corporate super – employer guidecorporate super – employer guide product disclosure statement...

Corporate Super – Employer Guide Product Disclosure Statement

Please read this document before making a decision to invest.

TrustAon Master Trust ABN 68 964 712 340RSE R1000566Phone: 1300 880 588 Fax: 1800 010 435Email: [email protected] Web: www.aonmastertrust.com.au

TrusteeAon Superannuation Pty Limited ABN 83 057 982 822AFSL 237465RSE L0000437

Date issued: 1 January 2007

Master Trust

Xavax Pty LtdAFSL 281568

PO Box A2202Sydney South NSW 1235

Phone: 1300721038Email: [email protected]: www.xavax.com.au

2

The Aon Master Trust 3

About this PDS 3

Summary of features 4

Superannuation made simple 6

Services for employers 7

Benefits for your employees 8

Employer contributions made easy 9

my ebenefits program 10

Contributions 11

The nuts and bolts of investing 12

Investment options summary 14

Investment options 15

Insurance options 28

Tax and super 34

Fees and other costs 36

When your employees leave 40

Other important information 42

Customised super solutions 44

What to do next 44

Application agreement form 45

Customised super application agreement form 49

Employer forms are available from www.aonmastertrust.com.au

Contents

Fees and conditions in this Product Disclosure Statement (PDS) apply to employers who join the Trust on or after 1 January 2007. Terms and conditions will change over time and we will notify you of material changes. Existing employers’ fees and conditions are as notified.

The trustee reserves the right to correct any omissions in this PDS. If there is a discrepancy between this PDS and the trust deed, the trust deed will be the final authority.

The information in this document is general in nature. Your personal objectives, needs or general situations were not taken into account when preparing this information.

You should consider the appropriateness of any general advice before acting on it, having regard to your own objectives, financial situation and needs. If the information relates to a financial product, you should obtain and consider the relevant Product Disclosure Statement before making any decision to purchase that financial product.

This document has been prepared by Aon Consulting Pty Limited (AFSL 236667) a related body corporate of the trustee of the Aon Master Trust (RSE R1000566), Aon Superannuation Pty Limited (AFSL 237465, RSE L0000437). This is a relationship that might reasonably be expected to be capable of influencing Aon Consulting Pty Limited when the company provides financial product advice to clients in respect of the Aon Master Trust.

3Master Trust

About this PDS

This Product Disclosure Statement (PDS) describes the main features of the Aon Master Trust for Corporate Super employers. It will help you compare the Aon Master Trust’s services with other superannuation funds. Additional information is available if required – see Other information on request on page 42.

The Aon Master Trust also offers Personal Super (for organisations with nine employees or less) and an Allocated Pension option for those wanting to purchase an income stream. Contact us for more information.

If you (the employer) are not a financial services licensee or an authorised representative of a financial services licensee, you must not give financial product advice about the Trust or recommend a superannuation product.

Employers may have cooling-off rights in respect of an application to participate in the Aon Master Trust. The right must be exercised by notifying the trustee within 14 days from the date of confirmation of the transaction or 19 days from the date of issue. This right does not apply in the case of a ‘successor fund’ transfer.

Our formal complaints resolution procedure is described on page 43.

Product ratings Aon Master Trust Corporate Super has been awarded a 5 star rating for 2006 by The Heron Partnership (for more information on the rating system used and to view the Heron Financial Services Guide for Superannuation Ratings see www.heronpartners.com.au) and a Platinum Rating for 2006/07 by SuperRatings (for more information on the rating system used, see www.superratings.com.au). References to The Heron Partnership and SuperRatings in this PDS have been authorised by the trademark holders.

The analysis and information upon which ratings are based is considered accurate at the time a particular product is rated. However, ratings agencies give no guarantee or warranty and make no representation as to the product or accuracy of the third party information provided to them. Ratings are produced without taking into account any individual’s financial needs, circumstances and objectives – any person should assess the appropriateness of the advice in regard to their own financial situation and consult a licensed financial adviser.

The Aon Master Trust

Superannuation is a long-term investment for

life after work. The Aon Master Trust offers

investment and insurance options to suit your

employees’ needs.

The Aon Master Trust is a registered superannuation fund which invests for the benefit of members. The Trust currently has over $1.5 billion in assets, over 60,000 members, and over 600 participating employers.

Aon Master Trust accumulation superannuation accounts work similarly to bank savings accounts – money goes in (employer contributions, interest and additional contributions as applicable) and money comes out (insurance costs, taxes and fees as applicable). Defined benefit superannuation accounts work differently – contact us for more information.

No company or party associated with the Aon Master Trust guarantees any obligations of the Trust, including investment returns. Members bear all investment risk for accumulation superannuation plans, and members who leave the Trust may get back less than the amount of contributions paid due to taxes, investment returns and fees.

Past earning rates shown in this document are not an indicator of future earning rates.

The Aon Master Trust is managed by Aon Superannuation Pty Limited (ABN 83 057 982 822, AFS Licence 237465, RSE Licence L0000437) an approved trustee regulated by the Australian Prudential Regulation Authority (APRA). Aon Superannuation Pty Limited (‘the trustee’) is a wholly owned subsidiary of Aon Consulting Pty Limited, part of the Aon group of companies.

AIG Life has agreed to this PDS containing information about AIG Life in the Insurance section on pages 28 to 33. AIG Life has not issued this PDS and has not approved any statements in this PDS that do not refer to AIG Life.

4

Summary of features

Who is this product for?

The Aon Master Trust’s Corporate Super option is for organisations with 10 employees or more.

The Standard Corporate Super options shown in this document can be customised at cost for large employers or those requiring defined benefit solutions – see page 44 or call us for more information.

The Aon Master Trust can accept the following contributions on behalf of members:

• employer contributions, including superannuation guarantee (SG) contributions

• personal contributions

• super benefits rolled over from other funds

• government co-contributions

• all eligible termination payments, including spouse splits

• spouse contributions.

Members’ spouses can join the Aon Master Trust as well.

Investment options

You can nominate a default investment option. Your employees can choose investment options that suit them.

Flexible investmentsThere are over 40 options to choose from, arranged in three categories – see pages 15 to 27.

• Tier 1 Pre-mixed options

• Tier 2 Sector options

• Tier 3 Specialist options

Insurance options

You can nominate a default level of insurance. Your employees can choose the type and level of insurance that suits them.

Flexible insuranceChoose from three types of insurance cover – see pages 28 to 33.

• Death-only

• Death and total and permanent disablement

• Salary continuance

5Master Trust

Fees summary

Compare our value with other super fundsEstablishment fee None

Contribution/transfer fee None

Switching fee None

Member fee $60 pa

Asset administration fees Up to 1.1% pa, as negotiated with you or your financial adviser, if applicable.

Management fee Between 0.45% and 2.79% pa, depending on investment option chosen.

Withdrawal fee $80.

Adviser service fee Up to 2% pa or up to $10,000 pa, as negotiated with members’ financial advisers, if applicable.

See Fees and other costs on page 36.

Other services

Consolidating superEmployees can roll their super into one account and may save on fees.

Boosting balancesEmployees can make additional contributions to their super by sending us a completed Lump sum contribution form.

Changing detailsEmployees can make changes to their investment options, by visiting our website or sending us a completed Change member details and options form.

Spouses can join tooMembers’ spouses can join the Aon Master Trust (see page 43). They should read the Personal Super PDS available from our website and send us a completed Personal Super member application form.

Financial planning services

For details of a qualified financial adviser, you and your employees can call us on 1300 880 588.

More information

More information is available on our website: www.aonmastertrust.com.au

Forms for membership enrolments, change of details, contributions, spouse membership, super rollovers and more are available from our website.

Employers can log onto their account details once access to Aon’s online services has been established (see page 9).

Members can log onto their personal account (password required) and make changes to personal and investment details at any time.

Call 1300 880 588 Our contact centre is open Monday to Friday, 7am to 7pm Eastern Standard Time (excluding public holidays).

6

The Aon Master Trust is a flexible, cost-effective public offer superannuation fund designed to meet the superannuation needs of employers, employees and the self-employed. The Trust provides access to simple, cost-effective services for employers and retirement benefits and related services for members and their dependants.

The main features of the Trust include:

• online services that make superannuation benefits administration easy for employers

• access to my ebenefits services for employees

• employers and individuals can make superannuation contributions

• members have a choice of over 40 investment options

• members have a choice of the level of death, disablement and salary continuance insurance

• benefits can be rolled over from other superannuation funds

• benefits may be transferred to the Aon Master Trust Allocated Pension on retirement.

The Aon Master Trust is a complying regulated fund according to the Superannuation Industry (Supervision) Act 1993. Being a complying fund allows us to accept Superannuation Guarantee (SG) contributions and rollovers from other complying funds. Concessional tax treatment also applies to the Trust.

Independent investment and insurance optionsAon Consulting is not an investment management or life insurance company. We have the freedom to place our investments and insurance with managers and insurance companies that satisfy our high standards of performance, efficiency and service.

Superannuation made simple

Easy data managementOur payroll interface software allows us to transfer contribution data from your payroll system to our superannuation administration system. It allows details of new members and terminations to be transferred electronically and can work with any payroll or spreadsheet system. It requires no changes to the system used by your pay centre. See page 9 for more information.

A global company with worldwide resourcesThe Trust is managed by Aon Superannuation Pty Limited, an approved trustee regulated by the Australian Prudential Regulation Authority (APRA). Aon Superannuation Pty Limited (‘the trustee’) is a wholly-owned subsidiary of Aon Consulting Pty Limited, part of the Aon group of companies. Aon Consulting provides services around the world in the areas of insurance, retirement benefits and human resources.

Aon’s support services are delivered by consulting professionals and specialists dedicated to servicing clients’ needs. Our international experience and capability means we can provides timely research and advice to our Australian clients. When you join the Aon Master Trust you and your employees receive the best of Aon’s human, financial and technological resources.

AonPayroll system Admin systemrecords

reconciliation & validation process

error reports to pay centre

update admin system with error corrections

7Master Trust

Administration servicesWhen you join the Aon Master Trust as a participating employer, your client relationship manager and, if required, a specialist transition team can coordinate the transfer of data from a previous super plan. If you have any questions about the Aon Master Trust or superannuation in general, contact your client relationship manager for assistance.

Superannuation statements, newsletters, annual reports and online services access information (see page 10) will be delivered to each member’s home address on your behalf – just provide us with contact details, and we’ll do the rest.

Consulting servicesYour client relationship manager can provide the following services at no cost:

• assist in up to two policy committee meetings per year

• where requested, present the investment options and structure of your plan to members at your workplace through introductory and ongoing annual information sessions

• answer technical questions on the Aon Master Trust or on super in general.

Consultants are also available to complete any assignments agreed with the employer on a time-cost basis.

Policy committeesIf you have 50 or more employees in the Aon Master Trust, the Trustee is required to set up a policy committee for your employees. If you have fewer than 50 members, a policy committee is only required at the request of at least five members.

Services for employers

Aon Consulting will keep in regular contact with your policy committee, or the employer if a policy committee is not established.

Your client relationship manager or the client service associate can attend meetings of the policy committee to discuss the following agenda items:

• investment update

• administration update

• developments in superannuation

• developments within the Aon Master Trust

• other issues affecting the employers, the policy committee and members.

Financial planning servicesIf your employees require individual financial advice, we can arrange a consultation with a licensed financial planner. If a financial plan is required, our licensed financial planners* can develop a plan at a cost negotiated with the member, reflecting the level of advice required.

Annual member information sessionsAon Consulting can arrange information sessions to explain superannuation, investment performance and other relevant information for members. Please contact us for more information.

Annual information sessions can include financial planning information for members. These sessions typically run for around an hour. If you want to offer your employees more detailed financial education or advice (eg seminars covering tax and social security, or pre-retirement counselling) we can also provide services at a negotiated cost.

* Financial planning services are provided by Aon Wealth Management Limited (AFSL 239187) and Aon Financial Planning & Protection (AFSL 239183).

8

Competitive fees and insurance premiumsThe Aon Master Trust has a competitive fee structure. Employers can negotiate employees’ fees and options – see Fees and other costs on page 36.

Every three years, we review the competitiveness of premium rates and terms and conditions offered by the group insurance policy taken out by the trustee. Employees with 10 or more employees gain the advantages of group insurance premiums with automatic acceptance levels for members joining the Trust when first eligible. See pages 28 to 33 for indicative premium rate options, subject to loading depending on the characteristics of your employees and workplace.

Investment and insurance choice and flexibilityWith over 40 investment options to choose from, your employees can invest according to their needs. They can select the type and amount of insurance cover required should they become disabled or die. We can set insurance cover at a chosen level for death only, death and total and permanent disablement and/or salary continuance insurance – see pages 28 to 33.

Contributions can be made from your employees’ before or after-tax salary, regularly or for one-off contributions (eg a bonus payment). We accept spouse contributions and rollovers from other complying funds.

my ebenefitsAon’s flexible my ebenefits program offers your employees online, phone and email support for financial, health and lifestyle service providers at no additional cost. For more information, see page 10.

Benefits for your employees

Benefits on leavingWhen an employee leaves your company, they have the option to keep their super benefit in the Aon Master Trust. The benefit will generally be transferred to Aon Master Trust Personal Super, where the employee can continue their insurance and investment options, subject to some changes in fees. See When your employees leave on page 40 for more information.

In summaryThe Aon Master Trust can offer your employees:

• member investment choice with over 40 options to choose from

• a range of insurance options with competitive premium rates

• my ebenefits access by phone, email or on the web (see page 10)

• personal service for employers from our client relationship managers and for members from our contact centre staff

• security – all assets are held by an independent custodian

• clear, flexible and competitive administration fees

• public offer status – members can move from employer-sponsored plans to personal plans

We aim to give you the most appropriate level of service at the right price.

9Master Trust

Aon’s online services provide a secure super contribution solution for employers to take the hassle out of superannuation administration and free up time for your payroll staff. Once online service access has been set up, making payments, adding new employees and modifying member details can all be done online.

Aon’s online services include a ‘clearing house’ that allows employers to pay all their superannuation contributions by direct debit to the Aon Master Trust or any other eligible super fund that your employees nominate.

To access Aon’s secure online service, new employers should complete and return a registration form. When your account is established, we will send your nominated employees user names and passwords which can be used to complete a Westpac PayDeduct authority form.

Once you are registered, you can start making contributions, as summarised in the diagram at right. Your payroll staff can enter your employees’ choices and other contribution data through a series of menu-driven screens. They can select from a list of complying super funds to ensure your employees’ choices are valid. The contribution file is then loaded onto Aon’s administration platform and reviewed online. Once you approve the summary report, the contributions are processed.

Contributions are managed through our streamlined ‘straight-through processing’ system. In conjunction with daily unit pricing, this means that contributions are allocated and records are updated as soon as possible on receipt via the banking system.

Aon’s secure online services give employers online access to:

• electronic funds transfer

• simplified payments via authorised direct debit

• new member additions and member record modifications, taking the hassle out of administration

• real-time validation, ensuring only valid data is transferred

Employer contributions made easy

• integration of information with our super administration system to avoid double-handling

• straight-through processing of contributions from payroll to employees’ super accounts

• superannuation fund compliance status checking

• encrypted data protection to ensure confidentiality.

Choice of fund servicesUnder our standard service terms, employers are responsible for processing any completed Choice of Fund forms. This includes checking the eligibility of chosen funds, resolving any errors or problems, updating fund choices, and maintaining compliance records.

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The Aon Master Trust can give your employees more than just online access to their superannuation information.

Aon’s my ebenefits program offers online, phone and email support for the other things in life, including health and wealth services, legal and tax advice, shopping and entertainment discounts and resources including online calculators, tip sheets and other tools.

my ebenefits is a flexible employee benefits program designed to help satisfy the work-life balance and benefit needs of your workforce. The program can help employees finance a home purchase, buy a big-screen plasma TV, send flowers or arrange the perfect holiday quickly and easily.

my ebenefits program

my ebenefits can offer your employees benefits including:

• free telephone and email-based tax and legal advice

• private health insurance

• online shopping with thousands of well-known products at wholesale prices

• full travel service

• flowers, adventure and leisure

• entertainment links

• access to financial planning

• life insurance, critical illness and income protection

• home, contents, car, travel and boat insurance

• home, investment and commercial loans.

my ebenefits referrals are free to participating Aon Master Trust employers and their employees who are members of the Trust.

Designed to assist employers to be the destination of choice for key talent, the program is adaptable for individual company requirements, including integrating company-specific benefits or packaged programs.

For more information on my ebenefits, contact your client relationship manager.

The my ebenefits home page offers password-protected access to super, health, shopping, wealth and entertainment options and more and can be customised to meet employers’ needs.

my ebenefits case studies

Shopping for a better dealAn Aon Master Trust member was looking to buy a new flat-screen television from a well-known dealer but wasn’t happy with the price. He called the my ebenefits buying service and they helped him source a better deal.

Saving money on a home loan Another member was saving to go overseas and wanted to convert his mortgage to interest only. He visited the my ebenefits site and found information on a loan product that could reduce repayments by $100 a month.

11Master Trust

The Aon Master Trust can accept contributions

from employers, members, the self-employed,

spouses and ‘rollovers’ from other

superannuation funds.

Employer contributions Under Superannuation Guarantee laws, employers must make super contributions based on a percentage of salary for most employees aged 17 to 70. This percentage is currently 9%.

Under choice of fund legislation, employers choose a ‘default fund’ but members can choose which super fund employers pay these contributions into. This is called their ‘chosen fund’.

If an employer nominates the Aon Master Trust as the default fund, but at a later stage a member’s chosen fund is not the Aon Master Trust, any existing account balance may be transferred to the Trust’s ‘retained’ category. In this category fees may change, and the member may lose any insurance cover. Contact us for more information.

After-tax personal contributionsMembers can make personal contributions if they are aged under 65. They may also make personal contributions between age 65 and 75, subject to certain conditions – contact us for details. One-off after-tax contributions can be made by completing the Lump sum contribution form and sending it to us along with a cheque.

Contributions

Before-tax (salary sacrifice) contributionsIt is possible to arrange before-tax contributions to super (also called ‘salary sacrifice’), if you, as the member’s employer, agree to make these contributions. For example, instead of receiving a bonus or a pay rise in cash, a member may choose to have the extra amount paid into super before tax is deducted. These contributions can be regular or one-off and may allow the member to pay less income tax than if they made the same amount of after-tax contributions.

Eligible spouse contributions Members can contribute to the Aon Master Trust on behalf of their spouse if the spouse is aged under 65. This could mean that as a couple they will pay less tax. The spouse must be a member or must join the Aon Master Trust – see page 43.

A spouse may also contribute to the Aon Master Trust for a member if the member is aged under 65. See Tax rebates for spouse contributions on page 35 or contact us for further details.

Rolling over money from other funds Members who have had different jobs may have money in a number of different super funds. Moving or ‘rolling over’ these balances into one account may reduce fees, paperwork and make it easier to keep track of super. To roll over balances from other funds to the Aon Master Trust, members should complete a Transfer super benefits into the Aon Master Trust form.

Limits on tax concessions There is an age-based limit to the amount employers may contribute for members at concessional tax rates. Contact us for more information. There is also a limit to the amount members can withdraw from super at concessional tax rates, known as their ‘reasonable benefit limit’ or RBL. See page 35.

12

The nuts and bolts of investing

Before looking at investment options,

here are some key investment principles.

Risk, return and asset classesA basic rule of investing is that the bigger the investment risk, the bigger the potential return over the long term. Investors typically structure investments across five asset classes. Each asset class has a different level of risk/return as outlined below:

• Shares represent part ownership of a company. Typically, all investments in this asset class are ‘listed’ shares – ie traded on stock exchanges. Owning shares can provide both capital growth and a proportion of profits, called dividends. Share prices change frequently and share investments typically offer a high level of risk and return.

• Property trusts and managed property funds invest in commercial, retail, industrial, hotel and residential real estate. Property investments offer returns based on property valuations and a rental income stream. Property trusts can either be listed (ie a security tradeable on a stock exchange) or unlisted. Property returns are cyclical and typically have a higher risk/return profile than fixed interest and cash.

• Alternative assets/market neutral funds typically include hedge funds, private equity and infrastructure. Hedge funds use specialist investment strategies to trade shares and fixed interest assets. Private equity investments are made in companies not listed on a stock exchange. Infrastructure investments include utilities and other physical assets. These funds aim to achieve positive returns in both rising and falling markets and are typically included in diversified portfolios to reduce exposure to risk over longer time frames.

• Fixed interest investments are typically a loan between a borrower and a lender. The borrower (eg a government, bank or company) promises to pay the lender specific ‘fixed’ interest payments over the term of the investment and return the initial investment at the end of the loan. Although prices for fixed interest assets vary and may occasionally be negative, they typically offer lower risk and return than property or shares.

• Cash is typically defined as short-term securities with a maturity date of less than one year. Cash investments offer a low level of risk, but are likely to provide the lowest return of all asset classes over the long term.

13Master Trust

DiversificationDiversification means spreading investments across different asset classes, managers’ products and/or investment strategies. The aim is to reduce the overall portfolio risk while enhancing investment return. A well diversified portfolio facilitates smoothing of the fluctuations in returns of particular asset classes.

A diversified investment portfolio typically falls into one of three categories:

• Growth – invests mainly in assets aiming to provide higher return, but with higher risk. Typical asset classes include shares, property and alternative assets.

• Balanced – invests in a mix of all major asset classes aiming to deliver a moderate return, with a moderate risk level.

• Defensive – invests mainly in assets aiming to provide modest return, with lower risk. Typical asset classes include fixed interest and cash. Defensive investments may also include some growth assets.

Index and active investments A major consideration when investing is how a fund manager can add value to exceed an underlying market index or benchmark.

Index fund managers seek to track the performance of a stock index. For example, an index share fund such as the SSgA Australian Equities Index Trust is designed to closely match the performance of the S&P/ASX 200 Accumulation Index for Australian shares.

Active fund managers aim to outperform their benchmark by using pro-active research, portfolio management and/or trading strategies.

Active fund managers typically charge more for taking their approach, but believe improved investment performance will justify this cost.

The Aon Master Trust offers over 40 investment options. Members can choose one option or a mix of options (a minimum 5% must be invested in any one chosen option). If the member does not choose an investment option, their superannuation will be invested in the default option selected by you as their employer – information about this option will be included in their PDS Part 2: Your Plan Outline.

14

Investment options summary

Tier 1: Pre-mixed options

Tier 2: Sector options

Managers reserve the right to close their product (either no new money or enforced reduction of assets) at any time. The trustee will inform you as soon as possible if this affects a nominated choice.

Aon Master Trust members may choose one option or a mix of options from the list below (minimum 5% per chosen option). Different choices can be made for current super balance and for future contributions. All members can log in to their account online or send us a completed Change member details and options form available from our website.

Tier 3: Specialist options

Pre-mixed Active options Page 15

Pre-mixed Index options Page 16

Sector options Page 17

Australian shares Pages 18 to 20

• Alpha Investment Mgt Australian Equity Trust

• AMP Capital Sustainable Future Australian Share Fund

• Ausbil Australian Emerging Leaders Fund

• Barclays Investment Funds – Aust. Alpha Equity Fund

• Colonial First State Wholesale Imputation Fund

• JF Capital Partners Aust. Shares Superannuation Trust

• Perpetual Wholesale Industrial Fund

• SSgA Australian Equities Index Trust

International shares Pages 20 to 21

Property Pages 21 to 22

Fixed interest Pages 22 to 23

Alternative Pages 23 to 24

Diversified Pages 24 to 26

• AMP Capital Future Directions Extended Market Int. Share Fund

• Barclays Investment Funds – International Alpha Equity Fund

• Credit Suisse Asset Management International Shares PST

• Platinum International Fund

• SSgA International Equities Index Trust

• AMP Australian Core Property Portfolio

• SSgA Australian Listed Property Index Trust

• United Funds Management – United Sector Leader Property Fund

• Macquarie Global Bond Solution

• SSgA Australian Fixed Income Index Trust

• SSgA Global Fixed Income Index Trust

• Coastal International Equity Fund

• Coastal Magnum Diversified Performance Fund

• IXIS Aurora II Australia Fund

• Warakirri Absolute Return Fund

• Barclays Superannuation Funds Diversified Growth Fund

• Barclays Superannuation Funds Diversified Stable Fund

• ING Wholesale Managed Growth Trust

• Maple-Brown Abbott PST

• MLC Aggressive Option

• MLC Assertive Option

• MLC Moderate Option

• MLC Conservative Option

• High Growth

• Balanced Growth

• Balanced

• Capital Stable

• Secure

• High Growth

• Balanced Growth

• Balanced

• Capital Stable

• Secure

• Australian shares

• International shares

• Property

• Diversified fixed interest

• Cash

Investment options

Master Trust 15

Objective

Investment strategy

Risk/return profile

Strategic asset allocation1

Australian sharesInternational sharesPropertyAlternative assetsMarket neutral assetsFixed interestCash

Annual return for the year ended2

31 Dec 200131 Dec 200231 Dec 200331 Dec 200431 Dec 20055 year compound average

Management fee3

Estimated performance fee4

Total buy/sell spread

1 Asset allocations shown are strategic benchmarks. Actual allocations may vary. 2 Returns are calculated using Aon Master Trust unit prices, after management fees and tax on investment

income, but before direct fees.3 See Management fee in the table on page 37 for details. Fees shown include GST.4 Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or

product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid.

High Growth Balanced Growth Balanced Capital Stable Secure

To provide a return at least 1% pa above Cash over rolling three-year periods.

Invests 25% of the portfolio in growth assets and 75% in defensive assets.

Relatively low but stable returns. There may be some short-term volatility.

10% 10% 5% 0% 10% 50% 15%

4.0%0.2%8.7%10.1%7.0%

5.9% pa

0.75% pa

0% to 0.15% pa

Nil

To exceed Cash over rolling three-year periods.

Invests in cash and fixed interest investments.

The most stable returns. Generally lower returns than the other options.

0% 0% 0% 0% 0% 60% 40%

4.8%6.4%6.9%6.7%3.9%

5.7% pa

0.58% pa

0% to 0.10% pa

Nil

To provide a return at least 2% pa above Cash over rolling five-year periods.


There is likely to be volatility in returns in the short term but they tend to stabilise over longer periods.

27.5% 27.5% 5% 5% 5% 25% 5%

2.8%-4.6%9.7%13.7%11.2%

6.3% pa

0.83% pa

0% to 0.25% pa

Nil



Returns are generally less volatile than the High Growth portfolio but can still be very volatile over the short to medium term.

30% 30% 5% 10% 0% 25% 0%

2.9%-7.6%9.2%13.6%12.1%

5.7% pa

0.83% pa

0% to 0.30% pa

Nil


Invests in shares, property and alternative assets.

Share market investments can be very volatile over the short to medium term but, historically, these investments have offered the highest long-term returns.

40% 40% 5% 15% 0% 0% 0%

1.8%-12.8%9.0%14.3%15.1%

4.9% pa

0.89% pa

0% to 0.35% pa

Nil

Tier 1: Pre-mixed Active options

16

Objective

Investment strategy

Risk/return profile

Strategic asset allocation1

Australian sharesInternational sharesPropertyAus. fixed interestInt. fixed interestCash


31 Dec 2005

Management fee3


1 Asset allocations shown are strategic benchmarks. Actual allocations may vary. 2 The Pre-mixed Index options were launched from 1 July 2004. Latest full year returns are shown. Returns are calculated

using Aon Master Trust unit prices, after management fees and tax on investment income, but before direct fees.

3 See Management fee in the table on page 37 for details. Fees shown include GST.

Tier 1: Pre-mixed Index options

High Growth Balanced Growth Balanced Capital Stable Secure

To achieve net asset weighted benchmark returns over rolling three-year periods.


Relatively low but stable returns. There may be some short-term volatility.

10% 10% 5% 30% 30% 15%

8.3%

0.46% pa

Nil

To achieve net asset weighted benchmark returns over rolling three-year periods.

Invests in cash and fixed interest investments.

The most stable returns. Generally lower returns than the other options.

0% 0% 0% 30% 30% 40%

5.0%

0.46% pa

Nil

To achieve net asset weighted benchmark returns over rolling five-year periods.


There is likely to be volatility in returns in the short term but they tend to stabilise over longer periods.

30% 30% 5% 15% 15% 5%

13.7%

0.46% pa

Nil



Returns are generally less volatile than the High Growth portfolio but can still be very volatile over the short to medium term.

35% 35% 5% 12.5% 12.5% 0%

15.6%

0.46% pa

Nil


Invests in share index funds.

Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns.

50% 50% 0% 0% 0% 0%

19.8%

0.46% pa

Nil

17Master Trust

Objective

Benchmark index

Investment strategy

Risk/return profile

Benchmark asset allocation


31 Dec 200231 Dec 200331 Dec 200431 Dec 20054 year compound average

Management fee2

Estimated performance fee3


1 The Sector options were launched on 1 July 2001. Later full year returns are shown. Returns are calculated using Aon Master Trust unit prices, after management fees and tax on investment income, but before direct fees.

2 See Management fee in the table on page 37 for details. Fees shown include GST.3 Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or

product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid.

Tier 2: Sector options

Australian shares International shares Property Diversified fixed interest Cash

To provide a return that exceeds the benchmark index by 1% pa over rolling three-year periods.

75% UBS Australian Composite Bond Index 0+Yr 25% Citigroup WGBI Hedged (AUD)

Invests in fixed interest assets across the credit spectrum.

Relatively low but stable returns with some volatility.

100% fixed interest securities

8.3%8.7%7.8%4.3% 7.3% pa

0.66% pa

0% to 0.30% pa

Nil

To provide a return that matches or exceeds the benchmark index over any 12-month period.

UBS Warburg Australia Bank Bill Index

Invests in short-term securities.

Low but stable returns with minimal volatility.

100% cash and short-term fixed interest securities

2.9%3.9%5.0%4.7% 4.1% pa

0.46% pa

Nil

Nil

To provide a return that exceeds the benchmark index by 0.25% pa over rolling five-year periods.

S&P/ASX 200 – Property Trusts (GICS) Accumulation Index

Invests in property securities listed, or due to be listed, on the Australian Stock Exchange, and direct property holdings.

Returns can be volatile over the short to medium term. Historically, property has produced higher returns than fixed interest and cash investments.

100% property securities and direct property

8.2%2.8%15.1%8.4% 8.5% pa

0.68% pa

Nil

Nil

To provide a return that exceeds the benchmark index by 1.5% pa over rolling five-year periods.

MSCI World ex Aust Net (AUD) unhedged

Invests in shares listed on stockmarkets around the world. Low or no Australian dollar hedging.


100% international shares

-22.0%4.0%9.4%12.8% 0.0% pa

0.90% pa

0% to 0.50% pa

Nil

To provide a return that exceeds the benchmark index by 2% pa over rolling five-year periods.

S&P/ASX 200 Accumulation Index

Invests in shares listed on the Australian Stock Exchange.


100% Australian shares

-9.1%13.6%26.1%18.6% 11.5% pa

0.86% pa

0% to 0.45% pa

Nil

18

Objective

Benchmark index

Investment strategy

Risk/return profile

Benchmark asset allocation1


31 Dec 200231 Dec 200331 Dec 200431 Dec 2005

Management fee3

Performance fee4


1 Asset allocations shown are strategic benchmarks. Actual allocations may vary. 2 Specialist options were launched between 1 July 2001 and 1 July 2006. Latest full year returns are shown. Returns are

calculated using Aon Master Trust unit prices, after management fees and tax on investment income, but before direct fees.3 See Management fee in the table on page 37 for details. Fees shown include GST.4 Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is

a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid.

Tier 3: Specialist options

Alpha Investment Management Australian Equity Trust

AMP Capital Sustainable Future Australian Share Fund4

To provide a total return, after costs and before tax, that is higher than the return from the benchmark on a rolling three-year basis.


Invests in companies within ‘industries of the future’ which are providing solutions to social and environmental challenges, as well as ‘leaders within traditional sectors’ that exhibit high levels of corporate social responsibility.



-7.3%13.5%25.3%16.3%

1.0459% pa

Nil

0.5%

To outperform the S&P/ASX200 Accumulation Index by 3% pa over a rolling three-year period.


Holds 25 to 40 ordinary or preference shares of a diversified portfolio of companies and property trusts which are listed or soon to be listed on the Australian Stock Exchange.



-3.9%12.0%22.9%18.8%

1.10% pa

Nil

0.5%

Ausbil Australian Emerging Leaders Fund

To outperform its benchmark by 3% pa over a rolling three year period.

70% S&P/ASX Midcap 50 Index. 30% S&P/ASX Small Ordinaries Accumulation Index

Invests to obtain a wide range of assets primarily chosen from the S&P/ASX 300 Index, but generally exclude securities from the S&P/ASX 50 Leaders Index. Invests in both mid and small cap stocks with potential for superior growth over the coming 12 month period.

Seeks to meet investment objective at levels of risk (as measured by tracking error) of no greater than 6% pa, and consistently between 4.5 and 5.5% pa.


N/AN/AN/AN/A

1.18% pa

15% of any benchmark outperformance

0.6%

Australian shares

Master Trust 19

JF Capital Partners Aust. Shares Superannuation Trust

To provide capital growth, targeting a return of 2.5% to 5.0% above the return from the S&P/ASX 300 Accumulation Index over a period of three to five years.


Invests in shares of listed Australian companies that they believe are strategically sound and attractively priced.



-13.9%12.4%28.3%25.4%

0.766% pa

Nil

0.5%

To provide investors with long-term capital growth and income through investment in quality Australian industrial shares.

S&P/ASX 300 Industrials Accumulation Index

Holds a diversified portfolio of Australian industrial shares listed on the Australian Stock Exchange and some exposure to cash (up to 10% at any time).


90–100% Australian shares0–10% cash

-4.9%14.0%28.1%11.2%

1.249% pa

Nil

0.4%

Perpetual Wholesale Industrial Fund

Colonial First State Wholesale Imputation Fund

To provide long-term capital growth with some tax-effective income by investing in a broad selection of companies listed on the Australian Stock Exchange.


Holds a diversified portfolio of Australian shares listed on the Australian Stock Exchange with some exposure to cash (up to 10%).


90–100% Australian shares 0–10% cash

-9.8%9.9%22.9%19.9%

1.29% pa

Nil

0.4%

Barclays Investment Funds Aust. Alpha Equity Fund

To provide returns that exceed the S&P/ASX300 Accumulation Index over rolling three-year periods.


This fund is designed to be a highly diversified equity strategy providing broad exposure to the Australian equity market.

Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. The fund aims to maintain a similar level of benchmark investment risk as the Index.


N/AN/A23.6%19.5%

0.848% pa

Nil

0.6%

20

Objective

Benchmark index

Investment strategy

Risk/return profile

Benchmark assetallocation1


31 Dec 200231 Dec 200331 Dec 200431 Dec 2005

Management fee3

Performance fee4





AMP Capital Future Directions Extended Markets Int. Share Fund

Barclays Investment Funds – International Alpha Equity Fund

To provide returns that exceed those of the MSCI World ex Australia Index over rolling three-year periods.

MSCI World ex Australia Index (unhedged AUD, net dividend reinvested)

This fund is designed to be a highly diversified international equity strategy providing broad exposure to the world (ex Australia) equity markets.



N/AN/AN/AN/A

0.814% pa

Nil

0.6%

To provide high returns over the long term while accepting high levels of volatility. We aim to provide a total return, after costs and before tax, higher than the return from the benchmark on a rolling 12-month basis.

Benchmark weighted return of the Citigroup Extended Markets Index and the MSCI Emerging Market Free Float Index

Managed using a multi-manager style with passive re-weighting to the benchmark asset mix (ie no active or significant positions away from the benchmark).



N/AN/AN/AN/A

1.455% pa

Nil

0.8%

To provide a return that closely matches the benchmark return before fees.


The fund strategy is to fully replicate the benchmark holdings in order to closely match the benchmark return and risk characteristics.

High


N/AN/AN/A21.4%

0.45% pa

Nil

0.2%

SSgA Australian Equities Index Trust

International sharesTier 3: (continued) Specialist options Australian shares

Master Trust 21

Credit Suisse Asset Management International Shares PST

To provide exposure to primarily international shares with potential to achieve a high level of investment growth over the long term with the benefit of exposure to world growth opportunities.

MSCI World (ex Aust) Index

To invest in a range of quality international share investments with a wide geographic spread and actively manage currency risk to add additional value. A maximum of 50% of the fund may be hedged at any time.

High

90–100% international shares0–10% cash

-13.3%-0.9%5.6%15.2%

1.25% pa

Nil

0.4%

Platinum International Fund

SSgA International Equities Index Trust

To provide capital growth over the long term through searching out undervalued listed and unlisted investments around the world.

N/A

The fund invests primarily in securities listed on share markets around the world. The portfolio ideally will consist of around 100 to 200 stocks that the manager believes to be undervalued by the market. Where undervalued stocks cannot be found funds may be invested in cash. The manager may short sell shares that it considers to be overvalued. Typically the portfolio will have 50% or more net exposure to stocks. Currency is actively managed.


0–100% international shares0–100% cash

-4.2%14.7%8.7%17.2%

1.87% pa

Nil

0.5%




High


N/AN/AN/A18.8%

0.47% pa

Nil

0.55%

To outperform the benchmark on a rolling three-year basis.

10-year bond yield + 3%

Invests in high quality Australian property.

Medium to higher level of risk.

100% direct property

N/AN/AN/A6.6%

1.029% pa

Nil

4.0%

AMP Australian Core Property Portfolio

Property

22

Objective

Benchmark index

Investment strategy

Risk/return profile



31 Dec 200231 Dec 200331 Dec 200431 Dec 2005

Management fee3

Performance fee4


United Funds Mgmt – United Sector Leader Property Fund

Macquarie Global Bond Solution

Aims to outperform the UBS Australian Composite Bond Index over the medium term (before fees) by using an active investment strategy.

UBS Australian Composite Bond Index

Uses various managers to manage those assets where they have demonstrated expertise.

Relatively low but stable returns with some volatility.

100% local and international fixed interest securities

6.7%9.1%7.2%5.2%

0.66% pa

10.25% of the return over the structured benchmark after taking into account management fees and performance fees of underlying managers

0.18%

Property

To provide investors with a total investment return that is at least equal to the rate of increase of the S&P/ASX300 Property Trust Accumulation Index over rolling periods of five years or longer.

S&P/ASX300 Property Trust Accumulation Index

The Fund adopts the multi-manager sector specialist investment approach by out-sourcing the security selection function to a range of high quality investment managers with specific skills and expertise at managing investments within a specific investment class. It aims to achieve a style neutral portfolio, which can provide superior returns more consistently than any single manager.

Returns can be very volatile over the short to medium term.

100% Listed Property

N/AN/AN/AN/A

1.13% pa

Nil

0.5%

Fixed Interest




Tier 3: (continued) Specialist options

SSgA Australian Listed Property Index Trust


S&P/ASX 200 – Listed Property Accumulation Index


High

100% property securities

N/AN/AN/A9.9%

0.45% pa

Nil

0.2%

Master Trust 23

SSgA Australian Fixed Income Index Trust


UBS Australian Composite Bond Index

The fund strategy is to use index sampling techniques to approximate the benchmark in a range of key risk areas.

Low

100% Australian fixed interest

N/AN/AN/A4.9%

0.45% pa

Nil

0.1%

SSgA Global Fixed Income Index Trust

Coastal International Equity Fund


Citigroup WGBI ex Aust, 100% hedged to AUD

The fund strategy is to use index sampling techniques to approximate the benchmark in a range of key risk areas. Foreign exchange contracts are used to hedge current exposures to Australian dollars.

Low

100% international fixed interest

N/AN/AN/A6.1%

0.47% pa

Nil

0.12%

To outperform the MSCI World Index ex Aust on a rolling 3 to 5-year period by investing in a portfolio comprising at least 8 “long-short” absolute return hedge funds. To preserve and protect capital and avoid losses in periods when world stock markets decline.


Holds a diversified portfolio of long and short absolute return hedge funds, each specialising in investing in a particular country or region. Currency exposures are not hedged.

Less volatile returns than mainstream share market indices, with a low probability of negative returns.

100% international shares held on a currency unhedged basis

N/AN/A1.4%5.0%

1.28% pa

10% of excess return over benchmark

Nil

To provide returns comparable to that of the HFR Composite Hedge Fund Index by investing in a portfolio of at least 15 international hedge funds. Foreign currency exposures are hedged back into AUD.

HFR Fund of Hedge Fund Index

The Fund invests in a diversified portfolio of specialist investment funds that use investment strategies capable of generating positive returns in both rising and falling markets from investing in securities such as shares, bonds and other securities. Foreign currency exposures are hedged back into AUD.

Returns are consistent in the medium term and typically uncorrelated with traditional asset classes.

100% diversified portfolio of hedge funds

N/A8.5%2.7%8.5%

2.79% pa

Nil

Nil

Coastal Magnum Diversified Performance Fund

Alternative

24

Objective

Benchmark index

Investment strategy

Risk/return profile


Australian sharesInternational sharesPropertyAustralian fixed interestInternational fixed interestCash


31 Dec 200231 Dec 200331 Dec 200431 Dec 2005

Management fees3

Performance fees4


Warakirri Absolute Return Fund

Barclays Superannuation Funds Diversified Growth Fund

To achieve superior investment performance through providing returns, before fees and taxes, that exceed those of the neutral portfolio benchmark over rolling three-year periods. The neutral benchmark comprises of 30% interest bearing assets and 70% growth assets.

Varies according to asset allocation

The fund invests in various asset classes primarily via actively managed sector funds. Each sector fund utilises a disciplined active approach to investment management that aims to add value and control active risk, with the exception of a passive international bond fund.

There may be some volatility in returns in the short term but they tend to stabilise over longer periods.

35% 30% 5% 20% 5% 5%

N/AN/AN/A15.5%

0.97% pa

Nil

0.5%



a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid.5 Includes private equity.

Aims to generate consistent long-term capital appreciation with low volatility and little correlation with equities and bonds.

N/A

To seek and invest in the top 1% of hedge fund managers globally to create a diversified portfolio of between 45–55 underlying managers that can exploit inefficiencies in the world’s global capital markets on a consistent and repeatable basis.

To achieve superior risk-adjusted returns regardless of the market directions or cycles.

N/A

N/AN/AN/A4.3%

1.48% pa

10% of all positive performance above the previous quarter-end high water mark

Nil

IXIS Aurora II Australia Fund

Provide access to a portfolio that is designed to achieve:- Returns of AUD 8% pa over

rolling 3 to 5 year periods.- Annual standard deviation

in returns less than 4%.- Returns uncorrelated with

equities and bonds.- Low probability of negative

returns in a quarter or year.

N/A

Invests in a professionally constructed, well diversified, and managed portfolio of alternative investment strategies.

Returns are consistent in the medium term and typically uncorrelated with traditional asset classes.

N/A

-0.9%9.4%10.0%4.5%

1.43% pa

10% of the return over 8% in an Australian financial year subject to high water mark

Nil

Alternative DiversifiedTier 3: (continued) Specialist options

Master Trust 25

Barclays Superannuation Funds Diversified Stable Fund

Aims to achieve superior investment performance through providing returns, before fees and taxes, that exceed those of the neutral portfolio benchmark over rolling three-year periods. The neutral benchmark comprises of 70% interest bearing assets and 30% growth assets.


The fund invests in various asset classes primarily via actively managed sector funds. Each sector fund utilises a disciplined active approach to investment management that aims to add value and control active risk, with the exception of a passive international bond fund.

Relatively low but stable returns.

15% 10% 5% 35% 10% 25%

N/AN/AN/A9.2%

0.97% pa

Nil

0.3%

ING Wholesale Managed Growth Trust

Maple-Brown Abbott PST

Aims to achieve gross returns that on average exceed inflation by at least 5% pa over periods of 5 years or more.


Invests in a diversified mix of Australian and international assets with a strategic bias towards growth assets.

The fund seeks long-term growth by investing in predominantly growth assets. Shares are more risky than property, fixed interest and cash.

35% 25% 10% 15% 10% 5%

-5.6%6.2%15.6%14.3%

1.03% pa

Nil

0.22%

To outperform, over rolling three year periods, the average of other pooled superannuation funds (as measured by the Mercer Investment Consulting Pooled Fund Survey – Arithmetic Mean).

Pooled Fund Average (Mercer Investment Consulting Pooled Fund Survey – Arithmetic Mean)

Invests in various asset classes and applies an active value-based style to select securitieswithin each class. Tactical asset allocation changes are implemented over time to increase prospective returns and protect capital.

May outperform/underperform in the short term but volatility is relatively low over the long term.

40% 15% 12% 25% 0% 8%

N/AN/AN/AN/A

0.99% pa

Nil

0.36%

Return potential in excess of CPI + 4.5% on average pa over the longer term.


The Fund invests in a portfolio of Australian and global shares, property securities and private markets.


41% 56%5

3% 0% 0% 0%

N/AN/AN/A19.1%

1.09% pa

Nil

0.35%

MLC Aggressive Option

26

Objective

Benchmark index

Investment strategy

Risk/return profile

Benchmark asset allocation1

Australian sharesInternational sharesPropertyAustralian fixed interestInternational fixed interestCash


31 Dec 200231 Dec 200331 Dec 200431 Dec 2005

Management fee3

Performance fees4


MLC Moderate Option MLC Conservative Option



Invests in a number of asset classes, including shares, property securities, private markets and bonds. The Fundfavours more secure assets.

Relatively low but stable returns.

10% 18%5

2% 39% 21% 10%

N/AN/AN/A8.8%

0.92% pa

Nil

0.1%



Invests in a number of asset classes, including shares, property securities, private markets and bonds. The Fund focuses on assets with greater growth potential.


36% 46%5

3% 7% 8% 0%

N/AN/AN/A16.9%

1.06% pa

Nil

0.3%

MLC Assertive Option



Invests in a number of asset classes, including shares, property securities, private markets and bonds.


32% 34%5

4% 15% 15% 0%

N/AN/AN/A14.9%

1.00% pa

Nil

0.25%

Diversified



a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid.5 Includes private equity.

Tier 3: (continued) Specialist options

The AMP Capital Sustainable Future Australian Share Fund

systematically addresses labour standards, together with

environmental, social and ethical considerations, as part

of deciding whether to buy, hold or sell shares.

AMP Capital Investors rates companies on a two dimensional

Assessment Matrix which considers:

1. Industry by sustainability.

2. A company’s corporate social responsibility (CSR), giving equal

weighting to workplace (including labour standards), community

(social), value chain (including corporate governance and business

ethics) and environmental issues.

AMP Capital Investors applies higher CSR hurdles to less

sustainable industries. This analysis identifies which companies the

fund can potentially invest in (the potential investible universe).

Active financial analysis is used to identify companies for

investment within this universe.

Characteristics of the fundThe assessment process leads to the fund having the following

characteristics:

1. Seeking out ‘Industry of the Future’ companies within sectors

with the most socially and environmentally sustainable

performance outcomes, including education and training, health

care, renewable energy, waste management and mass transport.

2. Exclude sectors judged to be least sustainable on their social and

environmental performance outcomes. This results in exclusions

to companies with material exposure (ie >10% on financial

criteria such as revenue) to the production and distribution of

alcohol, armaments, gambling, nuclear (including uranium),

pornography and tobacco.

3. Higher Hurdles for less sustainable Industries. In less sustainable

industries, such as forestry and mining, we expect companies to

take a proactive and leading approach to corporate social

responsibility. We expect companies to demonstrate leadership

in both how they manage social and environmental issues and

contribute to an improvement in performance outcomes within

their industry.

4. Constructively engaging with companies to tackle the social

and environmental challenges they are faced with.

5. Requiring companies to meet financial performance criteria

to qualify for inclusion.

Additional information on AMP Capital Sustainable Future Australian Share Fund’s socially responsible investment (SRI) approach

Standards for assessmentWhen applying an SRI approach, the AMP Capital team draws on

a range of standards including:

• Labour standards Compliance with occupational health and safety

(OH&S) and employment laws, international labour standards

(eg International Labour Organisation Core Standards); level of

development of OH&S and employment management systems

and OH&S and employment performance outcomes.

• Environmental issues Compliance with domestic and

international environmental law, level of development of

environmental management systems (eg the ISO 14001

environmental management standard) and environmental

performance outcomes.

• Social issues Consultation and involvement with the local and

broader community, the level and quality of public sustainability

reporting.

• Ethical issues Compliance with good corporate governance

practices and specific industry and company law; relationships

with suppliers, customers and competitors.

The specific performance outcomes in each area depend on the

industry.

Retention and realisation policiesAMP Capital monitors companies on an ongoing basis. If a

company falls below our investible SRI standards it is sold within

six months. A company may also be divested at any time for

financial reasons.

Extent of CoverageThe assessment of labour standards, environmental, social and

ethical issues, only applies to the Australian equity component

(>90%), and not to the cash and bonds (<10%) component of

the Sustainable Future Australian Share Fund.

More informationFor more information on the investment process and how AMP

Capital incorporates social and environmental issues please see the

SRI Research and Engagement Handbook which is available at

www.ampcapital.com.au.

Also on this website you can access: the range of position papers,

newsletters detailing recent constructive engagement and product

stock holdings.

This information is also available in hard copy through the

AMP Capital Client Services Team on 1800 658 404.

27Master Trust

28

This section summarises employers’ options and

the terms and conditions applying to members

of Aon Master Trust Corporate Super insured

through AIG Life insurance policies. Customised

Corporate Super plans may place insurance

with another insurer – in all cases, terms and

conditions appear in members’ Product

Disclosure Statements.

The Aon Master Trust offers insurance options to cover most employee needs. Employers can choose default insurance options – your client relationship manager can advise you on insurance options available.

Your insurance choices include:

• death-only: for members aged under 65

• combined death and total and permanent disablement (TPD): for members aged under 65 and gainfully and permanently employed or 15 hours per week or more

• salary continuance: for members aged under 65 (or aged under 60 for automatic acceptance levels to apply) and gainfully and permanently employed for 15 hours per week or more

• no insurance cover.

You can also choose the way insurance is calculated –based on total cover required or based on units of cover where each unit is a $60 premium per annum. To advise us of your choice, read this section then complete the relevant questions in the Employer application form at the back of this PDS.

Insurance cover is not compulsory. Your employees may stay with the default option or apply for additional insurance cover to meet their needs.

The insurance cover and premiums shown in this PDS are current as at 1 July 2006. Terms and conditions under insurance policies may vary from time to time. Please refer to the policy documents for full details of the terms and conditions that will apply. All insurance is subject to the insurer’s acceptance. The insurer may decline cover, impose exclusions on any cover granted or add premium loadings where it believes there is an increased risk.

Insurance options

Automatic Acceptance Levels (AALs)As a benefit for employers that choose a default insurance option, your employees may be eligible for automatic insurance acceptance up to the limits shown below, without the need to provide evidence of health.

Employees Death and Salary Continuance in plan TPD AAL AAL

10 to 19 $250,000 $4,000 per month

20 to 49 $350,000 $5,000 per month

50 to 99 $500,000 $6,000 per month

100 to 199 $600,000 $7,000 per month

200 to 249 $600,000 $8,000 per month

250 to 499 $750,000 $8,000 per month

500 or more Considered on a case-by-case basis

In order for an AAL to apply, the following conditions must be satisfied:

• the participating employer must nominate the Aon Master Trust as their ‘default fund’,

• the employer must have 10 or more employees in the plan, and more than 75% of eligible employees must be insured under the plan,

• new members must be notified to the trustee within 120 days of commencing employment,

• ‘at work’ conditions must be met, and

• suitable eligibility conditions are clearly defined and pre-determined insurance benefits are specified.

Generally, members will need to provide medical evidence if the above conditions are not met, if they are aged 60 or over on the date they commence employment or their employer joins the Trust, if default cover is not applicable under their plan, if they request additional cover over the default or if the default exceeds the AAL for their plan.

Death-only insurance Death-only cover provides an insurance payout of up to $5 million if a member dies, subject to member choices and trustee and insurer approval. Standard costs for death-only insurance are explained on pages 32 and 33. Death benefits will usually be paid to the member’s beneficiaries or dependants (see page 30).

29Master Trust

Death and total and permanent disablement (TPD) insuranceDeath and TPD cover provides an insurance payout of up to $5 million if a member dies or up to $2 million if a member becomes totally and permanently disabled, subject to member choices and trustee and insurer approval. Standard costs for death and TPD insurance are explained on pages 32 and 33.

In general, a member is considered totally and permanently disabled if they have been off work due to illness, accident or injury for six consecutive months, and the insurer and the trustee are satisfied by medical and any other relevant evidence that they are unlikely ever to work at their usual occupation and any occupation for which they are reasonably suited by education, training or experience. Different conditions will apply during periods of unemployment or leave without pay.

A member’s sum insured for TPD cover will reduce linearly to zero between ages 60 and 65, and their premium costs will reduce accordingly.

Salary continuance insuranceSalary continuance cover can provide members with an income in the event of total disability due to sickness or injury. Members can receive up to 75% of their pre-disability income or the amount insured, whichever is the lesser (subject to a maximum of $20,000 a month). This cover can continue for a maximum two-year period with a choice of a 30, 60 or 90-day waiting period before the benefit is payable. As an employer, you can choose a default waiting period.

Salary continuance cover is only available to members who also take out death-only or death and TPD insurance with the Aon Master Trust. Rates for salary continuance insurance are shown on page 33.

A total disability benefit may be payable if a member has been off work due to sickness or injury on consecutive days for the entire waiting period and the insurer and trustee are satisfied by medical evidence that he or she is:

• not engaged in any occupation for wage, salary or profit,

• unable to perform at least one important duty of their usual occupation necessary to produce income. An ‘important duty’ is defined as one involving 20% or more of their overall occupation-related tasks,

• under the regular care and attendance of a registered medical practitioner in relation to their sickness or injury.

A partial disability benefit may be payable after the completion of the waiting period if following injury or sickness which directly causes total disability for at least 14 consecutive days, the insurer and trustee are satisfied by medical evidence that the member:

• is able to perform one or more of the duties of their regular occupation, but unable to perform all of the duties of their occupation on a full-time basis due to sickness or injury,

• is earning an income from their occupation, another occupation or from profit at a rate of less than 75% of their monthly pre-disability income,

• has been totally disabled for at least 14 consecutive days during the waiting period,

• is under the regular care and attendance of a registered medical practitioner.

Salary continuance benefits are paid monthly in arrears, after the expiry of the waiting period. They cease on the earliest date that the member reaches age 65, or dies, or no longer satisfies the policy’s total or partial disability definitions, or receives two years of benefit payments.

Salary continuance benefit offsetsIf any other benefits are payable to a member for loss of income, the salary continuance benefit may be reduced so total benefits paid do not exceed 75% of pre-disability income (excluding mandated superannuation contributions). Other income that will reduce salary continuance benefits includes:

• workers’ compensation,

• motor accident compensation,

• social security benefits,

• salary continuance benefits from other insurance companies,

• any paid sick leave entitlements,

• other ongoing income generated from ownership in a business or practice, and

• ongoing payments from an employer.

30

When cover endsAll insurance may cease if we do not receive any contributions to a member’s account for over 12 months and their account balance falls below $5,000.

Death cover ends on the earliest date that any of the following applies to a member:

• they turn age 65

• a death or TPD benefit under their policy is paid or is payable (death cover will be reduced by any TPD payment amount if death cover exceeds TPD cover)

• 60 days after premium payments cease

• their policy is terminated

• they request cancellation of cover in writing

• they commence active duty in the armed forces

• 60 days after they cease to be a member of the Trust

• we receive from them a continuation option application for death-only cover

• their benefit is transferred to an eligible rollover fund

• they leave the Trust as a result of total and permanent disablement.

TPD cover ends on the earliest date that any of the following applies to a member:

• they turn age 65 or die

• a death or TPD benefit under their policy is paid or is payable





• they are no longer permanently and gainfully employed for 15 hours per week or more

• their benefit is transferred to an eligible rollover fund

• 60 days after they cease to be employed by a participating employer of the Trust, unless they are accepted for continuing TPD insurance after transfer to Aon Master Trust Personal Super.

Salary continuance cover ends on the earliest date that any of the following applies to a member:

• they turn age 65 or die

• a death or TPD benefit under their policy is paid or is payable





• they are no longer permanently and gainfully employed for 15 hours per week or more

• they cease to be employed by a participating employer of the Trust.

Leave without pay (including maternity/paternity leave)Aon Master Trust Corporate Super members with death-only or death and TPD insurance are covered during periods of leave without pay approved by their employer in writing (including maternity/paternity leave). Death cover continues indefinitely as long as the premium continues to be paid for the period. TPD cover ceases after 12 months on approved leave, as long as the premium continues to be paid for the period.

Members with salary continuance insurance are covered during periods of leave without pay approved by the employer in writing (including maternity/paternity leave) for periods of up to 12 months, as long as the premium continues to be paid for the period.

There must be documented evidence of an agreed return to work date and the member must return to work within 30 days of the agreed date.

Cover while out of AustraliaNormally a member’s insurance cover will continue if they are travelling outside Australia for up to 12 months (or up to 3 months if on leave without pay). It will cease immediately if the member enters a war zone.

Beneficiaries/dependantsThe trustee decides who will receive a member’s death benefit. Normally, this will be a dependant such as their spouse, children, someone financially

31Master Trust

dependent on them or someone in an interdependency relationship with them. The trustee ensures that those who receive the benefit are the most appropriate beneficiaries, in light of the member’s circumstances at the time of death and any requirements imposed by law.

When a member joins the Trust, they are asked to nominate the beneficiaries to whom their benefit may be paid in the event of their death. Should their circumstances change, they should update this information. The trustee will use this information as a guide but it is not binding.

If a member has no dependants, the death benefit is normally paid to their legal personal representative.

Insurance exclusionsThe death and TPD policy excludes:

• active service in the armed forces of any country or international organisation

• death from suicide if it occurs within the first 13 months of effecting voluntary insurance cover

• disablement directly or indirectly, wholly or partly caused by intentional self-inflicted injury or any such attempt by the member whether sane or insane

• any other underwriting exclusion imposed by the insurer.

The salary continuance policy excludes:

• intentionally self-inflicted injury, attempted suicide or self destruction while sane or insane

• uncomplicated pregnancy, childbirth or miscarriage

• declared or undeclared war or any act of war

• active service in the armed forces of any country or international organisation

• any other underwriting exclusion imposed by the insurer.

Insurance continuation optionsIf a member is under age 60, has death insurance in the Trust, leaves the employer and ceases to be a member other than as a result of TPD, they may be able to purchase continuing death-only insurance cover from the insurer of the Aon Master Trust. This cover is subject to conditions including, but not limited to:

• the member must apply for continuation of the insurance cover within 60 days of leaving a participating employer

• no claim for insurance has been made on the Trust

• cover will not exceed the member’s amount insured on the day prior to the date they leave their employer.

If a member is under age 55 and the circumstances above apply but they have death and TPD cover, they may be able to purchase continuing death and TPD cover if they are about to be employed in the same or similar occupation – contact us for more information.

Insurance on transfer to Aon Master Trust Personal SuperIf their account is greater than $5,000, a member can elect to transfer to Aon Master Trust Personal Super – for example, if they leave their employer.

On transfer they will continue to maintain death-only insurance if under age 65 and may apply to continue death and TPD insurance if under age 60, subject to a number of conditions. A member may be transferred to Aon Master Trust Personal Super automatically if the Trust is notified of them leaving their employer but does not receive notification as to how they want their benefit treated within 60 days of requesting this information. In this case TPD insurance will cease automatically.

Premiums will automatically revert to ‘heavy blue collar’ rates unless the member provides us with information regarding their employment classification – see the Personal Super PDS for more information.

Benefit if permanently incapacitated If a member is not entitled to a TPD benefit, but becomes permanently incapacitated, the sum of their account balance may be paid to them if they have ceased to be gainfully employed, and the trustee is satisfied that they are unlikely, because of physical or mental ill-health, ever to engage in gainful employment for which they are reasonably qualified by education, training or experience.

32

Insurance costsThe Aon Master Trust reviews the insurance cover offered and the rates on a regular basis. Rates will change from time to time. Insurance premiums are deducted from members’ accounts monthly.

The chart on page 33 sets out the base rate options for:

• annual death/TPD insurance premiums per $1,000 sum insured or per $60 unit

• annual salary continuance insurance premiums per $100 of monthly benefit.

The rates shown are applicable for occupations classified as ‘white collar’. When calculating insurance premiums, members need to take into account an occupation factor (see table at right). Rates include up to 30% brokerage fees paid to Aon Consulting for administering the insurance. You can negotiate the brokerage with Aon or your financial adviser.

These rates and factors are correct at the date of issue. They will change from time to time and any increase or decrease in premiums will be charged automatically to members. The actual premium charged (but not necessarily the rate or factor) will be advised each year in members’ benefit statements.

The cost of insurance depends on a member’s choices, type and amount of cover, occupation, age – and, for salary continuance, gender and chosen waiting period.

To calculate total cost for the $1,000 sum insured options (see Examples A and B):

• find the occupation factor applicable

• multiply it by the amount of insurance required, and

• divide the result by $1,000 x the age rate (for death and TPD) or by $100 x the age rate (for salary continuance).

The insurer reserves the right to decline or limit cover to any occupational classes that it considers hazardous or to contain hazardous components. Depending on their occupational activities, a member may not be eligible for insurance. This is at the insurer’s discretion.

Example A: Death and TPD insuranceA ‘blue collar’ member seeks death and TPD insurance. He is aged 35 next birthday.

Insurance required is $100,000.

Insurance cost= Factor x insurance required ÷ $1,000 x rate

shown on page 33= 1.75 x $100,000 ÷ $1,000 x $0.74= $129.50 annual premium

Example B: Salary continuance insuranceA ‘grey collar’ member seeks salary continuance insurance cover for 75% of a $55,000 pa salary.

She is aged 50 next birthday and chooses a 60-day waiting period.

Insurance required is $55,000 x 75% = $41,250 a year or $3,437.50 a month

Insurance cost= Factor x monthly insurance required ÷ $100

x rate shown on page 33

= 2.025 x $3,437.50 ÷ $100 x $9.79

= $681.48 annual premium

Professional (eg qualified professionals, accountants, economists, lawyers) 0.90 0.875 0.90 1.35

White collar (office work only) 1.00 1.00 1.00 1.50

Grey collar (eg sales people, shop-keepers, computer technicians) 1.25 1.375 1.35 2.025

Blue collar (eg nurses, qualified tradespersons, plumbers, carpenters) 1.50 1.75 1.75 2.625

Heavy blue collar manual workers with non-hazardous work components (eg cleaners and tradespeople) 2.00 2.50 3.00 4.50

Occupation factors Death- Death Salary only and TPD continuance factor factor factor Male Female

33Master Trust

Option: Annual insurance premium per $1,000 sum insured

Age next Death Death & TPD Death Death & TPD 30 days 60 days 90 daysbirthday $ $ $ $ $ $ $

16 0.39 0.57 151,900 105,000 4.48 3.02 1.5317 0.55 0.74 109,800 81,100 4.48 3.02 1.5318 0.68 0.92 88,100 65,000 4.48 3.02 1.5319 0.80 1.08 75,100 55,300 4.48 3.02 1.5320 0.81 1.15 74,300 52,100 4.48 3.02 1.5321 0.78 1.07 76,700 56,200 4.48 3.02 1.5322 0.70 0.96 86,000 62,600 4.54 3.03 1.5323 0.59 0.82 102,000 72,800 4.60 3.07 1.5624 0.50 0.70 119,000 86,000 4.67 3.13 1.5725 0.46 0.63 129,800 95,200 4.74 3.17 1.5726 0.44 0.61 137,300 97,800 4.71 3.13 1.5327 0.44 0.60 137,300 99,100 4.60 3.13 1.4628 0.44 0.59 137,300 102,000 4.56 2.97 1.4029 0.44 0.60 137,300 99,100 4.56 2.95 1.3530 0.44 0.61 137,300 97,800 4.59 2.97 1.3431 0.45 0.61 134,700 97,800 4.67 2.99 1.3432 0.47 0.64 127,500 93,900 4.78 3.06 1.3433 0.49 0.68 123,100 88,100 4.93 3.17 1.3834 0.50 0.70 119,000 86,000 5.12 3.28 1.4235 0.55 0.74 109,800 81,100 5.36 3.42 1.4936 0.57 0.77 105,000 77,600 5.62 3.59 1.5737 0.59 0.82 102,000 72,800 5.89 3.79 1.6838 0.64 0.88 93,900 68,000 6.24 4.01 1.7939 0.70 0.96 86,000 62,600 6.58 4.26 1.9440 0.75 1.04 80,200 57,500 7.00 4.54 2.1141 0.81 1.13 74,300 52,800 7.42 4.86 2.3042 0.91 1.26 66,100 47,600 7.92 5.23 2.5343 0.99 1.39 60,500 43,200 8.44 5.62 2.8044 1.10 1.55 54,500 38,600 8.99 6.05 3.1045 1.22 1.74 49,200 34,400 9.61 6.51 3.4446 1.35 1.98 44,300 30,200 10.29 7.06 3.8347 1.50 2.27 40,100 26,400 10.99 7.64 4.2848 1.69 2.60 35,500 23,100 11.79 8.29 4.7849 1.88 2.96 31,800 20,200 12.66 9.02 5.3650 2.12 3.39 28,300 17,600 13.61 9.79 6.0051 2.37 3.86 25,300 15,500 14.61 10.67 6.7352 2.63 4.42 22,800 13,500 15.75 11.64 7.5553 2.95 5.11 20,300 11,700 16.98 12.71 8.4854 3.32 5.90 18,000 10,100 18.31 13.89 9.4955 3.71 6.79 16,100 8,800 19.80 15.23 10.6456 4.13 7.83 14,500 7,600 21.43 16.68 11.9457 4.61 9.00 13,000 6,600 22.97 18.29 13.3958 5.14 10.18 11,600 5,800 25.17 20.08 14.9859 5.74 11.52 10,400 5,200 27.35 22.06 16.7660 6.38 13.01 9,400 4,600 29.73 24.25 18.7461 7.10 14.66 8,400 4,000 32.36 26.66 20.9662 7.90 16.53 7,500 3,600 35.27 29.33 23.3863 8.75 18.60 6,800 3,200 35.27 28.48 22.0664 9.72 20.90 6,100 2,800 22.18 18.87 12.8165 10.76 23.48 5,500 2,500 8.69 5.89 3.10

Option: Annual salary continuance insurance premium per $100 of monthly benefit (includes stamp duty)

Waiting period options

Option: Benefit payable per unit ($60 annual premium per unit)

34

Tax on super can be complicated, but super

can be a tax effective way to save. This section

provides a brief summary of how super is taxed,

as at 1 January 2007. Call the ATO on 13 10 20,

visit www.ato.gov.au/super or talk to a

financial adviser for more information.

Providing tax file numbersThe trustee must request each member’s tax file number (TFN) under the provisions of the Superannuation Industry (Supervision) Act 1993 (SIS Act).

Members are not obliged to supply TFNs, but if they do they will:

• be entitled to concessional rates of tax on benefits

• aid the smooth transfer when they roll over benefits from one fund to another

• make it easier to locate or consolidate their benefits in a fund.

Failing to provide a TFN to the trustee may result in a higher rate of tax being applied to withdrawals or contributions. Consequences for failing to provide a TFN may change in the future.

The trustee will treat TFNs confidentially and use them for legal purposes only. For example, applying the concessional tax rate to benefit payments, providing information to the Commissioner of Taxation, providing the number to a rollover fund and finding or identifying benefits.

Tax and super

Tax on employer contributions Employer contributions are taxed at a rate of 15%. Termination payments made by employers and rolled over to super accounts are subject to tax on the post-June 1983 component.

Tax on investment earnings Complying superannuation funds are taxed on investment earnings at a lower rate than most types of investment. Tax of up to 15% is deducted from the investment earnings of the Trust.

Government co-contribution The Government may pay a superannuation co-contribution of up to $1.50 for every dollar a member adds to super as an after-tax contribution, as long as their total income is under $28,000. The co-contribution is currently a maximum $1,500 pa and is reduced if the member earns over $28,000, phasing out completely if they earn over $58,000 a year.

Spouse contribution splittingA member may ‘split’ or transfer up to 85% of annual before-tax contributions paid after 1 January 2006 and up to 100% of annual after-tax contributions paid after 1 January 2006, to their spouse’s super account. ‘Spouse’ is defined as a married or de facto partner of the opposite sex. Same sex couples are not currently eligible. Spouse contribution splitting may substantially reduce tax payable when super is withdrawn. An $80 withdrawal fee is charged to the member’s account for each spouse split payment (maximum once a year).

35Master Trust

Tax rebates for spouse contributions If a member’s spouse earns less than $13,800 a year (including reportable fringe benefits) and the member makes spouse contributions for them, the member may be eligible for a tax rebate of up to $540 a year.

The amount of spouse contributions is unlimited, but the maximum rebate is 18% of $3,000 (ie $540). The rebate is reduced if the member’s spouse earns over $10,800 and phases out completely if they earn over $13,800 a year. The member can claim the rebate on their tax return for the year in which the contribution is made.

Reasonable benefit limits Reasonable benefit limits (RBLs) restrict the amount of concessionally taxed super a member can receive. The RBL will take account of all superannuation benefits received from all regulated superannuation entities. Amounts in excess of a lump sum RBL will be taxed at the highest marginal tax rate (currently 45% plus the Medicare levy). If superannuation benefits are used to buy a complying pension or annuity when a member retires, the RBL will be higher. Contact the Australian Taxation Office on 13 10 20, or visit www.ato.gov.au/super to find out the current RBLs.

Tax when members access superGenerally, members may only access their super when they retire. However, if a member reaches their preservation age and keeps working, they may choose to access some super under the rules governing transition to retirement.

The tax a member will pay when they access their super depends on a number of factors including their age, reasonable benefit limit (see above), whether they buy a pension or annuity, the year they began employment and the type of benefit – for example retirement, disability, or death.

We recommend that members who are thinking of retiring or accessing their super should contact a financial adviser as soon as possible to discuss options. Call us on 1300 880 588 for more information.

Tax on death benefits Tax payable on death benefits varies according to who receives the benefit and how it is paid. Lump sum death benefits are tax-free if paid to a spouse, a child under the age of 18, or any person financially dependent on, or in an interdependency relationship with, the member, subject to the pension RBL limit. Amounts in excess of the pension RBL are taxed at the top marginal tax rate.

Lump sum payments under pension RBL limits that are made to others are taxed as ordinary lump sums, except that any post-30 June 1983 component of the benefit will be taxed at 15% plus Medicare and any other Government levy.

If the required conditions are satisfied, the Trust may calculate an ‘anti-detriment’ amount recovering all tax paid on contributions made by the deceased member since 1 July 1998. For more information, a member can contact their financial adviser or call us on 1300 880 588.

Tax on total and permanent disablement benefits Generally, if a member receives a TPD benefit, the part of the benefit representing service to the date of disablement is taxed as a lump sum. The tax rate depends on the member’s age, the amount of the benefit and other factors. The part of the benefit that relates to projected service from the date of disablement to age 65 is tax free if the member qualifies for invalidity under tax legislation.

Taxation laws may change as a result of government legislation. Call the Australian Taxation Office on 13 10 20, visit www.ato.gov.au/super or talk to a financial adviser for the latest information.

36

Fees that apply can be negotiated with employers depending on plan requirements. An indication of the Aon Master Trust fee structures for members is shown on page 37.

The trustee can change the fees that apply to the Aon Master Trust members with your consent or after 30 days written notice.

The warning below is required under Australian law. Specific information about fees and costs is considered on pages 37 to 39 of this document.

DID YOU KNOW?

Small differences in both investment performance and fees and costs can have

a substantial impact on your long-term returns.

For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final benefit by up to 20% over a 30-year period (for example, reduce it from

$100,000 to $80,000).

You should consider whether features such as superior investment performance or the provision of better member services justify

higher fees and costs.

You may be able to negotiate to pay lower contribution fees and management

costs where applicable. Ask the fund or your financial adviser.

TO FIND OUT MORE

If you would like to find out more, or see the impact of the fees based on your own

circumstances, the Australian Securities and Investments Commission (ASIC) website (www.fido.asic.gov.au) has a superannuation calculator to help you check out different

fee options.

Fees and other costs

This section shows fees and other costs that members may be charged. These fees and costs may by deducted from:

• members’ account balances,

• the returns on members’ investments, or

• the Trust assets as a whole.

Insurance costs and taxes are set out on pages 28 to 33.

You should read all of the information about fees and costs because it is important to understand their impact on members’ investments. Fees and costs for particular investment options are shown on pages 15 to 26.

Member fees and asset administration fees are deducted directly from members’ accounts. Other management fees are deducted from the Trust’s investment return. All fees paid are shown on members’ annual benefit statements. Any exit fees charged to benefit payments when members leave the Trust will be shown on their exit statement.

Checking account transactions

Members can check transactions in and out of

their account at any time by logging into their

online account at www.aonmastertrust.com.au

(username and password required).

37Master Trust

Type of fee or cost

Fees when your money moves in or out of the fund

Establishment fee The fee to open your investment

Contribution/transfer fee The fee on each amount contributed or transferred to your investment, either by you or your employer

Withdrawal fee The fee on each amount you take out of your investment, including any spouse split payments

Termination fee The fee to close your investment

Management costs

Member fee1 The fee for administering your member account

Asset administration fee1 The fee for administering your assets/investments, including adviser fees, if applicable

Management fee Calculated using an Indirect Cost Ratio (ICR)2. This fee covers the cost of managing your investments and includes investment management fees, custodial fees and cost recoveries The amount you pay for specific investment options is shown on pages 15 to 26

Service fees

Adviser service fee3 A fee for planning and financial advice, as negotiated with your financial adviser, if applicable

Investment switching fee A fee for changing your investment options

Buy/sell spread The fee or transaction costs involved with buying and selling specific investments

How and when paid

Not applicable

Not applicable

Deducted from the benefit payment when it is paid

Not applicable

Deducted from your account monthly

Deducted from your account monthly. The fee is calculated using your account balance at the end of each month

Deducted from the Trust’s investment earnings before the unit price is calculated and applied to your account. These fees vary for each investment option and can change each year

Deducted from your account monthly (ongoing fees) or as a one-off amount (ad hoc). The asset-based fee is calculated using your account balance at the end of each month

Not applicable

Not applicable Not applicable Paid from asset on transfer

Amount

Nil

Nil

$80

Nil

$60 pa Up to 1.1% pa of your account balance

The fee varies according to your chosen investment option(s) and ranges from 0.45% pa to 2.79% pa

Asset-based fee up to 2% pa (ongoing), or Fixed-dollar fee up to $10,000 pa (ongoing or ad hoc)

Nil

Tier 1: Nil Tier 2: Nil Tier 3: From Nil to 4.0% of asset being transferred

1 If you joined the Trust before 1 January 2007, fees may differ from those shown. 2 ICR is the ratio of the Trust’s total management costs not deducted directly from member accounts and

is expressed as a percentage of the Trust’s total average net assets in each investment option. 3 See page 38 for details.

Fees are inclusive of GST.

Fees that apply to members’ accounts are summarised below. Additional fees may be applicable to employers depending on service and consulting requirements. These will be negotiated when applicable.

38

Tax deductions Most of the fees paid directly by members are tax deductible. The Trust passes on the benefits of tax deductions to members.

Investment returnsThe tables on pages 15 to 26 show recent net investment returns credited to each option. The returns reflect the performance of the investment managers net of tax and management fees. Updated performance figures are available on our website at www.aonmastertrust.com.au

Past performance should not be taken as an indication of future performance.

Units and buy/sell spreadsMembers’ account balances at any time reflect underlying ‘units’ held in selected investment options. Unit prices move up and down each day in line with the value of the assets held in each option. Unit prices are calculated daily, with the exception of some Tier 3: Specialist options. See the table on page 39 for details.

Additions to members’ accounts are made by buying units at the applicable unit buy price. Most deductions, including tax or fees, are made by selling units at the applicable unit sell price.

Additional explanation of fees and costs

Any difference between the buy price and the sell price (known as buy/sell spreads) are due to transaction costs incurred when units are bought or sold. There is no buy/sell spread for the Tier 1: Pre-mixed and Tier 2: Sector options. Buy/sell spreads are charged only for Tier 3: Specialist options.

Adviser remunerationAn adviser may recommend an employer join this fund and may receive remuneration for their services which can include advice on asset selection and allocation, insurance and taxation. Adviser fees can be deducted from members’ accounts and are shown in members’ transaction statements (available anytime online or by calling us) and included in annual benefit statements. The adviser’s remuneration is paid monthly in arrears and may include:

• Asset administration fee The Aon Master Trust may pay an asset based commission to the financial adviser (if any) of up to 0.6% pa of member assets. This cost is negotiated with the employer and included in management costs.

• Insurance brokerage Aon Master Trust can pay up to 21% of insurance premiums to the financial adviser. This cost is negotiated with the employer.

• Adviser service fee – personal If a member has appointed a financial adviser, they and their adviser can agree an annual service fee for the personal

Example – Pre-mixed Index Balanced investment option

Contribution fee

PLUS Management costs EQUALS Cost of fund

Balance of $50,000 with total contributions of $5,000 during year

For every $5,000 you put in, you will be charged $0.

For every $50,000 you have in the Trust you will be charged $780 each year, plus a $60 member fee (regardless of your balance).

If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of:$840*.What it costs you will depend on the investment option you choose and, if applicable, any adviser service fee you negotiate.

0%

• 1.1% asset administration fee, plus • 0.46% management fee (for

Pre-mixed Index Balanced option), plus• $60 annual member fee.

The table below gives an example of how the fees and costs in the Pre-mixed Index Balanced option can affect a member’s superannuation investment over a one-year period. You can use this table to compare the Trust with other superannuation products.

Example of annual fees and costs

(This example ignores the effect of contributions, earnings, tax and other deductions on the account balance, and their impact on management costs. It also ignores any fee reduction an employer may negotiate).

* Additional fees may apply: Establishment fee – $0 and, if you wish to leave the fund, you may also be charged a withdrawal fee of $80.

39Master Trust

advice they provide (for example, developing and implementing a financial plan). This fee is deducted from the member’s account and paid to the adviser. The fee can be:

1. an ongoing asset-based fee capped at 2% pa, calculated using the member’s account balance at the end of each month and deducted monthly, or

2. one or both of the following:

• an ongoing fixed-dollar fee capped at a maximum of $10,000 pa and deducted monthly, and*/or

• an ad hoc fixed-dollar fee capped at a maximum of $10,000 pa and deducted as a one-off amount.

* The sum of ongoing and ad hoc fixed-dollar fees cannot exceed $10,000 pa.

Example: let’s say the member has a total account balance of $100,000 and that they have agreed an ongoing asset-based fee of 1.5% pa. The fee deducted from their account each month will be $125 (1.5% x $100,000 / 12).

To authorise payment of this fee, an Authority to advise form (available from our website or by calling us on 1300 880 588) must be completed by the member and their adviser and sent to the Trust. Please note that the trustee has the discretion to refuse to deduct an adviser service fee.

Manager performance fee Investment managers may charge a fee for overperformance of investment returns, for example 10% of any excess return over benchmark. This fee is deducted from investment earnings before unit prices are calculated and is only paid if success criteria are achieved. Performance fees are shown on pages 15 to 26.

Family law valuation fee Under family law legislation, an ‘eligible person’ (see page 43) may obtain certain information about a member’s superannuation account. The administrator charges a fee of $100 per accumulation valuation and $500 per defined benefit valuation (GST inclusive) to the person requesting it at the time the request is made. The fee is not deducted from the member’s account.

Special request fees A fee of $160 is payable for any family law split required. $80 is charged to each party at the time of the split. A fee of $160 is also payable for any temporary residency payments required.

Small accountsIn accordance with member protection legislation, the administration fees charged each year on account balances less than $1,000 will not exceed the investment earnings credited. This restriction on fees does not extend to taxation or insurance costs.

Increases or alteration in charges The member fee and withdrawal fee may be indexed annually to changes in the Average Weekly Ordinary Time Earnings (AWOTE) index. We can also change fees at any time if we give 30 days written notice to members and employers.

Plan feeYour plan may be charged an additional fee depending on the complexity of the benefit design. This can take the form of a flat annual fee and/or an extra member fee. If your plan is a defined benefit design, an additional annual actuarial fee will be charged according to the complexity of the service level required.

Option name

Property AMP Australian Core Property Portfolio

Alternative assets Coastal International Equity Fund

Coastal Magnum Diversified Performance Fund

IXIS Aurora II Australia Fund

Warakirri Absolute Return Fund

Application of unit prices*

Unit prices calculated daily. Withdrawals require a 3-month notice period.

Unit prices calculated quarterly. Transactions are applied at the next available unit price. Withdrawals require a 3-month notice period.

Unit prices calculated monthly. Transactions are applied at the next available unit price. Withdrawals require a 6-month notice period.

Unit prices calculated twice-monthly, mid-month and month-end. Transactions are applied at the next available unit price. Withdrawals require a 3-month notice period.

Unit prices calculated at month-end. Transactions are applied at the next available unit price. Withdrawals require a 3-month notice period.

* The administrator may be able to process withdrawal from these options earlier than the notice periods indicated above if circumstances permit.

40

The Aon Master Trust gives your employees the

opportunity to continue as members even if

they leave your employment. Their investment

and insurance arrangements can be continued

within Aon Master Trust Personal Super.

Benefit paymentsThe Aon Master Trust can provide resignation, retirement, death, disability and salary continuance benefits. Resignation and retirement benefit Eligible Termination Payments can be used to purchase an Aon Master Trust Allocated Pension if the member satisfies the preservation requirements listed below.

The resignation or retirement benefit payable is the total balance of the member’s accounts. If the employee is eligible for a death or total and permanent disablement insurance benefit, it will be paid in addition to their account balance.

Salary continuance insurance benefit payments will be paid monthly once approved by the insurer.

Preservation and access to superIn most cases, access to super is restricted until a member retires or chooses to access transition to retirement options. Most money in the super system is ‘preserved super’. Generally, preserved super can only be accessed once a member:

• reaches age 65 or reaches age 60 and leaves their employer

• reaches their preservation age (see table) and retires permanently from the workforce

• reaches their preservation age and keeps working, but chooses to access some super under the rules which govern transition to retirement – see page 41

• obtains release on severe financial hardship or compassionate grounds

• is a temporary resident leaving Australia permanently for overseas (conditions apply)

• becomes totally incapacitated or dies.

When your employees leave

Your preservation age is based on your date of birth

Before 1 July 1960 55

Between 1 July 1960 and 30 June 1961 56




1 July 1964 or after 60

In addition to preserved super, there are two other categories: ‘unrestricted non-preserved’ super, which can be accessed at any time, and ‘restricted non-preserved’ super, which in some cases can be accessed when a member ceases current employment. If any of a member’s super falls into these two categories, it will be shown on their annual member statement and they can contact us regarding access.

The paymentWhen an employee leaves service, you must advise the Trust. We will send the employee details of their benefit and ask for payment instructions. If the employee does not provide payment instructions within 60 days of leaving and the employee’s benefit is $5,000 or greater, their benefit will be automatically transferred to Aon Master Trust Personal Super. If their benefit is under $5,000 this will be transferred to the Eligible Rollover Fund (see page 41).

Their assets will be invested in the pre-mixed Index Balanced option, unless they notify us in writing of another option. Their insurance cover for death only will generally be maintained unless they notify us to cancel it. The employee can transfer the benefit to another complying superannuation fund at any time. The employee will be charged full Aon Master Trust Personal Super fees unless they negotiate lower fees with the product issuer or a financial adviser. These fees are disclosed in the Aon Master Trust Personal Super Product Disclosure Statement (PDS) which is available from our website or by contacting us.

A copy of the Personal Super PDS will be sent to the member on transfer.

41Master Trust

Eligible Rollover Fund (ERF)Once in Aon Master Trust Personal Super, if an employee’s balance falls below $5,000 with no ongoing contributions, then their benefit may be transferred to an ERF. The Trustee’s nominated ERF is:

Aon Eligible Rollover Fund GPO Box 9819 Sydney NSW 2001

If a benefit is transferred to the ERF, the member will cease to be a member of the Trust and all benefits in the Trust will cease, including insured benefits. Their balance will be invested in a secure investment strategy, which may produce lower investment returns than alternative strategies.

If a member reaches age 65 and their super benefit is unclaimed, it will be sent to the Australian Taxation Office or relevant State authority. After this transfer, the person will no longer be a member of, or have any rights under, the Trust. To claim their benefit they must contact the nominated ERF or relevant State authority directly.

Transition to retirementIn most cases, access to super is restricted until members retire or take advantage of ‘transition to retirement’ non-commutable pension options.

Employees who reach their preservation age and keep working can choose to access some of their super under transition to retirement rules. This requires converting part or all of their benefits to a non-commutable allocated pension or annuity.

The Aon Master Trust Allocated Pension offers transition to retirement options to members through a non-commutable pension – contact us or visit our website for more information and a copy of the Aon Master Trust Allocated Pension PDS.

42

Termination of your plan If you decide to terminate your participation as an employer-sponsor, you may arrange for your employees’ account balances to be transferred to another fund by successor fund transfer or member consent. An additional charge to cover the trustee’s legal costs will be negotiated in the event of a successor fund transfer. Other aspects of the termination may vary depending on the circumstances and arrangements of your plan.

Policy committeeIf you have more than 49 employees in the Aon Master Trust, we are required to set up a policy committee for your employees with an equal number of employer and member representatives. If you have fewer than 49 members, a committee is only required at the request of at least five members.

Your client relationship manager can attend half-yearly committee meetings and discuss investment and administration updates, developments within the Trust and super in general and other issues affecting employers and members.

Custodian The custodian is the Australia and New Zealand Banking Group Limited (ANZ). The custodian holds all investments of the Trust.

Insurer The standard insurer for the Trust is currently American International Assurance Company (Australia) Limited ABN 79 004 837 861 AFS Licence 230043 – trading as AIG Life. The insurer provides members with insurance cover in accordance with the insurance policy taken out by the trustee. Any change of insurer will be advised to members in the annual report. Customised plans may be able to negotiate a separate insurance policy. Contact us for more information.

Communicating with you and membersKeeping you and your employees informed about super is important. We do this through regular reports, updates, education material and our website, www.aonmastertrust.com.au

Other important information

Annual reports and member benefit statements are sent in the second half of each year. The statement includes members’ account balances, contributions, investment earnings, fees, taxes and other information. You and your employees also have access to transaction statements, newsletters and investment performance updates online.

Other information on request Information including product disclosure statements, privacy policy and annual reports is available on our website, www.aonmastertrust.com.au. We may provide other information on request to a participating employer, member, person who was a member within the previous 12 months, or any other beneficiary of the Trust. We may charge fees for reasonable costs incurred.

The information must be generally available, reasonably practicable to give and reasonably required for understanding:

• whether to acquire this product

• current, former or future benefit entitlements

• main features, management and financial condition of the plan

• investments and investment performance of the plan

• Superannuation Guarantee requirements (only applicable to employer-sponsors).

The documents we must give on request include:

• the governing rules (trust deed) of the Trust

• the audited accounts and copy of the auditor’s report

• the most recent actuarial report and any subsequent advice by the actuary to the trustee, to the extent that advice is relevant to the overall financial condition of the fund or the entitlements of a person

• risk management plan

• most recent copy of the annual report.

There are important exceptions from the disclosure requirements for internal working documents, confidential information, or information or documents that would, or may tend to disclose personal information, trade secrets or commercially valuable information devalued by disclosure.

43Master Trust

Trust deed The Aon Master Trust was established by a trust deed dated 25 June 1990. It has been amended from time to time. The trust deed may be amended by agreement between the trustee and the settlor (Aon Consulting Pty Limited) at any time. The powers to amend are limited by the current trust deed and by law. Specific rules regarding termination of the Trust and distribution upon termination are contained in the trust deed and rules. The trust deed is available for inspection at the office of the administrator. Alternatively, a copy may be posted for a fee of $50 (including GST).

Privacy We collect and keep personal information about you and your employees to manage investments in the Trust. This information may be disclosed to the Trust’s insurer, administrator, auditors, government agencies or other parties including financial advisers as required for the management of the Trust.

The Privacy Act 1988 provides rules for the treatment of personal information and allows you and your employees to access personal information held by the Trust. If any of this information is incorrect, members have the opportunity to correct it. In some circumstances, members may be denied access to information. Our Privacy Officer can assist with any questions regarding privacy.

You can obtain a copy of the Trust’s privacy statement or the full privacy policy and management plan by visiting our website, or writing to the Privacy Officer, Aon Master Trust, GPO Box 9819, Sydney NSW 2001.

Spouse membership Members’ spouses can join Aon Master Trust Personal Super, with investment and insurance options as shown in the Personal Super PDS. The minimum balance required to open an account is $1,500. Spouses pay a 0.5% pa asset administration fee, plus any fee negotiated between them and their adviser. To join, the spouse should send us a completed Personal Super application form, indicating the member spouse’s details where shown.

Family law and super benefits After the breakdown of a marriage, super may be split between the parties, regardless of whose account it is held in. Superannuation can be divided by agreement or by order of the Family Court. To help reach an agreement, an eligible person may make an application for information and/or a superannuation valuation by applying to the trustee.

An ‘eligible person’ in this case includes a member of a super fund, their spouse or a person contemplating a superannuation agreement with the member, eg a fiancé. An eligible person does not include those in de facto relationships. The trustee is entitled to charge a reasonable fee for information and/or valuations. If someone other than the member makes an application, we are prevented by legislation from informing the member.

Family law and superannuation can be complex – seek financial and legal advice if required.

Complaints resolution The Aon Master Trust has a procedure for dealing with member complaints. Complaints should be made in writing to the Inquiries Officer, Aon Master Trust, GPO Box 9819, Sydney NSW 2001. The trustee will consider and respond to complaints within 90 days (final resolution may take longer than 90 days). The trustee will advise of any decision within 30 days of the decision being made.

If members are dissatisfied with the decision of the trustee, they may have a right to lodge a complaint with the Superannuation Complaints Tribunal (SCT). The SCT is an independent body that reviews trustee decisions. The SCT can be contacted by phone on 1300 780 808 or write to Locked Bag 3060, GPO Melbourne Vic 3001.

If the SCT accepts a complaint it will try to resolve it by conciliation. If this is not successful, the SCT may make a binding determination on all parties.

Updating this PDS We may update information in this PDS which is not materially adverse to members by posting the new information on our website. We can provide you and your employees with a hard copy on request.

What to do next

1. Consider joining as an employer

If you choose to join Aon Master Trust Corporate Super, an authorised officer of your company will need to complete an Application agreement form. Please contact us if you require more information about the options shown.

2. Join your employees You can either:

• complete and send us a New member advice and schedule, available from the forms section of our website (we will enrol your employees in the Trust and send each new member a Change member details and options form to complete and return to us)

OR

• ask each of your employees to complete a Change member details and options form (unless joining the Aon Master Trust on a ‘successor fund’ transfer). Copies can be provided to members following receipt of your Application agreement form.

The Change member details and options form is used to obtain personal details, insurance option details, investment option selection and nomination of beneficiaries.

OR

For successor fund transfers: If your employees are transferring from an existing super fund or another master trust, we can negotiate directly with the outgoing service provider to arrange a successor fund transfer if appropriate. In this case, new application forms may not be required.

Customised super solutions

The Aon Master Trust offers employers a choice of superannuation solutions. The standard Corporate Super options described in this PDS are for organisations with 10 employees or over. Organisations with less than 10 employees can join Aon Master Trust Personal Super.

Super funds with over 500 members or total assets of over $5,000,000 may often have special requirements, including defined benefit options, insurance tailoring and employer contribution matching arrangements. We can provide these services and will prepare a schedule to complement the Customised Super application form on page 49 – please contact us for more information.

44

45

1: Employer details

Preferred plan name

Employer name

ABN

Street address

Suburb

State Postcode

Postal address (if other than above)

Suburb

State Postcode

Contact Title (Mr, Mrs, Miss, Ms, Dr)

Contact Name

Position

Email

Telephone

Facsimile

Plan commencement date D D M M Y Y Y Y/ /

2: Categories and contributions

You can specify up to five categories and contribution designs – eg senior managers, staff, casuals etc. Categories B, C, D and E are only required if contributions or benefits differ between categories. Please contact us if you require more than five categories.

Category A

Description/contributions

When are employees eligible to join this category?

Category B (optional)



Category C (optional)



Category D (optional)



Category E (optional)



Page 1 of 4

Employer: Application agreementUse this form to apply to join Aon Master Trust Corporate Super as a participating employer. If you have any questions, call us on 1300 880 588.

Master Trust

3: Investments

Each member may choose an investment strategy from the options described in the Aon Master Trust Corporate Super – Employer Guide Product Disclosure Statement. The default option is Pre-mixed Index Balanced. Please indicate your choice below if you wish to nominate another option.

Nominated default investment option:

4: Resignation and retirement benefits

Equals total account balance.

5: Death-only or death and TPD insurance

If insurance is required, please complete applicable categories below indicating the basis of insured benefits (1A, 2C, 3E or 4F).

Basis of insured benefits

Select one option per category.

The insured benefit in addition to total account balance, is calculated as:

1A = (Variable) x annual salary x future service (years and complete months) to age 65

2C = (Variable) x annual salary

3E = (Variable) (fixed dollar amount)

4F = (Variable) number of units (1 unit of cover costs $60 pa)

Category A

1. Please tick one option.

Death-only Death and TPD No insurance

2. Choose basis of insured benefits (1A, 2C, 3E or 4F)

3. Variable

Category B (optional)




3. Variable

Category C (optional)




3. Variable

Category D (optional)




3. Variable

Category E (optional)




3. Variable

6: Salary continuance insurance

Salary continuance insurance of 75% of taxable salary payable for up to two years, is to apply to the following categories:

Yes No

Category A

Category B

Category C

Category D

Category E

The salary continuance waiting period can be one of the following:(please tick one)

30 days 60 days 90 days

Page 2 of 446

7: Automatic acceptance limit eligibility

An Automatic Acceptance Limit (AAL) is only available where 75% or more of your eligible employees have insurance cover through the Aon Master Trust. (Select the box that applies to the number of eligible employees you have.)

Death and TPD

Number of employees AAL

10–19 $250,000

20–49 $350,000

50–99 $500,000

100–249 $600,000

250–499 $750,000

500+ Customised

Salary continuance

Number of employees AAL (per month)

10–19 $4,000

20–49 $5,000

50–99 $6,000

100–199 $7,000

200–499 $8,000

500+ Customised

8: Fees

Fees must be within the trustee’s minimum and maximum prescribed amounts. Fees applying to the Plan are as follows:

Member fee $60 pa PLUS

Asset administration fee (0.5%–1.1%) %

Insurance brokerage rate (0%–30%) %

Percentage of insurance brokerage as commission to adviser

(0%–70%) %

Death-only, death and TPD and salary continuance premiums that differ from the standard rates shown in this Product Disclosure Statement will be shown in an attached schedule.

9: Costs

Will the employer pay administration and/or insurance costs in addition to the contributions listed in section 2?*

Yes No

Member fee

Asset administration fee Death-only and death and TPD insurance premium

Salary continuance insurance premium

* additional contributions paid by employers for the payment of fees and/or premiums will count towards members’ contributions reported to the Australian Taxation Office.

10: Policy committee

Yes No

Is a policy committee to be established?

If yes, please provide representatives’ names if known (equal numbers of employer and member representatives are required on a policy committee).

Employer representatives:

Member representatives:

11: Privacy

Personal information

The personal information that the Aon Master Trust collects is used to:• process your application and requests• administer your account and provide you and your employees with

benefits and options• conduct research about how to improve Aon Master Trust services

and products.

Unless required or authorised by law, we will only provide your personal information to authorised service providers and other Aon companies who use the information to administer your account and provide services to you.

Marketing material

The Aon Master Trust may send marketing material to members and participating employers about exclusive offers and promotions. If you do not want to receive this material please tick (P) this box:

For more information about privacy, including a copy of the Aon Master Trust privacy policy, call us on 1300 880 588 or visit www.aonmastertrust.com.au

Page 3 of 447

12: Declaration and agreement

To Aon Superannuation Pty Limited, trustee of the Aon Master Trust:

• the employer applies to participate in the Trust

• the employer acknowledges that it has received and understood the Aon Master Trust Corporate Super – Employer Guide Product Disclosure Statement dated 1 January 2007

• in consideration of being admitted to participate in the Trust the employer agrees with the trustee and with each of the members to observe and perform each of the relevant provisions of the trust deed and this agreement.

For use when the employer is a company

The common seal of the employer was af�xed in the presence of:

Director/secretary 1 signature Common seal

Director/secretary 2 signature

Date

D D M M Y Y Y Y/ /For use when the employer is a sole trader/partnership

Signed by

Print name

Date

D D M M Y Y Y Y/ /

Name of witness

Signature of witness

Date

D D M M Y Y Y Y/ /

13: Adviser details – adviser to complete (optional)

If you have appointed a �nancial adviser and wish for information regarding this application to be released to them, please arrange for your adviser to complete this section.

Adviser code

Adviser name

Adviser dealer group

Postal address

Suburb

State Postcode

Telephone

Adviser’s signature

Date

D D M M Y Y Y Y/ /

Page 4 of 4

January 2007 AMT12.1 PDS

Aon Master Trust RSE R1000566Trustee: Aon Superannuation Pty Limited ABN 83 057 982 822, AFSL 237465, RSE L0000437.

Send your completed form to: Aon Master Trust, GPO Box 9819, Sydney NSW 2001

48




XAV GM

1: Employer details

Preferred plan name

Employer name

ABN

Street address

Suburb

State Postcode

Postal address (if other than above)

Suburb

State Postcode

Contact Title (Mr, Mrs, Miss, Ms, Dr)

Contact Name

Position

Email

Telephone

Facsimile

Plan commencement date D D M M Y Y Y Y/ /

2: Categories and contributions

Refer to attached schedule.

3: Investments


4: Resignation and retirement benefits


5: Death-only or death and TPD insurance


6: Salary continuance insurance


7: Automatic acceptance limit eligibility


8: Fees


9: Costs


10: Policy committee

Is a policy committee to be established? Yes No

11: Privacy

Personal information

The personal information that the Aon Master Trust collects is used to:• process your application and requests• administer your account and provide you and your employees with

benefits and options• conduct research about how to improve Aon Master Trust services

and products.

Unless required or authorised by law, we will only provide your personal information to authorised service providers and other Aon companies who use the information to administer your account and provide services to you.

Marketing material

The Aon Master Trust may send marketing material to members and participating employers about exclusive offers and promotions. If you do not want to receive this material please tick (P) this box:

For more information about privacy, including a copy of the Aon Master Trust privacy policy, call us on 1300 880 588 or visit www.aonmastertrust.com.au

Page 1 of 2

Master Trust

Employer: Customised super application agreementUse this form to apply to join Aon Master Trust Customised Corporate Super as a participating employer after discussing your customised requirements with us. Attached schedules may vary conditions described in the Product Disclosure Statement.

49

12: Declaration and agreement

To Aon Superannuation Pty Limited, trustee of the Aon Master Trust:

• the employer applies to participate in the Trust

• the employer acknowledges that it has received and understood the Aon Master Trust Corporate Super – Employer Guide Product Disclosure Statement dated 1 January 2007

• in consideration of being admitted to participate in the Trust the employer agrees with the trustee and with each of the members to observe and perform each of the relevant provisions of the trust deed and this agreement.

For use when the employer is a company

The common seal of the employer was af�xed in the presence of:

Director/secretary 1 signature Common seal

Director/secretary 2 signature

Date

D D M M Y Y Y Y/ /For use when the employer is a sole trader/partnership

Signed by

Print name

Date

D D M M Y Y Y Y/ /

Name of witness

Signature of witness

Date

D D M M Y Y Y Y/ /

13: Adviser details – adviser to complete (optional)

If you have appointed a �nancial adviser and wish for information regarding this application to be released to them, please arrange for your adviser to complete this section.

Adviser code

Adviser name

Adviser dealer group

Postal address

Suburb

State Postcode

Telephone

Adviser’s signature

Date

D D M M Y Y Y Y/ /

Aon Master Trust RSE R1000566Trustee: Aon Superannuation Pty Limited ABN 83 057 982 822, AFSL 237465, RSE L0000437.

Page 2 of 2

January 2007 AMT29.1 PDSSend your completed form to: Aon Master Trust, GPO Box 9819, Sydney NSW 2001

50

XAV GM




51Master Trust

If you or your employees would like advice

on choosing investment options, deciding

on insurance or comparing financial products,

call us on 1300 880 588 for more information

about financial planning services.

Contact us

Phone: 1300 880 588 Fax: 1800 010 435 Email: [email protected] Mail: Aon Master Trust GPO Box 9819 Sydney NSW 2001Web: www.aonmastertrust.com.au

Making financial decisions?

Directory

Administrator Aon Consulting Pty Limited ABN 48 002 288 646 AFSL 236667

Trustee Aon Superannuation Pty Limited ABN 83 057 982 822 AFSL 237465 RSE L0000437

Custodian Services Australian and New Zealand Banking Group Limited ABN 11 005 357 522 AFSL 234527

Insurer American International Assurance Company (Australia) Limited, trading as AIG Life ABN 79 004 837 861 AFSL 230043

Eligible Rollover Fund ABN 54 338 733 881 RSE R1000573 Aon ERF GPO Box 9819 Sydney NSW 2001 Phone: 1300 880 588 Fax: 1800 010 435

Financial Planning Services Aon Wealth Management AFSL 239187 Aon Financial Planning & Protection AFSL 239183

Company Name Address Line 1 Address Line 2 Address Line 3 Address Line 4 www.aon.com.au

Master Trust

AdministratorAon Consulting Pty LimitedPhone: 1300 880 588Fax: 1800 010 435Email: [email protected] Mail: Aon Master Trust GPO Box 9819 Sydney NSW 2001Web: www.aonmastertrust.com.au

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