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This document forms part of the Product Disclosure Statement for Enterprise Super (a division of the General Retirement Plan ABN 32 894 907 884).

The Trustee and Issuer of the General Retirement Plan is Equity Trustees Limited (ABN 46 004 031 298, AFSL No. 240975).

The Fund Administrator, Promoter and Investment Manager of the General Retirement Plan is SMA Super Pty Ltd (ABN 74 006 877 872, AFSL No. 246883). Customer Service: Tel (03) 9602 3848 or 1800 816 575 Fax (03) 9602 3554 Level 16, 114 William Street Melbourne VIC 3000.

PRODUCT DISCLOSURE STATEMENT PART 1 OF 2

EMPLOYER-SPONSORED SUPERANNUATION PERSONAL SUPERANNUATION

Issue Date: 5 August 2011

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ContentsDirectory – Service Providers 2

Enterprise Super 3

About this Product Disclosure Statement 3

Introduction 3

Accessing Up-to-Date Information 4

Anti-Money Laundering and Counter-Terrorism Financing 4

Who We Are 5

What is Enterprise Super 6

Employer-Sponsored & Personal Superannuation 7

Choice of Fund Legislation 7

Contribution Information 7

Eligibility to Make Contributions 8

Contribution Caps 8

Employer Contributions 8

Salary Sacrifice Contributions 8

Personal Deductible Contributions 8

Voluntary (after-tax) Member Contributions 9

Government Co-contributions 9

Spouse Contributions 9

Contribution Splitting 9

Rollovers and Transfers 10

Accessing Your Benefits 10

Restrictions 10

Preserved Benefits 10

Restricted Non-Preserved Benefits 10

Unrestricted Non-Preserved Benefits 11

How Long Can Your Money Stay in the Fund? 11

Temporary Resident Members 11

Retirement, Resignation or Termination of Employment Benefit 11

Death Benefit 12

Total and Permanent Disablement Benefit 13

Terminal Medical Condition 13

Income Protection 13

Payment of Benefit in Other Circumstances 13

Investments 14

Investment Background 14

Risk Profile 14

Diversification 15

The Fund’s Underlying Investments – The Pooled Investment Fund 15

Investment Options 16

Switching 16

Socially Responsible Investments 17

Investment Option Profiles 17

Risks of Membership 20

Taxation 22

Contribution Caps 22

What Happens if I Exceed the Contribution Caps 22

Spouse Contributions Tax Rebate 23

Taxation of Contributions 23

Surcharge Tax 23

Taxation of Earnings 23

Taxation of Death Benefits 23

Taxation of Total and Permanent Disablement Benefits 24

Taxation of Terminal Medical Condition Benefits 24

Taxation of Salary Continuance Benefits 24

Taxation of Other Lump Sum Benefits 24

Effect of Goods and Services Tax (GST) 24

General Information 25

Trust Deed 25

Online Access 25

Reports on Your Investments and Other Available Information 25

Privacy 25

Proof of Identity 26

Collection of Tax File Numbers 26

Why your Tax File Number is important 26

Cooling Off Period 27

Keeping in Touch 27

Lost Members 28

Eligible Rollover Fund 28

Unclaimed Money 29

Family Law and Superannuation 29

Policy Committees 29

Enquiries and Complaints – What to do if you have a complaint 30

Glossary 31

Certificate of Compliance 35

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Directory

Enterprise Super Website: www.supermanagers.com.au Customer Service: 1800 816 575

The Trustee of Enterprise Super is Equity Trustees Limited (refer to contact details immediately below).

Trustee and Issuer Equity Trustees Limited (ABN 46 004 031 298, AFSL No 240975) GPO Box 2307, Melbourne, Vic 3001 Telephone 1300 555 378 Facsimile (03) 8623 5395 Website: www.eqt.com.au

Fund Administrator, Promoter and Investment ManagerSMA Super Pty Ltd (ABN 74 006 877 872, AFSL No 246883) Level 16, 114 William Street, Melbourne, VIC 3000 Telephone (03) 9602 3848 Facsimile (03) 9602 3554 Website: www.supermanagers.com.au

Auditor PKF Melbourne Office Level 14, 140 William Street, Melbourne VIC 3000

Eligible Rollover FundColonial Mutual Superannuation Pty Ltd SuperTrace Eligible Rollover Fund Locked Bag 5429 Parramatta NSW 2124 Website: www.supertrace.com.au

The organisations listed above have given their consent to the inclusion of information about them and their products in this PDS.

GlossaryAn explanation of capitalised terms used in this Product Disclosure Statement can be found in the Glossary on page 31.

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Enterprise Super (a division of General Retirement Plan ABN 32 894 907 884)

About this Product Disclosure Statement (PDS)This PDS is issued by Equity Trustees Limited (EQT) who is the Trustee of the Fund (refer to page 2).

The Fund is administered by SMA Super Pty Ltd (SMA or Fund Administrator).

In this PDS, “we/us/EQT” means the Trustee of the Fund and “you/your” means a member or potential member of the Fund.

This PDS is an important document. It provides you with information about the Fund to help you to:

• decide whether this product will meet your needs; and

• compare this product with other superannuation funds.

Important: This PDS is Part 1 of a 2 part PDS. Each sub-fund of Enterprise Super has a Part 2 which is specifically applicable to that particular sub-fund. Details of the sub-funds are listed below. The Part 2 applicable to your choice of sub-fund will be issued to you in conjunction with this Part 1. You must read both parts before applying for membership. If you have not received both Part 1 and Part 2 of the PDS, please contact the Fund Administrator to arrange for a copy to be sent to you.

Enterprise Super (Fund) Consists of the Following:

Employer-Sponsored Superannuation

If your employer has joined Enterprise Super as a participating employer, the Part 2 will contain information specific to your employer’s sub-fund, for example, fee and insurance information.

Personal Superannuation

This option is available to any individual eligible to contribute to a Complying Superannuation Fund, including employees who nominate the Fund under Choice of Fund Legislation (refer to page 7). The Part 2 applicable to Personal Superannuation contains information specific to its’ members .

Allocated Pension

This is for individuals who commence an Allocated Pension by transferring from either the Employer-Sponsored Superannuation or Personal Superannuation, or by transferring benefits from another superannuation fund. Although a sub-fund of Enterprise Super, the Allocated Pension is not covered in this PDS and a copy of the Allocated Pension PDS can be obtained by contacting the Fund Administrator (refer to page 2).

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Enterprise Super You should read this entire document and the applicable Part 2 carefully before making an investment decision. To join the Employer-Sponsored Superannuation your employer will be required to join the Fund as a participating employer. Please refer to the applicable Part 2 for further information. To join the Personal Superannuation, please complete the application form on page 28 of Part 2 Personal Superannuation.

The information contained in this PDS is general information only, and should not be taken as advice or a recommendation to invest in the Fund. This PDS does not take into account your particular objectives, financial situation or needs. Accordingly, you should seek advice from a licensed adviser before making an investment decision. The Financial Planning Association of Australia can provide you with details of advisers in your area by calling 1800 626 393 or visiting www.fpa.asn.au. The Australian Securities & Investments Commission (ASIC) can tell you if an adviser is licensed.

All investments have inherent risk. There are also risks in choosing to invest in superannuation. Information about the significant risks of investing in the Fund is set out in the section titled Risks of Membership commencing on page 20. It is important to note that the repayment of capital invested, the payment of income or the investment performance of any of the investment options is not guaranteed by any person including EQT, SMA (which is not part of EQT) or any of their related bodies corporate, or any of the officers, employees or agents of any member of EQT or of SMA. An investment in the Fund does not represent a deposit with or other liability of EQT or of SMA. Past performance should not be taken as an indication of future performance. This PDS has been prepared to explain the benefits, risks, conditions and key features of membership of the Employer-Sponsored Superannuation and the Personal Superannuation, which are sub-funds of Enterprise Super. It should not be seen as a replacement for the Trust Deed, the legal document governing the Fund (refer to page 25).

In the event of any differences between the PDS and the Trust Deed, the Trust Deed will take precedence.

This PDS can only be used by investors receiving it (electronically or otherwise) in Australia. This PDS does not constitute an offer in any jurisdiction in which, or to any person to whom, it would not be lawful to make such an offer. Applications from

outside Australia will not be accepted.

Accessing Up-to-Date Information Information in this PDS may change from time to time. Unless changed information is materially adverse to members, we may not always update and replace this PDS immediately to reflect the changed information. To find out about any up-to-date information you can access the Fund’s website at www.supermanagers.com.au or contact the Fund Administrator (refer to page 2). A paper copy of any updated information will be given to you without charge on request.

A Glossary of some superannuation terms is provided on page 30. If you have any queries about this PDS or the Fund you should contact your adviser or the Fund Administrator (refer to page 2).

Anti-Money Laundering and Counter-Terrorism Financing The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (‘AML/CTF Act’) requires the Trustee to adopt and maintain an anti-money laundering and counter-terrorism financing (‘AML/CTF’) program. An integral part of the AML/CTF program is the legal requirement for the Trustee to know its customers. To meet this legal requirement certain identification information, including in some cases documentation, will need to be collected from members making applications. Applications made without providing this information can not be processed until all the necessary information has been provided. The AML/CTF program will also include ongoing customer due diligence, which may require the Trustee to collect further information.

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Who We Are

Equity Trustees Limited (Trustee) Equity Trustees Limited (ABN 46 004 031 298, AFSL No 240975) was established in 1888 by its own special act of Parliament to provide trustee services to the people of Victoria. EQT holds ‘Registrable Superannuation Entity’ (RSE) Licence Number L0003094, issued by the Australian Prudential Regulation Authority (APRA), the regulator of superannuation funds in Australia.

The Trustee is responsible for the PDS and issues interests in the Fund. In addition, the Trustee is responsible for ensuring that the Fund is managed in accordance with the Trust Deed and relevant Government legislation. The Trustee is bound by

statute and common law to act in the best interests of all members of the Fund.

SMA Super Pty Ltd (Fund Administrator, Promoter & Investment Manager) The Fund Administrator is SMA Super Pty Ltd (ABN 74 006 877 872, AFSL No 246883), a firm of professional superannuation administrators, whose responsibility is to attend to the day to day operations of the Fund such as processing member applications, processing insurance and investment requests, allocating contributions, paying benefits and responding to member queries. SMA was established in 1987 and is one of the largest privately owned superannuation service providers in Australia.

As the Promoter of Enterprise Super, SMA’s role is to promote and market the Fund to prospective members and participating employers and to help ensure proper and efficient management as well as the Fund’s ongoing development.

SMA’s role as the Investment Manager of the Fund is to manage the investment of the Fund’s assets in accordance with the Fund’s Investment Strategy (refer to pages 16-17).

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What is Enterprise Super Enterprise Super is a division of the General Retirement Plan, a regulated Complying Superannuation Fund.

Enterprise Super is designed to provide superannuation benefits for Employer-Sponsored Superannuation, Personal Superannuation and Allocated Pension members in a cost-effective, simple and flexible manner.

Enterprise Super operates in the form of a Master Fund (refer to Glossary) and is divided into a number of sub-funds established for each participating employer (or group of related employers) within the Employer-Sponsored Superannuation as well as a separate sub-fund for both the Personal Superannuation and the Allocated Pension.

Employer-Sponsored Superannuation and Personal SuperannuationFeatures of Enterprise Super for Employer-Sponsored and Personal Superannuation members include

• the flexibility to make voluntary member contributions to boost your retirement savings (refer to page 9)

• the ability to consolidate rollovers and transfers from other funds

• a range of investment options designed to suit different investors (refer to pages 18-19)

• the ability to transfer between investment options (refer to page 16)

• insurance cover may be provided (refer to Part 2 of the PDS applicable to your employer)

• access to your personal account information via the internet or from the Fund Administrator (refer to page 2) and

• tax concessions associated with complying superannuation funds as set out in superannuation law (refer to pages 22-24).

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Employer-Sponsored & Personal Superannuation

Choice of Fund LegislationChoice of Fund gives eligible employees the right to choose which Complying Superannuation Fund will receive Superannuation Guarantee (SG) contributions made on their behalf by their employer. Your employer can advise if this applies to you.

If Choice of Fund is applicable and you want your employer to contribute to a particular fund, you need to complete a Standard Choice Form available from your employer, the Australian Taxation Office (the ATO) or the ATO’s website, www.superchoice.gov.au. You can obtain further information about Choice of Fund by calling the ATO on 13 10 20.

Choice of Fund can apply to this Fund in 2 ways:

1. If Choice of Fund applies to you

a) you can nominate the Personal Superannuation yourself by completing the Standard Choice Form and giving this to your employer or

b) your employer can register as a participating employer within the Fund

2. If you do not choose another fund, your employer will nominate the Employer-Sponsored Superannuation as the default fund.

Contribution Information

Member Account

Once we accept an application for your membership, we will establish a member account for you and invest your money in the investment option that you have selected (refer to pages 18-19). If you wish to change your investment option at a later date you can do so by completing an Investment Portfolio Update form which is available on the website or by contacting the Fund Administrator (refer to page 2). Please refer to page 16 for further information. If you have not selected an investment option your money will be invested in the default Balanced investment option of Enterprise Super (refer to page 16). Contributions received during a month will be credited with the net after tax cash rate for that month and, thereafter, earnings will be allocated from the chosen investment option (refer to pages 18-19).

Whilst your money is in the Fund, we deduct certain fees from your member account (refer to Part 2 of the PDS), as well as insurance premiums if you have insurance cover (refer to Part 2 of the PDS).

Your Member Account Balance in the Fund Comprises:

• contributions made by, or in respect of you (including contribution splitting amounts (refer to page 9)

• rollovers and transfers (refer to page 10) and

• positive or negative earnings resulting from the investment option chosen (refer to page 14)

Less

• taxes and surcharge tax (refer to pages 22-24)

• fees (refer to Part 2)

• insurance premiums (refer to Part 2 of the PDS)

• benefits paid (refer to pages 10-13)

• payments made if your benefit is split under the Family Law Legislation (refer to page 29)

• rollovers or transfers to other fund (refer to page 10) and

• any other amounts payable.

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Eligibility to Make Contributions Below is a table to assist you to work out the circumstances in which you, your employer or your Spouse may make contributions to the Fund:-

Your Age Requirements You Employer Spouse#

Less than age 65 Nil Yes Yes Yes

65-69 If you are gainfully employed on at least a part-time basis (i.e. you worked at least 40 hours in a period of 30 consecutive days during the financial year in which the contribution is made)

Yes Yes Yes

70-74 If you are gainfully employed on at least a part-time basis (i.e. you worked at least 40 hours in a period of 30 consecutive days during the financial year in which the contribution is made)

Yes Yes No

Age 75 or More Nil No Limited* No

# Refer to page 9 for conditions which must be met before a Spouse Contribution can be made * If you are age 75 or more, generally only contributions required under an industrial award (if any) can currently be accepted.

Contribution CapsThere are limits on the amount of contributions that can be made to superannuation at concessional tax rates. These are called contribution caps. Contributions over the caps may incur extra tax. For an explanation of how these caps apply, please refer to the section Taxation on page 22.

Employer Contributions (Concessional Contributions)Subject to the eligibility rules outlined above, a participating employer may contribute to the Fund on your behalf, including SG contributions or contributions required under an industrial award, certified agreement or workplace agreement. They may also make additional contributions for you. Employer Contributions are generally tax deductible to the employer.

Salary Sacrifice Contributions (Concessional Contributions)If your employer agrees, you may make additional contributions to the Fund by salary sacrifice. This involves reducing your pre-tax salary and diverting that amount to superannuation as an Employer Contribution. Salary Sacrifice contributions are regarded as Employer Contributions. For information on the tax treatment of salary Sacrifice Contributions, refer to Taxation on page 22, or contact the ATO or your tax adviser.

Personal Deductible Contributions (Concessional Contributions)If you earn less than 10% of your income (including assessable income, reportable fringe benefits and reportable employer superannuation contributions) from being an employee, then you may be able to claim a tax deduction for your superannuation contributions. You will need to obtain a Deduction for personal super contribution form from the Administrator and lodge this with the Fund by October 31 each year. Other conditions also apply. For information on the tax treatment of deductible personal contributions, refer to page 23. Contact the ATO or your financial /tax adviser for more information.

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Voluntary (after-tax) Member Contributions (Non-Concessional Contributions)In addition to the contributions from your employer, and subject to the above conditions, you or your Spouse can make contributions from your after-tax salary into your superannuation account to boost your retirement savings. These contributions may be arranged by regular payroll deduction with the agreement of your employer. Voluntary (after-tax) contributions will be subject to the contribution caps. For information on the tax treatment of after-tax contributions, refer to Taxation on page 23, or contact the ATO or your tax adviser.

Government Co-Contributions If your income is below a certain level and you make after-tax contributions to superannuation, you may be eligible for a co-contribution from the Federal Government. If you are eligible, the Government will contribute up to $1.00 for every $1.00 of after tax contributions you make in a financial year, up to a maximum of $1,000. The maximum co-contribution applies if your income is less than $31,920 (for the 2011-2012 financial year) and you make after-tax contributions of $1,000 or more. The Government co-contribution reduces if your income is greater than $31,920 and phases out entirely if your income is greater than $61,920. Your income for this purpose is equal to your assessable income from your tax return, plus any reportable fringe benefits and reportable employer superannuation contributions applicable to you. Other eligibility conditions also apply.

You do not need to apply to be eligible for the Government Co-Contribution. The ATO will assess whether you are entitled to receive a co-contribution using information from the Fund (and any other superannuation funds applicable to you) and your tax return and will make the payment to your superannuation fund. Therefore, you must lodge an income tax return to receive a Government co-contribution. Contact the ATO for further information on the co-contribution.

Spouse Contributions (Non-Concessional Contributions)You can make after-tax contributions for your Spouse and he/she can join the Fund as a Spouse member provided you both meet the following eligibility criteria:

• you are living together on a genuine domestic basis as a couple (i.e. married or in a de facto, including same sex, relationship)

• you are both Australian residents for tax purposes when the contribution is paid; and

• you meet the age restrictions in the table on page 8.

Certain requirements must be met to enable a contribution to be an eligible Spouse contribution and for the Fund to accept the contribution. If you wish to make such contributions please contact the Fund Administrator (refer to page 2).

You may be eligible for a tax rebate in respect of Spouse contributions you make for your Spouse (refer to page 23 for more information).

Contribution Splitting Contribution splitting enables you to split up to 85% of your taxed splittable contributions for that financial year (generally these are your employer’s contributions on your behalf, along with any Salary Sacrifice contributions you make) with your Spouse. You cannot split after-tax contributions, Spouse contributions, or amounts rolled over or transferred into the Fund, nor amounts that are subject to a Family Law Order or Agreement.

At the end of each financial year, you can apply to split contributions made in the previous financial year. If you are leaving the Fund, you can apply to split contributions in the current financial year. You can only make one splitting application in a financial year. Fees may apply for splitting contributions, refer to Part 2 of the PDS for details of any fees that apply.

It is important to note that split contributions count towards your concessional contribution cap not your Spouse’s (refer to page 8). Split contributions become the entitlement of your Spouse, and are required to be Preserved until your Spouse satisfies a Condition of Release (refer to page 10). Whether splitting contributions is right for you will depend on your personal circumstances and we suggest that you consider obtaining professional advice before making an application to split your contributions.

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Rollovers and Transfers You may rollover or transfer superannuation benefits from any other Complying Superannuation Fund, Approved Deposit Fund or Retirement Savings Account into the Fund. Combining your superannuation benefits into one fund will save you paying multiple administration fees which will have an impact on your final benefit and will also allow you to manage your superannuation more effectively. However, your other funds may charge you fees to rollover your benefits. You should also consider matters such as the impact on any insurance benefits in your other funds before proceeding. To transfer or rollover superannuation savings, you need to complete a Consolidation Form which is available by contacting the Fund Administrator. Once we receive your rollover request, we will establish a member account for you and invest your money in the investment option you have selected (refer to pages 18-19). If you fail to make a selection, your money will be invested in the option your existing account is invested in or, if you do not have an existing account, in the Fund’s default Balanced option.

Accessing Your BenefitsRestrictions The Government has placed restrictions on when you can access your benefits in cash. This is in keeping with the long-term investment nature and purpose of superannuation as being predominantly for retirement. Your superannuation benefits are classified into 3 categories; Preserved, Restricted Non-Preserved and Unrestricted Non-Preserved. This classification determines when your benefit may be paid to you. Your annual Member Benefit Statement from the Fund will tell you how much of your benefit is in each of these 3 categories.

Preserved Benefits From 1 July 1999, all contributions made into a superannuation fund and all investment earnings are classified as Preserved. Preserved benefits can only be paid in cash when an applicable Condition of Release is satisfied. Conditions of Release include:

• ceasing gainful employment on or after your Preservation Age (refer to Glossary), where the Trustee is satisfied that you intend never again to be gainfully employed on a full time or part time basis (i.e. more than 10 hours per week)

• reaching age 65

• ceasing gainful employment on or after attaining age 60

• Permanent Incapacity (refer to Glossary)

• meeting the Terminal Medical Condition definition in superannuation law (refer to page 13 for details)

• Death (refer to page 12 for details of how Death benefits can be paid)

• satisfying the conditions for severe financial hardship in superannuation law (restrictions apply to the amount that can be released in this case)

• early release approved by APRA based on compassionate grounds, as set out in superannuation law (APRA may impose restrictions on the amount that can be released in this case)

• ceasing gainful employment with a Standard Employer-Sponsor who contributes to the Fund where your Preserved benefit in the Fund is less than $200 or

• if you were in Australia on a temporary resident visa (excluding New Zealand citizens and sub-class 405 and 410 visas) and have permanently departed from Australia (refer to page 11 for more information for temporary resident members).

Restricted Non-Preserved Benefits These benefits can be accessed in the same circumstances as Preserved benefits, however, there are tax implications for withdrawal of funds prior to Preservation Age being reached. In addition, you are able to access your Restricted Non-Preserved Benefits if you cease gainful employment with an employer who had contributed to the Fund on your behalf at any time.

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Unrestricted Non-Preserved Benefits These are payments that can be paid in cash at any time.

How Long Can Your Money Stay in the Fund?

There are no restrictions on how long your superannuation can remain in the Fund, regardless of your employment status. However, you should ensure the Fund always has your current contact details to prevent unintended consequences that may result from you being classified as a Lost Member or your benefit being classified as unclaimed (refer to page 28 for more information).

Temporary Resident Members

If you accrued your superannuation whilst in Australia on a temporary resident visa (excluding New Zealand citizens and excluding sub-class 405 and 410 visas), you are entitled to withdraw your benefit in cash once you have permanently departed Australia and your visa has been cancelled. This is known as a Departing Australia Superannuation Payment (DASP). If you elect to receive your benefit as a DASP, the taxable component of your benefit (refer to page 22 for information on tax components) must be taxed at 35% and the untaxed component at 45%.

Under certain circumstances, the Trustee is required to transfer a temporary resident’s superannuation account to the ATO.

This will only occur in the event at least 6 months has passed since a temporary resident’s visa has ceased to be in effect or the temporary resident has left Australia and has not taken his/her benefit. The Fund is not obliged to issue an exit statement upon completion of a transfer to the ATO and a member can subsequently access his/her benefit directly from the ATO by contacting them on 13 10 20.

Limited Conditions of Release have now been introduced concerning funds held by temporary residents. Benefits will only be released under the conditions of Death, Terminal Medical Condition, Permanent Incapacity, Temporary Incapacity, departing Australia permanently, Trustee payments to ATO and release authorities under the Income Tax Assessment Act 1997.

Retirement, Resignation or Termination of Employment Benefit

Employer-Sponsored Superannuation

If you leave your employer you will be entitled to a benefit equal to your member account balance (refer to page 7).

Generally, the options available to you at this time are 1 or more of the following:

• transfer your benefit to the Personal Superannuation or to the Allocated Pension, if eligible

• rollover the benefit into another approved fund (such as another Complying Superannuation Fund or Retirement Savings Account, or an Approved Pension Product)

• you can access any Restricted Non-Preserved or Unrestricted Non-Preserved part of your benefit in cash (refer to above for more information)

• leave the benefit in the Fund.

Upon termination of employment from an Employer-Sponsored Fund, you will be contacted by the Fund Administrator in writing and provided with options as to how you may apply for your benefit. If you have insurance cover in your employer’s sub-fund, you will be required to respond to the written options within 30 days of the date of the correspondence or the Trustee will transfer your benefit to the Personal Superannuation to ensure your insurance cover continues.

If you do not have insurance cover, you will be given 90 days to respond before the Trustee transfers your benefit to the Personal Superannuation.


No action required if you leave your employer. You may continue to make contributions subject to the conditions outlined in pages 8-9. If you are eligible and you would like your new employer to direct your SG contributions to your account in the Personal Superannuation, you will need to provide them with a Standard Choice Form (refer to page 7 for more information).

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Death Benefit In the event of your death whilst a member of the Fund, the benefit payable is a lump sum, which consists of:

• your member account balance (refer to page 7) plus

• the proceeds of any Death insurance cover you may have in the Fund (refer to Part 2).

The Trustee may generally pay the Death benefit to one or more of:

• your Dependants (refer to Glossary) and/or

• your legal personal representative (i.e. the executor of your estate).

If you have no Dependants and the Trustee forms the view that you do not have a legal personal representative and none is likely to be appointed, then the Trustee may pay your Death benefit to another person as permitted by superannuation law.

You can make either a binding or a non-binding nomination in relation to the payment of your Death benefit. There are no fees for making a nomination. A nomination enables you to indicate your preference as to whom, and how much, of your Death benefit is to be paid on your death. In either case, you can only nominate your Dependants and/or your legal personal representative to receive your benefit.

It is important to understand that the Death benefit payable under the Fund may not necessarily be subject to the provisions of your Will. There may be tax and estate planning implications with making a binding or non-binding nomination. You should consider obtaining professional advice prior to making a decision. The payment of superannuation benefits is subject to superannuation law, the terms of the Fund’s Trust Deed and the Family Law legislation dealing with the treatment of superannuation on marriage breakdown (refer to page 29 for more information on Family Law and superannuation).

Binding Nomination

If you make a binding nomination and it is valid at the time of your death, then the Trustee will be required to pay your Death benefit in accordance with the nomination. A binding nomination must be witnessed by 2 people who are at least 18 years old and who are not nominated beneficiaries. They must sign and date the form at the same time as you do, or the nomination will not be valid. In addition, the nomination will not be valid if you nominate someone other than your Dependants and/or legal personal representative, or if the percentages of your benefit that you allocate to each nominated beneficiary do not add up to 100%. Binding nominations expire after 3 years, and it is your responsibility to update your nomination prior to the expiry date. Also, it is important to note that if your nomination is valid at the time of your death, then the Trustee must pay your benefit in accordance with your nomination, even if your personal circumstances have changed since you made it. You should, therefore, ensure you update your nomination if your personal circumstances change.

To make a binding nomination, you are required to complete the Nomination of Beneficiary form which can be obtained by contacting the Fund Administrator (refer to page 2).

The Nomination of Beneficiary Form can also be used to update, re-confirm or revoke your binding nomination at any time.

Non-Binding Nomination

If you choose to make a non-binding nomination, then the Trustee will consider your nomination in determining to whom your benefit will be paid. However the Trustee will have ultimate discretion as to which of your Dependants and/or legal personal representative receive the benefits and in what proportions, and may override your nomination.

To make a non-binding nomination, you will be required to complete the Nomination of Preferred Beneficiary(ies) section of the Employer-Sponsored Superannuation Membership form on page 33 or the Membership form on page 35 for the Personal Superannuation.

To update your non-binding nomination please complete the Nomination of Beneficiary form which can be obtained from the Fund Administrator (refer to page 2).

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Total and Permanent Disablement Benefit In the event of being accepted by the Insurer (if applicable) and the Trustee as suffering Total and Permanent Disablement (TPD), the benefit payable is a lump sum, which consists of:


• the proceeds of any TPD insurance cover you may have in the Fund (refer to Part 2 of the PDS).

Your annual Member Benefit Statement from the Fund sets out the amount of your TPD insurance cover (if any).

Terminal Medical ConditionIn the event that the Trustee and, if applicable, the Insurer determine that you meet the definition of Terminal Medical Condition (TMC) under superannuation law, the benefit payable is a lump sum, which consists of:


• the proceeds of any TMC insurance cover you may have in the Fund (refer to Part 2 ).

Generally, the definition of TMC in superannuation law (which applies for preservation and tax purposes) means that 2 registered medical practitioners (1 of whom is a specialist in an area relating to your Injury or Illness) have certified, together or separately, that you have an Injury or Illness that is likely to result in your death within 12 months of the date of the certification. The certification cannot be more than 12 months old.

If you have TMC insurance cover in the Fund, then a different definition may apply for determining whether your insurance cover is payable. Refer to Part 2 of the PDS for more information. This means that, depending on the nature of your condition, you may meet 1 definition but not the other, and this may affect whether your benefit can be paid in cash and whether it will be tax free. You will be advised if this affects you.

Income ProtectionThis benefit is available to both Employer-Sponsored Superannuation and Personal Superannuation members (refer to Part 2 of the PDS). Your annual Member Benefit Statement sets out the amount of your Income Protection cover (if any) and the conditions that apply to the payment of the benefit.

Payment of Benefit in Other CircumstancesAs noted on page 10, Government restrictions apply as to when you can receive your benefit in cash, which generally means that benefits must be retained in the superannuation system until your retirement. However, in certain circumstances you may be able to access your superannuation in cash prior to retirement – please refer to page 10 for more information.

In addition, you are able to transfer your benefit to another Complying Superannuation Fund at any time. This is referred to as a portability transfer. Generally the Trustee must transfer your benefit to your chosen fund within 30 days of receiving all the information required to process your request. However, the Trustee is not required to accept more than one request for a portability transfer from you in any 12 month period.

Generally any insurance cover that you have in the Fund will cease upon the Trustee making your portability transfer. The Trustee recommends that you discuss your options with a licensed financial adviser if you are considering a portability transfer.

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InvestmentsYou can choose the way your money is invested in the Fund by selecting one of the 8 investment options available. Each investment option has a different degree of investment risk (refer below), together with a different expected level of earnings on your investment. This is because each option is made up of different proportions of Growth Assets and Defensive Assets (these are discussed further below).

You should choose the investment option that best meets your personal investment objectives and strategies. These should be considered with the help of a financial adviser. Some of the factors which you may wish to consider based on your personal circumstances include the:

• amount of time your money will be invested

• level of investment earnings (which may be positive or negative) and

• level of risk you are comfortable with for your retirement savings.

Investment Background

Growth Assets

Growth Assets include Australian and International Shares and Property. Growth Assets generally provide relatively higher investment earnings over the longer term, with a corresponding higher level of risk and increased volatility (i.e. increased chance of loss of capital or a negative investment earning).

Defensive Assets

Defensive Assets include Australian and International Fixed Interest, Short Term Fixed Interest Securities and Cash. Defensive Assets generally have a lower level of risk and provide lower returns over the long term.

Growth versus Defensive Assets

If you are investing over the longer term then an investment option with exposure to Growth Assets might be more suitable for you. Generally the longer you hold Growth Assets, the more likely they are to provide you with a better investment earning. If you are investing for a short time, then Defensive Assets may be more important in your investment portfolio. However your decision needs to be made having regard to your own needs, objectives and circumstances.

Risk Profile Investment risk can mean many things. An investment may be considered as carrying more risk if it has a higher likelihood of negative investment earnings, or if the earnings from that investment are more volatile (refer to Glossary) over time.

Risk can also mean the possibility of your investment not keeping pace with inflation, or whether you are likely to have enough to meet your needs in retirement. It is important to remember that your investments may need to continue to be invested even after you retire. Your individual risk profile will depend on a number of factors including how long you have to invest or how comfortable you are with a higher level of investment risk.

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Diversification Diversification is one method that is used to reduce investment risk. Diversification is achieved by:

• investing through different fund managers and other investment providers who have different investment styles, and/or

• investing in different asset classes (eg; Australian and International Equities, Australian and International Fixed Interest, Cash and Short Term Securities).

All the investment options (with the exception of Cash) that are currently offered to members are diversified. That is, they are all multi manager and multi asset class options. To ensure both strong and stable long term results, only reputable fund managers with a proven track record in their area of expertise are used for these investment options.

The Fund’s Underlying Investments – The Pooled Investment Fund The Trustee currently invests all of the assets of the Fund in a pooled superannuation trust (PST) known as the Pooled Investment Fund (PIF). Equity Trustees Limited is the Trustee of the PIF and SMA Super Pty Ltd is the Administrator.

A PST is a superannuation entity that only accepts investments from eligible superannuation funds under superannuation law. The PIF does not accept investments from individuals.

The PIF provides Enterprise Super with access to wholesale investments. The investment manager of the PIF has selected a number of wholesale investments, in various proportions, to construct the 8 investment options the PIF has made available to Enterprise Super (refer to pages 18-19). A Product Disclosure Statement for the PIF, which provides further detail about these underlying wholesale investments and their managers, is available free of charge to investors. Please contact the Administrator (refer to page 2) if you would like a copy.

The Trustee has appointed SMA Super Pty Ltd as the Investment Manager of Enterprise Super to assist it in the selection of investments for Enterprise Super. As a result of this process the underlying investments and fund managers may change from time to time without prior notice to, or consent from, members.

The fees associated with these investments include the wholesale charges of the fund’s underlying managers and administration costs charged by the Administrator. These fees are incorporated in the Indirect Cost Ratio (ICR) for each of the investment options. The ICR is discussed in more detail on page 17.

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Investment OptionsMembers are able to choose one of the 8 available investment options. As noted previously, the investment option that suits each member will depend on various factors based on your personal circumstances. Your financial adviser can assist you in assessing which investment option is most suited to your personal needs.

The 8 investment options available to members of the Fund are listed below, based on their target allocation to Growth and Defensive Assets. The actual allocation of each option will vary over time, usually within ranges set by the Trustee. Each option also has its own investment objectives and strategy. More details of the investment options, including the objectives, strategy and asset allocation ranges, are set out later in this PDS.

Investment Option % Target for Growth Assets % Target for Defensive Assets

High Growth 94 6

Growth 80 20

Balanced 66 34

Managed 52 48

Stable 39 61

Conservative 26 74

Secure 13 87

Cash 0 100

You are able to select the investment option you want to invest in by completing the member application form included in your new member kit for the Employer-Sponsored Superannuation or on page 28 of Part 2 of the PDS for the Personal Superannuation. If you have not selected an investment option your money will be invested in the default Balanced investment option.

Switching Only one investment option can be selected at any particular time. However, you may switch investment options at any time. Currently, there is no administration or investment switching fee for switching between options. To change your investment option, you need to complete an Investment Portfolio Update form which you can download from the Fund’s website (www.supermanagers.com.au) or obtain by contacting the Fund Administrator (refer to page 2). Your new investment option will be effective from the end of the month in which the Fund Administrator receives your completed form and the investment earnings of the new option will apply from that time.

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Socially Responsible Investments The Trustee does not take into account any labour standards or environmental, social or ethical considerations in the selection, retention or realisation of investments comprising any investment option. Similarly the Trustee of PIF (refer to page 15 for more details on the Trustee of PIF) does not consider such factors when making a decision.

The fund managers of the underlying investments also do not take labour standards or environmental, social or ethical considerations into account in the selection, retention or realisation of investments. However, where such issues may materially impact financially on an investment, the managers may divest themselves of that investment.

Investment Option Profiles Important terms and information used in the description of Investment Options (refer to pages 18-19) are explained below.

Investment Objective

This is the goal of each investment option. None of the objectives described below are an indication of the possible future performance of the relevant investment option, or of the Fund in the future. There is no guarantee that the investment objectives will be achieved over any or all time periods.

Investment Strategy

The strategy for a particular investment option is the means by which the investment option seeks to achieve its investment objective. Target asset allocations may vary within the range.

Asset Allocation

The asset allocation is the percentage of the investment option’s assets that are invested in each asset class. Each option’s actual asset allocation will move around the target or benchmark allocation over time, usually within ranges approved by the Trustee. The information on pages 18 & 19 includes the latest available asset allocation for each investment option as at the date of this PDS.

Annual Rates of Investment Earnings

All investment earnings quoted in this PDS are net of investment taxes and investment management fees. They do not include management fees in relation to the administration of the Fund. Refer to Part 2 of the PDS for specific details of fees applicable to your employer’s sub-fund or to the Personal Superannuation.

The Trustee and Fund Administrator do not guarantee any of the investment earnings of the investment options. The value of your investment in the Fund may therefore rise or fall. Past performance should not be taken as an indication of future performance.

Indirect Cost Ratio (ICR)

The Indirect Cost Ratio represents the ratio of the Fund’s investment management costs that are not deducted directly from members’ accounts to the total average net asset value taking into account any tax rebates available in relation to those expenses. The ICR includes an allowance for fees and costs payable to SMA Super Pty Ltd, the current administrator of PIF (refer to Additional Explanation of Fees and Costs in Part 2 of the PDS). The ICR for each investment option is detailed on pages 18 & 19. The ICR for each investment option may vary over time.

Updates to Investment Information

The information provided on pages 18 & 19 in relation to the investment options is current as at the date of this PDS. Updated information can be obtained from the Fund’s website www.supermanagers.com.au or from the Fund Administrator (refer to page 2) or your financial adviser.

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CashInvestment ObjectiveTo provide a low risk investment option that earns a secure rate of interest. To achieve a rate of return after tax and fees that meets the Australian Bank Bill Index.

Investment StrategyTo achieve this objective, the Trustee invests 100% in Cash. Cash is a Defensive Asset class with low volatility and low risk but which yields lower returns than Growth Assets over the long term.

Annual

Effective

Rates of

Net Return

Year Ended Annual Return

30 June 2010 3.1%

30 June 2009 3.8%

30 June 2008 5.1%

30 June 2007 4.6%

30 June 2006 3.9%

Average Compound

Effective Rates of Net

Return to 30 June 2010

1 Year 3.1%

3 Year 4.0%

5 Year 4.1%

Current

Indirect Cost

Ratio (ICR)

0.50%

Asset Allocation Ranges

100% cash

SecureInvestment ObjectiveTo provide a rate of return that, over the longer term, has some limited opportunity for growth if investment markets rise, but with a high priority on preservation of capital. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 0.5% p.a. over rolling 3 year periods.

Investment StrategyTo achieve this objective, the Trustee invests predominantly in a mixture of Cash and Fixed Interest Assets to achieve a degree of security with potential for limited growth.


Australian Equities 6% (0-15)

International Equities 4% (0-10)

Property 2% (0-10)

Fixed Interest 19% (10-25)

Alternatives 1% (0-5)

Cash 68% (65-75)

Annual

Effective

Rates of

Net Return


30 June 2010 5.6%

30 June 2009 1.1%

30 June 2008 1.5%

30 June 2007 5.9%

30 June 2006 5.3%

Average Compound



1 Year 5.6%

3 Year 2.7%

5 Year 3.9%

Current

Indirect Cost

Ratio (ICR)

0.73%

ConservativeInvestment ObjectiveTo provide a rate of return that, over the longer term, has a low degree of volatility but has some opportunity for growth. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 1.0% p.a. over rolling 3 year periods.

Investment StrategyThe conservative option has a higher exposure to investments in Australian Equities, International Equities and Fixed Interest and a lower exposure to Cash when compared to the Secure option. The higher weighting is to increase the returns over the long term.




Property 4% (0-15)



Cash 35% (30-50)

Annual

Effective

Rates of

Net Return


30 June 2010 7.0%

30 June 2009 -1.6%

30 June 2008 -1.3%

30 June 2007 7.5%

30 June 2006 7.4%

Average Compound



1 Year 7.0%

3 Year 1.4%

5 Year 3.8%

Current

Indirect Cost

Ratio (ICR)

0.97%

StableInvestment ObjectiveTo provide a rate of return that, over the longer term, provides a reasonable degree of stability and is rarely negative over any financial year. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 1.5% p.a. over rolling 3 year periods.

Investment StrategyThe Stable option has a higher exposure to investments in Australian Equities, International Equities and Fixed Interest and a lower exposure to Cash when compared to the Secure and Conservative options.


Annual

Effective

Rates of

Net Return


30 June 2010 8.4%

30 June 2009 -5.6%

30 June 2008 -3.5%

30 June 2007 9.7%

30 June 2006 9.5%

Average Compound



1 Year 8.4%

3 Year -0.2%

5 Year 3.7%

Current

Indirect Cost

Ratio (ICR)

1.10%



Property 5% (0-15)



Cash 21% (10-35)

Please note that past performance is not an indicator or guarantee of future performance. Please note that past performance is not an indicator or guarantee of future performance.


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ManagedInvestment ObjectiveTo provide a rate of return that, over the longer term, is higher than that of the Stable option and is rarely negative over any 2 financial years. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 2.0% p.a. over rolling 5 year periods.

Investment StrategyThe Trustee aims to avoid negative returns over any 2 financial years by maintaining a significant exposure to Defensive Assets such as Fixed Interest and Cash.




Property 5% (0-15)



Cash 15% (5-25)

Annual

Effective

Rates of

Net Return


30 June 2010 9.4%

30 June 2009 -8.1%

30 June 2008 -5.8%

30 June 2007 11.9%

30 June 2006 12.0%

Average Compound



1 Year 9.4%

3 Year -1.5%

5 Year 3.9%

Current

Indirect Cost

Ratio (ICR)

1.10%

BalancedInvestment ObjectiveTo provide a rate of return that, over the longer term, is higher than that of the Managed option and is rarely negative over any period of 3 financial years. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 2.5% p.a. over rolling 5 year periods.

Investment StrategyTo achieve a rate of return higher than that of the Managed option, expected exposure to Growth Assets is increased to 66%. This weighting increases the risk of negative returns in the short term but also provides the potential for higher returns than the Managed option in the long term.




Property 5% (0-20)



Cash 6% (0-15)

Annual

Effective

Rates of

Net Return


30 June 2010 10.3%

30 June 2009 -11.0%

30 June 2008 -7.9%

30 June 2007 14.4%

30 June 2006 14.6%

Average Compound



1 Year 10.3%

3 Year -2.9%

5 Year 4.1%

Current

Indirect Cost

Ratio (ICR)

1.14%

GrowthInvestment ObjectiveTo achieve a long term rate of return that is higher than that of the Balanced option and is rarely negative over any period in excess of 5 years. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 3.0% p.a. over rolling 5 year periods.

Investment StrategyThe exposure to Growth Assets is higher than that of the Balanced option to achieve higher returns over the long term.




Property 6% (0-20)



Cash 3% (0-15)

Annual

Effective

Rates of

Net Return


30 June 2010 11.3%

30 June 2009 -13.9%

30 June 2008 -10.1%

30 June 2007 17.0%

30 June 2006 17.1%

Average Compound



1 Year 11.3%

3 Year -4.2%

5 Year 4.3%

Current

Indirect Cost

Ratio (ICR)

1.16%

High GrowthInvestment ObjectiveTo maximise investment growth over the long term. To achieve a rate of return after tax and fees that exceeds the increase in the Consumer Price Index (CPI) by at least 3.5% p.a. over rolling 7 year periods.

Investment StrategyThe asset weightings are represented predominantly by Australian and International Equities to maximise capital growth. Growth Assets provide a higher rate of return over the long term. However, the volatility and risk is also higher than with Defensive Assets.




Property 6% (0-20)



Cash 1% (0-10)

Annual

Effective

Rates of

Net Return


30 June 2010 11.6%

30 June 2009 -15.5%

30 June 2008 -12.0%

30 June 2007 19.8%

30 June 2006 19.6%

Average Compound



1 Year 11.6%

3 Year -5.3%

5 Year 4.7%

Current

Indirect Cost

Ratio (ICR)

1.18%

Please note that past performance is not an indicator or guarantee of future performance.

Please note that past performance is not an indicator or guarantee of future performance. Please note that past performance is not an indicator or guarantee of future performance. Please note that past performance is not an indicator or guarantee of future performance.


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Risks of Membership

Specific Investment Risks All investments carry some level of risk. The significant risks associated with investing in the Fund, and how the Trustee and its fund managers aim to manage these risks, are set out below.

(1) Individual Investment Risk

What is the risk?

Individual investments (e.g. Shares, Property, Fixed Interest Securities) can, and do, fall in value for many reasons, including changes in operations and management of a company invested in and changes in the business environment. This is an inherent risk associated with all investments. However, there is greater risk with portfolios that contain a greater proportion of Growth Assets. The risks decrease with investment options that contain more Defensive Assets.

Management of the risk

The Investment Manager has an Investment Committee that meets regularly to review investments and to evaluate investment performance. The Trustee aims to reduce individual investment risks offering investment options which contain a diversified range of investments offered by different fund managers (refer to page 15 for more information on diversification). The managers of the selected funds also undertake careful analysis of research on current and potential investments.

(2) Market Risk

What is the risk?

Markets are affected by a range of factors including economic, technological, political and legal conditions, and market sentiment. This can mean that changes in the value of investment markets can affect the value of investments in and of the Fund. This is an inherent risk associated with all investments. The degree of risk decreases the more that defensive assets are held within a portfolio compared to Growth Assets such as Shares and Property.


The Investment Manager aims to reduce market risk by offering a range of investment options and monitoring their investment performance as a key performance indicator of a fund manager’s ability to manage market risk.

(3) Interest Rate Risk

What is the risk?

Changes in interest rates can have a positive or negative impact, either directly or indirectly, on investment values and returns. Interest rate risk is of greater significance to those funds that invest in Cash, Short Term and Fixed Interest Securities. However, the risk is evident in other asset classes such as Property Trusts.


Hedging is a strategy undertaken with the goal of reducing the risk of loss but which might also reduce the potential gain from another investment. Some fund managers undertake some interest rate management strategies through hedging.

(4) Fund Risk

What is the risk?

Specific fund risks include the risk that Enterprise Super could be terminated, the fees and charges could change and the fund managers could change. This risk also applies to the underlying investments. There is also a risk that investing in an underlying fund may give different results than investing directly in securities. This is an inherent risk associated with all funds.


The Investment Manager aims to keep fund risk to a minimum by monitoring the selected underlying investment funds. Performance against stated objectives and market benchmarks are closely monitored. If Enterprise Super is wound up, the Fund’s Trust Deed sets out the actions the Trustee must take. In addition, under superannuation law members are required to be given 30 days’ notice of increases in fees or charges.

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(5) Currency Risk

What is the risk?

Currency risk exists where investments are made in International assets. If their currencies change in value relative to the Australian dollar, there may be a negative impact on the investment value or returns. This risk relates to those funds that invest in International Equities and International Fixed Interest.


Some fund managers within the investment menu may undertake some currency hedging strategies with the goal of reducing the impact of adverse movements in the Australian dollar, compared to overseas currencies.

(6) Credit Risk

What is the risk?

Credit risk represents the risk that a debtor or other party to a contract fails to perform as contracted. Certain investments are held indirectly in mortgages, mortgage backed securities, and bonds. Specific risks are associated with these types of investments, including the risk that a borrower may default on a loan, potentially leading to less than expected income and (should the security not be sufficient) possible loss of capital.


The Fund’s Investment Manager uses external research to select what it believes are fund managers who operate on a sound credit policy. The Trustee further minimises credit risk by holding diversified portfolios.

(7) Changes to Superannuation Law and Taxation

What is the risk?

Changes are often made to superannuation law that may impact on eligibility to contribute, the management of superannuation, fund costs, types of contributions, and your ability to access your benefits. Changes can also occur to the taxation of superannuation that may affect the value of your investment.


The Trustee monitors superannuation related changes and provides information in member reports, the Fund’s Annual Report, and on the Fund website. Changes to administration are implemented as required by the Fund Administrator and monitored by the Trustee.

(8) Other Risks

There are risks associated with the Death and Disablement benefits provided in superannuation funds, including this Fund. These include:

• the risk that you suffer Injury or Illness such that you cannot work but are not sufficiently injured or ill to satisfy the definition of disablement in superannuation law or any applicable insurance policy. In such cases, a Disablement benefit will not be paid

• even if your claim is accepted, it may take some time for payment to be made. For example, the time taken to obtain all the required information to assess the claim

• you may not have insurance cover in the Fund, or the Insurer may refuse to provide cover in certain circumstances, for example, if you make a claim caused by war. In this case, an insurance benefit may not be paid

• the maximum amount of cover allowable under the policy or available in your sub-fund may be insufficient for your needs

• the insurance company may decline your cover, which may also affect your ability to obtain insurance cover in the future

• the insurance company may not provide cover if you are required to work overseas.

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TaxationIt is important to note that the following information regarding taxation is believed to be correct at the time of preparing this PDS. However, there may have been changes to the law or the interpretation of the law since that time. We recommend that all members and employers seek the advice of a registered tax agent in relation to their own circumstances. Further information is available from the ATO by phoning 13 10 20, or via their website: www.ato.gov.au/super.

Contribution CapsThere are limits on the amount of contributions that can be made to superannuation by you, or on behalf of you, at concessional tax rates. These are known as Contribution Caps, and they apply on a per person basis (i.e to the total of all your superannuation contributions to all funds that you may be a member of). There are 2 caps:

Concessional Contribution Cap

Concessional contributions include your employer’s contributions and any Salary Sacrifice contributions you make, as well as any personal contributions you are able to claim a tax deduction for. Certain other amounts are also included and more information on these amounts can be found on the ATO website, www.ato.gov.au. For the 2011-2012 financial year, the concessional contribution cap is equal to:

• $25,000, if you are aged less than 50 years at the end of the financial year or

• $50,000 if you are aged 50 or over at the end of the financial year.

The cap may be indexed in future years.

Non-Concessional Contribution Cap

Non-concessional contributions include:

• contributions made from your after-tax salary

• any contributions made for you by your Spouse

• any amounts you transfer into superannuation from overseas superannuation or retirement funds, except to the extent that you elect for them to be taxed in your Australian fund

• any concessional contributions that exceed your concessional contribution cap in the year and

• certain other amounts (refer to the ATO website for more information on these amounts).

For the 2011-2012 financial year, the non-concessional contribution cap is generally equal to $150,000. However, if you are under age 65 years, you can bring forward up to 2 years of future contributions, allowing you a limit of up to $450,000 in a particular year (but with reduced or no further non-concessional contributions in the following 2 years).

What Happens if I Exceed the Contribution CapsIf you exceed the concessional contribution cap, the excessive contributions will be taxed at 31.5% (in addition to the 15% tax that applies to all concessional contributions – refer to page 23). If you exceed the non-concessional contributions cap, the excess will be taxed at 46.5%.

The ATO assesses whether your contributions in any year have exceeded the caps, and will send you an assessment notice in respect of any extra tax that you need to pay. You will also be sent a release authority which you can give to your fund and ask them to pay the tax from your account, or you can choose to pay the tax from your own resources. Note that if you exceed the non-concessional cap, you are required to have the amount of the excess non-concessional tax deducted from your super benefit. Time limits apply to the payment of the tax.

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Spouse Contributions Tax Rebate As noted on page 9, a tax rebate may be available to you in respect of after-tax contributions you make to superannuation for your Spouse. The rebate is calculated as 18% of the Spouse contributions made, up to a maximum rebate of $540 where your Spouse’s assessable income plus reportable fringe benefits and reportable employer superannuation contributions is up to $10,800. Where your Spouse’s income is over $10,800, the rebate you can claim reduces proportionally and ceases when your Spouse’s income is $13,800 or more.

Certain conditions must be met to be eligible for the rebate including both Spouses being Australian residents. Spouse contributions (rebateable or not) are preserved until a Condition of Release is met (refer to Glossary) but are tax free when paid as a benefit.

Taxation of Contributions Concessional contributions are taxed at the rate of 15% by the Fund. You may receive an assessment for additional tax if your concessional contributions exceed the applicable cap – refer to page 22.

Non-concessional contributions that are less than the non-concessional contribution cap are not subject to contributions tax. However, you may receive an assessment for additional tax if your non-concessional contributions exceed the applicable cap – refer to page 22.

If you have not provided your Tax File Number (TFN) to the Fund, your employer and Salary Sacrifice contributions will be taxed in total at 46.5% (including the 15% contribution tax that applies to all concessional contributions), and the Fund will not be able to accept any after-tax contributions or personal deductible contributions from you. Refer to page 26 for more information on providing your TFN to the Fund.

Surcharge TaxThe surcharge was a tax on certain employer contributions in respect of members on higher incomes. The Government abolished the surcharge from 1 July 2005. However, assessments may still be issued by the ATO in respect of contributions made prior to that date. Where a surcharge assessment is received by the Fund your account will be debited and the required amount paid to the ATO.

Taxation of Earnings Whilst the Fund is a Complying Superannuation Fund, the investment earnings of the Fund are taxed at a maximum rate of 15%. In addition, where investment options invest in Australian shares, the tax payable may be partly offset by imputation credits. Tax on any capital gains is calculated on either 2/3 of the value of the gain or the whole of the gain with an indexed cost base, depending on the date on which the assets were acquired and how long they were held.

Taxation of Death Benefits Special rules govern how a Death benefit is taxed. In general terms, a lump sum benefit will be tax-free if it is received by a person who is a Death benefit’s Dependant under tax legislation. This is different to the definition of Dependant for other superannuation purposes (refer to Glossary). A Death benefits Dependant is:

• your Spouse (including a de facto or same sex Spouse) or former Spouse

• a child under age 18

• any other person who was wholly or partially financially dependent on you and

• any other person who, in the opinion of the Trustee, was in an interdependency relationship (refer to Glossary) with you.

Benefits paid to persons who are not Death benefit Dependants will generally be taxed at 15% to 30%, depending on whether the component is a taxed or untaxed element, plus the Medicare levy. Where your benefits are paid to your legal personal representative, the Fund does not withhold tax from the payment, but tax may be payable by your estate depending on how much (if any) of the benefit is likely to be received from your estate by non Death benefits Dependants.

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Taxation of Total and Permanent Disablement Benefits Although Total and Permanent Disablement benefits are treated as superannuation benefits, concessional tax rates may apply. Social security benefits may also be affected. It is recommended that individual members seek qualified professional advice before deciding how to spend or invest a Total and Permanent Disablement benefit.

Taxation of Terminal Medical Condition BenefitsBenefits which meet the definition of Terminal Medical Condition in tax legislation (refer to Glossary) are tax free.

Taxation of Salary Continuance Benefits Salary continuance payments are treated as personal income. Personal income tax will be deducted from each payment made.

Taxation of Other Lump Sum Benefits Lump sum benefits received by members age 60 and over are tax free.

Lump sum benefits paid to members under age 60 generally consist of a tax free component and a taxable component. The tax free component generally consists of after-tax member contributions and any Spouse contributions made for you by your Spouse. It may also include certain other amounts, for example, if you accrued part of your superannuation prior to 1 July 1983 or if you transferred an amount from an overseas fund into your account. If you make a partial withdrawal, it will be drawn proportionally from the taxable and tax free components of your Member Account.

Tax payable on lump-sum withdrawals

Component Maximum rate of tax including Medicare levy

Tax free 0%

Taxable

(Taxed in the Fund)

Aged 60 and over 0%

Preservation Age** to age 59

Amount up to low rate threshold*

0%

Amount over low rate threshold*

16.5%

Under Preservation Age** 21.5%

* The low rate threshold of $165,000 (2011-2012) is indexed annually.

** Refer to Glossary for definition of Preservation Age.

Effect of Goods and Services Tax (GST) The Fund is subject to GST and, therefore, registered for this purpose and is entitled to claim Reduced Input Tax Credits from the ATO in relation to any GST paid. This credit is currently equal to 75% of the GST paid on the services provided by the Trustee. The effect of this is that the GST borne by members is effectively only 2.5%.

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General Information

Trust Deed The Fund is governed by a Trust Deed dated 27 January, 1989 (as amended). The Trust Deed is a document that sets out in detail the operation of the Fund and our relationship with you. It includes rules covering membership, contributions and accounts, fees and charges, and the powers and obligations of the Trustee. Under the Trust Deed and superannuation law, the Trustee is responsible for operating the Fund and investing the Fund’s assets in accordance with the Trust Deed and superannuation law. When joining the Fund, you agree to be bound by the provisions of the Trust Deed, and in the event of any differences between this PDS and the provisions of the Trust Deed, the Trust Deed is the final authority.

A copy of the Trust Deed may be inspected by arrangement during business hours at the office of the Fund Administrator (refer to page 2).

Online Access Upon becoming a member of the Fund you can access online certain relevant information including details of:

• your account balance;

• insurance cover levels;

• investment options; and

• investment performance.

If you wish to use the facility you must first obtain a username and password. Internet access including details on how to gain access to your account is available at www.supermanagers.com.au.

Reports on Your Investments and Other Available Information A Member Benefit Statement is issued annually detailing your account balance as at the end of the financial year and summarising transactions which occurred during that period including any fees, charges and tax deducted. If you make certain transactions during the financial year (such as rollovers into the Fund) these will be confirmed upon receipt. You will also receive information on the Fund as a whole which includes financial and investment information. An annual report for the Fund is prepared as at 30 June each year and you will be advised when a copy is available on the Fund’s website (or a hardcopy can be obtained free of charge on request from the Fund Administrator (refer to page 2). You may also view copies of the audited accounts, auditor’s reports of the Fund, and the Trust Deed of the Fund.

All enquiries relating to the Fund should be addressed to your adviser or the Fund Administrator (refer to page 2).

Privacy Under the Commonwealth Privacy Act 1988, privacy rules now cover almost all personal information held by organisations in Australia.

Purpose and use of personal information

The main reason the Trustee and Fund Administrator collect personal information about you is to establish and administer your benefits in the Fund. As part of the administration of the Fund, your personal information may be disclosed for purposes that include:

• compliance with superannuation and taxation law

• enabling your employer, if applicable, to maintain their superannuation arrangements and

• to enable your financial adviser, if applicable, to provide advice to you.

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Other organisations to which your personal information may be disclosed for these purposes include:

• your bank or other financial institution for any direct credits or debits

• other entities for the purpose of financial advice and rollover or transfer of benefits

• advisers, auditors, consultants, legal or accounting firms, Insurers and financial services industry bodies and

• where relevant, your executor, administrator, trustee, guardian or attorney.

If the requested personal information is not provided on the application form and other relevant forms it may not be possible to process or administer your application. By becoming a member of the Fund you consent to the collection, use and disclosure of your personal information as described above.

Access to your personal information

You can request access to your personal information or obtain the full privacy policy by writing to, phoning or emailing the Fund Administrator (refer to page 2).

Proof of IdentityAs a result of legislation designed to counteract money laundering and terrorism financing, you may be required to provide proof of identity or meet other requirements as determined by us from time to time prior to being able to access your benefits. You will be notified of any requirements when applicable. This legislation may also require us to report suspicious transactions to AUSTRAC (the Government agency responsible for anti-money laundering and counter-terrorism financing). This may require the disclosure of your personal information to AUSTRAC. By law, the Trustee may not be permitted to inform you if this happens.

Collection of Tax File Numbers (TFN) Providing your TFN to the Trustee is optional and, prior to doing so, the Trustee is required to inform you of the following:

• the Superannuation Industry (Supervision) Act 1993 permits us to collect your TFN

• your TFN is confidential and

• if you do provide your TFN, it will only be used for legal purposes. These include finding or identifying your superannuation benefits where other information is insufficient, calculating tax on any superannuation payment to which you may be entitled, and providing information to the Commissioner of Taxation. These purposes may change in the future as a result of legislative changes.

However, we may provide your TFN to:

• the Trustee of any other superannuation fund, rollover fund or Retirement Saving Account (RSA) to which your benefits are transferred in the future (unless you instruct us in writing not to do so) and

• the Commissioner of Taxation.

Your TFN will not be disclosed to anyone else.

Why your Tax File Number is Important

It is not an offence if you do not provide the Trustee with your TFN. However, if you do not do so:

• tax at 46.5% will be deducted from your concessional contributions (Except where a member joined the Fund prior to 1 July 2007 and total assessable contributions for the year were less than $1,000. Tax may be refunded where a valid TFN has been quoted within 4 years of the tax being deducted.)

• the Fund will not be able to accept non-concessional contributions from you

• you may pay more tax on your benefits than you would otherwise need to (although you may be able to reclaim this through the income tax assessment process) and

• it may be more difficult to trace benefits from previous funds, to consolidate your benefits or to pay your benefits to you.

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If you provide your TFN to the Trustee within 4 years of the tax being paid, the Trustee can potentially reclaim the additional tax withheld from the Australian Taxation Office on your behalf. Please seek professional advice from your tax agent on this matter.

Cooling Off Period

Employer-Sponsored Superannuation Fund

An employer joining the Fund is entitled to a 14 day cooling off period which commences on the earlier of:

• the employers’ receipt of confirmation of its application or

• the end of the 5th day after an interest is issued (contribution made) in the Fund for the employee/s.

If written or electronic notice of cancellation of the initial application is received by the Fund Administrator within the 14 day cooling-off period, arrangements will be made to refund (to a superannuation entity or RSA which must be nominated by the employer within 1 month of the notice of cancellation) any contributions made for employee/s during this period. Repayment will take into account any change (positive or negative) in the value of the amount contributed. As a result, the amount transferred to another superannuation entity or RSA may be less than the amount invested. We may also deduct any tax or duty as well as reasonable administrative and transaction costs. Any insurance cover granted to the employees will be cancelled from commencement and any premiums deducted will be refunded to the member/s account/s. This means that no insurance claims will be paid in respect of affected employees if the employer’s cooling off rights are exercised.

If the employee’s member account with the Fund consists of any contributions made by the employee or Preserved or Restricted Non-Preserved amounts rolled over from another fund, the employee must nominate another superannuation entity or RSA to which these amounts are to be transferred. The employee must do this within 1 month after the employer notifies the Trustee of its wish to exercise its cooling off rights.

If the nominated superannuation entity or RSA does not accept the nomination, the Trustee may transfer the superannuation benefits to an ERF (refer to page 28 for more information on transfers to the ERF). Cooling off does not apply to contributions made after the cooling off period ends nor for any Employer-Sponsored members who join the Fund after the cooling off period.


Immediately following the date on which we notify you that your application to join the Fund has been accepted, you are entitled to a 14 day cooling off period during which you may write to the Fund Administrator and cancel your membership of the Fund. Any contributions you have made will be repaid and there will be no fees and charges incurred. The amount of repayment may be adjusted to take into account any increase or decrease in the investment value and any taxes which were payable in respect of contributions made. If any of the contributions were transferred from another superannuation fund and were subject to Preservation requirements, they cannot be repaid to you in cash. Such amounts must be transferred to another Complying Superannuation Fund, Approved Deposit Fund or Retirement Savings Account of your choice. If the nominated fund or account does not accept the transfer, the Trustee may transfer the amounts to an ERF (refer to page 28).

Keeping in Touch It is very important you advise us when you change your address details by using the Application for Membership/Change of Details form (refer to page 33 for the Employer-Sponsored Superannuation and page 35 for Personal Superannuation) or by downloading the form from the Fund’s website www.supermanagers.com.au.

Information regarding the Fund and your member account can only be sent if we have your current address. As noted on page 28, if we lose contact with you, we may transfer your benefits to the Fund’s nominated ERF.

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Lost Members A Lost Member is considered to be a member for whom the Fund has never been provided an address or where at least 1 written item of correspondence sent by, or on behalf of, the Trustee to the member’s last known address has been returned unclaimed. You may also be considered Lost if you have been a member of the Fund for more than 2 years and the Fund has not received a contribution or rollover request for a period of 5 years.

A member account which has been determined to be Lost will be transferred to an Eligible Rollover Fund (ERF). If your benefit is transferred to the ERF, you will cease to have any entitlements in the Fund which includes cessation of your insurance cover. Further information on ERF’s is detailed below.

The Trustee is also required to transfer Lost Member benefits to the ATO if the account balance is less than $200 or member accounts have been inactive for 5 years and there is insufficient records to identify the account holder. The ATO can be contacted by calling 13 10 20.

Eligible Rollover Fund (ERF) An ERF is a special superannuation fund which protects the value of its’ members benefits against the effect of fees and charges. However, an ERF is not considered to be a suitable investment option for superannuation benefits, as generally, they have more conservative investments which may only earn a low rate of interest.

In order to claim your benefit, you will need to contact the nominated ERF for the Fund whose details appear below:

Customer Service Officer SuperTrace Eligible Rollover Fund Locked Bag 5429 Parramatta NSW 2124 Telephone 1300 788 750 Website: www.supertrace.com.au

However, as the Fund is required by law to report Lost members to the ATO twice a year, your benefit may have been transferred to the ATO and can be recovered at anytime by contacting the ATO on 13 10 20, or visiting the ATO’s website www.ato.gov.au/super and using the online tool to confirm if a lost balance has been reported.

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Unclaimed Money Your benefit will be unclaimed money if:

• you have reached age 65

• you are eligible for payment of your benefit

• your member account has been inactive for at least 2 years and

• we have been unable to locate you for a period of 5 years.

Currently, the Trustee must pay unclaimed money to the Australian Taxation Office (“the ATO”). After payment to the ATO, you must apply to the ATO to claim your entitlement, as the Trustee is discharged from any further liability for payments of the benefit.

Family Law and Superannuation The Family Law legislation allows couples (including, in most Australian States and Territories, de facto and same sex couples) to split superannuation benefits in the event of a relationship breakdown. The benefits may be split by formal agreement or by a Court Order. The legislation also allows for eligible people to obtain information about your benefits for Family Law purposes and the Fund is not permitted to advise you if such a request is received.

In the event that your benefit is subject to a Family Law split, your former Spouse’s entitlement will be transferred to another regulated superannuation fund and your member account will be reduced by the amount of that entitlement. Fees apply for splitting benefits and for requests for information about benefits for Family Law purposes. Refer to Part 2 for information on these fees. We recommend that you seek professional advice from your legal adviser as to the consequences of separation or divorce on your superannuation.

Policy Committees (Employer-Sponsored Superannuation only)A Policy Committee is an advisory body which provides members with an avenue to enquire about all functions of the Fund and to make suggestions about its management. However, the ultimate responsibility for the Fund rests with the Trustee. It is a legislative requirement that, if a superannuation sub-fund has more than 49 members, all reasonable steps must be taken to establish a Policy Committee consisting of equal numbers of employer and employee representatives. (Sub-funds that have between 5 and 49 members must also establish a Policy Committee but only if a formal request is received in writing from 5 or more members).

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Enquiries and Complaints – What to do if you have a complaint The Fund provides an enquiry and complaints service for members. Through this service, you may make a general enquiry about your superannuation benefits or the operation of the Fund as it relates to you, or make a complaint if you are dissatisfied about some aspect of your membership or benefits.

Any enquiries or complaints should be addressed in the first instance to:

The Enquiries Officer SMA Super Pty Ltd Level 16, 114 William Street Melbourne VIC 3000 Telephone: (03) 9602 3848 Fax: (03) 9602 3554

Under Federal superannuation legislation, the Trustee has 90 days in which to respond to a complaint. However, a response will generally be given within 30 days.

The Trustee endeavours to resolve all complaints through the internal complaints process. However, if your complaint is not resolved to your satisfaction by the Fund’s internal procedures you may have a right to lodge a complaint with the Superannuation Complaints Tribunal (SCT).

The SCT is an independent body established by the Federal Government to provide a simple and inexpensive review mechanism for complaints about the decisions of superannuation fund trustees affecting individual members (as opposed to trustee decisions relating to the management of the Fund as a whole).

If the SCT accepts your complaint, it will attempt to resolve the matter through conciliation, which involves assisting you and the Trustee to come to a mutual agreement. If conciliation is unsuccessful the complaint will be referred to the SCT for a determination that is binding.

Importantly, before you can lodge a complaint with the SCT you must first go through the Fund’s internal complaints process. You can contact the SCT by:

• telephone - 1300 884 114 (for the cost of a local phone call, excluding mobiles)

• fax - (03) 8635 5588

• by writing to Superannuation Complaints Tribunal, Locked Bag 3060, GPO Melbourne, VIC, 3001

• by email - [email protected].

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GlossaryAllocated Pension An account in which superannuation monies may be invested as a lump sum, from which a regular amount is paid each year. The amount and frequency of payment may be altered each year, but must remain between minimum and maximum levels set by the Government.

Australian Prudential Regulation Authority (APRA) The Commonwealth prudential regulator of the financial services industry. It is charged with ensuring the safety and good management of particular financial institutions such as banks, life offices, general Insurers, credit unions, friendly societies, and superannuation funds.

Australian Securities and Investments Commission (ASIC) This Commonwealth organisation has wide consumer protection powers that extend to superannuation. ASIC supervises dispute resolution, prosecutes where there is fraud against superannuation fund members, and enforces legislation designed to provide adequate information for members. Major activities include supervision of financial markets and corporate entities.

Choice of Fund A fund that an employee may nominate in writing on a Standard Choice form to their employer. It is the fund that the employee requests their Superannuation Guarantee (SG) contributions be paid to.

Complying Superannuation Fund A resident superannuation fund that qualifies for concessional tax treatment. Only a regulated superannuation fund that meets operational standards can be a complying fund. Superannuation Guarantee contributions must be paid into a complying fund. Benefits in a complying fund, if rolled over, must only be rolled into another complying fund.

Conditions of Release The various means by which it is possible for a superannuation member to access preserved superannuation benefits in cash. Refer to page 10 for more information about the conditions of release.

Dependant The Dependants of a member for superannuation purposes are:

• the member’s Spouse – which includes a legally married or de facto Spouse of either sex;

• the member’s children of any age – which includes step children and adopted children and the children of the member’s Spouse;

• any other person who is wholly or partially financially dependent on the member or who has a legal right to look to the member for support; and

• any other person who, in the opinion of the Trustee, is in an interdependency relationship (refer to definition) with the member.

Diversification The extent to which investments are spread across a number of asset classes (such as Shares, Property and Fixed Interest) or spread across different investments within an asset class.

Eligible Rollover Fund (ERF) A superannuation fund that is set up to receive benefits rolled over from other funds. ERF’s are required to provide member benefit protection. ERF’s accept inactive small accounts, lost member accounts, and benefit payments where a member fails to respond to requests to provide payment instructions.

Indirect Cost Ratio (ICR) The ratio of a fund’s management costs that are not deducted directly from a member’s or a product holder’s account to the fund’s total average net assets. It is the fee charged by an investment manager to manage an investment fund, usually structured as a percentage of fund assets. It covers investment, remuneration, administration expenses and transaction costs of the investment manager.

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Interdependency Relationship An interdependency relationship is defined as a close personal relationship between 2 people who reside together, where 1 or both provides the other with financial support and 1 or both provides the other with domestic support or care. Factors such as duration of the relationship, whether the relationship was publicly acknowledged and the degree of ongoing commitment to a shared life will be relevant in determining whether an interdependency relationship existed at the time of death. For example, the definition of interdependency relationships may include same sex couples, 2 siblings who reside together, or an adult who lives with an elderly parent. However, it will not generally include, for instance, people who share accommodation for convenience (e.g. flatmates), or people who provide care as part of an employment relationship. This is intended to ensure that adults who reside together and offer each other mutual support (whether or not related by family) can be recognised in the way that Spouses or dependent children are on the death of a partner or parent. The definition also includes 2 people who have a close personal relationship, but the relationship does not satisfy the residential and support requirements as either or both of them have a physical disability (this would include a person who lives in an institution).

Investment Committee Is a sub-committee formed by the Investment Manager that monitors the investment management and performance of the Fund and reports findings and makes recommendations to the Trustee.

Lost Member A person becomes a lost member when the superannuation provider has lost contact with the person or has not received a contribution or rollover from an Employer-Sponsored member within the last 5 years. However, a person would not be considered lost if the superannuation provider has no reason to believe any address held is incorrect or the member indicated or notified the superannuation provider of their existence. Lost accounts of $1000 or less must be member-protected or else rolled over into a fund which accepts such rollovers and does member-protect, such as an Eligible Rollover Fund (ERF).

Mandated Employer Contributions Employer Contributions made in satisfaction of the Superannuation Guarantee legislation and Employer Contributions made in satisfaction of an employer’s obligations under an agreement certified, or an award made, on or after 1 July 1986 by an industrial authority.

Master Fund (also known as master trust) A trust or fund which allows a large number of unconnected individuals and/or companies to operate their superannuation arrangements under a single common trust deed.

Permanent Incapacity If a member has ceased to be gainfully employed due to ill-health (whether physical or mental), where the trustee is reasonably satisfied that the member is unlikely, because of the ill-health, ever again to engage in gainful employment for which the member is reasonably qualified by education, training or experience. Permanent Incapacity is a Condition of Release (refer to above).

Preservation The regulatory requirement that certain superannuation benefits be maintained in a superannuation entity for retirement purposes or until an earlier Condition of Release (refer to above) is satisfied. From 1 July 1999, all contributions made by or on behalf of members are preserved on entry. All earnings from that date are also preserved.

Preservation Age Your preservation age is dependent upon your date of birth, according to the following table:

Date Of Birth Preservation Age

Before July 1960 55

1 July 1960 to 30 June 1961 56

1 July 1961 to 30 June 1962 57

1 July 1962 to 30 June 1963 58

1 July 1963 to 30 June 1964 59

After 30 June 1964 60

Retirement Savings Account (RSA) A superannuation product that is provided by banks, building societies, credit unions, life insurance companies or prescribed financial institutions. RSAs must be capital guaranteed, cannot have negative earnings and must be fully portable.

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Salary Sacrifice An arrangement between an employer and an employee that involves the employee sacrificing a part of his/her pre-tax salary in exchange for having the employer make additional superannuation contributions to your member account. The contributions count as employer contributions for the purpose of the Superannuation Guarantee legislation and are classified as Concessional contributions when received by the fund.

SIS The Superannuation Industry (Supervision) Act 1993 and regulations made under it. This is the principal legislation governing the operation of superannuation entities.

Spouse in relation to a person, includes another person who, although not legally married to the person, lives with the person on a genuine domestic basis in a relationship as a couple. It includes both married and de facto couples, including same sex couples.

Standard Employer-Sponsor An employer who contributes, or would contribute, wholly or partly to the Fund pursuant to an arrangement between the employer and the Trustee of the Fund.

Superannuation Complaints Tribunal (SCT) An independent statutory body established by the Federal Government to deal with complaints about decisions of superannuation fund trustees affecting the rights and benefits of individual members and beneficiaries. Matters are heard by the SCT only if they cannot be resolved through the fund’s internal dispute resolutions procedure. The SCT may review and alter a trustee’s decision.

Superannuation Guarantee (SG) Legislation that requires employers to provide a minimum level of superannuation contributions for most employees.

Terminal Medical Condition A Member has a terminal medical condition at a particular time if 2 registered medical practitioners (1 of whom is a specialist in an area relating to the Member’s Injury or Illness) have certified, jointly or separately, that the Member has an Injury or Illness that is likely to result in the Member’s death within 12 months of the date of the certification. The Member will not meet the conditions for a terminal medical condition if it is more than 12 months since the date of the certification.

Total and Permanent Disablement Means the definition that is set out in Part 2 of the PDS (which generally will be the definition under the insurance policy at the relevant time).

Trust Deed The Trust Deed is the principal governing rules of the Fund.

Volatility The extent to which share prices, bond prices, interest rates, investment returns, etc., change from their trend growth rate over time. Volatility is a commonly used way of measuring the risk of an asset, on the basis that the more volatile an investment, the greater the chance that the actual return will be different to the expected return and therefore the higher the risk.

If there are other superannuation terms you need clarified, you may be assisted by a dictionary of superannuation terminology provided by the Association of Superannuation Funds of Australia (ASFA) at the website: www.superannuation.asn.au/Online-Dictionary/default.aspx

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35

SUPER

Certificate of Compliance

ENTERPRISE SUPER

We confirm on behalf of the Trustee of Enterprise Super that the Fund:

• has been established and is administered in compliance with the requirements of the Superannuation Industry (Supervision) Act 1993 and accompanying regulations

• satisfies the requirements and operational standards as detailed in the legislation and regulations

• is able to accept transfers from other funds

• is not authorised to make loans to members

• Trustee undertakes to preserve any benefits required to be preserved according to the preservation requirements of the regulations.

Enterprise Super is a division of the General Retirement Plan.

We confirm that the Australian Business Number (ABN) of the General Retirement Plan is 32 894 907 884, the Superannuation Fund Number (SFN) is 1488/129/49 and the Registrable Superannuation Entity (RSE) No is R1000146.

If you have any queries please contact the Fund Administrator on (03) 9602 3848.

SMA Super Pty Ltd

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MANAGERSSUPER

Prepared by the Fund Administrator

SMA Super Pty Ltd ABN 74 006 877 872 AFSL No. 246883

Level 16, 114 William Street, Melbourne, Victoria 3000

Telephone (03) 9602 3848 Facsimile (03) 9602 3554

Toll free 1800 816 575

Website: www.supermanagers.com.au

ENTERPRISE SUPER

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