles the person to financial benefits.

One of the following documents: n letter from Centrelink regarding a Government assistance payment n notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example: – Tax Office Notice of Assessment – Rates notice from local council.

HAvE YOU CHANGED YOUR NAME OR ARE YOU SIGNING ON BEHALF OF ANOTHER PERSON?

If you have changed your name or are signing on behalf of the applicant, you will need to provide a certified linking document. A linking document is a document that proves a relationship exists between two (or more) names. The following table contains information about suitable linking documents. Purpose

Suitable linking documents

Change of name

Marriage certificate, deed poll or change of name certificate from the Births, Deaths and Marriages Registration Office.

Signed on behalf of the applicant

Guardianship papers or Power of Attorney.

CERTIFICATION OF PERSONAL DOCUMENTS

All copied pages of ORIGINAL proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so (see below). The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualification (eg Justice of the Peace, Australia Post employee, etc) and date. The following can certify copies of the originals as true and correct copies: n a permanent employee of Australia Post with five or more years of continuous service n a finance company officer with five or more years of continuous service (with one or more finance companies) n an officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having five or more years continuous service with one or more licensees n a notary public officer n a police officer n a registrar or deputy registrar of a court n a Justice of the Peace n a person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia, as a legal practitioner n an Australian consular officer or an Australian diplomatic officer n a judge of a court n a magistrate, or n a Chief Executive Officer of a Commonwealth court.

WHERE DO I SEND THE FORM?

You can send your completed and signed form with your certified proof of identity documents to either fund.

MORE INFORMATION For more information about superannuation, visit the: n Australian Securities and Investments Commission website at www.fido.asic.gov.au, or n Australian Taxation Office website at www.ato.gov.au/super For more information about this form, phone the Australian Taxation Office on 13 10 20.

IN-CONFIDENCE – when completed

Page 


Notice of Compliance LUCRF Super SFN: 1397 049 48 LUCRF Super ABN: 26 382 680 883 LUCRF Super Superannuation Product Identification Number (SPIN): LUC0001AU To whom it may concern I confirm the following details on behalf of LUCRF Pty Ltd, the Trustee for the Labour Union Co-operative Retirement Fund (LUCRF Super): 1. The registered office of the Fund is: 833 Bourke Street, Docklands, Victoria 3008 2. LUCRF Super is a complying superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS Act) 3. LUCRF Super is able to accept superannuation contributions for eligible persons. These contributions are maintained and subsequently paid only in accordance with the SIS regulations 4. The LUCRF Super Trust Deed allows benefits of any amount to be accepted as rollovers. Any unrestricted non-preserved portion of the rollover will remain unrestricted and may be cashed out by the member at any time 5. LUCRF Super has never been subject to a direction under Section 63 of the SIS Act 6. LUCRF Super meets the insurance requirements to be chosen as a default fund by employers for the purposes of the Choice of Superannuation Fund legislation 7. LUCRF Super is able to accept contributions from employers. The Trustee approves all employer-sponsors to pay on such frequency that they choose, provided that they meet their statutory obligations. Contributions can be remitted by cheque, electronic funds transfer (EFT) and BPAY. Any further queries regarding this notification should be directed to this office. Yours faithfully

LUCRF0512_080512

Greg Sword AM Chief Executive Officer

Phone 1300 130 780 Fax (03) 9326 6907 Web www.lucrf.com.au E-mail mypartner@lucrf.com.au Post PO Box 211 North Melbourne VIC 3051

An award-winning fund

Office Locations (please use Postal Address for all correspondence) Head Office 833 Bourke Street Docklands VIC 3008

New South Wales Lvl 1, 1 Bridge Street Granville NSW 2142

Queensland 17 Cribb Street Milton QLD 4064

South Australia 46 Greenhill Road Wayville SA 5034

LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee for LUCRF Super ABN 26 382 680 883.


Member Details form

Personal Plan Member Application Form

w

Complete this form to become a Personal Plan member. This type of membership suits those who are either self-employed or do not have an employer contributing on their behalf. Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Step 1 Your personal details Date of birth (dd/mm/yyyy) /

/

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address – if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Contact details Home

Work

Mobile

Fax

Email address

Step 2 Tax file number (TFN) We will use your TFN in confidence and only for legal purposes, which may change in the future as a result of legislative change. You do not have to provide your TFN, but if you don’t, we will not be able to accept after-tax contributions from you and will have to deduct tax at the highest marginal rate plus the Medicare Levy. Please refer to our Super Member Guide Product Disclosure Statement for further information, available at www.lucrf.com.au or call 1300 130 780. I advise that my TFN is: Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883

002.3

Super Member Guide (Product Disclosure Statement), 22 June 2012.

Personal Plan Member Application Form

Page 1 of 4

LUCRF0512_080512

The Fund is authorised to seek your TFN under the Superannuation Industry (Supervision) Act 1993.


Step 3 Super Search consent You can authorise for LUCRF Super to use your Tax File Number (TFN) (if provided) to search and act on your behalf to consolidate your super. Please cross [X] below to provide consent.

I hereby consent for LUCRF Super to act on my behalf and use my Tax File Number (TFN) for superannuation purposes. I consent for my TFN to be used to seek superannuation information and consolidate, using the ATO facility and contacting other superannuation entities or RSA providers for information relating to myself.

This consent will remain in place until cancelled by you. LUCRF Super will only use your TFN in accordance with your consent.

Step 4 Your beneficiary details When you open a LUCRF Super Personal Plan account, it is important that you carefully consider who you wish to receive your superannuation benefit in the event of your death. LUCRF Super offers either non-binding or binding nominations. To make a non-binding nomination please complete relevant details in option 1 below. To make a binding nomination in option 2 below, you will need to complete a Binding Death Benefit Nomination Form.

Option 1 Non-binding nomination This type of nomination is used as a guide for the Trustee when deciding how your death benefit (super and any insurance amount) will be distributed. To advise the Trustee of your preferred nomination, please list your beneficiaries below or select to have your death benefit paid to your estate/legal personal representative/executor. First name and initial (e.g. John D)

Relationship to you

Surname

% share

First name and initial (e.g. John D)

Relationship to you

Surname

% share

First name and initial (e.g. John D)

Relationship to you

Surname

% share

First name and initial (e.g. John D)

Relationship to you

Surname

% share

Must total 100%

Pay benefit to my estate/legal personal representative/executor If you would like to nominate more beneficiaries, attach your own list to this form, or call a LUCRF Representative on 1300 130 780 to obtain a Change of Details Form.

Option 2 Binding nomination This type of nomination means the Trustee must pay your death benefit to the person(s) you have nominated (subject to superannuation law). Binding nominations are valid for three years and you will need to confirm your nomination within this period for it to remain valid. You can change or cancel your nomination at any time. IMPORTANT: If you would like to choose this option, you must complete a Personal Plan Binding Death Benefit Nomination Form available by calling us on 1300 130 780, or by visiting www.lucrf.com.au

002.3 Personal Plan Member Application Form

Page 2 of 4


Insurance When you join LUCRF Super as a Personal Plan member you are able to apply for Death and Total & Permanent Disablement (TPD), Death Only and/or Income Protection insurance. Our flexible insurance products make it easy for members to choose the cover that best suits their circumstances. Insurance can offer peace of mind, financial security and protection against the unexpected. Insurance eligibility is at the discretion of the insurer. To learn more or apply for insurance, please read our Super Member Guide and/or complete a Personal Plan Member Insurance Election Form available by calling 1300 130 780 or download a copy from www.lucrf.com.au

Member investment choice When you join LUCRF Super your account is automatically invested in the Balanced (default) investment option. This option has a diversified mixture of growth assets such as shares and property, and defensive assets like cash and fixed interest. If you want your super invested differently to the default option, you will need to complete a Personal Plan Member Investment Choice Form. There is a choice of nine investment options that are Pre-mixed or Asset Class (see table below). You can choose one option or a mix of options.

Pre-mixed investment options

Asset Class investment options

Each option is made up of a blend of growth and defensive asset classes (diversified)

Each option invests solely in a particular asset class

Balanced (default)

Cash

Conservative

Indexed Shares

Moderate

Australian Shares

High Growth

International Shares Property

Step 5 Contribution payment details To open your Personal Plan membership, you need to make a contribution into LUCRF Super.

Type of contribution Please cross [X] the appropriate box: Personal (non–concessional) contribution (after-tax) Salary Sacrifice (concessional) contribution (before-tax) from another employer. Spouse (non–concessional) contribution (after-tax) – Please complete the Spouse Contribution Form. Rollover – Please complete the Transfer Between Funds Form*.

Method of payment (only if making a personal [after-tax] contribution) Please cross [X] the appropriate box:

Cheque

Money order

Bpay®

Cheques and money orders should be made payable to LUCRF Super. Your name, address and contact phone number should be recorded on the back. Date of payment (dd/mm/yyyy) Payment amount

/

$

/ .

*Request to transfer whole balance of superannuation benefits between funds form available from 1300 130 780 or www.lucrf.com.au

Step 6 Members Online access Members Online allows you 24 hour access to check your balance history, update your contact details, see what payments have been made in or out of your account, check your investment options, look at who your beneficiaries are and other information. If you would like access to Members Online, please cross [X] the box below and you will be sent a separate letter with your Members Online details.

I would like access to Members Online 002.3 Personal Plan Member Application Form

Page 3 of 4


Step 7 Your communication choices We will send your annual statement, newsletter updates and other important information as required by legislation, however if you do not wish to receive additional information from time to time, please indicate this below (you can alter your preference at any time by contacting us).

I do not wish to receive additional information from LUCRF Super

Step 8 Proof of identification When you open a LUCRF Super Personal Plan account, you will need to provide a certified copy of proof of identification. The following are legally accepted documents: EITHER One of these documents only: • Driver’s licence issued under State or Territory law • Passport OR One of the documents in Section 1, and one of the documents in Section 2:

Certification of personal documents All copied pages of ORIGINAL proof of identification (including all linking documents) need to be certified as true copies of the original document by a person authorised to do so. The person who is authorised to certify the documents must sight the original and the copy and make sure that both documents are identical. They then must ensure that all pages are certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualifications and the date. In accordance with Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1), persons who can certify copies of the originals as true and correct for these purposes include: • A Pharmacist

Section 1

• A registered Medical Practitioner

• Birth certificate or birth extract

• A Police officer

• Citizenship certificate issued by the Commonwealth

• A permanent employee of Australia Post with two or more years continuous service

AND

Section 2 • A letter from Centrelink regarding a Government assistance payment notice issued by Commonwealth, State or Territory Government or local Council within the past 12 months that contains your name and residential address. For example: - Tax Office Notice of Assessment

• An officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having two or more years of continuous service

- Rates notice from local Council

This is a true and correct copy of the original document Name:...............................................................................

EX AM PL E

• Pension card issued by Centrelink that entitles the person to financial benefits

Qualification: .................................................................... (e.g. Pharmacist, Police Officer etc) Registration number:......................................................... Signature:.......................................................................... Date: ................................................................................

Step 9 Sign and date this form • I hereby apply to the Trustee to join LUCRF Super upon the terms and conditions contained in the Trust Deed (as amended from time to time) • I acknowledge that I have read and understood the information in the Super Member Guide and this Personal Member Application Form, including the collection and use of my personal information, and • I confirm that all of the details provided in this Personal Member Application Form are accurate and complete. I undertake to inform the Trustee if any of my information changes and will provide further information as requested. Sign (member signature)

7

Date (dd/mm/yyyy)

/

Checklist

Send this form to:

Before you send the form to us, make sure you have:

LUCRF Super PO Box 211 North Melbourne VIC 3051

3 3 3 3

Completed all relevant steps Attached certified copy of proof of identification (ID) Completed details of your initial contribution

/

Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

Signed and dated this form

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au PRIVACY: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy, call us on 1300 130 780 or visit www.lucrf.com.au 002.3 Personal Plan Member Application Form

Page 4 of 4


Member Details form

Personal Plan Member Investment Choice Form

w

Complete this form if you want to change the way your super account is invested. Note: You can also change your investment option via a Members Online account, contact us to register. When you open a LUCRF Super account, your contributions are automatically invested in the Balanced (default) investment option, if you do not make a choice. This option has a diversified mixture of growth assets such as shares and property, and defensive assets like cash and fixed interest. Please complete all relevant sections using CAPITALâ&#x20AC;&#x2C6;LETTERS and a black or BLUE pen.

Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address â&#x20AC;&#x201C; if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Contact details Home

Work

Mobile

Fax

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883

021.3

Super Member Guide (Product Disclosure Statement), 22 June 2012.

Personal Plan Member Investment Choice Form

Page 1 of 3

LUCRF0512_050512

Email address


Step 2 Your investment choice – existing balance Complete this section if you would like to nominate or change the way your Personal Plan account is invested. There is a choice of nine different investment options. You can choose one option or a mix of options. Please invest my existing LUCRF Super account balance as indicated below: (use whole numbers only – no fractions) Pre-mixed investment options %

Balanced (default)

%

Conservative

%

Moderate

%

High Growth

When you open a LUCRF Super account, your contributions are automatically invested in the Balanced (default ) investment option, if you do not make a choice. This option has a diversified mixture of growth assets such as shares and property, and defensive assets like cash and fixed interest.

Asset Class investment options %

Cash

%

Indexed Shares

%

Australian Shares

%

International Shares

%

Property

MUST TOTAL 100%

Step 3 Your investment choice – future contributions Complete this section if you would like to change the way your future contributions are invested. Please cross [X] one box below to indicate how you would like your future contributions invested. Invest my future contributions the same way as my existing balance (see Step 2) Invest my future contributions differently to my existing balance (nominate below) If you select this option you must complete the section below. Please invest future contributions paid to my LUCRF Super account as indicated below: (use whole numbers only – no fractions) Pre-mixed investment options %

Balanced (default)

%

Conservative

%

Moderate

%

High Growth Asset Class investment options

%

Cash

%

Indexed Shares

%

Australian Shares

%

International Shares

%

Property

MUST TOTAL 100%

021.3 Personal Plan Member Investment Choice Form

Page 2 of 3


Member investment switches Member investment switches received for existing balance and future contributions take effect as follows: Existing balances: An application to change investment option for an existing balance is effective the day after the valuation of assets for those requests received by 5pm EST on the day of valuation. Assets are typically valued on a Monday. Future contributions: Receive the net cash rate from the date of receipt to the next valuation date, and the investment return for the selected investment option after valuation date.

Calculating investment returns 1. LUCRF Super values assets weekly and uses weekly rates to allocate net investment earnings to members. 2. Valuations typically occur each Monday during the month and at month end. 3. Valuations may not occur on a Monday for the following reasons: • When the first Monday of the month is within the first three business days of the month, the valuation is typically deferred to the following Monday • When the last Monday of the month is within the last three business days of the month, the valuation is typically deferred to month end, or • Where Monday is a public holiday, investments will be valued on the next business day. 4. The valuation process uses the closing prices in the Australian and overseas markets in which we have investments. Unlisted investments and real estate assets are valued less frequently. We use the most recent valuation available. 5. These rates allocate net investment earnings to members based on daily account balances. Investment returns are applied to members’ accounts: • When a benefit is paid • When an accumulation balance is transferred to a pension account • When a change to investment options is processed, and • Effective 30 June each year. 6. Contributions and transfers in receive the net cash rate from the date of receipt to the next valuation date, and the investment return for the selected investment option after valuation date. 7. Financial year-to-date and historical rates are shown on LUCRF Super’s website, www.lucrf.com.au

Step 4 Sign and date this form • I acknowledge that I have read and understand the information contained in the current Super Member Guide in respect of investment choices, and • I understand that my request to select or change an investment option will be processed and investment returns applied in accordance with the procedures set out above. Sign (member signature)

7

Date (dd/mm/yyyy)

/

Checklist

Send this form to:

Before you send the form to us, make sure you have:

LUCRF Super PO Box 211 North Melbourne VIC 3051

3 Completed all relevant steps 3 Made sure your investment percentages equal 100% 3 Signed and dated this form

/

Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au

PRIVACY: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy, call us on 1300 130 780 or visit www.lucrf.com.au 021.3 Personal Plan Member Investment Choice Form

Page 3 of 3


Member Details form Member Insurance

Personal Plan Member Election Form Insurance Election Form

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Complete this form if you want to apply for or change your Death and Total & Permanent Disablement (TPD) or Death Only insurance cover. Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Insurance Your options LUCRF Super offers a range of insurance options that gives you the flexibility to tailor insurance cover to best suit your personal circumstances. Note: Insurance eligibility is at the discretion of the insurer. Your insurance options are as follows:

LUCRF Super insurance options Products

Types of cover

Death & TPD Provides a benefit to you if you become totally and permanently disabled (upon acceptance) or to your dependants, nominated beneficiaries or legal personal representative in the event of your death.

Fixed Premium or Fixed Amount

Work categories Standard or White Collar

Death Only Provides a benefit to your dependants, nominated beneficiaries, or your legal personal representative (your estate) in the event of your death (upon acceptance).

Fixed Premium or Fixed Amount

Standard or White Collar

Income Protection Provides you with temporary financial support if you are unable to work through illness, injury or accident (upon acceptance). You must complete a Member Income Protection Form if you want to apply for this cover.

Fixed Amount 30, 60 or 90 Day waiting period

Light Blue Heavy Blue, or White Collar

• Fixed Premium (default) This is where the premium (cost) of your insurance is set at a fixed cost per unit. Whilst the premium remains the same, the total insured amount will reduce as you age. • Fixed Amount This type of cover provides a specific dollar amount of insurance. Whilst the amount of cover is fixed and does not change, the premium you pay will increase as you age.

Work categories To reflect the various risks associated with the different jobs people do, there are two work categories for Death and TPD or Death Only insurance; Standard and White collar. • Standard (default) For members whose work includes some degree of manual labour usually conducted outside an office environment.

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

051.3 Personal Plan Member Insurance Election Form

Page 1 of 6

LUCRF0512_080512

• White Collar Where the duties of your occupation are limited to professional, administrative, clerical, secretarial, or similar deskbound (sedentary) tasks that do not involve manual work and are undertaken entirely (or at least 80%) within an office environment.


How to complete this form Fixed Premium or Fixed Amount cover Please use the guide below to help you complete this form and to ensure you only complete the required steps.

Fixed Premium cover Death & TPD and Death Only

Fixed Amount cover Death & TPD and Death Only

Case study 1

Case study 2

Max

Helen

Fixed Premium cover

• • • • •

38 years old Forklift Driver (qualifies for Standard Fixed Premium cover) Mortgage of $180,000 Other debts of $15,000 Married with two children.

Insurance goal: To have enough Death & TPD insurance so that his family could pay off the mortgage and debts as well as having a bit left over, if something were to happen to him.

Fixed Amount Cover

• 36 years old • Payroll Manager (qualifies for White Collar Fixed Amount cover)

• Mortgage of $300,000 • Other debts of $9,000 • Married with four children. Insurance goal: To lock in a fixed amount of Death & TPD cover so that her family could pay off the mortgage and put aside some money for the children’s education, if something were to happen to her.

Wants cover of

$230,000 (approximately)

Cover available per unit

Wants cover of

$400,000 (approximately)

$79,200 (based on job and age)

Selects the following

Cover available per unit

$1,000 per unit (based upon job and age)

3 units of Death & TPD Fixed Premium cover

Is covered for

$237,600

Selects the following

400 units of Death & TPD Fixed Amount cover

How it is calculated

 unit of Standard Fixed Premium Death & 1 TPD cover for a 38 year old = $79,200

Is covered for

$400,000

How it is calculated

1 unit of White Collar Fixed Amount cover Death & TPD for a 36 year old = $1,000 which costs $0.76 per year.

If Max wants to be covered for $230,000 he multiplies $79,200 (1 unit) x 3 = $237,600

Total cost of cover selected

1 unit of Death & TPD cover for a 38 year old costs $2 per week 3 units of Death & TPD cover = $2 per week x 3 units

If Helen wants to be covered for $400,000 she multiplies $1,000 (1 unit) x 400 = $400,000

$6 per week (deducted from Max’s super account quarterly)

400 x $0.76 (cost for 1 unit) = $304.00 premium per year Total cost of cover selected

Steps you must complete: ✔ Step 1 Your personal details

$304.00 divided by 52 weeks in a year = $5.85 per week (deducted from Helen’s super account quarterly)

✔ Step 2 Fixed Premium cover ✔ Step 5 Sign and date this form

Steps you must complete:

Other forms you must complete:

✔ Step 1 Your personal details

✔ OnePath Personal Statement In order for you to apply for, or change your insurance cover as a LUCRF Super Personal Plan member, you will also need to complete a OnePath Personal Statement. To obtain a copy, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

✔ Step 3 Fixed Amount cover ✔ Step 5 Sign and date this form

Other forms you must complete: ✔ OnePath Personal Statement In order for you to apply for, or change your insurance cover as a LUCRF Super Personal Plan member, you will also need to complete a OnePath Personal Statement. To obtain a copy, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Converting your cover (for an equivalent amount of cover only) If you would like to convert your existing insurance between Fixed Premium and Fixed Amount cover, you only need to complete Steps 1, 4 and 6 of this form. IMPORTANT: If you want to convert your existing insurance between Fixed Premium and Fixed Amount cover AND change the amount of cover you currently have, you need to also complete go to either step 2 or 3. To increase your insurance cover, please refer to ‘How to complete this form’ on page 2 for further instructions.

051.3 Personal Plan Member Insurance Election Form

Page 2 of 6


Personal Plan Member Insurance Election Form Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address â&#x20AC;&#x201C; if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Contact details Home

Work

Mobile

Fax

Email address

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

051.3 Personal Plan Member Insurance Election Form

Page 3 of 6


Step 2 Fixed Premium cover Only complete this step if you are applying for or changing your Fixed Premium cover. Fill in the relevant table below to select the type of insurance and the total number of units you wish to apply for. D  eath and TPD insurance cover This type of cover costs $2 per week per ‘unit’ of cover Standard cover

Death Only insurance cover This type of cover costs $1 per week per ‘unit’ of cover

White Collar cover

Standard cover

White Collar cover

Your age at next birthday

Per unit

$172,400

Up to 30

$67,600

$116,100

$98,400

$168,900

31 to 35

$50,900

$87,400

36 to 40

$79,200

$136,100

36 to 40

$50,900

$87,400

41 to 45

$44,100

$75,700

41 to 45

$38,100

$65,500

46 to 50

$22,100

$37,900

46 to 50

$22,100

$37,900

51 to 55

$12,400

$21,300

51 to 55

$22,100

$37,900

56 to 60

$7,300

$12,700

56 to 60

$22,100

$37,900

61 to 65

$6,600

$11,400

61 to 65

$19,800

$34,000

66 to 70

$4,500*

66 to 70

$12,500

$22,000

Your age at next birthday

Per unit

Up to 30

$100,400

31 to 35

No. of units required

Per unit

$7,500*

No. of units required

No. of units required

Per unit

No. of units required

If you are aged 66 to 70 next birthday, your TPD cover is restricted. (Please refer to our Super Member Essentials for further details).

*

OnePath Personal Statement In order for you to apply for, or change your insurance cover as a LUCRF Super Personal Plan member, you will also need to complete a OnePath Personal Statement. To obtain a copy, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Your insurance selection Age at next birthday Years of age Work category (please cross [X] one box only) Standard (default)

Insurance product (please cross [X] one box only) Death & TPD cover

Death Only cover

Total number of insurance units Units of insurance cover

White Collar

051.3 Personal Plan Member Insurance Election Form

Page 4 of 6


Step 3 Fixed Amount cover Only complete this step if you are applying for or changing your Fixed Amount cover.

Fixed Amount: Annual premium rate per $1,000 insured Age at next birthday Up 31 36 41 46 51 56 61 66

to to to to to to to to to

30 35 40 45 50 55 60 65 70

Standard Death & TPD

White Collar Death Only

Death & TPD

Death Only

$0.77 $1.02 $1.02 $1.36 $2.35 $2.35 $2.35 $2.63 $4.16

$0.60 $0.62 $0.76 $1.37 $2.74 $4.88 $8.19 $9.12 $13.87*

$0.45 $0.59 $0.59 $0.79 $1.37 $1.37 $1.37 $1.53 $2.36

$1.06 $1.06 $1.31 $2.36 $4.71 $8.39 $14.25 $15.76 $23.11*

*TPD cover is restricted to specific loss, loss of independent existence and cognitive loss only (see Super Member Essentials for further details).

NOTE: You cannot apply for Fixed Amount cover if you are aged 60 and above.

OnePath Personal Statement In order for you to apply for, or change your insurance cover as a LUCRF Super Personal Plan member, you will also need to complete and attach a OnePath Personal Statement. To obtain a copy, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.

Your insurance selection Age at next birthday

Insurance product (please cross [X] one box only)

Years of age Work category (please cross [X] one box only) Standard (default)

Death & TPD cover

Death Only cover

Amount of insurance cover (must be a multiple of $1,000) $

White Collar

051.3 Personal Plan Member Insurance Election Form

Page 5 of 6


Step 4 Converting your insurance cover Only complete this step if you want to convert your existing insurance between Fixed Premium and Fixed Amount cover for the equal amount of cover.

Important information • When converting from Fixed Premium to Fixed Amount cover, your insurance will be rounded up the next $1,000 value • When converting from Fixed Amount to Fixed Premium cover, your insurance will be rounded up to the next unit of cover. Any additional insurance received from rounding up, will be subject to New Events cover for a period of 24 months • The maximum amount of insurance cover with LUCRF Super is $2 million. If rounding up your cover results in your insurance above being this maximum amount, you will be given the nearest unit or $1,000 amount of insurance equal to or below $2 million • You cannot convert insurance cover from Fixed Premium to Fixed Amount cover if you are aged 60 or above.

Please select (cross [X] one box only) to convert the type of cover you require

I wish to convert my existing Fixed Premium insurance to Fixed Amount cover OR I wish to convert my existing Fixed Amount insurance to Fixed Premium cover To convert your Fixed Amount or Fixed Premium over, you will need to complete and attach a OnePath Personal Statement. To obtain a OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Step 5 Sign and date this form Duty of disclosure Before you become insured under a contract of life insurance, the Trustee has a duty of disclosure to the Insurer, under the Insurance Contracts Act 1984. In order for the Trustee to comply with its duty, you must disclose, in this application form or any other application form you complete in relation to life insurance, every matter that you know, or could reasonably be expected to know, is relevant to the Insurer’s decision whether to accept the risk of the insurance and, if so, on what terms. The duty of disclosure also applies before cover is renewed, varied or reinstated. Your duty, however, does not require disclosure of a matter: • That diminishes the risk undertaken by the Insurer • That is of common knowledge • That the Insurer knows or, in the ordinary course of his/her business, ought to know, or • As to which the duty of disclosure is waived by the Insurer.

Non-disclosure If the duty of disclosure is not complied with and the Insurer would not have provided the insurance cover on any terms if the failure had not occurred, the Insurer may void the cover within three years of entering into it. If the non-disclosure is fraudulent, the Insurer may void the cover at any time. An Insurer who is entitled to void insurance cover may, within three years of entering into it, elect not to void it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the premium that would have been payable if you disclosed all relevant matters to the Insurer. The duty of disclosure continues until the Insurer accepts (or declines) your application and confirmation is issued in writing. Declaration • I confirm that all of the answers given by me on this form are true and correct • I declare that I have been clearly informed, in writing, of the general nature and effect of disclosure as detailed above, and • I understand I will be notified in writing of the acceptance of my insurance application.

Sign (member signature)

7

Date (dd/mm/yyyy)

Checklist

Before you send the form to us, make sure you have:

3

Indicated the level of cover and number of units you wish to apply for

3

Completed and attached a OnePath Personal Statement

3

Signed and dated this form

/

/

Send Send this this form form to: to: LUCRF Super PO Box 211 North Melbourne VIC 3051 Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au Privacy: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy call us on 1300 130 780 or visit www.lucrf.com.au 051.3 Personal Plan Member Insurance Election Form

Page 6 of 6


Member Details form

Personal Plan Member Income Protection Form

w

Complete this form if you are either an employee or self-employed and want to apply for Income Protection insurance cover.

Income Protection insurance cover also known as ‘salary continuance’ insurance is separate from our Death and Total & Permanent Disablement (TPD) or Death Only cover. This type of insurance is designed to bridge the gap where you are unable to work as a result of an injury or illness and are receiving reduced or no income. The benefit you receive is paid for a period of up to two years. You have the flexibility to choose from a 30, 60 or 90 day waiting period. Income Protection insurance cover is available with or without our Death and Total & Permanent Disablement (TPD) or Death Only cover. You can apply for up to 85% of your pre-injury or illness salary. This is made up of up to 75% paid to you as income and any amount above this up to 10% paid as a super contribution into your LUCRF account. Maximum benefit of up to $20,000 per month. Note: Your income protection payment may be reduced if you receive any employment income, workers compensation, social security or other statutory or Government payments at the time you make a claim. This cover is not available to casual employees or employees working less than 15hrs per week.

Please complete all relevant sections using CAPITAL LETTERS and a black or BLUE pen.

Step 1 Your personal details LUCRF Super membership number (if known)

Date of birth (dd/mm/yyyy) /

Please cross [X] the appropriate box:

Mr

Mrs

Miss

Ms

/

Other (please specify)

Surname

First name/s

Residential/Street address (compulsory) Unit/Street number

Street name

Suburb/City/Town

State/Territory Postcode

Postal address – if different to residential Unit/Street/PO Box number

Street name

Suburb/City/Town

State/Territory Postcode

Please send all correspondence to (please cross [X]):

Residential address

Postal address

Home

Work

Mobile

Fax

Email address

Issued by LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee of LUCRF Super ABN 26 382 680 883 Super Member Guide (Product Disclosure Statement), 22 June 2012.

053.0 Personal Plan Member Income Protection Form

Page 1 of 4

LUCRF0512_080512

Contact details


Income Protection cover Insurance tables The cost of Income Protection insurance with LUCRF Super depends on your age, gender, work category and the waiting period you select.

The example below is to help you determine how to calculate the level and cost of cover that may suit you.

John

• 25 years old at next birthday

• Heavy Machine Operator

Wants cover of

$595 (85% of $700)

Cost of cover

$0.36 per $100 weekly benefit

Maximum cover limit

John can apply up to 85% of his salary ($700 per week)

How to work out cover

$700 per week salary x 85% (of gross salary) = $595 per week So, $595 per week / $100 weekly benefit = 6 units (rounded to the nearest $100)

(Heavy Blue Collar)

• Gross weekly salary

6 units x $0.36 = $2.16 per week

of $700

• 60 day waiting period.

John chooses

$600 per week of income protection cover

Cost per week

$2.16 (deducted from John’s super account)

Refer to the tables below to determine the cost of your income protection insurance cover.

1

White collar – Weekly premium you pay per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Age next birthday

Male

Female

Male

Female

Male

16–20

$0.23

$0.23

$0.12

$0.13

$0.08

$0.09

21–25

$0.24

$0.24

$0.12

$0.13

$0.08

$0.09

26–30

$0.25

$0.27

$0.13

$0.15

$0.08

$0.10

31–35

$0.31

$0.35

$0.16

$0.20

$0.08

$0.11

36–40

$0.41

$0.48

$0.21

$0.28

$0.11

$0.15

41–45

$0.56

$0.65

$0.30

$0.39

$0.17

$0.24

46–50

$0.79

$0.88

$0.43

$0.53

$0.28

$0.37

51–55

$1.15

$1.19

$0.68

$0.77

$0.49

$0.58

56–60

$1.75

$1.65

$1.04

$1.07

$0.87

$0.85

61–65

$1.99

$1.73

$1.22

$1.11

$0.99

$0.80

2

Female

Light Blue – Weekly premium you pay per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Age bext birthday

Male

Female

Male

Female

Male

16–20

$0.40

$0.43

$0.24

$0.26

$0.16

$0.18

21–25

$0.42

$0.45

$0.25

$0.27

$0.17

$0.18

26–30

$0.45

$0.51

$0.27

$0.31

$0.16

$0.21

31–35

$0.54

$0.67

$0.32

$0.40

$0.17

$0.22

36–40

$0.72

$0.91

$0.43

$0.56

$0.22

$0.30

41–45

$0.99

$1.24

$0.61

$0.79

$0.35

$0.48

46–50

$1.39

$1.67

$0.87

$1.07

$0.56

$0.75

51–55

$2.03

$2.27

$1.37

$1.54

$0.99

$1.17

56–60

$3.10

$3.15

$2.10

$2.15

$1.76

$1.72

61–65

$3.52

$3.29

$2.46

$2.23

$2.00

$1.61

3

Female

Heavy Blue – Weekly premium you pay per $100 weekly benefit 30 day waiting period

60 day waiting period

90 day waiting period

Age next birthday

Male

Female

Male

Female

Male

16–20

$0.59

$0.63

$0.34

$0.38

$0.21

$0.23

21–25

$0.61

$0.65

$0.36

$0.39

$0.22

$0.24

26–30

$0.66

$0.74

$0.39

$0.45

$0.21

$0.27

31–35

$0.79

$0.97

$0.47

$0.59

$0.22

$0.29

36–40

$1.05

$1.33

$0.62

$0.81

$0.29

$0.39

41–45

$1.44

$1.81

$0.89

$1.15

$0.46

$0.63

46–50

$2.03

$2.44

$1.26

$1.56

$0.74

$0.98

51–55

$2.96

$3.30

$1.99

$2.24

$1.30

$1.54

56–60

$4.51

$4.58

$3.05

$3.13

$2.30

$2.25

61–65

$5.13

$4.79

$3.57

$3.24

$2.61

$2.10

Female

053.0 Personal Plan Member Income Protection Form

Page 2 of 4


Step 2 Your work category Your type of work is used to determine the cost of your Income Protection insurance cover. There are three separate work categories to choose from:

White Collar

1

For professional, clerical or administrative white collar workers who do not perform any manual work, as well as sales people not involved in deliveries

Light Blue

2

For skilled and unskilled workers, performing light manual work and involved in non-hazardous industries and/or tasks. Light Blue also covers supervisors of heavy blue workers or fully qualified tradespeople (details of qualifications must be provided) 3

Heavy Blue For skilled or semi-skilled manual workers and heavy machine operators who are not exposed to high risk accidents, health hazards or who do not participate in high risk occupations are classified Heavy Blue.

Please indicate the work category that applies to you (cross [X] one box only). White Collar

Light Blue

Heavy Blue

What is your job title?

Please indicate the type of work you do

If you need help determining your work category, please call a LUCRF Representative on 1300 130 780.

Step 3 OnePath Personal Statement In order for you to apply for, or change your insurance cover as a LUCRF Super Personal Plan member, you will also need to complete a OnePath Personal Statement. To obtain a copy, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Note: Insurance eligibility is at the discretion of the insurer.

053.0 Personal Plan Member Income Protection Form

Page 3 of 4


Step 4 Select the amount of cover you want to apply for Please complete this section to apply for income protection insurance cover. I am currently working in excess of 15 hours per week and I am not a casual employee (cross [X] one box only): Yes

No

Note: Income Protection cover is not available to casual employees, or employees working less than 15 hrs per week.

Gender (cross [X] one box only): Female

Male

Please select your waiting period (cross [X] one box only): 30 days

60 days

90 days

Amount of cover I would like to apply for: My annual gross (before tax) salary is:

$

weekly benefit of income protection cover (benefit must be a multiple of $100).

$

If you are applying for Income Protection insurance cover, you will need to complete a OnePath Personal Statement. To obtain a copy of the OnePath Personal Statement, please call LUCRF Super on 1300 130 780 or download a copy from www.lucrf.com.au

Step 5 Sign and date this form Duty of disclosure

Non-disclosure

Before you become insured under a contract of life insurance, the Trustee has a duty of disclosure to the Insurer, under the Insurance Contracts Act 1984. In order for the Trustee to comply with its duty, you must disclose, in this application form or any other application form you complete in relation to life insurance, every matter that you know, or could reasonably be expected to know, is relevant to the Insurer’s decision whether to accept the risk of the insurance and, if so, on what terms. The duty of disclosure also applies before cover is renewed, varied or reinstated.

If the duty of disclosure is not complied with and the Insurer would not have provided the insurance cover on any terms if the failure had not occurred, the Insurer may void the cover within three years of entering into it. If the non-disclosure is fraudulent, the Insurer may void the cover at any time. An Insurer who is entitled to void insurance cover may, within three years of entering into it, elect not to void it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the premium that would have been payable if you disclosed all relevant matters to the Insurer. The duty of disclosure continues until the Insurer accepts (or declines) your application and confirmation is issued in writing.

Your duty, however, does not require disclosure of a matter: • That diminishes the risk undertaken by the Insurer • That is of common knowledge • That the Insurer knows or, in the ordinary course of his/her business, ought to know, or • As to which the duty of disclosure is waived by the Insurer.

Declaration • I confirm that all of the answers given by me on this form are true and correct • I declare that I have been clearly informed, in writing, of the general nature and effect of disclosure as detailed above, and • I understand I will be notified in writing of the acceptance of my insurance application.

Sign (member signature)

7

Checklist

Before you send the form to us, make sure you have:

3 3 3

Date (dd/mm/yyyy)

Indicated the level of cover and number of units you wish to apply for Completed and attached a OnePath Personal Statement Signed and dated this form

/

/

Send this form to: LUCRF Super PO Box 211 North Melbourne VIC 3051 Fax: (03) 9326 6907 Email: mypartner@lucrf.com.au

If you need any help completing this form, please call us on 1300 130 780 or email mypartner@lucrf.com.au Privacy: LUCRF Super is committed to the National Privacy Principles set down by the Federal Government (see www.privacy.gov.au) and has produced a Privacy Policy. For a copy of the LUCRF Super Privacy Policy call us on 1300 130 780 or visit www.lucrf.com.au 053.0 Personal Plan Member Income Protection Form

Page 4 of 4


Request to transfer whole balance of superannuation benefits between funds

under the Superannuation Industry (Supervision) Act 1993 cOMPlETINg THIS FORM n n n

AFTER cOMPlETINg THIS FORM

Read the important information pages Refer to instructions where indicated with a This form is only for whole (not part) balance transfers.

n n

Sign the authorisation Send form and certified proof of identity documents to either your FROM or TO fund.

Personal details Title:

Mrs

Mr

Miss

Ms

Other

Residential address *Address

*Family name *Given names

*Suburb

Other/previous names

*Postcode

*State/territory Day

Month

Year

*Date of birth Tax file number Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your tax file number, but there may be tax consequences.

Previous address If you know that the address held by your FROM fund is different to your current residential address, please give details below.

Address

See ‘What happens if I do not quote my tax file number?’

*Gender

Suburb Male

Female

Postcode

State/territory

*Contact phone number

Fund details FROM

TO

*Fund name

*Fund name

Fund phone number

*Fund phone number

Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN)

*Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN)

If you have multiple account numbers with this fund, you must complete a separate form for each account you wish to transfer.

*Proof of identity

LUCRF Super PO Box 211, North Melbourne VIC 3051 1 3 0 0 1 3 0 7 8 0

26 382 680 883 LUC0001AU

You must check with your TO fund to ensure they can accept this transfer.

See ‘Completing proof of identity’

I have attached a certified copy of my driver’s licence or passport OR I have attached certified copies of both: Birth/Citizenship Certificate or Centrelink Pension Card AND Centrelink payment letter or Government or local council notice (<1 year old) with name and address

Authorisation By signing this request form I am making the following statements: n I declare I have fully read this form and the information completed is true and correct n I am aware I may ask my superannuation provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and do not require any further information. n If the TO fund is a self managed superannuation fund (SMSF), I confirm that I am a member, trustee or director of a corporate trustee of the SMSF. n I discharge the superannuation provider of my FROM fund of all further liability

in respect of the benefits paid and transferred to my TO fund.

*Name (Print in BLOCK LETTERS) *Signature

Day

Month

Year

*Date

I request and consent to the transfer of superannuation as described above and authorise the superannuation provider of each fund to give effect to this transfer. * Denotes mandatory field. If you do not complete all of the mandatory fields, there may be a delay in processing your request. JS 6676‑03.2007

100.3

IN-CONFIDENCE – when completed

Page 


Completing the request to transfer whole balance of superannuation benefits between funds form By completing this form, you will request the transfer of the WHOLE balance of your superannuation benefits between funds. This form can NOT be used to transfer part of the balance of your superannuation benefits. This form will NOT change the fund to which your employer pays your contributions. The Standard Choice Form must be used by you to change funds.

BEFORE COMPLETING THIS FORM n Read

the important information below. n Check that the fund you are transferring your benefits TO can accept this transfer.

WHEN COMPLETING THIS FORM n Refer

to these instructions where a question shows a message like this: n Print clearly in BLOCK LETTERS.

AFTER COMPLETING THIS FORM n Sign

the authorisation. the appropriately certified proof of identity documents. n Review the checklist below. n Send the request form to your fund. n Attach

THINGS YOU NEED TO CONSIDER WHEN TRANSFERRING YOUR SUPERANNUATION

When you transfer your superannuation, your entitlements under that fund may cease. You need to consider all relevant information before you make a decision to transfer your superannuation. If you ask for information, your superannuation provider must give it to you. Some of the points you may consider are: n Fees – your FROM fund must give you information about any exit or withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees as well as exit or withdrawal fees. Your TO fund may also charge entry or deposit fees on transfer. Differences in fees funds charge can have a significant effect on what you will have to retire on. For example, a 1% increase in fees may significantly reduce your final benefit. and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have. Other funds may not offer insurance, or may require you to pass a medical examination before they cover you. When considering a new fund, you may wish to check the costs and amount of any cover offered.

n Death

IMPORTANT INFORMATION This transfer may close your account (you will need to check this with your FROM fund). This form can NOT be used to: part of the balance of your superannuation benefits n transfer benefits if you don’t know where your superannuation is n transfer benefits from multiple funds on this one form – a separate form must be completed for each fund you wish to transfer superannuation from n change the fund to which your employer pays contributions on your behalf n open a superannuation account, or n transfer benefits under certain conditions or circumstances, for example if there is a superannuation agreement under the Family Law Act 1975 in place. n transfer

CHECKLIST Have you read the important information? Have you considered where your future employer contributions will be paid? Have you checked your TO fund can accept the transfer? Have you completed all of the mandatory fields on the form? Have you signed and dated the form? Have you attached the certified documentation including any linking documents if applicable?

WHAT HAPPENS IF I DO NOT QUOTE MY TAX FILE NUMBER (TFN)?

You are not obligated to provide your TFN to your superannuation fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate plus the Medicare levy on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund may deduct this additional tax from your account. If your superannuation fund does not have your TFN, you will not be able to make personal contributions to your superannuation account. Choosing to quote your TFN will also make it easier to keep track of your superannuation in the future. Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another superannuation provider, when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other trustee.

TRANSFERS TO SELF MANAGED SUPERANNUATION FUNDS

You may use this form to transfer your benefits to your own self managed superannuation fund (SMSF).

WHAT HAPPENS TO MY FUTURE EMPLOYER CONTRIBUTIONS?

You should be aware that SMSFs are subject to the same rules and restrictions as other funds, when benefits are to be paid out. In particular, superannuation benefits in a SMSF are required to be ‘preserved’, meaning they are not generally able to be accessed until you are over age 55 and retired.

If you wish to change the fund into which your contributions are being paid, you will need to speak to your employer about Choice. For the appropriate forms and information about whether you are eligible to choose the fund to which your employer contributions are made, visit www.superchoice.gov.au or call the Australian Taxation Office on 13 10 20.

The trustee of your FROM fund may be able to request further information from you about your status as a member, a trustee or a director of a corporate trustee of your SMSF, if there are multiple transfer requests to your SMSF. Penalties may apply for providing false or misleading information.

Using this form to transfer your benefits will not change the fund to which your employer pays your contributions and may close the account you are transferring your benefits FROM.

JS 6676‑03.2007

IN-CONFIDENCE – when completed

Page 1


Completing proof of identity

You will need to provide documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong.

ACCEPTABLE DOCUMENTS

The following documents may be used. EITHER One of the following documents only: n driver’s licence issued under State or Territory law n passport. OR One of the following documents: n birth certificate or birth extract n citizenship certificate issued by the Commonwealth n pension card AND issued by Centrelink that entitles the person to financial benefits.

One of the following documents: n letter from Centrelink regarding a Government assistance payment n notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example: – Tax Office Notice of Assessment – Rates notice from local council.

HAvE YOU CHANGED YOUR NAME OR ARE YOU SIGNING ON BEHALF OF ANOTHER PERSON?

If you have changed your name or are signing on behalf of the applicant, you will need to provide a certified linking document. A linking document is a document that proves a relationship exists between two (or more) names. The following table contains information about suitable linking documents. Purpose

Suitable linking documents

Change of name

Marriage certificate, deed poll or change of name certificate from the Births, Deaths and Marriages Registration Office.

Signed on behalf of the applicant

Guardianship papers or Power of Attorney.

CERTIFICATION OF PERSONAL DOCUMENTS

All copied pages of ORIGINAL proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so (see below). The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualification (eg Justice of the Peace, Australia Post employee, etc) and date. The following can certify copies of the originals as true and correct copies: n a permanent employee of Australia Post with five or more years of continuous service n a finance company officer with five or more years of continuous service (with one or more finance companies) n an officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having five or more years continuous service with one or more licensees n a notary public officer n a police officer n a registrar or deputy registrar of a court n a Justice of the Peace n a person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia, as a legal practitioner n an Australian consular officer or an Australian diplomatic officer n a judge of a court n a magistrate, or n a Chief Executive Officer of a Commonwealth court.

WHERE DO I SEND THE FORM?

You can send your completed and signed form with your certified proof of identity documents to either fund.

MORE INFORMATION For more information about superannuation, visit the: n Australian Securities and Investments Commission website at www.fido.asic.gov.au, or n Australian Taxation Office website at www.ato.gov.au/super For more information about this form, phone the Australian Taxation Office on 13 10 20.

IN-CONFIDENCE – when completed

Page 


Notice of Compliance LUCRF Super SFN: 1397 049 48 LUCRF Super ABN: 26 382 680 883 LUCRF Super Superannuation Product Identification Number (SPIN): LUC0001AU To whom it may concern I confirm the following details on behalf of LUCRF Pty Ltd, the Trustee for the Labour Union Co-operative Retirement Fund (LUCRF Super): 1. The registered office of the Fund is: 833 Bourke Street, Docklands, Victoria 3008 2. LUCRF Super is a complying superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS Act) 3. LUCRF Super is able to accept superannuation contributions for eligible persons. These contributions are maintained and subsequently paid only in accordance with the SIS regulations 4. The LUCRF Super Trust Deed allows benefits of any amount to be accepted as rollovers. Any unrestricted non-preserved portion of the rollover will remain unrestricted and may be cashed out by the member at any time 5. LUCRF Super has never been subject to a direction under Section 63 of the SIS Act 6. LUCRF Super meets the insurance requirements to be chosen as a default fund by employers for the purposes of the Choice of Superannuation Fund legislation 7. LUCRF Super is able to accept contributions from employers. The Trustee approves all employer-sponsors to pay on such frequency that they choose, provided that they meet their statutory obligations. Contributions can be remitted by cheque, electronic funds transfer (EFT) and BPAY. Any further queries regarding this notification should be directed to this office. Yours faithfully

LUCRF0512_080512

Greg Sword AM Chief Executive Officer

Phone 1300 130 780 Fax (03) 9326 6907 Web www.lucrf.com.au E-mail mypartner@lucrf.com.au Post PO Box 211 North Melbourne VIC 3051

An award-winning fund

Office Locations (please use Postal Address for all correspondence) Head Office 833 Bourke Street Docklands VIC 3008

New South Wales Lvl 1, 1 Bridge Street Granville NSW 2142

Queensland 17 Cribb Street Milton QLD 4064

South Australia 46 Greenhill Road Wayville SA 5034

LUCRF Pty Ltd ABN 18 005 502 090 AFSL 258481 as Trustee for LUCRF Super ABN 26 382 680 883.


Contact LUCRF Super

1300 130 780 Web: www.lucrf.com.au E-mail: mypartner@lucrf.com.au Post: PO Box 211 North Melbourne VIC 3051 Fax: (03) 9326 6907


Super Member Essentials