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									AnnualReport                  2001
THE FUND
OF CHOICE
FOR MORE
THAN 185,000
MEMBERS IN THE
MOTOR TRADES
Road test the new SUPERSITE
Road test the new SUPERSITE
see page 5
see page 5
MTAA Super members
MTAA Super members
better off by up
better off by up
to $500,000
to $500,000
in retirement
in retirement
see page 4
see page 4
Simple steps for a
Simple steps for a
comfortable retirement         SUPER WITH EXTRAS
                               SUPER WITH EXTRAS
comfortable retirement
see page 18
see page 18                      www.mtaasuper.com.au
                                 www.mtaasuper.com.au
                                     Inside
                                    s
                                    3    Chairman’s message                      MTAA SUPER
                                                                                 HELPLINE!
                                          NEWSL
                                    s
                                    4    The year’s highlights                   Call with any questions
                                                                                 you have about the Fund.
                                    s
                                    5    SUPERSITE — for MTAA Super online       (Local call cost from
                                                                                 anywhere in Australia.)
                PAGE 9
                                    s
                                    6    The economic year in review
                                                                                 GO TO
                                          SERVICESL
                                    s8   Looking after you and your family        BACK
                                                                                  COVER
                                    s
                                    10   Get a head start and stay ahead
                                                                                 for MTAA Super
                                    s
                                    12   We’re an industry on the move           office addresses
                                                                                 and other
               PAGE 11              s
                                    14   Take control of your super              contact details.

                                    s
                                    16   Your Member Statement explained
                                    s
                                    18   You’re never too young
                                         to think about retirement               All care is taken to ensure that
                                                                                 information is correct, but neither the

                                    s
                                    20   Loads of extras as standard for
                                         employers, members and their families
                                                                                 Trustee nor its advisers accept
                                                                                 responsibility for any error or misprint,
                                                                                 nor for anyone acting on this
                                                                                 information. This report to members is
                                          YOUR SUPERL                            not intended as personal financial
               PAGE 13
                                    s
                                    22   Returning the profits to you            advice. People intending to act on
                                                                                 information in this report should
                                    s
                                    24   What you should know
                                         about your super fund
                                                                                 consult a financial planner first.
                                                                                 Correspondence regarding this Annual
                                                                                 Report should be directed to: MTAA
                                                                                 Superannuation Fund, Administration,
                                          YOUR INVESTMENTSL
                                                                                 Locked Bag 20, Grosvenor Place, Sydney
                                    s
                                    26   Where your money is invested            NSW 1216.
                                                                                 This Annual Report was published by
               PAGE 23                    YOUR FUNDL                             the Motor Trades Association of

                                    s
                                                                                 Australia Superannuation Fund Pty
                                    29   Who looks after your money?             Limited ABN 14 008 650 628 Licensed
    COVER PHOTO: ANDREW
    GLEDHILL, MTAA SUPER
                                    s
                                    30   About your Fund                         Dealer in Securities, as Trustee of the
                                                                                 Motor Trades Association of Australia.
                                    s
    BDM WITH JENNY FULLER
    AND DANIEL CHEE,                32   BACK COVER Win $1,000                   Produced for MTAA Super by
                                                                                 Social Change Media.
    CITY HYUNDAI, NSW                    by telling us what you think

2   MTAA SUPER ANNUAL REPORT 2001
                                 Chairman’s message
                                 Welcome to the MTAA Super Annual Report for the 2000/2001
                                 year. On behalf of the Trustee and management team of MTAA
                                 Super, I am pleased to report to you on the operations of your
                                 Fund for the past financial year.

IMPROVED SERVICES                                      We are also committed to                  Over the longer term, the Fund
It was a year in which we continued to             continuously improving our                 continues to exceed its stated investment
improve our services to members and                communications with you. To this end,      objectives by crediting rates which are
introduce some new initiatives. Many of            if you would like to give your opinion     well ahead of inflation and compare
you will have already attended an                  about this Annual Report (and go into      very favourably to similar
MTAA Super information presentation,               the draw for a $1,000 contribution to      superannuation funds.
conducted by one of our state-based                your MTAA Super account), we invite
Business Development Managers                      you to complete a short survey on our      A SECURE FUTURE
(BDMs). This year, we employed eight               website at www.mtaasuper.com.au            I am pleased to say that the outlook for
new BDMs and increased the number of                                                          your Fund is very good and that this
Customer Service Advisers (CSAs) to                INVESTMENT PERFORMANCE                     year has been another year of growth,
provide an even more comprehensive                 You may already be aware, from much        with total assets under management
service to you.                                    media commentary, that the past year       increasing to $1.3 billion.
    Also this year, we launched the                was a difficult one for investment             If you have any queries about this
Fund’s SuperService option which                   markets, resulting in most funds           report, about the Fund, or if you would
allows members and employers to                    crediting lower returns to members than    like to see a BDM or CSA please
access their MTAA Super details                    in previous years.                         contact your MTAA Super Helpline
through the Internet.                                  Against this background, I can         staff on 1300 362 415. We look
                                                   report that MTAA Super has again           forward to serving you in the coming
LISTENING TO MEMBERS                               achieved returns equal to or better than   year.
As you’ll see on page 4, independent reports       many similar super funds. MTAA
by Access Economics and Rainmaker                  Super’s Secure option has credited
Information have confirmed the significant         4.95%, while the Balanced option
benefits available to members of                   credited 6.5% and the Growth option
MTAA Super.                                        credited 5.5%.
    To ensure we understand what it is you             Over three years the average
want from your super fund in the future, we        crediting rate for the Secure option has             CHAIRMAN
have just completed a major research project       been 5.57%, for the Balanced option                  JOHN RICKUS
and I thank all members and employers who          9.4% and the Growth option 11% per
took part.                                         annum. Over five years, the average
    The results of this research will be used to   crediting rate for the Balanced option
improve our services and products for you.         has been 11.33% per annum.

                                                                                                          MTAA SUPER ANNUAL REPORT 2001   3
    NEWS




    YOUR FUND IS AMONG AUSTRALIA’S TOP FUNDS
    The access to extra services you have through MTAA Super, plus                                    FIND
                                                                                                      OUT
    our strong returns and low fees, put us among Australia’s top funds,                              MORE
    according to two recent independent studies.                                                      You can read extracts
    It’s official: MTAA Super is one of the top    savings in superannuation fund fees worth          from both the Rainmaker
                                                                                                      Information and Access
    industry funds in Australia in terms of the    many tens of thousands of dollars over a           Economics reports on the
    extra benefits we offer our members.           working life, compared to a person in an           MTAA website:
    Combined with our excellent history of         average master trust”.*                                 www.mtaasuper.com.au
                                                                                                           www.mtaasuper.com.au
    returns, that can translate to a lot more          In addition to MTAA Super’s low fees
    money in your MTAA Super retirement            and strong history of investment returns, if a     or call your local Business
    account!                                       member also takes full advantage of MTAA           Development Manager on
                                                   Super’s benefits, such as low-cost home
    MTAA SUPER SAVES YOU TRUCKLOADS                loans and insurance, independent analyst
    An independent assessment by Access            Rainmaker Information reports that you
    Economics, one of Australia’s most respected   could be up to half a million dollars better     *Source: Access Economics, May 2001
    economic commentators, found that              off, over your lifetime, than if you had         **Source: Rainmaker Information, May 2001
    “Membership of MTAA Super provides             joined a typical master trust.**




                                          The year’s high
                                          TAKING HOME GOLD
                                    MTAA Super’s Key Features Statement              The CMSF Awards recognise
                                    brochure for members was awarded the         excellence in superannuation
                                    prestigious Gold Award at the 2001           communications and we’d like to thank
                                    Conference of Major Superannuation           you, our members, for letting us know
                                    Funds (CMSF) Communications Awards,          what you want to see in our publications
                                    held in March. The Fund’s Member             – so we can make them interesting,
                                    Benefits, Member Handbook and                informative and relevant for you.
                                    Insurance
      JMIFA CEO JANE CUTLER,        Handbook each        WIN $1000
      MTAA SUPERANNUATION           won Bronze           GO TO     Awards are great, but MTAA Super wants to ensure we
      EXECUTIVE OFFICER PAUL WATSON Awards.                        continue to keep our communications relevant and
      AND CMSF CHAIR                                                    informative for you. You can help. Let us know what
                                                               BACK
      MAVIS ROBERTSON                                          COVER    you think about this publication and you could win a
                                                                        $1,000 contribution to your MTAA Super account.


4   MTAA SUPER ANNUAL REPORT 2001
  CRUISE CONTROL                                                                           IMPROVING
  Now you can keep track of your                             LEARN MORE                    SERVICES FOR YOU
  super whenever it suits you. Take a
  cruise through the new secure
                                                             To learn more
                                                             about these service
                                                                                           Members have
  Internet link to your super account –                      initiatives, order a
                                                             copy of the MTAA
                                                                                           their say
  SUPERSITETM.
                                                             Superannuation
      For security reasons you must                          Fund brings you               As part of continually
                                 TM
  register first to use SUPERSITE but                        SuperService                  improving services to
  once you do, you’ll be able to do all                      brochure, or to               members, MTAA Super, with
  of the following with total                                register for
                                                             SUPERSITETM and               the assistance of professional
  confidentiality:                                           SUPERPHONETM call             research consultancy firm,
  • keep track of your super – you’ll                                                      Corporate Diagnostics,
    be able to see your last annual                                                        recently surveyed close to a
    statement balance, plus details of
                                                                                           thousand motor trade
    contributions since your last statement (including rollovers), and any fees or
                                                                                           employers and employees
    payments;
                                                                                           around Australia to find out
  • notify a change of address or change of insurance beneficiary; and
  • submit your tax file number (if you have not already done so).                         more about:
                                                                                           • what members need and
                                     The same registration and PIN you use for                want to know about their
                                                                                              superannuation;



lights
                                     SUPERSITETM can be used on SUPERPHONETM,
                                     which also allows you to check your account           • what type of
                                     balance and other details, or talk directly to           communications members
                                     customer service staff.                                  prefer;
                                                                                           • what MTAA Super benefits
                                                                                              and services members are
                                                   In addition, we           FIND             satisfied with; and
 WE’RE HERE FOR YOU!                           appointed a new team          OUT           • members’ opinions about
                                               of eight Business             MORE
                                                                                              MTAA Super.
                                               Development Managers          For more      The results are currently being
                                               (BDMs), and increased         information   compiled and we thank
                                               our Customer Service          about
                                                                             services      everyone who participated.
                                               Advisers (CSAs) to            for you       The opinions and feedback
                                               provide an even more          GO TO         given will allow MTAA Super
                                               comprehensive service
PETER JONES, MTAA SUPER BDM (LEFT),            to you.                                     to gain a better understanding
                                                                              PAGE
WITH BILL STEWART OF WIPPELL’S AUTOS QLD           So whether you’re          20           of members’ and employers’
                                               running a business, or                      current and future
Our commitment to helping you                  you want to know more                       requirements, so we can
understand and plan for your financial         about services available to MTAA Super      continue to deliver relevant
future has, over the past 12 months, seen      members, simply call 1300 362 415 to        and useful services and
the enhancement of our call centre and         make contact with the right person to       products.
administration services for members.           assist you.

                                                                                             MTAA SUPER ANNUAL REPORT 2001   5
    NEWS




                The year in review                       Investment performance 2000/2001
    As Australian super funds declare historically lower returns for the financial year just ended, it’s
    timely to remember that super is invested for long-term results. Leading economic commentator,
    ACCESS ECONOMICS takes us through MTAA Super’s performance for the past year.


      By any standards the year to 30 June 2001 was a difficult one for
      investment markets. As a result, many Australian super funds are likely
      to declare a rate of return below that of recent years.
          However, as superannuation is a longer term investment for
      retirement, the most important thing to keep in mind is the long-term
      nature of super investments. Your Fund, MTAA Super, has a diversified
      investment strategy designed to generate consistently strong performance
      that, over time, will outperform strategies
      based solely on traditional asset class returns.
                                                           FOR MORE
                                                           INFORMATION
      HOW EACH INVESTMENT OPTION                         GO TO
      PERFORMED
                                                                    AND          ACCESS ECONOMICS INVESTMENT
      To give you a more detailed idea of how your        PAGES     PAGES        CONSULTANTS (FROM LEFT) GRAHAM MATTHEWS,
      investment options have performed,                  14-15     26-28
                                                                                 DR DAVID CHESSELL AND ALEXANDER AUSTIN
      we discuss each investment option, below.



      MTAA GROWTH                                                       MTAA BALANCED
      The MTAA Super Growth option returned 5.5% for the                The MTAA Balanced option returned 6.5% for the
      2000/ 2001 financial year. This was below this                    financial year. As with the Growth option, this was below
      option’s average return over the previous two years, but          the average return of this option for the past few years,
      higher than most other growth funds.                              but higher than many other funds with balanced options.
          The Growth option invests more in ‘growth’ assets,                The Balanced option invests in a broad range of
      such as shares and property, and less in ‘passive’                assets, with a mix of investment risk. The decline in
      assets such as cash and fixed interest. The decline in            global equity markets also hurt returns in the Balanced
      share markets outside Australia had an impact on                  option, but was partly offset by strong returns from
      returns during the 2000/2001 financial year.                      overseas and Australian fixed interest.
          Over the three years the Growth option has been                   The Balanced option has returned an average 9.4%
      available, the return has averaged 11% per annum                  per annum over three years after taxes, fees and
      after taxes, fees and charges.                                    charges.

6   MTAA SUPER ANNUAL REPORT 2001
                                                                THE AUSTRALIAN GEOLOGICAL SURVEY OFFICE (AGSO) BUILDING,
                                                                      SYMONSTON, ACT (PURCHASED BY MTAA SUPER IN 2000)


                                                                                         R.G. CASEY BUILDING, BARTON, ACT
MTAA SECURE                                                                           (PURCHASED BY MTAA SUPER IN 1998)

The MTAA Secure option returned 4.95% for the
financial year, which was slightly lower than this
option’s average return over the previous two years, but
still well in excess of most bank account rates of returns
and in line with other similar investment options.           Access
     The Secure option invests mostly in relatively low      Economics
risk assets, such as cash and fixed interest. As a result,   July 2001
returns in the last financial year were little affected by
the drop in global share markets.
     The Secure option has returned an average 5.57%
per annum over three years after taxes, fees and
charges.

                                                                                           MTAA SUPER ANNUAL REPORT 2001    7
    SERVICES




    Looking after you and
    How much protection is enough?
    Have you recently married or had                  FIND OUT MORE                   IT’S EASY TO INCREASE YOUR COVER
    another life-changing event like                                                  Luckily it’s easy to cover your insurance needs
                                                                                      with MTAA Super. As a member you
    having a child, buying a home or                                                  automatically have one unit of death only
    being promoted? If you said ‘yes’ to                                              insurance cover for the low cost of $1 per
                                                                                      week, plus any additional cover you requested
    one or more of these questions, you                                               after joining the Fund.
    probably need to look at whether                                                      You can apply for additional death cover,
    you still have sufficient life and                                                Total and Permanent Disability insurance and
                                                                                      Income Protection insurance at any time – all
    disability insurance to maintain                                                  at a very reasonable cost. The Fund’s Income
    your and your family’s needs,                                                     Protection insurance can provide you with a
                                                                                      benefit up to 75% of your current gross
    should something happen to you.                                                   income for up to two years if you have an
        It’s easy to think of insurance as ‘set and                                   accident or suffer an illness that prevents you
    forget’. However, your level of insurance                                         from working in your usual occupation for
    needs will change in line with your changing      To get a copy of the            more than 60 days.
                                                      MTAA Super Insurance
    responsibilities.                                 brochure, call
        For example, if one partner in a marriage                                     GIVE YOU AND YOUR FAMILY
    dies or becomes injured, the bills not only                                       PEACE OF MIND
    continue, they can increase (extra childcare      or log on to                    Make sure you and your family benefit from the
    costs being just one possible addition). Even            www.mtaasuper.com.au
                                                             www.mtaasuper.com.au
                                                                                      peace of mind that adequate insurance provides.
    singles need to ensure their bills can be paid                                    Hopefully, you’ll never need it, but there’s
    if something happens to their income.                                             comfort in knowing protection is there.


      SHARE THE BENEFITS WITH FAMILY AND FRIENDS                                                      FIND OUT MORE
                                                                                                      To find out more about
      Your family and friends can also take advantage of      
                                                              s low fees;                             our Public Offer
      all the benefits MTAA Super offers because you          
                                                              s competitive returns;                  membership, call MTAA
      don’t have to be working in the motor trades to         
                                                              s low-cost life and disability          Super on
      join MTAA Super. It is a Public Offer Fund, which         insurance;
      means that your partner can join, and so can            
                                                              s low-cost home and business loans;
                                                                                                      or log on to
      anyone who wants to enjoy the benefits of being           and
      in one of Australia’s best industry funds including:    
                                                              s hassle-free account administration.       www.mtaasuper.com.au
                                                                                                          www.mtaasuper.com.au




8   MTAA SUPER ANNUAL REPORT 2001
your family

                “I have had businesses in the motor trade all my working career
                and whenever I set up superannuation for the mechanics and
                myself I always organise it with MTAA Super. It’s the super and
                insurance for the motor trade.”
                                                Chris Rippon, Australian Brake Company, VIC
                                                Chris Rippon, Australian Brake Company, VIC
                                                                          MEMBER SINCE 1989
                                                                          MEMBER SINCE 1989




 WITH CHRIS ARE
 (AT LEFT) LOUISE
 CHARSLEY, MTAA
 SUPER CSA
 AND DIANNE CHITTY,
 MTAA SUPER BDM,
 VIC                                                              MTAA SUPER ANNUAL REPORT 2001   9
     SERVICES




     Get a head start and
     …with low cost home loans and financial planning advice
     STRAIGHT TALK ON SUPER                                           FREE INFORMATION SEMINARS
     The good news is that we’re all living longer.
                                                                      Have you ever wanted someone to just explain how super
     The bad news? You and your partner will                          works, in plain English? Come to a free SUPER TORQUE
     probably have to support yourselves for                          information seminar, specifically designed for people working
     20–30 years after you stop working!                              in the retail motor trades, and you’ll learn everything you
                                                                      need to know to get your
        Once the pay packet stops coming in,                          super plan into high gear.
     how will you maintain your lifestyle? That’s                         Bring your partner           FIND OUT MORE
                                                                      along – after all, super’s a     For details about SUPER
     the big question for many Australians, and a                     plan for both of you to live     TORQUE seminars in your
     major part of the answer is to plan ahead                        happily ever after               local area log on to
     and have adequate super.                                         (retirement)!                        www.mtaasuper.com.au
                                                                                                           www.mtaasuper.com.au
                                                                          You can also ask your
        MTAA Super aims to make that planning                         employer to take advantage       For information about work-
                                                                                                       place presentations call
     easier for you, by helping you access the                        of FREE presentations
                                                                      MTAA Super can hold at
     professional services and independent                            your workplace.
     knowledge you need.


       WHO NEEDS TO BE A MILLIONAIRE?                                   DISCUSS
                                                                        YOUR
                                                                        REQUIREMENTS
                                                                                                              Low-cost
       If the idea of getting financial planning
       advice sounds like it’s out of the
                                                       You’ll be
                                                   reassured to           To discuss your                     loans for
       average Australian’s league, think          know that the
                                                                          requirements with the
                                                                          IFS financial planner               home or
       again. As a member of MTAA Super            advice you get
       you can access low-cost financial           from IFS is
                                                                          closest to you, call
                                                                                                              business –
       advice from the professional,
       independent advisers at Industry Fund
                                                   down-to-earth,
                                                   unbiased and
                                                                                                              now that’s
       Services (IFS).
           They’ll help you develop a financial
                                                   isn’t based on
                                                   ‘kickbacks’ – they take no upfront fees and any
                                                                                                              super!
       plan for your future, with achievable       trailing commissions or similar fees from any
       goals designed to take you from where       recommended investments are paid to charity –
       you are now – to the lifestyle you see      which means every dollar of your hard-earned
       yourself having in retirement.              savings goes straight to work for you.

10   MTAA SUPER ANNUAL REPORT 2001
stay ahead
 “It’s good to know that my
 membership of MTAA
 Super gives me more than
 just a super account. I can
 also get access to things
 like low-cost home loans
 and professional financial
 advice when I need them.”
 David Tonna,
 David Tonna,
 Service Technician,
 Service Technician,
 McGuinness Motors, ACT
 McGuinness Motors, ACT
 MEMBER SINCE 1991
 MEMBER SINCE 1991



As a member of MTAA Super, you           FIND OUT
can take advantage of low-cost home      MORE
or business loans, through Members       For more on Super
Equity (see STOP PRESS on back           Members Home
page). There are no account-keeping      Loans (awarded five
fees or hidden charges and the           stars by independent
interest rates are consistently ranked   mortgage assessment
                                         firm CANNEX), call
amongst the lowest in Australia. Plus    1800 650 999. To
the profits actually go back into your   find out about Super
Fund – what a pleasant change!           Business Loans
                                         (including
                                         commercial loans,
                                         lease and hire
                                         purchase), call
                                         1800 500 680.          WITH DAVID IS
                                                                (AT LEFT) DANIEL
                                                                BUTLER
                                                                                   MTAA SUPER ANNUAL REPORT 2001   11
       SERVICES




       We’re an industry on
     TIP       TAKING IT WITH YOU
            The days of one job lasting a lifetime are             ONE ACCOUNT           = LESS FEES + BIGGER
                                                                                                       SAVINGS
       well and truly gone. It’s essential today to                If you have more than one super account, chances are
       have a flexible, portable super fund that                   that you are losing money in multiple sets of fees and
                                                                   charges. There are some very good reasons to combine it
       keeps pace with you. So if you change jobs,                 all in your MTAA Super account.
       you can rest easy that your MTAA Super                           By rolling over all your super into your MTAA Super
                                                                   account, you will save quite a bit on fees and charges!
       account can move with you. Simply give your                 ‘Up to many tens of thousands of dollars over a working
       new employer your MTAA Super                                life, compared to a person in
                                                                                                      FIND OUT MORE
       membership number and you’re still with the                 an average master trust’,
                                                                   according to a recent study        To find out more about
       best fund in the business!                                  by Access Economics, one           how you can save on
                                                                                                                    all
                                                                   of Australia’s most-respected fees by rolling one,your
                                                                                                      accounts into      call
                                                                   economic commentators.
           THEN AND NOW
           The Motor Trades Association of Australia (MTAA)        THINK ABOUT IT
           was formed in 1988, and its own super fund,             MTAA Super exists only for the benefit of its members, so
           MTAA Super, began operations on 29 May 1989.            all net profits are returned to members. Compare this to
                                                                   any other fund you may be with – are they charging you a
                                                                   percentage of your total balance as a fee? Do they charge
               In 1988 there were 38,000 retail motor trade
                                                                   entry or exit fees? Are all their profits paid to members or
               outlets. A decade later, there were over 86,000.
                                                                   do they need to make a profit first? In addition, MTAA
               Turnover for 1988 was recorded as $37.8 billion     Super does not pay agents’ commissions, so more of your
               annually, compared to $88 billion in 1998/1999.     money goes straight to work for you.
                                                                       In fact, the report by
               MTAA Super began with just $6 million in funds
                                                                   Access Economics, says that SO DON’T GET
               under management. The Fund now has                                                     MAD AT THE
                                                                   an average member aged             EXTRA FEES,
               $1.3 billion in funds under management, more
                                                                   21, with an income of              GET DIALLING
               than 185,000 members and 13,500 employers.
                                                                   $35,000 and a current
               Already ranked as 6th amongst industry funds by     balance of $5,000 may be           To save on fees by
                                                                                                      combining your super
               membership, and experiencing annual compound        better off, over the course of accounts into one,
               growth of approximately 35 per cent, MTAA Super     their working life, to the         simply call
               is projected to have $2.26 billion in funds under   tune of $25,000 in saved
               management by 2005.                                 fees and charges alone if          – we’ll do the rest!
                                                                   they are with MTAA Super.

12     MTAA SUPER ANNUAL REPORT 2001
the move
 “Putting all your
 super together
 in one account
 is the wise
 thing to do,
 because then
 you know that
 it’s all in one
 spot. And
 because MTAA
 Super has such
 low fees, it
 saves money
 over the long
 term.”
 Todd Slattery,
 Todd Slattery,
 Apprentice Mechanic,
 Apprentice Mechanic,
 Portside Mitsubishi, SA
 Portside Mitsubishi, SA
 MEMBER SINCE 1997
 MEMBER SINCE 1997




                           MTAA SUPER ANNUAL REPORT 2001   13
       SERVICES




       Take control of your
                                                                                                                          with
     TAKE ADVANTAGE
                                  Everyone has different lifestyles and        GROWTH
                                  different approaches to managing
     OF MEMBER
                                  their money. MTAA Super recognises                                 INFRASTRUCTURE
     INVESTMENT
                                  this and offers three choices of
     CHOICE                                                                                                7.5%
                                  investment strategy to match
     1. CALL US ON                members’ needs, lifestyles, goals and
                                  investment styles.
                                                                                                                   AUSTRALIAN
                                      Once you have a minimum of                                  PROPERTY            SHARES
       for a copy of the          $1,000 in your MTAA Super                    DEVELOPMENT       17.5%
       Member Investment                                                            CAPITAL
                                                                                                                        32.5%
                                  account, you can take advantage of
       Choice booklet, which      Member Investment Choice.                            2.5%
       contains all the details       You may change your account                  ENHANCED      7.5%
       of the options             balance between investment choices                   CASH
       available to you.                                                                                       INTERNATIONAL
                                  regularly and even direct how your                                           SHARES
                                  future contributions are invested.                   CASH   2.5%
                                                                                                               30%
                                      Each choice has a different mix of
                                  investments designed to suit different
                                  risk/return profiles. There’s sure to be    Risk and return are linked to each other so when you
                                  one that suits you.                         choose an option at the higher risk end of the risk/return
                                      When making your choice,                spectrum, like MTAA Super’s Growth option, remember
                                  remember that super is a long term          that this is a long-term investment aiming for higher
                                  investment. For example, a higher-          returns on a five year rolling basis. The option’s
                                  risk option may bring lower returns         investments are more weighted to shares, property,
                                  in some years, but over the lifetime        infrastructure and other ‘growth’ asset classes.
     2. CHOOSE YOUR               of your super account, the returns
        PREFERRED                 are more likely to be greater than a
        OPTION – Growth,          lower risk option.
        Balanced or Secure
        (or a combination).
     3. RETURN YOUR                HOW INTEREST IS CREDITED TO ACCOUNTS
        COMPLETED
        APPLICATION                Members’ accounts are credited with interest        applicable). Members who left the Fund during
        FORM to MTAA               annually after having regard to the earning rates   the year or who transferred between the
        Super – easy.              (after expenses and tax) and in line with the       investment options were credited with interest
                                   Fund’s investment objectives, strategies and        up to the date of payment or transfer at the
                                   policies (including its reserving policy where      Fund’s interim rate for the relevant period.

14     MTAA SUPER ANNUAL REPORT 2001
super
Member Investment Choice
    BALANCED                                                     SECURE
                                           INFRASTRUCTURE                         INFRASTRUCTURE
 DEVELOPMENT                                                           AUSTRALIAN
      CAPITAL   1%         PROPERTY    6.5%                              SHARES           7.5%
                           17.5%
 INTERNATIONAL                                                                      10%
         FIXED                                                 INTERNATIONAL
     INTEREST      7.5%                AUSTRALIAN                       FIXED
   AUSTRALIAN                             SHARES                    INTEREST    7.5%
        FIXED     7.5%                         25%
     INTEREST                                                   AUSTRALIAN
                                                                     FIXED      7.5%
     ENHANCED       7.5%                                          INTEREST                           CASH
          CASH                 INTERNATIONAL                                                     67.5%
                       5%      SHARES
                  CASH         22.5%


   As its name suggests, the Balanced option aims to keep       Taking a low-risk approach to investment brings a more
   risk within acceptable limits by investing across a range    predictable return, which comes with the possibility of
   of different asset classes including shares, property,       lower returns over the longer term. However the MTAA
   infrastructure, fixed interest and cash. The Balanced        Super Secure option aims to provide positive returns in
   option aims to provide attractive returns on a three year    most years through investing predominantly in liquid,
   rolling average basis.                                       short-term and fixed interest money market securities.




                                                               FIND OUT MORE
 WHAT’S IN RESERVE?                                            For more information       Find out more about Member
 MTAA Super carries reserves in both the Growth and Balanced   on how your super          Investment Choice, call
                                                               is invested
 options to help meet member protection requirements and       GO TO
 also, if needed, to smooth out returns from year to year.
                                                                                          or visit
     The Secure option, due to its lower risk profile,           PAGE
 does not carry any reserves.                                    26-28                          www.mtaasuper.com.au


                                                                                                MTAA SUPER ANNUAL REPORT 2001   15
          SERVICES




     Your Member Statement explained


                                                    247/2974/912911

                                                    lll l l l lll l l llll l l l lll l l l llll ll l lll l l l lll l l l l l l
                                                    MR B AMBROSIO
     CHECK THAT YOUR DETAILS                        13 FRANKLIN ST
     ARE CORRECT                                    KINGSCLIFF NSW 2487
     It is very important that MTAA Super
     has your most current details so we
     can help you keep track of your
     retirement savings. If there is a
                                                         MR B AMBROSIO
     change call MTAA Super
                                                                                 912911
     on 1300 362 415.


     INTEREST CREDITED                                                                                                                                         YOUR ACCOUNT BALANCE
                                               $887.18                                     $19811.51
     This is the amount of interest credited                                                                                                                   This is the total sum of
     to your account this financial year.                                                                                                                      money that you have
     The interest credited is dependent on                                                                                                                     accumulated in your super
     the investment option you choose.                                                                  $19811.51
                                                                                                                                                               account at the end of the
     SEE THE ‘DEFINITION OF TERMS USED’                                                                 $0.00                                                  financial year.
     At the bottom of this side                                                                         $0.00

     of your statement.
     MEMBERS OF MTAA SUPER RECEIVE                                                                                                                             TOTAL AND PERMANENT
     AUTOMATIC DEATH COVER                                                                                                                                     DISABILITY INSURANCE
                                                                                        $100000.00                                $19811.51       $119811.51
     This figure represents the amount                                                                                                                         AND/OR INCOME
     that your Preferred Beneficiary/ies
                                                                                                $ Nil                             $19811.51       $19811.51    PROTECTION INSURANCE
                                                                                                $0.00                            Not applicable        $0.00
     may be eligible to receive in the                                                                                                                         As a member of MTAA Super
     event of your death.                                                                                                                                      you can also nominate to
                                                                                                                                                               take up Total and
                                                                                                                                                               Permanent Disability
                                                                                                                                                               insurance and/or Income
     YOUR PREFERRED BENEFICIARIES                                                                                                                              Protection insurance
     This is the person or persons to                                                                                                                          To find out more, call
                                               V. AMBROSIO, D. AMBROSIO
     whom you would like the Trustee of                                                                                                                        1300 362 415 for a copy of
     the Fund to consider paying your                                                                                                                          the MTAA Superannuation
     benefits if you die. Please let us                                                                                                                        Insurance Handbook or
     know if this detail has changed.                                                                                                                          download one from the net
                                                                                                                                                               at www.mtaasuper.com.au




16        MTAA SUPER ANNUAL REPORT 2001
                                                                                                       $19,811.51




                                                                                          $15,380.37



                                                                             $11,654.94




                                                                              1999          2000         2001


                                               Your superannuation is invested in the
                                               Balanced Plan, which credited 6.5% for
                                               the twelve months ending 30/6/01.




                                            TRANS        DESCRIPTION                                      PAYMENT PERIOD          WEEKS        PRESERVED        NON-PRESERVED      TOTAL
                                            DATE                                                                                  PAID    MEMBER    EMPLOYER   MEMBER   EMPLOYER
                                                                                                                                                                                              THE PERIOD FOR WHICH THE
THE DATES YOUR CONTRIBUTIONS                30/06/2000   Opening Balance                                                                            15380.37                       15380.37   CONTRIBUTION WAS MADE
WERE RECEIVED BY THE FUND                                                                                                                                                                     This shows over what period
                                            14/07/2000   BENTLEY MOTORS PTY LTD                           01/06/2000-28/06/2000     4                 232.00                         232.00
In normal circumstances your                21/08/2000   BENTLEY MOTORS PTY LTD                           29/06/2000-26/07/2000     4                 252.00                         252.00   your employer made
employer contributes to your account        15/09/2000   BENTLEY MOTORS PTY LTD                           27/07/2000-30/08/2000     5                 315.00                         315.00
                                                                                                                                                                                              contributions to your account.
                                            16/10/2000   Roll In – COLONIAL SUPER RETI                                                    1720.11                                   1720.11
balance monthly.                            17/10/2000   BENTLEY MOTORS PTY LTD                           31/08/2000-27/09/2000     4                 252.00                         252.00
                                            16/11/2000   BENTLEY MOTORS PTY LTD                           28/09/2000-25/10/2000     4                 252.00                         252.00
                                            18/12/2000   BENTLEY MOTORS PTY LTD                           26/10/2000-29/11/2000     5                 315.00                         315.00
                                            18/01/2001   BENTLEY MOTORS PTY LTD                           30/11/2000-27/12/2000     4                 252.00                         252.00
                                            13/02/2001   BENTLEY MOTORS PTY LTD                           28/12/2000-31/01/2001     5                 315.00                         315.00
                                            15/03/2001   BENTLEY MOTORS PTY LTD                           01/02/2001-28/02/2001     4                 252.00                         252.00
YOUR CONTRIBUTING EMPLOYER/S                                                                                                       __     _______   ________                       _______
                                                                                                                                   39     1720.11   17817.37
The name of the employer who has
made contributions on your behalf for
the specified period.
ADMINISTRATION CHARGES
THAT ARE DEDUCTED                                                                                                                                                                             15% GOVERNMENT TAX
MTAA Super has fees that are among                                                                                                                                                            DEDUCTED FROM
the lowest in the superannuation industry
                                            LESS         Administration Fees                                                                                                         -52.00   CONTRIBUTIONS
                                                         Federal Government Tax                                                                                                     -331.05
– just $1 a week for active members                      Insurance Premiums                                                                                                         -230.10   The Government
(see page 22 for more information).                                                                                                                                                           requires the payment of
                                            ADD          Interest Credited                                                                                                           887.18
                                                                                                                                                                                              this tax from your
                                                                                                                                                                                              account (see page 24
                                            30/06/2001   Retirement Account Balance                                                                                                19811.51   for more info).




                                                                                                                                                                            MTAA SUPER ANNUAL REPORT 2001               17
     SERVICES




You’re never too young
                      to think about retirement
     GIVE YOURSELF A SAFE AND
     COMFORTABLE RIDE HOME                                                              Get a regular
                                                                                        paypacket
     No matter what age you are, it is vital you take a moment to think
     about how much income you will need in retirement and work out
                                                                                        when you retire
                                                                                        Many people like
     if your current rate of contribution will meet your needs.                         the security of a
         You can rest assured that as a           Plus, with the low-fee home and       regular pay packet,
     member of MTAA Super, you are with           business loans you have access to     especially when
     a reliable, dependable fund. Your            through MTAA Super, you can benefit   they retire. It
     MTAA Super savings will not be eroded        by thousands of dollars throughout    certainly makes it
     by agents’ fees or excessive charges.        your lifetime.                        easier to budget.
                                                                                        With MTAA Super,
                                                                                        you can access the
       HOW MUCH DO YOU NEED?                              SUPER                         IRIS Allocated
                                                          CALCULATOR                    Pension which
       Have you ever sat down and worked out
       what it will cost you on a day-to-day basis,       To test drive the SUPER       allows you to receive your lump
                                                          CALCULATOR and see if         sum as a regular income – like
       once you retire? You will need to think about      your current contributions
       budget items such as groceries, utility bills,     will meet your retirement     you are still receiving a salary.
       entertainment, clothing, even holidays.            needs, log on to                  Just like MTAA Super, the
          Many experts believe you need to                    www.mtaasuper.com.au
                                                              www.mtaasuper.com.au      IRIS Allocated Pension does not
       contribute at least 15% (a combination of                                        attract agent’s fees, commissions
                                                          or call                       or entry/exit fees and it has a
       your contribution and your employer’s
       contribution) of your income during your                                         history of strong investment
       working life, to live comfortably in retirement.                                 performance.

                                                                                         FIND OUT MORE
       HOW MUCH WILL YOU HAVE
                                                                                         For more information
       AT YOUR CURRENT RATE OF CONTRIBUTION?                                             about accessing IRIS
       If you know how much you need in retirement, you can access MTAA                  Allocated Pensions, call
       Super’s SUPER CALCULATOR to see if your current rate of contribution
       will meet your needs.


18   MTAA SUPER ANNUAL REPORT 2001
                                        “I’d like to learn more
                                        about how super works
                                        and how to make the most
DID YOU KNOW?                           of it. Because it’s my
RETIREMENT                              money—for the future.”
FACTS                                   Adyn Lee, Apprentice Mechanic,
                                        Adyn Lee, Apprentice Mechanic,
                                        Northam Toyota, WA
                                        Northam Toyota, WA
                                        MEMBER SINCE 2001
                                        MEMBER SINCE 2001
 1     A girl born in 1901 could
       expect to live 59 years and a
 boy, 55. Nowadays they can expect
 to have a lot more fun after work –
 the life expectancy for women is
 now 86 years, and men 81 years.

      For someone on average weekly
 2    earnings, a level of 9% Super-
 annuation Guarantee payments will
 provide, after 30 years, about
 $19,000 per year income –
 including a part-age pension.

      Around eight out of 10 people
 3    surveyed by the Association
 of Superannuation Funds (ASFA)
 in May 2001 said that they
 would personally need more than
 $20,000 per year to live
 comfortably in retirement.

       Many financial experts suggest
 4     people will need between
 60 and 80 per cent of their pre-
 retirement income to maintain
 their lifestyle in retirement.

      The single age pension
 5    is currently $10,452
 per year.

                                               MTAA SUPER ANNUAL REPORT 2001   19
        SERVICES




       Loads of extras as sta
                            for employers, members
        CUSTOMER SERVICE                 WHO ARE YOU GOING TO CALL?
        AND BENEFITS THAT SET                                                                     MTAA Super offers its
        MTAA SUPER APART                                                                          members a dedicated team of
        Your Fund is rated as one of                                                              customer service staff who can
        the best of Australia’s                                                                   answer all your questions about
        industry superannuation                                                                   your personal super savings.
        funds because of the extra                                                                The call centre staff can also
        benefits you can access as                                                                assist you with claims,
        part of your membership. Low                                                              rollovers, low-cost home loans,
        fees, competitive returns and                                                             life and disability insurance for
        no hidden fees are only the                                                               you and your family and advise
        start. At the heart of these                                                              you on how to access our
        benefits is MTAA Super’s        For any questions about your
                                        For any questions about your                              financial planning services
        commitment to providing the     Super Fund simply call the
                                        Super Fund simply call the                                such as the FREE SUPER
        best possible service for       MTAA Super Helpline staff on
                                        MTAA Super Helpline staff on                              TORQUE seminars.
        members and employers.

        MTAA MEMBERS CAN                 HIT THE SUPER HIGHWAY AND GET THE NEWS ONLINE
        ENJOY BENEFITS SUCH AS:
                                         More and more members are discovering the convenience of using the Internet to quickly
     ➤ Low-cost home and
                                         access information about their MTAA Super Fund, at a time that suits them.
       business loans
                                             MTAA Super’s useful website allows you to:
       – SEE PAGE 10                     
                                         s access information about low-cost            ADD TO YOUR FAVOURITES
     ➤ Affordable insurance
                                            insurance and home loans;
       – SEE PAGE 8                                                                     You can visit the Fund website whenever
                                         
                                         s calculate how much super you’ll have in      it suits you, 24 hours a day, seven days
     ➤ A portable super account –
                                            retirement;                                 a week. Add it to your ‘Favourites’ list
       it stays with you when you                                                      (or make it your Home Page) today:
                                         s get answers to Frequently Asked
       move jobs
                                            Questions;                                       www.mtaasuper.com.au
       – SEE PAGE 12                     
                                         s find the latest news;
     ➤ Low-cost financial planning       
                                         s get details of investment options;
       – SEE PAGE 10                     
                                         s download forms to join MTAA Super,
     ➤ Free seminars
                                            rollover from another fund, or make
       – SEE PAGE 10
                                            spouse contributions; and
     ➤ SuperSite and SuperPhone          
                                         s read and download recent publications
       – SEE PAGE 5
                                            (like our Annual Reports).

20      MTAA SUPER ANNUAL REPORT 2001
ndard
and their families
 PAYING SUPER CONTRIBUTIONS
 TO SUIT YOUR BUSINESS                                                                            MANAGING SUPER                  MTAA SUPER
                                                                                                                                  BUSINESS
 MTAA Super has recently introduced two new payment options to make
                                                                                                  FOR YOUR                        DEVELOPMENT

 it even easier for employers to meet their super contribution obligations.                       BUSINESS IS                     MANAGERS (FROM
                                                                                                                                  LEFT) CRAIG
                                                                                                  NOW EASIER                      WALKER, ANDREW
 1. POSTBILLPAYTM                                               2. BPAY                                                           GLEDHILL, GRAHAM
 You can now use POSTBILLPAYTM to make                          BPay is fast becoming the         MTAA Super’s commitment         MILLAR, DIANNE
                                                                                                                                  CHITTY, RICHARD
 fast, flexible and secure super contribution                   preferred method of               to delivering the highest
                                                                                                                                  STUTTARD, PETER
 payments via our SUPERSITETM option at                         making payments easily,           standard of service for         JONES, SCOTT
 www.mtaasuper.com.au, in person or over                        securely and at a time that       employers was the driving       HARRIS AND (INSET)
 the phone:                                                     suits you. There are over         force behind its recently-      DIEDRE BELL.
 ➤ IN PERSON – simply take your                                 150 financial institutions        increased number of
    SUPERSITETM remittance advice and                           including banks, credit           Customer Service Advisors
    payment to your local Australia Post                        unions and building               and appointment of eight
    branch and pay by cash, cheque or                           societies that offer BPay.        Business Development
    debit card. You can pay multiple bills                      Once you have submitted           Managers around Australia.
    with just one transaction and save on                       your Contribution Advice              This expanded team is
    fees. There is no charge to your                            on SUPERSITETM, stay              dedicated to assisting
    business for this service and you will                      online and go to your own         employers manage super
    receive a paper receipt as a record of                      bank’s Internet banking           administration for employees,
    the transaction.                                            service or use their phone        navigate the complex subject
 ➤ BY PHONE – for the cost of a local                           banking service to make a         of superannuation, take
    call, you can phone 13 18 16 to                             payment from your                 advantage of benefits such
    register to make your super contribution                    nominated account,                as low-cost
    payments by debit card. Again, there is                     excluding credit cards.           business
    no charge for using this service. You                       Please check with your            loans and          To contact your local Customer
    can even pay a number of different                          bank or financial                 understand         Service Adviser or Business
                                                                                                                     Development Manager about
    bills with the one phone call. You will                     institutions before using         the impact         super administration,
    receive a receipt number as                                 BPay as they may charge           of changes         e-commerce services, low-cost
    confirmation of each individual bill                        a fee for these                   to super as        business loans and workplace
                                                                                                                     presentations for employees, call
    processed during the call.                                  transactions.                     they apply
 *POSTBILLPAY is a trademark of the Australian Postal Corporation. SUPERSITETM and SUPERPHONETM
                                                                                                  to the motor
 are trademarks of JMIFA Super Partners.                                                          trade.

                                                                                                                  MTAA SUPER ANNUAL REPORT 2001     21
     YOUR SUPER




     Returning the profits
➔    LOW ADMINISTRATION FEES                                                    Protecting small




                                                                       { }
     MTAA Super members pay fees that are among the lowest of
     any super fund in Australia.
                                                                                account balances
         All profits from MTAA Super’s investments (after taxes           If your account balance is less than $1000, MTAA
     and fund charges are taken out) are returned to members.            Super protects this money from being eaten away by
     MTAA Super pays no commissions to agents or dividends to            administration fees. Put simply, if the fees are more
     shareholders and has no entry, exit or asset fees.                 than the interest credited to your account in any given
         If an employer contribution is made for you in any week         year, MTAA Super will credit the difference by which
     you only pay $1 per week. If an employer contribution is not       fees exceed the interest earned, back to your account.
     made for you in any week you pay 83 cents per week. If you                This policy also applies to the benefits of ‘lost
     are a member of the MTAA Personal Superannuation Fund,              members’. This account balance protection does not
     you pay $1.25 per week. This fee covers the costs of              include deductions for taxation, insurance premiums or
     managing your account and is one of the most competitive          negative investment returns. Spouse-only accounts also
     rates for all personal superannuation funds in Australia.                       do not receive this protection.
         MTAA Personal Super members also benefit directly from
     not having commissions, entry, exit or asset fees deducted
     from their accounts.                                              LOST AND UNCLAIMED BENEFITS
                                                                       IF YOU MOVE, OR ANY OTHER OF YOUR
     NON-ADMINISTRATION CHARGES The administration fees
     you pay do not include deductions for insurance premiums,         PERSONAL DETAILS CHANGE, YOU MUST INFORM
     the Government’s compulsory Superannuation Contributions          MTAA SUPER. s If the Fund loses contact with you at
     Tax (15%) or Superannuation Surcharge Tax (up to an               any stage, then your account may be deemed a lost
     additional 15% is applicable for high income earners).            member’s account and transferred to the Fund’s eligible
                                                                       rollover fund — the Australian Preservation Fund. s
                       The GST is not imposed on the interest paid     The Government requires all superannuation funds in
     The GST           to members’ accounts or administration          Australia to transfer members’ unclaimed benefits to a
     & Super           fees. It is also not imposed on benefits that
                       are paid to members. If you are about to
                                                                       state or territory Government unclaimed monies fund,
                                                                       or to the Tax Office, in the following circumstances: s
     retire and take a lump sum benefit, this does not attract the     where a member has reached the Social Security
     GST. The GST is also not applied to employer contributions,
                                                                       pension age (which is currently 65 for males and 60 for
     including those made by salary sacrifice and member
     contributions. MTAA Super does incur the GST on some of the       females); s a lump sum is immediately payable;
     goods and services that we purchase. Where MTAA Super             s where the Fund has not received an amount in
     does incur a GST cost, it has chosen to absorb these costs.       respect of a member for at least two years; and s after
     MTAA Super will keep members and employers informed               making reasonable efforts, the Fund is unable to ensure
     about further implications of the GST and any changes to          a member has received the benefit.
     our GST policy.
22   MTAA SUPER ANNUAL REPORT 2001
to you
 “I changed over to
 MTAA Super because of
 the lower fees and the
 better service that they
 provided. It’s great to be
 able to contact local
 people when you need
 help and not to have to
 refer to the Eastern
 States. And everyone
 has been so helpful,
 honest and up-front.”
 Joanne Lee,
 Business Manager,
 Northam Toyota, WA
 MEMBER SINCE 2001

  REMEMBER
  Let MTAA Super know of
  any change of address or
  other personal details, call

  or visit
      www.mtaasuper.com.au
      www.mtaasuper.com.au


                                 MTAA SUPER ANNUAL REPORT 2001   23
     YOUR SUPER




     What you should know about your super


     Q                                                                                         Q
                                                                          AMANDA
                                                                          COUGHRAN,                 WHAT IS THE
           WHEN ARE SUPER                                                 Parts Interpreter,
                                                                          Wippell’s Autos,          SUPERANNUATION
           BENEFITS PAYABLE?
                                                                          Queensland.               SURCHARGE TAX?
                                                              MEMBER SINCE 2000

     There are different circumstances that determine when                                                           MARK STEVEN,
                                                                                                                     Salesman,
     you can access your superannuation benefits.                                                                    Morgan’s Motors,
        When you retire permanently from            Your annual benefit statement will tell                          Northern Territory.
     the workforce on or after your                 you which part of your benefit is
                                                                                                         MEMBER SINCE 1995
     ‘preservation age’. At this time you will      preserved.
     be paid your total account balance (less
     charges and tax, plus interest). Your             Upon request at or after age 65         An additional tax of up to
     preservation age is linked to your date        (even if you have not retired). At that    15% which is levied by the
     of birth, see below.                           time your employer contributions must
                                                                                               Government on the
                                                    have ceased in order that the total
      Date                           Preservation   account balance in your account may        superannuation
      of birth                       age            then be paid to you.                       contributions of people
      Before 1 July 1960             55 years           To continue to maintain your           whose adjusted taxable
      1 July 1960 to 30 June 1961 56 years          account past age 65 you must be
      1 July 1961 to 30 June 1962 57 years          working a minimum of 10 hours each         income is more than
      1 July 1962 to 30 June 1963 58 years          week. If you are aged 70 or older you      $81,493 per annum (for the
      1 July 1963 to 30 June 1964 59 years          must be working a minimum of               2000/2001 financial year).
      After 30 June 1964             60 years       30 hours each week to maintain your
                                                    account.                                   The maximum additional tax of 15%
                                                                                               applies on taxable contributions for
        On leaving your employer within the            On death. Your dependents or legal      members where total adjusted taxable
     retail motor trades prior to age 55.           personal representative will be paid       income (including employer and salary
     Government legislation requires that all       your total account balance plus the        sacrifice superannuation contributions
     Award or Superannuation Guarantee              insured benefit (if any).                  and certain fringe benefits) exceeds
     contributions remain in a                                                                 $81,493 for the 2000/2001 financial
     superannuation fund until a person                Upon becoming totally and               year ($85,242 for 2001/2002).
     reaches his or her preservation age.           permanently disabled. If you satisfy the       Where this surcharge is applicable, it
         However, non-preserved benefits            TPD condition you will be entitled to      is deducted from affected members’
     accumulated before 30 June 1999                be paid your total account balance plus    accounts and paid to the Australian Tax
     remain unpreserved and may still be            the insured benefit (if any).              Office (ATO). Visit the ATO website at
     accessible under certain circumstances.                                                   www.ato.gov.au for more detail.

24   MTAA SUPER ANNUAL REPORT 2001
fund


 Q                                                                                       Q
                                                                   RICKY YIP,
                                                                   Panelbeater,
       CAN I GET AN EARLY                                          Portside                   WHAT HAPPENS IF I HAVE
       RELEASE OF MY SUPER?                                        Mitsubishi,                A COMPLAINT?
                                                                   South Australia.
                                                        MEMBER SINCE 1991

 Only in limited circumstances such as the following.                                                             TRISHA HUNTER,
                                                                                                                  Assistant Accountant,
 Severe financial hardship. Under current       Compassionate grounds. If you meet                                Portside Mitsubishi,
 laws a person may qualify to receive a         certain prescribed criteria your total                            South Australia.
 portion of his or her superannuation           or partial account balance may be                     MEMBER SINCE 2000
 benefit before reaching preservation age,      released to you on compassionate
 if the person is suffering severe financial    grounds before you retire. Note
 hardship. The member must have been            however that the Trustee has no
                                                                                         MTAA Super is committed to
 on a Commonwealth Government                   discretion to release funds if the       providing its members with great
 income support payment for a                   Australian Prudential Regulation         service and any complaints will
 continuous period of 26 weeks and meet         Authority (APRA) does not also
                                                                                         be dealt with as soon as possible.
 certain other prescribed criteria to qualify   consent to this. If APRA approves the
 for such a release. As well, a member          application the Fund will process the    However, if you are unhappy with the way any
 must firstly satisfy the Fund’s Trustees       claim. For further information on the    enquiry or complaint you have has been
 that they are unable to meet reasonable        early release of funds please contact    handled you should write to MTAA Super
 and immediate living expenses.                 APRA on 13 10 60.                        Complaints Officer, Locked Bag 20, Grosvenor
                                                                                         Place NSW 1216. All complaints to the Fund




 Q
                                                                   BRIAN BERNIER,        must be dealt with within 90 days.
                                                                   Workshop                  If you are not satisfied that your complaint
       WHY SHOULD I PROVIDE                                        Foreman,              has been satisfactorily handled, you can contact
       MY TAX FILE NUMBER                                          Wippell’s Autos,      the Superannuation Complaints Tribunal (SCT)
       (TFN) TO MTAA SUPER?                                        Queensland.           – an independent body established by the
                                                        MEMBER SINCE 2000                Federal Government. The Tribunal will consider
                                                                                         the complaint, providing it falls within its
 Providing your TFN to us means you avoid paying                                         jurisdiction. However you first must use MTAA
                                                                                         Super’s complaints resolution procedure before
 additional, unnecessary tax.                                                            approaching the SCT. The address for
 MTAA Super is required to seek and pass on members’ TFNs to the Australian              correspondence to the SCT is: Superannuation
 Taxation Office. While it is not compulsory to provide your TFN to MTAA Super,          Complaints Tribunal, Locked Bag 3060, GPO
 if you do not then tax must be deducted from any benefit paid to you at the highest     Melbourne, VIC 3001.
 marginal rate, including the Medicare Levy (currently 48.5%). For more                      Or telephone 13 14 34 from anywhere in
 information about TFNs, call us on 1300 362 415.                                        Australia for the cost of a local call.

                                                                                                     MTAA SUPER ANNUAL REPORT 2001    25
     YOUR INVESTMENTS




     Where your money is invested
     MTAA Super seeks to invest its members’ funds                   INVESTMENT PERFORMANCE
                                                                     For the 2000-01 financial                       well above the rates paid by
     to provide them with a financially secure and                   year, MTAA Super declared                       most bank accounts and the
     relaxing lifestyle in retirement.                               the following net crediting                     underlying rate of inflation.
                                                                     rates (after fees and tax) on                       The table below shows
     OVERALL INVESTMENT              each of the strategic asset     members’ accounts:                              the Fund’s earning and
     OBJECTIVE                       allocations for each asset        MTAA GROWTH   5.50%                           crediting rates since
     MTAA Super seeks to             class. The Trustee can alter      MTAA BALANCED 6.50%                           1 January 1992, and the
     maximise the investment         these from time to time in        MTAA SECURE   4.95%                           rates of inflation (Consumer
     return to members over the      order to maximise the rate      These returns are superior to                   Price Index) for these periods
     long term while maintaining     credited to members in          those declared by many com-                     together with the three and
     acceptable levels of risk and   excess of the Fund’s            parable or like funds and are                   five-year moving averages.
     actively managing short-        performance targets.
     term volatility.
                                                                          FUND EARNING AND CREDITING RATESM
         The primary investment      MEMBER INVESTMENT
     objective adopted by the        CHOICE — INVESTMENT                                    EARNED  CREDITING                            REAL CREDITING
                                                                       YEAR                  RATE RATE MEMBERS INFLATION                 RATE OF RETURN
     Trustee is to provide           OBJECTIVES                                              % PA     % PA       % PA                    AFTER TAX % PA
     members with consistent         MTAA Super offers                 BALANCED
     investment returns which        different investment              2000/01                5.47            6.50           3.20#               3.30
     are at least comparable to,     strategies and objectives for     1999/00                8.29           11.25           3.19                8.06
     and preferably higher than,     the three Member                  1998/99               10.13           10.50           1.07                9.43
                                                                       1997/98               10.43           10.00           0.67                9.33
     those of like funds on a        Investment Choice options         1996/97               19.76           18.75           0.33               18.42
     rolling three to five year      – MTAA Growth, MTAA               1995/96*               8.06            5.50           2.21                3.29
     average basis.                  Balanced and MTAA                 1994/95*               3.45            7.50           5.05                2.45
         In achieving its            Secure.                           1994                  -2.90            0.00           2.55               -2.55
                                                                       1993                  11.20           11.00           1.95                9.05
     objective, the MTAA Super           The objectives of each
                                                                       1992                   6.15            6.25           0.28                5.97
     Fund’s Trustee sets long-       option are described in the       3 YR AVERAGE           7.95            9.40           2.48                6.90
     term investment targets for     section starting on page 14       5 YR AVERAGE          10.71           11.33           1.68                9.60
     each of the Fund’s              of this Annual Report. The        GROWTH
     investment options and sets     Trustee engages                   2000/01                4.32            5.50           3.20                2.23
                                                                       1999/00               12.22           14.00           3.19               10.48
     the strategic (long-term)       professional asset
                                                                       1998/99               13.63           13.70           1.07               12.50
     asset allocation ranges in      consultants and investment        3 YR AVERAGE           9.98           11.00           2.48                8.31
     order to achieve the Fund’s     managers who specialise in        SECURE
     targets. The Trustee, with      given asset classes or            2000/01                4.95            4.95           3.20                1.70
     the assistance of its           markets to provide MTAA           1999/00                6.67            6.57           3.19                3.28
                                                                       1998/99                0.58            5.20           1.07                4.09
     professional asset              Super with investment             3 YR AVERAGE           4.03            5.57           2.48                3.01
     consultants, also sets the      advice and to assist the        # The adjusted inflation figure for 2000/01 takes out the one-off CPI 'spike' created
     tactical asset allocation       Trustee in achieving its          by the introduction of the GST. The unadjusted inflation rate (all capital cities) was 6%.
                                                                     * These year's figures have been adjusted to reflect transition from calender to
     (short-term) ranges within      investment objectives.            financial year results.

26   MTAA SUPER ANNUAL REPORT 2001
INVESTMENT RESERVING POLICY                                                      BENEFITS PAID & PAYABLE BY BENEFIT TYPEM
MTAA Super uses reserves                    performing well and earning
                                                                                                                          30 JUNE 2001     30 JUNE 2000
to help smooth out negative                 good returns, a proportion         Death/ Disability                            $1,439,669       $1,089,859
or volatile returns over the                of members’ funds are set          Hardship                                     $2,676,569       $2,797,425
mid to long-term period.                    aside in the Fund’s Reserve        Resignation benefits/transfers/rollovers    $69,969,835      $55,114,466
This is a feature of the                    Account to provide a buffer        Retirement                                  $10,559,682       $9,232,083
                                                                               Reinsurance                                  $5,903,900       $4,186,390
MTAA Balanced and                           for years when investment
                                                                               TOTAL BENEFITS                              $90,549,655      $72,420,223
Growth options only.                        market performance is
    The Fund’s level of                     poorer. In years of lower         PORTFOLIO INSURANCE                             The Fund authorises its
reserves are determined                     investment returns, the Fund      A range of strategies are                   investment managers to use
having regard for its                       can draw on the reserves to       employed by MTAA Super                      derivatives, provided that these
investment objectives,                      top up the interest credited      and its appointed investment                are not used to gear the
strategies, asset allocations               to members’ accounts. The         managers to maximise the                    portfolio, are always backed
and the general state of                    MTAA Secure option does           returns from certain asset                  by physical assets such as
investment markets and                      not carry any reserves.           classes while also seeking to               shares or cash and the value of
other economic conditions                       The reserves movement         minimise the risk and                       any derivatives are reported at
—both experienced and                       over the last three years as a    volatility sometimes                        market value.
anticipated.                                percentage of members’            experienced with these types                    Also, the Fund and its
    Generally, when the                     funds, is shown in the table      of investments.                             investment managers maintain
Fund’s investments are                      below.                                This includes using                     strict risk management policies
                                                                              derivatives for portfolio                   which are audited annually as
    RESERVESM                                                                 insurance to maximise fund                  required by the Australian
 Year ended          Members’                   Reserves     % of Members’    earnings and reduce the                     Prudential Regulation
  30 June            Balances                   Balances         funds        chance of such returns falling              Authority.
  2001           $1,218.4 million              $17.2 million     1.41%        below a given target point.                     MTAA Super maintains a
  2000           $1,034.8 million              $19.9 million     1.92%
  1999            $834.3 million               $31.5 million     3.79%
                                                                                  Broadly, derivatives are                Risk Management Statement
  1998            $664.6 million               $22.5 million     3.39%        financial contracts which are               which is reviewed regularly by
  1997            $523.8 million               $20.4 million     3.89%        ‘derived’ from the price of a               the Trustee. This policy
                                                                              particular asset, such as                   provides a detailed guide as to
    SUMMARY OF ASSET ALLOCATIONM                                              shares, bonds and the like.                 the Fund’s management of
                                                                              Typical derivatives include                 derivatives by it and its
                                          30 JUNE 2001       30 JUNE 2000
                                       $ MILLION %        $ MILLION %         options and futures contracts               investment managers.
 Cash/ Short-term deposits                89.8     7.13     201.5     18.65   which are traded on a
 Australian Fixed Interest                93.3     7.41      51.3      4.75   number of reputable and                     WHAT IS THE FUND’S
 International Fixed Interest             83.1     6.60      83.3      7.71   regulated futures exchanges                 MONEY INVESTED IN?
 Australian Equity (direct & listed)     329.2    26.20     318.0     29.43
 Infrastructure (equity & debt)          194.6    15.46      60.8      5.63
                                                                              across the world, interest                  The table over the page shows
 International Equity                    259.3    20.60     158.1     14.63   rate and currency swap                      the Fund’s investments by asset
 Australian Property                     211.5    16.60     207.4     19.20   contracts and combinations                  allocation at 30 June 2001 and
 TOTAL                                 1,258.2   100.00   1,080.4    100.00   of these.                                   compares this to 2000.

                                                                                                                            MTAA SUPER ANNUAL REPORT 2001    27
         INVESTMENTSM
                                                 30 JUNE 2001 30 JUNE 2000                     The following information has been taken from the latest
      SHORT TERM DEPOSITS                                                                      accounts of MTAA Super for the year ended 30 June 2001.
      Cash at Account                              $20,971,068      $17,365,154                The annual audit is expected to be completed by late
      AMP Super (No.2)                             $47,005,596     $115,353,925                October 2001 and the accounts are not expected to be
      Super Member Home Loans                       $4,312,212       $4,310,578
      Super Business Loans                          $9,140,222       $8,438,888                qualified in any way by the Fund’s Auditor.
      MTA House Pty Ltd                             $8,347,314       $8,895,855                   If you wish to obtain a copy of the audited accounts for
                                       7.1%        $89,776,412     $154,364,400 14.3%          2000/2001, or a copy of the Auditor’s Report for
      FIXED INTEREST                                                                           2000/2001, contact MTAA Super on 1300 362 415.
      Macquarie Australian Fixed Interest      $73,343,008    $51,345,960
      Macquarie Overseas Fixed Interest        $83,082,682    $83,336,085                         MTAA SUPERANNNUATION FUND
      Loy Yang CPI Bond Notes                  $19,935,860             —
                                                                                                    STATEMENT OF FINANCIAL POSITIONM
                                      14.0%   $176,361,550 $134,682,045 12.5%
      AUSTRALIAN EQUITY                                                                          AS AT 30 JUNE 2001                     30 JUNE 2001           30 JUNE 2000
      Allen & Buckeridge                        $5,129,840             —                         Investments                           $1,258,227,271         $1,080,423,301
      AMP Shares                                    $1,756     $7,198,027                        Current assets                           $34,896,125            $27,913,108
      AMP Quant                                         $0       $123,596                        TOTAL ASSETS                          $1,293,123,396         $1,108,336,409
      AMP Enhanced Indexed Fund                         $0        $11,661                        CURRENT LIABILITIES
      Macquarie Separately Managed            $314,432,735 $294,679,978                          Other liabilities                         $7,016,621            $4,140,780
      Macquarie Alternative Investment Trust    $3,799,557     $4,240,358                        Income tax payable                       $31,660,615           $26,013,649
      Macquarie Technology Fund                 $2,970,372     $4,123,493                        DEFERRED LIABILITIES
      Rothschild E Fund                           $465,065             —                         Provision for future income tax          $18,909,371            $23,429,336
      Development Australia Fund II             $1,254,119       $556,408                        TOTAL LIABILITIES                        $57,586,607            $53,583,765
      Industry Fund Services*                   $1,167,468       $996,468                        NET ASSETS                            $1,235,536,789         $1,054,752,644
                                      26.2%   $329,220,912 $311,929,989 28.9%                    Represented by:
      INTERNATIONAL EQUITY                                                                       LIABILITY FOR ACCRUED BENEFITS
      AMP International Share Fund                      $0    $28,587,584                        Members’ balances                     $1,218,371,429         $1,034,806,927
      GMO Australia                                     $0    $26,466,136                        Reserves                                 $17,165,360            $19,945,717
      Lazard Freres                                $28,307    $76,153,199                        LIABILITY FOR ACCRUED BENEFITS        $1,235,536,789         $1,054,752,644
      Macquarie/ Alliance Separately Managed  $232,686,412             —
      Zurich Scudder                           $26,540,985    $26,847,647                         MTAA SUPERANNNUATION FUND
                                      20.6%   $259,255,704 $158,054,566 14.6%                       OPERATING STATEMENTM
      PROPERTY
      Directly Managed Property Portfolio !   $157,132,645 $139,045,906                          AS AT 30 JUNE 2001                     30 JUNE 2001           30 JUNE 2000
      Knight Frank                             $54,366,767    $68,372,801                        INVESTMENT INCOME                       $64,187,686            $91,179,395
                                      16.6%   $211,499,412 $207,418,707 19.2%                    CONTRIBUTIONS RECEIVED
      INFRASTRUCTURE                                                                             Employer                               $203,011,952           $172,494,979
      AMP Infrastructure Debt Fund             $13,947,934    $16,452,119                        Member                                  $10,400,599             $7,909,409
      AMP Infrastructure Equity Fund           $10,021,197    $10,750,216                        TRANSFERS FROM OTHER FUNDS              $36,461,830            $32,241,224
      AMP Australian Energy No.2 Trust         $17,118,978    $15,018,016                        REINSURANCE RECEIVED                     $5,903,900             $4,186,390
      Nextgen Networks                         $10,095,477             —                         OTHER INCOME                             $1,276,431             $3,154,418
      Macquarie Bank HYIDT                     $30,926,362    $30,644,400                        TOTAL REVENUE                          $321,242,398           $311,165,815
      Macquarie Global Infrastructure Fund      $6,675,949             —                         LESS:
      Macquarie Infrastructure Group                $3,800     $9,471,043                        Insurance costs                          $7,664,286             $6,831,769
      Directly Managed#                       $105,836,201    $31,637,800                        Administration costs                    $11,034,101             $8,356,811
                                      15.5%   $194,625,898 $113,973,594 10.5%                    Benefits                                $90,549,655            $72,420,223
      TOTAL INVESTMENTS BY                                                                       Government taxes                        $31,861,225            $33,341,375
      INVESTMENT MANAGER             100.0% $1,258,227,271 $1,080,423,301 100.0%                 BENEFITS ACCRUED AFTER TAX             $180,133,131           $190,215,637
     * Includes the Fund’s interests in the Industry Fund Banking Trust and Industry Fund Administration Trust.
     ! Includes the Fund’s direct investment in the R.G. Casey Building; 55 Currie Street, Adelaide; 85 Waterloo Road, North Ryde, NSW; AGSO Building, ACT;
       and the Flagstone/Spring Mountain Estates, QLD.
     # Includes the Fund’s direct investments in Adelaide Airport Ltd, Brisbane Airport Ltd, Airport Motorway Group and Mildura Base Hospital.

28   MTAA SUPER ANNUAL REPORT 2001
         YOUR FUND




Who looks after your money?
DIRECTORS OF MTAA SUPER 2000/2001

     Graeme Tompkins              Garry Prendiville              John Rickus                    Colin Heavyside                              Ian Jones
     EMPLOYER                     EMPLOYER                      INDEPENDENT                      EMPLOYER REPRESENTATIVE                                  MEMBER
REPRESENTATIVE                REPRESENTATIVE                CHAIRMAN (appointed             DIRECTOR (appointed 8 December 1999)                          REPRESENTATIVE
DIRECTOR (appointed           DIRECTOR (appointed           as a director 28 July 1995;     Proprietor, Ampol Service Station, Norwood,                   DIRECTOR
3 December 1997)              25 February 1997)             appointed as Independent        S.A.; President, Motor Trades Association of                  – Union nominee
Managing Director and         Director, Prendiville Group   Chairman 26 November            South Australia; Director, Heavyside                          (appointed
Dealer Principal, Ryde        of Companies (truck stops,    1996) President AADA 1989-      Investments Pty Ltd; Retail Motor Trading                     8 December
Toyota, West Ryde, NSW        wine, manufacturing,          90; President MTAA              Co Pty Ltd; VASCA Ltd; Motor Trades              1998). Federal Secretary,
1974-2000; President          hospitality, oil/gas,         1990-93; current Chairman,      Association of Australia Ltd; MTAA House Pty     Australia Manufacturing
AADA 1994-95;                 property); President,         Motor Trades Electoral Action   Ltd and MTA Group Training Scheme Inc.           Workers Union – Vehicle
President MTA NSW             Motor Trades Association      Committee; past Chairman,       Immediate past Chairman of the Australian        Division; Chairperson,
1991-93; Chairman,            of Western Australia;         National Mazda Dealer           Service Station and Convenience Store            Federation of Vehicle Industry
Federal Industrial            Director, Motor Trades        Council; President, Norwood     Association; South Australian delegate for the   Unions; Assistant National
Council of the Retail         Association of Australia      Football Club,                  Federal Industry Council; past Chairman of       Secretary, Australia
Motor Industry 1989-91        Limited.                      Adelaide, South Australia.      the AMPOL Franchise Council.                     Manufacturing Workers Union;
and 1994-95;                                                                                                                                          Director, Automotive
Chairman, MTA                                                                                                                                         Training Australia.
NSW Industrial                                                                                                                                             David Smith
Relations and                                                                                                                                              ALTERNATE
Training                                                                                                                                              DIRECTOR TO
Committee                                                                                                                                             MR IAN JONES,
1988-97;                                                                                                                                              Assistant National
Past President,                                                                                                                                       Secretary Australian
Rotary Club of                                                                                                                                        Manufacturing
St. Ives, NSW;                                                                                                                                        Workers Union –
Paul Harris                                                                                                                                           Vehicle Division
Fellow.


                                                                                                                                                       Geoff McGuinness
Alix Sachinidis                                                                                                                                         MEMBER
                                                                                                                                                   REPRESENTATIVE
                                                                                                                                                   DIRECTOR (appointed
                                                                                                                                                   3 December 1997)
                                                                                                                                                   Director, McGuinness
                                                                                                                                                   Motors Pty Ltd;
                                                                                                                                                   Director, Stock Jeans
MEMBER                                                                                                                                             and Co Pty Ltd
REPRESENTATIVE                                                                                                                                     (Consultants,
DIRECTOR                                                                                                                                              clothing retailers);
(appointed as                     Joe Shneider MEMBER REPRESENTATIVE DIRECTOR                       Michael Delaney                                   Director, Lennock
union-nominated director           (appointed 5 September REPRESENTATIVE DIRECTOR
                                  Joe Shneider EMPLOYER1990)                                        MEMBER REPRESENTATIVE DIRECTOR                    Phillip Pty Ltd;
26 March 1996, retired             (appointed 5 Fluidrive 1990) Franchisor, Fluidrive
                              Managing Director,SeptemberAutomotive Technologies Pty Ltd;      (appointed 23 February, 2000) Executive Director,      Immediate Past
8 December 1998;              Member, Society of Member, Society of Automotive Engineers
                              Corporation Pty Ltd; Automotive Engineers (Aust); Member,        Motor Trades Association of Australia Ltd since        President MTA,
appointed as member-          (Aust), Australian Institute of Management, Victorian
                              Australian Institute of Management; Fellow, Association of       1988; Principal Executive Officer and Fund             ACT; Director,
nominated director            Automobile Chamber ofof Australia; Certificate of Trustee
                              Superannuation Funds Commerce’s Board of Management,             Secretary, MTAA Superannuation Fund since 1989;        MTAA 1995-96.
27 January 1999)              Committee of Management – of Superannuation Trustees; Past
                              Practice, Australian Institute VACC College of Automotive        Director representing the MTAA Fund on various
National Industrial           Business Management; Deputy Chairman, Automotive Training
                              President and Life Member, Victorian Automobile Chamber of       companies in which the Fund has invested; Bachelor
Officer, Vehicle Division –   Australia Ltd, Victorian R.S.& R Training Council; Past
                              Commerce; Past Director and Chairman, Automotive Training        of Arts; Adjunct Professor, University of Canberra;
Australian Manufacturing      President, Chairman,Automobile Chamber of Commerce;
                              Australia; Victorian Victorian Automotive Industry Training      Justice of the Peace; Member, Council of the
Workers Union.                Employer Representative – Automotive Training Victoria.
                              Board; Chairman, Victorian RS&R Industry Advisory Council.       Australian National University.
                                                                                                                             MTAA SUPER ANNUAL REPORT 2001           29
      YOUR FUND




     About your Fund
     A Trustee Company, the Motor Trades                  (excluding the Union nominee) were elected for           occasions a Director may be reappointed,
     Association of Australia Superannuation Fund         a term of three years. Those appointed before            subject to the governing rules of the Fund and
     Pty Ltd (ABN 14008 650 628), is the legal            December 1998 could serve up to three                    the SIS Act.
     entity responsible for the total management of       consecutive terms while appointees after that         The Fund’s governing rules include three
     MTAA Super.                                          date could serve up to two consecutive terms.         prerequisites for a person to be considered for
         For day-to-day direction and management of           The Fund’s Constitution now sets fixed            appointment as a Director of the Fund (other
     the Fund there is a board of nine directors of       periods of tenure (three years) for all of its        than an independent Director). They are that
     whom:                                                Trustee directors which would permit each             the person:
     • four are member representatives (three             ‘retiring’ director to formally seek renomination     • is a member of MTAA Super and has been so
        appointed by members and one ACTU                 from their nominator(s).                                 for a continuous period of not less than
        nominee);                                             In respect of Employer Representative                12 months before being nominated;
     • four are appointed by MTA Ltd (the Fund’s          Directors appointment and tenure, the relevant        • is able to demonstrate a direct, substantial
        principal employer-sponsor); and                  amendments to the Constitution now provide               and relevant connection to the retail motor
     • the ninth is an independent Chairperson,           for:                                                     trades in Australia by virtue of employment,
        appointed by the eight directors.                 • the prescribed qualifications presently                business interests or membership of an
     The Constitution of the Fund’s Trustee                  required of prospective Employee                      organisation that represents the interests of
     Company (MTAA Superannuation Fund Pty                   Representative Directors also apply to                members of MTAA Super; and
     Ltd) was amended in July last year to address a         Employer Representative Directors; and             • is less than age 70 at the date of being
     number of changes to the law which imposed           • the tenure for all Directors (save an                  nominated and will not exceed this age
     new duties and obligations upon trustees of             independent Director) to be of a fixed term of        during the period of appointment if the
     superannuation funds and to address issues              three years (this equates to the existing period      nomination is successful.
     relating to corporate governance. One particular        of that tenure for current serving Member          The Fund’s governing rules are available for
     amendment related to the tenure of Directors.           Representative Directors); and                     inspection by contacting MTAA Super on
         Previously, Member Representative Directors      • no formal limit be placed on the number of          1300 362 415.


      MEMBER REPRESENTATIVE DIRECTOR VACANCY
      Under the governing rules of MTAA Super,               Trustee and at each subsequent Annual                 They must provide a brief personal history
      Mr Alix Sachinidis, a Member Representative            General Meeting thereafter, one Member             or CV of the person(s) being nominated for
      Director, will retire as a Director of the Fund        Representative Director will retire and will       appointment, including relevant qualifications.
      on the occasion of the Trustee Company’s               be eligible for reappointment; and                 Nominations can be sent to:
      Annual General Meeting in December 2001.            • members who wish to be considered for                  The Principal Executive Officer
         This means there is an impending vacancy            appointment as a Member Representative                and Fund Secretary, National Secretariat
      on the Trustee Board and nominations are               Director must satisfy the minimum                     MTAA Superannuation Fund
      being called for. Being eligible for re-election,      qualifications for appointment to MTAA                PO Box E368,
      Mr. Sachinidis has indicated his desire to nom-        Super’s Trustee Board.                                Kingston, ACT 2604
      inate for reappointment to the Trustee Board.       Fund members who wish to be considered for            The Fund’s current Member Representative
         The procedure for appointing Member              appointment as a Member Representative                Directors will review all nominations received,
      Representative Directors, which has been            Director, or wish to nominate a suitably              making any further enquiries of nominees they
      approved by the Australian Prudential               qualified person to be considered for                 decide are necessary.
      Regulation Authority is:                            appointment as a Member Representative                   They will advise their choice of a preferred
      • Member Representative Directors will              Director (and that person consents to being           candidate for appointment as a Director of the
        generally be subject to a three-year term of      nominated), can write to any of the four              Fund to the Trustee Board of the Fund.
        appointment;                                      current Member Representative Directors care             The closing date for written nominations is
      • at the next Annual General Meeting of the         of the address below.                                 Friday, 26 October, 2001.

30    MTAA SUPER ANNUAL REPORT 2000/2001
                                                PROFESSIONAL SERVICES
                                                Professional services to MTAA Super are provided by:
TRUSTEES’ INDEMNITY
INSURANCE                                          PRINCIPAL EXECUTIVE             EXECUTIVE OFFICERS              NATIONAL MANAGER,
To provide added protection to the Fund’s          OFFICER AND FUND                Paul Watson                     MARKETING AND
assets and to protect members from losses          SECRETARY                       (Superannuation)                BUSINESS
arising from any claims for damages and            Michael Delaney                 George Kochel                   DEVELOPMENT
other legal action against the Fund, the                                           (Property)                      John Jones
Directors have arranged a trustee
indemnity insurance policy through its
                                                   BUSINESS DEVELOPMENT MANAGERS
broker Heath Fielding Insurances. This
policy was most recently renewed in
January 2001.

DIRECTORS’ FEES
MTAA Super Directors receive directors’
fees and reimbursements at rates
recommended by the Fund’s Auditor. The          Graham Andrew           Richard     Craig   Peter         Diedre      Dianne      Scott
Fund’s Auditor independently reviews            Millar Gledhill         Stuttard    Walker Jones          Bell        Chitty      Harris
these fees periodically and provides a          (NSW) (NSW)             (WA)        (SA/NT) (QLD)         (QLD)       (VIC)       (VIC)
report for consideration by the Fund’s
principal employer sponsor MTAA Ltd.               CUSTOMER SERVICE ADVISERS                        ASSET CONSULTANT
FUND ADMINISTRATION                                Joshua Gaughan, Graham Green (NSW)               Access Economics
MTAA Super Fund’s administration                   Louise Charsley, Peter Bekavac (VIC)             AUDITOR
services are provided by Jacques Martin            Tania Coulter (SA)                               PricewaterhouseCoopers
Industry Funds Administration, one of              Guido Huijer (WA)                                TAXATION
Australia’s leading superannuation                 Anneke Wilson (QLD)                              PricewaterhouseCoopers
administration companies.                          ADMINISTRATIVE OFFICERS                          PRIMARY LEGAL ADVISORS
REGULATED FUND                                     Nirmali Wijayatilake, Nikki Brown,               Gardini & Co
MTAA Super is a Regulated (Public                  James Burke                                      MASTER CUSTODIAN
Offer) Fund under the Superannuation               FUND ADMINISTRATOR Jacques Martin                National Australia Bank
Industry (Supervision) Act 1993 (the SIS           Industry Funds Administration                    Custodian Services
Act). As a result, the Fund’s benefits
                                                   GROUP LIFE INSURER Hanover Life Re               BANK National Australia Bank
qualify for all available taxation
concessions. MTAA Superannuation Fund
                                                   and Australian Casualty and Life                 DEBT COLLECTION AGENCY
Pty Limited, the Trustee of MTAA Super,                                                             Industry Funds Credit Control
is an Approved Trustee as defined in the
SIS Act.

TRUST DEED                                    REPORTING TO GOVERNMENT
MTAA Super has rules stating how the          The Australian Prudential Regulation Authority    and send a completed annual return form to
Fund operates. These rules are set out in a   (APRA) is the government body that supervises     APRA annually to report on the Fund’s
legal document called a Trust Deed. You       the superannuation industry. To qualify for       operations. If you wish to obtain a copy of any
can obtain information about the Fund’s       concessional tax a superannuation fund must:      of the Fund’s past Annual Reports, contact
Trust Deed by contacting MTAA Super on        observe the relevant superannuation and related   MTAA Super on
                                              laws throughout the financial year; arrange for
                                              an annual audit of the accounts of the Fund;

                                                                                                         MTAA SUPER ANNUAL REPORT 2000/2001       31
LIFETIME OF SERVICE RECOGNISED                                                           STOP PRESS
                                  Don Armstrong has put a lifetime of hard work          AUSTRALIA’S NEWEST BANK OFFERS MTAA
                                  into building up the panel beating business            SUPER MEMBERS LOW-COST HOME LOANS
                                  started by his father in 1945.
                                      Three years ago, his service was recognised        Members Equity, the organisation that offers
                                  when he received an Order of Australia.                MTAA Super members low-cost home loans,
                                      ‘That was a very proud moment,’ says the           has been issued a banking licence by the
                                  Managing Director of Don Armstrong and Son in          Australian Prudential Regulation Authority.
                                  Melbourne.                                                 Through Members Equity, MTAA Super
                                      Don has seen many changes — cars, work             looks forward to offering even more
                                  practices and industrial relations are all radically   straightforward, easy to
                                  different. So, too, is the role of superannuation.     understand and cost
                                      Don’s company has been a part of MTAA              effective financial
                                  Super since it started, and he has served as a         products and services
                                  director of MTAA Super for three years.                to members, with no
                                      ‘We like the fact that MTAA Super is               hidden fee
                                  associated with our industry — it offers members       structures, to stand
                                  growth and stability.’                                 alongside the already
                                      Don is now trying to ease back on his work         highly successful Super
                                  commitments and improve his golf handicap.             Member Home Loans
                                      ‘That’s the theory. I’m not sure it’s working      and Super Business
                                  though.’                                               Loans products.


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                                                                                         their employers. To help us continue to
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     ACT Unit 6, 33 Allara Street, Canberra ACT                                          hear what you think about this publication.
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     WA 2nd Floor, 88 Colin Street, West Perth WA                                        on our website
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                                                                                              www.mtaasuper.com.au
     ELIGIBLE ROLLOVER FUND Australian Preservation Fund Pty Ltd, Locked
                                                                                         and you automatically go in the draw to win
     Bag 999, Carlton South VIC 3053
                                                                                         a $1,000 contribution to your MTAA Super
     s Enquiries should be directed to the Australian Preservation Fund
                                                                                         account as our way of saying thanks.
     Administrator’s office in your state, phone 1300 361 798.
     MTAA SUPER COMPLAINTS OFFICER
                                                                                         Motor Trades Association of Australia Superannuation Fund Pty Limited
     Locked Bag 20, Grosvenor Place NSW 1216                                             ABN 14 008 650 628 Licensed Dealer in Securities

								
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