australian catholic superannuation and retirement...
TRANSCRIPT
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 1 of 39
Australian Catholic Superannuation and Retirement Fund Employer Sponsored, Personal Plan, MySuper, RetireChoice
PDS 01 October 2015
Fees: From 1 October 2015, the indirect cost ratio of 0.25% was removed and replaced with an asset based administration fee of 0.25%. Fees and costs for all investment options have been updated as follows:
New Fees (%) Old Fees (%)
Option Name Total IMF
Performance Fee
Base IMF
Buy / Sell
Margin
Total IMF
Performance Fee
Base IMF
Buy / Sell
Margin
Total IMF Change
(bps)
Australian Shares 0.44 0.05 0.39 - 0.46 0.04 0.42 0.21 -2
Bonds 0.28 - 0.28 - 0.29 - 0.29 0.07 -1
Cash and Term Deposit 0.09 - 0.09 - 0.07 - 0.07 0.00 2
Conservative 0.49 0.14 0.35 - 0.42 0.04 0.38 0.26 7
Conservative Balanced 0.58 0.18 0.40 - 0.49 0.05 0.44 0.35 9
Growth 0.63 0.19 0.44 - 0.55 0.07 0.48 0.43 8
International Shares 0.21 0.00 0.21 - 0.29 0.02 0.27 0.38 -8
MySuper Balanced 0.70 0.23 0.47 - 0.60 0.08 0.52 0.48 10
Property 0.85 0.08 0.77 - 0.88 0.04 0.84 1.14 -3
Shares 0.32 0.02 0.30 - 0.37 0.03 0.34 0.30 -5
Socially Responsible Balanced 0.77 - 0.77 - 0.77 - 0.77 0.44 0
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 2 of 39
… Continued Australian Catholic Superannuation and Retirement Fund
Employer Sponsored, Personal Plan, MySuper, RetireChoice PDS
01 October 2015
Investment: The investment objectives of the following funds have been updated as follows:
New Old
Option Name CPI
Target Objective Time
Frame CPI Target Objective Time
Frame
Australian Shares none 10 none 10
Bonds none 10 none 3
Conservative 1.5 10 2 3
Conservative Balanced 2 10 2.5 5
Growth 3.5 10 4 10
MySuper Balanced 3 10 3.5 10
Property 3 10 3.5 7
Shares 3.5 10 4 10
Socially Responsible Balanced 3 10 3.5 10
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 3 of 39
… Continued Australian Catholic Superannuation and Retirement Fund
RetireSmart PDS
01 October 2015
Investment: Australian Catholic Super released a new account based pension product called RetireSmart. RetireSmart utilise an investment ‘bucket’ approach with a minimum initial investment of $100,000. Money in RetireSmart is invested in Growth and Cash buckets, with the Cash bucket credited with two years’ worth of member pension payments. Member accounts are re-balanced every quarter or every year to ensure that any capital growth, income or excess cash generated from the Growth bucket is distributed to the Cash bucket. Lump sum withdrawals are also taken from the Cash bucket, provided a minimum of two years’ worth of pension payments remains in the bucket. Any shortage of payments will be taken out of the Growth bucket. Fees: Fees associated with RetireSmart are as follows: Administration Fee: $78 per year plus 0.25% of account balance Exit Fee: $55 Withdrawal Fee: $55
Option Name Total
IMF (%) Performance
Fee (%)
Base IMF (%)
Buy / Sell Margin (%)
Cash and Term Deposit 0.09 - 0.09 -
Growth 0.63 0.19 0.44 -
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 4 of 39
Building Unions Superannuation Pension Choice
PDS 30 September 2015
Investment: From 30th of September 2015, the minimum initial investment in BUSSQ Pension Choice increased to $25,000 from previous $10,000. Pension members who don’t make an investment choice will automatically be invested in the Blended Growth Strategy. This option invests 15% of the members’ funds in the cash option and 85% in the balanced growth option. Pension payments are initially drawn from funds invested in the Cash option. When the cash option is fully depleted, future pension payments will come from the balanced growth option. This strategy gives the balanced growth option, which is a longer term investment, time to grow before drawing from it. Fees: The indirect cost ratios have been updated as shown in the table below:
Option Name New ICR
(%) Old ICR
(%) Change
(bps)
All Shares 0.84 0.84 na
Australian (Larger Companies) Shares 0.48 0.5 -2
Australian (Small Companies) Shares 0.8 0.82 -2
Australian Shares 0.54 0.55 -1
Balanced Growth 0.72 0.81 -9
Cash 0.21 0.22 -1
Defensive 0.64 0.67 -3
Diversified Fixed Interest 0.45 0.47 -2
High Growth 0.75 0.88 -13
International (Emerging Markets) Shares 1.44 1.29 15
International Shares 1.14 1.13 1
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 5 of 39
Catholic Super
Employer, Personal, MySuper, Pension PDS
01 October 2015
Fees: The investment management fees have been updated as per table below:
New Fees (%) Old Fees (%)
Option Name Total IMF
Performance Fee
Base IMF
Total IMF
Performance Fee
Base IMF
Change (bps)
Aggressive 0.75 0.06 0.69 0.72 0.06 0.66 3
Australian Shares 0.57 0.10 0.47 0.60 0.10 0.50 -3
Balanced 0.72 0.06 0.66 0.67 0.06 0.61 5
Cash 0.07 0.00 0.07 0.07 0.00 0.07 0
Conservative 0.49 0.05 0.44 0.47 0.05 0.42 2
Conservative Balanced 0.64 0.06 0.58 0.61 0.06 0.55 3
Diversified Fixed Interest 0.40 0.06 0.34 0.42 0.06 0.36 -2
FlexiTerm Deposit 0.19 0.00 0.19 0.19 0.00 0.19 0
Moderately Aggressive 0.73 0.06 0.67 0.70 0.06 0.64 3
Moderately Conservative 0.55 0.05 0.50 0.53 0.05 0.48 2
Overseas Shares 0.70 0.03 0.67 0.70 0.03 0.67 0
Property 0.65 0.04 0.61 0.65 0.04 0.61 0
RetirePlus 0.56 0.02 0.54 0.54 0.02 0.52 2
RetireStable 0.47 0.02 0.45 0.50 0.02 0.48 -3
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 6 of 39
Grosvenor Pirie Master Superannuation Fund Series 2 Super and Account Based Pension
PDS, SPDS 15 September 2015
Fund Features: Non-lapsing binding death benefit nomination and child reversionary pension have been added to the various types of beneficiaries ’ nomination offered by the fund. Insurance: The Death and Death TPD premium rates per $1,000 insured have been updated as shown in the table below:
New Rates ($) Old Rates ($)
ANB Death Only Death & TPD Death Only Death & TPD Death Only Death & TPD
Male Female Male Female Male Non Smoker
Male Smoker
Male Non Smoker
Male Smoker
Female Non
Smoker
Female Smoker
Female Non
Smoker
Female Smoker
20 0.59 0.22 0.64 0.24 0.73 1.01 0.92 1.27 0.25 0.31 0.42 0.55
25 0.64 0.18 0.74 0.22 0.78 1.16 0.95 1.42 0.21 0.27 0.37 0.50
30 0.57 0.22 0.71 0.30 0.66 1.07 0.84 1.35 0.25 0.34 0.40 0.59
35 0.58 0.31 0.77 0.49 0.60 1.11 0.81 1.47 0.33 0.49 0.52 0.84
40 0.75 0.49 1.13 0.84 0.71 1.37 1.02 1.93 0.52 0.81 0.81 1.33
45 1.05 0.76 1.70 1.43 0.94 1.90 1.53 2.96 0.78 1.26 1.33 2.24
50 1.61 1.14 2.81 2.30 1.47 2.95 2.73 5.04 1.16 1.86 2.31 3.80
55 2.67 1.69 5.09 3.67 2.58 4.89 5.62 9.35 1.75 2.69 4.52 6.80
60 4.58 2.87 9.40 6.65 4.74 7.86 12.69 18.19 3.03 4.28 10.27 13.77
65 8.91 5.01 18.91 12.34 9.05 13.74 24.09 36.26 5.42 7.15 19.05 27.77
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 7 of 39
… Continued Grosvenor Pirie Master Superannuation Fund Series 2
Super and Account Based Pension PDS, SPDS
15 September 2015
Insurance: The income protection premium rates per $100 of monthly benefit have been updated as shown in the table below: 30 day waiting period:
New Rates ($) Old Rates ($)
Male Female Male Male Female Female ANB
non-
smoker smoker non-
smoker smoker
20 5.52 6.07 4.77 5.96 7.99 9.98
25 5.03 6.32 4.77 5.96 7.99 9.98
30 5.23 7.33 5.10 6.37 9.25 11.57
35 6.42 9.67 6.35 7.93 12.34 15.42
40 8.50 13.13 8.48 10.60 16.87 21.08
45 11.64 17.69 11.69 14.61 22.83 28.54
50 16.35 23.59 16.49 20.62 30.53 38.16
55 23.68 31.54 24.06 30.07 41.09 51.36
60 35.52 43.04 36.54 45.67 56.69 70.87
65 17.88 20.27 57.28 71.60 81.29 101.61
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 8 of 39
… Continued Grosvenor Pirie Master Superannuation Fund Series 2
Super and Account Based Pension PDS, SPDS
15 September 2015
Insurance: 60 day waiting period:
New Rates ($) Old Rates ($)
Male Female Male Male Female Female ANB
non-
smoker smoker non-
smoker smoker
20 4.88 5.05 4.16 5.21 6.92 8.65
25 4.12 5.24 4.16 5.21 6.92 8.65
30 4.03 6.15 4.44 5.55 8.05 10.06
35 4.84 7.75 5.54 6.92 10.80 13.50
40 6.55 10.68 7.58 9.47 14.97 18.71
45 9.59 15.62 10.59 13.23 20.60 25.74
50 14.87 23.09 14.95 18.69 27.48 34.35
55 23.99 33.50 22.08 27.60 37.46 46.82
60 39.44 47.18 33.28 41.60 51.29 64.11
65 16.45 17.25 51.19 63.98 71.80 89.76
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 9 of 39
… Continued Grosvenor Pirie Master Superannuation Fund Series 2
Super and Account Based Pension PDS, SPDS
15 September 2015
Insurance: 90 day waiting period:
New Rates ($) Old Rates ($)
Male Female Male Male Female Female ANB
non-
smoker smoker non-
smoker smoker
20 1.48 1.44 1.10 1.38 1.84 2.31
25 1.15 1.49 1.10 1.38 1.84 2.31
30 1.04 1.76 1.06 1.32 2.19 2.74
35 1.22 2.11 1.25 1.56 2.65 3.31
40 1.70 2.96 1.76 2.20 3.75 4.69
45 2.70 4.73 2.83 3.54 6.07 7.59
50 4.63 7.66 4.92 6.15 9.94 12.43
55 8.18 11.83 8.81 11.01 15.54 19.43
60 14.35 17.02 15.57 19.46 22.55 28.19
65 5.18 5.03 26.35 32.93 30.62 38.27
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 10 of 39
Local Government Super LGS Accumulation Scheme
LGS Personal Division LGS Account-Based Pension
DIY Option Product Guide 14 September 2015
Investment: In specie transfer introduced: Effective from 14 September 2015, Accumulation Scheme members can transfer their existing investments in the DIY investment option directly to the Account-Based Pension Plan without selling any of their investments. Conditions apply.
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 11 of 39
MyLife MySuper Employer, Personal and MySuper
PDS 01 October 2015
Fees: The investment management fees have been updated as per table below:
New Fees (%) Old Fees (%)
Option Name Total IMF
Performance Fee
Base IMF
Total IMF
Performance Fee
Base IMF
Change (bps)
Aggressive 0.75 0.06 0.69 0.72 0.06 0.66 3
Australian Shares 0.57 0.10 0.47 0.60 0.10 0.50 -3
Balanced 0.72 0.06 0.66 0.67 0.06 0.61 5
Cash 0.07 0.00 0.07 0.07 0.00 0.07 0
Conservative 0.49 0.05 0.44 0.47 0.05 0.42 2
Conservative Balanced 0.64 0.06 0.58 0.61 0.06 0.55 3
Diversified Fixed Interest 0.40 0.06 0.34 0.42 0.06 0.36 -2
FlexiTerm Deposit 0.19 0.00 0.19 0.19 0.00 0.19 0
Moderately Aggressive 0.73 0.06 0.67 0.70 0.06 0.64 3 Moderately Conservative 0.55 0.05 0.50 0.53 0.05 0.48 2
Overseas Shares 0.70 0.03 0.67 0.70 0.03 0.67 0
Property 0.65 0.04 0.61 0.65 0.04 0.61 0
RetirePlus 0.56 0.02 0.54 0.54 0.02 0.52 2
RetireStable 0.47 0.02 0.45 0.50 0.02 0.48 -3
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 12 of 39
Perpetual’s Select Superannuation Fund Perpetual Select Super Plan & Select Pension Plan
PDS, Fees 1 October 2015
Fees:
Perpetual Select Superannuation Plan and Pension Plan’s member fee was updated from $115.44 p.a. ($9.62 per month) to $117.00 p.a. ($9.75 per month)
Perpetual Select Super Plan and Pension Plan provide base fee (administration fee) rebate to members with large account balances. Rebate thresholds were updated for the year ended 30 June 2016:
Base Fee
(Administration Fee) Rebate
Value of Investment
(% pa) New Old
Nil First $262,100 First $258,700
0.50 Next $612,000 Next $603,900 1.15 Over $874,100 Over $862,600
Perpetual Select Super Plan and Pension Plan’s financial adviser commission rates thresholds updated for the year ended 30 June 2016:
Ongoing Adviser
Commission Value of Investment
(% pa) New Old
0.55 First $262,100 First $251,300 0.36 Next $612,000 Next $586,700 0.11 Over $874,100 Over $838,000
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 13 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super Plan
PDS, Fees 1 October 2015
Fees:
Perpetual Select Super Plan updated the investment management fees of the following options as of 1 October 2015:
Option Name Investment Fee* (% pa) Performance Fees (% pa) Total IMF (% pa) Change (bps)
New Old New Old New Old
Conservative 0.49 0.69 0.09 - 0.58 0.69 -11
Diversified 0.65 0.58 0.13 - 0.78 0.58 20 Balanced 0.72 0.91 0.16 - 0.88 0.91 -3 Growth 0.73 1.00 0.18 - 0.91 1.00 -9
High Growth 0.91 1.09 0.23 - 1.14 1.09 5 Geared High Growth 1.32 1.66 0.36 - 1.68 1.66 2
Cash 0.18 0.17 - - 0.18 0.17 1
Fixed Income 0.36 0.37 - - 0.36 0.37 -1 Real Estate 0.65 0.70 - - 0.65 0.70 -5
Australian Shares 0.66 0.88 0.29 - 0.95 0.88 7
Geared Australian Share 1.47 1.66 0.58 0.21 2.05 1.87 18 Limited Share 0.55 0.55 - - 0.55 0.55 0
International Shares 0.70 0.72 0.05 0.07 0.75 0.79 -4
(*Note: The above Investment Fee includes Investment Management Fee, Estimated Alternative Asset Fees and Other Indirect Costs)
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 14 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Pension Plan
PDS, Fees 1 October 2015
Fees:
Perpetual Select Pension Plan updated the investment management fees of the following options as of 1 October 2015:
Option Name Investment Fee* (% pa) Performance Fees (% pa) Total IMF (% pa) Change (bps)
New Old New Old New Old
Conservative 0.46 0.66 0.09 - 0.55 0.66 -11
Diversified 0.62 0.55 0.13 - 0.75 0.55 20 Balanced 0.69 0.88 0.16 - 0.85 0.88 -3 Growth 0.70 0.96 0.18 - 0.88 0.96 -8
High Growth 0.89 1.02 0.23 - 1.12 1.02 10 Cash 0.16 0.13 - - 0.16 0.13 3
Fixed Income 0.33 0.34 - - 0.33 0.34 -1
Real Estate 0.62 0.65 - - 0.62 0.65 -3 Australian Shares 0.64 0.85 0.29 - 0.93 0.85 8
Limited Share 0.53 0.53 - - 0.53 0.53 0
International Shares 0.67 0.70 0.05 0.07 0.72 0.77 -5 (*Note: The above Investment Fee includes Investment Management Fee, Estimated Alternative Asset Fees and Other Indirect Costs)
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 15 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super Plan & Select Pension Plan
PDS & SPDS 1 October 2015
Investment objectives:
Perpetual Select Super Plan updated the CPI target within the investment return objectives of the following options as of 1 October 2015:
Option Name New CPI Target (% above CPI)* Old CPI Target (% above CPI)*
Conservative 1.50 (over rolling 3-year periods) 2.00
Diversified 2.00 (over rolling 3-year periods) 2.50 Balanced 2.50 (over rolling 5-year periods) 3.00 Growth 3.00 (over rolling 5-10 year periods) 3.50
Perpetual Select Pension Plan updated the CPI target within the investment return objectives of the following options as of 1 October 2015:
Option Name New CPI Target (% above CPI)* Old CPI Target (% above CPI)*
Conservative 2.50 (over rolling 3-year periods) 3.00
Diversified 3.00 (over rolling 3-year periods) 3.50 Balanced 3.50 (over rolling 5-year periods) 4.00 Growth 4.00 (over rolling 5-10 year periods) 4.50
(*Note: before fees and after tax)
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 16 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super Plan & MySuper
Investment 1 October 2015
Risk levels:
Perpetual MySuper updated the risk level of the following option as of 1 October 2015:
Option Name New risk level Old risk level
Perpetual MySuper – Balanced Growth
High Medium to High
Perpetual Select Super Plan updated the risk levels of the following options as of 1 October 2015:
Option Name New risk level Old risk level
Conservative Medium Low to Medium
Diversified Medium to High Medium Fixed Income Low to Medium Medium to High Real Estate Very High High
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 17 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super & Select Pension Plan
PDS, SPDS 1 October 2015
Asset Allocation: Conservative option
Growth - Assets New AA (Range) Old AA (Range)
% %
Australian Shares 12.5 (5-20) 12 (0-20)
International Shares 12.5 (5-20) 10 (0-20)
Real Estate 5 (0-10) 8 (0-15)
Growth Alternatives 5 (0-15) 5 (0-15)
Total Growth Assets 35 35
Defensive - Assets New AA (Range) Old AA (Range)
% %
Diversified Credit 22.5 (0-30) -
Income (Misc. Alternatives) 5 (0-10) 10 (0-20)
Cash 15 (5-30) 25 (15-40)
Fixed income 22.5 (10-45) 30 (20-50)
Total Defensive Assets 65 65
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 18 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super & Select Pension Plan
PDS, SPDS 1 October 2015
Asset Allocation: Diversified option
Growth - Assets New AA (Range) Old AA (Range)
% %
Australian Shares 15 (5-25) 35 (25-30)
International Shares 15 (5-25) 10 (0-25)
Real Estate 10 (5-15) 5 (0-20)
Growth Alternatives 10 (0-20) -
Total Growth Assets 50 50
Defensive - Assets New AA (Range) Old AA (Range)
% %
Diversified Credit 17.5 (0-25) -
Income (Misc. Alternatives) 5 (0-10) -
Cash 10 (0-25) 5 (0-25)
Fixed income 17.5 (10-40) 45 (25-50)
Total Defensive Assets 50 50
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 19 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super & Select Pension Plan
PDS, SPDS 1 October 2015
Asset Allocation: Balanced option
Growth - Assets New AA (Range) Old AA (Range)
% %
Australian Shares 23 (10-35) 26 (15-40)
International Shares 22 (10-35) 24 (10-35)
Real Estate 10 (5-15) 10 (0-20)
Growth Alternatives 10 (0-20) 10 (0-20)
Total Growth Assets 65 70
Defensive - Assets New AA (Range) Old AA (Range)
% %
Diversified Credit 12.5 (0-20) -
Income (Misc. Alternatives) 5 (0-10) 5 (0-15)
Cash 5 (0-15) 10 (0-25)
Fixed income 12.5 (0-30) 15 (5-35)
Total Defensive Assets 35 30
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 20 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super & Select Pension Plan
PDS, SPDS 1 October 2015
Asset Allocation: Growth option
Growth - Assets New AA (Range) Old AA (Range)
% %
Australian Shares 30 (15-45) 32 (20-45)
International Shares 30 (15-45) 28 (15-40)
Real Estate 10 (5-15) 10 (0-20)
Growth Alternatives 10 (0-20) 15 (0-25)
Total Growth Assets 80 85
Defensive - Assets New AA (Range) Old AA (Range)
% %
Diversified Credit 6 (0-10) -
Income (Misc. Alternatives) 3 (0-10) -
Cash 5 (0-15) 7 (0-25)
Fixed income 6 (0-25) 8 (0-35)
Total Defensive Assets 20 15
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 21 of 39
…Continued
Perpetual’s Select Superannuation Fund Perpetual Select Super & Select Pension Plan
PDS, SPDS 1 October 2015
Asset Allocation: High Growth option
Growth - Assets New AA (Range) Old AA (Range)
% %
Australian Shares 33 (20-45) 48 (35-45)
International Shares 32 (20-45) 35 (25-40)
Real Estate 10 (5-15) -
Growth Alternatives 20 (0-20) 15 (0-25)
Total Growth Assets 95 98
Defensive - Assets New AA (Range) Old AA (Range)
% %
Cash 5 (0-15) 2 (0-25)
Total Defensive Assets 5 2
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 22 of 39
Prime Super Prime Super, Prime Super Health Division
Prime Super Allocated Income Stream PDS, SPDS
28 September 2015
Investment objectives
Prime Super, Prime Super Health Division, and Prime Super Allocated Income Stream updated the CPI target within the investment return objectives of the following options as of 28 September 2015:
Option Name New CPI Target (% above CPI) Old CPI Target (% above CPI)
Alternatives 3.00 (over the long term) 4.00
Property 3.00 (over the long term) 4.00
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 23 of 39
… Continued
Prime Super Prime Super, Prime Super Health Division
Prime Super Allocated Income Stream PDS, Fees
28 September 2015
Fees:
Prime Super, Prime Super Health Division, and Prime Super Allocated Income Stream updated the investment management fees and performance based fees (both part of the indirect cost ratio) of the following options as of 28 September 2015:
Option Name Investment Fee (% pa) Performance Fees (% pa) Total IMF (% pa) Change (bps)
New Old New Old New Old
MySuper/Balanced 0.40 0.37 0.51 0.23 0.91 0.60 31
Managed Growth 0.50 0.45 0.77 0.34 1.27 0.79 48 Conservative 0.33 0.29 0.49 0.17 0.82 0.46 36 Alternatives 0.95 0.76 2.34 0.80 3.29 1.56 173
Australian Shares 0.31 0.20 0.04 - 0.35 0.20 15 International Shares 0.36 0.39 0.20 0.23 0.56 0.62 -6
Property 1.08 1.24 2.74 0.79 3.82 2.03 179
Fixed Interest 0.36 0.16 - - 0.36 0.16 20 Cash 0.10 0.11 - - 0.10 0.11 -1
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 24 of 39
… Continued
Prime Super Prime Super, Prime Super Health Division
Prime Super Allocated Income Stream PDS, SPDS
28 September 2015
Asset allocation: Balanced (MySuper option) Growth - Assets New AA (Range) % Old AA (Range) %
Australian shares 25 (5-40) 25.5 (5-40)
International Shares 21.5 (5-35) 21 (5-35)
Emerging Markets 6 (0-10) 6 (0-10)
Infrastructure - Growth 5.2 (0-12.5) 6.1 (0-12.5)
Property 10 (0-25) 11.5 (0-25)
Private Equity 0 (0-12.5) 0 (0-12.5)
Total Growth Assets 67.7 70.1
Defensive - Assets New AA (Range) % Old AA (Range) %
Australian Fixed Interest 3 (0-15) 6 (0-15)
Overseas Fixed Interest 6 (0-15) 1 (0-15)
Cash 8.5 (0.5-30) 5.5 (0.5-30)
Credit Opportunities 7 (0-22.5) 8.5 (0-22.5)
Other Alternatives 0 (0-10) 0 (0-10)
Absolute Return Strategies 0 (0-10) -
Infrastructure - Defensive 7.8 (0-12.5) 8.9 (0-12.5)
Total Defensive Assets 32.3 29.9
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 25 of 39
… Continued
Prime Super Prime Super, Prime Super Health Division
Prime Super Allocated Income Stream PDS, SPDS
28 September 2015
Asset allocation: Conservative option Growth - Assets New AA (Range) % Old AA (Range) %
Australian shares 10.5 (0-20) 11.5 (0-20)
International Shares 9.5 (0-20) 8.5 (0-20)
Emerging Markets 0 (0) -
Infrastructure - Growth 4 (0-7.5) 4 (0-7.5)
Property 6 (0-12.5) 6 (0-12.5)
Private Equity 0 (0-7.5) 0 (0-7.5)
Total Growth Assets 30.0 30.0
Defensive - Assets New AA (Range) % Old AA (Range) %
Australian Fixed Interest 12 (5-25) 23 (5-25)
Overseas Fixed Interest 10 (5-25) 7.5 (5-25)
Cash 38 (20-50) 29.5 (20-50)
Credit Opportunities 5 (0-10) 5 (0-10)
Other Alternatives 0 (0-5) 0 (0-5)
Infrastructure - Defensive 5 (0-7.5) 5 (0-7.5)
Total Defensive Assets 70.0 70.0
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 26 of 39
… Continued
Prime Super Prime Super, Prime Super Health Division
Prime Super Allocated Income Stream PDS, SPDS
28 September 2015
Asset allocation: Managed Growth option Growth - Assets New AA (Range) % Old AA (Range) %
Australian shares 32 (10-50) 32.5 (10-50)
International Shares 27.5 (10-50) 27 (10-40)
Emerging Markets 8.5 (0-10) 8.5 (0-10)
Infrastructure - Growth 4.6 (0-12.5) 5.2 (0-12.5)
Property 8 (0-20) 10 (0-20)
Private Equity 0 (0-12.5) 0 (0-12.5)
Total Growth Assets 80.6 83.2
Defensive - Assets New AA (Range) % Old AA (Range) %
Australian Fixed Interest 0 (0-10) 0 (0-10)
Overseas Fixed Interest 5 (0-10) 0 (0-10)
Cash 2 (0-10) 2 (0-10)
Credit Opportunities 6 (0-15) 7 (0-15)
Other Alternatives 0 (0-5) 0 (0-5)
Infrastructure - Defensive 6.4 (0-12.5) 7.8 (0-12.5)
Total Defensive Assets 19.4 16.8
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 27 of 39
Qantas Superannuation Plan Gateway Income Account, Division 9 and Division 14
PDS 1 October 2015
Product: On 1 October 2015, QANTAS Super launched the QANTAS Super Gateway Income Account, with which previous Division 9 and Division 14 products have now been merged. QANTAS Super Gateway Income Account members are offered fortnightly, monthly, quarterly, half yearly and annually pension payment frequencies.
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 28 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account and MySuper PDS
1 October 2015
Investments: On 1 October 2015, QANTAS Super launched the Glidepath investment option, which has been implemented as the Fund’s MySuper investment option. Glidepath offers members a lifecycle investment solution comprising 4 investment stages: Take-Off, Altitude, Cruising and Destination. Investment Fees for Glidepath investment option: Glidepath Investment Option Base fee (%) Performance–based fee (%)
Take-Off stage 0.51 0.00-0.15 Altitude stage 0.48 0.00-0.15 Cruising stage 0.46 0.00-0.14 Destination stage 0.43 0.00-0.14
Strategic Asset Allocation (SAA) for Glidepath investment options: Take-Off Investment Option: Asset Class SAA (%) Range (%)
Equities 70 60-80 Growth Alternatives 20 10-30 Defensive Alternatives 8 0-18 Debt 0 0-10 Cash 2 0-12
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 29 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account and MySuper PDS
1 October 2015
Investments (continued): Altitude Investment Option: Asset Class SAA (%) Range (%)
Equities 55 45-65 Growth Alternatives 15 5-25 Defensive Alternatives 10 0-20 Debt 18 8-28 Cash 2 0-12
Cruising Investment Option: Asset Class SAA (%) Range (%)
Equities 48 38-58 Growth Alternatives 12 2-22 Defensive Alternatives 10 0-20 Debt 25 15-35 Cash 5 0-15
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 30 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account and MySuper PDS
1 October 2015
Investments (continued): Destination Investment Option: Asset Class SAA (%) Range (%)
Equities 40 30-50 Growth Alternatives 10 0-20 Defensive Alternatives 10 0-20 Debt 30 20-40 Cash 10 0-20
Investment objectives for the Glidepath investment options are as follows: Glidepath investment stage Investment objective
Take-Off To achieve a return that exceeds CPI by at least 5% pa over a 10 year period, after
tax and investment fees; and to limit the likelihood of a negative annual return to five in 20 years (or 25% likelihood in each year).
Altitude To achieve a return that exceeds CPI by at least 4% pa over a seven year period, after tax and investment fees; and to limit the likelihood of a negative annual return to four in 20 years (or 20% likelihood in each year).
Cruising To achieve a return that exceeds CPI by at least 3.5% pa over a six year period, after tax and investment fees; and to limit the likelihood of a negative annual return to three in 20 years (or 15% likelihood in each year).
Destination To achieve a return that exceeds CPI by at least 3% pa over a five year period, after tax and investment fees; and to limit the likelihood of a negative annual return to three in 20 years (or 15% likelihood in each year).
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 31 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account PDS
1 October 2015
Fees: Investment Fees updated: Investment options New Base fee (%) Old Base fee (%) Change (bps)
Aggressive 0.51 0.5 1 Growth 0.48 0.46 2 Balanced 0.43 0.42 1 Conservative 0.39 0.35 4 Cash 0.17 0.18 -1
Investment options New Performance fee (%) Old Performance fee (%) Change (bps)
Growth 0.00-0.15 0.00-0.12 3 Balanced 0.00-0.14 0.00-0.11 3 Conservative 0.00-0.13 0.00-0.07 6
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 32 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account PDS
1 October 2015
Investment: Strategic Asset Allocation updated: Aggressive: Asset Class SAA (%) Range (%)
Equities 70 60-80 Growth Alternatives 20 10-30 Defensive Alternatives 8 0-18 Debt 0 0-10 Cash 2 0-12
Growth: Asset Class SAA (%) Range (%)
Equities 55 45-65 Growth Alternatives 15 5-25 Defensive Alternatives 10 0-20 Debt 18 8-28 Cash 2 0-12
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 33 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account PDS
1 October 2015
Investment: Strategic Asset Allocation updated: Balanced: Asset Class SAA (%) Range (%)
Equities 40 30-50 Growth Alternatives 10 0-20 Defensive Alternatives 10 0-20 Debt 30 20-40 Cash 10 0-20
Conservative: Asset Class SAA (%) Range (%)
Equities 25 15-35 Growth Alternatives 5 0-15 Defensive Alternatives 10 0-20 Debt 45 35-55 Cash 15 5-25
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 34 of 39
…Continued Qantas Superannuation Plan
Gateway Super Account, Gateway Income Account PDS
1 October 2015
Investment: Investment objective updated: Investment option New investment objective Old investment objective
Aggressive achieve a return that exceeds CPI by at least
5% pa over a 10 year period, after tax and investment fees
achieve a return that exceeds CPI by at least 4.5% pa over a seven year period, after tax
and investment fees Growth achieve a return that exceeds CPI by at least
4% pa over a seven year period, after tax and investment fees
achieve a return that exceeds CPI by at least 4% pa over a five year period, after tax and
investment fees Balanced achieve a return that exceeds CPI by at least
3% pa over a five year period, after tax and investment fees
achieve a return that exceeds CPI by at least 3.5% pa over a five year period, after tax and
investment fees Conservative achieve a return that exceeds CPI by at least
2% pa over a three year period, after tax and investment fees
achieve a return that exceeds CPI by at least 3% pa over a three year period, after tax and
investment fees Cash achieve a return equal to the Bloomberg AusBond
Bank Bill Index, after tax and investment fees, over a rolling one year period
achieve a return equal to the UBSA Bank Bill Index, after tax and investment expenses, over a rolling one year period
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 35 of 39
Unisuper Accumulation 1, Accumulation 2, MySuper
PDS 01 October 2015
Fees: The flat administration fee was reduced to $96 per annum from previous $115 while the withdrawal fee decreased to $15.80 from previous $16.50 per switch. The indirect cost ratios have been updated as per table below:
Option Name New IMF
(%) Old IMF
(%) Change
bps
Australian Bond 0.23 0.23 0
Australian Equity Income 0.41 0.41 0
Australian Shares 0.64 0.62 2
Balanced 0.52 0.61 -9
Capital Stable 0.33 0.38 -5
Cash 0.20 0.20 0
Conservative Balanced 0.39 0.46 -7
Diversified Credit Income 0.40 0.42 -2
Global Companies in Asia 0.73 0.74 -1 Global Environmental Opportunities 0.23 0.31 -8
Growth 0.58 0.70 -12
High Growth 0.63 0.76 -13
International Shares 0.59 0.71 -12
Listed Property 0.48 0.48 0
Sustainable Balanced 0.32 0.27 5
Sustainable High Growth 0.35 0.28 7
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 36 of 39
… continued Unisuper
FlexiPension PDS
01 October 2015
Fees: The flat administration fee was reduced to $96 per annum from previous $115 while the withdrawal fee decreased to $15.80 from previous $16.50 per switch. The asset based administration fees for Pension members was reduced to 0.16% capped at $1,250 per year from previous 0.30% capped at $2,000 per year. The indirect cost ratios have been updated as per table below:
Option Name New IMF (%) Old IMF (%) Change
(bps)
Australian Bond 0.10 0.10 0
Australian Equity Income 0.28 0.28 0
Australian Shares 0.51 0.49 2
Balanced 0.39 0.48 -9
Capital Stable 0.20 0.25 -5
Cash 0.07 0.07 0
Conservative Balanced 0.26 0.33 -7
Diversified Credit Income 0.27 0.29 -2
Global Companies in Asia 0.60 0.61 -1
Global Environmental Opportunities 0.10 0.18 -8
Growth 0.45 0.57 -12
High Growth 0.50 0.63 -13
International Shares 0.46 0.58 -12
Listed Property 0.35 0.35 0
Sustainable Balanced 0.19 0.14 5
Sustainable High Growth 0.22 0.15 7
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 37 of 39
… continued Unisuper
FlexiPension PDS
01 October 2015
Product Features: Death benefit options for pension members have been expanded to include non-lapsing binding nomination in addition to preferred and lapsing binding nominations.
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 38 of 39
Vision Super Super Saver, MySuper, Personal and Income Stream
PDS, Investment, Fees, Insurance 22 September 2015
Fees: The indirect cost ratios and buy and sell spreads have been updated as shown in the tables below:
Option Name New IMF (%) Old IMF (%) Change bps
Australian Equities 0.41 0.49 -8
Balanced 0.57 0.64 -7
Balanced Growth 0.66 0.73 -7
Cash 0.04 0.03 1
Conservative 0.43 0.47 -4
Diversified Bonds 0.29 0.3 -1
Growth 0.67 0.83 -16
International Equities 0.56 0.63 -7
Just Shares 0.52 0.57 -5
Option Name New Buy
Spread (%) New Sell
Spread (%) Old Buy
Spread (%) Old Sell
Spread (%)
Australian Equities 0.11 0.11 0.14 0.14
Balanced 0.05 0.05 0.13 0.13
Balanced Growth 0.05 0.05 0.15 0.15
Cash 0 0 0 0
Conservative 0.04 0.04 0.09 0.09
Diversified Bonds 0.03 0.03 0.02 0.02
Growth 0.05 0.05 0.16 0.16
International Equities 0.05 0.05 0.13 0.13
Just Shares 0.08 0.08 0.14 0.14
Superratings.com.au [email protected] Level 12, 2 Bulletin Place, Sydney NSW 2000 T 61 2 92 47 4711 F 61 29247 4322 Page 39 of 39
SuperRatings
Get SMART Newsletter November 2015 Edition
Disclaimer: SuperRatings Pty Limited ABN 95 100 192 283 AFSL No. 311880 (SuperRatings) is a superannuation research house with specialist areas of expertise that was originally established in 2002. The information used in compiling this data comes from sources considered reliable. It is not guaranteed to be accurate or complete. Past performance is not a reliable indicator of future performance. The data has been prepared for the purpose of providing “General Advice” (as defined in the Corporations Act 2001 (Cth)) only, without taking into account the objectives, financial situation or particular needs (‘financial circumstances’) of any particular person. Before making any decision about a financial product in the data, the reader must consider whether it is personally appropriate in light of his or her financial circumstances, or should seek independent financial advice on its appropriateness. The reader should obtain and consider the Product Disclosure Statement from each superannuation or pension financial product before making any decision about whether to acquire a financial product. SuperRatings research process relies upon the participation of the superannuation fund or product issuer(s). Should the superannuation fund or product issuer(s) no longer be an active participant in SuperRatings research process, SuperRatings reserves the right to withdraw the rating and document at any time and discontinue future coverage of the superannuation and pension financial product(s). Copyright Disclaimer: Copyright © 2015 SuperRatings Pty Ltd (ABN: 95 100 192 283 AFSL No. 311880 (SuperRatings)). This data is subject to the copyright of SuperRatings. Except for the temporary copy held in a computer's cache and a single permanent copy for your personal reference or other than as permitted under the Copyright Act 1968 (Cth.), no part of this publication may, in any form or by any means (electronic, mechanical, micro-copying, photocopying, recording or otherwise), be reproduced, stored or transmitted without the prior written permission of SuperRatings. This publication may also contain third party supplied material that is subject to copyright. Any such material is the intellectual property of that third party or its content providers. The same restrictions applying above to SuperRatings copyrighted material, applies to such third party content.