ipac iaccess personal super and allocated pension product

Issue number 15, 23 January 2021® Registered trademark of ipac asset management limited ABN 22 003 257 225

Product disclosure statement

ipac iAccess®Personal Super andAllocated Pension

This is a supplementary product disclosure statement (SPDS) for the ipac iAccess® Personal Super and Allocated Pension productdisclosure statement (PDS), issue number 15, dated 23 January 2021, and should be read together with that document.

PDS page reference: 3PDS title refernce: Throughout this PDSInstructions: Add the following definition before fund:

A financial adviserholdinganAustralian Financial Services (AFS) licenceor actingasanauthorisedrepresentative of an AFS licensee.

Financial adviser

PDS page reference: 6PDS title reference: At a glanceInstructions: Replace Fees and costs table with the following:

Fees and costs(iv)(v)

0.09% pa of your account balance held in Pathways and Investor ChoiceTrustee fee

0.45% pa to be applied to the balance of your cash account.Cash account investment fee

Up to 0.856% pa of your portfolio balance - the actual rate varies according to your portfoliobalance and the investment options selected.

Administration fee

The fees associated with purchasing or selling listed securities.Brokerage feesUp to 17 September 2021 the following appliesCharged at 0.11% of the total of each listed security purchase or sale subject to a minimum feeof $34. If you use a panel broker (third-party broker), a settlement fee of $10.25 applies.The following applies from 18 September 2021Charged at 0.11% of the total of each listed security purchase or sale subject to a minimum feeof $18.49. If you use a panel broker (third-party broker), a settlement fee of $10.25 applies.For a list of approved panel brokers and their terms and conditions refer to North Online.

Not applicable for transfers in and $50 for each asset transferred out.In specie transfer fees

These fees and costs apply to the investment options selected by you and your financial adviser.You can find an up-to-date list of the underlying investment option fees and costs reflecting theunderlying investment option's PDS on North Online or in the iAccess InvestmentOptionsdocument. For detailed informationabout theunderlying fees and costs associatedwithanyparticular investment option you should refer to the relevant PDS for that investment option.

Underlying fees and costs forinvestment options

All fees are inclusive of GST, less any input tax credits (RITC) where relevant.(iv)

Refer to the fees and costs section in the PDS for more information.(v)

Issue date: 17 September 2021

ipac iAccess®Personal Super and Allocated PensionSupplementary product disclosure statement

® Registered trademark of ipac asset management limited ABN 22 003 257 225.This document is issued by N.M. Superannuation Proprietary Limited (ABN 31 008 428 322, AFS Licence No. 234654), the Trustee of the Wealth PersonalSuperannuation and Pension Fund (ABN 92 381 911 598)

PDS page reference: 7PDS title reference: At a glanceInstructions: Replace footnote (ii)with the following:

Amaximum contribution, rollover or transfer of $10 millionapplies to iAccess Personal Super and a maximum rollover ortransfer of $10 million applies to iAccess Allocated Pension. Atransfer balance cap of $1.7 million in 2021/22 (indexed in linewith CPI in $100,000 increments) applies for rollovers to iAccessAllocated Pension. Please speak to your financial adviser tounderstand how it may impact your income in retirement.

(ii)

PDS page reference: 12PDS title reference: Commencing a pensionInstructions: Replace the 1st paragraph ofthe Commencing a pension section with the following:

A pension can be commenced with one or multiple rollovers;however, each rollover must be received prior to the pensioncommencing. It is not possible to contribute a further rolloveror anyother amount toapension thathasalready commenced.Youmay however commence additional pensionswith eligiblerollovers. There is a transfer balance cap of $1.7 million in2021/2022 which may be subject to indexation in followingfinancial years. Please speak to your financial adviser tounderstand how it may impact you.

PDS page reference: 15PDS title reference: Earnings on your cash accountInstructions:Add the following sentence at the end of thesection:

Please refer to North Online for the Cash account performancereport.

PDS page reference: 19PDS title reference: Asset transfers (in specie)Instructions: Replace the In specie in section with thefollowing:

In specie in

Some assets you hold outside of your iAccess Personal Superor Alocated Pension account may be transferred in specie intoyour account if certain conditions are met, including:

– the assets must be available in the iAccess investmentoptions document, including listed securities.

– the other holder (fund manager or platform) allows inspecie transfers out.

There is no in specie transfer fee for transferring assets intoyour account. Stamp dutymay apply. For more information onthe in specie out transfer fee, please refer to the fees and othercosts section of this PDS.

2

PDS page reference: 24PDS title reference: Fees and costsInstructions: Replace the iAccess Personal Super and Allocated Pension fee table with the following:

iAccess Personal Super and Allocated Pension

How and when paidAmountType of fee

The cash account investment fee is deducted frominterest paid from the underlying investments on

0.45% pa of the balance of your cash account.Investment fee(i)

a monthly basis prior to the declaration of thecrediting rate for the cash account.

Theadministration fee is calculatedbymultiplyingthe proportion of your account balance held inPathways and Investor Choice by the

InvestorChoice(% pa)

Pathways(% pa)

StrategicServiceand cashaccount

PortfolioBalance

Administration fee(i)(ii)

administration fee rate applicable to your totalopening portfolio value on the day of the feedeductionand is deducted fromyour cashaccounton your monthly account anniversary.

0.8560.716NilFirst $100,000

0.6310.300NilNext $150,000up to $250,000

0.405NilNilNext $750,000up to$1,000,000

0.225NilNilOver$1,000,000

The trustee fee is calculatedanddeductedmonthlyon your account balance held in Pathways andInvestor Choice on themonthly anniversary of the

Plus 0.09% pa of your account balance held inPathways and Investor Choice.

account commencementdate. The trustee feedoesnot apply to amounts held in the cash account orinvested in Strategic Service strategies.

Not applicable.Nil. However, underlying buy/sell costs(iii) mayapply.

Buy-sell spread

Not applicable.Nil. However, underlying buy/sell costs (iii) mayapply.

Switching fee

Not applicable.NilAdvice fees relating toall members investingin a particularinvestment option

Brokerage fees are deducted from your cashaccount at the time the trade is settled or, if youuse apanel broker, theday your panel broker sendsus your trade information.

Up to 17 September 2021 the following appliesChargedat 0.11%of the total of each listed securitypurchase or sale subject to aminimum fee of $34.If you use a panel broker (third-party broker), asettlement fee of $10.25 applies.The following applies from 18 September 2021Chargedat 0.11%of the total of each listed securitypurchase or sale subject to a minimum fee of

Other fees and costs(iv)

$18.49. If you use a panel broker (third-partybroker), a settlement fee of $10.25 applies.

In specie transfer fees are deducted fromyour cashaccount at the time of the transfer.

Not applicable for in specie transfers in and $50for each asset for in specie transfers out.Stamp duty may apply.

Deducted from your cash account, in accordancewith the terms of the insurance policy.

Plus insurance fees(v) will apply if you haveinsurance cover.

Deducted from your cash account as agreedbetween you and your financial adviser.

Plusmember advice fees as agreed between youand your financial adviser.

The telegraphic transfer fee is deducted from yourcash account at the time of the withdrawal.

Plus $9 per withdrawal if you have requested atelegraphic transfer.

3


Not applicable.Nil. However, underlyingmanagement costs (iii)

may apply.Indirect cost ratio(i)

(i) If your account balance for a product offered by the superannuation entity is less than $6,000 at 30 June each year, or at the time you exit your account, the totalcombined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% (after the benefit of any tax deduction passed ontoyou) of the account balance. Any amount charged in excess of that cap will be refunded.

(ii) Refer to administration fees section of this PDS for further information.(iii) Refer to underlying fees and costs of investment options section of this PDS for further information.(iv) Refer to the other fees and costs section of this PDS for further information on other fees and costs that may be charged.(v) Refer to your insurer's Insurance PDS for further information on insurance fees (premiums) and other charges.

PDS page reference: 25PDS title reference: Additional explanation of fees and costsInstructions: Replace the Administration fees section with the following:

Administration fee

The administration fee covers all costs and expenses incurred in the administration of your iAccess Personal Super and AllocatedPensionaccount, excludingall investment costs. Theadministration feedoesnot apply to Strategic Service strategies or anyamountheld in the cash account.

These fees are generally not negotiable by you. From time to time, these fees may be negotiated by your financial adviser. As aresult, we may vary your fees by rebating part of the administration fee charged by us, these rebates will be paid to your cashaccount once or on a monthly basis, depending on the nature of the rebate.

Alternatively,wemaychoose toprovide youwitha reducedadministration fee rateapplicable to your investments. Theadministrationfee deducted monthly will be determined based on these rates.

Wemay cease these arrangements at our discretion, in the event any such arrangements are ceased, your fees will revert to therates disclosed in the fees and other costs section of the PDS.

PDS page reference: 25PDS Title reference: Other fees and costsInstructions: Replace the Brokerage fees section with the following:

When purchasing or selling listed securities, brokerage fees will apply. These fees include GST and are an additional cost to you.

Up to 17 September 2021 standard brokerage fees of 0.11% of the total of each listed security purchase or sale apply, subject to aminimum fee of $34 per trade. From 18 September 2021 standard brokerage fees of 0.11% of the total of each listed securitypurchase or sale apply, subject to a minimum fee of $18.49 per trade. These fees will be will be directly debited from your cashaccount at the time the trade is settled.

If you use a panel broker, the brokerage fee is negotiated between you and the panel broker, and a settlement fee of $10.25 willapply in addition to any brokerage fees. The settlement fee will be deducted from your cash account on the day the panel brokersends us your trade information.

Please ask your financial adviser for details on current brokerage rates.

PDS page reference: 25PDS Title reference: Other fees and costsInstructions: Replace the In specie transfer fee section with the following:

In specie transfer fee

There is no in specie transfer fee for transferring assets into your account. When transferring assets out of your account, in specietransfer fees will apply and are an additional cost to you.

For in specie out, a transfer fee of $50 per asset applies to each managed fund or listed security you request to transfer out. Thisfee will be deducted from your cash account at the time the units being transferred are removed from your account. If there areinsufficient funds in your cash account some of the assets may be sold to fund these costs.

4

PDS page reference: 27PDS title reference: Additional explanation of fees andcostsInstructions: Replace the first paragraph below theMember advice fee limit table sectionwith the following:

An advice fee arrangement is in place for a maximum of 12months fromyour agreed fee start date. Your first paymentwillbe deducted onemonth after the fee start date. Each year, youwill need to consent to a new fee arrangement with yourfinancial adviser for a fee to continue to be charged.

PDS page reference: 37PDS title reference: Further information youneed to knowInstructions: Remove the Payments of benefits to aneligible rollover fund section.

Contact us

1800 667 841phone

northonline.com.auweb

[email protected]

North Service CentreGPO Box 2915MELBOURNE VIC 3001

mail

2365

407

/21

Important information

iAccess Personal Super and Allocated Pension are plans offeredas a part of the Wealth Personal Superannuation and PensionFund (the Fund) ABN 92 381 911 598. The trustee of the Fundand the issuer of this product disclosure statement (PDS) is N.M.SuperannuationProprietary Limited (NMSuper) ABN31008428322AFSL234654. iAccessPersonal SuperannuationandAllocatedPension is distributed by ipac asset management limited (ipac)ABN 22 003 257 225 AFSL 234655. NM Super and ipac aremembers of the AMP group of companies.

The trustee is a RSE Licenseeunder the Superannuation Industry(Supervision)Act 1993 (SIS),whichmeans thatwehave satisfiedlicensing conditions set by the Australian Prudential RegulationAuthority (APRA). The trustee is responsible for the monitoringand management of the Fund for the benefit of all members inaccordance with the governing rules of the Fund and relevantlegislation.

How your PDS works

Information regarding iAccessPersonal Super (USINMM0006AU)and iAccess Allocated Pension (USI NMM0005AU) is containedin the PDS, which consists of other documents being theadditional information booklet and the iAccess investmentoptionsdocument. This document shouldbe read in conjunctionwith the other documents.

Optional insurance cover is available to members of iAccessPersonal Super and Allocated Pension from a number ofinsurers. Please refer to each insurer's PDS formore informationat northonline.com.au/iaccess.

iAccess Personal Super does not offer an authorised MySuperproduct.

The information in this document is of a general nature only andis not based on your personal objectives, financial situation orneeds. You should consider whether the information in thisdocument is appropriate for you in accordance with yourobjectives, financial situation and needs. You should read thePDSand theother documentsbeforemakinganydecisionaboutwhether to acquire or continue to hold your account.

Changes to the PDS

Information in the PDS and the other documentsmay changefrom time to time. Wemay have updated information which isnot materially adverse by issuing a PDS Update. You can obtaina PDS Update free of charge by:

– visiting northonline.com.au/iaccess– contacting theNorth ServiceCentre to request apaper copy

of the PDS Update at [email protected] or1800 667 841

– asking your financial adviser.

NM Super and other providers

NMSuper is the trustee of theWealth Personal Superannuationand Pension Fund and is referred to asNM Super, trustee,we orus in this PDS.

No other company in the AMP group of companies (AMP group)or any of the investment managers of the investment options:

– is responsible for any statements or representationsmadein this PDS

– guarantees the performance of NM Super’s obligations tomembers nor assumes any liability to members inconnection with iAccess Personal Super and AllocatedPension.

NM Super nor any other company in the AMP group, nor any ofthe investmentmanagers of the investmentoptions, guaranteesthe performance of iAccess Personal Super and AllocatedPensionor the investmentoptionsor anyparticular rateof return.The repayment of capital is not guaranteed, unless expresslystated.

Except as expressly disclosed in thePDSor the iAccess investmentoptions document, investments in the investment options arenot deposits or liabilities of NM Super, AMP Bank Limited (AMPBank) ABN 15 081 596 009 AFSL 234517, any other member ofthe AMP group or any of the investment managers. NM Superis not a bank. AMP Bank does not stand behind NM Super. Theinvestment options are subject to investment risks, which couldinclude delays in repayment and loss of income and capitalinvested.

AMP companies receive fees and charges in relation to iAccessPersonal Super and Allocated Pension outlined in the PDS. AMPemployees and directors receive salaries and benefits from theAMP group.

This offer is available only to persons receiving (includingelectronically) the PDS within Australia. We cannot accept cashor applications signedandmailed fromoutsideAustralia. Moniesmust always be paid in Australian dollars. Wemay accept orrefuse (without reason) any application.

We reserve the right to change the features of iAccess PersonalSuper and Allocated Pension with, in case of an increase in fees,at least 30 days notice, otherwise notice ofmaterial changeswillbe provided before or as soon as practicable after the changeoccurs.

This document is issued by N.M. Superannuation Proprietary Limited (ABN 31 008 428 322, AFS Licence No. 234654), the Trustee of theWealth Personal Superannuationand Pension Fund (ABN 92 381 911 598)

2

Throughout this PDSTo be read as:References to:

AMP Limited ABN 49 079 354 519 and itssubsidiaries, including AMP Life Limited ABN 84079 300 379 AFSL 233671, NMMT Limited ABN

AMP

42 058 835 573 AFSL 234653 and NMSuperannuation Proprietary LimitedABN31008428 322 AFSL 234654

A12-monthperiod commencingon theday youraccount is opened and each corresponding12-month period afterwards

Anniversary year

A day other than a Saturday, Sunday orMelbourne public holiday

Business day

Wealth Personal Superannuation and PensionFund ABN 92 381 911 598

Fund

A list of investment options available withiAccess Personal Super and Allocated Pension

iAccess investmentoptions

iAccess Personal Superannuation and AllocatedPension

iAccess, iAccessPersonal SuperandAllocated Pension,iAccess PersonalSuper, iAccessAllocated Pension

The insurance Product Disclosure Statement(PDS) applicable to your nominated insurer

Insurance PDS

ipac assetmanagement limited ABN22 003 257225 AFSL 234655 is the distributor andresponsible entity for Pathways and StrategicService

ipac

A notional portfolio of assets managed inaccordancewithaparticular investment strategy,as described in theMyNorthManagedPortfoliosPDS

Managedportfolio

A member of iAccess Personal Superannuationand Allocated Pension including any person youauthorise to act on your behalf

Member or you

The product disclosure statement for MyNorthManaged Portfolios ARSN 624 544 136, aregisteredmanaged investmentschemeofwhich

MyNorthManagedPortfolios PDS

NMMT Limited is the responsible entity, andwhich is an accessible investment availablethrough iAccess Personal Super and AllocatedPension. The MyNorth Managed Portfolios PDSis issued by NMMT Limited.

Non-Commutable Allocated PensionNCAP

NMMTLimitedABN42058835573AFSL234653is a service provider to the trustee ofadministration, platform, investment andmember cash custodial services

NMMT

northonline.com.auNorth, NorthOnline

ipac PathwaysPathways

Your interest and asset holdings in MyNorthManaged Portfolios that ismanaged in linewitha managed portfolio you have selected. A

Scheme Portfolio

To be read as:References to:

separate interest and Scheme Portfolio is held inrespect of eachmanaged portfolio in relation towhich you choose to invest.

ipac Strategic Investment ServiceStrategic Service

N.M. Superannuation Proprietary Limited ABN31 008 428 322 AFSL 234654

Trustee, our, we orus

Read all relevant documents

Visit northonline.com.au/iaccess to download a copy of thefollowing documents. Alternatively, a printed copy can beobtained free of charge by contacting the North Service Centreat [email protected] or on 1800 667 841.

iAccess Personal Superand Allocated Pension – Additionalinformation booklet

Thisadditional informationbooklet summarises the key featuresand benefits of iAccess Personal Super and Allocated Pension.

Further information on the topics in this PDS is provided in theadditional information booklet.

MyNorth Managed Portfolios PDS

Provides specific information regarding MyNorth ManagedPortfolios and the available managed portfolios.

iAccess investment options

Provides a list of investment options available through iAccessPersonal Super and Allocated Pension.

You can obtain the underlying investment options' PDS for freeby:

– visiting North Online– contacting the North Service Centre on 1800 667 841 or– visiting the fund manager's website.

Also consider

Insurance PDSExplains the insurance benefits available offered by each insurer,including:

– Life insurance– Total and permanent disability (TPD) insurance– Income insurance.

3

Contents

5At a glance

8Welcome to iAccess Personal Super and Allocated Pension

10iAccess Personal Super

12iAccess Allocated Pension

14The cash account

16Investing in iAccess Personal Super and Allocated Pension

21What risks apply to investing?

23Fees and other costs

32Insurance available through iAccess Personal Super and Allocated Pension

33How your benefit will be paid upon death

34Further information you need to know

4

At a glance

Minimum transactions

Personal Super - $10,000 for Pathways and Strategic Service(ii)$20,000 for Investor Choice(ii)Minimum initial contribution,rollover or transfer to commenceyour account(i) Allocated Pension - $20,000(ii)

Nominimum(ii)Minimum ad hoc contribution,rollover or transfer(i)

$10 per fortnight, month, quarter, half-year or yearMinimum regular savings plan

$5,000Minimum account balance

NominimumMinimum ad hoc withdrawal

$100(iii)Minimum switch

$100(iii)Minimum rebalance

Automatic Buy: $500(iii)Minimum cash account sweep

Automatic Sell: $100(iii)

Product features

Personal, spouse and other third party contributions can be made to your super account via direct debit fromyour bank account fortnightly, monthly, quarterly, half-yearly or yearly.

Regular savings plan

A flexibleworking cash account that allows you to specify theminimumand target amounts to be held in yourcash account.

Cash account

Income distributions, dividends and interest for each investment option where applicable will be credited toyour cash account. Exceptions may apply. A dividend reinvestment plan (where available) may be nominatedfor listed securities. Refer to incomewithin the investing in iAccess Personal Super andAllocatedPension sectionfor more details.

Income

You can switch all or part of your portfolio between the full range of investment options available at any time.There is no limit on the number of switches you can make each year.

Investment switching

You can arrange automatic buying and selling of investment options via your cash account. You can also specifyinstructions to rebalance your investments.

Investment instructions

To assist with your estate planning you may nominate beneficiaries through a:Payment of benefits on death

– binding death benefit nomination– non-lapsing binding death benefit nomination– non-binding death benefit nomination– reversionary pension.Your financial adviser can help you to choose the best method for your particular circumstances.

Personal, spouse and other third party contributions can be made to your super account using direct debit viaNorth Online. You can also use an EFT or BPAY facility provided by your bank.

BPAY®, EFT and ad hoc direct debit

Allows you to invest a set dollar amount into themarket at regular intervals. Available only on iAccess PersonalSuper.

Dollar cost averaging

Wemay advance payment of partial withdrawals up to 80% of your account value without awaiting saleproceeds from the investment options. Restrictions may apply.

Fast payment

You may elect to split your super contributions with your spouse.Contribution splitting

® Registered to BPAY Pty Ltd ABN 69 079 137 518

5

Investment options

iAccess offers you three main streams of investment options:Investment options

– Pathways – a range of diversified multi-manager investment options offering access to specialist fundmanagers in each asset class

– Strategic Service (vii) – a range of managed fundsmanaged by ipac using amulti-manager approach, and– Investor Choice - an extensive list of managed funds, managed portfolios, listed securities and term

deposits.

Refer to the iAccess Investment Options document for full details, which can be obtained byvisiting northonline.com.au/iaccess or you can obtain a free copy by contacting your financial adviser or theNorth Service Centre on 1800 667 841.

Allocated PensioniAccess Personal Super and NCAPInsurance

Life insuranceLife insuranceAvailable cover

Life and Total and permanent disability insurance

Income insurance

Note: The insurance options are issued bymultiple insurance providers via a separate PDS specific to that product. Your nominated insurer's currentPDS should be considered when deciding whether to acquire that product. Each provider's PDS is available from your financialadviser, northonline.com.au/iaccess or by contacting the North Service Centre on 1800 667 841.

Fees and costs(iv)(v)

0.09% pa of your account balance held in Pathways and Investor ChoiceTrustee fee

0.45% pa to be applied to the balance of your cash account.Cash account investment fee

Up to 0.856% pa of your portfolio balance—the actual rate varies according to your portfolio balance and theinvestment options selected.

Administration fee

The fees associated with purchasing or selling listed securities. Charged at 0.11% of the total of each listedsecurity purchase or sale subject to a minimum fee of $34.

Brokerage fees

If you use a panel broker (third party broker) a settlement fee of $10.25 applies in addition to any brokeragefees. For a list of approved panel brokers and their terms and conditions, refer to North Online.

$25.63 per listed security, ETF, ETC or AREIT for transfers in; andIn specie transfer fees

$100 for each asset transferred out.

These fees and costs apply to the investment options selected by you and your financial adviser. You can findan up-to-date list of the underlying investment option fees and costs reflecting the underlying investmentoption's PDS on North Online or in the iAccess Investment Options document. For detailed information aboutthe underlying fees and costs associatedwith any particular investment option you should refer to the relevantPDS for that investment option.

Underlying fees and costs forinvestment options

6

Member advice fees (iv)(vi)

Fees you can agree to pay your financial adviser for financial advice

Up to $10,250, over a 5-year rolling period (from23 January 2021), subject to the total balances

A fee paid from your account to your financialadviser for initial financial advice. This may

Member advice fee – initial

across all your MyNorth, North, Summit,include initial, plan preparation and research,and advice implementation.

Generations and iAccess Super and Pensionaccounts.A fee paid from your account to your financial

adviser for additional financial advice.Member advice fee – ad hoc

Up to 2.05%pa subject to your account balance.An ongoing fee paid from your account to yourfinancial adviser for ongoing financial advice.

Member advice fee – ongoing

Reporting

All communications from us will be sent to you via North Online and will be available from your onlineStatements & correspondence section or communicated via 'News & announcements'.

Online access

The Trustee annual report for the Fund with information current as at 30 June of that year will be availableonline at northonline.com.au/iaccess from 31 December.

Trustee annual report

Pension members can only make rollovers or transfers into their account.(i)A maximum contribution, rollover or transfer of $10 million applies to iAccess Personal Super and a maximum rollover or transfer of $10 million applies to iAccessAllocated Pension. A transfer balance cap of $1.6 million (indexed in line with CPI in $100,000 increments) applies for rollovers to iAccess Allocated Pension. Pleasespeak to your financial adviser to understand how it may impact your income in retirement.

(ii)

These transactions are subject to a trade minimum of $650 per listed security held.(iii)All fees are inclusive of GST, less any reduced input tax credits (RITC) where relevant.(iv)Refer to the fees and other costs section for more information.(v)Refer tomember advice feeswithin the fees and other costs section of this PDS for more information.(vi)Strategic Service is only available for existing investors of those funds.(vii)

7

Welcome to iAccess Personal Super and Allocated Pension

iAccess Personal Super

iAccess Personal Super helps you to save and grow your superso that you can retire right. It offers a diverse rangeof investmentoptions, favourable tax treatmenton contributions andearnings,fee aggregation, a regular savings plan facility and much more.

When you’re ready to retire, you can transfer your savings toa iAccess Allocated Pension account.

Superannuation is a long-term investment designed forretirement.

iAccess Allocated Pension

iAccess Allocated Pension turns your super savings into regularpension payments. You can invest in an allocated pension or aNCAP, depending on your circumstances. It offers you a taxeffective way to spend your super, with tax offsets and forallocated pensions, tax-free earnings.

Why invest in super, an allocated pension or anNCAP?

Super provides tax advantages when compared to some otherforms of saving for your retirement. An allocated pension is atax-effective way of drawing an income in your retirement andan NCAPmay assist you to transition fromwork to retirementin a tax-effective manner.

Bringing your strategy to life

Together with your financial adviser, you'll agree on a financialstrategy to achieve your retirement goals. iAccess Personal Superand Allocated Pension seeks to bring that strategy to life byproviding a single access point for a range of investment optionsacross major asset classes.

Your account on North Online

Your iAccess account is operated through North Onlineat northonline.com.au.

North Online allows you and your financial adviser to review,transact and report on your iAccess account.

You can log onto North Online at any time to see how yourinvestments are performing and make a wide range oftransactions.

All communications fromuswill be sent to you viaNorthOnlineand available to view in the Statements & Correspondencesection, or communicated via News & announcements.

iAccess Personal Super and Allocated Pension is an onlineproduct, so it's important that you have internet access to usethe services offered and to receive information about youraccounts.

You will require internet access to use and maintain youraccount.

Once you become a member of iAccess Personal Super andAllocated Pension, you will receive a welcome letter with youruser ID for North Online. You'll also receive a separate letter oremail with your temporary password. The first time you log into North Online you will be required to accept the terms andconditions and change your password.

8

northonline.com.au

Transacting on your account

Financial adviser access

Transactions on your iAccess Personal Super and AllocatedPension account are completed by your financial adviser usingNorth Online.

Your financial adviser shouldobtain your authorisation (consent)for each transaction they perform on your account. Thisauthorisation will be obtained by your financial adviser duringthe advice process and is retained by them as evidence that youhave authorised each transaction they perform. We'll act uponany instruction (except changes tobankaccountdetails) receivedfrom your financial adviser in relation to your account.

Changes to bank account details are excluded for securitypurposes.

Your financial adviser can use North Online to:

– open new accounts on your behalf– add additional or new investments– switch investments– complete transfers– submit withdrawal requests– trade shares– produceadhoc reports tomonitor theperformanceof your

account, and– view communications and statements online.

Any transactionsmadeon your accountwill be confirmed to youthrough North Online.

In certain circumstances you may enter into an arrangementwith your financial adviser allowing them to transact on youraccount on your behalf without the need for each transactionto be authorised by you. This is known as a ManagedDiscretionary Account (MDA). To offer an MDA arrangementyour financial advisermust be appropriately licensed to operatean MDA. For further information about how to set up an MDA,please contact your financial adviser.

Member access

You're able to log on toNorthOnline at any time to see howyourinvestments are performing.

You can use North Online to:

– view your account details and transactions– view your communications via the Statements &

correspondence section– monitor the performance of your investments– check the progress of your transactions– update your personal details (including banking details).

North Online also provides the option for your financial adviserto change your North Online access to allow you to complete abroader range of transactions. You should discuss this optionwith your financial adviser.

My AMP

In addition to accessing your account on North Online, you canview your AMP consolidated details at My AMP.

My AMP gives you fast, easy and secure online access to yourbanking, super, insurance and investments. Keep an eye on youraccount and review your AMP investments whenever you wantand generate a Portfolio Report from the commencement ofyour iAccess Personal Super and Allocated Pension account. Youcan also include any external accounts and assets for reportingpurposes.

Register for your online account at amp.com.au.

The AMP app

It’s the first app in Australia where you can access your banking,insurance, investments and super accounts – all fromone place.

The AMPapphelps you get things done, like accessing your AMPBank accounts to make payments or getting help to startconsolidating your super.

Get started in three easy steps:

1. Have your MyAMP (super/insurance/investments) logindetails handy.

2. Download theapp fromtheAppleAppStoreorGoogle Play.3. Follow the set-up instructions and you’re good to go.

Available from the Apple1 App Store and Google Play2.

Keeping track of your investments

Annual statement

Every year on or around your account anniversary we'll send youan annual statement via the online Statements &correspondence section on North Online, which will include:

– your account balance on your account anniversary– a statement of contributions to your account, and– an account performance summary.

Trustee annual report

The Trustee annual report for the Fundwith information currentas at 30 June of that year will be available onlineat northonline.com.au/iaccess from 31 December. You can alsorequest a printed copy by contacting the North Service Centreon 1800 667 841.

Client review report

You can run and download a client review report (acomprehensive summary report on your account) from NorthOnline at any time.

1 Apple is a trademark of Apple Inc.2 Google Play is a trademark of Google Inc.

9

amp.com.au

iAccess Personal Super

Contributing to iAccess Personal Super

iAccess Personal Super accepts all contributions allowed bylegislation, as well as most rollovers and transfers, as long astransaction minimums are met.

You canmakepersonal, spouseor other third party contributionsthrough the following methods:

– direct debit– EFT– BPAY, and– cheque.

For further informationon the typesof contributions you canmake to your super account and how to use EFT, BPAY orcheques to make contributions, please refer to section 1 ofthe additional information booklet.

Rollovers from other superannuation providers

You can roll over funds from other superannuation providers byrequesting this through:

– us electronically, through North Online– theother superannuationprovider by completing a rollover

form, or– the Australian Taxation Office (ATO) on their website.

If you transfer yourwhole balance, any insurance coverwill ceaseon the date of transfer.

Starting a regular savings plan

A regular savings plan through direct debit is an easy andconvenient way to build your retirement savings.

You can select from a fortnightly, monthly, quarterly, half-yearlyor yearly frequency through direct debit for your personal orspouse contribution, and theminimumamountper contributionfor all frequencies is $10.

You will need to nominate the date on which amounts arewithdrawn from your nominated bank account, between the1st and the 28th of the month or the last day of the month.Regular savings plan contributions will generally be receiptedinto your cash account that day.

If a regular savings plan payment falls on a weekend orMelbourne public holiday, we will initiate the payment on thefollowing business day.

Regular savingsplan contributionswill continueuntilwe receiveany changes or a cancellation of the facility. You can makechanges or cancel your regular savings planat any time viaNorthOnline.

Automatically increasing your regular savings plan

Over time, inflation reduces the real value of your investments.

To help you keeppacewith inflation you can choose to have yourregular savings plan amount automatically increasedor indexedeach year.

You can choose between:

– a fixed percentage (up to 7% pa)—applied on your accountanniversary each year, or

– Consumer Price Index (CPI)—applied on your accountanniversary each year using the most recently publishedCPI figure.

You may change or cancel the option at any time via NorthOnline.

Super contribution splitting

Super contribution splitting allows you to split certaincontributions made to your super account with your spouse,enabling your spouse to increase their own super savings fortheir retirement. The maximum amount of contributions thatcanbe split is the lesser of 85%of your concessional contributions(which includes superannuation guarantee and salary sacrificecontributions) and your concessional contributions cap.

For further informationon contribution splitting, please referto section 1 of the additional information booklet.

Withdrawals

Withdrawals (partial and full) can be made at any time subjectto relevant superannuation legislation (where applicable) andtrust deed requirements. You can make a partial withdrawalfrom your iAccess Personal Super account (subject to trademinimums), provided youmaintain an account value of at least$5,000.

You can select which individual investment options you wouldlike to sell down fromor alternatively you can select to sell downyour investment options according to your automatic sellinstructions. Where you have not provided us with automaticsell instructions we will sell your investments proportionately.

Your benefits are generally paid as a lump sum, but can also be:

– rolled over in full or in part to iAccess Allocated Pension (ifyou have met a condition of release), or

– rolled over to another complying superannuation provider.

If youmakea lump-sumwithdrawal, youmaybe subject to lump-sum tax.

For further information on taxation of withdrawals, pleaserefer to section 6 of the additional information booklet.

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Tomake awithdrawal, your financial adviserwill need to submityour withdrawal request on North Online, after obtaining yourauthorisation.

Withdrawals from your account are normally processed within30 days of us receiving all of the necessary information. Someinvestments have redemption restrictions imposed by theunderlying fund manager that prevent us from paying the fullbenefit within this period.

However, time frames may vary depending on the time takenby fund managers to complete processing of sale transactions.A withdrawal may also be delayed if an existing buy or sellinstruction has not been confirmed. Refer to the underlyinginvestment options' PDS for further information relating towithdrawal conditions associated with the underlyinginvestment options.

If you nominate to sell part of your holdings in any managedinvestment fund or listed security (via a partial withdrawal oraspart of a sell instruction) and thewithdrawal amount exceeds90% of the current asset value, the sale will be converted froma dollar-based to a unit-based sale using the latest market unitprice held at the time of sale. This may result in a differentwithdrawal amount fromyour original request due to variationsin unit prices.Withdrawal periods vary between fundmanagersand can be found in the underlying investment options' PDS.

For example, if you held 1,000 units in an investment optionvalued at $2 per unit (1,000 units x $2 = $2,000) and younominated to sell $1,900, we would automatically convert thesale to a unit based sale of 950 units (950 units x $2 = $1,900).

For further information on conditions of release andwithdrawing from super, please refer to section 2 of theadditional information booklet.

Fast payment

The fast payment of funds is available for partial withdrawalsonly, up to a maximum of 80% of your account balance. Wereserve the right to reduce the percentage. We will aim toautomatically advance the payment of your funds withoutawaiting sale proceeds from underlying investments.

If you are requesting a full cash withdrawal, you can request fora Fast Track withdrawal by contacting us. This will enable youto receive 80% of your funds within two business days of yourrequest being completed (including all requirements) by theNorth ServiceCentre. The remainder of the fundswill be releasedafter all other assets have been sold and the proceeds have beenconfirmed to cash.

During the period of either of the scenarios explained above,your cash account balancemay fall below zero. Refer tonegativecash account balancewithin the the cash account sectionof thisPDS for more information on the effect of your cash accountbalance becoming negative.

Telegraphic transfer

A Telegraphic Transfer (TT) is an electronic transfer to anominated bank accountwhere the fundsmay be cleared in therecipient’s bank accountwithin twohours of the payment beingmade. All overseas bank transfers are completed by TT. A $9charge applies per TT. The receiving bank may also charge anadditional fee for this facility.

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iAccess Allocated Pension

iAccess offers two types of pensions, an allocated pension anda non-commutable allocated pension (NCAP).

Allocated pensionAn allocated pension can be purchased with unrestrictednon-preserved superannuation benefits or benefits for whichyou meet a full condition of release. An allocated pension paysyou a regular income stream to help you meet your financialneeds in retirement.Dependingonyour individual circumstances,allocated pensions allow you to enjoy themany tax advantagesof superannuation.

It also includes an innovative retirement solution that can helpyou maximise what you can spend in retirement.

Non-commutable allocated pension (NCAP)AnNCAPallows you to commenceapensionandaccess a regularincome streamwhile seeking to transition into retirement.

It provides a flexible way for you to access your superannuationbenefits from preservation age, if you have not met a fullconditionof release. If you choose anNCAPyouarenot ‘locked-in’to your choice should your circumstances change as you canrollover thepensionback intoyour superannuationaccumulationaccount.

A non-commutable allocated pension can only be purchasedwith preserved superannuation benefits provided you havereached preservation age (refer to the table below):

Preservation ageDate of birth

55Before 1 July 1960

56From 1 July 1960 to 30 June 1961




60On 1 July 1964 or after

Commencing a pension

A pension can be commenced with one or multiple rollovers;however, each rollover must be received prior to the pensioncommencing. It is not possible to contribute a further rolloveror any other amount to a pension that has already commenced.You may however commence additional pensions with eligiblerollovers. There is a transfer balance cap of $1.6 million in2019/20 which may be subject to indexation in followingfinancial years. Please speak to your financial adviser tounderstand how it may impact you.

If youare commencing yourpensionwithmore thanone rollover,your financial adviserwill need to indicate thiswhen completingyour applicationonline. Each rolloverwe receivewill bedepositedin an iAccess Personal Super account and invested in accordancewith your investment instructions. When we have received allyour specified rollovers, they will immediately be used tocommence your pension, including any investment earningsreceived in the interim. The earnings credited to your iAccessPersonal Super account before your pension commences will betaxed at a rate of up to 15%.

It’s important tonote that ifwedonot receive a specified rolloverwithin75days of the submissionof your application, thepensionwill automatically start with the total receipted rollovers at thattime. If we receive any rollover after 75 days, your financialadviser will be contacted to confirm your instructions.

Pension payments

When you hold an allocated pension you must receive aminimum income payment each financial year, based on yourage and account value. The minimum income amount for thepart-year up to 30 June is calculated at the time your pensioncommences. The minimum is then recalculated on 1 July insubsequent years using your age andaccount value on that date.

If you have not received the full minimum income amount afteryour last income payment for the financial year, we willautomatically pay you an additional income payment for thedifference before the end of financial year to ensure that theminimum is met. Note that any relevant PAYG withholding taxwill be deducted from your pension payment. Your financialadviser can help you calculate your starting minimum pensionpayment level.

You can vary the pension payments at any time within theprescribed limits.

The maximum payment amount for NCAPs is 10% of youraccount valueat the timeyourNCAPcommences. Thismaximumis recalculated each year using your account value at 1 July. Inthe first year of your NCAP, your minimum pension payment isprorated however, the maximum remains at 10%.

For further information on NCAPs, how pension paymentsare calculated and how to make a withdrawal from yourpension, please refer to section 3 of the additionalinformation booklet.

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Automatically increasing your pension payments

Over time, the purchasing power of your money is reducedthrough inflation.

To help keep pacewith inflation you can choose to increase yourpension payment automatically each year.

You can choose from twomethods:

– A fixed percentage (up to 7% pa) – applied on 1 July, or– CPI – applied on 1 July each year using the most recently

published CPI figure.

To activate this facility, simply make this selection uponapplication. You may change or cancel this facility at any time.

Withdrawals

If yourpension is anallocatedpensionyoucanmakewithdrawals(which exclude regular pension payments) from your accountany time. Withdrawals can be made as either:

– partial or full commutations, which may be subject tolump-sum tax, or

– ad hoc pension payments, which may be taxed at a higherrate than regular pension payments.

For further information on taxation of withdrawals, pleaserefer to section 6 of the additional information booklet.

If your pension is a NCAP, withdrawals can be made in thefollowing circumstances:

– where benefits are unrestricted non-preserved– to pay a super surcharge liability– to effect a super split under family law– where a condition of release (e.g. retirement or reaching

age 65) has been met after the NCAP commenced– to roll back to super (e.g. if the income stream from the

NCAP is no longer required)– to roll over to another non-commutable income stream– to give effect to a release authority for excess contributions,

Division 293 Tax or First Home Super Saver Scheme.

For further information on conditions of release, please referto section 2 of the additional information booklet.

Tomake awithdrawal from your pension account your financialadviser will need to submit your withdrawal request on NorthOnline, after obtaining your authorisation.

Withdrawals from your account are normally processed within30 days of us receiving all of the necessary information. Thereis anexception to this requirementwhereparticular investmentshave redemption restrictions imposed by the underlying fundmanager that prevent us from paying the benefit within thisperiod.

However, time frames may vary depending on the time takenby fund managers to complete the processing of saletransactions. A withdrawal may also be delayed if an existingbuy or sell has not been confirmed. Refer to the underlyinginvestment options' PDS for further information relating towithdrawal conditions associated with the underlyinginvestment options.

If you nominate to sell part of your holdings in any managedinvestment fund or listed security (via a partial withdrawal oraspart of a sell instruction) and thewithdrawal amount exceeds90% of the current asset value, the sale will be converted froma dollar-based to a unit-based sale using the latest market unitprice held at the time of sale. This may result in a differentwithdrawal amount fromyour original request due to variationsin unit prices.Withdrawal periods vary between fundmanagersand can be found in the underlying investment options' PDS.

For example, if you held 1,000 units in an investment optionvalued at $2 per unit (1,000 units x $2 = $2,000) and younominated to sell $1,900, we would automatically convert thesale to a unit based sale of 950 units (950 units x $2 = $1,900).

If you make a full withdrawal (commutation), we are requiredto first pay your minimum pension amount for the relevantportion of that financial year. If you have already received morethan this amount, no additional pension payment is required.

If contributionsmade toall of your super accountshaveexceededeither the concessional or non-concessional contribution capsprior to commencing a pension, you may incur an excess taxliability. In this case you can obtain a release authority from theATO towithdrawan amount equal to your tax liability fromyourpension fund.

For further information on the contributions caps, pleaserefer to section 6 of the additional information booklet.

Fast payment

The fast payment of funds is available for partial withdrawalsonly, up to a maximum of 80% of your account balance. Wereserve the right to reduce the percentage. We will aim toautomatically advance the payment of your funds withoutawaiting sale proceeds from underlying investments.

If you are requesting a full cash withdrawal, you can request fora Fast Track withdrawal by contacting us. This will enable youto receive 80% of your funds within two business days of yourrequest being completed (including all requirements) by theNorth ServiceCentre. The remainder of the fundswill be releasedafter all other assets have been sold and the proceeds have beenconfirmed to cash.

During the period of either of the scenarios explained above,your cash account balancemay fall below zero. Refer tonegativecash account balancewithin the the cash account section formore information on the effect of your cash account balancebecoming negative.

Telegraphic transfer

A Telegraphic Transfer (TT) is an electronic transfer to anominated bank accountwhere the fundsmay be cleared in therecipient’s bank accountwithin twohours of the payment beingmade. All overseas bank transfers are completed by TT. A $9charge applies per TT. The receiving bank may also charge anadditional fee for this facility.

13

The cash account

Your cash account

Your iAccess Personal Super and Allocated Pension account usesa cash account that operates as a hub throughwhich all of yourtransactionswill pass. Your contributions, rollovers, and transfers(unless these are transferred in specie), will be made via yourcash account.

The cash account is used for essential functions, some of whichare below.

Managing your cash account balanceYour cash account balancemay fluctuate as funds flow into andout of your super andpensionaccount. Tohelp youautomaticallymanage your cash balance, you have the flexibility of specifyingaMinimumandaTarget (maximum) cashbalance to create yourcash range. While your cash balance remains within the cashrange we will not take any action, if your cash balance goesoutside of this range the following will occur;

– If your balance goes above the target1 thenwewill use theexcess cash to automatically buy investments based onyour automatic buy instructions. Refer to Automatic buyinstructions section under the Investment options sectionof the PDS.

– If your balance goes below the minimum1 then we’ll sellyour investments basedon your automatic sell instructionsand top your cash balance back up to the target.2 RefertoAutomatic sell instructions sectionunder the Investmentoptions section of the PDS.

The diagram below illustrates how this works:

Specifying your Minimum cash balanceYourMinimum cash balance is a specific dollar amount and canbe adjusted at any time, a default of $0 will apply where noselection is made.

Specifying your Target cash balanceYour Target cash balance can be set as:

– a specified dollar amount, or– a percentage of your total account balance which will be

calculated as follows:

Target cashbalance= (AccountbalanceXTarget cashpercentage)+ Minimum cash balance.

Where no selection ismade, a default Target cash balance of 2%X Account balance plus the Minimumwill apply. Your Targetcash balance can be adjusted at any time.

1 Transaction trade minimumsmust be met for automatic buy and sells to occur as per at glance section.2 In the event that your account balance is below your specified dollar target, we will not be able to top up your cash to the full target amount.

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Cash account sweeps

When we will buyWhen thebalance of your cash account exceeds your Target cashbalance by $500, the excess cash will be invested as per yourinvestment instructions. In order for the cash account sweep totake place, the excess cash must meet the transaction trademinimums as defined in the at a glance section of this PDS.

When we will sellIf the balance of your cash account falls below your Minimumcash balance, we will sell your assets as per your investmentinstructions to bring your cash account back to your Target cashbalance. In order for the cash account sweep to take place,transaction trademinimumsmust bemet. Where you have notprovided us with adequate investment instructions we will sellyour managed funds proportionately.

Where youhold listed securities, the sweepmust result in a tradeamount of at least your specified shares trade minimum, perlisted security, for the sweep to occur. The default shares trademinimum is $650per listed security.Where thisminimum is notmet, we will not sell your assets and your cash account balancewill remain below your Minimum cash balance.

Termdepositswill not be sold tobring your cashaccount balanceback to your Target cash balance.

Earnings on your cash account

Fundsheld in your cashaccount arepooledwith the cashbalanceof other members and will be invested in:

– a tradingbankaccountwithWestpacBankingCorporation,and

– a trading bank account with AMP Bank Limited.

We reserve the right to changeor to alter the investment strategyof the cash account at any time without prior notice.

Any balance held in your cash account will accrue interestcalculated daily. Interest accrued will be allocated to the cashaccount effective the first day following the end of each monthor, if you close your account before the end of a month, prior topayment being made.

Negative cash account balance

Should your cash account balance become negative at anytime, interest will be charged on the negative amount at thesame rate as the interest paid onpositive cashaccountbalances.

Events that may cause your cash account balance tobecome negative include payments such as taxes, fees,insurancepremiums, pensionpayments,withdrawals or if you'reswitching between investment options.

When your cash account goes into negative, we'll sellyour investments based on your automatic sell instructions tobring your cashaccountbalanceback to theTarget cashbalance.

Where you haven't provided us with automatic sellinstructions, we'll sell your managed funds proportionally.However, if you only hold illiquid investment options, listedsecurities and/or termdeposits, these assetswon't be sold downproportionally and your cash account will remain negative.

For more information on investments, refer to the investingin iAccess Personal Super and Allocated Pension section of thisPDS.

Your cash account and MyNorth Managed Portfolios

Generally, your cash account will be used for the purposes ofsettling all transactions in relation to your Scheme Portfolio(s),including:

– settling transactions relating to the assets held as part ofyour SchemePortfoliowhen it is rebalanced. This includes:

– receiving net proceeds from a disposal of assets(disposal proceeds), and reinvesting those amountsto acquire other assets as part of your SchemePortfolio; and

– making additional investments in circumstanceswhere a rebalance involves a disposal of certain assetsand a corresponding acquisition of substitute assetsat the same time, and market movements result inthe proceeds from the asset disposal being less thanthe costs of the asset acquisition (the amount of theadditional investment fromyour cashaccount in thesecircumstanceswill be equal to thedifferencebetweenthe relevant disposal proceeds and acquisition costs)

– receiving income from underlying assets, and reinvestingthese amounts (except in relation to those managedportfolioswhere suchamounts arenot reinvested into yourScheme Portfolio the MyNorth Managed Portfolio PDS fordetails);

– pay any fees, expenses, taxes and or charges in relation toyour investment in MyNorth Managed Portfolios.

You provide us with standing instructions to facilitate yourinvestment in MyNorth Managed Portfolios and use your cashaccount in this way. These standing instructions are set out inthe account details authorisation form that you will completeprior to opening an account.

Refer to theMyNorth Managed Portfolios PDS for moreinformation about the use of your cash account while investedin MyNorth Managed Portfolios.

When your money will be invested

Your contributionwill generally be credited to your cash accounton the business day it is received. Any balance held in your cashaccountwill accrue interest at the current cash account creditingrate on the daily balance from that date until your funds areinvested according to your investment instructions.

Your investment instructions are forwarded to the underlyingfund manager, term deposit provider and Australian SecuritiesExchange (ASX) on a daily basis. The effective date of yourinvestment will be the date applied by each individual fundmanager or term deposit provider. Ad hoc instructions to tradelisted securities will normally be forwarded to the ASX whenthey are received.

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Investing in iAccess Personal Super and Allocated Pension

Investment options

iAccess offers you awide range of investment options to choosefrom, with access to managed funds, managed portfolios, termdeposits and direct shares. You can choose your investmentsfrom the following three investment menus:

1. Pathways menu – gives you access to five core and fourspecialistportfoliosmanagedby ipacusingamulti-managerapproach.

2. Strategic Servicemenu–gives youaccess tomanaged fundsmanagedby ipacusingamulti-managerapproach. StrategicService investment options are closed to new investors.Existing investors that hold the fund can continue topurchase additional units.

3. Investor Choice menu – offers an extensive list ofmulti-manager and single manager funds, managedportfolios, listed securities on theS&P/ASX300andselectedAustralian real estate investment trusts (AREITs), exchangetraded funds (ETFs), exchange traded commodities (ETCs),listed investment companies (LICs), listed investment trusts(LITs) and term deposits.

Eligible investment selection process

The investment options are subject to ongoing review and duediligence. This is performedagainst a number of investment andclient related criteria as well as risk considerations. These areaimed at assessing the ongoing suitability of the option forclients, and include but are not limited to factors relating to thefund manager (investment process, resourcing and support,implementation, and performance), and others specific to theinvestment option such as relative risk, costs and tax, marketrisk, liquidity risk, operational risk and credit risk. All investmentoptions are subject to the same review criteria, includinginvestment options offered by related parties.

Fromtime to time,we'll addor remove investmentoptionsbasedupon the above investment, client and risk considerations. Werecommend you consult your financial adviser before selectingthe specific investment options for your investment strategy.NMMT is not responsible for the performance of underlyinginvestment options.

Formore information on the investment options available, referto the iAccess investment options document onnorthonline.com.au/iaccess or contact theNorth Service Centreon 1800 667 841 for a copy.

Investment instructions

When your financial adviser completes your application to opena iAccess Personal Super and/or Allocated Pension account, youare required to provide your automatic buy instructions. You canalso arrange to provide ongoing investment instructions,including:

– automatic buy instructions– automatic sell instructions– rebalance profile– dollar cost averaging.

Restrictions may apply to the investment options chosen. Referto removing or closing investment optionswithin the investingin iAccess Personal Super and Allocated Pension section of thisPDS for more information.

Automatic buy instructions

Contributions and rollovers that take your cash account balanceabove your Target cash balance will be invested according toyour automatic buy instructions.

You can nominate the following options for your automatic buyinstructions:

– Invest as per buy profile– Invest as per buy profile (excluding listed securities)– Leave excess funds in cash

Yourautomaticbuyprofile can includemanaged funds,managedportfolios and listed securities and must be specified aspercentages.

If any of your investment options are sold in full and you don'tupdate your automatic buy profile, funds may continue to beinvested into that option.

Accounts without automatic buy instructions will have anyexcess cash remain invested in your cash account.

Automatic sell instructions

Payments such as taxes, fees, insurance premiums, pensionpaymentsandwithdrawalsmaycauseyour cashaccountbalanceto fall below your nominated Minimum cash balance. If thishappens, we'll sell down your investments according to theautomatic sell instructions that you've nominated.

You can nominate the following options:

– Divest as per sell down profile– Divest as per sell down order– Pro rata across managed funds only (default option)

Your automatic sell profile/order can include managed funds,managed portfolios and listed securities.

If there are insufficient funds in an investment option to sellusing your automatic sell instructions, then the requiredamountwill be sold proportionally across your managed funds. Sells aregenerally processedas adollar amount tomatch your automaticsell instructions. If the percentage amount for any investmentoption that is required to be sold is greater than 90%, the salewill be converted from a dollar-based amount to a unit-basedsale using the latest unit price we hold. This may result in thepercentage sold being different to the percentage you specified.

If you don't have automatic sell instructions, your investmentswill be sold down proportionally.

Listed securities and term deposits won't be sold proportionallyand may cause your cash account to become negative.

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Rebalance profile

Over time, the value of your underlying investments willfluctuate. If you invest in more than one underlying investmentoption, this variation is likely to cause yourpercentageofholdingsto vary from your initial investment profile. The auto-rebalancefacility rebalances your investment options back to yourrebalanceprofile, in accordancewith your standing instructions.

You can nominate a rebalance profile when you set up youraccount and modify it through North Online. Your profile caninclude managed funds and listed securities and must bespecified in percentages.

The auto-rebalancing feature gives you the option to rebalancequarterly, half-yearly or yearly ona selecteddate. The rebalancingwill only occur on your nominated rebalance date if the total ofthe buy transaction or sell transaction to rebalance back to yourprofile meets the trade minimums. If the rebalance does notmeet the trade minimums, the rebalance will be skipped. Inaddition, any pending buy and sell transactions must becompleted prior to the account being rebalanced.

The next rebalancing date will be scheduled based on thenominated rebalancedate according to the rebalance frequencyyou have specified.

Dollar cost averaging

Dollar cost averaging (DCA) is theprocess of investing a set dollaramount into the market over regular intervals. The aim of thisapproach is to reduce the risks associated with trying to choosethe right time to buy. DCA is subject to a minimum instalmentof $100.

The benefits of DCA vary depending on the type of investmentand market conditions. You should seek advice from yourfinancial adviser on how DCAmay suit your individualcircumstances.

For further information on DCA, please refer to section 7 ofthe additional information booklet.

Switching between investment options

Switching involves the selling of an investment option and thepurchase of another. Both the purchase and sale are conductedat the same time, which may result in your cash accountbecoming negative for a short period of time. Importantly, youare still invested for the day(s) your cash account is negative.

Your instructions for a switch are specified in dollars, subject totrade minimums.

If the dollar amount of an investment to be sold is greater than90% of your holding, the sell instructionswill be converted fromdollar-based to unit-based using the latest unit price we hold.This may result in the dollar amount purchased being differentto the dollar amount sold or the percentage switched beingdifferent to the dollar amount specified.

Redemptions

Redemption periods vary between fund managers. Some fundmanagers can complete redemptionswithin a short time framehowever there are fund managers that can take a considerableamount of time to complete a redemption. Please consider theimpact of your investments with longer redemption periodswhen being used in sell or rebalance profiles.

Listed securities

iAccess allows you to invest in the S&P/ASX 300 securities listedon the Australian Securities Exchange (ASX) and other securitiesas listed in the iAccess Investment Options document availableat northonline.com.au/iaccess.

All orders placed through North Online are converted to a limitprice as per ASX requirements. Please refer to the ASX for moreinformation.

To invest in listed securities through iAccess, your financialadviserwill need to request aHolder IdentificationNumber (HIN)through North Online, which is unique to your account.

If the listed security is no longer on the S&P/ASX 300 noadditional units can be purchased.

Corporate actions

From time to time, there may be corporate actions associatedwith listed securities. Examples of corporate actions include, butare not limited to, rights issues, share splits and buy-backs.

The trusteewill generally allowparticipation in corporate actionsfor listed securities within the S&P/ASX 300.

Another type of corporate action is an initial public offer (IPO).An IPO is when a company lists on a stock exchange to becomea public company and first sells its securities to raise funds.

The trustee will decide if it is in members’ best interests toparticipate in an IPO on a case by case basis.

We will notify your financial adviser of any approved corporateactions and ask them to contact you, to provide us withinstructions on your behalf. Wewill act on those instructions asprovided to us by your financial adviser. If your financial adviserhas provided you with transaction access for trading securities,you will be able to give us your instructions directly throughNorth Online.

For corporate actions, where participation results in you holdingassets outside the S&P/ASX 300, we may, at our discretion, selldown theseassets and credit theproceeds to your cashaccount.

Please see our Proxy Voting Policy availableonwww.amp.com.au for more information on how corporateactions and IPOs may be treated.

Term deposits

You can invest in term deposits with a range of providers. Pleaserefer to the iAccess investment options document for a full listof providers.

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Removing or closing investment options

Wemay, from time to time, redeem or close certain investmentoptions where the underlying investment is either terminatingor being closed by the fund manager or deposit provider. Wemay also decide to redeem (terminate) or close certaininvestment options as part of our ongoing review and duediligence (refer to Eligible investment selection process withinthe same section above). Where this occurs, we will normallyprovide you with at least 30 days prior notice. Prior to receivingany new instructions for terminated investments, wewill investthe proceeds of the redemptions in your cash account. If theterminated investment option is a TermDeposit, wewill changeyour reinvestment instruction to ‘no reinvest’ and also investthe principal and/or interest in your cash account at maturity.Where we cannot provide you with at least 30 days prior notice(due to circumstances outside of our control or in circumstanceswhere we believe that there is immediate investment risk), wewill provide you with notice as soon as practicable.

Where we cannot provide you with adequate notice or wherewe have not received alternative investment instructions fromyou, we will take the below actions:

1. If the investment option is terminated or closed toadditional investments and it formspart of your investmentinstructions:

– the investment option will be replaced with the AMPWholesale Cash Management Trust (NML0018AU) in yourbuy profile

– your dollar cost averaging purchase instruction will becancelled

– your existing sell profile will remain unchanged if theinvestment option is closed

– your rebalance instruction will be cancelled and yourrebalanceprofilewill be deleted. The auto-rebalance facilitywill no longer be available while you hold units in thatinvestment option.

2. If the investment option is closed to new investors you cancontinue to invest in the closed investment optionprovidedyou currently have a holding in the investment option. If itforms part of your investment instructions and you do notcurrently have a holding in the investment option:



– your rebalance profile will be deleted.

3. If the investment option is suspended (frozen) and formspart of your investment instructions:



– your rebalance instruction will be cancelled and yourrebalanceprofilewill be deleted. The auto-rebalance facilitywill no longer be available while you hold units in thatinvestment option.

4. If the investment option is closed to new investors and hasrestricted redemptions:

If you currently have a holding in the investment option and itforms part of your investment instructions:

– your automatic buy profile will remain unchanged– your automatic sell profile will be updated– your rebalance profile will deleted.

If you don't currently have a holding in the investment optionand it forms part of your investment instructions:

– the investmentoptionwill be replacedwith theAMPCapitalWholesale Cash Management Trust (NML0018AU) in yourautomatic buy profile


– your automatic sell profile will be updated– your rebalance profile will be deleted.

If it forms part of your sell profile and you have instructed us to:

– divest as per the sell downprofile, the entire sell profilewillbe deleted and your automatic sell instructions changedto sell down pro rata across all managed funds only

– divest as per the sell down order, we will delete theinvestment option from the sell down order

– pro rata across managed funds only, we will continue tosell pro rata across your remaining managed funds.

Where you are invested in an investment option that isterminating, your holdings in the option will be sold subject toany suspension/withdrawal restrictions. Proceeds from the salewill be allocated to your cash account. Additionally, where youholdan investmentoption that is suspended (frozen), terminatedor closed, the auto-rebalance facility is no longer availablewhilstyouholdunits in that option.However, youmaywish to completea one-off rebalance by excluding the suspended, terminated orclosed investment option. For further information on thewithdrawal restrictions that may apply, refer to liquidityriskwithin thewhat risks apply to investing? section of this PDS.

For further information on the AMP Capital Wholesale CashManagement Trust (NML0018AU) refer to the PDS which isavailable from North Online. You can make a switch out of thisinvestment option at any time.

Obtaining up-to-date information

Theavailable investment optionsmay change fromtime to time.Full details of the available investment options can be found inthe iAccess investment options document availablefromnorthonline.com.au/iaccessor by contacting your financialadviser or theNorth Service Centre at [email protected] or on1800 667 841.

Fundmanagers will notify us of anymaterially adverse changesor significant events that affect an investment option you haveselected. We will notify you of these changes or events throughNorth Online as soon as we can after we have been notified bythe fund managers. Copies of these documents are availablefree of charge upon request by contacting the North ServiceCentre at [email protected] or on 1800 667 841.

We will not be responsible for any delays in notifying you ofthese changes or events, where the delay has been caused by afund manager.

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Assets transfers (in specie)

An asset transfer (in specie) is the process of transferringmanaged funds and listed securities from one product holderto another, without the need to sell and repurchase the assets.This helps reduce any out ofmarket risks associatedwith sellingand repurchasing the assets.

In specie transfers do not have buy/sell costs formanaged fundsor brokerage fees for listed securities.

There will be a realisation of any capital gains or losses as therewill be a change of beneficial ownership. Other costsmay apply.

Some transfers can take more than three months to completedepending on the type of asset being transferred. Asset parcelsare transferred out on a 'first in first out' basis, meaning olderasset parcels will be transferred out before newer ones.

In specie in

Some assets you hold outside of your iAccess Personal Super orAllocatedPensionaccountmaybe transferred in specie into youraccount if certain conditions are met, including:

– the assets must be available in the iAccess investmentoptions document, including listed securities.

– the other holder (fund manager or platform) allows inspecie transfers out.

An in specie transfer fee will apply for any listed securities yourequest to transfer in. There are no fees for managed funds. Formore information on the in specie transfer fee, please refer tothe fees and other costs section of this PDS.

In specie out

The assets you hold in your accountmay be transferred in specieto another holder, in place of a rollover or cash withdrawal, solongas certain conditions aremet and theother holder iswillingto accept the particular assets being transferred.

An in specie transfer fee will apply to each managed fund orlisted security you request to transfer out. Formore informationon the in specie transfer fee please refer to the fees and othercosts section of this PDS.

The other holder may also charge a fee for accepting in specietransfers in.

Partial in specie transfers out

You can request a partial transfer of your account balance bytransferring all or part of anymanaged fund or listed security. Ifyou elect a partial transfer, your account will remain open andyou can continue to transact on your account. However, youwillnot be able to transact on the remaining holdings in theinvestment options you have elected to partially transfer untilall completed forms have been received and the request hasbeen authorised by us. If you receive dividends paid as part ofyour Dividend Re-investment Plan (DRP) after you submit thetransfer, these will appear as additional units in your existinglisted security holdings.

Full in specie transfers out

Where the transfer request results in a full withdrawal you willneed to ensure you have sufficient cash available in your cashaccount to pay for the provisions detailed below, including thein specie fees. If you do not have sufficient funds in your cashaccount, you will need to sell part or all of your holdings in aninvestment option. If this occurs, you will need to provideinstructions onwhich investment option youwish to sell down.

If listed securities are sold, brokerage fees will apply. Once theasset transfer request has been submitted you will not be ableto transact onyour account andyour accountwill be closedwhenthe asset transfer has been completed.

The maximum amount you can transfer in specie will becalculated based on your total account value less outstandingfees and provisions. The maximum transfer value will becalculated at the time the request is submitted. If you receivedividendspaid as part of yourDRPafter you submit your transfer,these units will be sold to cash as part of the cash withdrawaland account closure.

Some asset transfers may take up to threemonths to complete.We will hold the following amounts in the cash account toaccount for this:

– three months of scheduled pension payments (pensiononly)

– three months of administration fees– three months of insurance premiums (where applicable),

and– three months of advice fees.

If the balance of your cash account exceeds your target cashbalance due to these amounts, the excess cash will not beinvested as per your investment instructions. Refer to cashaccount sweepswithin the the cash account section for moreinformation.

Income

Dividends from listed securities

You have the option of receiving your dividends as a paymentmade intoyour cashaccountor choosingadividend reinvestmentplan (where available), that will reinvest any dividendsautomatically to purchase further shares.

Term deposit interest

Interest earned from term deposits will be paid into your cashaccount uponmaturity or at specified intervals as supported bythe term deposit provider. You may also nominate for interestto be reinvested and added to the principal amount of your termdeposit. Refer to North Online for more details.

Distributions from managed funds

Managed funds will generally earn income and also generatecapital gains. Income is paid in the form of distributions, whichwill then be paid into your cash account.1

Where you hold a iAccess Pension account, you also have theoption tohavedistributionpaymentspaid fromthe cashaccountas a pension payment or added as part of a nominated pensionpayment amount. When this option has been selected,distributions received frommanaged fundsand the cashaccountthat have accumulated since your last pension payment will bepaid. PAYG tax will apply (if applicable) on a per-payment basis.

1 Unless otherwise indicated in the iAccess investment options document or the underlying investment option's PDS.

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MyNorth Managed Portfolios

MyNorth Managed Portfolios is a non-unitised registeredmanaged investment scheme, offering access to a range ofmanaged portfolios. NMMT Limited issues interests in, and isthe responsible entity for, MyNorth Managed Portfolios.

NMMT Limited's role as responsible entity is separate to its roleas service provider to NM Super in connection with iAccessPersonal Super and Allocated Pension.

Managedportfolios aredesigned todeliver a flexible andefficientmeans of gaining exposure to different asset classes.

You can instruct us to invest inMyNorthManaged Portfolios viayour iAccess Personal Super and Allocated Pension account.

Whenyou invest inMyNorthManagedPortfolios through iAccessPersonal Super and Allocated Pension, we will make anapplication to the responsible entity to establish an interest inthe scheme, which we will hold in your account in relation toeach particular managed portfolio that you select.

The responsible entity will then use the funds invested fromyour iAccess Personal Super and Allocated Pension account toconstruct your Scheme Portfolio by acquiring assets that areconsistent with the managed portfolio you select. This will bedone in proportions that match (as closely as practicable) theset asset allocation of the managed portfolio.

Your SchemePortfoliowill bemanagedby the responsible entityin line with the investment strategy applicable to the managedportfolio youhave selected. See theMyNorthManagedPortfoliosPDS for details of theavailablemanagedportfolios andapplicableinvestment strategies.

The interest in MyNorth Managed Portfolios is held for you byus, under the terms of iAccess Personal Super and AllocatedPension. All underlying assets held in your Scheme Portfolio areheld for the responsible entity by the custodian.

Youdirect us touse your cashaccount for thepurposes of settlingall transactions in relation to your Scheme Portfolio. Please referto your cash account and MyNorth Managed Portfolioswithinthe the cash account section for further information.

A copy of the MyNorth Managed Portfolios PDS is availableatnorthonline.com.au/iaccessorby contacting theNorthServiceCentre on 1800 667 841. You should consider the MyNorthManaged Portfolios PDS in deciding whether to acquire, orcontinue to hold, an interest in MyNorth Managed Portfoliosthrough iAccess Personal Super and Allocated Pension.

Are labour standards, environmental, social, orethical considerations taken into account?

The trustee does not take labour standards, environmental,social, or ethical considerations into account in the selectionretention or realisation of the Fund’s investment options.

Does the trustee invest in derivatives?

The trustee does not invest directly in derivatives. However,underlying investment managers may do so. Derivatives aresecurities that derive their value from other assets or indices.Examples of derivatives include futures and options.

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What risks apply to investing?

While superannuation and pension accounts are carefullyregulated, they arenot risk free.Here is anoverviewof significantrisks you may face.

Changes to legislation and trust deeds

Investments in super and pensions are subject to legislativerequirements. Changes to legislation are made frequently andmay affect who can invest, what tax is to be paid andwhen andhowmoney can be withdrawn.

Super and pension funds are governed by a Trust Deed. Thetrustee is able to amend the rules in the Fund's Trust Deed thataffect how the Fund operates. Other risks relate to increases infees, a change in investmentmanagers and the performance ofinvestment managers. The trustee uses adherence to the lawand the Fund's Trust Deed and ongoing monitoring of theperformance of investment managers to reduce these risks.

An investment in iAccess Personal Super andAllocatedPension issubject to investment risk, includingpossibledelays in repaymentand loss of income and capital invested. This risk can includemarket risk, company risk, currency risk, interest rate risk andinflation risk.

Neither the trustee, nor any other member of AMP or theinvestment managers, guarantees the payment of income orthe performance of the investment options.

Diversification

Diversification is a basic strategy used to reduce some of therisks associated with investing. By spreading your investmentsacross anumberof assets, youarenot reliant on theperformanceof, and are not exposed to the risk associated with holding only,a single investment. Investing in only oneor a fewspecific assetsor direct securities can increase your risk. It is very importantthat you understand and are aware of the risks and mitigatingstrategies, such as diversification, that are available to you. Formore informationonwhat risks apply to investing, speak to yourfinancial adviser.

Risk and return

Your investment strategy will be highly dependent on yourattitude towards risk. All investments carry a risk component.Risk in an investment context refers to the possibility that theinvestmentwill not return its original capital or expected incomeor that the level of return will be volatile over any given timeperiod. This risk can include market risk, company risk, currencyrisk, interest rate and inflation risk. Investments with a low riskprofilewill usually provide lower, thoughmore consistent, returnsthan thosewith ahigher risk profile. For example, investing cashinto bank accounts is considered low risk/low return, while theshare market has historically had higher volatility and higherreturns over the longer term.

Liquidity risk

Liquidity risk is the risk that your investment cannot be bought,sold, cashed, transferred or rolled over as quickly as you mightwish.Different investmentshavedifferent transactionprocessingtimes, and thus different levels of liquidity risk.

Investment transactions, withdrawals, rollovers and transfersfromyour superannuationaccountarenormallyprocessedwithin30 days of us receiving all the necessary information. Someinvestments, referred to as illiquid assets, require a longer periodto be redeemed. This longer redemption period is imposed bythe underlying investment manager because some or all of theassets within the investment are illiquid. Account fees willcontinue to be charged while invested in illiquid investmentoptions.

Investment manager risk

Investmentmanager risk is the risk that a particular investmentmanager will under-perform its stated objectives, peers orbenchmarks. The performance of your managed funds is partlydependent on the performance of the investment managers,who may not achieve their investment objective. Changes instaff within the investment management teammay also affectperformance. Thedegreeof success of an investmentmanager’sstrategies and methodologies can vary according to economicandother conditions.We reserve the right to change investmentmanagers, change the investment options offered by them,introduce new investment options or cease to offer investmentoptions. In some cases this may mean that your investmentsmay have to be sold. If this occurs, there is a risk that you mayincur losses (including taxes and transaction costs), or miss outon potential gains.

For further information on the risks of investing, please referto section 4 of the additional information booklet.

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Standard Risk MeasureThe standard risk measure is based on industry guidance to allow investors to compare investment options that are expected todeliver a similar number of negative annual returns over any 20-year period.

The table below sets out the standard risk measure bands/labels used for each investment option based on the estimated numberof negative annual returns that an investment optionmay experience over any 20-year period. Negative annual returnsmay not occurin consecutive years.

Estimated number of negative annual returns over any 20 year periodRisk labelRisk band

Less than 0.5Very Low1

0.5 to less than 1Low2

1 to less than 2Low to Medium3

2 to less than 3Medium4

3 to less than 4Medium to High5

4 to less than 6High6

6 or greaterVery High7

The standard risk measure is not a complete assessment of all forms of investment risk. For instance, it does not detail what the sizeof a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives.Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return.

Members should still ensure they are comfortablewith the risks andpotential losses associatedwith their chosen investment option(s).

For the standard riskmeasure for each of the investment options available, refer to the iAccess investment options document locatedat northonline.com.au/iaccess.

For further information on standard risk measure, please refer to section 4 of the additional information booklet.

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Fees and other costs

The total fees and costs you pay include the fees of iAccess Personal Super and Allocated Pension as well as the underlying fees andcosts of any investment option(s) you choose.

It is important that you understand the fees and costs of any investment options you choose and that those fees and costs are inaddition to the fees we charge.

For detailed information about theunderlying fees and costs associatedwith anyparticular investment option, refer to that investmentoption’s PDS. Visit northonline.com.au or contact your financial adviser to obtain up-to-date copies.

DID YOU KNOW?

Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns.For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to20% over a 30 year period (for example, reduce it from $100,000 to $80,000).You should considerwhether features such as superior investment performance or the provision of bettermember services justifyhigher fees and costs.You or your employer, as applicable, may be able to negotiate to pay lower fees. Ask the fund or your financial adviser.1

TO FIND OUTMORE

If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities andInvestmentsCommission (ASIC)website (www.moneysmart.gov.au) has a superannuation calculator tohelp you checkoutdifferentfee options.

This document shows the fees and other costs that you may be charged. These fees and other costs may be deducted from yourmoney, from the returns on your investment or from the assets of the superannuation entity as a whole.

Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will depend onthe nature of the activity, advice or insurance chosen by you. Entry fees and exit fees cannot be charged.

Taxes, insurance fees and other costs relating to insurance are set out in another part of this document.

You should readall of the informationabout fees andother costs because it is important tounderstand their impact on your investment.

The fees and other costs for each investment option offered by the entity are set out in the underlying investment option's PDS.

1 The statement that your employer may be able to negotiate to pay lower fees is prescribed by law and is not applicable to this product.

23

https://northonline.com.au/

https://amp.objective.com/ecc/www.moneysmart.gov.au


How and when paidAmountType of fee

The cashaccount investment fee is deducted from interestpaid from the underlying investments on amonthly basis

0.45% pa of the balance of your cash account.Investment fee(i)

prior to the declaration of the crediting rate for the cashaccount.

The administration fee is calculated by multiplying theproportion of your account balance held in Pathways andInvestor Choice by the administration fee rate applicable

InvestorChoice(% pa)

Pathways(% pa)

StrategicServiceand cashaccount

PortfolioBalance

Administration fee(i)(ii)

to your total opening portfolio value on the day of the feedeductionand is deducted fromyour cashaccount on yourmonthly account anniversary.0.8560.716NilFirst $100,000

0.6310.300NilNext $150,000up to $250,000

0.405NilNilNext $750,000up to $1,000,000

0.225NilNilOver$1,000,000

The trustee fee is calculated and deducted monthly onyour accountbalanceheld inPathwaysand InvestorChoiceonthemonthlyanniversaryof theaccountcommencementdate. The trustee fee does not apply to amounts held inthe cashaccount or invested in Strategic Service strategies.

Plus 0.09% pa of your account balance held in Pathwaysand Investor Choice.

Not applicable.Nil. However, underlying buy/sell costs(iii) may apply.Buy-sell spread

Not applicable.Nil. However, underlying buy/sell costs (iii) may apply.Switching fee

Not applicable.NilAdvice fees relating to allmembers investing in aparticular investmentoption

Brokerage fees are deducted from your cash account atthe time the trade is settled or, if you use a panel broker,theday yourpanel broker sendsus your trade information.

0.11% of the total of each listed security purchase or salesubject to aminimum fee of $34. If you use a panel broker,a settlement fee of $10.25 also applies.

Other fees and costs(iv)

In specie transfer feesarededucted fromyour cashaccountat the time of the transfer.

Plus $25.63per listed security, ETF, ETCorAREIT for inspecietransfers in; and

$100 for each asset for in specie transfers out. Stampdutymay apply.

Deducted from your cash account, in accordancewith theterms of the insurance policy.

Plus insurance fees(v)will apply if youhave insurance cover.

Deducted from your cash account as agreed between youand your financial adviser.

Plusmember advice fees as agreed between you and yourfinancial adviser.

The telegraphic transfer fee is deducted from your cashaccount at the time of the withdrawal.

Plus $9perwithdrawal if youhave requested a telegraphictransfer.

Not applicable.Nil. However, underlyingmanagement costs (iii)may apply.Indirect cost ratio(i)

(i) If your account balance for a product offered by the superannuation entity is less than $6,000 at 30 June each year, or at the time you exit your account, the totalcombined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% (after the benefit of any tax deduction passed onto you)of the account balance. Any amount charged in excess of that cap will be refunded.

(ii) Refer to administration fees section of this PDS for further information.(iii) Refer to underlying fees and costs of investment options section of this PDS for further information.(iv) Refer to the other fees and costs section of this PDS for further information on other fees and costs that may be charged.(v) Refer to your insurer's Insurance PDS for further information on insurance fees (premiums) and other charges.

24

Additional explanation of fees and costsThis section provides extra information on the fees and costs that apply to iAccess Personal Super and Allocated Pension.

Administration fees

The administration fee covers all costs and expenses incurred inthe administration of your iAccess Personal Super and AllocatedPension account, excluding all investment costs. Theadministration fee does not apply to Strategic Service strategiesor any amount held in the cash account.

These fees are generally not negotiable by you. From time totime, these feesmaybenegotiatedby your financial adviser. Thenature of these variations are dependent on the arrangementbetween us and your adviser. As a result, we may rebate part ofthe administration fee chargedbyus. If applicable, these rebateswill be directly paid to your cash account once or on a monthlybasis, depending on the nature of the rebate.

The administration fee is calculated according to the fees andcosts table.

These charges are calculatedmonthly on your portfolio balanceanddeductedon themonthlyanniversaryof thecommencementdate.

Benefit from multiple accounts

Thegroupingofaccountsallowsyou to reduce theadministrationfee you pay. When accounts are grouped, their balances arecombined to calculate the total portfolio value which is appliedto all accounts.

Individual fee aggregation

We automatically combine the account balances of up to six ofyour accounts to determine the administration fee rate. Theaccount types that we combine include iAccess Personal Super,iAccess Allocated Pension and iAccess Investment.

Family groups

Family groups can be set up by your financial adviser throughNorthOnlinebynominatingaprimarymemberwithin the familygroup. All members of the family group must have the samefinancial adviser and one of the following relationships to theprimary member to be eligible for family grouping:

– spouse– de facto– parent– child– sibling– grandparent, or– grandchild.

Amaximumof fourmembersareallowed ina family group,withup to six accounts per member.

Self managed super funds (SMSFs), trusts and companies areeligible to be included in a family group, if each member of theSMSF, beneficiary of the trust or director of the company has avalid relationship to the primary member.

Family fee aggregation

Family fee aggregation allows you and members of your family(family group) to combine the account balances of your iAccessPersonal Super, iAccessAllocatedPensionand iAccess Investmentaccounts. The administration fee applied to eachaccountwithina family groupwill be calculatedbasedon the combinedbalance

of up to six accounts for each family member. Where a primarymember ceases to hold an eligible account, the family groupwillbe terminated.

Trustee fee

The trustee fee is 0.09% pa of your account balance held inPathways and Investor Choice. The trustee fee does not apply tothe amount held in the cash account or invested in StrategicService strategies.

Other fees and costs

Brokerage fees

When purchasing or selling listed securities, brokerage fees willapply. These fees include GST and are an additional cost to you.

Standard brokerage fees of 0.11% of the total of each listedsecurity purchase or sale apply, subject to aminimum fee of $34per trade. These fees will be will be directly debited from yourcash account at the time the trade is settled.

If youuseapanel broker, thebrokerage fee is negotiatedbetweenyou and the panel broker, and a settlement fee of $10.25 willapply in addition to any brokerage fees. The settlement fee willbe deducted fromyour cash account on the day the panel brokersends us your trade information.

Please ask your financial adviser for details on current brokeragerates.

In specie transfer fee

When transferring assets in or out of your account, in specietransfer fees will apply. These fees are an additional cost to you.

For an in specie in transfer, a transfer fee of $25.63 per asset willapply for each listed security, ETF, ETC and AREIT you request totransfer in. This cost is charged by the broker and not by us. Thisfee will be deducted from your cash account after the assettransfer has been processed.

For an in specie out transfer, a transfer fee of $100 per assetapplies to each managed fund or listed security you request totransfer out. This fee will be deducted from your cash accountat the time the units being transferred are removed from youraccount. If there are insufficient funds in your cashaccount someof the assets may be sold to fund these costs.

Insurance fees

Insurance fees (premiums) are dependent on the cover selected,age, gender, occupation, health and other factors. If insurancecover is provided, premiumsarededucted fromyour cashaccountin advance. Refer to your nominated insurer's PDS for furtherinformation. Your financial adviser can provide you with apersonalisedquote. Formore informationabout insurance, referto the Insurance section.

Reimbursement of insurance administration costs

Under agreements with the life insurers, NMMT is entitled toreceive payments from life insurers to reimburse costs incurredin relation to the administration of your insurance.

25

Member advice feesYoumay agree to pay your financial adviser member advice fees (MAF) from your iAccess account, which is remuneration they receivefor providing you with financial advice in relation to this product. You should discuss MAF with your financial adviser to ensure youunderstand them and how they are calculated. MAF that you agree to pay your financial adviser will be deducted from your accountin accordance with your instructions to us, and paid to your financial adviser on your behalf.

MAF may comprise of either one or a combination of the following:

How and when paidMember advicefee options

Member advice fee types

A one-off dollar fee as agreed with your financial adviser, which is deducted from yourcash account.

A one-off dollarfee

Member advice fee – initial

A fee you may agree to pay yourfinancial adviser for initial financialadvice. This may include initial, planpreparation and research, and adviceimplementation.

The fee will be deducted from your account at the time your account is established,subject to your total super and pension balance and any one-off member advice feesalready paid over a 5-year rolling period.(i)(ii)

Where your balance is not sufficient to pay this fee at establishment, the fee will bedeductedonceyour total super andpensionbalancesexceeds theminimumrequirement.

A one-off dollar fee as agreed with your financial adviser, which is deducted from yourcash account.

A one-off dollarfee

Member advice fee – ad hoc

A fee you may agree to pay yourfinancial adviser for additionalfinancial advice.

The fee will be deducted from your account at the time we receive your instructions,subject to your total super and pension balance and any one-off member advice feesalready paid over a 5-year rolling period. (i)

A regular dollar and/or percentage fee deducted from your cash account on a monthlybasis, as agreed with your financial adviser.

A regular dollarand/orpercentage fee

Member advice fee – ongoing

An ongoing fee you may agree to payyour financial adviser for ongoingfinancial advice.

Fees will be deducted monthly based on the start date of the fee agreement. Fees willbe deducted up to the amount determined by your account balance(i) at the end of eachfee period.

Deductions for member advice fees are subject to minimum account balances. Refer tomember advice fee limitswithin the fees and other costs section in this PDSfor further details.

(i)

The 5-year rolling period for one-off fees starts from 23 January 2021.(ii)

In all circumstances, you control theMAFpayments and can instruct us to changeor ceasepayments. This instructionmust be receivedby us inwriting. Your instructionswill generally be actionedwithin two business days, but itmay take longer depending on processingrequirements. We will also process instructions from your financial adviser to cancel MAF payments.

In the event we receive inconsistent instructions from you and your financial adviser we will always act in accordance with yourinstructions.

Where you enter an agreementwith your financial adviser for aMAF, it is possible that your financial advisermay transfer the advisoryservices they provide you to another financial adviser. This may occur in circumstances such as, but not limited to, your financialadviser retiring, changing roles, merging advice practices or selling all or part of their practice.

Where any such changes occur, you will be notified within 30 days of us becoming aware of any such change, and your MAFarrangements will continue to be paid for the agreement period to the new financial adviser, unless you instruct us otherwise.

You should refer to your Statement ofAdvice and your advice agreement fromyour financial adviser for details of theMAFarrangementsbetween you and your financial adviser.

26

Member advice fee limitsThemaximumMAF that you canagree topay your financial adviser fromyour account (excluding any remuneration that your financialadviser charges you directly) is dependent on your account value and is outlined in the following table.

MaximumMAF payable to your financial adviser:

MaximumMAF payable by you (inclusive ofGST, net of RITC) pa

MaximumMAF payable to your financialadviser (inclusive of GST) pa

Account balanceFee type

$5,125 over a rolling 5-year period(ii)$5,500 over a rolling 5-year period(ii)Under $500,000MAF(initial, ad-hoc)

$10,250 over a rolling 5-year period(ii)$11,000 over a rolling 5-year period(ii)$500,000 and above

NilNilUnder $10,000MAF (ongoing)

2.05% of your total account balance pa(iii)2.2% of your total account balance pa(iii)$10,000 and above

The balance for MAF (initial, ad-hoc) is based on the total balances across all your MyNorth, North, Summit, Generations and iAccess Super andPension accounts. The balance for MAF (ongoing) is based on your individual account balance.

(i)

The 5-year rolling period for one-off fees starts from 23 January 2021.(ii)The account balance is based on the balance on the day a fee is charged.(iii)

An advice fee arrangement is in place for a maximum of 12months. Each year, you will need to consent to a new feearrangement with your financial adviser for a fee to continue tobe charged.

Limitswill bemonitored and verified against your account valueeach timeaMAF is charged to your account.We reserve the rightnot to deduct fees that we believe are unreasonable. If a MAFpaymentwill result in your accountbalancedecreasing to $5,000or less, no payment will apply.

The remuneration that your financial adviser receives differsfrom the amount you pay from your cash account due to thereduced input tax credit (RITC). RITC is a partial rebate of theGSTpayable to financial advisers that we pass directly onto you.Therefore, you are not charged the entire amount that thefinancial adviser receives as remuneration.

Exceptions to these caps

Your adviser may submit a request to charge amounts eitherfor:

– accounts with balances less than $10,000 where themember has more than one account, or

– fees above the stated fee caps for total super and pensionbalances of $50,000 and over.

The feesmust only beused for advice in respect of your accountswithin the Fund and must not be used to pay for any otherproducts or financial advice about non-super savings andinvestment opportunities. We reserve the right to decline anyrequests where the proposed fees do notmeet the sole purposetest or are not appropriate for the advice given.

Underlying fees and costs of investment options

The fees and costs of any investment options selected by youand your financial adviser are in addition to the fees we chargefor accessing these investment options.

Details of the various types of fees and costs charged by theunderlying investment managers are set out below.

You can find an up-to-date list of the underlying investmentoption fees and costs reflecting the underlying investmentoption's PDS disclosure on North Online or in theiAccess investment options document.

Formoredetailed informationabout feesandcostsof aparticularinvestment option, refer to that investment option’s PDS. VisitNorth Online to obtain the most up-to-date copy of the PDSprovided by the relevant fundmanager or contact your financialadviser.

Management costs

Management costs are the ongoing fees and expenses ofinvesting in an investment option and include managementfees, expense recoveries, performance fees (if applicable) andindirect costs.

Managers of the investment options generally expressmanagement costs as a percentage per annum of the net assetvalue of the investment option.

Termdeposits andmost listed securities do not have underlyingmanagement costs, however they may apply for Australian realestate investment trusts (AREITs), exchange traded funds(ETFs), listed investment companies (LICs) and listed investmenttrusts (LITs).

27

Transactional and operational costs

In addition tomanagement costs, transactional andoperationalcostswill generally be incurredwhendealingwith theunderlyingassets of an investment option. They includebrokerage, clearingcosts, stamp duty, the buy and sell spreads of any underlyingfunds and certain costs associated with holding derivatives ordirect investments in real property.

Transactional and operational costs will differ according to thetypes of assets held by the investment option andwhether theyare traded inAustralia or overseas. Transactional costs vary basedon relative costs of investing with a particular fund managerand/or a particular type of investment.

Termdeposits andmost listed securities do not have underlyingtransactional and operational costs, however theymay apply forAustralian real estate investment trusts (AREITs), exchangetraded funds (ETFs), listed investment companies (LICs) and listedinvestment trusts (LITs).

Buy/sell costs

Most investment options, excluding listed securities and termdeposits, have buy/sell spreads. This is the difference betweenthe buy unit price and the sell unit price and is the fundmanager’s estimates of the costs of buying and selling assets ofthe investmentoptiondue to investments andwithdrawals fromthe fund.

When you invest in amanaged fundwepurchase the equivalentunits for you at the buy price. When determining your accountvalue, we then value these units using the sell price, which isgenerally lower than the buy price. The buy/sell cost representsthis reduction in value.

Buy/sell costs are additional costs to the investor and arereflected in the unit price and are not charged separately. Theyare not paid to us, they are used by the fund manager to meettransaction costs. The buy/sell costs will vary depending on theinvestment option selected.

Additional fee and cost information

Fund management payments

NMMTmay receive payments of up to 0.53% pa or fixedpayments fromfundmanagers foramounts invested inparticularinvestment options made available to you. Payments receivedare determined by the agreements NMMT has with applicablefundmanagers. Thesepayments and theirmethodof calculationmay change from time to time and are not an additional cost toyou. All fund manager payments are agreed on arm's lengthterms.

Increases or alterations in charges

The trustee can annually adjust themaximumdollar amount orpercentage amount of any fee or charge to reflect any increasein the CPI. You will be notified of this via the Trustee annualreport.

We reserve the right to add or alter any of the charges and feesoutlined in this PDS at the discretion of the trusteewithout yourconsent. With the exception of CPI related increases, youwill beinformed of any alteration to the charges and/or fees at least30 days before they occur.

The Trust Deed also permits the trustee to charge other feessuch as:

– entry fee– expense recovery fee– transaction fee– benefit payment fee.

The trustee does not currently charge these fees.

Taxation and fees

The actual amount of fees and costs youpay for iAccess PersonalSuper accounts and NCAP accounts may be reduced by up to15%. This is because superannuation funds currently receive a15% tax deduction for deductible expenses for super and NCAPaccounts. The benefit of this tax deduction is passed on to you.

The tax deduction does not apply for other iAccess AllocatedPension accounts.

The fees described in the tables of fees and other costs sectioninclude, if applicable, GST less any RITC where relevant.

For more information about tax and your superannuation,refer to section 6 of the additional information booklet.

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Example of annual fees and costs

This table gives an example of how the fees and costs foraccessing the ipac Pathways 70 Fund for this superannuationproduct can affect your superannuation investment over aone-year period. You should use this table to compare thissuperannuation product with other similar superannuationproducts.

Balance of $50,000Example

For every $50,000 you have in thesuperannuation product you will becharged $0 each year.

NilInvestmentfees

And, for every $50,000 you have insuperannuation product you will becharged $403 each year.

0.806% paPlusAdministrationfees (i)

And, indirect costs of $0 each yearwill bededucted from your investment.

0.00%paPlus Indirectcosts for thesuperannuationproduct

If your balancewas $50,000 then for thatyear you would be charged fees of $403for the superannuation product.

Equals Costof product(ii)

This amount comprises the Pathways administration fee of 0.716% pa andthe trustee fee of 0.09% pa.

(i)

Additional fees and costsmay apply, includingmember advice fees as agreedwith your financial adviser, and underlying fees and costs for the ipac

(ii)

Pathways 70 Fund - refer to example 1 under the additional examples oftotal annual fees and costs of this PDS for more information.

Additional examples of total annual fees and costs

The following examples illustrate how the cumulative effect ofthe fees and costs of iAccess Personal Super and AllocatedPension, aswell as the underlying fees and costs of certain typesof investment options, can affect your superannuationinvestment over a one-year period, and how they can varydepending on the investment options you select.

These examples are for illustrative purposes only.

The actual fees and costs that you will be charged will dependon your total account value, the investment options you chooseand the transactions you carry out.

Example 1 - Managed fund on Pathways

Balance of $50,000Example– ipac Pathways70 Fund

For every $50,000 you have in thesuperannuation product you willbe charged $403 each year.

0.806%pa

Cost of iAccessPersonal Super andAllocated Pension(i)

And,other costs of $765each yearwill be deducted from yourinvestment.

1.53% paPlus Other costs forthe investmentoption(ii)

If your balancewas $50,000, thenfor that year you would becharged total fees and costsof $1,168 for holding the ipacPathways 70 Fund.

Equals Total fees andcosts(iii)(iv)

This amount comprises the Pathways administration fee of 0.716% pa andthe trustee fee of 0.09% pa.

(i)

This amount comprises estimates of underlying management costs, andcertain transactional and operational costs, for the ipac Pathways 70 Fundbased on the last financial year.

(ii)

Additional fees and costsmay apply, includingmember advice fees as agreedwith your financial adviser. And, a buy/sell cost of 0.36% applies whenever

(iii)

you invest in the ipac Pathways 70 Fund (this will equal $18 for every $5,000you invest).Pathways investors receive a rebate of the underlying management costs of0.495% pa for balances up to $100,000 which would reduce the total feesand costs charged for holding the ipac Pathways 70 Fund to $905.50 eachyear.

(iv)

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Example 2 - Managed fund on Investor Choice

Balance of $50,000Example – Vanguard BalancedIndex Fund


0.946%paCost of iAccessPersonal Super andAllocated Pension(i)

And, other costs of $170 eachyear will be deducted from yourinvestment.


If your balancewas $50,000, thenfor that year you would becharged total fees and costsof $643 for holding theVanguardBalanced Index Fund.

Equals Total fees andcosts(iii)

This amount comprises the Investor Choice administration fee of 0.856% paand the trustee fee of 0.09% pa.

(i)

This amount comprises estimates of underlying management costs, andcertain transactional andoperational costs, for theVanguardBalanced IndexFund based on the last financial year.

(ii)

Additional fees and costsmay apply, includingmember advice fees as agreedwith your financial adviser. And, a buy/sell cost of 0.25% applies wheneveryou invest in the Vanguard Balanced Index Fund (this will equal $12.50 forevery $5,000 you invest).

(iii)

Example 3 - Term deposit

Balance of $50,000Example – AMP Term Deposit


0.946%pa


And, other costs of $0 each yearwill be deducted from yourinvestment.

NilPlus Other costs forthe investmentoption(ii)

If your balance was $50,000, thenfor that year youwouldbe chargedtotal fees and costsof $473 for holding an AMP TermDeposit.



(i)

There are no underlying fees and costs for Term Deposits.(ii)Additional fees and costsmay apply, includingmember advice fees as agreedwith your financial adviser. Buy/sell costs do not apply to Term Deposits.

(iii)

Example 4 - Listed securities

Balance of $50,000Example – Listed shares inS&P/ASX 300 index


0.946%pa


And, other costs of $0 each yearwill be deducted from yourinvestment.

NilPlus Other costs forthe investmentoption(ii)

If your balancewas $50,000, thenfor that year you would becharged total fees and costsof $473 for holding listed sharesin the S&P/ASX 300 index.



(i)

There are no underlying fees and costs for listed shares, however underlyingmanagement and transactional and operational costs may apply for AREITs,ETFs, LICs and LITs.

(ii)

Additional fees and costsmay apply, includingmember advice fees as agreedwith your financial adviser. And, a brokerage fee will apply whenever youtrade listed securities (this will equal $34 for every $5,000 you invest in a

(iii)

single trade, unless you use a panel broker in which case brokerage fees arenegotiated between you and the broker and we will charge an additionalsettlement fee of $10.25 per trade).

Example 5 –MyNorthManaged Portfolio on Investor Choice

Balance of $50,000Example – Research ChoiceBalanced Accumulation Portfolio

For every $50,000 youhave in thesuperannuationproduct, youwillbe charged $473 each year.

0.946% paCost of iAccessPersonal Super andAllocated Pension(i)

And, other costs of $475 eachyear will be deducted from yourinvestment.


If your balancewas $50,000, thenfor that year you would becharged total fees and costs


of $984 for holding the ResearchChoice Balanced AccumulationPortfolio.


(i)

This amount comprises estimates of underlying management costs andcertain transactional andoperational costs for the ResearchChoice BalancedAccumulation Portfolio.

(ii)

Additional fees and costsmay apply, includingmember advice fees as agreedwith your financial adviser. And, an estimated buy/sell cost of 0.36% applieswhenever you invest in the ResearchChoice BalancedAccumulation Portfolio(this will equal $18 for every $5,000 you invest).

(iii)

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Defined fees

Activity fees

A fee is an activity fee if:

1. the fee relates to costs incurred by the trustee of thesuperannuationentity that are directly related to anactivityof the trustee:i. that is engaged in at the request, or with the consent,

of a member orii. that relates to a member and is required by law, and

2. those costs are not otherwise charged as anadministrationfee, an investment fee, a buy sell spread, a switching fee,an advice fee or an insurance fee.

Administration fees

An administration fee is a fee that relates to the administrationor operation of the superannuation entity and includes coststhat relate to that administration or operation, other than:

1. borrowing costs; and2. indirect costs that are not paid out of the superannuation

entity that the trusteehas elected inwritingwill be treatedas indirect costs andnot fees, incurred by the trustee of theentity or in an interposed vehicle or derivative financialproduct; and

3. costs that are otherwise charged as an investment fee, abuy/sell spread, a switching fee, an activity fee, an advicefee or an insurance fee.

Advice fees

A fee is an advice fee if:

1. the fee relates directly to costs incurred by the trustee ofthe superannuation entity because of the provision offinancial product advice to a member by:i. a trustee of the entity, orii. another person acting as an employee of, or under an

arrangement with, the trustee of the entity, and2. those costs are not otherwise charged as anadministration

fee, an investment fee, a switching fee, an activity fee oran insurance fee.

Buy/sell spreads

A buy sell spread is a fee to recover transaction costs incurredby the trustee of the superannuation entity in relation to thesale and purchase of assets of the entity.

Exit fees

An exit fee is a fee, other than a buy-sell spread, that relates tothe disposal of all or part of a member's interests in asuperannuation entity.

Indirect cost ratio

The indirect cost ratio (ICR), for a MySuper product or aninvestment option offered by a superannuation entity, is theratio of the total of the indirect costs for the MySuper productor investment option, to the total average net assets of thesuperannuation entity attributed to the MySuper product orinvestment option.

Note: A dollar based fee deducted directly from amember’saccount is not included in the indirect cost ratio.

Investment fees

An investment fee is a fee that relates to the investment of theassets of a superannuation entity and includes:

1. fees in payment for the exercise of care and expertise inthe investment of those assets (including performancefees); and

2. costs that relate to the investments of assets of the entity,other than:i. borrowing costs; andii. indirect costs that are not paid out of the

superannuation entity that the trustee has elected inwriting will be treated as indirect costs and not fees,incurredby the trusteeof theentity or in an interposedvehicle or derivative financial product; and

iii. costs that are otherwise charged as anadministrationfee, a buy/sell spread, a switching fee, an activity fee,an advice fee or an insurance fee;but does not include property operating costs.

Switching fees

A switching fee is a fee to recover the costs of switching all orpart of a member’s interest in the superannuation entity fromone investment option or product in the entity to another.

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Insurance available through iAccess Personal Super and AllocatedPension

For most people, insurance is an important part of any financial plan. Without insurance you and your family may not be able tocontinue the lifestyle that you have worked hard to achieve.

iAccess Personal Super and Allocated Pension gives you the option of applying for insurance as a part of your account. Insurance isoffered through the following insurers:

– TAL– AIA– AMP Life.

You can choose:

– Life insurance (Personal Super and Personal Pension)– Total and permanent disability insurance (Personal Super only)– Income insurance (Personal Super only).

Insurance cover is provided under insurance policies issued by your nominated insurer and held by the Trustee.

To apply for insurance cover you will need to obtain the applicable insurance PDS from your financial adviser. You should consider theinsurer's PDS before deciding to acquire insurance. Your insurance can only be provided through your iAccess Personal Super andAllocated Pension if your application is accepted by the insurer and you have provided us with a written election that you want totake out or maintain the insurance even if your account is, or becomes inactive (i.e. doesn't receive a contribution or rollover for 16months), has a balance below $6,000 or you are under age 25.

If youdonotmake awritten election to keep your insurance, premiumsmaynot bepaid fromyour iAccess Personal Super andAllocatedPension account to the insurer. This will mean you may not have insurance cover.

Payments of any super benefits are subject to you satisfying a condition of release under superannuation law. Any Life or TPD benefitsthat become payable from your insurance cover will be paid into your cash account prior to being released by the Trustee. Any Incomeinsurance benefits will be paid to you directly by the Insurer on the Trustee’s behalf.

For information on the insurance cover available refer to the insurance PDS for each insurer at northonline.com.au/iaccess.

The impact of insurance on your super balanceWhere you do choose to take out insurance cover through your superannuation account, it's important to be aware that any insurancepremiums funded from your accountwill reduce your super balance over time.While insurance cover is an important benefit tomanymembers, high insurance premiums (for instance, where premiums exceed 1% of your salary), may inappropriately reduce (or erode)your super balance. You should regularly review your insurance and consider whether the overall benefits and cost of that insuranceis appropriate for you. Your financial adviser can assist you in assessing your insurance needs and the best way to meet them.

Changes to insurance offered through AMP Life from 1 April 2020From 1 April 2020, new applications into AMP Life (for AMP Elevate) will only be accepted from existing AMP Life customers.

An AMP Life customer is defined as any individual or entity that is a policy owner or an insured person under a life policy issued byAMP Life.

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How your benefit will be paid upon death

In the event of your death while you are a member of iAccess, we will release the total amount in your account in the form of asuperannuation death benefit. You may choose one of the following options for nominating how a death benefit would be paid inthe event of your death:

– Binding death benefit nomination– Non-lapsing binding death benefit nomination– Non-binding death benefit nomination, or– Reversionary pension.

If you do not nominate a binding death benefit nomination, you should consider making a will. Your financial adviser can assist youin assessing your estate planning options.

Regardless of the option chosen, the trustee must generally ensure that the benefits are paid to your dependants (as defined in theFund’s Trust Deed and applicable superannuation law) and/or your legal personal representative.

For further information on how benefits will be paid upon death, refer to section 5 of the additional information booklet.

Invested assets upon deathAll assets will remain invested as per your account investment instructions until alternative instructions are received from a validbeneficiary or legal personal representative.

This amount and any insurance benefits (if applicable) will then be paid by the trustee to beneficiaries. If you hold a term deposit itwill continue to be invested until the maturity of the asset, unless otherwise notified by a valid beneficiary or legal personalrepresentative as determined by the trustee.

Investment instructions, adviser remuneration and financial adviser accessAny existing investment instructions, regular savings plans, member advice fees and financial adviser access may also be cancelledupon receipt of notification of the client’s death.

33

Further information you need to know

Taxation information

As an incentive to save for your retirement, the super systemoffers some attractive tax advantages.

Generally, your super may be taxed:

– when contributions are made– on your earnings while your money is invested in super

(maximum of 15%)– when youwithdraw yourmoney from super under age 60.

We recommendyou checkwith your financial adviser or taxationprofessional as individual circumstances may differ and taxinformation may change in the future.

For further information on taxation, refer to section 6 of theadditional information booklet or refer to the AustralianTaxation Office website at ato.gov.au.

Tax file number notification

Your tax file number (TFN) is confidential. Before you provideyour TFN we are required to tell you the following:

Under the Superannuation Industry (Supervision) Act 1993, thetrustee is authorised to collect, use anddisclose your TFN,whichwill only be used for lawful purposes.

Thesepurposesmay change in the future as a result of legislativechange. The trustee may disclose your TFN to another superprovider when your benefits are being transferred, unless yourequest inwriting that the trustee of your superannuation fundnot disclose your TFN to any other super provider.

It's not an offence not to quote your TFN. However, giving yourTFN to the fund will have the following advantages (whichmaynot otherwise apply):

– The fundwill be able to accept all types of contributions toyour account(s).

– The tax on contributions to your super account(s) will notincrease.

– Other than the tax thatmay ordinarily apply, no additionaltax will be deducted when you start drawing down yoursuper benefits. This affects both contributions to yoursuperannuation and benefit payments when you startdrawing down your superannuation benefits, and

– Itwillmake itmucheasier to trace different super accountsin your name so that you receive all your super benefitswhen you retire.

iAccess Personal Super members

The trustee is required by law to refund any membercontributions received if a TFN has not been provided within 30days. The trustee is entitled to deduct an administration fee, anytransaction costs and premiums that have been paid in relationto cover for a specific period. If you do not or cannot provide avalid TFN, wemay not be able to accept you as amember of thefund.

An additional tax applies to employer contributions when wedo not have your TFN. This tax is called the no-TFN tax and is30% plus Medicare levy and is calculated and deducted at theearlier of 30 June each year and when you leave MyNorth. Thistax is on top of the 15% contributions tax paid on thesecontributions. You may be eligible for a refund of no-TFN taxpaid if you provide us with your TFN within four financial yearsfrom the start of the financial year when the contribution wasmade. Any refund will be added to your super benefit and willbe subject to the usual cashing restrictions and tax rules.

iAccess Allocated Pension members

If you are over the age of 60 at the commencement of yourpension, no TFN is required as all benefits are tax free.

You should be aware that if you do not provide your TFN, anyadditional tax on your benefits paid to the ATO (such as tax onwithdrawals and pension payments) cannot be reclaimed fromthe Fund even if you have subsequently provided your TFN.

Investing in iAccess Super and Pension compared toinvesting directly

Key differences between investing directly and investing iniAccess Personal Super and Allocated Pension include:

Direct investmentiAccess Personal Super andAllocated Pension

You generally require large sumsof money to invest in eachwholesale investment.

You will have access to a range ofwholesale investments thatgenerally have lower fees thanretail investments.

You will receive a separate reportfor each investment.

You will receive comprehensive,consolidated reporting.

You will have direct ownership ofyour investments and will beeligible to exercise all associated.rights (such as voting orparticipating in corporateactions).

NMMT Limited is the legal ownerof the investments andNMSuperis the beneficial owner of yourinvestments.

You may receive regularcommunications frominvestmentmanager.

You won’t receive anycommunications frominvestmentmanager.

Your cooling off rights may beexercised directly against theinvestment manager.

Your cooling off rights may beexercised directly against thetrustee.

You have access to investmentmanagers’ complaints resolutionarrangements.

You have access to iAccessPersonal Super and AllocatedPension complaints resolutionarrangements.

34

http://ato.gov.au

Cooling-off period

A 14-day cooling-off period will apply to your initial investmentin iAccess Personal Super and Allocated Pension.

If, during the cooling-off period, you decide that the investmentdoes not meet your needs, then simply advise us in writing.

The 14 days start when confirmation of your membership isreceived by you or 5 business days after your application isaccepted, whichever is earlier.

If you cancel your membership we will refund your investment,reduced or increased for market movements in your choseninvestmentoption(s).Wewill alsodeduct any taxorduty incurredand any other fees previously described in this PDS, pro-ratedfor the period you have held your iAccess account. As a resultthe amount returned to you may be less than your originalinvestment.

Delays may be experienced if the investment option(s) selectedhave redemption restrictions imposed by the underlyinginvestment manager.

If you satisfy a condition of release under superannuation lawwe can refund the initial investment amount directly to you.However, ‘preserved’ or ‘restrictednon-preserved’ benefits cannotbe refunded directly to you under the 14-day cooling-off period.Wewill roll over or transfer theseamounts to the superannuationfund or RSA you nominate.

Anti-Money Laundering and Counter-TerrorismFinancing (AML/CTF) Act

Weare required to complywith the Anti-Money Laundering andCounter-Terrorism Financing (AML/CTF) Act. This means beforewe can accept you as a member you need to provide certainidentification information and verification documentation. Wemay also need additional customer identification informationand verification fromyouas youundertake further transactions,including a withdrawal or transfer in relation to your account.

We will need to identify and verify:

– you as a member prior to accepting your super or pensionapplication

– your estate. If you die while you are receiving pensionpayments, we will need to identify and verify yourreversionary/beneficiary arrangementsprior to transferringthe pension payments

– anyone acting on your behalf. If you nominate arepresentative to act on your behalf,wewill need to identifyandverify thenominated representativeprior toauthorisingthem as an added signatory to your account

– amember and their self managed super fund (SMSF) priorto processing a rollover to the SMSF. We will only processthe rollover onceall relevant informationhasbeen receivedand your identity and that of the SMSF has been verified.

The customer identification requirements form part of yourapplication. You will need to ensure you provide any necessarysupporting documentation to the application to your financialadviser. In some circumstances, in accordance with the AML/CTF legislation, we may need to re-verify information or requireadditional information from you.

By applying for a iAccess Personal Super or iAccess AllocatedPension product, you acknowledge that we may delay or refuseany request or transaction at our discretion. This could includedelaying the pension payments or withdrawals if we deem thatthe request or transactionmay breach our obligations, or causeus to commit or participate in an offence under the AML/CTFlegislation, and we will incur no liability to you if we do so.

35

Privacy collection statement

Wewill usually collect personal information directly from you,your financial adviser or anyone authorised by you.

The personal information we collect from you will be used to:

– establish and manage your account– ensure compliance with all applicable regulatory or legal

requirements– perform any appropriate related functions– manage and resolve complaints made– undertake market research and analysis for product and

service improvement– provide you with information about financial services

providedbyus, othermembers of theAMPgroupor by yourfinancial adviser through direct marketing. If you do notwant this please contact the North Service Centre [email protected] or on 1800 667 841.

If you do not provide the required information, we will not beable to perform the activities above.

We are required or authorised to collect your personalinformation under various laws including those relating totaxation and Anti Money Laundering and Counter TerrorismFinancing laws.

We will only share your personal information:

– withothermembersof theAMPgroupandexternal serviceproviders, including your financial adviser, that we need todeal with for the purposes described above

– as required by law or regulations with courts, tribunals orgovernment agencies

– with persons or third parties authorised by you, or ifrequired or permitted by law

– with your parent or guardian, if you are under age 18.

Some external service providers we need to deal with can belocated or host data outside Australia. A list of countries wherethese providers may be located can be obtained via our privacypolicy. We take all reasonable steps to ensure that any datashared with external service providers is shared securely toprotect your information.

Where you provide us with the personal information of otherindividuals, it is your responsibility to:

– inform the other individuals that you have provided theirpersonal information to us; and

– provide themwith a copy of this Privacy CollectionStatement.

Our privacy policy provides further information about how youcan access or update your personal information or make acomplaint about a breach or potential breach of our privacyobligations. You can view our privacy policy online atamp.com.au/privacy or contact us on 1800 667 841 for a copy.

Complaints

If you need any additional information about the operation ormanagement of your account, or if you have a concern orcomplaint, then please contact:

– your financial adviser– call the North Service Centre on 1800 667 841– email us at [email protected], or– write to us at:

iAccessGPO Box 2915MELBOURNE VIC 3001

Our customer service officers are available to answer yourenquiries and respond to your complaints. Wewill try to resolveyour enquiry or complaint as quickly as possible. To help us dothis, please give us as much information as possible about yourcomplaint, including your name and account number.

If you have a concern or complaint about your adviser or thefinancial product advice you received, please approach theAustralian financial services licensee forwhomyour adviserwasacting.

If you have a concern or complaint regarding an investmentacquired through this service, please contactususing the contactdetails above. We can direct your complaint or facilitate aresolution with the relevant investment manager.

We have established procedures to deal with any complaints. Ifyou make a complaint, we will:

– acknowledge its receipt and ensure an appropriate personproperly considers the complaint, and

– respond to you as soon as we can.

If your complaint cannot be resolved at first contact, then wewill keep you advised at regular intervals of the status of yourcomplaint.

If we cannot resolve your complaint to your satisfaction or youhave not had a response from us within 45 days, then you mayhave the right to lodgea complaintwith theAustralian FinancialComplaints Authority (AFCA).

AFCA will provide fair and independent financial servicescomplaint resolution that is free to consumers and will acceptcustomer complaints.

Contact details for AFCA are:

Web: afca.org.au

Email: [email protected]

Telephone: 1800 931 678 (free call)

Mail: GPO Box 3, Melbourne VIC 3001

Consolidation of multiple accounts

Each year the trustee will identify and reviewmembers whohave multiple accounts within the Fund. Where the trusteereasonably determines that it is in the best interest of themember, the member’s accounts will be consolidated and themember will receive an exit statement. Members may beprovided the opportunity to choose not to consolidate theiraccounts.

36

afca.org.au

mailto:[email protected]

Payment of benefits to an eligible rollover fund

An eligible rollover fund (ERF) is a special type of super fund thatcanacceptbenefits transferred fromanother super fundwithouta member’s consent. Typically an ERF has a conservativeinvestment strategy, and the administration fees chargedby thefund cannot exceed the fund’s earnings.

There are a number of circumstances where your benefitin iAccess Personal Super and iAccess Allocated Pensionmay betransferred to an ERF. One situation is if your account value fallsbelow the minimum required in the iAccess Personal Super.Upon transfer to an ERFwewill issue youwith an exit statementand the ERF will write to you to advise that it has received yourbenefit and will provide the options available to you.

Wemay also pay your benefit to an ERF if we lose contact withyou and, after a reasonable time, we are unable to locate you.

Once your benefit is transferred into an ERF, you will no longerhave access to your iAccess Personal Super accountand/or iAccess Allocated Pension account you may haveotherwise had access to.

The ERF for iAccess Personal Super and Allocated Pension is:

AMP Eligible Rollover FundPO Box 300PARRAMATTA NSW 2124Phone: 131 267Fax: 1300 301 267

Further information

For further information on any of the following topics, referto section 7 of the Additional information booklet availableon North Online:– family law and superannuation– supply of member information to the ATO– the Trust Deed– relationship between the trustee and some companies

in which the Fund will invest– relationship between the trustee and some service

providers– direct debit service agreement– temporary residents leaving Australia.

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0878801

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Contact us

1800 667 841phonenorthonline.com.au/[email protected]

mail GPO Box 2915MELBOURNE VIC 3001

ipac iaccess personal super and allocated pension product

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