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									                 SA Metropolitan Fire Service Superannuation Fund

Product Disclosure Statement (PDS)
Prepared 18 August 2005

Your member information booklet

   •   Retained Fire Fighters

Trustee:      SA Metropolitan Fire Service
              Superannuation Pty Ltd
              99 Wakefield Street
              ADELAIDE SA 5000
              ACN 068 821 750
              AFSL No 284890

              Fund Contact: Alan Kent, Manager
              Tel: (08) 8204 3826
              Fax: (08) 8204 3610
                SA Metropolitan Fire Service Superannuation Fund

About this document                                         Please remember, neither the trustee, the Fund nor
                                                            your employer can provide you with financial
                                                            advice as they do not hold an appropriate license.
SA Metropolitan Fire Service Superannuation Pty Ltd         Before making decisions about your super you
(ACN 068 821 750) is the trustee for the SA                 should seek advice from a licensed financial
Metropolitan Fire Service Superannuation Fund (ABN          adviser.
12 755 456 100) holder of an Australian Financial
Services License No 284890 and the issuer of this
Product Disclosure Statement (PDS).                         We’ll keep you informed
Any reference throughout this PDS to ‘the trustee’, ‘we’
                                                            As a Fund member you will be kept informed about the
or ‘us’ means SA Metropolitan Fire Service
                                                            progress of the Fund and your benefits. You may also
Superannuation Pty Ltd. Any reference to ‘your
                                                            request further information about the Fund. For details
employer’ means the SA Metropolitan Fire Service or
                                                            on keeping you informed see the Important General
any other employer that participates in the Fund. ‘Fund’
                                                            Information section of this PDS.
means the SA Metropolitan Fire Service
Superannuation Fund. Any reference to ‘financial
adviser’ means a licensed or appropriately authorised       Up-to-date information
financial adviser.
                                                            The information contained in this PDS is up-to-date at
This PDS describes in simple terms the superannuation
                                                            its preparation. However, some of the information can
benefits provided for Retained Fire Fighters. It contains
                                                            change from time to time. For example, fees or the
an outline of the main features and benefits provided by
                                                            structure of the Fund’s investments. If there is a
the Fund, details of current fees and charges that may
                                                            material change, inaccurate statement or omission the
impact on your account and recent investment
                                                            trustee will inform you as required. For any information
performance. The Fund is an employer sponsored
                                                            about the Fund you can call the Manager for an update.
superannuation fund that provides superannuation for
                                                            If there have been changes that do not materially affect
employees of participating employers. For more details
                                                            members the trustee may prepare a written update
see Important General Information on page 18 of this
                                                            showing those changes. If so, you will be able to obtain
                                                            the update in writing free of charge by contacting the
                                                            Fund Manager on 8204 3826.
This PDS should be read carefully and kept for future
                                                            Stay in touch
The information contained in this PDS is general
information only and does not take into account any
                                                            Please take the time to carefully read this PDS as
person’s individual financial objectives, financial
                                                            superannuation is an increasingly important component
situation or needs. We recommend that you speak to a
                                                            of financial planning during your working life as well as
financial adviser if you need help in making a decision
                                                            for retirement. The trustee welcomes any questions you
in relation to your membership of the Fund.
                                                            may have about your superannuation and may be
                                                            contacted as follows:
The value of investments in the Fund may rise and fall
from time to time. Neither the trustee or any
                                                            The Manager
participating employer guarantee the investment
                                                            SA Metropolitan Fire Service Superannuation Fund
performance, earnings or return of any capital invested
                                                            GPO Box 98
in the Fund.
                                                            ADELAIDE SA 5001
The trustee is responsible for the contents of the PDS.
Information about the insurance cover made available
through this PDS is based on information provided by
                                                            Adelaide Station
the Fund’s insurer. The insurer takes no responsibility
                                                            99 Wakefield Street
for any other information contained in the PDS.
                                                            ADELAIDE SA 5000
                                                            Ph: (08) 8204 3826 or 8204 3713
If you have a problem                                       Fax: (08) 8204 3610

The Fund has a process in place for dealing with
enquiries and complaints. Additional help is available to
members through the Superannuation Complaints
Tribunal. For more information, see the Important
General Information section on page 18 of this PDS.

                      SA Metropolitan Fire Service Superannuation Fund

Visit our website                                                                              Why your superannuation is
You can also access up to date information by visiting
the Fund website at
                                                                                               Many people don’t spend much time thinking about
For example, at the website you can:                                                           superannuation or retirement. Retirement may seem a
    •   view your current balance                                                              long way off and it may seem you have little control
    •   update your personal details                                                           over your superannuation. However, there are very
    •   change your beneficiaries                                                              good reasons why you should not just think about
                                                                                               superannuation, but actively take control of it.
You will need your member number and PIN together
with the Employer Number of 700375 to gain access to                                           Have you thought about how much money you will need
the site.                                                                                      in retirement to continue to live in the style you are
                                                                                               accustomed to? If you have a figure in mind, have you
                                                                                               thought about how you are going to achieve this figure?

Keep us informed                                                                               For many people, superannuation will be their largest
                                                                                               asset at retirement after their family home. This alone
To help with the administration of your benefits, please                                       should be reason enough for you to act now and take
let us know if you change address or your personal                                             control of your superannuation.
details change. We can only send you information
about the Fund and your benefits if we have your                                               To assist members, the trustee also has a preferred
current address.                                                                               financial advisory firm to provide members with basic
                                                                                               financial advice about your superannuation or, with your
                                                                                               approval, full financial planning advice for retirement or
                                                                                               wealth creation. This service is currently provided by
                                                                                               Industry Fund Financial Planning. However, if you have
                                                                                               a planner or wish to use another planner you are not
                                                                                               obliged to use this service. Please refer to the
                                                                                               Important General Information section on page 18 for
                                                                                               more details on this arrangement.

1.    What does Fund membership provide?........................................................................................................ 1

2.    Joining the Fund ............................................................................................................................................. 2

3.    Getting to know your Fund ............................................................................................................................ 3

4.    Contributions .................................................................................................................................................. 4

5.    Fees and Charges ........................................................................................................................................... 7

6.    The Fund’s Investments ............................................................................................................................... 10

7.    Death and disablement cover ...................................................................................................................... 12

8.    Nominating your beneficiaries..................................................................................................................... 15

9.    Tax and super................................................................................................................................................ 16

10. Important General Information .................................................................................................................... 18

                          SA Metropolitan Fire Service Superannuation Fund

                                                                                                           There is the risk that if you leave the Fund, you may get
1. What does Fund                                                                                          less than the amount of contributions paid in by you and
   membership provide?                                                                                     your employer because of taxes and/or low or negative
                                                                                                           investment returns. Please refer to the Fund’s
                                                                                                           Investments section for further details of the
Helping you save for retirement                                                                            investment risks that may impact on your super.

Whatever your saving plans are, the Fund is designed                                                       Other risks
to help you save towards your financial goals for
                                                                                                           Deed Amendment or Closure of the Fund

Benefits of being a member                                                                                 The trustee with the consent of the Fire Service may
                                                                                                           amend the Fund’s trust deed or the Fire Service could
                                                                                                           even close and wind up the Fund at some point in the
Super benefits                                                                                             future. This may affect the value of the super benefit
                                                                                                           you expect to receive.
The Fund provides a benefit for you as a member:
•   when you retire or cease employment with your                                                          Changes in Legislation
•   in the event of your death                                                                             A change in the laws that govern super may also impact
•   in the event of total and permanent disablement                                                        on your ability to access your money in the future or
                                                                                                           affect the tax effectiveness of your super savings. We
                                                                                                           will keep you informed about any material changes of
Tax concessions                                                                                            law which may affect your super. You should discuss
                                                                                                           any changes with a financial adviser.
The Government actively encourages Australians to
save for their retirement, and one of the ways it does                                                     Fees and Charges
this is by granting tax concessions to money invested
by regulated superannuation funds such as the Fund.                                                        As a member of Fund you may incur certain fees and
To obtain the maximum taxation savings, we                                                                 charges. There is a risk that these fees and charges
recommend you speak to a financial adviser. More                                                           may increase from time to time which may affect your
information on taxation can be found in the Tax and                                                        super benefit. You’ll be provided with 30 days prior
super section on page 16.                                                                                  written notice of any such increases.

Insurance cover                                                                                            Some useful definitions…
You may be eligible for death and total and permanent                                                      Your super benefit – this refers to the amount paid
disablement cover. The cost of this cover is currently                                                     from the Fund to or in respect of you. It doesn’t
met by the Fire Service through the Fund.                                                                  necessarily mean that you’ll receive it in cash. It’s most
                                                                                                           likely that at least part of your super will be ‘preserved’.
Member services                                                                                            Preservation - to make sure that your super is used
                                                                                                           only for retirement, it is subject to government
The Fund offers members a range of member services                                                         preservation rules. Generally, these rules mean you
including:                                                                                                 can’t access your super in cash until you retire
•    Regular newsletters and updates to keep you                                                           permanently from work and reach your preservation
     informed                                                                                              age, which varies from age 55 to 60 depending on
•    A telephone helpline service                                                                          when you were born. For more detail see the Important
•    Attendance at worksites to discuss your                                                               General Information section on page 18.
•    A website that provides access to information at
     any time.

Risks of Being a Member

Investment risks

As with any investment there is always a degree of risk
to being a member of the Fund. You need to be aware
that the value of your super in the Fund may rise or fall.

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                          SA Metropolitan Fire Service Superannuation Fund

2. Joining the Fund                                                                                        Step 6 - Once you’ve made your
                                                                                                           decisions, you can complete your
Who can join the Fund                                                                                      Application Form.
All Retained Fire Fighters are able to join the Fund on                                                    If you don’t fill out the Application
commencement of their contract with the Fire Service.                                                      Form…
Joining the Fund is simple. All you have to do is follow
the steps below, decide whether you wish to make extra                                                     It’s important that you take the time to follow the above
contributions and then complete the Application Form.                                                      steps, complete the Application Form and return it to
                                                                                                           your employer. If you don’t:

What you need to do to join                                                                                        •   you may not be covered for death and
                                                                                                                       permanent disablement insurance cover
Step 1 – See how your super works                                                                                  •   the Fund won’t know who you would prefer
                                                                                                                       your super to go to if you die while a member
                                                                                                                       of the Fund
The Getting to know your Fund section describes the
                                                                                                                   •   you may pay more tax than you need to.
workings of the Fund. To join the Fund you need to
complete an Application Form and return it to the Fund
                                                                                                           Once you have joined the Fund, you have the
Manager (see the front page for details).
                                                                                                           opportunity to change your details including:

Step 2 - Do you want to put extra                                                                                  •   the amount you pay to the Fund (if any)
money into super?                                                                                                  •   your preferred beneficiaries in the event of
                                                                                                                       your death.

You are not required to contribute to the Fund but you
can make additional contributions out of your pay from
after tax income. You can also make lump sum deposits
from other money you have. If you have super accounts
with previous employers you can transfer (or ‘roll over’)
all your super into your Fund account. See the
Contributions section on page 4 for more details.

Step 3 – Understand your insurance
A benefit is payable on your death or total and
permanent disablement. This may include an insurance
component. See the Death and Disablement cover
section on page 12 for more information and the Fees
and charges section on page 7 for details about the
cost of insurance cover.

Step 4 - Who will receive your
benefit in the case of your death?
The trustee must decide who your super is paid to if you
die. To guide the trustee, it’s in your interest to fill out
the ‘Nomination of Beneficiaries form’ included with this
PDS. See the Nominating your beneficiaries section
on page 15 for more information on who is eligible to
receive your death benefit.

Step 5 - Avoid extra tax by
providing your tax file number
Providing your tax file number when you join the Fund
means avoiding paying more tax than you have to. See
the Tax and super section on page 16 for more details.

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                          SA Metropolitan Fire Service Superannuation Fund

3. Getting to know your                                                                                            if the trustee has already complied with a transfer
                                                                                                                   request within the previous 12 months;
   Fund                                                                                                            if you request to rollover or transfer only part of
                                                                                                                   your interest in the Fund and the amount remaining
       •      How your super works                                                                                 would be less than $5,000;
       •      Your super benefit                                                                                   if the fund you nominate refuses to accept the
                                                                                                                   rollover or transfer.
How your super works                                                                                       For further information on transferring your
                                                                                                           superannuation benefit, including how this will impact
Your super is simple to understand. It’s known as an                                                       on your remaining superannuation entitlements and any
accumulation style of benefit.                                                                             withdrawal fees that may apply while still employed call
                                                                                                           the Fund Manager on 08 8204 3826.
Contributions or amounts are allocated to an account in
your name in the Fund by your employer and by you (if                                                      The trustee recommends that you seek advice from a
you choose to contribute). This amount is invested by                                                      licensed, or appropriately authorised, financial adviser
the trustee on your behalf, and your super account is                                                      before making any decisions regarding your super.
allocated with interest as determined by the trustee.
Taxes and surcharge may also be deducted from your
account – see the Fees and charges section on page
7 and the Tax and super section on page 16. The net                                                        Choice of Fund Legislation
amount is your super account balance.                                                                      From 1 July 2005 new laws allows certain employees to
                                                                                                           choose to direct their employer to pay its
Investment earnings are allocated to your account balance                                                  superannuation guarantee contributions to any
by way of interest according to the performance of the Fund                                                complying superannuation fund. If you become a
after allowance for administration costs, investment fees and                                              member of the Fund and then subsequently choose to
taxes. Your super account balance will rise and fall according                                             have your employer contributions paid to another fund,
to the ups and downs of the performance of the Fund over                                                   the Fire Service will need to notify the Trustee of the
time. The amount of interest allocated to your account will be                                             date contributions cease to be paid to the Fund. Your
shown on your benefit statement.                                                                           entitlements under the Fund will be affected as follows:
Returns are not guaranteed. You should be aware that                                                       •       all contributions by you and your employer will
returns and therefore interest allocated to your account may                                                       stop;
be positive or negative. For more details on the Fund’s
                                                                                                           •       you will remain a member of the Fund;
performance see The Fund’s Investments section on page
                                                                                                           •       insurance cover in the event of total and permanent
                                                                                                                   disablement will continue and premiums will
                                                                                                                   continue to be paid by the Fire Service.
Your super benefit
                                                                                                           If you elect to have your contributions directed to
You will be entitled to a super benefit:                                                                   another fund when you commence employment you will
                                                                                                           still be covered for death and permanent disablement
-      equal to your super account balance if you leave                                                    insurance cover from the date you commenced
       employment for any reason other than death or                                                       employment. You must therefore complete your
       total and permanent disablement                                                                     application form irrespective of whether you elect to
-      equal to your super account balance plus any                                                        have your contributions by the Fire Service paid to the
       insurance amount received - if you die or become                                                    Fund.
       totally and permanently disabled.


You may be able to transfer some of your super
account balance before you cease employment with
the Fire Service.

Superannuation law allows you to request that all, or
part, of your accumulation benefit be transferred to
another fund of your choice. The trustee must generally
comply with your request, however there are certain
circumstances in which a transfer request can be
refused including the following:

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                          SA Metropolitan Fire Service Superannuation Fund

4. Contributions                                                                                           You should contact your employer if you have any
                                                                                                           questions about this.
           •       What your employer contributes
           •       Superannuation Guarantee
           •       What you contribute – if you want to
                                                                                                           What you contribute - if you want to
           •       Tax on contributions
                                                                                                           You can put extra money into super, over and above
           •       Rollovers – multiple fees may eat away at                                               the contributions made by your employer. There’s no
                   your super                                                                              minimum contribution amount. Any contributions you
           •       Contributions after age 65                                                              make must be preserved. See the Important General
           •       Payment of benefits after age 65                                                        Information section on page 18 for more details on
           •       Co-contribution – the Government matches                                                preservation.
                   your after tax contributions to super
                                                                                                           You can make regular contributions by direct
What your employer contributes                                                                             deductions from your salary. You decide how much
                                                                                                           extra you’d like to put in as either a whole percentage or
                                                                                                           a fixed dollar amount in multiples of $10.
Your employer normally puts an amount equal to 9% of
your actual earnings into the Fund on your behalf based                                                    You can change the rate of your member contributions
on your monthly retainer plus fire attendance                                                              at 1 July each year.
payments. Super contributions are paid on the amount
you receive each month.
                                                                                                           Tax on contributions
This may not apply if:
                                                                                                           Tax is deducted from employer contributions . This tax
        Your employer also contributes to another fund for                                                 is normally deducted at 15% but contributions may also
        you;                                                                                               be subject to the surcharge tax if you are a high income
        Your employer is not required to meet the                                                          earner or have not supplied your tax file number. Tax
        Superannuation Guarantee (see below)                                                               may also be deducted in respect of any eligible
        requirements for you;                                                                              termination payment paid by an employer that is rolled
        Government legislation does not allow your                                                         into the Fund and in respect of certain super benefits
        employer to contribute on your behalf (for                                                         that contain an untaxed post June 1983 component. For
        employees under age 65 this will be rare).                                                         more details refer to the Tax and super section on
                                                                                                           page 16.
Superannuation Guarantee
                                                                                                           Rollovers - multiple fees may eat
Under Federal Government legislation all employees
must be provided with a minimum level of                                                                   away at your super
superannuation benefit known as the Superannuation
Guarantee or SG.                                                                                           You can rollover other super money into the Fund if you
                                                                                                           want to. If you’ve had other jobs in the past, you will
Employers are currently required to provide                                                                probably have super accounts with your previous
superannuation equivalent to 9% of an employee’s                                                           employers. You have the choice of rolling your other
earnings. There is also a maximum limit* on the                                                            super into your Fund account.
earnings on which the minimum level of super is
calculated.                                                                                                You will not be paying any fees and you have only one
                                                                                                           set of paperwork to think about. Why not discuss the
There are some circumstances where your employer is                                                        benefits of rollovers with a financial adviser?
not required to meet the SG minimum requirements.
These include:                                                                                             If you’d like to rollover other super into the Fund, just
                                                                                                           contact the Fund on 8204 3826. The Fund doesn’t
        You are under 18 and working less than 30 hours                                                    charge a fee for receiving money rolled in from other
        a week;                                                                                            funds, although you should check with your other fund/s
        You earn less than $450 in a calendar month;                                                       to see what fees or conditions they may apply if you
        Earnings in excess of $33,720* in a quarter                                                        wish to transfer your money.
        Your duties are purely domestic in nature for less
        than 30 hours per week;                                                                            Be aware that if the money you roll in is ‘preserved’, it
        You are over age 70;                                                                               stays preserved in the Fund (see the Important
        In certain circumstances if you are working                                                        General Information section on page 18 for
        overseas;                                                                                          information on preservation) and the money you roll in
        In certain circumstances if you have moved to                                                      can’t be paid out to you until you cease employment
        Australia from overseas.                                                                           from your employer.

*This is the maximum limit for the 2005/06 financial year. It
is indexed annually.

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                          SA Metropolitan Fire Service Superannuation Fund

Contributions after age 65                                                                                 The amount of the co-contribution you will get depends
                                                                                                           on your income* and the personal after-tax contribution
                                                                                                           you have made during the financial year. From 1 July
Employer contributions                                                                                     2004 onwards, the Government contributes up to $1.50
                                                                                                           for each $1.00 of personal contributions. The maximum
If you are still working after 65, generally contributions                                                 amount of co-contribution for a financial year is $1,500
will continue to be made. However, Government                                                              and is available to people whose income is $28,000 or
legislation will not allow such contributions in certain                                                   less. This maximum or cap then phases down by 5
circumstances.                                                                                             cents for each dollar of additional income and cuts out
                                                                                                           completely for incomes of $58,000 or more. You also
After age 65, the Fund can accept mandated employer                                                        need to meet other conditions to be eligible for the co-
contributions. ’Mandated’ employer contributions are                                                       contribution – these are set out below.
Superannuation Guarantee (SG) and/or contributions
required under an award or certified agreement.                                                            For example, if your income is $28,000 or less and you
                                                                                                           make a personal after-tax contribution of $1,000 (and
As there are currently no SG requirements beyond age                                                       you meet the other conditions set out below) you will be
70, mandated employer contributions after age 70 will                                                      eligible for a co-contribution of $1,500. If your income is
only be those that are required under an award or                                                          $40,000, and make a contribution of at least $1000 you
certified agreement.                                                                                       will be eligible for a co-contribution of $900.

The Fund can only accept employer (including salary                                                        The table below shows the after tax contribution
sacrifice) contributions for you up to age 70 if you have                                                  required by you to gain the maximum level of co-
worked at least 40 hours during any period of 30                                                           contribution from the Government based on various
consecutive days in the financial year to which the                                                        income levels. The actual amount of co-contribution
contributions relate. These contributions cannot be                                                        you receive will depend on your actual income* and the
made after age 70.                                                                                         level of contribution you make to the Fund.

Your Contributions                                                                                                 Your total   Maximum Co-        Contribution
Between ages 65 and 75, the Fund can only accept                                                                   income*      contribution       required by you
personal after-tax contributions made by you if you                                                                             available          to obtain
have worked at least 40 hours during any period of 30                                                                                              maximum co-
consecutive days in the financial year to which the                                                                                                contribution
contributions relate.                                                                                              Under        $1,500             $1,000
Once you reach age 75, the Fund cannot accept                                                                      $30,000      $1,400             $933.33
personal contributions.                                                                                            $35,000      $1,150             $766.67
                                                                                                                   $40,000      $900               $600
                                                                                                                   $45,000      $650               $433.33
Payment of benefits after age 65                                                                                   $50,000      $400               $266.67
Generally, if you are age 65 to 75 and have worked less                                                            $55,000      $150               $100
than 240 hours in the previous financial year, your                                                                $57,000      $50                $33.33
benefit must be paid to you by the Trustee.                                                                        $58,000      $0                 $0

Once you reach age 75, your benefit must be paid once
your employer is no longer required to pay mandated
employer contributions for you (i.e. those required                                                        * Income is your assessable income plus your
under an award or certified agreement).                                                                    reportable fringe benefits.
Please contact the Manager by calling 8204 3826 if you                                                     Eligibility for the Government co-contribution
start working less than 240 hours per financial year
                                                                                                           The co-contribution is currently only available to people
after age 65.
                                                                                                           who earn at least 10% of their income from employment
                                                                                                           as an employee even if there is no entitlement to
Co-contributions – the Government                                                                          employer superannuation contributions and will not be
                                                                                                           available to those self-employed persons who are able
matches your after-tax                                                                                     to claim a tax deduction for their contributions. You
contributions to super                                                                                     must also be under age 71 at the end of the year. It is
                                                                                                           not available to most temporary residents.
The co-contribution is a contribution by the
Government, to match personal after-tax member
contributions paid to a superannuation fund.

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                                                                            Page 5 of 23
                          SA Metropolitan Fire Service Superannuation Fund

Claiming the contribution – you don’t need to
do anything
The trustee must give the Tax Office information about
your contributions and those made by your employer.
Using this information and information in your tax
return, the Tax Office will work out if you are entitled to
receive a co-contribution. Any co-contribution payable
will then be sent directly to the Fund.

We recommend that you speak to a financial adviser to
work out how this might apply to you.

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                                                                            Page 6 of 23
                          SA Metropolitan Fire Service Superannuation Fund

5. Fees and Charges
The following table shows the Fund’s expenses or fees                                                      The Fund pays all insurance costs in relation to your
and charges that might apply to your superannuation                                                        death and disablement benefits from the Fund’s assets
benefits.                                                                                                  and does not reduce your benefit.

All expenses are current and may be revised, increased                                                     No GST is payable by you on any of the fees and
or added to or adjusted by the trustee from time to time                                                   charges described below.
due to changes to, for example, the superannuation
environment (eg Government regulations) or the trust                                                       You should read this fee information carefully, as it’s
deed. The trustee may also introduce new fees. While it                                                    important that you understand how these fees can
is not anticipated that fees and charges will change, if                                                   affect your benefits in the Fund.
there is an increase in fees the trustee must notify you
30 days in advance of the change or as required by

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

  For example, total annual fees and costs of 2% of your fund benefit rather than 1% could reduce your final return
                                          by up to 20% over a 30 year period
                                  (for example, reduce it from $100,000 to $80,000).

You should consider whether features such as superior investment performance or the provision of better member
                                    services justify higher fees and costs.

    You may be able to negotiate to pay lower contribution fees and management costs where applicable. Ask the
                                           fund or your financial adviser.

                                                                            TO FIND OUT MORE

     If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian
 Securities and Investments Commission (ASIC) website ( has a superannuation calculator to help
                                              you check out different fee options.

Fees and other costs table

TYPE OF FEE OR COST                                                                            AMOUNT                             HOW AND WHEN PAID
Fees when your money moves in or out of the Fund

Establishment fee
The fee to open your investment.                                                               Nil                                N/A

Contribution fee
The fee on each amount contributed to your investment – either by                              Nil                                N/A
you or your employer.

Withdrawal fee                                                                                                                    N/A
The fee on each amount you take out of your investment.

Termination fee                                                                                                                   N/A
The fee to close your investment.

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                                                                            Page 7 of 23
                          SA Metropolitan Fire Service Superannuation Fund

TYPE OF FEE OR COST                                                                            AMOUNT                                 HOW AND WHEN PAID
Management costs

The fees and costs for managing your investment                                                An asset based fee of                  This fee is deducted when
                                                                                               approximately 1.10% pa of your         determining the Fund’s crediting
                                                                                               super account balance                  interest rate.
                                                                                               (estimate only).
                                                                                               This estimate is based on the
                                                                                               management fee for the year
                                                                                               ending 30 June 2004. This fee
                                                                                               is calculated annually and may
                                                                                               differ in subsequent years.

The table below contains an example of the fees payable for a member investing in the Fund over a one year period
using certain assumptions about your contributions and account balance. You should use this table to compare the Fund
with other superannuation products.

EXAMPLE                                                                                                            BALANCE OF $50,000 WITH TOTAL
                                                                                                                   CONTRIBUTIONS OF $5,000 DURING
Contribution Fees                                                 Nil                                              For every $5,000 you will incur no cost.

PLUS Management Costs                                             1.10% of your super account balance              And, for every $50,000 you have in the Fund you will
                                                                                                                   be charged $550.00 each year.

EQUALS Cost of Fund                                                                                                If you put in $5,000 during a year and your super
                                                                                                                   account balance was $50,000, then for that year you
                                                                                                                   would be charged fees of $550.00. This represents
                                                                                                                   the estimated amount of management costs.

Additional explanation of Fees and Costs

This section provides further information on fees and costs.

Family Law: fees for information and for splitting your super – charged to members
and/or their former spouses for various services

    Where fees apply                                                                   Fee                Who pays the fee

    Application for information – in the format                                                           N/A.
    specified under the Family Law Act                                                 Nil
    Splitting a benefit                                                                $385               Shared equally by both parties and will be
                                                                                                          deducted from each super benefit at the time the
                                                                                                          benefit is split
    Flagging a benefit                                                                 Nil                N/A

For more information about Family Law and how it may affect you, please call or write to the Fund’s Manager.

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                                                                            Page 8 of 23
                          SA Metropolitan Fire Service Superannuation Fund

Variation to fees                                                                                          Insurance premiums
The fees outlined previously are determined by the                                                         Insurance premiums are currently paid from the Fund
trustee from time to time based on the expenses                                                            and there is a contribution from the Fire Service to
incurred in running the Fund and may be revised,                                                           cover this cost. If this arrangement were to change in
increased, added to or adjusted by the trustee from time                                                   the future you will be appropriately advised.
to time. You will be notified of any changes to the fees
outlined above.

Member protection

Superannuation legislation requires that administration
charges for members whose withdrawal benefits are
less than $1,000 do not exceed the investment earnings
credited in respect of the relevant reporting period
except in limited circumstances. The intention of the
legislation is to protect members with small account
balances against any erosion of this benefit due to
administration charges.

Because the administration and investment fees are
adjusted against the Fund earning rate members pay in
proportion to their super account balances, the usual
member protection does not apply where a member’s
benefit is less than $1,000.00.

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                                                                            Page 9 of 23
                          SA Metropolitan Fire Service Superannuation Fund

                                                                                                           •       Investment manager risk – the risk that a particular
                                                                                                                   investment manager will under perform (this could
6. The Fund’s Investments                                                                                          be for example because their view on markets is
                                                                                                                   wrong or because of their investment ‘style’ or
Investments are made in a range of asset types and                                                                 because they lose key investment personnel).
markets, including shares, fixed interest and property.                                                    •       Credit risk – the risk that a debt issuer will default
Therefore the value of the Fund's assets can increase                                                              on payment of interest and principal.
as well as decrease. As a result, the Fund’s declared                                                      •       Liquidity risk – the risk that you will be unable to
interest rate may be positive or negative.                                                                         redeem your investment at your chosen time.
                                                                                                           •       Currency risk – the risk that overseas investments
Your Fund has guidelines for                                                                                       gain or lose value as a result of a falling or rising
                                                                                                                   Australian dollar.
                                                                                                           The trustee has investment objectives and a strategy
The trustee has an investment policy that includes an                                                      which is aimed at minimising the impact of investment
investment strategy and objectives covering how and                                                        risk. However there are no guarantees and investments
where the Fund’s money will be invested. Having a                                                          will fluctuate with the prevailing markets.
strategy helps ensure that the Fund maximises
investment returns while maintaining an acceptable
level of risk. The investment policy also covers other
                                                                                                           Investment Objectives
related matters such as the appointment of investment
managers and guidelines for investments in futures and                                                     The Trustee has set objectives and the benchmark
options.                                                                                                   allocations to various asset classes has been structured
                                                                                                           to attempt to meet the objectives.
The trustee regularly monitors the Fund’s performance                                                      The Fund aims to maximize longer term returns by
against its objectives and strategy, and changes are                                                       investing in a prudently managed portfolio of diversified
made where necessary. A copy of the investment
policy document is available on request.
                                                                                                           More specifically, the trustee aims to earn a return for
Details of the Fund’s investments can also be found in                                                     the Fund which is 3% above the mortgage rate over
the Annual Report or by contacting the Fund’s                                                              rolling 3 year periods where the mortgage rate is the
Manager, Alan Kent.                                                                                        average of the four major banks variable rates at 30
About risk
                                                                                                           The Fund’s investment strategy
Most investments have some element of risk associated
with them. Generally, investment risk is the chance that
an investment will be different to what you expect. The                                                    The strategy used by the trustee in aiming for its
Fund’s investments could rise or fall in value or produce                                                  objective involves:
a return which is less than is anticipated. Rises and falls
in value occur for a variety of reasons and sometimes                                                              •   Appointing a number of investment managers
quickly. The types of investment risks which may have                                                                  to invest Fund assets along clearly specified
an impact on the Fund’s investment include:                                                                            guidelines;
                                                                                                                   •   Ensuring Fund assets are appropriately spread
•      Individual asset risk – the risk attributable to                                                                across a range of investments;
       individual assets within a particular asset class.                                                          •   Investing part of the Fund in “growth”
•      Market risk – the risk of major movements within a                                                              investments such as shares and property to
       particular asset class.                                                                                         take advantage of the higher long-term returns
•      Political risk – current domestic and international                                                             these assets typically provide;
       political stability can impact on your investment.                                                          •   Investing the balance of the Fund in
•      Inflation risk – the risk that money may not maintain                                                           “defensive” investments such as fixed interest
       its purchasing power due to increases in the price                                                              and cash to try to limit the amount of variation
       of goods and services (inflation).                                                                              in the return from year to year;
•      Timing risk – the risk that, at the date of                                                                 •   Targeting an average of 75% in “growth”
       investment, your money is invested at higher                                                                    investments and 25% in “defensive”
       market prices than those available soon thereafter.                                                             investments.
       Alternatively, it can also mean the risk that, at the
       date of redemption, your investments are                                                            The trustee monitors the Fund’s performance against its
       redeemed at lower market prices than those that                                                     stated objectives so it can modify the strategy if
       were recently available or that would have been                                                     required. The portfolio is reviewed at least annually to
       available soon thereafter.                                                                          ensure it remains appropriate for the Fund.

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                                                                           Page 10 of 23
                          SA Metropolitan Fire Service Superannuation Fund

                                                                                                           However, the trustee doesn’t undertake day-to-day
Use of derivatives                                                                                         management of derivative instruments. Derivatives may
                                                                                                           be used, among other things, to manage risk (eg. for
Derivatives, such as futures or options, are investment                                                    currency hedging). Losses from derivatives can occur
products whose value is derived from other                                                                 (eg. due to market movements).
investments. For example, the value of a share option is
linked to the value of the underlying share.
                                                                                                           Socially Responsible Investments
Investment managers may utilise derivatives in
managing investment portfolios for the trustee and in                                                      The Fund does not take labour standards,
managing pooled investment vehicles in which the                                                           environmental, social or ethical considerations into
trustee invests. The trustee monitors the investment                                                       account when selecting, retaining or realizing any fund
managers via the managers’ risk management                                                                 investments.
statements in the use of derivatives.

Past Investment Performance

The past performance of the Fund is shown below.

Year Ending                   2000                        2001                  2002                   2003             2004               5 year
30 June                                                                                                                                    average

Actual                        10.3%pa                     5.0%pa                -9.0%pa                2.4%pa           13.8%pa            4.2%pa
Crediting                     9.6%pa                      7.1%pa                1.8%pa                 -0.7%pa          2.0%pa             3.89%pa
Interest Rate

*Crediting interest rates of return are actual investment returns less tax, investment and all operating expenses of the
Fund and based on the Fund’s crediting rate policy (see below). This is the interest rate allocated to members’ super
accounts and may be positive or negative. For the period up to 30 June 2004 the crediting interest rate was calculated as
the average of the last 3 years actual investment return for the Fund after allowance for tax and costs associated with
running the Fund. From 1 July 2004, the crediting interest rate is calculated in accordance with the crediting interest rate
policy below.

How does investment performance                                                                            Crediting Interest Rate Policy
affect your benefits
                                                                                                           Crediting Interest Rate
Your super account balance is invested by the trustee
on your behalf and your super grows according to the                                                       The Trustee determines the interest rate at each 1 July
crediting interest rate allocated to your account. This                                                    for the preceding year to 30 June. The rate is
means your super account balance is linked directly to                                                     determined as the actual rate of earnings for the Fund
how the Fund’s investments perform net of tax,                                                             after allowance for tax on investments and costs
investment costs and administration fees. See the What                                                     associated with the operation of the Fund.
does Fund membership provide? section of this PDS
for more information on the investment risks and the                                                       Interim Crediting Interest Rate
investment options available.
                                                                                                           For members ceasing employment before the annual
The Fund’s crediting interest rate is also used in the                                                     interest rate is declared, an interim crediting interest
calculation of various benefits payable on ceasing                                                         rate is allocated to their super account balance. The
employment as detailed in the Your Benefits section.                                                       Trustee determines the interim crediting interest rate on
                                                                                                           a quarterly basis and is calculated as the actual rate of
                                                                                                           return for each quarter plus the rate earned by the
                                                                                                           Fund’s bank account from the end of the last quarter to
                                                                                                           the actual date of payment from the Fund.

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                                                                           Page 11 of 23
                          SA Metropolitan Fire Service Superannuation Fund

7. Death and disablement                                                                                   Death and total and permanent
   cover                                                                                                   disablement cover

           •       What cover is available                                                                 As a Retained Fire Fighter and member of the Fund
                                                                                                           under age 65 you will generally be provided with a basic
           •       Your insurance provider
                                                                                                           level of death and total and permanent disablement
           •       Conditions apply to your insurance cover
                                                                                                           cover. While employed you are covered 24 hours a day,
           •       Death and total and permanent disablement                                               7 days a week up to age 65. Your insurance cover
                   cover                                                                                   commences from the date of your commencement of
           •       Amount of cover                                                                         employment with your employer. If you are not at work
           •       Cost of cover                                                                           on day one you may be required to provide satisfactory
           •       What is total and permanent disablement                                                 health and other evidence to the insurer before cover is
           •       Claims                                                                                  provided.
           •       Cover while on leave without pay
           •       Details of your cover while working                                                     Amount of cover
           •       When your cover stops
           •       Continuing your cover after you cease                                                   The insurance cover is provided on a unit basis with the
                   employment with a participating employer                                                number of insurance units allocated depending on your
                                                                                                           age. The amount for each unit of cover at 1 July 2005
You’re entitled to a super benefit in the event of your                                                    is $3,824 and this amount increases each year in line
death or total and permanent disablement while you are                                                     with the annual increase in the CPI All Adelaide Group
employed by your employer as a Retained Fire Fighter.                                                      index to March. The table below provides details of the
                                                                                                           number of units of insurance depending on your age.
In these circumstances, your benefit is made up of
•    your super account balance. (See the Getting to                                                       Death and Lump Sum Total and
     know your Fund section for details) and                                                               Permanent Disablement - Number of
•    any insurance amount received from the insurer.                                                       units provided
If, under the policy, the insurer does not pay or refuses
or reduces your cover (or both) then your benefit will be                                                     Age in       Number of          Age in        Number of
reduced by the same amount not paid or provided as                                                            Years          Units            Years           Units
cover by the insurer.
                                                                                                             39 or less       35                50             24
                                                                                                                40            34                51             23
What cover is available                                                                                         41            33                52             22
                                                                                                                42            32                53             21
The insurance cover available in the Fund is for death                                                          43            31                54             20
and total and permanent disablement.                                                                            44            30                55             19
                                                                                                                45            29                56             18
                                                                                                                46            28                57             17
Your insurance provider                                                                                         47            27                58             16
                                                                                                                48            26             59 to 64          15
The trustee has appointed AMP Life Limited to provide                                                           49            25
the insurance for the Fund. The insurance is provided
under a policy of insurance issued by AMP to the                                                           Age in years is based on your age at the 1 July prior to
trustee. The trustee has the right to change the insurer                                                   the date you are accepted by the trustee as last working
from time to time. The cost for this cover is currently                                                    as a result of your injury/illness.
met by the Fire Service.
                                                                                                           An example
Conditions apply to your insurance                                                                         Jack is 45 years old and will therefore be allocated 29
cover                                                                                                      units of cover. This will provide a total amount of cover
                                                                                                           of $110,896 (29 x $3,824).
Like most forms of insurance, certain conditions (and
exclusions) apply to the granting or payout of your
insurance cover. Details of the conditions (and
exclusions) applicable to the insurance cover available
through the Fund are set
out in the pages that follow in this section.

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                                                                           Page 12 of 23
                          SA Metropolitan Fire Service Superannuation Fund

Cost of cover                                                                                              Payment of total and permanent
                                                                                                           disablement benefits
The cost of Death and Total and Permanent
Disablement cover is currently paid by the Fire Service                                                    The assessment of a TPD claim involves
except where you go on leave without pay. There are                                                        the collection of medical and other evidence. This may
no deductions from your account for the cost of                                                            mean that a decision is not made until some time after
insurance cover.                                                                                           you complete the qualifying period of 6 months. In some
                                                                                                           cases it may take as long as 6-12 months.
What is Total and Permanent
disablement?                                                                                               Medical evidence/ proof of age

Before becoming eligible for an insurance payout, you                                                      At some point you may be asked to provide evidence of
will need to be under age 65 and meet the insurer’s                                                        good health or proof of age. Special terms and
definition of total and permanent disablement (TPD).                                                       conditions may be imposed or the amount of cover
Generally this means:                                                                                      adjusted or refused if the information supplied is
                                                                                                           incorrect, or unsatisfactory or if you don’t supply the
•      you must have been absent from work through                                                         requested information. In these cases there will be a
       illness or injury for at least six months in a row; and                                             corresponding reduction or adjustment in your benefits.
•      the trustee and insurer must form the opinion,
       based on medical and other evidence, that you are                                                   Cover while on leave without pay
       unlikely to ever work in or attend to any
       employment, business or occupation for reward for                                                   Your death and total and permanent disablement cover
       which you are reasonably fitted by education,                                                       can generally continue for up to one year if you go on
       training or experience.                                                                             approved leave without pay, including maternity and
                                                                                                           paternity leave provided the premiums are paid. The
In addition you will be deemed to be totally and                                                           amount of cover will be based on your allocated number
permanently disabled if you suffer;                                                                        of units and your age. In this case, the premiums will be
                                                                                                           payable by you in advance of going on the period of
•   the loss of use of two limbs or                                                                        leave if you wish to have your insurance cover continue
•   the loss of sight of both eyes or                                                                      during the period of leave. If your unpaid leave goes
•   the loss of use of one limb and the loss of sight of                                                   beyond a year the insurer may agree with you to
    one eye;                                                                                               continue cover for an extended period.
 where ‘limb’ means a whole hand or a whole foot.
                                                                                                           If you don’t want cover while on leave without pay you
Special conditions relate to members that are                                                              can suspend it but you may need to provide satisfactory
considered to be in a Professional Occupation with their                                                   evidence of your good health in order to resume your
employer (eg. accountant, engineer, lawyer) or                                                             cover when you return to work. You will be advised if
undertaking Senior Managerial duties as outlined in the                                                    this is the case.
insurance policy with the insurer. You can contact the
Fund Manager for more details.                                                                             Cover while working overseas
                                                                                                           If you are asked to work overseas, you can generally
                                                                                                           continue your death and total and permanent
A claim must be made as soon as reasonably                                                                 disablement cover for up to two years. Insurance
practicable after the event giving rise to the claim. In the                                               premiums must be paid by you in advance of you
case of a TPD claim this must be made within seven                                                         departing Australia unless your employer agrees to pay.
months of the later of the date of the illness or injury or
the last day of work of the member. If notified later the                                                  You should advise us if you will be going overseas.
insurer reserves the right to reduce the amount of cover                                                   The trustee may need to obtain the insurer’s prior
in the event the insurer is prejudiced by the delay in                                                     written approval on your behalf. Your employer should
making the claim.                                                                                          advise the trustee of your departure. If you don’t have
                                                                                                           written approval, then you may not be covered. You
You will need to provide all relevant information to the                                                   should be aware that additional premiums may be
trustee or the insurer to enable the death or TPD claim                                                    payable and in some instances cover may be limited.
to be processed.                                                                                           You will be advised if this applies to you.

                                                                                                           If your cover ceases and you then subsequently return
                                                                                                           to Australia, you will need to provide health evidence
                                                                                                           before your cover will be reinstated.

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                                                                           Page 13 of 23
                          SA Metropolitan Fire Service Superannuation Fund

When your cover stops

Your death and TPD cover will cease on the earliest to
occur of:

       •      your attain age 65;
       •      30 days after ceasing employment with your
              employer (but earlier if you take up the
              continuation option);
       •      the date you cease to be member of the Fund
              but continue as an employee with your
       •      if the premium payment is one month late;
       •      if you work overseas and do not pay the
              premium or if you do pay the premium then
              upon the expiration of two years working
              overseas as notified to the insurer;
       •      if on unpaid leave or parental leave and do not
              pay the premium or if you do pay the premium
              then upon the expiration of one year of such
              leave as notified to the insurer
       •      you are ineligible for cover under the policy.

Continuing your cover after you cease
employment with a participating employer

If you cease employment with your employer and are
under age 60, you’re generally covered for up to 30
days after leaving employment by the Fund’s insurance
arrangements (but see cessation of cover above). You
may have the option of continuing insurance cover (for
death cover only if you are less than age 60 and death
and permanent disablement cover if under age 55) at
your own expense through a personal policy up to the
amount of cover that you had while a member of the
Fund. Satisfactory evidence of your good health may be
required and other conditions may apply.

You must apply to the insurer on the relevant form
before the later of 30 days from the date the trustee
receives advice of your cessation of employment and
you are advised of this option and two months from the
first of the date the trustee advises the insurer of
cessation of your insurance cover and the date you
commence in another group insurance arrangement,
generally via another employer sponsored
superannuation fund.

In the event that your employer doesn’t tell us that you
have ceased employment in time to meet the above
requirements, cover may be denied.

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                                                                           Page 14 of 23
                          SA Metropolitan Fire Service Superannuation Fund

8. Nominating your
If you die while you are a member of the Fund, the
trustee has discretion to pay your super benefit to any
one or more of your dependants and your estate in any
proportion it determines.

Because of this we need to know who you would like to
receive your super benefit.
The trustee of the Fund is not legally bound by your
wishes but will take them into account when exercising
its discretion. To let the trustee know your wishes, you
need to complete a Nomination of Beneficiaries form
included with this PDS.

Who can you nominate?

You have the choice of nominating one or more of your
dependants. For the purposes of the Fund a dependant
is any of the following:
•    your spouse (including de-facto but not same-sex
•    your children including step-children and adopted
     children, and
•    any other person who the trustee considers is
     wholly or partially dependent on you.

You can also nominate your legal personal
representative (your estate). If your legal personal
representative receives your benefit, it will be
distributed according to your will, or if you don’t have a
will, according to State law.

If you don’t have any dependants and no legal personal
representative has been appointed within 12 months,
and it is unlikely that one will be appointed, your benefit
shall be forfeited to the Fund.

Changing your nomination

You can change your nomination at any time by
completing a Nomination of Beneficiaries form. The
latest form will override any earlier form.

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                                                                           Page 15 of 23
                          SA Metropolitan Fire Service Superannuation Fund

                                                                                                           The surcharge tax could also have applied
9. Tax and super                                                                                           automatically if you had not provided your tax file
                                                                                                           number, irrespective of what you earned.
The tax treatment of superannuation is complex, and
accordingly cannot be explained in detail in this PDS.                                                     The surcharge has now been removed on
What follows below is a general description of the tax                                                     superannuation contributions made on or after 1 July
treatment of superannuation, current as at the date this                                                   2005 and eligible termination payments made by an
PDS was prepared. We suggest that you obtain                                                               employer on or after 1 July 2005.
professional advice about how the tax laws affect you.
                                                                                                           Although the surcharge has been removed in respect of
Overview                                                                                                   future contributions, it will continue to apply in respect to
                                                                                                           the period up to 30 June 2005. This means that the tax
Superannuation is generally taxed at three stages:                                                         office will continue to issue surcharge assessments in
                                                                                                           respect to contributions and eligible termination
•      Contributions paid into a superannuation fund
                                                                                                           payments made by employers before 1 July 2005.
•      Investment earnings of the superannuation fund
                                                                                                           If you rollover super into the Fund from another super
•      Benefits paid from the fund.                                                                        fund or from an employer, any liability to pay the
                                                                                                           surcharge tax for contributions to that fund which has
Providing your tax file number may save                                                                    not been paid, or in respect of the employer payout,
you tax                                                                                                    may be transferred to the Fund.

                                                                                                           If the Fund is required to pay surcharge tax in respect of
When you provide your tax file number to the Fund, you
                                                                                                           you, the tax payable will be allocated to your Surcharge
acknowledge that the trustee may supply your tax file
                                                                                                           Account in the Fund. If you rollover benefits into the
number to other relevant parties where it is authorised
                                                                                                           Fund from another super fund or from your employer,
or required to do so by law. If you don’t supply your tax
                                                                                                           any liability to pay the surcharge tax for contributions to
file number it may be necessary to deduct tax at the
                                                                                                           that fund which has not been paid or in respect of the
highest marginal rate plus the Medicare levy from any
                                                                                                           employer payment, may be transferred to this Fund. At
super benefit paid to you. Your contributions may also
                                                                                                           the time your benefit is paid from the Fund the balance
be subject to the highest rate of surcharge. It is not
                                                                                                           in your Surcharge Account will be deducted from your
compulsory to provide your tax file number but higher
tax rates may apply if you don’t.
                                                                                                           If we receive a surcharge assessment in respect to your
Tax on employer contributions                                                                              membership after you have left the Fund we will return
                                                                                                           it to the Tax Office. The Tax Office will either forward it
Contributions tax at a rate of 15% is deducted from                                                        to the Fund to which your benefit was paid or to you if
contributions made by your employer, including any                                                         your benefit was paid directly to you.
contributions you choose to make from your pre-tax
salary (salary sacrifice). The amount of contributions tax                                                 Tax on investment earnings
is levied on your net contributions after any insurance
premiums have been deducted.                                                                               The investment earnings of super funds are generally
                                                                                                           taxed at a maximum rate of 15%. The actual rate at
Tax at 15% is also deducted from amounts paid by                                                           which the trustee pays tax may be reduced below 15%
some Government funds and certain payments from                                                            due to the effect of various tax credits and rebates.
employers which are rolled into the Fund. These
amounts are considered to be from an untaxed source
and therefore tax must be deducted when they are                                                           Tax on benefits
received. The part that is subject to tax is normally
called the “untaxed post June 1983 component”.                                                             In most cases, tax is paid on benefits at concessional
                                                                                                           rates when they are taken in cash from the Fund. If the
If a taxable contribution or rollover is accepted into the                                                 amount is paid as a lump sum, the actual amount of tax
Fund, tax will be deducted immediately and it will be                                                      may paid depend on:
held until it is required to be paid to the tax office.
                                                                                                                   the amount of the benefit
Surcharge tax                                                                                                      the type of benefit
                                                                                                                   the date you started working
                                                                                                                   your level of taxable income
For some higher income earners there has been an
additional tax, known as the surcharge, on all employer                                                            your age when the benefit is taken as cash.
contributions (which includes any salary sacrifice
contributions you made) and tax deductible member                                                          The concessional tax rate only applies to benefits below
contributions. The surcharge tax may also have applied                                                     the Reasonable Benefits Limit (RBL), see below, where
to an eligible termination payment made by your                                                            you have given the trustee your tax file number when
employer.                                                                                                  you join or leave the Fund. The Fund Manager can tell
                                                                                                           you how to provide your tax file number.

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                                                                           Page 16 of 23
                          SA Metropolitan Fire Service Superannuation Fund

You may be able to defer the amount of tax paid by
rolling over your benefit into an approved
superannuation arrangement. Tax will then generally
be paid when you make withdrawals from that rollover

If the benefit is paid as a pension, it will be taxed as
ordinary income. However, if you have made
contributions from your after-tax salary, part of the
pension may also be tax free. A 15% tax rebate is also
available on the balance of the pension subject to
meeting certain tests. As personal circumstances differ,
we recommend that you seek specific tax advice from a
suitably qualified professional if you become entitled to
a pension.

Reasonable Benefit Limits (RBL)

A higher rate of tax will apply to any part of your benefit
that exceeds your Reasonable Benefit Limit (RBL)
which is set by the Government. Most super benefits
and employer golden handshake payments you receive
in your lifetime are added together and compared with
this limit. RBLs are indexed each 1 July in line with
increases in Average Weekly Ordinary Time Earnings
(AWOTE). For most members, the RBLs for the
2004/2005 tax year are:

       • Benefits taken as a lump sum
       • At least 50% of benefits taken as a complying
           pension*           $1,297,886
* A complying pension is one that meets specified
conditions as set down in the legislation

Some members may be entitled to a higher
“transitional” RBL based on their circumstances in 1994
when the current RBL rules were introduced. As the
RBL rules are very complex, before you retire you
should seek appropriate advice from a licensed
financial adviser particularly if your benefits are close to
or above the RBLs.

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                                                                           Page 17 of 23
                          SA Metropolitan Fire Service Superannuation Fund

                                                                                                           We’ll keep you informed
10. Important General
    Information                                                                                            As a Fund member you will be kept informed about the
                                                                                                           progress of the Fund and the growth of your benefits.

The trustee and trust deed                                                                                 After joining the Fund you will receive, at least:

The Fund operates as a trust, separate from your                                                           •       a welcome letter confirming your membership of
employer, and is managed by a trustee company, SA                                                                  the Fund – you will also receive confirmation of any
Metropolitan Fire Service Superannuation Pty Ltd. The                                                              balances transferred in
Fund’s assets are kept separate from any participating                                                     •       an annual report to keep you informed about
employer’s assets. This means the Fund’s assets can’t be                                                           investment performance, the Fund’s financial
used to pay any debts of your employer or any other                                                                position and what’s happened to the Fund over the
participating employer.                                                                                            year
                                                                                                           •       an annual member statement showing changes to
The Fund is an employer sponsored superannuation fund                                                              your super account
which is used by your employer to provide your                                                             •       notification of all material changes or the
superannuation benefits as a Retained Fire Fighter and                                                             occurrence of significant events
member.                                                                                                    •       a statement about your benefit when you cease to
                                                                                                                   be a member of the Fund and information about
The Fund is governed by a legal document called the                                                                what to do next
trust deed, including a set of governing rules. The trust                                                  •       newsletters to keep you informed
deed describes the rights and benefits of all the Fund
members, as well as the duties and obligations of the                                                      Further information available on request
trustee and the participating employers. If there is any
conflict between the trust deed and this PDS, the trust
deed will be the final authority. You can obtain a copy of                                                 As well as sending you regular information and
the trust deed by calling the Manager on 8204 3826 or                                                      answering your questions, the trustee can provide you
writing to the address shown earlier.                                                                      with further information including:
                                                                                                           •    the Fund’s trust deed
The trust deed requires the trustee to comply with the                                                     •    the Fund’s investment policy statement
Superannuation Industry Supervision legislation (SIS)                                                      •    the latest audited Fund accounts
and other legislation which governs superannuation                                                         •    the Fund’s Privacy Policy Statement
funds. This means the Fund is eligible for concessional                                                    •    the rules covering the appointment and removal of
taxation treatment.                                                                                             member representative directors on the trustee
The trustee’s main responsibilities are to make sure:                                                      •    the Fund’s disputes resolution procedures
                                                                                                           •    a summary of the most recent actuarial report.
•      your rights and interests as a member are
       protected;                                                                                          If you’d like to see copies of any of these documents
•      benefits are paid correctly and at the correct time;                                                contact the Manager on 8204 3826. There is no charge
•      the Fund's assets are invested properly; and                                                        for this information.
•      the overall operation of the Fund is conducted in
       accordance with the trust deed and relevant                                                         Financial Advice
                                                                                                           Require financial advice? Want to know whether you
Professional help                                                                                          should make salary sacrifice contributions or not? How
                                                                                                           much extra do you put into super to “top-it-up”?
Professional independent advisers such as investment
managers, administrators, consultants, actuaries and                                                       These are just some of the questions put to Fund staff
auditors, can be appointed by the trustee to help it fulfil                                                from members. Your employer, trustee, Fund and its
its responsibilities. Details of any advisers to the Fund                                                  staff are not permitted to provide members with
will be set out in the Fund’s annual report. Adviser’s                                                     financial advice as they are not appropriately licensed
fees are paid from the Fund as an expense.                                                                 to provide such advice.

                                                                                                           A new initiative introduced by the trustee is to have a
Trustee indemnity
                                                                                                           preferred advisory firm that can provide members with
                                                                                                           basic financial advice, and at members’ discretion, full
The trustee and its directors are entitled to be                                                           financial planning advice for retirement or wealth
indemnified from the Fund for costs and liabilities                                                        creation.
incurred in the proper management of the Fund except
in circumstances where indemnification is not permitted
by law (eg. wilful default, fraud or dishonesty).

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                                                                           Page 18 of 23
                          SA Metropolitan Fire Service Superannuation Fund

The trustee has chosen Industry Fund Financial                                                             Preserved amounts of over $200 are only accessible in
Planning (IFFP) for this role. IFFP is the financial                                                       cash if you satisfy one of the conditions permitted under
planning division of Industry Fund Services Pty Ltd                                                        superannuation law shown below.
whose Australian Financial Services Licence (AFSL No.
232514) authorises IFFP to provide financial planning                                                      •       You have permanently retired from work on or after
services. While the trustee has chosen IFFP this is not                                                            your ‘preservation age’ (see below).
to be construed as a recommendation or endorsement                                                         •       You are aged 60 or more and you resign or retire.
by the trustee to use IFFP. You are free to select any                                                     •       You are aged 65 or more.
licensed financial adviser you wish to provide you with                                                    •       The trustee is satisfied that you are permanently
advice on your personal financial circumstances.                                                                   incapacitated.
                                                                                                           •       You have compassionate grounds for applying.*
Members wishing to seek advice from IFFP can do so                                                         •       You suffer severe financial hardship.*
by calling IFFP and speaking to any one of the financial                                                   •       You leave Australia permanently (if you are a
advisors available.                                                                                                temporary resident and satisfy certain conditions –
                                                                                                                   contact the Fund for more details.
Industry Fund Financial Planning
Level 2
                                                                                                           * As specified under superannuation law and permitted under
104 Frome Street                                                                                           the trust deed. The Fund’s trust deed does not permit a
8125 2500                                                                                                  release of benefits in these circumstances.

Most advice that can be given over the phone is
provided at no cost to members.                                                                            Your ‘preservation age’

Interviews and plans are charged to the member                                                             Your ‘preservation age’ (ie the age at which your
seeking the advice at very competitive rates. The first                                                    preserved super can be paid to you in cash if you have
hour at interview is free. Members seeking this service                                                    permanently retired from the workforce) depends on
should always check with the advisors on the cost of                                                       your date of birth:
the service to be provided.
                                                                                                           Date of birth                       Preservation age
Please Note:                                                                                               Before 1 July 1960                  55
1.    Although the trustee has an arrangement with                                                         Between 1 July 1960 and             56
      IFFP for the provision of limited advice but this
                                                                                                           30 June 1961
      should not be seen as a recommendation or
      endorsement of IFFP by the trustee. The trustee                                                      Between 1 July 1961 and             57
      strongly recommends that any member seeking                                                          30 June 1962
      advice should at least obtain a second opinion                                                       Between 1 July 1962 and             58
      from another licensed financial advisory firm                                                        30 June 1963
      before acting on any advice given by IFFP.                                                           Between 1 July 1963 and             59
2.    Members seeking advice from IFFP must                                                                30 June 1964
      consider the advice they are given in context to
                                                                                                           After 30 June 1964                  60
      their own personal circumstances and other
      opinions they have received.
                                                                                                           The law requires that preserved super stays invested in
3.    The trustee, Fund, and its staff, accept no
                                                                                                           an approved superannuation arrangement. This could
      responsibility for the advice given by IFFP.
                                                                                                           include transferring any preserved benefit from the
4.    You are free to seek financial advice from any
                                                                                                           Fund to another employer’s fund, a personal super
      appropriately licensed adviser of your choice.
                                                                                                           fund, a rollover fund or a retirement savings account in
                                                                                                           circumstances where you cease employment.
Super and preservation
                                                                                                           Receiving your benefit and leaving your
Government legislation is designed to make sure that                                                       employer
your super money is used for retirement and,
consequently, there are restrictions on when you can
access your benefit. Your benefit may be made up of:                                                       After you have ceased employment you will receive a
•   An unrestricted non-preserved amount                                                                   statement from the Fund that shows:
•   A restricted non-preserved amount                                                                      •    the gross dollar value of your super
•   A preserved amount                                                                                     •    how it was worked out
                                                                                                           •    how much of your super must still be ‘preserved’,
The unrestricted non-preserved amount (if any) is that                                                          and
part of your super benefit that is payable in cash at any                                                  •    any estimated tax payable on your benefit.
                                                                                                           You will be asked to fill in a Request for payment of
Restricted non-preserved amounts are only payable                                                          Superannuation Benefit form to tell the trustee what you
when you cease employment. It is not available to you                                                      want to do with your super.
if you transfer to another employer that participates in
the Fund.

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                                                                           Page 19 of 23
                          SA Metropolitan Fire Service Superannuation Fund

If you don’t give instructions                                                                             •       The assets of the AERF are invested in underlying
                                                                                                                   investment products offered by ING Investment
                                                                                                                   Management Limited ABN 23 003 731 959,
Following your termination of employment with a
                                                                                                                   Colonial First State Investments Limited ABN 98
participating employer you generally have 90 days from
                                                                                                                   002 348 352, Suncorp Life and Superannuation
when you receive information from the Fund to make
                                                                                                                   Limited ABN 87 073 979 530, MLC Investments
arrangements for your super. If you don’t advise the
                                                                                                                   Limited ABN 30 002 641 661, MLC Limited ABN 90
trustee of where your benefit is to be paid your benefit
                                                                                                                   000 000 402, Zurich Australia Limited ABN 92 000
will be sent to an Eligible Rollover Fund (ERF) on your
                                                                                                                   010 195, Tower Australia Limited ABN 70 050 109
behalf. This benefit will then cease to be payable from
                                                                                                                   450, and Perpetual Investment Management
the Fund and can be claimed by you by contacting the
                                                                                                                   Limited ABN 18 000 866 535 (collectively the
ERF. An ERF is simply a holding account where your
                                                                                                                   Investment Sponsors) in accordance with the
benefit will remain until you notify the ERF where you
                                                                                                                   proportions specified in the AERF trust deed.
would like your money to be transferred.

For this purpose, the Trustee has selected the                                                             •       There is no choice of investment available to
Australian Eligible Rollover Fund (AERF). The AERF                                                                 members within the AERF.
can be contacted as follows:
                                                                                                           •       The investment objective of the AERF is to provide
           Australian Eligible Rollover Fund                                                                       members with long term growth and moderate
           Locked Bag 5429                                                                                         volatility through investment in a diversified
           PARRAMATTA NSW 2124                                                                                     portfolio with exposure to both growth assets
           Telephone: 1800 677 424                                                                                 (equities and property) and defensive assets (fixed
           Fax: 02 9947 4411                                                                                       interest and cash) through managed funds offered
                                                                                                                   by the Investment Sponsors.
Where a member’s benefits are transferred to the
AERF:                                                                                                      •       The AERF maintains an investment fluctuation
                                                                                                                   reserve to help smooth the earning rate credited to
•          the person ceases to be a member of the Fund                                                            members’ accounts. However there is no
                                                                                                                   guarantee that the investment returns will not be
•          any insurance cover with the Fund ceases                                                                negative.
•          the benefit will be credited to an account in the
           AERF, where it will earn interest and pay fees                                                  •       The trustee declares (generally within 3 months of
           under the rules of the AERF.                                                                            the end of a financial year) an earning rate to credit
                                                                                                                   to all member accounts in respect of that financial
About the Australian Eligible Rollover Fund                                                                        year. Members leaving the AERF prior to the
(AERF)                                                                                                             declaration of the earnings rate for the previous
                                                                                                                   financial year, will be credited with the interim
Set out below is a summary of some of the more                                                                     earning rate.
significant features of the AERF, current as at the date
of this PDS. For detailed information please contact the                                                   •       Depending in which sub-plan of the AERF an
AERF directly at the above address.                                                                                account is held, weekly administration fees, paid to
                                                                                                                   the AERF’s administrator and ranging from $0.32
•      The trustee of the AERF is Perpetual Trustee                                                                to $0.37, are deducted from that account (although
       Company Limited ABN 42 000 001 007.                                                                         during periods of negative returns, the
                                                                                                                   administration fees are deducted from the gross
•      All members of the AERF are protected, which                                                                returns of the AERF). Each of the trustee fee , the
       means that administration fees (other than tax)                                                             fees charged by the Investment Sponsors and an
       charged against the minimum benefits component                                                              allowance for expense recovery are deducted from
       of a member’s benefit cannot exceed the                                                                     the AERF’s gross returns before the trustee
       investment earnings of the minimum benefits for a                                                           declares the earning rate. The aggregate of these
       given reporting period. Member protection does                                                              fees is currently 0.84% p.a. (although part of this is
       not cover those fees and charges which are                                                                  an estimate based on past expenses).
       deducted from gross returns of the AERF before
       income is allocated to member accounts, nor does                                                    •       The AERF is unable to accept contributions from
       it protect a benefit against a negative earning rate.                                                       members or their employers, however, rollovers
                                                                                                                   from other superannuation funds are permitted.

                                                                                                           •       The AERF does not provide insurance cover.

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                                                                           Page 20 of 23
                          SA Metropolitan Fire Service Superannuation Fund

Unclaimed money                                                                                            GPO Melbourne Victoria 3001

If you are over age 65 and no longer gainfully employed                                                    Monitoring enquiries
and have not told the trustee where to pay your super,
then your benefit will be considered to be unclaimed                                                       The trustee may, at its discretion, monitor or record
money and will be placed with the SA Treasury which                                                        enquiries or transactions made by telephone. This is
handles unclaimed monies relating to companies based                                                       done for reasons of accuracy, security and service.
in SA. You can approach SA Treasury to claim any
such money directly.
                                                                                                           Protecting your privacy
Member-representative directors
                                                                                                           In order to provide your superannuation benefits and to
                                                                                                           properly manage the Fund, it’s necessary for the Fund
The board of the trustee comprises eight directors, four
                                                                                                           to hold personal information about you. This
appointed by and representing your employer and four
                                                                                                           information identifies you as a Fund member and
representing members.
                                                                                                           typically includes your name, address, date of birth,
The Member Directors are elected from two separate
                                                                                                           gender, occupation, salary, tax file number and any
electoral groups. Three Directors will be nominated by
                                                                                                           other information that is required.
the United Fire Fighters Union Inc (UFU) and one
Director, the Member-Elected Director, will be elected
                                                                                                           The Fund generally collects this information from either
by the members of the Fund who are not eligible to join
                                                                                                           you or your employer. Your personal information may
the membership of the UFU. Their period of office is up
                                                                                                           be disclosed to the Fund's administrator and
to three years.
                                                                                                           professional advisers, insurers, government bodies,
                                                                                                           your employer and other parties as required and
Subject to their being renominated and being willing,
                                                                                                           permitted by law, including the trustee of any other
Member Directors can be re-elected for a further term.
                                                                                                           Fund you may transfer to. By becoming a member of
                                                                                                           the Fund, it’s assumed that you consent to this handling
A UFU nominated Member Director can be removed
                                                                                                           of your personal information. If you do not provide the
from office by the UFU or in the case of the Member-
                                                                                                           Fund with your personal information, the Fund may not
Elected Director, written notice of a majority of the
                                                                                                           be able to provide all of your superannuation benefits.
members who are not eligible to join the membership of
the UFU.
                                                                                                           You may request access to your personal information
                                                                                                           held by the Fund. Should any of your personal
A formal set of rules governing the appointment and
                                                                                                           information be incorrect, you have the opportunity to
removal of Member Directors has been established. A
                                                                                                           correct it. There are, however, some circumstances
copy of these rules may be obtained from the Fund
                                                                                                           where you may be denied access to your information.
Manager if desired.
                                                                                                           The Fund's Privacy Officer will advise if any of these
                                                                                                           circumstances apply.
Enquiries and complaints
                                                                                                           The Fund abides by the National Privacy Principles
Most queries can be sorted out over the phone, but if                                                      under the Privacy Act 1988 (C’th) and has adopted a
we are unable to help you immediately, you may be                                                          Privacy Policy which sets out in detail the way it
asked to put your question in writing. You can write to:                                                   handles members' personal information. If you would
                                                                                                           like a copy of the Fund's Privacy Policy please contact
Enquiries and Complaints Officer                                                                           the Fund's Privacy Officer by writing to:
SA Metropolitan Fire Service Superannuation Fund
GPO Box 98                                                                                                 The Privacy Officer
ADELAIDE SA 5001                                                                                           SA Metropolitan Fire Service Superannuation Fund
                                                                                                           GPO Box 98
The Complaints Officer will generally reply to your                                                        ADELAIDE SA 5001
enquiry within 28 days. By law your complaint should be
resolved within 45 days. Sometimes further time is                                                         Family Law and your super
required for complicated matters. If more time is needed
you will be advised.
                                                                                                           Government legislation allows married couples to make
                                                                                                           binding agreements or obtain Court orders from the
If you have a complaint and you are not satisfied with
                                                                                                           Family Court in respect of how each partner’s super will
the response, or the matter can’t be resolved, you may
                                                                                                           be divided upon marriage breakdown.
be able to refer the matter to the Superannuation
Complaints Tribunal (SCT). The SCT is an independent
                                                                                                           Your super benefit may need to be adjusted to reflect
government body which is set up to help resolve
                                                                                                           any agreements or Court Orders which may be binding
disputes between super funds and their members. Any
                                                                                                           on the trustee. Splitting super entitlements with your
complaints must be lodged with the Tribunal within
                                                                                                           spouse will also affect the preservation components of
certain time limits.
                                                                                                           your super and may have tax consequences. You
                                                                                                           should seek professional advice as to the
For more information you can contact the SCT on 1300 884
                                                                                                           consequences of separation on your super.
114 or write to:
Superannuation Complaints Tribunal
Locked Bag 3060

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                                                                           Page 21 of 23
                          SA Metropolitan Fire Service Superannuation Fund

Please note that under the Family Law Act, the trustee                                                     Associated employers
is also required to provide certain information about a
member’s super benefit in the Fund to ‘eligible persons’
                                                                                                           The Fire Service and trustee may admit another
where the information is required to negotiate a
                                                                                                           employer as a participant in the Fund as an associated
superannuation agreement or to assist with a Court
                                                                                                           employer. If this happens certain employees of that
Order. For the purposes of the Family Law Act, an
                                                                                                           associated employer may be eligible to become
eligible person means a member, the spouse of a
                                                                                                           members of the Fund. Similarly any associated
member or a person who intends to enter a
                                                                                                           employer may cease to participate in the Fund in
superannuation agreement with the member.
                                                                                                           certain circumstances including if it gives thirty days
                                                                                                           notice to the trustee or if the Fire Service notifies the
The trustee may charge a fee when a request is made
                                                                                                           trustee and associated employer. If any of these events
for actions to be taken under the Family Law Act in
                                                                                                           were to happen the affected members would have their
respect of your super benefit.
                                                                                                           benefits appropriately adjusted and their adjusted
                                                                                                           benefits and membership Fund would be transferred,
You can also call the Fund Manager on 8204 3826 about
                                                                                                           subject to superannuation legislation, to another
family law matters affecting your super in the Fund. The
                                                                                                           superannuation arrangement.
current fees applicable are shown in the Fees and charges
section on page 7.
                                                                                                           Cessation of employer contributions
Amending the trust deed
                                                                                                           Your employer may on giving one month’s notice to the
                                                                                                           trustee terminate all or any of its contributions to the
The trust deed is a document that describes the rights                                                     Fund. If this happens the affected members may also
and benefits of all the Fund members, as well as the                                                       cease contributions and their benefits may be adjusted
duties and obligations of the trustee and your employer.                                                   by the trustee on the advice of the Fund actuary in a
All members are bound by the Fund’s trust deed. It can                                                     manner considered fair and equitable and either paid to
be amended by the trustee and the Fire Service at any                                                      the member if payable under the Fund’s trust deed or
time subject to certain restrictions.                                                                      transferred to another superannuation arrangement.
As circumstances change, it may be necessary for the                                                       Incapacity
trust deed to be amended. However, no amendment
made can reduce your benefit accrued up to the date of                                                     If a member or beneficiary is an infant or incapable of
the amendment without your consent, unless the                                                             managing their affairs the trustee may pay the
change is required by law. You’ll be advised, in writing,                                                  member’s benefit to another appropriate person (eg.
of the nature and effect of any amendment made to the                                                      parent, guardian, trustee) to be applied for the benefit of
trust deed.                                                                                                the member. The receipt of that other person shall be
                                                                                                           sufficient discharge to the trustee.
All amendments made must comply with the strict
requirements of the trust deed and all government
legislation. If you would like to see a copy of the trust                                                  Membership of other funds
deed, contact the Fund Manager on 8204 3826.
                                                                                                           If your employer is required to contribute either directly
You can’t borrow from the Fund                                                                             or indirectly on your behalf to a national superannuation
                                                                                                           scheme or another arrangement which has Government
                                                                                                           support, the trustee and the employer have the right to
You can’t borrow money from the Fund or use your                                                           adjust benefits in the Fund to take account of
super as security for a loan from any form of lender.                                                      entitlements that arise in that other national scheme or
Continuation of the Fund

While the Fire Service intends for the Fund to continue,                                                   Transfer to other funds
future events may make it necessary to change or wind
up the Fund.                                                                                               The Fund’s trust deed gives the trustee the power on
Under the Fund’s trust deed the Fire Service can                                                           you ceasing to be employed by your employer or during
terminate the Fund by giving one month’s notice to the                                                     your membership to transfer your benefit to another
trustee.                                                                                                   complying super fund either with or without your
If this should happen, the Fund will be closed and your                                                    consent as required or permitted by legislation and the
benefits can be adjusted by the trustee in a manner                                                        Fund’s trust deed.
considered fair and equitable (having regard the
remaining assets of the Fund after payment of all Fund
expenses and the provisions of the Fund trust deed).

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                                                                           Page 22 of 23
                          SA Metropolitan Fire Service Superannuation Fund

Information                                                                                                •       You change your employment status. In the case of
                                                                                                                   reducing your hours, if you are over age 65, and
                                                                                                                   depending on the circumstances, you may be
On joining the Fund or during membership you may be                                                                required to take your super benefit. In the case of
required to provide certain information on age, health or                                                          moving to a casual or a part-time arrangement,
other matters as reasonably required by the trustee. If                                                            your insurance options may be limited.
any of this information is incorrect or incomplete then
the member’s benefit may be appropriately adjusted on                                                      Taxation
a basis considered equitable by the trustee.
                                                                                                           The trust deed requires the trustee to comply with all
Claiming a benefit                                                                                         relevant superannuation laws. This enables the Fund to
                                                                                                           be eligible for tax at concessional rates. The trustee can
A person claiming a benefit must provide the trustee                                                       also deduct tax and surcharge from your super account
with any information and documents necessary to                                                            balance or from the Fund, as applicable. See Tax and
enable payment of the benefit.                                                                             super section. You may request a copy of the Fund’s
                                                                                                           governing rules by contacting the Fund Manager on
Insurance                                                                                                  8204 3826.

The trustee insures your death and total and permanent                                                     Financial position of the Fund
disablement benefit. If for any reason the insurer
refuses to pay all or part of a claim or provide cover for                                                 Although you have accumulation benefits your Fund is
a member then the member’s death or total and                                                              a defined benefit superannuation fund as the benefits of
permanent disablement will be reduced by the amount                                                        some members are described in the form of a benefit
not paid or covered.                                                                                       formula, generally based on salary.

Investment of Fund assets                                                                                  Your employer contributes a fixed percentage of
                                                                                                           defined benefit members’ salaries to assist in financing
The trustee is responsible for the management of the                                                       benefits. The balance of the funding requirements are
Fund’s assets. The assets of the Fund are held in Trust                                                    met by the defined benefit members and their
and must be invested in accordance with the                                                                contributions or benefits may vary from time to time
investment powers contained in the Trust Deed and                                                          depending on the Fund’s financial position. The level of
with Government requirements.                                                                              funding, ie the relationship between assets and benefit
                                                                                                           liabilities, of the Fund will vary from time to time. A
                                                                                                           professional, known as an actuary, is appointed by the
Material changes or significant events                                                                     trustee to advise on the level of funding. The Fund
                                                                                                           accounts are audited at the end of each financial year.
You will be provided with at least 30 days notice of any
proposed increases in fees                                                                                 In the event of the Fund winding up in the future at a
or charges. All other material changes or significant                                                      time when the total level of funding was insufficient, and
events will be advised as soon as practicable, but in                                                      the members being unable to make a contribution to
any event within the period required by superannuation                                                     fund the difference, the trustee and the Fund Actuary
law.                                                                                                       would need to determine whether benefits would need
                                                                                                           to be adjusted. Such adjustments, if any, will take into
Other provisions under the Fund’s                                                                          account the restrictions in the legislation which governs
                                                                                                           the running of super funds in such circumstances.
governing rules
                                                                                                           You will be advised annually of the Fund’s financial
Under the governing rules, there are provisions that                                                       position in the annual report or earlier in the case of a
may impact on your super.                                                                                  significant event occurring.
These provisions may apply if:
•   You fail to provide the trustee with information                                                       Distribution of surplus
    requested. In this case insurance cover may not be
    able to be provided to you or tax may be deducted                                                      As a retained fire fighter you will not be eligible for
    from your super benefit at the highest possible rate.                                                  allocation of any surplus assets.
•   Your employer ceases all or any of its contributions
    or provides super for you in another fund. In this
    case, your super account may not grow at the rate
    you may have anticipated.
•   You are on leave of absence. In this case, your
    super account may not grow at the rate you may
    have anticipated.

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