equip super defined benefits pds

Definedbenefit

Product disclosure statement1 May 2021

Contents

2Your benefits

4Contributions

7Transfers and withdrawals

10Investment options

13Understanding each investment option

14Diversified options

17Sector specific options

20Balancing risk and return

22Fees and costs

27Tax

28Insurance

34General insurance information

35Insurance words and terms

36Enquiries and complaints

This PDS is a summary of significant information. The information provided in this PDS is general information only and does not take into account yourpersonal financial situation or needs. You should consider whether this information is appropriate to your personal circumstances before acting on it and,if necessary, you should also seek professional financial advice tailored to your personal circumstances. Where tax information is included you shouldconsider obtaining personal taxation advice.

This PDS was up to date at the time it was prepared. Some information in this PDS is subject to change from time to time. If a change does not adverselyaffect you, we may update the information by notice on our website, toyotasuper.com.au and/or inclusion in the next available edition of our newsletter.You can find updated information by logging into the members area of our website or calling our Helpline 1800 700 884. A paper copy of updated informationwill be given to you without charge on request.

Togethr Trustees Pty Ltd ABN 64 006 964 049, AFSL 246383 ("the Trustee") is the Trustee of the Equipsuper Superannuation Fund ABN 33 813 823 017("Equip").

Toyota Super category 2D

https://www.toyotasuper.com.au

Your benefitsYour employer’s fund is a defined benefit fund, which means your superbenefits are calculated using various formulae described later in thisguide.

Any benefits paid to you are usually the sum of your defined benefitand any additional accumulation account you have. You may have anadditional accumulation account balance from making extracontributions, discussed in the contributions section of this guide.

The benefits described in this section will be reduced by the value ofany offset accounts you have, such as for surcharge or family lawpayments.

Benefit summary

DescriptionBenefit

A lump sum payable when youleave your employer before age55 and are not entitled to anyother benefit.

Leaving service

A lump sum payable when youretire from your employerbetween age 55 and 65 and arenot entitled to any other benefit.

Retirement

A lump sum payable when youleave your employer after age 65.

Late retirement

A lump sum payable if youremployer advises Equip that youhave been terminated on thegrounds of ill health before age65.

Ill-health

A lump sum payable to yourdependants or estate in the eventof your death.

Death

A lump sum payable if you retireas a consequence of being totallyand permanently disabled.

Total and permanent disablement(TPD)

Also known as income protection,provides you a monthly incomefor up to two years if you'reinjured or ill and aren't able towork.

Salary continuance (SC)

Defined terms

The terms below are used to describe how we calculate your benefits.

Accrued Retirement Multiple (ARM)

Your ARM is calculated by multiplying your membership period by12.5%. Your membership period is measured in years and completemonths until the date you leave employment. Your ARM for the periodprior to 1 May 2021 was calculated by Toyota Super and advised toEquip.

Annual Salary

Your Annual Salary is your base salary.

Final Average Salary (FAS)

Your FAS is calculated as the average of your annual salaries over thethree years preceding the calculation date. If you joined Toyota Superprior to 1 February 1990 then this is subject to a minimum of the averageof your annual salaries at the three review dates, being 1 July, precedingthe calculation date.

Future Service Multiple (FSM)

Your FSM is calculated by multiplying the years and complete monthsof prospective membership (from the date of calculation) until the dateyou turn 65 by 12.5%.

Member Account

Your Member Account is the value of any contributions you've madetowards your defined benefit, along with investment returns (whichmay be positive or negative). These are the contributions you're requiredto make towards your defined benefit (discussed on page 4) and notany voluntary contributions you or your employer have made to youradditional accumulation account. Your Member Account will be investedin the Equip Balanced Growth option while you're under age 50, andthen the Equip Conservative option after age 50.

Minimum Requisite Benefit (MRB)

Your MRB is a benefit we calculate based on instructions from an actuaryto ensure the benefit you receive as a defined benefit member is notless than the benefit you may have received had you been anaccumulation member receiving superannuation guarantee (SG)contributions.

How we calculate your benefits

Leaving service benefit

If you leave your employer before age 55 you will receive a lump sumbenefit calculated as the sum of:

2 x your Member Account, and

your additional accumulation account

Any leaving service benefit we calculate for you is subject to your MRB.

Retirement benefit

If you retire from your employer between age 55 and 65 you will receivea lump sum benefit calculated as the sum of your:

ARM x FAS, and

additional accumulation account

Your retirement benefit is subject to a minimum of your leaving servicebenefit and MRB.

Late retirement benefit

Once you reach age 65, your defined benefit will cease to accrue andwill be transferred as a lump sum into an accumulation account. Yourlump sum benefit is calculated in line with the retirement benefitdescribed above. Upon transfer, it will be invested in your choseninvestment option or, if you haven't chosen an investment option, theEquip MySuper option.

Ill-health benefit

If you leave your employer before age 65 due to ill health, then youwill receive a lump sum benefit calculated in the same way as yourretirement benefit. You may not be able to withdraw your benefit untila condition of release has been met.

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Salary continuance benefit

If you're under 65 and have salary continuance (SC) cover, also knownas income protection, you may receive a monthly income if you'reinjured or ill and aren't able to work. Salary continuance benefits arepayable for up to two years, after a waiting period of either 30, 60 or90 days. Your employer pays the cost of SC cover with a waiting periodof 90 days for you. You can find more information about SC benefitslater in this guide.

Death or total and permanent disablement (TPD) benefit

If you die or are totally and permanently disabled beforeage 65

You will receive a lump sum benefit calculated effective the date youdie or become disabled as the sum of your:

(ARM + FSM) x FAS at the date of death or disablement;

additional accumulation account; and

additional voluntary death or TPD cover, if applicable.

Your death or TPD benefit is subject to a minimum of your leavingservice benefit, retirement benefit (if over age 55), and MRB.

Part of your death and TPD benefit described above may be insuredthrough an insurance policy between Equip and Hannover Life Re ofAustralasia Ltd (ABN 37 062 395 484; the insurer). The cost of anyinsurance cover to support your defined benefit (also known as basiccover) is paid by your employer. If the insurer imposes limitations orconditions on the cover Equip holds for you, or if we don’t receivepayment from the insurer, then your benefits may be reduced.

If you die or are totally and permanently disabled on orafter age 65

You will receive a lump sum benefit calculated in the same way as yourlate retirement benefit.

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ContributionsThe contributions you and your employer make are the building blocksof your super. Understanding the types of contributions that you canmake will help you maximise the tax benefits and your retirementsavings.

How defined benefits are funded

Your defined benefit is funded through a combination of contributionsmade by your employer, and the contributions you are required to makewhile you're a defined benefit member.

How much your employer needs to contribute

Your employer contributes to the fund to finance your defined benefitsand the level of their contributions will vary depending on the fundingposition of the plan as periods of good investment returns may reducethe level of contributions your employer needs to make.

We monitor defined benefit funding levels on an ongoing basis andadvise your employer of the contributions required to maintain anappropriate level of funding. We have established a contribution andfunding policy for defined benefit plans which sets, reviews andmaintains a realistic benchmark.

We may not be able to pay your full benefit to you if funding levels arenot appropriately maintained.

How much you need to contribute

While you are a defined benefit member, you need to contribute 5%of your annual salary towards your defined benefit. Your employer willautomatically deduct this amount from your pay, or may choose tomake these contributions on your behalf.

You can choose to make contributions over and above 5%, but thesecontributions will be allocated to your additional accumulation accountand will not increase your defined benefit.

Additional accumulation account

If you want to increase the amount of money you have in retirement,you can make additional contributions, on an after-tax or before-tax(salary sacrifice) basis, to Equip. The investment options available aredetailed later in this guide.

Please contact your employer’s payroll department if you wish to makeregular additional contributions to Equip.

Your total super balance

The concept of the total superannuation balance commenced from1 July 2017 as a way to value all your super interests on a given date.Your total superannuation balance will be relevant when working outyour eligibility for the following items, all described later in thisdocument:

the unused concessional contributions cap carry-forward;

the non-concessional contributions cap and the two or three yearbring-forward period;the government co-contribution;

the tax offset for spouse contributions.

Your total superannuation balance will generally be calculated at theend of 30 June of the previous financial year. You can find moreinformation on the ATO website, ato.gov.au, and view your totalsuperannuation balance online at myGov, my.gov.au

Before-tax (concessional) contributions

Before-tax contributions are usually employer or salary sacrificecontributions made from your income before tax has been applied.Before-tax contributions are generally taxed at 15% when Equip receivesthem, which may be lower than your marginal income tax rate.

Employer contributions

As a defined benefit member, concessional contributions include yournotional taxed contributions (NTCs), described below, as well as anyother genuine employer contributions or payments required under anaward or a workplace agreement.

Salary sacrifice contributions

If your employer allows it, you can choose to make salary sacrificecontributions out of your before-tax pay. This means that part of yourtaxable income decreases by the amount you contribute to super, whichmay result in you paying a lower rate of income tax.

Notional taxed contributions (NTCs)

Each year, notional contributions, referred to as notional taxedcontributions (NTCs), are calculated based on a formula set down inlegislation. The NTCs are calculated as a percentage of your salary at1 July. The NTCs are important as they count towards your concessionalcontributions cap and allow you to work out what additional before-taxcontributions you can make before extra tax applies.

Your NTCs are deemed to take into account all costs associated withyour defined benefit account that are funded by your employer as wellas any contributions you make towards your defined benefit on abefore-tax (salary sacrifice) basis.

How we calculate your NTCs

Your NTCs are calculated using this formula:

1.2 x (New entrant rate x S x D – M)

Where:

S means your superannuation salary at the start of the financial year,1 July.

D means the number of days that your benefit accrued in the financialyear, divided by 365.

M means the after-tax contributions you make towards your definedbenefit during the financial year.

New entrant rate is 9% (if you don't receive 3.5% productivitycontributions) or 11% (if you receive 3.5% productivity contributions).This rate may change in the future.

Personal contributions (where you claim a tax deduction)

If you made a voluntary after-tax contribution to your super but notifyus that you intend to claim a tax deduction for it, then we will deduct15% tax on the amount you are claiming as a deduction. Any amountyou are claiming as a tax deduction will also count towards the limitson concessional contributions, and towards the threshold for Division293 tax, both described below.

Limits on before-tax (concessional) contributions

There is an annual limit, known as the concessional contributions cap,on before-tax contributions per financial year. The limit is $25,000 forthe 2020/2021 financial year. Before-tax contributions made above thislimit may attract additional tax, discussed later in this guide.

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Carry-forward of unused concessional contributions cap

If your total super balance is less than $500,000 you can carry forwardthe unused portion of your concessional contributions cap on a rollingbasis over five years. This means that you may be able to receivebefore-tax contributions of more than $25,000 in certain years withoutincurring additional tax. You can find more information on thecarry-forward of the unused concessional contributions cap at the ATOwebsite, ato.gov.au/super

Notional taxed contributions count towards your limit

The notional taxed contributions that we calculate for your definedbenefit each year will count towards your overall concessionalcontributions cap.

In most cases, your notional taxed contributions cannot exceed yourconcessional contributions cap, however there are circumstances inwhich this does not apply. You’ll be able to find information on thenotional taxed contributions calculated for you on your annual benefitstatement.

Tax on before-tax (concessional) contributions

Before-tax contributions are generally taxed at 15% when Equip receivesthem, which may be lower than your marginal income tax rates.

If we don’t have your Tax File Number (TFN)

If we don’t have your TFN, then your before-tax contributions are taxedat the highest marginal income tax rate, rather than 15%.

Excess concessional contributions

Before-tax contributions we receive for you above the concessionalcontributions cap are known as excess concessional contributions. Yourexcess concessional contributions will form part of your personalassessable income and be taxed at your marginal income tax rate. TheATO will also apply an excess concessional contributions charge on topof the extra income tax you will pay.

If you have excess concessional contributions for a financial year, theATO will write to you with your options. Generally, you can choose to:

a) withdraw up to 85% of the excess concessional contributions tohelp pay the tax; or

b) pay the tax out of your own money outside super.

You can find more information on excess concessional contributionsat ato.gov.au/super

Low income super tax offset

The low income super tax offset (LISTO) is a government initiative tohelp low income earners increase their savings for retirement byrefunding the tax on concessional contributions made by you or youremployer.

If you are eligible and your adjusted taxable income is $37,000 or below,the government will calculate a refund of the tax paid on concessionalcontributions you or your employer have made, up to a maximumrefund of $500. The government will credit this refund to your accountand you’ll be able to see it on your next annual member statement orby logging into our website, toyotasuper.com.au

Division 293 tax for high income earners

If your income, including the concessional contributions made by youor your employer, is more than $250,000, then an additional tax, knownas Division 293 tax, will apply to you. Division 293 tax is generally anextra 15% on your concessional contributions. The ATO calculatesDivision 293 tax based on your income tax return and the informationwe provide to them and they will write to you if you owe additional tax.

You can usually choose to pay the extra tax yourself or have it paidfrom your super account. You can find more information on Division293 tax at ato.gov.au/super

After-tax (non-concessional) contributions

After-tax contributions are contributions made after tax by you or yourspouse and can include some self-employed contributions. Becausetax has already applied outside super, non-concessional contributionsare not taxed again when paid into your super.

If you’re 75 or over, we can’t accept any after-tax contributions for youand if you’re between 67 and 74 then we can generally only acceptafter-tax contributions for you if you meet the work test in the samefinancial year. The work test is described later in this guide.

We also can’t accept after-tax contributions for you if we don’t haveyour TFN recorded.

Personal contributions (where you don’t claim a taxdeduction)

Personal contributions are any contributions made out of your after-taxincome or savings.

Most people under 75 years old will be able to claim a tax deductionfor personal contributions (including those aged 67 to 74 who meet thework test).

You can make personal contributions by BPAY or use the Make a personalcontribution form available on our website.

Note that if you intend to claim a tax deduction for a personalcontribution, you need to advise us of the amount by sending us aNotice of intent to claim a deduction for personal super contributionsform within the required timeframe, available from the ATO website,ato.gov.au, or by calling 13 10 20. We need to respond in writingacknowledging your intention. The contributions that you claim as adeduction are treated as concessional contributions and will counttowards your concessional contributions cap, discussed earlier in thisdocument.

Spouse contributions

A spouse contribution is an after-tax contribution made by your spouseinto your account. If you earn less than $40,000 a year (includingreportable fringe benefits and your employer super contributions), yourcontributing spouse may be eligible to claim an income tax offset of18% on the first $3,000 of any contributions they made for you. Themaximum tax offset is $540.

Note that spouse contributions made for you count towards yournon-concessional contribution limit, not your spouse’s (see the "Limitsto the non-concessional contributions" section).

If you intend to make a contribution to your spouse’s super account,you should consider the information on spouse contributions availableon the ATO website, ato.gov.au/super and use the Make a spousecontribution form available on our website.

Downsizer contributions

If you’re 65 or over, you may be eligible to make a one-off after-taxcontribution of up to $300,000 to your super within 90 days of receivingthe proceeds of selling your main residence.

Eligible members need to return the Downsizer contribution into superform to us with their contribution. You can find more information anddownload the form at ato.gov.au/super or on our website.

The work test doesn’t apply to downsizer contributions and they won’tcount towards your non-concessional contribution limit. Any downsizercontributions you make will count towards your total super balance.

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Limits on after-tax (non-concessional) contributions

If your total super balance is below $1.6 million at the end of the priorfinancial year, a limit of $100,000 applies to the amount of non-concessional contributions made to your account. If your total superbalance is $1.6 million or more, your non-concessional contribution capis nil. Before-tax contributions made above your limit may attractadditional tax, discussed later in this guide. Note that the values shownare for the 2020/2021 financial year and are subject to change.

Bring forward of your non-concessional contributions cap

If you are under 65, you may be able to bring forward up to three years’worth of contribution limits and make contributions of up to $300,000in one year; this will reduce the amount of contributions you can makefor the remainder of the three year period. The amount of unused non-concessional contribution cap you can bring forward depends on yourtotal superannuation balance on 30 June of the prior financial year.

The non-concessional contribution limits for members under 65 areillustrated in the table below.

Contribution and bringforward available

Total superannuationbalance

Access to $300,000 cap (threeyears)

Less than $1.4 million

Access to $200,000 cap (twoyears)

$1.4 million to $1.5 million

Access to $100,000 cap (one year)$1.5 million to $1.6 million

Nil$1.6 million or greater

Tax on after-tax (non-concessional) contributions

Because tax has already applied outside super, non-concessionalcontributions are not taxed again when paid into your super, butadditional tax will apply if you exceed your non-concessionalcontributions cap.

Excess non-concessional contributions

After-tax contributions we receive for you above your non-concessionalcontributions cap are known as excess non-concessional contributions.The ATO will write to you if you have made excess non-concessionalcontributions and explain your options. Generally, there are two waysfor dealing with excess non-concessional contributions:

a) you may be able to withdraw the excess non-concessionalcontributions and up to 85% of the associated earnings, but theywill be included in your assessable income and taxed at yourmarginal income tax rate, or

b) you may leave the excess non-concessional contributions in yoursuper account where they will be charged at the highest marginalincome tax rate.

You can find more information on excess non-concessional contributionsat ato.gov.au/super

When we can receive contributions to your account

All kinds of contributions can be made to your Equip account, includingemployer, salary sacrifice, after-tax and spouse contributions, but thereare special rules around when we can receive a contribution if you’re67 or over.

Age 75or over

Age 67 to74

Underage 67

Contribution type

YesYesYesSG or Award employercontribution

NoYes*YesAdditional employercontribution (non- SG orAward)

NoYes*YesPersonal after-taxcontribution

NoYes*YesPersonal tax deductiblecontribution

NoYes*YesSpouse contribution

* Subject to meeting the requirements of the work test. For spousecontributions, the age and work test requirements apply to your spouse.

The work test

To satisfy the work test you must have worked at least 40 hours withina period of 30 consecutive days during the financial year in which thecontribution is paid.

If you're between age 67 and 74, we may be able to accept personalcontributions from you for an extra 12 months from the end of thefinancial year in which you last met the work test, but only if your totalsuper balance is less than $300,000.

The Government co-contribution

If you are eligible, the government will make a co-contribution of upto 50 cents for every after-tax dollar you contribute to your super. Themaximum co-contribution is $500 if your total income is $39,837 orless. The amount of the co-contribution reduces for every dollar youearn over $39,837 and cuts out completely at $54,837. Note that thevalues shown are for the 2020/2021 financial year and are subject tochange.

If you are eligible, your co-contribution amount will be automaticallycalculated and deposited into your super account by the ATO afteryou’ve lodged your tax return. The co-contribution is treated as a non-concessional contribution, however, it does not count towards yournon-concessional contributions limit. You can find out whether you areeligible on the ATO website, ato.gov.au/super, or by calling 13 10 20.

Contribution splitting

Contribution splitting allows you to transfer a portion of the additionalvoluntary before-tax (concessional) contributions you’ve made in theprevious financial year to your spouse’s super account. You can onlysplit contributions once in a particular financial year, and you have until30 June every year to request the splitting of contributions made in theprevious financial year.

You can split the lower of:

85% of your concessional contributions, and

your concessional contributions cap for the financial year.

Note that contributions made towards your defined benefit cannot besplit.

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Transfers and withdrawalsWhat happens when you leave your employer

Upon leaving your employer, your benefit will cease to be a definedbenefit. Once your employer notifies us that you have ceasedemployment, we will calculate your final defined benefit and write toyou with details of your options.

While we wait to receive your instructions, we will invest the value ofyour defined benefit in the Equip Cash investment option describedlater in this document. Your accumulation account will continue to beinvested in the same investment options, unless you make aninvestment switch.

If we don't receive instructions from you regarding your benefit whenyou leave your employer, we will transfer your account to anaccumulation account in Toyota Super after 35 days.

What happens if you retire

You can access your superannuation once you have reached yourpreservation age and have permanently or partially retired. You maychoose to keep your super account with Equip, or withdraw your benefitas a lump sum or use it to start a pension or annuity.

You can find more information on Equip’s pension products atequipsuper.com.au/retirement

Transferring your other super into Equip

Consolidating your super (also known as a rollover) means you onlypay one set of fees and you may be able to more easily manage andmonitor your super. If you have money invested in other super fundsand would like to roll that money into Equip, the easiest way to do thisis to log into your account at toyotasuper.com.au to instantly locateand transfer your other super electronically.

You can also complete the Roll your super into Equip form available fromour website or contact Helpline on 1800 700 884.

We charge no fees for rolling your superannuation into Equip. Youshould, however, be aware that you may lose any insurance cover youhave with your other super funds for withdrawing your superannuationto move it into Equip. Before transferring, you may want to obtainfinancial advice.

Transferring to accumulation

You have the option of ceasing your defined benefit at any time andtransferring your benefit to an accumulation account. Once you transferout of defined benefit, you are unable to return – it’s a permanenttransfer.

The amount of the benefit transferred will depend on your age andwhether you are eligible for the leaving service or retirement benefit.If you are considering transferring to accumulation, please contactHelpline 1800 700 884. You will receive detailed information outliningyour options and the arrangements if you don’t make choices upontransfer.

Any surcharge liability you have at the time of transfer will be deductedfrom the benefit that is transferred. Any future surcharge assessmentswill be deducted directly from your accumulation account.

Transferring from Equip to another super fund

You can request to transfer all or part of your additional accumulationaccount to another fund at any time. You can't transfer your definedbenefit to another fund, so you would need to request to become anaccumulation member if you wanted to transfer your entire benefit toanother super fund.

When you can withdraw your benefits

The government has placed restrictions on when you can withdrawyour superannuation benefits. Your superannuation benefits may bedivided into three amounts:

preserved

restricted non-preserved

unrestricted non-preserved

Preserved amounts

Preserved amounts always belong to you, but may not be withdrawnunless you satisfy one or more of the following criteria (conditions ofrelease):

you have ceased employment on or after age 60;

you have reached age 65;

you have retired permanently from the workforce and have reachedyour preservation age (refer to following table);you die or become totally and permanently incapacitated (as definedin the legislation);you have a preserved benefit of less than $200;

you are an eligible temporary resident departing permanently fromAustralia;you have a terminal medical condition (as defined in the legislation);oryou can demonstrate financial hardship or the ATO approves arelease of your benefit on compassionate grounds.

Different rules apply for the release of your super if you are a temporaryresident. You can find more information on Departing AustraliaSuperannuation Payments (DASP) in this guide and on the ATO website,ato.gov.au/super

Under transition to retirement rules, you may be able to access yourpreserved benefits via a pension once you have reached yourpreservation age, even if you are still working.

What is your preservation age?

Preservation ageDate of birth

55Before 1 July 1960

561 July 1960 - 30 June 1961

571 July 1961 - 30 June 1962

581 July 1962 - 30 June 1963

591 July 1963 - 30 June 1964

60From 1 July 1964

Restricted non-preserved amounts

Restricted non-preserved amounts may only be withdrawn if youterminate employment or meet one of the conditions of releasedescribed above.

Unrestricted non-preserved amounts

Unrestricted non-preserved amounts may be paid to you in cash at anytime.

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When we may automatically transfer your account out ofEquip

If mail sent to your last known address is returned at least twice, or ifwe have never had an address for you, we must notify the ATO thatyou are a lost member. The ATO will add your name to the Lost MembersRegister, where you can obtain information about any super accountsin funds that have lost contact with you.

If your benefit becomes ‘unclaimed money’ (as defined insuperannuation legislation), your benefit may be transferred to theATO, where it is held on your behalf until you claim it.

In general, your benefit becomes unclaimed money if:

you are a temporary resident and have not claimed your benefitwithin six months of leaving Australia; oryou have reached age 65 and not instructed us about your benefit,we have not received any amounts into the fund for you for at leasttwo years, and we have not been able to contact you for five years;oryou have died and your account has been inactive for at least twoyears and we are unable to ensure that your benefit is received bythe persons entitled to receive it; oryou meet the definition of being a lost member and either:

the balance of your account is less than $6,000; oryour account has been inactive for at least 12 months and we donot believe it will ever be possible to pay the benefit to you.

Temporary residents permanently departing Australia

If you entered Australia on any temporary visa which has expired orbeen cancelled, you are eligible to access your super benefit, and canapply for a Departing Australia Superannuation Payment (DASP) fromthe ATO website, ato.gov.au/super

If you aren’t an Australian permanent resident or a New Zealand citizenand don’t lodge a DASP request within six months of leaving Australia,we are required to transfer your benefit to the ATO. We will not providean exit statement to you when your benefit is transferred to the ATO(we rely on regulatory relief from the Australian Securities andInvestments Commission (ASIC) for this purpose). We will, however,provide information about your benefit if you enquire about it in thefuture. You can then apply to the ATO for your benefit, less DASP taxof up to 65%.

The First Home Super Saver Scheme

The First Home Super Saver Scheme allows you to withdraw up to$30,000 of your personal or salary sacrifice contributions and deemedearnings from your super to help purchase your first home. The schemeis administered by the ATO and you can find more information atato.gov.au/super

Any taxes on investment returns or capital gains are deducted beforeearnings are applied.

Family Law and your super

Couples who divorce or separate are able to divide their superentitlements, including pensions, as part of their property settlements.These Family Law rules apply to legally married couples, couplesregistered under State or Territory law, and genuinely separated couples(including de facto couples).

We recommend you seek advice from a licensed financial advisor beforefinalising an agreement involving your superannuation benefit, as theremay be tax, social security and other financial implications arising fromsplitting your superannuation entitlements.

To request information on splitting superannuation assets, pleasecontact Helpline on 1800 700 884.

Early access to your super due to financial hardship orcompassionate grounds

You may be able to access some of your benefits before you retire if:

you have received Commonwealth income support payments for atleast 26 consecutive weeks and are unable to meet immediate familyliving expenses (the financial hardship application form is availablefrom toyotasuper.com.au); orthe ATO approves the payment on specified grounds (e.g.compassionate grounds).

If you are terminally ill

A benefit, including your additional accumulation account balance, maybe paid to you if:

two doctors (jointly or separately) certify that you are suffering froman illness or injury that is likely to result in your death within a periodthey certify, but no longer than 24 months from the date ofcertification; andat least one of the doctors is a specialist in the area of your illness.

Equip will assess all terminal illness claims.

If you are disabled

You may receive your super benefit if you become and are assessed byEquip as being totally and permanently disabled (TPD) or permanentlyincapacitated. You may also be eligible to claim any disability insurancecover you have with Equip. You can find more information on anyinsurance you have with Equip in our Insurance in your super guide.

If you are temporarily disabled and have salary continuance cover(income protection) in Equip you may claim income benefits, but thepreservation rules will continue to apply to your super benefit.

Please contact our Helpline on 1800 700 884 if you are suffering froma disability.

If you die

If you die, we will pay your super to your dependants or your legalpersonal representative (i.e. your estate).

A dependant includes:

your spouse (including a person who is legally married to you, aperson with whom you have a relationship registered under Stateor Territory law or a person with whom you live on a genuinedomestic basis in a relationship as a couple); oryour children (of any age including natural, adopted, step or ex-nuptial children and children of your spouse); ora person whether related to you or not, who in the opinion of Equip,is or was at any relevant time wholly or partially financiallydependent on you; ora person in an interdependency relationship with you.

An interdependency relationship is:

a close personal relationship where two people live together, andone or each of you provide the other with financial support, anddomestic support or personal care; ora close personal relationship exists but the other requirements forinterdependency are not satisfied because of a physical, intellectualor psychiatric disability that requires a person to live in an institution.

Legal personal representative

Your legal personal representative is the person or organisation that:

you appoint as the executor of your estate; or

is appointed as an administrator of your estate if you do not havea valid will.

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Minor children

Where a minor child is entitled to a death benefit payment, we maydirect that money be paid into a trust set up on the child’s behalf.

Binding death benefit nominations

As an Equip member, you can direct us to pay your death benefit toone or more of your dependants and/or legal personal representativeby completing a valid Death benefit nomination form available from ourwebsite, toyotasuper.com.au, or Helpline 1800 700 884.

A binding death benefit nomination will only be valid if you completethe form correctly and your nominated parties either meet the definitionof a dependant under superannuation law or are a properly appointedlegal personal representative.

Binding nominations will only be valid for three years so we’ll ask youto confirm your nomination at least once every three years. You can,of course, change your nomination at any time by correctly completinga valid form.

Non-binding death benefit nominations

If you don’t make a binding death benefit nomination or you don’tcomplete the nomination form correctly, Equip will make the decisionabout how to distribute your death benefit, but will take into accountany non-binding beneficiary nomination you’ve made.

You can make a non-binding death benefit nomination by logging intoour website, toyotasuper.com.au or by using the Death benefitnomination form.

What happens when we are notified of your death

When Equip is notified that you have died, we will switch your additionalaccumulation account into the Equip Cash option. We take this approachto ensure as much as possible that the benefit for your dependants orestate is not reduced by any short-term negative investment returnsbefore we pay your benefit. If you have death cover in Equip, anyproceeds we receive from the insurer will also be invested in the EquipCash option when we receive it.

Processing your withdrawal or transfer payment

The time taken to process a withdrawal or transfer (benefit payment)request can vary due to a number of factors, including the nature ofyour request (for example, whether your request relates to a partialpayment or the whole of your account balance).

Under legislation, rollover or transfer of withdrawal benefits must becompleted within three business days after all required informationhas been received. In some cases, Equip may require additionalinformation in order to process your benefit payment. For example, forpartial benefit payments we require instructions relating to the amountto be paid and to whom. We are required to request any additionalinformation within 10 working days of receiving your benefit paymentrequest. Your benefit will be calculated using the unit price effectiveon the date the benefit payment is processed, not the date your requestis lodged. You should consider this when submitting a request forpayment.

Anti-money laundering and counter-terrorism financinglegislation

The Government has enacted anti-money laundering and counter-terrorism financing legislation that requires stricter customeridentification and verification procedures for the payment ofsuperannuation benefits. You will be advised of those requirementswhen you request a benefit payment. If you do not provide therequested information, your benefit payment may be delayed or evenrefused.

9



Investment options! You can obtain the most recent investment returns and

daily unit prices from our website or request informationfrom our Helpline.

Your investment choice

If you have an additional accumulation account, you can invest in oneof our five Diversified options, each with asset allocations determinedby us, or, if it suits your investment plan, you can choose anycombination of our Diversified and/or Sector Specific investmentoptions.

The default option

If you don’t make an investment choice using the Member options form,your additional accumulation account will be invested in the BalancedGrowth option.

You can switch your options at any time by logging into the securewebsite, by completing the Change your investments form, or by callingHelpline on 1800 700 884.

Investment principles

Before you select any investment options, you need to:

assess your own individual needs and objectives; and

work out your own attitude to investing.

The information provided in this section is general advice. It has beenprepared without taking into account your investment objectives,personal circumstances, and particular needs.

You should speak to a licensed financial planner who can help youachieve your financial goals within your own risk tolerance.

Note that the value of investments can go up and down. Pastperformance is not necessarily indicative of future performance.

There are four important investment fundamentals that you might wantto take into account when making your investment selection:

1. Risk tolerance

Investment risk refers to the likelihood of negative returns and loss ofcapital over various timeframes. Generally, growth assets such as sharesand property are more volatile and their values may fluctuate widely,particularly over the short term. Defensive assets, such as fixed interestand cash, are generally less volatile and fluctuate less in value thangrowth assets.

How much volatility you are prepared to accept will depend on yourown attitude to investments, your previous experiences, your investmenttimeframe and your life expectancy (among other things). Your riskprofile will greatly influence your investment selection and theweightings in growth and defensive assets (asset allocations).

2. Risk versus return

Generally, growth assets may outperform defensive assets over thelong term, but have a higher degree of risk (negative returns) along theway. Defensive assets generally provide a lower rate of return, but areless risky, and historically less volatile.

3. Diversification

Diversification is a method of reducing investment risk. It meansspreading your investments both across, and within, asset classes.

The principle is that the more you diversify, the more you may be ableto reduce investment risk. It is important to understand that there is alevel of risk with all investments, and you can never totally removeinvestment risk.

4. Timeframe to invest

It is important to work out your investment timeframe. Generally,defensive asset allocations are better suited to short-term investmenttime frames. However, superannuation is generally seen as a long terminvestment.

Your strategy

An important part of successful investing is to set a strategy for the longterm and regularly monitor investment performance to ensure it ismeeting your personal objectives. Before making any decisions aboutinvesting your money, you should seek advice on this from a licensedfinancial advisor.

Changing your investment options

You can switch your investments at any time by logging into themembers' area of our website toyotasuper.com.au, callingHelpline 1800 700 884, or by completing the Change your investmentsform. You can switch some or all of your account balance (by nominatingpercentages), and/or future contributions.

If we receive your request to switch your investments prior to 4pmMelbourne time on a Melbourne business day, it will be effective usingthe unit prices for that day. If your request is received after 4pm on aMelbourne business day, or on a weekend, then the change will beeffective the next business day.

Frequent switching between investment options and trying tosecond-guess the market can be risky. You should switch only after athorough review of your long-term investment strategy. We recommendyou obtain financial advice before making any decisions about switchingbetween investment options.

Unit prices

When you invest with Equip, your money buys a number of units ineach of your nominated or default investment options.

Unit prices go up and down according to investment performance andthe unit price of an investment option will fluctuate to reflect investmentearnings (which can be positive and/or negative) and deductions forinvestment fees, costs and taxes. These movements are ultimatelyreflected in your account balance.

Our latest unit prices are usually updated on our website by 10am onthe second business day after the business day on which they arecalculated. Unit prices are not calculated for weekends or Melbournepublic holidays.

The publication of unit prices might be delayed as a consequence ofabnormal market conditions or system failures. In such circumstances,Equip will use its best endeavours to publish unit prices as soon aspossible.

Unit prices are calculated after an estimate of investment fees and taxesare taken out. These estimates will be adjusted as information becomesavailable for the calculation of future prices.

When you exit from Equip, your units are sold at the applicable unitprices available on the date your transaction is processed.

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What happens if we make a mistake when calculating unitprices?

Although we have controls in place to check for unit pricing errors,occasionally they may occur. Equip follows industry practice if an erroris made. Interested members can view FSC Standard No.17 on theFinancial Services Council website at fsc.org.au

Managing your investments

Equip’s Investment Committee, comprised of directors and externaladvisors, sets the strategy and manages our investments.

External investment managers are used to provide members with theadvantages of different investment management styles.

Different styles enable us to identify and take advantage of diverseopportunities with the potential to enhance returns to members andto manage risk.

You can find a list of our current investment managers on our websitetoyotasuper.com.au

11

https://fsc.org.au


Sustainable Responsible Investment Option

Equip members can access Sustainable Responsible Investments (SRI)via a Sector Specific option that almost entirely invests in Australianshares.1 The investments of the option comprise a portfolio run by Equipwhich replicates the Dow Jones Sustainability Index Australia2, an indexestablished and tracked by RobecoSAM. The option utilises the DowJones Sustainability Index Australia, a float-adjusted market capitalisationweighted index which is comprised of approximately 70 companiesselected by RobecoSAM from a universe of approximately 200 of thelargest Australian listed companies.

The companies selected by RobecoSAM for inclusion in the Dow JonesSustainability Index Australia are assessed as leading their industrypeers in terms of sustainable business practices. The Dow JonesSustainability Index Australia is designed to create a portfolio thatcaptures the performance of Australia’s sustainability leaders withcharacteristics similar to those of the broader Australian equity market(as represented by the S&P/ASX 200 Index).

How the Dow Jones Sustainability Index Australia works

The Dow Jones Sustainability Index Australia includes leading stocks interms of sustainable business practices from approximately 21RobecoSAM Dow Jones Sustainability Index Australia industry sectors.The Dow Jones Sustainability Index Australia is reviewed annually andrebalanced quarterly to ensure that the index composition accuratelyrepresents the top 30% of the leading sustainable Australian companiesin each of the 21 Dow Jones Sustainability Index Australia sectorsrespectively. Most companies have a primary listing on the AustralianSecurities Exchange (ASX) but others may be included if they haveadequate liquidity on the ASX and have a significant part of theirbusiness operations in Australia.

The process used by RobecoSAM to select companies for the Dow JonesSustainability Index Australia is called the corporate sustainabilityassessment. This is a proprietary methodology designed to scorecompanies in terms of corporate sustainability with a focus on theirranking within industry sectors. RobecoSAM carries out the corporatesustainability assessment by asking ASX listed companies (excludinginvestment companies) to complete a questionnaire and providesupporting documentation. RobecoSAM also uses publicly availableinformation and data and carries out media and stakeholder analysis.The media and stakeholder analysis involves RobecoSAM analystsreviewing final assessments and scores to determine if they are fairand accurate given more recent developments and news.

The criteria and weightings which RobecoSAM uses to assess and ratecompanies in terms of corporate sustainability include both generaland industry specific criteria, and cover the economic, environmentaland social or labour dimensions outlined on the right.

Economic

Economic criteria not only reflect the financial robustness, strategicplanning processes and governance but also how a company adapts tochanging market demands, sustainability trends and macro-economicdriving forces. These criteria measure a company’s ability to make useof the economic benefits from sustainability opportunities and risks.

Environmental

Environmental criteria cover the environmental management andperformance of a company. These criteria measure a company’s effortsto reduce and avoid environmental pollution.

Social and labour

Social criteria cover both internal (employee relations and labourpractices) and external (stakeholder and community relations) aspects.Social criteria are based on worldwide minimum standards and bestpractices and also take into account the manner in which companiesdeal with human rights issues internally, in their supply chain and inthe communities in which they operate.

Weighting and portfolio construction

The weighting given to economic, environmental and socialconsiderations can vary substantially over time and across industries.Based on major global sustainability challenges identified byRobecoSAM’s analysts, general criteria relating to standard managementpractices and performance measures, such as corporate governance,human capital development and risk and crisis management, are definedand applied to each of the sectors. The general criteria account forapproximately 40% to 50% of the assessment, depending on the sector.At least 50% of the questionnaire covers industry-specific risks andopportunities that focus on economic, environmental and socialchallenges and trends that are particularly relevant to companies withinthat industry.

Based on RobecoSAM’s corporate sustainability assessments, companiesare ranked within their industry group and selected for the Dow JonesSustainability Index Australia, if they are among the sustainability leadersin their field.

1 Note that the Diversified options do not include the Sustainable Responsible Investments option. Rather, the Diversified options use the Australian Shares optionto gain Australian equity exposure

2 The index will vary over time due to a range of influences including but not limited to changes made by RobecoSAM to the corporate sustainability assessment anddue to other changes that Australian equity portfolios are typically subject to, such as market movements and company related events. In addition, there may bemodest variations between the Equip portfolio and the Dow Jones Sustainability Index Australia due to a number of influences, such as rounding and timingdifferences. The Dow Jones Sustainability Australia Index is a joint product of S&P Dow Jones Indices LLC and/or its affiliates and RobecoSAM AG (“RobecoSAM”),and has been licensed for use by Equipsuper Pty Ltd. S&P is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones(R) is aregistered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). “RobecoSAM” is a registered trademark of RobecoSAM AG. The trademarks have beenlicensed to S&P Dow Jones Indices LLC and its affiliates and have been sublicensed for use for certain purposes by Equipsuper Pty Ltd. Equipsuper Pty Ltd.’s product(s)are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, RobecoSAM or any of their respective affiliates (collectively, “S&PDow Jones Indices”). S&P Dow Jones Indices make no representation or warranty, express or implied, to the owners of the Equipsuper Pty Ltd.’s product(s) or anymember of the public regarding the advisability of investing in securities generally or in Equipsuper Pty Ltd.’s Product(s) particularly or the ability of the Dow JonesSustainability Australia Index to track general market performance

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Understanding each investment optionBenchmark allocations and permitted ranges

The pie charts describing asset allocations set out here are based onbenchmark (or long-term, strategic) allocations for the Diversifiedinvestment options.

Actual asset allocations may vary from the benchmark allocations withinpermitted ranges from time to time depending on market movements,cash flows and tactical investment decisions.

In particular, we may alter asset allocations within the permitted rangesto manage investments through adverse or abnormal market conditions.

Comparing performance

You can obtain the most recent investment returns, daily unit pricesand information on our portfolio holdings from ourwebsite, toyotasuper.com.au or our Helpline 1800 700 884.Investment performance for accumulation accounts is net of tax,investment expenses and other indirect investment costs.

You can use this information to compare Equip’s investmentperformance against other funds. However, if you are comparing ourperformance with other funds, it is important to ensure you take intoaccount the underlying asset allocations, the investment related taxexpenses/benefits and the objectives and management styles for theinvestment options you are comparing. Any variation in these factors canresult in significant differences in the performance of the investmentoptions you are considering.

You should also be aware that past performance is no guarantee offuture performance.

Investment objectives

The investment objectives for the Diversified investment options aimto earn investment returns higher than the inflation rate. Inflationis measured by the Consumer Price Index (CPI) published by theAustralian Bureau of Statistics (ABS), which indicates the average changein prices paid for a ‘basket’ of goods and services.

The investment objectives are not forecasts or predictions. They simplyrepresent a benchmark against which the Trustee monitors performance.

Apart from the Sector Specific SRI option, Equip does not take intoaccount any specific ethical, social, labour standards or environmentalconsiderations in making the investment options available to members.

Strategy

While the investment objective states the investment aim, the strategyprovided for each option is a guide to how we intend to go aboutachieving the objective.

You should note that these objectives are not predictions or forecasts,but merely represent a performance measure for each strategy.

Standard risk measure

The standard risk measure is based on industry guidance to allowmembers to compare investment options that are expected to delivera similar number of negative annual returns over any 20 year period.

The standard risk measure is not a complete assessment of all formsof investment risk. For instance, it does not detail what the size of anegative return could be or the potential for a positive return to be lessthan what you may require to meet your objectives and it is based onpredictions of the future economic environment which may changeover time. Further, it does not take into account the impact ofadministration fees and tax on the likelihood of a negative return.

You should ensure that you are comfortable with the risks and potentiallosses associated with your chosen investment options and if necessaryyou should seek professional financial advice. Equip does not guaranteethe performance of the Fund. And, as mentioned, past performance isnot an indicator of future performance.

Estimatednumber ofyears ofRisk LabelRisk Band negative annualreturns over any20 year period

Less than 0.5Very low1

0.5 to less than 1Low2

1 to less than 2Low to medium3

2 to less than 3Medium4

3 to less than 4Medium to high5

4 to less than 6High6

6 or greaterVery high7

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Diversified options

Our Diversified options

Our Diversified investment options offer a blend of asset allocationsapplicable to different investment goals and tolerance to risk. Youhave a choice of five different options: Growth Plus, Growth, BalancedGrowth, Balanced and Conservative.

If you have an additional accumulation account and don’t make aninvestment choice, it will be invested in the default option, BalancedGrowth.

Growth PlusInvestment objective

Achieve a net return of at least 4.5% p.a. above inflation (measuredby CPI) over a rolling 10 year period.

Strategy

Invest primarily in Australian and overseas shares, while providingsome exposure to property and alternative assets. These are growthinvestments, with the property allocation providing somediversification from shares.

Benchmark allocations

Actual asset allocation for each asset class may vary from time totime within the permitted ranges published in the table below:

Asset class Permitted range Benchmark allocation

Growth assets 85-100% 100%

0-15% 0%

Australian shares

Overseas shares

Property

Infrastructure

Growth alternatives

33-53%

38-58%

0-15%

0-20%

0-20%

43%

48%

3%

3%

3%

0-10%

0-10%

0-10%

0%

0%

0%

Defensive assets

Fixed interest

Defensive alternatives

Cash

3%3%3%

48%

43%

Minimum investment timeframe

The minimum suggested time frame to invest in this product is longterm (7 to 14 years). Members should hold the investment for aminimum of 7 years.

Who should invest in this option?

This option is designed for members who are prepared to accept anaggressive asset allocation which has the potential of providinghigher returns, but also increases the risk of a negative return.


The risk level of this option is high, with a likelihood of negativereturns occurring 5.3 years in a 20 year period.

GrowthInvestment objective

Achieve a net return of at least 4% p.a. above inflation (measuredby CPI) over a rolling 10 year period.

Strategy

Invest primarily in Australian and overseas shares, while providingsome exposure to property and defensive assets. These are growthinvestments, with the property allocation providing somediversification from shares.





0-30% 15%

Australian shares

Overseas shares

Property

Infrastructure

Growth alternatives

23-43%

27-47%

0-15%

0-20%

0-20%

33%

37%

5%

5%

5%

0-17%

0-15%

0-13%

7%

5%

3%

Defensive assets

Fixed interest


Cash

5%

5%

5%

37%

33%

3%5%7%






The risk level of this option is high, with a likelihood of negativereturns occurring 4.6 years in a 20 year period.

14

Diversified options

Balanced GrowthInvestment objective


Strategy

Invest mainly in growth assets such as shares and infrastructure,which are expected to earn higher returns over the long term. Investthe balance in more stable assets like fixed interest securities andother defensive assets.





10-50% 30%

Australian shares

Overseas shares

Property

Infrastructure

Growth alternatives

10-45%

5-45%

0-20%

0-20%

0-20%

24%

27%

7%

7%

5%

0-35%

0-30%

0-30%

17%

8%

5%

Defensive assets

Fixed interest


Cash

5%7%

7%

27%

24%

5%8%

17%




This option is designed for members who want a balance betweenrisk and return but who are prepared to accept a more aggressiveasset allocation than the Balanced option.


The risk level of this option is medium to high, with a likelihood ofnegative returns occurring 3.6 years in a 20 year period.

BalancedInvestment objective


Strategy

Provides an even distribution between growth and defensiveassets. The aim is to provide a balance of capital growth with reducedvolatility.





30-70% 50%

Australian shares

Overseas shares

Property

Infrastructure

Growth alternatives

6-26%

9-29%

0-20%

0-15%

0-20%

16%

19%

5%

5%

5%

15-35%

0-20%

5-25%

25%

10%

15%

Defensive assets

Fixed interest


Cash

5% 5%5%

19%

16%

15%

10%

25%


The minimum suggested time frame to invest in this product ismedium term (4 to 8 years). Members should hold the investmentfor a minimum of 4 years.


This option is designed for members who want a balance betweenrisk and return.


The risk level of this option is medium, with a likelihood of negativereturns occurring 2.4 years in a 20 year period.

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Diversified options

ConservativeInvestment objective


Strategy

Invest mainly in fixed interest securities and cash, which areexpected to deliver stable returns over the long term. Invest thebalance in shares and property.





50-90% 70%

Australian shares

Overseas shares

Property

Infrastructure

Growth alternatives

0-18%

0-20%

0-14%

0-14%

0-14%

8%

10%

4%

4%

4%

20-50%

0-35%

10-30%

40%

10%

20%

Defensive assets

Fixed interest


Cash

4%4%4%10%

8%

20%

10%

40%


The minimum suggested time frame to invest in this product is shortterm (3 to 6 years). Members should hold the investment for aminimum of 3 years.


This option is designed for members who wish to select a lessaggressive asset allocation in exchange for more stability andsecurity.


The risk level of this option is low, with a likelihood of negativereturns occurring 0.8 years in a 20 year period.

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Sector specific options

Our Sector Specific options

Sector Specific options give you the ability to invest solely in anindividual asset class, or choose your own asset allocation to create adiversified portfolio. You can invest in a mix of Sector Specific andDiversified options.

You should proceed cautiously when investing in Sector Specificoptions. You should objectively consider your familiarity with theindividual asset classes, economic cycles, their impacts (positive andnegative) on investment markets and, in particular, theperformance and risks of asset classes.

Australian SharesInvestment objective

This option aims to outperform its benchmark, the S&P/ASXAccumulation 300 Index, over a rolling 5 year period.

Strategy

Invest in Australian companies, usually listed on the Australian StockExchange (ASX).



Australian shares

Cash

90-100%

0-10%

100%


The minimum suggested timeframe to invest in this product is longterm (7 to 14 years). Members should hold the investment for aminimum of 7 years.




The risk level of this option is very high, with a likelihood of negativereturns occurring in 6.2 years in a 20 year period.

Overseas SharesInvestment objective

This option aims to outperform its benchmark, the MSCI World exAustralia Index (70% unhedged / 30% hedged), over a rolling 5 yearperiod.

Strategy

Invest in overseas companies listed on one or more overseas stockexchanges.



Overseas shares

Cash

90-100%

0-10%

100%






The risk level of this option is high, with a likelihood of negativereturns occurring in 5.5 years in a 20 year period.

17

Sector Specific options

Sustainable ResponsibleInvestmentsInvestment objective

This option aims to outperform its benchmark, the Sustainable AssetManagement's Dow Jones Sustainability Index Australia, over a rolling5 year period.

Strategy

Invest in Australian companies, usually listed on the Australian StockExchange (ASC), subject to SRI criteria.



SRI

Cash

90-100%

0-10%

100%






The risk level of this option is very high, with a likelihood of negativereturns occurring in 6.2 years in a 20 year period.

Property

Investment objective

This option aims to outperform its benchmark, a blend of the MercerAustralia Unlisted Property Index (80%) and the FTSE EPRA/NAREITGlobal Index (20%, hedged), over a rolling 5 year period.

Strategy

Invest in Australian and overseas listed and unlisted commercialproperty trusts.



Property

Cash

90-100%

0-10%

100%




This option is designed for members who wish to select a moderatelyaggressive asset allocation, which increases the risk of negativereturns.


The risk level of this option is medium to high, with a likelihood ofnegative returns occurring in 3.5 years in a 20 year period.

18

Sector Specific options

Fixed InterestInvestment objective

This option aims to outperform its benchmark, a mix of theBloomberg AusBond All Maturities Composite Bond Index (50%)and the Bloomberg Barclays Global Aggregate Index (50%), hedgedto Australian dollars, over a rolling 5 year period.

Strategy

Invest in interest bearing bonds and some indexed bonds in Australiaand overseas.



Fixed Interest

Cash

90-100%

0-10%

100%


The minimum suggested time to invest in this product is long term(5 to 10 years). Members should hold the investment for a minimumof 5 years.


This option is designed for members who wish to select a relativelydefensive asset allocation with more stability and security than moreaggressive asset allocations. This option is expected to generatemodest returns over time, with a small but not zero chance ofnegative return in any 12 month period, and is considered to bemore aggressive than cash.


The risk level of this option is low to medium, with a likelihood ofnegative returns in 1.8 years in a 20 year period.

CashInvestment objective

This option aims to outperform its benchmark, the BloombergAusBond Bank Bill Index.

Strategy

Invest cash in money market securities such as bank term depositsand bank bills.



Cash 100% 100%


The suggested time frame to invest in this product is short term (0to 3 years). There is no minimum period suggested for holding thisoption.


This option is designed for members who wish to select a verydefensive asset allocation with a very low chance of a negative returnand expected stable but lower returns over the long term.


The risk level of this option is very low, with a likelihood of negativereturns occurring in 0.5 years in a 20 year period.

19

Balancing risk and return! There is risk associated with any investment, but some

asset classes have historically proven to be less volatile,that is, less prone to up and down fluctuations than others.

Risks

There is risk that investment returns are not what you expect and maybe negative. Levels of investment risk are linked to the asset classes inwhich you have invested and a host of external factors such asinvestment market fluctuations, political and economic changes, naturaldisasters, pandemics and man-made influences such as outbreaks ofwar or terrorist acts.

Clearly, there is little you can do about external forces affecting yourinvestments, but you strongly influence outcomes through your choiceof investment options.

As a rule of thumb, some growth investments that carry a greater riskmay deliver higher returns over the long term. However, they can alsoproduce negative results, particularly over shorter terms. As such,extended investment periods may be appropriate for investors withsignificant exposure to shares and property.

Returns

We present investment earnings as net returns in our reports. This isthe return after tax and investment fees are accounted for. When youcompare Equip with other funds, you should ensure that their returnsare after tax and investment fees are taken out.

The risk and return for Diversified and Sector Specificoptions

For Diversified options, you should consider the relative influence ofthe predominant asset classes in which they are invested. For example,in Balanced Growth, the risk is primarily influenced by the growth assets,shares and property.

When you invest in Sector Specific options, you are exposed to theperformance of specific asset classes. If you choose Sector Specificoptions, we suggest that you consider diversifying your investment andspreading your risk. You should review your asset allocation at leastonce a year to ensure it is still consistent with your objectives.

To help you understand more about the asset classes available to youthrough Equip and the risks associated with them, we suggest you readthe information on these two pages.

! Everyone’s tolerance to risk is different and often changesas we progress through life. If you are unfamiliar with thebehaviour of investment markets and the economicinfluences on them, you should seek the advice of alicensed financial advisor.

A licensed financial advisor can assist you to identify yourgoals and determine the right balance of risk and returnfor you in the context of your personal circumstances andgoals.

Shares

Investors acquire an ownership stake in a company via shares(sometimes also called equities). Shares are usually listed on stockexchanges. For example, Australian shares are listed on the AustralianStock Exchange (ASX); shares in the United States may be listed on anumber of exchanges, such as the New York Stock Exchange or theNASDAQ; and so on.

The expected return of shares is higher than the returns generated bysome other asset classes, but the risk associated with the asset class isgreater.

Equip invests its shares in two distinct buckets: Australian shares andshares domiciled overseas. Overseas shares open up a wide range ofinvestment opportunities. Australian shares make up only about 3% ofthe worldwide share market. Investing in overseas share markets allowsus to broadly diversify our share holdings across companies, sectorsand countries. A large proportion of Equip’s overseas shares portfoliois invested in the world’s largest sharemarket, the US. We also havesome investments in so-called emerging markets, such as in Asia andSouth America.

An attractive feature of Australian shares is that the Fund receivesfranking credits from some of its share investments. Franking creditsare tax credits available to investors for income earned in the form offully franked dividends by listed companies. If a dividend is franked, itmeans it has been paid out of the company’s retained earnings aftertax has been paid. For investments in overseas shares, the Fund doesnot get any franking credits, but may receive some withholding taxcredits.

In the Diversified options, you are invested in both Australian andoverseas shares. Within the Sector Specific options, you can invest inAustralian Shares only; or you can get exposure to the internationalshare markets by investing in the Overseas Shares option.

Risk

Share markets go up and down, but generally trend upward over thelong term. The risk associated with share investments is linked toeconomic trends both in Australia and overseas, interest ratemovements, political change, consumer spending, employment levels,inflation, investor confidence – a complex mix of financial measures.

The long-term upward trend for share markets is due to the growth inthe capital value of companies. The risk, of course, is that somecompanies will fall out of favour or disappear altogether, which is whywe invest in a number of companies and industry sectors.

An added risk when investing in international shares is currencyfluctuations. If you are investing in overseas markets in Australiandollars, the value of your investment will decline if the Australian dollar’svalue increases substantially against other currencies. Of course, theopposite is true if the Australian dollar’s value declines. To offset someof this risk, we may partially “hedge” against currency fluctuations,depending on our assessment of likely currency movements.

Because of the long-term growth cycle of shares, it is prudent to planto hold such investments for extended periods of time. You mayexperience some years of zero or even negative returns in shares but,if you can invest over time, they will generally deliver a positive return.

20

Property

This asset class involves investing in properties, such as shoppingcentres, office buildings and factories.

The costs involved in developing and purchasing prime real estate aresubstantial, and successfully managing it requires yet another set ofskills. Thus rather than owning real estate directly, we buy exposure tothe asset class through investment trusts, when we believe these havethe potential to deliver good long-term investment returns. The propertytrusts may be listed or unlisted and may include both Australian andinternational investments.

An advantage of using trusts for property investment is that it isgenerally easier to sell shares or units to other investors, rather thanhaving to sell actual buildings. Furthermore, trusts allow us to furtherdiversify our exposure to the asset class.

If you invest in any of the Diversified options you are invested inproperty; you can also choose it as a Sector-Specific option.

Risk

Some people often get the sense that property prices never go down.We feel comfortable with ‘bricks and mortar’ investments because,among other things, they include our own home. However, there arerisks associated with property investments, linked to economic driverslike employment levels, consumer confidence and, in particular, interestrates.

Like shares, the long-term trend in property prices is upwards, but themarket can flatten out and even be negative, particularly if there aresustained rises in interest rates. Historically, returns on property havebeen higher than bonds over the longer term but with higher risk.

We hedge any currency exposure we may have through our overseasproperty holdings fully back into the Australian dollar, so there is nocurrency risk.

Infrastructure

Infrastructure provides essential services to the public, ensuringeconomies work smoothly. Infrastructure encompasses a broad rangeof assets, such as toll roads, airports, water utilities and powergeneration facilities, pipelines, schools and health care facilities, toname a few.

Infrastructure assets tend to have a long lifespan and are thus generallywell suited for long-term investors, such as super funds. Returns frominfrastructure are generated from both capital growth of the assets aswell as the long-term income streams derived from them.

Equip can invest in infrastructure, both directly and via unlisted andlisted investment trusts. With infrastructure, we can further diversifythe risk and return of our investment options.

All Diversified options with the exception of the Conservative optionhave a benchmark allocation to infrastructure.

Risk

As we do not offer direct investments for members in infrastructure,the risks associated with such assets are captured in the risk profilesof the Diversified investment options.

Infrastructure assets are subject to some price volatility. Equip prefersto invest in assets which are relatively mature and have actual cashflows.

Fixed interest

Fixed interest securities, also called fixed income or bonds, are issuedby federal and state governments, as well as by companies. If you buya bond, it usually entitles you to regular payments of interest overa fixed period plus the return of your investment at the end of theperiod. Our fixed interest investments include both Australian andoverseas bonds. They may also include indexed bonds, which are similarto other diversified fixed interest investments except that their returnsare increased (indexed) each year by the amount of inflation. They offergood insurance against a rise in inflation with similar risk and return tofixed interest.

Fixed interest is an integral part of the strategic allocation of all theDiversified investment options, bar Growth Plus, and you can also investin a Sector Specific option.

Risk

The bond market is a complex trading environment, driven by economicfactors, investor sentiment towards growth assets like shares andinterest rate movements. In a rising interest rate environment, bondscan lose some of their capital value.

Over the long term, fixed interest delivers lower returns than equitiesand property. However, there are times when the regular incomepayments that fixed interest provides make this type of investmentattractive.

We hedge any currency exposure we may have through overseas fixedinterest securities fully back into the Australian dollar, so there is nocurrency risk.

Alternatives

Alternatives are assets that allow our investment managers to takeadvantage of special investment opportunities that may arise.

Equip has divided the alternatives asset class into growth alternativesand defensive alternatives.

Growth alternatives include investments such as private equity, multi-asset portfolios and hedge funds. Defensive alternatives include creditportfolios.

Risk

The risks associated with well-selected alternatives depend on the typeof investment. As we do not currently offer direct investmentsfor members in the alternatives asset classes, their risk profiles arecaptured within our Diversified investment options.

Cash

This is not just money in the bank but also money invested for a shorttime in money market securities such as bank term deposits and bankbills.

All Diversified options have a benchmark allocation to cash, with theexception of Growth Plus. You can also invest in a Sector Specific option.

Risk

The risk associated with cash investments (money in the bank and termdeposits) is generally low, although the investment upside is alsominimal. Cash tends to be a safe haven in times of economicuncertainty; occasionally you may wish to preserve capital by allocatingsome of your super to cash. However, small negative returns may beexperienced in a very low interest rate environment.

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Fees and costs

DID YOU KNOW?Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For

example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a30 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 justifyhigher fees and costs. You or your employer, as applicable, may be able to negotiate to pay lower fees.

Ask the fund or your financial adviser.

TO FIND OUT MOREIf 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 (moneysmart.gov.au) has a superannuation calculator to help you check out different fee options.

Main fees and costsFor defined benefit members in Equip, the direct administration fees and costs associated with your defined benefit are paid by your employer. Thefollowing section shows the fees and costs that you will be charged if you have an additional accumulation account. Taxes and insurance costs areset out in a separate part of this document.

You should read all the information about fees and costs because it is important to understand their impact on your retirement savings.

How and when paidAmountType of fee

Investment and performance fees are deducted from theunderlying asset value and reflected in the daily unit pricesapplied to your account. The fee depends on the investmentoption which applies to you.

Estimated to range from 0.06% to 0.46%,depending on your investment options.

Investment fee

Deducted from your additional accumulation account effectiveon the last day of each month.

0.25% per annum of your additionalaccumulation account balance (up to amaximum of $1,250)

Administration fee

N/ANilBuy-sell spread fee

N/ANilSwitching fee

N/ANilAdvice feesRelating to all members investing ina particular MySuper product orinvestment option

Refer to the additional explanation of fees and costs table on the following page.Other fees and costs

These investment related costs are not deducted from youraccount; rather, they reduce the value of the assets of eachinvestment option before the daily unit price is determined.The estimate is based on the financial year ending 30 June2020.

Estimated to range from 0% to 0.88%,depending on your investment options.

Indirect cost ratio

If your accumulation account balance is below $6,000

If your accumulation account balance is less than $6,000 at the end of the financial year, the total combined amount of administration fees,investment fees and indirect costs charged to you is capped at 3% of the accumulation account balance. At the end of each financial year (or if youare leaving Equip), we will check and refund any excess fees charged. You'll see any of those types of refunds on your statement.

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https://www.moneysmart.gov.au/

Example of annual fees and costs

This table gives an example of how the fees and costs in the Balanced Growth investment option for this superannuation product can affect yoursuperannuation investment over a one year period. You should use this table to compare this superannuation product with other superannuationproducts.

Balance of $50,000Example – Balanced Growth option

For every $50,000 you have in the Balanced Growth option, youwill be charged $160 each year

0.32% p.a.Investment fee

And, you will be charged $125 in administration fees on youradditional accumulation account balance

0.25% p.a. asset fee on youradditional accumulation accountbalance

PLUSAdministration fee

And, indirect costs of $145 each year will be deducted from yourinvestment

0.29% p.a.PLUS Indirect cost for thesuperannuation product

If your additional accumulation account balance in was $50,000,then for that year you will be charged fees of $430.

$430EQUALS cost of the product

Additional explanation of fees and costsEstimated fees and costs for each investment option

This table gives a detailed explanation of the total estimated fees and costs for each investment option. The total investment fee shown is estimatedfor the financial year from 1 July 2020, while the indirect cost ratio (ICR) shown is an estimate based on the financial year ending 30 June 2020.

As the performance fee shown is an estimate, the actual performance fee for each investment option will vary from year to year.

Indirect cost ratio(ICR)

Investment feeDiversified options

Total estimatedinvestment fee

Estimatedperformance fee

Base investment fee

0.23%0.43%0.08%0.35%Growth Plus

0.27%0.34%0.06%0.28%Growth

0.29%0.32%0.05%0.27%Balanced Growth

0.26%0.23%0.03%0.20%Balanced

0.23%0.20%0.02%0.18%Conservative


0.18%0.39%0.00%0.39%Australian Shares

0.18%0.46%0.18%0.28%Overseas Shares

0.24%0.44%0.00%0.44%Sustainable ResponsibleInvestments (SRI)

0.88%0.15%0.00%0.15%Property

0.19%0.19%0.00%0.19%Fixed Interest

0.00%0.06%0.00%0.06%Cash

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Transactional and operational costs

Transactional and operational costs are costs relating to the purchaseor sale of the assets of the fund, an underlying fund or other investmentvehicle as well as costs associated with managing property investments.

These costs are deducted from the assets of the fund or of theunderlying investment vehicle and are an additional cost to you.

Transaction costs include both explicit and implicit costs.

Explicit costs

Explicit costs include, but are not limited to, brokerage, clearing costs,stamp duty on an investment transaction, commissions, buy-sell spreads,due diligence costs, settlement costs and custody fees.

Explicit costs of investments are included in the indirect cost ratio (ICR)for each investment option.

Implicit costs

Implicit costs are embedded in the price of certain investments andinclude, but are not limited to, a bid/offer spread, which is the differencebetween the price a buyer is willing to pay (the bid price) and the pricea seller is willing to accept (the ask price) for a particular security.Bid/offer spreads may be incurred when buying and selling fixed incomesecurities such as bonds, foreign currency conversions and listedequities.

Many of these implicit costs are estimates as they are not known withcertainty. The table following shows the estimated implicit costs for the12 months to June 2020 for each investment option.

Implicit costs are not included in the investment fee or indirect costratio (ICR).

Borrowing costs

Borrowing costs are costs that relate to a credit provided to thesuperannuation fund trustee, or to entities in which the fund invests.They are additional costs to the investor which are deducted from theunderlying assets and not from your account directly; they reduce theearnings returned to the fund. These costs are not included in theinvestment fee or indirect cost ratio (ICR).

The table following shows the estimated borrowing costs for eachinvestment option for the past 12 months to 30 June 2020.

Property operating costs

Property operating costs include a range of costs associated withmanaging property investments, for example council and water rates,utilities and lease renewal costs. These costs are not included in theinvestment fee or indirect cost ratio (ICR).

The table following shows the estimated property operating cost foreach investment option for the past 12 months to 30 June 2020.

Estimatedpropertyoperating

costs

Estimatedborrowing

costs

Estimatedimplicit

costs

Investmentoption

Diversified options

0.03%0.03%0.07%Growth Plus

0.03%0.04%0.08%Growth

0.04%0.05%0.09%Balanced Growth

0.03%0.03%0.09%Balanced

0.03%0.03%0.09%Conservative


0.00%0.00%0.06%Australian Shares

0.00%0.00%0.09%Overseas Shares

0.00%0.00%0.02%SustainableResponsibleInvestments (SRI)

0.64%0.63%0.01%Property

0.00%0.00%0.12%Fixed Interest

0.00%0.00%0.01%Cash

Changes to fees and costs

The fees and costs for Equip may change in the future. We’ll give you30 days notice before any increase in fees.

Tax

You can find important information about how super is taxed in thecontribution section starting on page 4 and in the following section ontax.

Tax benefits passed on to members

Equip claims a tax deduction on the administration fees deducted fromyour additional accumulation account, and any additional voluntaryinsurance cover premiums that we deduct from your account. We passthis benefit back to you directly by reducing the amount of tax that isdeducted from your account. This means that you essentially receive a15% refund of your additional accumulation account administrationfees and additional voluntary cover insurance premiums.

If you have exposure to Australian shares, tax offsets gained throughfranking credits are reflected in unit prices.

Other levies

At times, government bodies charge superannuation funds levies torecover the cost of superannuation related projects they undertook.Equip may choose to pass these costs on to members in proportion totheir account balance.

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Defined fees

ExplanationActivity fee

Some super funds may apply a fee if you make a contribution splittingrequest, family law information request or a family law account splitrequest.

A fee is an activity fee if:

a) the fee relates to costs incurred by the trustee of a superannuationentity that are directly related to an activity of the trustee:

Equip does not charge any activity fees.i) that is engaged in at the request, or with the consent, of a member;

orii) that relates to a member and is required by law; and

b) those costs are not otherwise charged as an administration fee, aninvestment fee, a buy-sell spread, a switching fee, an exit fee, an advicefee or an insurance fee.

ExplanationAdministration fee

Administration fees help cover the cost of running a superannuationfund.

a) An administration fee is a fee that relates to the administration oroperation of the superannuation entity and includes costs that relateto that administration or operation, other than: The costs of administering your defined benefit are generally

covered by your employer. However, Equip charges anadministration fee of 0.25% of your additional accumulationaccount balance.

b) borrowing costs; andc) indirect costs that are not paid out of the superannuation entity that

the trustee has elected in writing will be treated as indirect costs andnot fees, incurred by the trustee of the entity or in an interposed vehicleor derivative financial product; and

d) costs that are otherwise charged as an investment fee, a buy-sellspread, a switching fee, an exit fee, an activity fee, an advice fee or aninsurance fee.

ExplanationAdvice fee

Equip members can access two levels of advice and any fee for thatadvice may be deducted from your super account. Equip does not paycommissions to financial advisors.

A fee is an advice fee if:

a) the fee relates directly to costs incurred by the trustee of thesuperannuation entity because of the provision of financial productadvice to a member by: Limited advice

Equip Member Services can offer limited advice on your investmentoptions. A fee may apply for some advice but we’ll let you know upfront.You can find out more by contacting our Helpline on 1800 700 884.

i) a trustee of the entity; orii) another person acting as an employee of, or under an arrangement

with the trustee of the entity; andPersonal advice

b) those costs are not otherwise charged as an administration fee, aninvestment fee, a switching fee, an exit fee, an activity fee or aninsurance fee.

Equip Financial Planning can offer you full personal advice. The feesfor this service are outlined in the Financial Services Guide for EquipFinancial Planning as well as in any statement of advice you receive,but we’ll also let you know the fees upfront before any service isprovided. You can book an appointment with Equip Financial Planningon our website or by contacting 1800 065 753.

ExplanationBuy-sell spread fee

Some super funds may charge a buy-sell spread fee to recover the costof buying and selling various investments when you change yourinvestment options.

A buy-sell spread fee is a fee to recover transaction costs incurred by thetrustee of a superannuation entity in relation to the sale and purchase ofassets of the entity.

Equip does not charge a buy-sell spread fee to your account.

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ExplanationIndirect cost ratio

The investment fee and indirect cost ratio (ICR) are the costs associatedwith investing, including the fees paid to external managers andcustodians. They are not deducted from your account directly, but arededucted from the underlying asset value and are reflected in the dailyunit prices.

The indirect cost ratio (ICR) for a MySuper product or an investmentoption offered by a superannuation entity, is the ratio of the total of theindirect costs for the MySuper product or investment option, to the totalaverage net assets of the superannuation entity attributed to the MySuperproduct or investment option.

The investment fees and ICR for each investment option are shown inthe Estimated fees and costs for each investment option table earlier in thisdocument.

Note: A fee deducted directly from a member’s account is not includedin the indirect cost ratio.

Investment feeThe investment fee shown is comprised of a base fee (including anamount for the care and expertise in investing assets) and an estimatedperformance fee.

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

Performance feesa) fees in payment for the exercise of care and expertise in theinvestment of those assets (including performance fees); and Any performance fees that Equip pays directly to an investment manager

are paid if the manager outperforms its benchmarks by a certain hurdlerate.

b) costs that relate to the investment of assets of the entity, other than:i) borrowing costs; and

If the manager exceeds the hurdle, we will apportion the amount of thefee payments to the unit prices of those investment options to whichthe fee relates. Unit prices will be adjusted monthly to reflect actualperformance payments to external managers.

ii) indirect costs that are not paid out of the superannuation entitythat the trustee has elected in writing will be treated as indirectcosts and not fees, incurred by the trustee of the entity or in aninterposed vehicle or derivative financial product; and

Performance fees cannot be known precisely in any given year, sincethe managers’ outperformance cannot be anticipated. However, we haveprovided an estimate of the performance fees in this PDS. Theperformance fees may exceed this estimate, they may be lower or theymay not be paid at all.

iii) costs that are otherwise charged as an administration fee, abuy/sell spread, a switching fee, an exit fee, an activity fee, anadvice fee or an insurance fee.

ExplanationInsurance fee

The costs of any insurance held for you to support your definedbenefits are generally covered by your employer.

A fee is an insurance fee if:

a) the fee relates directly to either or both of the following:However, Equip deducts the cost of any additional voluntary coveryou have from your account on the last day of each month, and wepay this same amount to the insurer. Equip does not charge anyother fee relating to insurance.

i) insurance premiums paid by the trustee of a superannuationentity in relation to a member or members of the entity;

ii) costs incurred by the trustee of a superannuation entity inrelation to the provision of insurance for a member or membersof the entity;

b) the fee does not relate to any part of a premium paid or cost incurredin relation to a life policy or a contract of insurance that relates to abenefit to the member that is based on the performance of aninvestment rather than the realisation of a risk; and

c) the premiums and costs to which the fee relates are not otherwisecharged as an administration fee, an investment fee, a switching fee,an exit fee, an activity fee or an advice fee.

ExplanationSwitching fee

Some super funds may charge you a fee when you change yourinvestment options.

A switching fee for a MySuper product is a fee to recover the costs ofswitching all or part of a member’s interest in a superannuation entityfrom one class of beneficial interest in the entity to another. A switching Equip does not charge a fee to switch your investment options.fee for a superannuation product other than a MySuper product, is a feeto recover the costs of switching all or part of a member’s interest in thesuperannuation entity from one investment option or product in theentity to another.

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TaxThere are taxes that apply to super including on contributions,investment earnings and on some withdrawals.

Tax on contributions

Tax applies on certain contributions to superannuation. You can findmore information in the contribution section starting on page 4.

Tax on earnings and capital gains

Earnings (investment returns) in super are taxed at a maximum rate of15%. Any capital gains earned by Equip also receive concessional taxtreatment.

Any taxes on investment returns or capital gains are deducted beforeearnings are applied.

Tax on withdrawals from your super

Withdrawals from your super may have a tax-free component and ataxable component. While no tax will be deducted from your tax-freecomponent, the tax that applies to your taxable component will dependon the circumstances:

Tax ratePayment type

22% (including 2% Medicare levy)Withdrawals beforepreservation age

0% on the first $215,000;Withdrawals betweenpreservation age and beforeage 60

17% (including 2% Medicare levy) onthe remainder

0%Withdrawals on or after age60

65% for working holiday makers;Departing AustraliaSuperannuation Payment(DASP)

35% for other former permanent visaholders

0%Terminal illness

0% if paid to a dependant for taxpurposes;

Death

17% (including 2% Medicare levy) ifpaid to a non-dependant for taxpurposes.

Dependants for tax purposes

The definition of dependants for tax purposes includes:

your current or former spouse, including a de-facto;

children under the age of 18;

any person, including your child, over age 18 who is financiallydependent on you at the time of your death;any person with whom you have an interdependency relationship.

Tax on total and permanent disablement benefits

The tax rates that apply will depend on your age and other factors. Thepayment summary you receive with your benefit will provide details ofthe tax-free and taxable components and any associated tax that hasbeen deducted from your benefit.

Tax on transfers to other super funds

No tax is deducted from your benefit when it is transferred to anothersuper fund; tax is only deducted when you withdraw your benefit fromthe super system.

Your Tax File Number (TFN)

Under the Superannuation Industry (Supervision) Act 1993, Equip cancollect your Tax File Number (TFN) to be used and disclosed for lawfulpurposes.

Equip may disclose your TFN to another super fund if and when yourbenefit is being transferred, unless you have asked us in writing not todisclose it.

You are not required to provide your TFN to Equip, but not providingit may mean that:

we are unable to accept certain contributions for you;

additional tax may apply on contributions and withdrawals; and

it may be more difficult to locate multiple super accounts in yourname.

If we have your TFN and you provide us consent, we’ll search for andconsolidate any of your lost super or amounts held by the ATO intoyour Equip account. We’ll also contact you if we find accounts for youat other super funds so you can decide whether to consolidate theminto Equip.

Your employer’s obligation in relation to your TFN

Your employer has a legal obligation to provide your TFN to Equip whenyou start employment or when they make the first contribution for you.

Surcharge

Surcharge was an additional superannuation tax payable by higherincome earners and was abolished from 1 July 2005. However, if asurcharge assessment is received for you, we will pay the amount,provide you details of the assessment and then advise you of the optionsavailable to make the surcharge payment back to Equip. If you have anadditional accumulation account, you may opt to have the surchargeamount deducted from that account.

If you owe Equip a surcharge amount, a notional earnings rate (whichmay be positive or negative) is applied to that amount based on thereturns of the Conservative investment option. Your surcharge liabilitywill be deducted from your final benefit payment.

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InsuranceWho is eligible for death and TPD cover in Equip

To be eligible for death and TPD cover in Equip, you must be:

an Australian citizen, a New Zealand citizen living and working inAustralia, the holder of a permanent Australian visa, or living inAustralia on a temporary skilled work visa;older than 15; and

younger than 65

These are known as the eligibility conditions. You need to meet theseconditions to be able to receive, apply for, or maintain your death andTPD cover in Equip.

Part of your defined benefit may be insured

To help reduce the impact of large benefits on the defined benefitfunding pool, part of your defined benefit death and TPD benefitsdescribed earlier may be insured through an insurance policy taken outby Equip. We’ll refer to this insurance cover used to support your definedbenefits as basic cover.

Your basic cover is paid for by your employer. In most cases, this coveris taken out automatically, provided you meet the eligibility andautomatic acceptance conditions described below.

Any basic cover you receive automatically is limited to $1 million. Anycover over $1 million will require you to complete a Personal Statement.Depending on the amount of cover you’re applying for, you may beasked for additional health evidence or to answer some furtherquestions. Our insurer will decide whether to accept your application.

Additional voluntary cover

Equip provides you the flexibility to apply for voluntary death and TPDcover in addition to the cover used to support your defined death andTPD benefits described earlier. You can apply for additional voluntarydeath and TPD cover at any time as a fixed dollar amount.

You will need to complete a Member options form and a PersonalStatement, both of which are available on our websitetoyotasuper.com.au

Depending on the amount of your cover you’re applying for, you maybe asked for additional health evidence or to answer some extraquestions. Our insurer will decide whether to accept your applicationas part of the underwriting process. The increase in your cover will applyfrom the date the insurer advises us.

Maximum cover amount

Whilst death cover has no limit, TPD cover has a maximum cover limitof $3 million. This includes all the TPD cover you have - basic cover usedto support your defined benefits and amounts of TPD cover under alllife insurance policies from which you benefit, whether with Equip'sinsurer or any other Australian life insurer.

You’re covered while you’re applying for cover

If your application for cover or increased cover requires you to completethe Personal Statement and be underwritten, you will be covered byinterim accident cover for the same type of cover that you have appliedfor (death, TPD, or death and TPD) while your application is beingconsidered by the insurer. The amount of interim accident cover youare provided is the lower of the increase you’re applying for and $1.5million.

An interim accident cover benefit is only payable if you suffer an injurythat results in:

your death (if your application was for death cover); or

you becoming totally and permanently disabled (if your applicationwas for TPD cover).

The interim accident cover applies from the date we receive yourcompleted form and Personal Statement and ceases when:

the insurer makes a decision on your application;

you withdraw, do not proceed with or cancel your application;

90 days have passed since your accident cover started;

one of the conditions for your cover ending occurs; or

all cover is terminated under the policy.

Automatic changes to the amount of your cover

Reduction of additional voluntary TPD cover

If you have additional voluntary TPD cover, it will gradually decreasefrom your 61st birthday. We reduce your cover each birthday, using thepercentage reduction shown in the table below.

TPD cover reductionCurrent age

20%61

40%62

60%63

80%64

100%65+

The above reduction percentages apply regardless of when yourinsurance cover commenced in Equip.

So, for example, if you have additional voluntary TPD cover of $100,000,your cover would start to decrease from your 61st birthday as follows:

TPD cover amountFrom age

$80,00061

$60,00062

$40,00063

$20,00064

$065+

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The cost of additional voluntary death and TPD cover

The annual cost of your additional voluntary death and TPD cover iscalculated per $1,000 of cover, based on your age.

We deduct the cost of your additional voluntary cover from youradditional accumulation account on the last day of each month. If youdon’t have sufficient funds in your additional accumulation account topay your premium when it is due, your cover will cease. We will writeto you if your account balance isn’t sufficient to meet the upcomingdeduction.

If any aspect of your insurance cover requires completing the PersonalStatement or other underwriting, your final premium is subject toassessment and confirmation by the insurer. The insurer may applyextra costs for your cover (this is known as a loading).

How to calculate the annual cost of death and TPD cover

To calculate the cost of your cover, divide the amount of cover you haveby 1,000 and then multiply that value by the rate for your age shownin the table on the right.

For example, if you are 45 years old with additional voluntary deathand TPD cover of $200,000, the annual cost would be calculated as:

= ($200,000 ÷ $1,000) x premium at age 45= 200 x $1.45= $290 per annum

You will also need to consider any loading the insurer may have appliedto your cover. You can find details of any loading that applies to youon the communication you received when you were accepted for coveror from Helpline on 1800 700 884.

! Equip claims a tax deduction on the costs we deduct fromyour account to pay for your insurance cover and passesthis benefit back to you directly by reducing the amountof tax that is deducted from your account. This means youessentially receive a 15% refund of the cost of yourinsurance.

Annual cost per $1,000 of cover

The table below shows the annual cost of $1,000 of additional voluntarydeath and TPD insurance cover.

Death & TPDTPDDeathCurrent age

$0.57$0.18$0.3915 - 19

$0.55$0.18$0.3720

$0.52$0.16$0.3621

$0.50$0.16$0.3422

$0.47$0.15$0.3223

$0.46$0.16$0.3024

$0.43$0.14$0.2925

$0.41$0.14$0.2726

$0.43$0.16$0.2727

$0.42$0.16$0.2628

$0.43$0.18$0.2529

$0.43$0.17$0.2630

$0.44$0.18$0.2631

$0.47$0.21$0.2632

$0.50$0.23$0.2733

$0.53$0.25$0.2834

$0.55$0.25$0.3035

$0.59$0.29$0.3036

$0.65$0.33$0.3237

$0.71$0.37$0.3438

$0.78$0.41$0.3739

$0.86$0.46$0.4040

$0.96$0.53$0.4341

$1.06$0.60$0.4642

$1.17$0.67$0.5043

$1.30$0.76$0.5444

$1.45$0.87$0.5845

$1.61$0.98$0.6346

$1.79$1.11$0.6847

$1.98$1.25$0.7348

$2.23$1.43$0.8049

$2.47$1.61$0.8650

$2.75$1.81$0.9451

$3.04$2.04$1.0052

$3.37$2.29$1.0853

$3.67$2.51$1.1654

$4.01$2.76$1.2555

$4.41$3.05$1.3656

$4.85$3.38$1.4757

$5.37$3.77$1.6058

$5.92$4.18$1.7459

$6.54$4.65$1.8960

$7.20$5.16$2.0461

$7.93$5.72$2.2162

$8.73$6.34$2.3963

$9.59$7.02$2.5764

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Payment of TPD benefits

Definitions of disablement

If you were a permanent employee working 15 or more hours eachweek in the 6 months prior to the date of your disablement, you canreceive a benefit if you meet either of definitions 1, 2, 3 or 4.

If you were not a permanent employee, or were not working 15 or morehours each week in the 6 months prior to the date of your disablement,you can receive a benefit if you meet either of definitions 2, 3, or 4.

In the event of a claim, the insurer will determine which definitionapplies to you based on your employment status.

1. You are unlikely to return to work.

You are unable to do any work as a result of injury or illness (whetherphysical or mental) for 3 consecutive months (the waiting period) and,at the end of that 3 months, in the opinion of the insurer, you continueto be so disabled that you are unlikely to resume any occupation whichyou are reasonably capable of performing by reason of education,training or experience.

2. You suffer the loss of limbs and/or sight.

You suffer the permanent and irrecoverable loss of use of:

2 limbs, or

the sight of both eyes, or

one limb, and the sight of one eye and

you continue to be so disabled that you are, in the insurer’s opinion,unlikely to resume any occupation which you are reasonably capableof performing by reason of education, training or experience.

3. You suffer cognitive loss.

The insurer determines you have suffered permanent deterioration orloss of intellectual capacity which has required you to be under thecontinuous care and supervision of another adult person for at least 3consecutive months (the waiting period) and, at the end of that 3month period, you are likely to require permanent, on-going continuouscare and supervision by another adult and you continue to be sodisabled that, in the insurer’s opinion, you are unlikely to resume anyoccupation which you are reasonably capable of performing by reasonof education, training or experience.

4. You are unable to complete the Everyday Working Activities.

You suffer an illness or injury that has prevented you from beingable to perform at least 2 of the Everyday Working Activitieswithout assistance from another adult, despite the use of appropriateaids, for at least 6 consecutive months, andsince you became ill or injured, you have been under the regularcare and attention of a doctor for that illness or injury, andin the insurer’s opinion, the illness or injury means that you areunlikely to ever again be able to perform at least 2 of the EverydayWorking Activities without assistance from another adult, despitethe use of appropriate aids, andin the insurer’s opinion, your illness or injury means you are unlikelyto ever again return to work for which you are reasonably capableof performing by reason of education, training or experience.

Immediate assessment for certain illnesses and injuries

If you are unable to perform your usual job as a result of suffering oneor more defined medical conditions, the insurer will waive the usual 3month waiting period and will start the assessment of your claim onreceipt of your initial claim documentation. The illnesses and injuriesthat can be assessed immediately are blindness, cardiomyopathy,chronic lung disease, dementia and Alzheimer’s disease, diplegia,hemiplegia, loss of hearing, loss of speech, major head trauma, motor

neurone disease, multiple sclerosis, muscular dystrophy, paraplegia,Parkinson’s disease, primary pulmonary hypertension, quadriplegia,severe burns, severe rheumatoid arthritis, and tetraplegia.

Lodging a TPD claim after your cover has ceased

A claim for TPD will not be paid if your date of disablement is after thedate that your TPD cover ceased.

If you had a formalised graded return to work which failed within 12months, the date of disablement will be the date you first ceased work.

Terminal illness benefit

You may be eligible for a terminal illness benefit if you have a conditionthat 2 doctors, who are approved by the insurer, including one who isa specialist practising in the relevant field, believe is likely to lead toyour death within 24 months. The date of diagnosis of the terminalillness must have been while you had death cover.

How a death, TPD or terminal illness benefit is paid

The treatment of proceeds of an approved death, TPD or terminal illnessclaim will vary.

Basic cover

The amount paid by the insurer is credited to the defined benefitfunding pool, not your account directly. You'll receive the benefitsdescribed to you earlier in this guide.

Additional voluntary cover

The amount paid by the insurer will be credited to your additionalaccumulation account. Unless we're instructed otherwise, the amountwill be invested in the Cash option.

Exclusions – when a death, TPD of terminal illness won’tbe paid

No claim will be paid for any part of your death and TPD cover whereit arose directly or indirectly as a result of:

war, an act of war; or

you having been in a country listed on the Department of ForeignAffairs & Trade website dfat.gov.au as subject to a “Do not travel”warning.

For any increase in cover you applied and were accepted for whichrequired you to complete the Personal Statement, no claim will bepayable if it arises directly or indirectly as a result of:

death caused by suicide in the 13 month period commencing fromthe day that your increase in cover was accepted;disablement caused by self-inflicted injury or attempted suicideregardless of whether you were sane or insane at the time; andany other exclusions advised to you at the time of underwriting.

If the insurer doesn’t approve your claim

If you have basic cover to support part of your death and TPD definedbenefits explained earlier in this guide, then, if we don’t receive paymentfrom the insurer in the event of a claim, your defined benefit may bereduced.

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https://www.dfat.gov.au/

Salary continuance cover

Salary continuance (SC) cover provides you with an income for up to2 years if you are temporarily unable to work due to injury or illness.

Who is eligible for SC in Equip

To be eligible for SC cover in Equip, you must be:

an Australian citizen, a New Zealand citizen living and working inAustralia, the holder of a permanent Australian visa, or living inAustralia on a temporary skilled work visa; andolder than 15; and

younger than 65.

These are known as the eligibility conditions. You need to meet theseconditions to be able to apply for, or maintain your SC cover in Equip.

Default SC cover

Your default SC cover is 85% of your salary (10% would be paid as asuper contribution to your Equip account), with a waiting period of 90days.

Any default SC cover you receive automatically will be limited to$12,000 per month. Any cover over $12,000 will require you to completea Personal Statement. Depending on the amount of cover you'reapplying for, you may be asked for additional health evidence or toanswer some further questions. Our insurer will decide whether toaccept your quotation.

If a higher limit had been approved for you prior to 1 May 2021 in ToyotaSuper, that limit will continue in Equip.

Maximum cover amount

The maximum SC cover is $30,000 per month.

Payment of SC benefits

An SC benefit is paid to you when you suffer a total disability or apartial disability. You'll directly receive the lower of the amount of SCcover you have or 75% of your monthly income, paid monthly for upto 2 years from the expiry of your waiting period.

The insurer will regularly review your disablement and income statusduring the 2 year benefit period to ensure you are still eligible for SCpayments. If you return to work in a reduced capacity during that 2 yearperiod, you may still receive a partial benefit. The amount payable wouldbe reduced by any actual monthly income earned or income the insurerreasonably estimates that you were capable of earning during the monthof partial disability.

Super contribution benefit

Your SC cover also includes a super contribution benefit. Thecontribution depends on the amount of SC cover you have and yourmonthly income. Where your amount of SC cover is:

85% or more of your monthly income, the super contribution paidwill be 10% of your monthly income.more than 75% but less than 85% of your monthly income, the supercontribution paid will be the amount of your cover less 75% of yourmonthly income.less than 75% of your monthly income, no super contribution willbe paid.

Offsets for other disability income

The benefit you receive may be reduced by any other disability incomeyou receive, including any benefit under any workers compensation,motor accident compensation or other similar State, Federal or Territorylegislation, and payments by way of sick leave or any other entitlement

to payment from your employer that arises as a result of incapacity, orany other income derived as a result of incapacity under any otherinsurance policy.

SC claims while on employer approved leave

If you suffer total disability or partial disability while you're on unpaidleave:

you will only be eligible for an SC benefit from the later of the datethat your employer had recorded for your return to work or the endof the waiting period, andthe insurer will calculate the benefit you will be paid based on themonthly income that applied before your leave started.

Indexation

After 12 continuous months of receiving an SC benefit, it will increaseby the lower of the annual CPI percentage increase or 5%.

Waiting periods

Any claim for an SC benefit is subject to a waiting period, which is thetime you need to wait before your claim can be assessed. Your defaultwaiting period is 90 days, but you can apply for a shorter waiting periodof 60 or 30 days.

Your waiting period starts from the date you first receive medical advicefrom a doctor who certifies that you were totally disabled on that day.

What if I return to work during the waiting period?

If you return to work during the waiting period and the return provesunsuccessful due to the injury or illness causing total disability, thenthe original waiting period will continue if you returned to work for nomore than 10% of the waiting period.

Exclusions - when an SC claim won't be paid

No claim will be paid where it arose directly or indirectly as a result of:

war, an act of war;

you having been in a country listed on the Department of ForeignAffairs & Trade website dfat.gov.au as subject to a “Do not travel”warning;self-inflicted harm or attempted suicide, regardless of whether youwere sane or insane at the time;normal and uncomplicated pregnancy or childbirth. This exclusionincludes multiple pregnancy, threatened or actual miscarriage,participation in an IVF or similar programme, discomfort commonlyassociated with pregnancy (such as morning sickness, backache,varicose veins, ankle swelling, bladder problems);your participation in a criminal act;

your job being considered as a hazardous occupation (see below)and the insurer has not given prior approval; orany other exclusions advised to you at the time of underwriting.

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Hazardous occupations

Generally, SC is not available if you work in one of the hazardousoccupations listed below.

If you already have SC cover and change to an occupation that is listed,you will need to apply for approval from the insurer to continue yourSC cover by completing the Hazardous occupation advice form availablefor download from our website. Note that no claim will be payable ifyour job is considered hazardous without the insurer having given priorapproval.

Hazardous jobs include any of the following:

working as a support person, domestic helper or carer (whether ina paid capacity or not) for an organization which provides suchservices to persons suffering from Acquired Immune DeficiencySyndrome (AIDS);air traffic controller;

commercial pilot;

professional sport person;

earth drilling, mineral exploration, miner or person working withexplosives;professional entertainer such as actor, dancer, musician and stageperformer;firefighter or police officer;

fisherman;

forestry worker;

workers in the horse racing industry such as a trainer, jockey andstrapper;workers whose work requires them to work at heights such as rigger,scaffolder, roof worker and antenna erector;offshore oil rig worker;

security guard, doorman, bouncer, or person employed in crowdcontrol;sheltered workshop employee;

seasonal worker or employees in industries with casual workforces;

underground or underwater worker;

sex worker.

The cost SC cover

Your employer pays the cost of any SC cover you have with a 90 daywaiting period.

If you have chosen to reduce the waiting period for your SC cover to60 or 30 days, the difference in cost between your chosen waitingperiod and the default 90 day waiting period is paid by you. If you'repaying for any cover, we deduct the cost from your additionalaccumulation account on the last day of each month. You can find thecost of SC cover based on your age and gender in the table on thefollowing page.

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Annual cost per $1,000 of SC cover

The annual cost per $1,000 of SC cover is shown in the table below.

MalesFemales90 day wait60 day wait30 day wait90 day wait60 day wait30 day waitCurrent age

$0.99$1.97$2.32$1.34$2.75$3.2515 - 18

$0.81$1.97$2.32$1.02$2.15$2.5219

$0.81$2.00$2.35$1.02$2.19$2.5620

$0.79$2.03$2.39$0.99$2.21$2.5921

$0.76$2.05$2.40$0.97$2.24$2.6322

$0.75$2.07$2.44$0.95$2.25$2.6623

$0.74$2.11$2.48$0.94$2.29$2.7124

$0.72$2.12$2.48$0.91$2.31$2.7125

$0.71$2.13$2.52$0.90$2.40$2.8226

$0.74$2.19$2.56$0.89$2.44$2.8727

$0.74$2.25$2.64$0.89$2.52$2.9728

$0.71$2.32$2.72$0.90$2.59$3.0529

$0.72$2.39$2.82$0.91$2.68$3.1530

$0.74$2.48$2.92$0.94$2.78$3.2631

$0.81$2.47$2.91$1.02$2.94$3.4532

$0.89$2.55$3.01$1.06$3.15$3.7033

$0.98$2.59$3.05$1.10$3.27$3.8534

$1.09$2.72$3.19$1.17$3.50$4.1235

$1.14$2.84$3.35$1.22$3.74$4.4136

$1.21$3.01$3.53$1.29$4.04$4.7537

$1.27$3.15$3.70$1.38$4.43$5.2138

$1.37$3.25$3.82$1.48$4.55$5.3439

$1.48$3.45$4.05$1.60$4.83$5.6940

$1.61$3.62$4.27$1.85$5.07$5.9741

$1.69$3.76$4.43$1.95$5.26$6.1942

$1.78$3.96$4.66$2.17$5.54$6.5243

$1.88$4.23$4.98$2.29$5.92$6.9644

$2.03$4.32$5.09$2.62$6.06$7.1145

$2.20$4.64$5.46$2.82$6.49$7.6346

$2.36$4.94$5.80$3.02$6.91$8.1347

$2.59$5.21$6.13$3.31$7.30$8.5948

$2.83$5.66$6.67$3.64$7.57$8.9049

$3.07$6.05$7.11$3.96$8.06$9.4950

$3.37$6.45$7.59$4.35$8.61$10.1251

$3.70$6.98$8.20$4.75$9.30$10.9452

$4.16$7.54$8.87$5.22$10.05$11.8253

$4.67$8.33$9.79$5.86$10.89$12.8154

$5.23$8.94$10.52$6.45$11.70$13.7855

$5.86$9.73$11.44$7.47$12.73$14.9756

$6.67$10.60$12.48$8.09$13.87$16.3357

$7.77$11.58$13.63$9.00$15.16$17.8358

$8.86$12.68$14.92$9.97$16.60$19.5259

$10.25$13.79$16.22$10.95$18.05$21.2360

$11.81$15.16$17.84$12.40$19.84$23.3561

$12.08$18.44$21.70$14.93$20.65$24.2962

$9.90$15.62$18.38$12.25$17.51$20.6063

$3.92$10.21$12.02$4.75$11.43$13.4664

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General insurance informationWhat happens to my cover while I am on employerapproved leave?

Your basic death and TPD plus any SC cover will continue while you areon leave. Any additional voluntary death and TPD cover you have willcontinue provided there are sufficient funds in your additionalaccumulation account to pay for your cover.

What happens to my cover if I am overseas?

Any death, TPD or SC cover you have with us will continue if you chooseto work overseas provided that you remain a member and continue tomeet the eligibility conditions.

You may need to return to Australia to make a TPD or terminal illnessclaim.

What happens to my cover if I leave my employer?

Your employer will let us know when you're no longer working for themand we'll write to you to let you know that we will transfer your definedbenefit to an accumulation account in Toyota Super. This transfer willhappen automatically 35 days after we write to you.

The total of your basic cover (used to support your defined benefits)and additional voluntary cover will transfer as fixed cover. The cost ofyour cover will be deducted from your new Toyota Super accumulationaccount.

When your cover ends

Your insurance cover will cease under certain circumstances including:

you reach age 65;

you commence service with the armed forces of any country otherthan the Australian Defence Force Reserves whilst performing dutiesin Australia;you cease to be an Australian citizen, a New Zealand citizen livingand working in Australia, the holder of a permanent Australian visa,or living in Australia on a temporary skilled work visa;you are the subject of a fraudulent claim;

for additional voluntary cover, you have insufficient funds in youradditional accumulation account to meet the next premium thatfalls due;you cease to be an Equip member;

you die;

you advise us that you no longer wish to be covered;

for TPD, you claim a terminal illness benefit and the insurer admitsthat benefit;for death (including terminal illness) and TPD, you claim a TPDbenefit or your dependants claim a death benefit and the insureradmits that benefit;for death (including terminal illness), the insurer admits a terminalillness claim and pays a benefit equal to your total death benefit.

Once your cover ceases, it will not restart automatically. You will needto apply for cover and complete underwriting.

Information required by the insurer when claiming

If you make a claim, the insurer will ask you to provide information tosupport your claim. The cost of providing this information is at yourown expense however if you are asked to attend an interview or medicalappointment arranged for you by the insurer, the insurer will pay thecost of it.

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Insurance words and termsDoctor – is a registered medical practitioner who is legally qualifiedand properly registered to practice in Australia, New Zealand, the UnitedKingdom, the United States of America, Canada or such place asotherwise agreed by the insurer. That person may not be the member,the member’s business partner or employer, or an immediate familymember.

Eligibility conditions – mean the conditions that you need to meet inorder to receive or maintain your insurance cover in Equip. You mustbe:

an Australian citizen, a New Zealand citizen living and working inAustralia, the holder of a permanent Australian visa, or living inAustralia on a temporary skilled working visa; andolder than 15; and

younger than 65.

Everyday Working Activities – means:

Mobility – you cannot:

walk more than 200m on a level surface without stopping due tobreathlessness; orbend, kneel or squat to pick something up from the floor andstraighten up again; orget in and out of a standard sedan car.

Communicating – you cannot:

speak in your first language so that you are understood in a quietroom, nor can you hear (even with a hearing aid or other aid) aninstruction given in a normal voice in your first language in a quietroom; orunderstand a simple message in your first language, and relay thatmessage to another person.

Vision – you cannot:

even with glasses, read ordinary newsprint; and

pass the standard eyesight test for a car licence.

Lifting – you cannot:

lift, carry or move objects weighing up to 5kg using your hands.

Manual dexterity – you cannot:

use your hands or fingers to manipulate small objects with precision.

Loading – means the additional cost that the insurer has applied toyou for your cover. A loading may be applied by the insurer during theunderwriting process if aspects of your health or occupation mean youpresent a higher risk.

Loss of use of – means:

the permanent loss of sight as a result of illness or injury to theextent that the visual acuity on the Snellen Scale eye chart is 6/60or less in both eyes, or to the extent that visual field is reduced to20 degrees or less of arc irrespective of corrected visual acuity, orthe loss of the use of a leg from at or above the ankle, or an armfrom at or above the wrist, which is permanent.

Partial disability (in salary continuance cover) – means that becauseof an injury or illness, and after having a total disability for a periodof at least seven days out of 12 consecutive days:

you are no longer suffering from a total disability; and

you have resumed, or in the insurer’s opinion are able to resume,partial employment; andas a result of the injury or illness that caused your total disabilityyou are receiving (or would receive if you returned to work) anincome that is lower than your pre-disability income; andyou are under the continuous and regular care of a Doctorundergoing the appropriate treatment.

Permanent employee – is either a long-term contractor (12 or moremonths) or a person who:

is employed for an indefinite duration; and

is required to perform specified duties a regular number of hourseach week; andis provided annual leave, sick leave and long service leave.

Personal Statement – is usually the first step in the underwritingprocess and includes questions on your job, hobbies or pastimes, andmedical history.

Total disability (in salary continuance cover) – means that because ofan injury or illness you are:

unable to perform at least one income producing duty of youroccupation (a duty that generates 20% or more of your monthlyincome); andunder the regular care of, and following the advice of, a Doctor; and

not working in any occupation, whether for reward or not for reward.

Underwriting – is the process the insurer uses to assess the risks ofproviding you with insurance cover. The risk is measured taking intoaccount your current health, past medical history and your familymedical history. For most underwriting cases, the first and only step inthis process is usually to complete the Personal Statement. In certaincases, you may then be asked to provide further health evidence, havesome blood tests, or a full medical examination by your doctor. Theresults of this underwriting process will determine whether you areaccepted for cover and, if so, the terms and cost of your cover.

Waiting period – means the time you need to wait before your TPD orSC claim will be assessed.

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Enquiries and complaintsYou can contact our Helpline on 1800 700 884 or send us a messageat toyotasuper.com.au when you have questions, need assistance, orif you're not satisfied with our product or the service you've receivedand would like to make a complaint.

We always try to resolve complaints quickly and to the satisfaction ofall concerned and in the best interests of all our members.

Complaints can also be made in writing to:

Complaints OfficerEquipGPO Box 4303Melbourne VIC 3001

You can find more information on the complaints process attoyotasuper.com.au

Equipsuper Superannuation Fund ABN USI SPIN

Togethr Trustees Pty Ltd ABN AFSL

Head o e

Mail Equip

Member Services Representatives

public holidays Fax equipsuper.com.au/contact

equipsuper.com.au

SuperRatings has awarded Equip a platinum choice rating, the top rating given to only the best superannuation products. Go to superratings.com.au for the full rating criteria.

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