BUSSQ Pension Choice PDS (1)

PENSIONCHOICEPRODUCT DISCLOSURE STATEMENT ISSUED: 30 SEPTEMBER 2015

building better futures

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Welcome ..................................................................... 1

The one for you ........................................................... 2

BUSSQ Pension features and benefits .......................... 3

About BUSSQ’s Pensions .............................................. 4

Our Pensions ............................................................... 5

Transition to Retirement Pension & strategies ............. 6

Retirement Pension ..................................................... 8

4 EASY STEPS TO START YOUR BUSSQ PENSION

DO YOUR HOMEWORKEligibility ..................................................................10

Minimum investment .................................................10

Choose a Pension ......................................................10

Centrelink and social security ..................................11

GET YOUR MONEY TOGETHERConsolidate before starting your Pension .................12

MAKE SOME DECISIONSHow much Pension ....................................................13

Pension frequency, type and amount .........................16

Investment choice options.........................................17

Choose your beneficiaries ........................................28

COMPLETE THE FORMSImportant information ...............................................30

Tax and your Pension ................................................32

Fees and other costs ..................................................36

Managing your money ..............................................39

Other information .....................................................40

Financial services guide ...........................................42

Checklist ...................................................................46

Forms ........................................................................47

Valuable services for members .................................47

TABLE OF CONTENTSIMPORTANT INFORMATION

This Product Disclosure Statement (PDS) describes the main features, benefits and conditions of the BUSSQ Transition to Retirement and Retirement Pension products. The PDS follows the requirements set by the Australian Securities and Investments Commission (ASIC).

It will help you to: Decide whether this product will meet your needs, and Compare this product with others you may be

considering.

The offer made in this PDS is only available to persons receiving the PDS within Australia. Applications from outside Australia will not be accepted.

Regulated fundBUSSQ (ABN 85 571 332 201) is a regulated fund which is operated to comply with the Superannuation Industry (Supervision) Act 1993. BUSSQ’s Super Fund Number is 268948.

BUSS(Queensland) Pty Ltd (ABN 15 065 081 281) is a Registrable Superannuation Entity licence number L0002158. BUSSQ’s AFSL number is 237860. The administrator of BUSSQ is Australian Administration Services (AAS).

Getting adviceThe advice in this PDS is of general nature. Therefore, this PDS has been prepared without taking into account your individual financial needs, circumstances and objectives. It should be read in conjunction with the latest Annual Report. You can download a copy from the BUSSQ website at bussq.com.au.We encourage you to assess your own financial situation before making an investment decision based on the information contained in this PDS. You may wish to seek the advice of a qualified Financial Planner to help you with your decision making (see inside back cover for more information on the financial advice BUSSQ offers).Your employer is not authorised to give you financial advice, unless your employer holds an AFSL, or is a representative or an authorised representative of an AFSL holder.

Explanation of super terms usedThroughout this PDS we have tried to use simple language to explain your Pension benefits. However, there were occasions where some terms could not be simplified. If you would like an explanation of a term used in this PDS, go to the resources section at bussq.com.au where a glossary of industry terminology can be found or call us.

CONTACTING USBUSSQ makes it easy for you to contact us at your convenience.

WEB bussq.com.au

PHONE 1800 PENSION (1800 736 746)

EMAIL [email protected]

VISIT BUSSQ has offices in various locations. For details go to bussq.com.au and search ‘visit us’.

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Hello! It’s great you are considering a BUSSQ Pension to help you meet your retirement goals. When you decide to join us you can rest assured, knowing we will work hard to help you make the most of your BUSSQ Pension. Because BUSSQ is a profit for members industry fund, you can also be comfortable knowing that your best interests are our top priority.

We are constantly looking at ways to enhance our products and services to make sure we continue to offer you the best value. Keeping fees low, providing strong returns, good service and most of all, assisting you to improve your retirement lifestyle are our top priority. We want you to have the tools you need to make informed choices about your super, so you can make the most of it and enjoy the kind of lifestyle you have worked hard for and deserve.

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THIS PDS CONTAINS IMPORTANT INFORMATION ABOUT INVESTING YOUR MONEY IN A BUSSQ PENSION.

WELCOME

“THANKS TO MY BUSSQ PENSION, I AM ENJOYING MY

RETIREMENT LIFESTYLE.”

DAVID SMITH

2 PENSION CHOICE PRODUCT DISCLOSURE STATEMENT

BUSSQ THE ONE FOR YOU

Unlike many other super funds that pay profits to shareholders or commissions to agents before distributing a reduced profit to members, BUSSQ is an industry fund that returns profits to members.

Profits are returned to members

BUSSQ was awarded a 7 year (2008-2015) Platinum rating for our Pension products by industry body, SuperRatings. This is the highest rating available and is awarded to funds that offer the best Pension solutions to members on the basis of strong investment returns, low fees, good customer service and additional benefits to members including financial planning advice.

Strong investment returns

There are NO establishment or administration fees on our Transition to Retirement or Retirement Pensions. BUSSQ is an industry fund and keeps its fees low to ensure more money goes to members.

Competitive fees

Financial Planning advice

BUSSQ has 11 investment options you can choose from, each with a distinctly different investment objective and strategy. You can tailor your investment approach to suit your individual needs by “mixing and matching” the options.

Investment choice

Our key objective is to assist you in maximising your retirement savings so you can enjoy a comfortable lifestyle in retirement.

BUSSQ offers members personal limited financial advice about Pensions, including choosing investments and contributions, at no extra cost as it is included in the fund’s administration fees. Some of this advice is offered over the phone by our Financial Planners.

BUSSQ also offers members and non-members more complex advice on a fee for service basis. This advice is delivered by BUSSQ’s in house Financial Planners and can be done in person or over the phone. Non-BUSSQ members who receive advice will need to be billed for the advice separately.

Our fees for financial advice are low, structured purely for cost recovery and if you’re a member they can be

deducted from your super account, so you won’t be out of pocket. The rate of $150 per hour includes GST.

To find out more go to bussq.com.au or call us on 1800 PENSION (1800 736 746).

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BUSSQ PENSION FEATURES AND BENEFITS

PICK A BUSSQ PENSION

Age Preservation age - 64 65+

WORKING Transition to Retirement

Retirement Pension

RETIRED Retirement Pension

Retirement Pension

BUSSQ PENSION BENEFITSOnce you have opened a BUSSQ Pension account, you will have access to these services:

Dedicated Pension hotline Our toll free Pension hotline allows Pension fund

members to manage their own retirement income. You can call 1800 PENSION (1800 736 746) to speak directly to one of our friendly staff in our specialist Pension team who will be able to assist you with your retirement income queries. From changing the frequency of your Pension payments and the amount you receive, to changing your investment options, our team are there to assist you 8am-6pm (EST/EDT*) Monday to Friday.

* EST = Eastern Standard Time (during winter e.g. 6 pm Qld) EDT = Eastern Daylight Time (during summer e.g. 5 pm Qld)

Online access 24/7 We also offer you the flexibility of managing your

retirement income online via MemberAccess on the BUSSQ website bussq.com.au. MemberAccess is a secure online facility that gives you access to your account anytime. You can view up to date account information, manage your investment options and beneficiaries, as well as update your personal details. If you have a BUSSQ Retirement Pension, you can even make lump sum withdrawals online. You can register for MemberAccess on joining and obtain a username, so simply log in on the right hand side of the BUSSQ homepage and follow the prompts. If you have forgotten your password, please call us on 1800 PENSION (1800 736 746) and we will be happy to provide you with another or help you with your query.

A wealth of resources We’re here to help provide you with the resources

you need to understand and manage your retirement income. You will receive regular statements, newsletters, access to our Annual Report and a wealth of other useful information via bussq.com.au. We also hold special Pension member events each year.

WHAT IS A PENSION?The first thing to understand is that the Pensions we talk about in this PDS are offered exclusively to members of a super fund. They are not the same as the Centrelink Age Pension you may be able to access through the Government. To find out more about the Government’s Age Pension you need to contact Centrelink at humanservices.gov.au or call 13 23 00.

WHAT ARE THE BENEFITS?A Pension offered through your super fund can provide you with many benefits including:

Receive a regular income paid directly into your bank account

Take advantage of tax free investment earnings and other tax benefits (if eligible)

Receive tax free Pension payments if you are aged 60 or over

Make lump sum withdrawals on top of your regular Pension payments*, and/or

Reduce the risk of mismanaging your money when you don’t have a regular income stream.

*Limitations apply if you are taking up a Transition to Retirement Pension option. See page 6 for more information.

TWO TYPES OF BUSSQ PENSIONSWhether you are already retired or winding down to retirement, BUSSQ has a Pension product to suit you.

TRANSITION TO RETIREMENT PENSION

OR

RETIREMENT PENSION

A BUSSQ Pension lets you access your super as a flexible income stream while you are still working. There are certain eligibility requirements you will need to meet (see page 10 for more information).

Basically, the type of Pension you can take up is based on your age and working status (whether you are working or retired).

The table in the next column may help you determine which of BUSSQ’s two Pension products suits you.


HOW DO THEY WORK?When you open your BUSSQ Pension account you decide, within set limits, how much you want to receive and the frequency of those payments.

Once your Pension account is opened, your account balance will continue to move up and down with investment earnings. It may decrease once you start to receive your regular Pension payments as well as with any lump sum withdrawals you make, along with any negative investment earnings.

Pension payments and any lump sum withdrawals you make are deposited directly into your nominated bank, building society or credit union account. Your regular Pension payments will continue to be paid to you until the money in your account runs out.

If you die, payments can continue to be paid to your nominated reversionary beneficiary. Alternatively, the balance of your Pension account (including any earnings), less fees and any applicable taxes, can be paid to one or more of your dependants and/or your legal personal representative (see page 28 for more information).

THINGS TO BE AWARE OFBUSSQ cannot guarantee that your payments will last for the rest of your life. Irrespective of the investment option or mix of options you choose, your account balance will decline if the return on your investments is less than the Pension payments you draw from your Pension account each year. Of course, once your BUSSQ Pension reduces to a zero balance, your Pension payments will also cease.

In addition:

There is no guarantee that the investment option(s) you choose will always achieve positive returns.

You will have restricted access to your capital if you select the Transition to Retirement Pension option. This is the case until you satisfy a condition of release (such as permanently retiring or turning 65).

Insurance is not available through a BUSSQ Pension so an alternative source of insurance cover may be required.

COMPARING BUSSQ WITH OTHER FUNDSIt’s a good idea to compare BUSSQ’s Pension products with other funds and see what best suits your needs. BUSSQ prides itself on putting members first by offering:

Competitive fees

Strong long term returns

Access to financial advice that’s easy to understand and act on

A broad range of investment options

Online access to your account 24/7.

CAN I MAKE CONTRIBUTIONS TO MY PENSION ACCOUNT ONCE I START RECEIVING PAYMENTS?

Due to Government legislation, you cannot make extra deposits, transfers or rollovers into your BUSSQ Pension account once you start receiving Pension payments.

However, you may open a second BUSSQ Pension account if you have at least $25,000 to invest.

You can also combine accounts, see ‘Getting Your Money Together’ on page 12 for more information.

ABOUT BUSSQ’s PENSIONS

FINANCIAL ADVICE FOR MEMBERSWe’re only a phone call away. Just call 1800 PENSION (1800 736 746). For more information, see page 47.

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OUR PENSIONS

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2 RETIREMENT PENSIONIf you are over your preservation age and have met a condition of release (see page 10), your BUSSQ Retirement Pension can provide you with a regular, flexible and tax effective income stream in retirement.

TRANSITION TO RETIREMENT PENSIONA BUSSQ Transition to Retirement Pension can help you to boost your super whilst reducing your taxable income if you are aged between your preservation age and 65.

See the table on page 10 for your preservation age.

EION WOLTER, BUSSQ MEMBERBOB CAINES, BUSSQ MEMBER


TRANSITION TO RETIREMENT PENSION & STRATEGIES

IS THERE A LIMIT ON HOW MUCH I CAN CONTRIBUTE TO MY SUPER?You should keep in mind there is a cap on how much money you can contribute to your super account.

Contributions made by an employer (including Superannuation Guarantee (SG) payments and those made under a salary sacrifice agreement) and personal contributions claimed as a tax deduction by a self employed person, are known as ‘concessional’ contributions and are capped at $35,000 per year for people 49 or over.

If you have more than one super account, all concessional contributions made to each super account are added together and count towards the cap.

Member voluntary contributions (known as non-concessional contributions) are capped at $180,000 per year, or up to $540,000 using the “bring forward” provisions for those under age 65 (for more information go to bussq.com.au and use the search function).

Exceeding these caps may attract tax penalties and fees.

Non-concessional contributions made after age 65 and up until age 75 continue to be subject to a ‘work test’. The work test states you need to have worked at least 40 hours during a consecutive 30 day period each financial year before the contributions are made.

Government law states that once you reach age 75 you are unable to contribute to your super. However you can still receive employer paid Superannuation Guarantee (SG) contributions.

Ease into retirement By using the funds in your Transition to Retirement

Pension account to top up your income, you also have the flexibility to reduce your working hours, without reducing your take home pay.

Additional income stream By using a Transition to Retirement Pension you can

access your Pension funds as an additional income stream to supplement your current income, once you have reached your preservation age.

WHAT IS A TRANSITION TO RETIREMENT PENSION?A BUSSQ Transition to Retirement Pension (TTR) provides you with a flexible, tax effective income whilst you are still working.

Using a Transition to Retirement Pension allows you to receive regular payments drawn from your super, whilst you are still working. This money is tax free for people aged 60 and over.

Transition to Retirement Pensions can be most effective when combined with a salary sacrifice plan.

Salary sacrificing some of your before tax pay into your super can reduce your taxable income and, if used with a Transition to Retirement Pension, may allow you to maintain your current living standard while growing your retirement benefit.

WHO CAN OPEN A BUSSQ TRANSITION TO RETIREMENT PENSION?This option is available to anyone who has reached their preservation age and who hasn’t already retired. You can find your preservation age in the table on page 10.

WHAT ARE THE BENEFITS? Reduce the tax you pay

By changing the way you receive income, you may be able to take advantage of reduced tax rates.

It’s especially worth looking into a Transition to Retirement Pension if you are 60 or over, as the payments you receive from your Transition to Retirement Pension account will be tax free, potentially saving you thousands in tax every year.

For those who have not yet reached 60, funds drawn from a Transition to Retirement Pension account are taxed at the standard rates (and are then eligible for a 15% tax rebate).

Increase your retirement savings By requesting your employer salary sacrifice some of

your before tax pay into your super account, you can also make sure you’re replacing the funds taken from your Transition to Retirement Pension account back into your super account, so your overall balance is not affected.

YOU WOULD CHOOSE THIS PENSION IF YOU HAVE NOT YET RETIRED AND YOU HAVE $25,000 OR MORE TO INVEST. IF YOU HAVE RETIRED OR ARE OVER 65, PLEASE GO TO PAGE 8.

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Name: BobOccupation: CarpenterAge: 60 Income: $60,000 p.aCurrent BUSSQ Super Balance: $102,500Bob’s take home pay (after tax): $47,853 p.a* - and he uses all of this to live on.

*Based on 2014/15 tax rates.

WITH A TTR PENSION

MEET BOB

WITHOUT A TTR PENSION

*Based on 2014/15 tax ratesBOB SAVES $3,281 IN TAX!

Bob’s Income: $60,000 p.a.Amount Bob salary sacrifices into his BUSSQ super account: $15,625 p.a.Less 15% contributions tax: -$2,344 p.a.Bob’s Taxable Salary: $44,375 p.a.Income Tax: -$6,522 Income Bob receives from his employer: $37,853Income Bob receives from his BUSSQ TTR Pension: $10,000Bob’s take home pay: $47,853 p.a.

Bob’s Income: $60,000 p.a.Bob’s Taxable Salary: $60,000 Income Tax: -$12,147*

Bob’s take home pay: $47,853 p.a.

1 BOB SAVES $3,281 IN TAX AND USES THIS TO BOOST HIS SUPER

2 BOB EARNS MORE BY HAVING HIS MONEY INVESTED IN A TTR PENSION (A TAX FREE ENVIRONMENT).

Bob will also earn approximately 1% higher investment returns on average than his super account earns for the same investment option.

3 BOB KEEPS HIS SAME TAKE HOME PAY

THINGS TO THINK ABOUT BEFORE STARTING ATRANSITION TO RETIREMENT PENSION

� Check whether you have reached your preservation age (see page 10).

� Work out how much of your super you want to transfer to a Transition to Retirement Pension. You need to leave a small balance, ($2,500) in your super account to keep the account open to allow for future contributions.

� If you receive Centrelink benefits, this strategy may affect your Centrelink payments. So talk to us first to see if this applies to your situation.

Remember, this strategy is not set in concrete. If your situation changes, you can change your pension and, if applicable, your super contributions too. It is important to be flexible!

HOW A TRANSITION TO RETIREMENT PENSION WORKS FOR BOB

The information contained in this example is for illustrative purposes only and does not necessarily reflect your needs or situation. To explore how the benefits of a BUSSQ Transition to Retirement Pension can work for you, call us on 1800 PENSION (1800 736 746) and ask to speak to a Financial Planner.

BENEFITS OF A TRANSITION TO RETIREMENT PENSION

“IT’S NICE TO KNOW THAT

RETIREMENT PLANNING DOESN’T

COST A FORTUNE WITH BUSSQ.”

MICHELE & EDITH VISCO

RETIREMENT PENSION

WHAT IS A RETIREMENT PENSION?A BUSSQ Retirement Pension provides a tax effective and flexible regular income during retirement.

You can adjust the income you receive from your BUSSQ Pension to suit your circumstances as well as supplement any Centrelink Age Pension you may be eligible for.

BUSSQ Retirement Pension members can draw payments annually, half yearly, quarterly, monthly or as frequently as twice a month, as well as take lump sum payments when needed. Tax benefits may also apply.

WHO CAN TAKE UP THIS OPTION?You would choose a BUSSQ Retirement Pension if you have $25,000 or more to invest and you are:

Over preservation age (see table on page 10) and fully retired, or

Over 65 years and still working.

PENSION CHOICE PRODUCT DISCLOSURE STATEMENT8

WHAT IS THE DIFFERENCE BETWEEN A TRANSITION TO RETIREMENT PENSION AND A RETIREMENT PENSION?

TRANSITION TO RETIREMENT PENSION RETIREMENT PENSION

The Transition to Retirement Pension is aimed at people who are still working and are between their preservation age and age 65.

A Retirement Pension is for people over their preservation age who are retired or over 65 and working.

Maximum limits apply. The total amount drawn from your Pension account in one financial year must not exceed 10% of your account balance. This limit is set by the Government.

The limit is no longer applicable once you meet a condition of release (e.g. retired).

No maximum limits apply. You can access as much as you like without any restrictions.

Generally, you are not able to make lump sum withdrawals from these accounts. Exceptions can be made if:

You have money classified as ‘unrestricted non-preserved’.

You have met a condition of release, such as permanently retiring from work or reaching age 65.

You are able to make lump sum withdrawals. However, it’s important to note that this will reduce the funds in your Pension account more rapidly and leave you with reduced opportunities to benefit from compounding interest.

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4 EASY STEPS TO START YOUR BUSSQ PENSION

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Get your money together .................12

Do your homework .............................10

Make some decisions ........................13

Complete the forms ...........................30


MAKE SURE YOU HAVE THE MINIMUM AMOUNT TO INVESTTo start your BUSSQ Pension, you will need $25,000 or more in your super account(s) to invest.

You don’t have to have an existing account with BUSSQ to start a BUSSQ Pension and the money can come from more than one place.

You can transfer money from:

An existing super account regardless of whether or not you are a member of BUSSQ

An approved deposit fund

A retirement savings account

A rollover from an existing Pension with another financial institution

Sale of investments i.e. property or shares.

Please note: You must first deposit these funds into your super account before transferring into a BUSSQ Pension account.

CHOOSE A PENSIONIf you are:

Currently working, but not yet retired, you can take up a BUSSQ Transition to Retirement Pension. This Pension only applies if you are aged between your preservation age and 64.

Still working and 65 years of age or over you can continue to work and take up a BUSSQ Retirement Pension.

Permanently retired and aged between your preservation age and 64, you can take up a BUSSQ Retirement Pension.

Permanently retired and 65 years or over, you can take up a BUSSQ Retirement Pension.

PICK A PENSION

Age Preservation age - 64 65+

WORKING Transition to Retirement

Retirement Pension

RETIRED Retirement Pension

Retirement Pension

DO YOUR HOMEWORK

MAKE SURE YOU ARE ELIGIBLEIn order to access your super to set up a BUSSQ Pension you must have reached the minimum age required by law, which depends on when you were born. This is referred to as your preservation age which can be anywhere between ages 55 and 60. This table shows the minimum age that will apply to you.

PRESERVATION AGE (

IF YOU WERE BORN YOU CAN ACCESS YOUR SUPER AT AGE

Before 1 July 1960 55

1 July 1960 to 30 June 1961 56

1 July 1961 to 30 June 1962 57

1 July 1962 to 30 June 1963 58

1 July 1963 to 30 June 1964 59

1 July 1964 or after 60

However, you may get access if you are 18 years of age or older and you have:

Legal access to your super for any other reason, such as Total and Permanent Disablement (TPD), and/or

$25,000 of super that is classified as ‘unrestricted non-preserved’ which you may have received as part of a death benefit from a deceased BUSSQ member (conditions apply).

Temporary residentsIf you are a temporary resident, you can only start a BUSSQ Pension if your superannuation payment is as a result of illness.

Should BUSSQ be advised by the Australian Taxation Office (ATO) that you are a temporary resident once the Pension has commenced, we will be required to commute the Pension and pay it to the ATO.

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BUSSQ CAN HELP YOU

CHOOSE THE RIGHT PENSION.

CALL US OR VISIT BUSSQ.COM.AU

TO FIND OUT MORE.

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CENTRELINK AGE PENSION AGE

DATE OF BIRTH QUALIFICATION AGE

FEMALE MALE

Up to 31 December 1948 Already qualified

1 January 1949 to 30 June 1952 65.0 65.0

1 July 1952 to 31 December 1953 65.5 65.5

1 January 1954 to 30 June 1955 66.0 66.0

1 July 1955 to 31 December 1956 66.5 66.5

1 January 1957 or later 67.0 67.0

CONSIDER CENTRELINK AGE PENSION IMPLICATIONSBefore starting a BUSSQ Pension you should take into consideration whether or not opening a BUSSQ Pension account will impact any Government social security payments you may be entitled to.

Centrelink Age Pension ageTo qualify for the Centrelink/Department of Veterans’ Affairs (DVA) Age Pension, you must be

aged 65 or over.

Refer to the table below to see at what age you’re qualified to receive the Age Pension.

Social SecurityCentrelink/Department of Veterans’ Affairs administers the payments and services for people who are retired or planning retirement and may not have the funds to be totally self-sufficient.

They assist with:

Centrelink Age Pension

Advance payments

Allowance rolled into pension payment

Commonwealth Seniors Health Card

Seniors Concession Allowance

Pension Loans Scheme

Income assessment for residential aged care fees

Asset assessments for entry to residential aged care

Grandparents and carers who raise and care for children/grandchildren.

The Centrelink Age Pension is a safety net for older people who are not able to fully provide for themselves in retirement. It is paid to eligible people who have reached Age Pension age.

Automatic Centrelink submission serviceIf you receive a social security benefit, such as the Age Pension, Centrelink needs to find out information about your BUSSQ Pension twice a year. This information helps Centrelink calculate your social security benefit. Centrelink needs to know how much income you have received from your BUSSQ Pension, as well as your current BUSSQ Pension account balance and commutation details. For some members this can be a difficult task, so we have teamed up with Centrelink to automate the process and make it as easy for you as possible.

In February and August each year, BUSSQ electronically advises Centrelink of the relevant data for all Pension members, which saves you time and effort.

How to find out moreWe recommend you seek financial advice with regard to your BUSSQ Pension and how it may affect your Government social security eligibility.

As a member of BUSSQ you have access to financial advice about your super. For more information see inside back cover.

To find out more about how you can access Centrelink benefits, contact us to speak with our Financial Planners on 1800 PENSION (1800 736 746) or visit the Centrelink website at humanservices.gov.au or phone Centrelink on 13 23 00.

Alternatively, if you are a Department of Veterans’ Affairs recipient you may visit dva.gov.au or call 133 254.

YOU CAN START A BUSSQ PENSION WITH AS LITTLE AS $25,000.

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It is important to remember that, by law, you cannot make further deposits, transfers or rollovers into your BUSSQ Pension account once it commences.

You should deposit all funds you have, including funds from other super and Pension accounts, into your BUSSQ super account before you request the transfer of funds into your new BUSSQ Pension account.

However, if you have a further $25,000 or more in super to invest, you can open a new BUSSQ Pension account and combine these accounts into one.

Before taking any money out of your other super accounts or financial institutions to start your Pension, you should check if there are any withdrawal fees, penalties and changes to social security assessment.

You may also need to consider what insurance cover you have and your needs as insurance is not offered through a BUSSQ Pension.

Transferring all funds from your BUSSQ super account to your BUSSQ Pension account will also cancel any insurance cover you may have.

You do have the option of leaving a small amount of money in your BUSSQ super account so you can continue your insurance cover.

For more information on this, call us.

LOST SUPERAs you prepare to set up your BUSSQ Pension, it can be a good time to check for any lost super you may have accumulated over the years.

BUSSQ can help you search for your lost super; simply TEXT your name and date of birth to 0429 558 006 or email these to [email protected]. We will then do a search for you (it may take three to four weeks to receive a response).

Alternatively, you can contact the Australian Taxation office on 13 10 20 or visit ato.gov.au and search for “lost super”.

GET YOUR MONEY TOGETHERSTEP

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TRANSFER CHECKLISTRemember: you need to complete all of these steps before opening your Pension account, as you can’t transfer money into your account once it’s open.

Tick the applicable box when you have arranged the transfer of:

All of your other super accounts into a single BUSSQ account

An existing Pension account with another financial institution

Any lost super located through the ATO

Money from other investments that have been contributed to super e.g. sale of a property or shares that you want to invest in your BUSSQ Pension.

If you need advice on getting your money together, you should speak to a Financial Planner. BUSSQ can provide you with financial advice about your super.

PENSION CHOICE PRODUCT DISCLOSURE STATEMENT

WHAT OTHER THINGS DO I NEED TO CONSIDER WHEN OPENING A BUSSQ PENSION ACCOUNT?Working out how much money you’ll need in your BUSSQ Pension account, or how to get your money together in preparation for opening a Pension account can be a tricky process.

There are numerous factors to consider and everyone’s situation will be different.

However, BUSSQ can provide you friendly and easy to understand advice about your Pension choices.

Simply call us on 1800 PENSION (1800 736 746) and ask to speak to a Financial Planner.

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EXAMPLEIf you were 60 years of age on 1 July and you opened your BUSSQ Pension account with $300,000, your minimum withdrawal amount is 4% or $12,000 for a full financial year. This is then divided by the number of payments you wish to receive per year. So, if you want monthly Pension payments you need to divide $12,000 by 12 which is $1,000. Of course, you can choose to take more than the minimum amount of $1,000 a month, but you cannot take less than the annual minimum amount of $12,000.

Based on the above, and on an account balance of $300,000, the following table shows the minimum amount per year for the different age brackets.

MINIMUM AMOUNTS

AGEPERCENTAGE OF ACCOUNT

BALANCE

MINIMUM AMOUNT PER YEAR

55 – 64 4% $12,000

65 – 75 5% $15,000

75 – 79 6% $18,000

80 – 84 7% $21,000

85 – 89 9% $27,000

90 – 94 11% $33,000

95 and over 14% $42,000

DECIDE: How much money you want to receive

How regularly you’d like to receive your payments

How you want your Pension invested

Who will be your beneficiaries.

DECIDE HOW MUCH YOU WANT TO RECEIVEThere are a number of things you need to consider when working out how much you want to receive as regular Pension payments. These include:

How long you want your Pension to last

How much you need to live on and your expenses

Any other income you are receiving

How the payments may impact on any Government Age Pension entitlements.

Minimum limitsThe Federal Government has set annual minimum withdrawal limits, which is the minimum amount you must withdraw in any one financial year from your Pension account, based on your age (see minimum amounts table).

The account balance used to calculate your minimum amount in the first year is the balance at the start date of your Pension (see work sheet on page 15). For subsequent years it will be your account balance at 1 July each year.

BUSSQ will automatically calculate minimum levels for you when your Pension starts, and annually thereafter.

You also have the flexibility to decide at any time how much, over and above this minimum limit, you may wish to receive in Pension payments for the next year.

There is no maximum limit if you have a BUSSQ Retirement Pension and it can be cashed in at any time.

WORK OUT YOUR MINIMUM AMOUNTTo work out your minimum amount, multiply the opening balance of your Pension account by the percentage relevant to your age.

MAKE SOME DECISIONSSTEP

3

You don’t need to make these decisions alone. BUSSQ offers you financial advice to assist you in making the right decisions for your Pension. For more information call 1800 PENSION (1800 736 746) and ask to speak with a Financial Planner.


Maximum limits

Only apply if you have opened a BUSSQ Transition to Retirement Pension.

The maximum limit is 10% of your account balance at 1 July in any one financial year and will remain so until you meet a condition of release, such as permanently retiring or reaching age 65.

Maximum is not pro-rated regardless of when your Pension starts.

STARTING YOUR PENSION After 1 July

If you start your BUSSQ Pension after 1 July, the minimum amount is pro-rated. This means, if you open your Pension account on 1 January, there are only six months or 181 days (in a non-leap year) left in that financial year so based on the outcome in the example on page 13, you would only have to take $5,950 for the remainder of the year or $992 per month.

Your minimum BUSSQ Pension amount for the remaining six months is calculated as follows:

$12,000 x 181 days remaining/365 days = $5,950.68

When rounded to the nearest $10

= $5,950 per financial year, or

= $992 per month for the remaining six months.

In June

If you start your BUSSQ Pension in June, no minimum limit applies for that month (in the first financial year you open your BUSSQ Pension account).

If you choose the minimum amount for your payments, we will automatically adjust your Pension payments on 1 July each year to the minimum limit and you won’t have to do anything more.

If you choose a specified amount, you will receive this amount each year unless you advise us otherwise, provided it remains above the minimum limit.

We will automatically adjust your payments to meet the minimum limit if the amount you have requested falls below the minimum annual limit.

PLEASE NOTE

Annual payments will always be rounded to the nearest $10.

PLEASE NOTE

BUSSQ will notify you soon after the beginning of each financial year, what your new minimum Pension payment will be for the new financial year.

MINIMUM AMOUNTS

AGE PERCENTAGE OF ACCOUNT BALANCE

55 – 64 4%

65 – 74 5%

75 – 79 6%

80 – 84 7%

85 – 89 9%

90 – 94 11%

95 and over 14%

EXAMPLELet’s say you are 56 years of age and you started your Transition to Retirement Pension with a balance of $180,000, your minimum and maximum amounts will be calculated as:

Minimum amount: $180,000 x 4% = $7,200

Maximum amount: $180,000 x 10% = $18,000

This means your total withdrawal amount will need to be between $7,200 and $18,000 for a full financial year.

Where a Pension is commenced part way through the year, payments will be pro-rated.

15

EVERY YEAR YOU HAVE THE FLEXIBILITY TO DECIDE THE AMOUNT YOU WILL BE PAID THROUGH YOUR PENSION PAYMENTS.

STARTING PAYMENTSYou can start to receive your Pension payments soon after your BUSSQ Pension has been set up.

Payments will be deposited into your nominated bank, building society or credit union account no later than the 15th/28th of the month. Payments will continue to be made for as long as there is money in your account.

PENSION CALCULATORA calculator is available at bussq.com.au. The calculator helps you to determine how long your balance may last when you move into a BUSSQ Pension. It uses various assumptions about investments and inflation so that you can determine the appropriate amount to invest.

PLEASE NOTE

How long your BUSSQ Pension lasts will depend on:

How much you initially invested

How often you receive your Pension payments

How much you nominate to be paid per payment

How often you make lump sum withdrawals

Fees

Investment earnings

WORK SHEETWork out your own minimum Pension amount

Your account balance on 1 July

$

(A)

The minimum limit percentage based on your age (See table on page 14)

% (B)

Multiply (A) by (B) and round to nearest $10

$

(C)

The answer (C) is the minimum amount that you can withdraw from your Pension in a full financial year.

To find out what your:

Minimum quarterly payments will be: Divide (C) by 4

$

Minimum monthly payment will be: Divide (C) by 12

$

Minimum twice monthly payment will be: Divide (C) by 24

$

DECIDE THE FREQUENCY OF YOUR PAYMENTSYou can choose how frequently you want your BUSSQ Pension payments deposited into your bank account, building society or credit union account. You can choose to receive your payments twice monthly, monthly, quarterly, half yearly or yearly. You must receive at least one payment per year.

The frequency of your Pension payments will probably depend on what you are used to. For example, if you have been receiving your salary monthly for most of your working life, then it is likely you will want to receive your Pension payments monthly as well.

PLEASE NOTE

You have the flexibility to change the frequency of your Pension payments at any time. Simply contact us on 1800 PENSION (1800 736 746). You can also do this online by logging into MemberAccess at bussq.com.au.

16

LUMP SUM WITHDRAWALSAt some point in time you may need to access a lump sum of money in addition to your regular BUSSQ Pension payments. You may want to use it to go on an overseas holiday, upgrade your car, paint your house or pay for unexpected medical expenses.

No matter what the need, you can make lump sum withdrawals from your BUSSQ Retirement Pension at any time.

The minimum lump sum withdrawal you can make is $1,000 and after the withdrawal is made you must have, at least, $5,000 remaining in your account to keep it open. Alternatively, you can close your Pension account and withdraw the full balance. A fee of $30 applies to every partial lump sum withdrawal you make. A fee of $100 applies if you close your Pension account.

“PENSION PLANNING MEANS A

SMOOTHER RETIREMENT.”

BARBARA & RODGER TAYLOR

If you want to make a lump sum withdrawal, you can do so by completing and returning a Lump sum withdrawal form which can be obtained by contacting BUSSQ or download it from our website bussq.com.au.

You can also transfer up to $10,000 to your bank account online via MemberAccess.

Your lump sum withdrawal request will be electronically transferred to your nominated bank, building society or credit union account within seven to 10 days of your request being received by BUSSQ.

Restrictions apply for Transition to Retirement Pensions (see pages 6 to 7 for details).

PENSION CHOICE PRODUCT DISCLOSURE STATEMENT

17

BLENDED GROWTH STRATEGY DEFAULT OPTIONYou can choose where you want your BUSSQ Pension invested. BUSSQ offers a range of 11 different investment options across both pre-mixed and single asset classes (see page 19-25 for details).

If you don’t want to make a choice you can look at BUSSQ’s default Pension investment option – Blended Growth Strategy.

This option has been developed by BUSSQ’s experienced team of Financial Planners.

You don’t have to make an investment decision when you start a BUSSQ Pension. The Blended Growth Strategy is a mix between the Cash and Balanced Growth investment options. This mix will be 15% in the Cash option and 85% in the Balanced Growth option, and your Pension payments will come from the Cash option to begin with. You will be investing for the purpose rather than the investment return, using short term money (Cash) for Pension payments and leaving the Balanced Growth option, which is a longer term investment, time to grow in the market before drawing from this option.

We’ve provided this custom built strategy to give you comfort in the draw down stage of your investment. We want you to sleep better at night without having to worry about the next investment market collapse.

Of course this doesn’t mean you are locked into this strategy forever; you have the flexibility to choose your own investment option or mix of options at a later time if you wish.

Note that we cannot make any investment changes without your permission first. Because the Pension payments come out of the Cash option, this will eventually deplete. The timing of this will depend on how much you are drawing and the investment returns in that option. If you take no further action once the Cash option is depleted, future Pension payments will come from the Balanced Growth option.

You should review your statements or login to your account via MemberAccess at bussq.com.au from time to time to check how much is left in the Cash option, and do an investment switch to bring the mix back to the original ratio if you wish to.

INVESTMENTS – IT’S YOUR CHOICE

Once there are no funds left in the Cash option to make your regular Pension payments from, they will then come from your investments in the Balanced Growth option.

When you initially invest in the Blended Growth Strategy, 85% of your funds are invested in the Balanced Growth option and 15% are invested in the Cash option.

The amount in Cash is to meet your Pension income needs over the short term (generally 2-3 years).

Pension payments are initially drawn from funds invested in the Cash option.

HOW IT WORKSThe illustration below provides an example of how the BUSSQ Blended Growth Strategy is designed to work over time.

85% Balanced Growth

15% Cash

92% Balanced Growth

8% Cash

100% Balanced Growth

If you would like to speak to a BUSSQ Financial Planner about the best investment option/s for your personal situation, please call us on 1800 PENSION (1800 736 746).


WHY MAKE A CHOICE?The decision to choose an investment option or mix of options means that your Pension is invested in a way that best suits your financial circumstances. Aspects such as your age, your tolerance to risk and your future expectations all impact your investment decisions.

The investment section in this PDS provides general information about the investment options available for BUSSQ Pensions.

When making your choice we recommend you seek financial advice from a licensed Financial Planner.

TAKE CONTROLManaging your super is just like managing any other type of investment you may have.

It is about finding the balance between security and the performance that you feel comfortable with, and then putting an investment plan into action that will help you achieve your future financial goals.

BEFORE YOU START TO INVESTIf you are not confident about investing, you are encouraged to read the following pages before making your investment choice decision or get some financial advice. BUSSQ offers members advice about their super; see inside back cover for more information.

It is important that you take the time to understand the basics, as it will help you to determine your risk tolerance and your investment return expectations. It will also put you in a better position to select the investment option or mix of investment options that are best suited to you.

DECIDE WHICH INVESTMENT OPTION YOU WANT YOUR PENSION PAYMENTS AND FEES DEDUCTED FROMBUSSQ gives you the flexibility to choose where your Pension payments and management fees are deducted from.

You can indicate your choice on the Pension Application form.

If you don’t choose an investment option for the deduction of your Pension payments and fees, these will be deducted proportionally across all of the investment options you have selected.

LET US HELP!BUSSQ is happy to offer professional, easy to understand advice to both members and non-members. Call 1800 PENSION (1800 736 746) and ask to speak with a Financial Planner.

DERIVATIVESThe Trustee and BUSSQ’s investment managers have the discretion to invest in derivative financial instruments from time to time. This is generally done to either hedge away a particular risk or to immediately rebalance the investment portfolio in a quick and efficient manner.

SPEAK TO AN EXPERT BEFORE YOU INVESTYou don’t have to make investment decisions on your own.

For expert advice call 1800 PENSION (1800 736 746)

and ask to speak to a BUSSQ Financial Planner.

19

IT’S YOUR MONEY, SO TAKE CONTROL OF HOW IT’S INVESTED.

GROWTH ASSETS DEFENSIVE ASSETS

Growth assets are more risky – but can deliver higher returns over the long-term.

Growth assets include:

Shares – Companies listed on a stock exchange issue shares (also known as equities or stocks) to raise capital. You become a shareholder and part owner when you purchase shares in the company and that means you are entitled to any company profits (which are distributed as dividends). Company performance, industry conditions or movement in the share market can impact share prices.

Property – Includes land and buildings that can be bought, sold or leased. Investing in property through a super fund lets you and other members pool money to enable you to part own properties that would otherwise be too expensive for you to acquire on your own. For example, office buildings and shopping centres. Like shares, property is influenced by many factors including supply and demand and market conditions.

Defensive assets are less risky – therefore they can be used to protect your investment against loss. However, they generally deliver lower returns.

Defensive assets include:

Fixed interest – When an investor lends money to governments, semi-government bodies and corporations, interest is paid at an agreed rate, which is fixed for the term of the loan. These investments are also known as bonds. Fixed interest investments can be held until they mature or traded at any time before maturity. If they are sold before maturity, the price will depend on the interest rate at the time. Returns from fixed interest investments occur from regular interest payments and any change in value caused by movements, either up or down, in interest rates. Fixed interest is usually a more stable investment than shares, but can be affected by currency movements and interest rate.

Cash – Investments in cash includes money invested in term deposits or bank bills and interest is earned on the cash invested. This is similar to having money in a bank account. Over the long term, cash is likely to produce the lowest return of all the main asset classes.

OVERSEAS INVESTMENTS

Investments in shares and fixed interest can be made in Australia or overseas. In fact, the Australian share market accounts for about 2% of the world share markets. When investing overseas, returns can also be affected by changes in the value of the Australian dollar. These changes can enhance overseas returns (when the Australian dollar is falling) or detract from overseas returns (when the Australian dollar is rising).

Fixed interest (or bonds)

Cash

INVESTMENT BASICSBUSSQ invests your savings across four main types of investments or asset classes:

Shares (Australian and overseas)

Property (Australian)

These asset classes are grouped into two types – GROWTH assets and DEFENSIVE assets.


SWITCHING OPTIONSBUSSQ gives you the flexibility to switch your investment option or mix of options at no extra cost.

All switch requests received in the period 6.01 pm Friday to 6 pm the next Friday (EST/EDT*), will be processed with an effective date as at the next Wednesday following the declaration of the weekly unit price. Unit prices are declared weekly.

* EST = Eastern Standard Time EDT = Eastern Daylight Time

How do I notify BUSSQ about my switch?There are two ways to change your investment selection.

Online – simply log into MemberAccess at bussq.com.au and follow the prompts.

Use a Member Investment Choice Form – You can obtain this form by downloading it from bussq.com.au or by calling 1800 PENSION (1800 736 746) and request one to be sent to you.

Once you have completed your Member Investment Choice form you can mail it to:

BUSSQ GPO Box 2775, Brisbane QLD 4001

ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONSCurrently BUSSQ does not take environmental, social or governance considerations into account when selecting, retaining or redeeming the investments of BUSSQ.

Investments and investment managers are selected purely on their ability to contribute toward the achievement of BUSSQ’s investment objectives.

The BUSSQ Board has put in place a long term strategic plan to towards taking these considerations into account when making investment decisions

UNDERSTAND INVESTMENT RISKBecause your money is invested in financial markets, you are exposed to investment risk.

Investment risk is the degree to which returns go up and down in value over time. You cannot consider return without risk and generally, the higher the potential return, the higher the risk. In order to achieve higher returns you must be willing to take on more risk. While shares, property and fixed interest securities might offer higher long term returns than cash, they also expose you to higher levels of risk, particularly in the short term.

In financial terms, there is also a risk of not having enough assets or money to provide you with the lifestyle you desire in retirement. Therefore, if you try to avoid risk altogether you may in fact not save enough to provide you with this lifestyle for the whole of your retirement. In fact, it may not even keep pace with inflation.

UNDERSTAND YOUR TOLERANCE TO RISKYour tolerance to risk is an important factor to consider before making your investment choice. Everyone has a different tolerance to risk and you need to be comfortable with the level of risk that is associated with the investment option or mix of options you choose.

The chart on the following page shows the broad long-term relationship between risk and return and where each of BUSSQ’s 11 investment options appear on the risk/return scale.

DIVERSIFICATION HELPS REDUCE RISKBecause you cannot tell how each asset class will perform over a future period, diversifying or spreading your investments across a range of asset classes has the potential, over time, to smooth out any ups and downs associated with the returns on your investment.

The risk/return profile of each of BUSSQ’s pre-mixed options is determined by how much is allocated to growth assets relative to defensive assets. The greater the proportion of growth assets, the riskier the investment becomes, but similarly, the greater the potential return over the longer term. BUSSQ has taken a slightly more conservative investment approach to its Pension products

compared to super.

21

THINK ABOUT YOUR INVESTMENT TIME FRAMEYour investment time frame is the length of time you believe you will need to receive an income. This period becomes very important when choosing your investment option or mix of options.

After retirement, at say age 65, the average person can expect to live another 15-20 years.

Therefore, the longer your investment time frame, the more time you have to ride out the ups and downs. If you have a short time frame then stability in the value of your investment may be more important to you.

BUSSQ’s SKILLED INVESTMENT MANAGERSWe are constantly monitoring markets and their impact on BUSSQ’s investment portfolio. Our share portfolios are managed by a range of experienced and skilled investment managers who use a disciplined investment process to identify good quality stocks. We remain committed to managing a well diversified portfolio that is designed to provide members with good returns over the long term.

The asset allocation is sometimes adjusted in line with changes in the market and to meet the stated investment strategy. You will be advised 30 days before any significant change to the asset allocation is made.

INVESTING YOUR MONEYAn Investment Committee, appointed by the BUSSQ Trustee Board, makes recommendations to the Board about where BUSSQ’s money should be invested. The Investment Committee and the Board obtain professional investment advice from its investment consultant, Frontier Investment Consulting.

Assets are allocated within ranges set by the BUSSQ Board after consultation with its investment consultant. The Board reviews these ranges on a regular basis. Specialist investment managers are interviewed and selected for each of the asset classes. They are selected on a management

and performance basis and they are required to report regularly to the Board. The investment managers are constantly monitored by the Trustee.

Details of where the money is invested can be found in BUSSQ’s Annual Report. Download a copy at bussq.com.au or call us 1800 PENSION (1800 736 746) to obtain a copy.

PLEASE NOTE: The expected returns are for illustration purposes only and should not be used to calculate future benefits. The frequency of a negative return is based on the Standard Risk Measure Guidance for trustee’s recommended by APRA, ASFA and FSC and is explained in the table at the bottom of the page.

RISK VS RETURNPRE-MIXED SINGLE ASSET CLASS

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MEASURING RISKA standard risk measure for investment options has been developed for super funds to make it easier for you to compare investments options (both within and across super funds). The numeric measure is based on ‘how likely will there be negative annual returns over a 20 year period’. There are seven risk bands and they are as follows:

Risk Band

Risk Label Estimated number of negative annual returns over any 20 year period

1 Very low Less than 0.5

2 Low 0.5 to less than 1

3 Low to medium 1 to less than 2

4 Medium 2 to less than 3

5 Medium to high 3 to less than 4

6 High 4 to less than 6

7 Very high 6 or greater


PRE-MIXED OPTIONS

DEFENSIVE BALANCED GROWTH

Overview

Designed for short to medium term investors looking for stable returns with minimal capital growth. The Defensive option provides investment mainly in fixed interest securities, with moderate exposure to growth assets, such as shares and property. The frequency of a negative return is expected to be once in 30 years.

Overview

Designed for medium to long term investors. Balanced Growth is the most diversified pre-mixed option and provides a mix of growth and defensive assets such as shares, property and fixed interest securities. The frequency of a negative return is expected to be once in eight years.

Investment objective

For the annual rate credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by +2.5% per annum.


For the annual rate credited to members to exceed the change in the Consumer Price Index by +4% per annum.

Target asset allocation Target asset allocation

Suggested minimum time horizon

At least three years


At least five years

Compound average return to 30 June 2015


5 Year 10 Year 5 Year 10 Year

8.15% 6.96% 11.20% 8.20%

Risk factor Risk band

2Risk factor Risk band

4

CHOOSE YOUR OWN INVESTMENT MIX

26.5%

20%

12%

12%

10%

7%

8.5%

2%

2%

Fixed InterestCashInfrastructurePropertyAustralian SharesInternational SharesOpportunistic DebtAgricultureGlobal Private Equity

29%

17%

12%

12%

13%

7%

2%

4%

4%

Australian SharesInternational SharesInfrastructurePropertyFixed InterestOpportunistic DebtAgricultureGlobal Private EquityCash

USING THE STANDARD RISK MEASUREThe Standard Risk Measure is based on industry guidance to allow you to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period.

The Standard Risk Measure is not a complete assessment of all forms of investment risk, for instance it does not detail of what the size of a negative return could be or the potential for a positive return to be less than you may require to meet your objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return.

You should still ensure you are comfortable with the risks and potential losses associated with your chosen investment option(s).

The use of the Standard Risk Measure is endorsed and strongly recommended by the Australian Prudential Regulatory Authority (APRA), Australian Securities and Investments Commission (ASIC), Association of Superannuation Funds of Australia (ASFA) and the Financial Services Council (FSC) for all Australian super funds.

23

SINGLE ASSET CLASS OPTIONS

HIGH GROWTH

CASH DIVERSIFIED FIXED INTEREST

Overview

This option may suit long term investors looking for an attractive return and capital growth who can tolerate a higher level of risk and volatility. High Growth provides a high allocation of investments to growth assets, such as shares. The frequency of a negative return is expected to be once in five years.

Overview

This investment option is for investors who are risk averse and looking for a secure 100% cash investment. This option may suit members who are willing to sacrifice overall return in favour of less risk and a steady rate of return. The Cash pool aims to avoid negative returns in any year.

Overview

This investment option is for investors looking for a stand alone Fixed Interest investment. This option invests in BUSSQ’s Australian and International Fixed Interest sectors with weightings that replicate the Balanced Growth option’s allocations to these two sectors. The frequency of a negative return is expected to be once in 20 years.


For the annual rate credited to members to exceed the change in the Consumer Price Index by +4.5% per annum.


For the annual rate credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by +1% per annum.



Target asset allocation Target asset allocation Target asset allocation


At least 10 years


Not applicable


At least three years




5 Year 10 Year 5 Year 10 Year 5 Year 10 Year

12.45% 9.00% 4.12% NA^ 6.00 NA^




3

39%

26%

12%

12%

5%

2%

4%

Australian SharesInternational SharesInfrastructurePropertyOpportunistic DebtAgricultureGlobal Private Equity


CHOOSE YOUR OWN INVESTMENT MIX


AUSTRALIAN SHARES

AUSTRALIAN (LARGER COMPANIES) SHARES

AUSTRALIAN (SMALL COMPANIES) SHARES

Overview

This investment option is for investors looking for a stand alone Australian Shares investment. This option is a sector specific option and invests 100% in BUSSQ’s Australian Shares sector. The frequency of a negative return is expected to be once in four years.

Overview

This investment option is for investors looking for a standalone investment focused on shares in larger Australian companies. This option is a sector specific option and invests 100% in Australian shares and, in particular, larger listed companies. The frequency of a negative return is expected to be once in four years.

Overview

This investment option is for investors looking for a standalone investment, focused on shares in smaller Australian companies. This option is a sector specific option and invests 100% in Australian shares and, in particular, smaller listed companies. The frequency of a negative return is expected to be once in four years.


For the annual rate credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by + 4.5% per annum.


The investment objective is for the annual rate of earnings credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by +4.5% per annum.


The investment objective is for the annual rate of earnings credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by +5% per annum.



At least 10 years


At least 10 years


At least 10 years





11.71% NA^ NA^ NA^ NA^ NA^




7

Remember that investment returns cannot be guaranteed from year to year. Past performance of a particular investment sector does not necessarily provide an accurate indicator of future performance.

25


ALL SHARES

INTERNATIONAL SHARES

INT. (EMERGING MARKETS) SHARES

Overview

This investment option is for investors looking for a diversified shares investment covering both Australian and International Shares. The option will invest 50% in Australian shares and 50% in Overseas Shares with no currency hedging (unhedged). The frequency of a negative return is expected to be once in four years.

Overview

This investment option is for investors looking for a stand alone International Shares investment. This option has variable currency hedging depending on market conditions and the assessed relative value of the Australian dollar. The frequency of negative return is expected to be once in four years.

Overview

This investment option is for investors looking for a standalone investment in international shares in emerging market countries (ie. Brazil, India and China). This option is unhedged, which means that it will be subject to fluctuations in performance because of currency movements. The frequency of a negative return is expected to be once in four years.


The investment objective is for the annual rate of earnings credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by +4.5% per annum.




For the annual rate of earnings credited to members to have a reasonable probability of exceeding the change in the Consumer Price Index by +5% per annum.



At least 10 years


At least 10 years


At least 10 years





NA^ NA^ 16.52% NA^ NA^ NA^




7

^ Cash, Australian Shares, International Shares and Diversified Fixed Interest investment options commenced 1 October 2006, so no 10-year figures are shown. Australian (Larger Companies) Shares, Australian (Small Companies) Shares, All Shares, International (Emerging Markets) Shares have only been available since March 2011 so no 5 or 10-year figures are shown. These figures are based on the latest returns available at the time of print. Refer to bussq.com.au for previous financial year returns.* The frequency of a negative return is based on the standard Risk Measure Guidance for trustee’s recommended by APRA, ASIC, ASFA and FSC and is explained on page 21.


RISKS TO CONSIDER

THE RISKThere are various types of risk associated with investing in a super fund and the most important are discussed here.

All investments are subject to varying risks and generally all investments change in value over time. Different asset classes perform differently at different times.

The significant risks that relate to investing in BUSSQ are: Market risk, inflation, individual investment risk, interest rate risk, currency risk and derivatives risk.

The effect of these risks is reduced by diversification, that is, by investing in a wide range of different types of investments, such as those BUSSQ invests in.

The risk profile and investment objectives of BUSSQ’s investment options are outlined on pages 22 to 25.

Other risks that may have an impact when investing in BUSSQ include: Regulatory risk, timing risk and taxation risk.

Because each of BUSSQ’s investment options have a different investment mix, the risks of investing in each option are different. While each of the risks identified can happen, the risks marked in this table are the ones we believe are the most significant for each.

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Inflation – The risk that inflation may exceed the return on your investment. This means that the purchasing power of your investment will be reduced.

Market – The risk that the performance of the market as a whole will affect the investment option’s returns. The market can be affected by economic, technological, political or legislative conditions, world events and even market sentiment.

Individual investment – The risk that individual assets falling in value as a result of changes in the internal procedures or management of a fund or entity in which BUSSQ invests.

Interest rate – The risk that changes in interest rates can impact directly or indirectly on investment returns.

Currency – The risk that changes in the value of currencies can affect the return on overseas investments. A rise in the Australian dollar relative to the currency in which the asset is invested may result in a fall in the capital value of your overseas asset.

Derivatives – The investment managers included in these investment options may include derivatives as a method of managing risk or gaining exposure to other types of investments. The risks associated with derivatives include the value of the derivative failing to move in line with the underlying asset, potential illiquidity of the derivative, the fund not being able to meet payment obligations as they arise and counterparty risk where the counterparty cannot meet its obligations.

Regulatory – The risk of changes in government policy or legislation which may affect your ability to access your benefits. For example, amendments to the treatment of superannuation interests of members in family law matters means that your super benefit may be split with your spouse in the event of your divorce or permanent separation.

Timing – The risk that you may try to time the market and buy low and sell high. This will increase the volatility of your investment and increase the risk. Most people cannot successfully time the market.

Liquidity – As super is a long term investment BUSSQ invests some of the fund in assets such as property, infrastructure and agriculture that cannot be liquidated quickly. BUSSQ manages this with regular reporting from our investment consultants and by ensuring that enough cash is held to meet most short term requirements.

27

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Inflation – The risk that inflation may exceed the return on your investment. This means that the purchasing power of your investment will be reduced.

Market – The risk that the performance of the market as a whole will affect the investment option’s returns. The market can be affected by economic, technological, political or legislative conditions, world events and even market sentiment.

Individual investment – The risk that individual assets falling in value as a result of changes in the internal procedures or management of a fund or entity in which BUSSQ invests.

Interest rate – The risk that changes in interest rates can impact directly or indirectly on investment returns.

Currency – The risk that changes in the value of currencies can affect the return on overseas investments. A rise in the Australian dollar relative to the currency in which the asset is invested may result in a fall in the capital value of your overseas asset.

Derivatives – The investment managers included in these investment options may include derivatives as a method of managing risk or gaining exposure to other types of investments. The risks associated with derivatives include the value of the derivative failing to move in line with the underlying asset, potential illiquidity of the derivative, the fund not being able to meet payment obligations as they arise and counterparty risk where the counterparty cannot meet its obligations.

Regulatory – The risk of changes in government policy or legislation which may affect your ability to access your benefits. For example, amendments to the treatment of superannuation interests of members in family law matters means that your super benefit may be split with your spouse in the event of your divorce or permanent separation.

Timing – The risk that you may try to time the market and buy low and sell high. This will increase the volatility of your investment and increase the risk. Most people cannot successfully time the market.

Liquidity – As super is a long term investment BUSSQ invests some of the fund in assets such as property, infrastructure and agriculture that cannot be liquidated quickly. BUSSQ manages this with regular reporting from our investment consultants and by ensuring that enough cash is held to meet most short term requirements.

INVESTING IN A WIDE RANGE OF

INVESTMENT OPTIONS MAY HELP

YOU TO REDUCE RISK.


DECIDE YOUR BENEFICIARIESBefore you start your Pension, it’s important to consider who you would like to receive any money left in your Pension account when you die.

If you die and have a Pension account with BUSSQ, any remaining balance will be paid to your dependants and/or your legal personal representative. The balance of your account is made up of any money remaining in your account, less outstanding fees and taxes.

WHO GETS YOUR PENSION IF YOU DIE?

Your BUSSQ Pension gives you three options to provide for your dependents in the event of your death prior to funds in your BUSSQ Pension account depleting.

OPTION 1

Nominate a reversionary beneficiaryA reversionary Pension will be paid from your Pension account to your spouse or other named reversionary beneficiary following your death.

A reversionary beneficiary must be a spouse (see Definition of a spouse on page 29).

You can only nominate a reversionary beneficiary when you commence your BUSSQ Pension. If you want to change your nominated reversionary beneficiary at a later date, you have to cancel the Pension related to your nominated reversionary beneficiary and open a new BUSSQ Pension.

If you do not nominate a reversionary beneficiary at the commencement of your BUSSQ Pension, in the event of your death, the remainder of your Pension will be paid as a lump sum to one or more of your dependants or your legal personal representative as determined by BUSSQ.

A reversionary beneficiary can commute their Pension and be paid a lump sum benefit. If the reversionary beneficiary dies before their BUSSQ Pension account runs out, the balance of the account will be paid to the reversionary beneficiary’s preferred beneficiaries or legal personal representative.

CHOOSE YOUR BENEFICIARIES

The most appropriate nomination will depend on your personal circumstances.

If you do not make a nomination, the Trustee will, in its absolute discretion, pay your benefit to your dependant(s) and/or your legal personal representative when you die.

The treatment of death benefits can be quite complex and BUSSQ can provide easy to understand advice about selecting nominations and planning your estate.

Call us on 1800 PENSION (1800 736 746) and ask to speak to one of our Financial Planners (information on types of advice and fees can be found on page 36).

REVERSIONARY BENEFICIARY (see right) A reversionary beneficiary is usually your spouse which includes your wife, husband or de-facto partner who lives permanently with you on a genuine domestic basis.

OR

PREFERED BINDING BENEFICIARIES (see page 29) A preferred beneficiary is a nominated dependent. If your nomination is binding and valid, the Trustee of the Fund would generally pay any death benefit to your nominee/s.

OR

PREFERRED NON-BINDING BENEFICIARY (see page 29) If your nomination is non-binding, the Trustee will use your nominee/s as a guide but is not legally bound by your nomination choices.

29

OPTION 3

PAYMENT OPTIONSIn most situations, the reversionary beneficiary will receive the benefit through ongoing payments from a Pension account. However, payments cannot be made to your child once they reach the age of 18 unless they are:

Between 18 and 25 and studying full time, or

Permanently disabled.

Once the child is no longer eligible to receive payments, the remainder of the balance will be paid to them as a lump sum.

If your child is permanently disabled, they can be paid a reversionary Pension regardless of their age (until funds

run out).

OPTION 2

IT’S IMPORTANT TO THINK AHEAD AND MAKE SURE YOUR LOVED ONES ARE LOOKED AFTER.

Nominate your preferred binding beneficiaryYou may nominate one or more of your preferred beneficiaries or your legal personal representative as the recipient of your BUSSQ Pension in the event of your death.

If you make a valid binding nomination, the Trustee of the Fund is obliged to follow your nominations made on your Binding Death Benefit Nomination form when it comes time to pay your death benefit.

If you make a binding nomination to someone who is not a dependant or legal personal representative, the trustee may not be able to abide by your wishes at the time of death.

There are certain conditions that must be met to make sure your binding nomination is valid, call 1800 PENSION (1800 736 746) to find out more information.

Nominate your preferred non-binding beneficiary

If you choose to make a non-binding nomination, BUSSQ will use it as a guide, along with other current and relevant information it has, to make a decision in the event of your death.

It is at the Trustee’s discretion where your death benefits will go.

Spouse

Two people are in an interdependent relationship if:

They have a close personal relationship, and

Live together, and

One or each of them provides the other with financial support, and

One or each of them provides the other with domestic support and personal care.

An interdependent relationship also exists if two people have a close personal relationship, but the other requirements are not satisfied because either or both of them suffer from a physical, intellectual or psychiatric disability.

Your legal personal representative is the executor of your will or the administrator of your estate.

DEFINITION

Dependant

For superannuation purposes, the following definition of ‘dependant’ applies:

Your spouse (legal or de facto)

Children

Any person financially dependent on you at the time of your death, or

Any person who is in an interdependency relationship with you at the time of your death.


If you wish to open a BUSSQ Pension you need to complete and return the forms at the back of this PDS. You will also need to provide proof of your identity as outlined in this section.

PLEASE COMPLETE AND RETURN:

Pension Application form (mandatory): Make sure you tick the appropriate box to indicate which Pension you are taking up, whether a Transition to Retirement Pension or a Retirement Pension. This form advises BUSSQ of the amount that you plan to roll over to start your BUSSQ Pension. It also informs BUSSQ about how much (if any) you want to withdraw as a lump sum from your BUSSQ super account before the funds are moved to your BUSSQ Pension account.

This form also includes decisions you will need to make, as outlined in Step 3, including the annual amount you want to receive, how regularly you want your Pension to be paid, where you want your Pension invested and who you want to nominate as your beneficiary(ies).

ATO’s Tax File Number declaration (mandatory if under age 60): This allows BUSSQ to deduct the correct amount of tax from your Pension payments. If you are over 60, your Pension is tax free.

Residency declaration on the application form.

Copy of bank statement of the account where you want your Pension payments to go. This should include name, BSB and account number.

Binding Nomination Complete the binding Death Benefit Nomination form if required.

DON’T FORGET TO ROLLOVER It’s a good idea to rollover your non-BUSSQ super

accounts into a single BUSSQ account before you open your BUSSQ Pension. This helps make sure all your money is in one place which makes it easier to plan ahead.

There are three easy ways to rollover your other super accounts into BUSSQ:

1. Call us on 1800 PENSION (1800 736 746) and ask to rollover your super. Please make sure you have your member numbers from previous super accounts on hand before you call.

2. Do it online through MemberAccess at bussq.com.au.

3. Use the Rollover Your Super form in this document. You may photocopy the form if you have more than one super account you’d like to roll in.

COMPLETE THE FORMSSTEP

4

IDENTIFICATION REQUIREMENTSFor the security of your account, the following identification must be provided to establish your BUSSQ Pension.

Acceptable documentsThe following documents may be used:

ONE ONLY of the following documents:

Drivers licence issued under State or Territory law, or

Passport

A national identity card issued for the purpose of identification.

ORALTERNATIVELY

One of the following documents:

Birth certificate or birth extract

Citizenship certificate issued by the Commonwealth

Pension card issued by Centrelink that entitles you to financial benefits.

+PLUS


Letter from Centrelink regarding a Government assistance payment

Notice issued by Commonwealth, State or Territory Government or local council within the past 12 months that contains your name and residential address.

For example:

ATO Notice of Assessment

Rates notice from local council.

EITHER

Certification of personal documentsAll copied pages of proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so.

The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, address and phone number, qualification (e.g. Justice of the Peace, Australia Post employee, etc), registration number (if applicable) and date.

The following people can certify copies of the originals as true and correct copies:

A Justice of the Peace

A permanent employee of Australia Post with five or more years of continuous service

A finance company officer with five or more years of continuous service (with one or more finance companies)

An officer with, or authorised representative of, a holder of an Australian Financial Services Licence, having five or more years continuous service with one or more licensees

A notary public officer

A police officer

A registrar or deputy registrar of a court

A person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia, as a legal practitioner

An Australian consular officer or an Australian diplomatic officer

A judge of a court

A magistrate, or

A Chief Executive Officer of a Commonwealth court.

YOU MUST PROVIDE CERTIFIED PROOF OF YOUR IDENTITY TO OPEN A BUSSQ PENSION ACCOUNT.

31

PLEASE NOTE

BUSSQ can certify documents for you

Justices of the Peace and Commissioners for Declarations (Cdecs) can witness and certify your ID or document copies as true and correct.

They operate regularly at various shopping centres, courts and other locations. To find your local Justices of the Peace or Cdec, visit your State Government’s website and search for Justice of the Peace.

If you are located near one of our offices, we can have one of our qualified team who are trained as Justice of the Peace certify your documents for you.

Simply call us on 1800 PENSION (1800 736 746) and we can help organise to have your documents certified.

EXAMPLEBob supplied a copy of his licence to be certified by a justice of the peace.


HOW MUCH YOUR PENSION IS TAXED (IF AT ALL) DEPENDS ON YOUR AGE

If you are 60 years of age or older

Your Pension will be paid tax free and you will not be required to put any of these amounts into your tax return.

If you are under age 60 and have reached your preservation age (see page 10)

Your Pension income stream will have two components:

A tax free component, and

A taxable component

All payments will be made pro-rata from these components and form part of your assessable income for that financial year and taxed at your marginal tax rate plus Medicare levy. The Trustee withholds PAYG amounts from your Pension payments.

In addition, BUSSQ will issue you with a Group Certificate after 30 June each year to assist you with your tax return.

TYPE OF PAYMENT TAX APPLIED

Pension payments Aged 60 or over Tax free

Preservation age to age 59 Taxed at your marginal tax rate plus Medicare levy and eligible for a 15% tax offset.

Under preservation age Taxed at your marginal tax rate plus Medicare levy.

Lump sum payments Lump sum payments are split into taxable and tax free components. This section deals with the taxable components.

Aged 60 or over Tax free and not assessable.

Preservation age to age 59 Tax free up to $195,000 for 2015/2016 financial year then taxed at 15% plus Medicare levy.

Under preservation age Taxed at 20% plus Medicare levy.

Investment returns Tax free while money remains invested.

Benefits transferred at death Tax charged dependent on nominated recipient.

PRESERVATION AGE TAXED COMPONENT TAX FREE COMPONENT

Age 60 or overTax free (and does not have to be included in your tax return).

Tax free

Preservation age to age 59 Marginal tax rate, 15% tax offset. Tax free

Under preservation age Marginal tax rate, no 15% tax offset. Tax free

TAX AND YOUR PENSION

TAX AT A GLANCE

33

EXAMPLE For illustrative purposes only.

Peter is age 58 and has $400,000 in his super account. This amount includes a tax free component of $100,000 and a taxable component of $300,000. Peter uses all of his super to open a Pension on 1 August.

The tax free percentage of Peter’s superannuation interest when he commences his Pension would be:

Tax freecomponent $100,000

Value of the $400,000Pension

The taxable percentage of Peter’s Pension payment would therefore be 75%.

Peter receives a BUSSQ Pension payment of $2,000 on 1 September.

The tax free component of this payment would be:

$2,000 x 25% = $500

The taxable component of Peter’s Pension payment would therefore be:

$1,500 ($2,000 - $500).

The taxable component will be taxed at Peter’s marginal tax rate plus Medicare levy, however, it will also attract a 15% tax offset thereby reducing the tax he has to pay.

= 25%=

15% TAX OFFSETYou may be entitled to a tax offset of up to 15% of the taxable amount of your Pension payments if you are:

Aged between your preservation age and 60 (once you turn 60, your Pension will be paid tax free)

Permanently incapacitated when you start your Pension, or

Receiving the Pension as a result of the death of another person.

PLEASE NOTE

A disability superannuation income stream also receives a 15% tax offset.

TAX ON ROLLOVERGenerally, you do not pay any upfront contribution tax on the money you transfer into your BUSSQ Pension account.

TAX ON INVESTMENT EARNINGSThe returns you earn from your investment in a BUSSQ Pension are tax free. This is one advantage your BUSSQ Pension has over other superannuation accounts, approved deposit funds or deferred annuities, which are taxed up to 15% on their investment returns. Additionally, if you were to invest your money outside the super environment, your interest earned would be taxed at your marginal tax rate.

A BUSSQ PENSION COULD BE REALLY TAX EFFECTIVE.

“NO ONE SHOULD PAY MORE

TAX THAN THEY HAVE TO”

CLIVE & LOLA ARBLASTER


TAX ON LUMP SUM WITHDRAWALSYou can request the withdrawal of a lump sum from your BUSSQ Pension at any time.

The tax that applies is as follows:

Age 60 or over – Tax free and not assessable

Preservation age to age 59 – 0% tax up to $195,000 (indexed, collective total amount) then taxed at 15% plus Medicare Levy; tax free component is always tax free

Under preservation age – Taxed at 20% plus Medicare levy (tax free component is always tax free)

As your decision to make a withdrawal from your BUSSQ Pension can affect how long your Pension payments will last, you should seek professional taxation advice before you make a withdrawal.

The lump sum you take out will also comprise of:

A tax free component, and

A taxable component.

Once again all payments will be made in proportion.

The tax free component of a benefit is generally made up of:

Contributions from your after tax income

The taxable component is the balance of your account.

This is only an overview of how benefits from a BUSSQ Pension will be taxed. We suggest that before you make a decision to use one of these products that you obtain qualified financial advice that relates to your personal circumstances.

BUSSQ can offer financial advice to both members and non-members about their Pension. Simply call 1800 PENSION (1800 736 746) and ask to speak with a Financial Planner.

TAX ON A DEATH BENEFIT PAID AS A REVERSIONARY PENSIONThe taxation of a death benefit paid as a reversionary Pension* (as opposed to a lump sum) will depend on the age of the deceased member and the reversionary Pension recipient. If the deceased member was aged 60 or over at the time of death, then payments to the reversionary beneficiary will be tax exempt.

If the deceased member was under age 60 at the time of death, the funds will be taxed at the reversionary beneficiary’s marginal tax rate (less any tax free amount and Pension offset) unless, or until, the reversionary beneficiary is aged 60 or over, in which case any residual funds becomes tax exempt.

A death benefit can be paid to a dependent child through regular payments from a Pension account. When the child reaches 18 years of age (or up to 25 if completing full time study), the remaining balance in the account will be paid to the child as a lump sum, tax free.

If the child is permanently disabled then payments can continue to be paid past age 25.

If a deceased member’s death benefit is left to a non-dependant, it will be paid as a lump sum.

*For information about reversionary Pensions see page 28.

TAX TREATMENT OF PENSION LUMP SUM WITHDRAWALS

AGE LUMP SUM PENSION

Age 60 or over Tax free. (Tax free component is always tax free) Tax free

Preservation age to age 59

Zero percent tax up to low rate cap of $195,000 (indexed). (Tax free component is always tax free)

Marginal tax rates and 15% tax offset. (Tax free component is always tax free).

Under preservation age

Taxable component is subject to 20% tax and 2% Medicare levy (Tax free component is tax free)

Marginal tax rates (no tax offset unless disabled in which case, offset may still apply. Tax free component is tax free).

ONCE YOU TURN 60 THE PAYMENTS YOU DRAW FROM YOUR BUSSQ PENSION ARE TAX FREE.

ANTI-DETRIMENTAnti-detriment payments are paid to the dependent beneficiaries of a deceased member of the fund. It is only payable where the death benefit is paid as a lump sum and it represents a refund of the 15% contribution tax levied against superannuation entitlements during their lifetime.

The amount payable is calculated using the ATO formula method.

BUSSQ arranges for the anti-detriment payment to be paid automatically whenever eligible.

35

TAX ON A DEATH BENEFIT PAID TO A DEPENDANT

TYPE OFDEATH BENEFIT AGE OF DECEASED AGE OF RECIPIENT TAXATION

Lump sum Any age Any age Tax free

Pension Age 60 and above Any age Tax free

Under 60 Age 60 and above Tax free

Under 60 Under 60 Taxable at marginal rates with 15% offset on taxable component. Tax free component is always tax free.

TAX ON A LUMP SUM DEATH BENEFITA lump sum death benefit payment will be tax free if paid to a person who is a dependant.

A dependant for these purposes is: A spouse (or former spouse)

A child under 18 years of age

A person with whom you had an interdependency relationship just before you died, or

Any other person who was totally dependent on you just before you died.

If the lump sum death benefit is paid to a person who is a non-dependant, the taxable component will be taxed at 15%.

TAX FILE NUMBER (TFN) INFORMATIONBUSSQ is authorised to ask for your Tax File Number under the Superannuation Industry (Supervision) Act 1993 (SIS). Advising BUSSQ of your Tax File Number is voluntary and it is not an offence if you choose not to provide it. BUSSQ is required by law to take the necessary steps to properly safeguard your TFN.

TAX ON A DEATH BENEFIT PAID TO A NON-DEPENDANT

AGE OF DECEASED DEATH BENEFIT AGE OF RECIPIENT TAXATION

Any age Lump sum Any ageTaxable component is subject to 15% tax.

Any age Pension Any age Not available

PLEASE NOTE

If you choose not to provide your TFN to BUSSQ, payments made to you will be subject to PAYG tax at the highest marginal rate, plus the Medicare levy. This may be recovered after lodgement of your tax return.

BUSSQ’s intention is to use your TFN only for approved legislative superannuation purposes.

Approved legislative purposes include:

To advise the Tax Office for taxation purposes

To advise the Tax Office for the purpose of the Lost Member Register in the event of you becoming lost

To administer PAYG taxation on income (if under 60)

To allow your TFN to be passed on to another regulated fund or Retirement Savings Account, if your benefit is transferred or rolled over, unless BUSSQ receives written notification stating otherwise

To advise the relevant State authority if we are paying unclaimed money

Note: These lawful purposes may change as a result of future legislation.


FEES AND OTHER COSTS

BUSSQ FEES AND OTHER COSTSThis document shows fees and other costs that you may be charged by BUSSQ. These fees and costs may be deducted from your account balance, from the returns on your investment or from the fund assets as a whole.

Taxes are set out in another part of this document (see pages 32 to 35 for more information). You should read all the information about fees and costs because it is important to understand their impact on your investment.

CONSUMER ADVICE WARNING

Did you know?Small differences in both investment performances and fees and costs can have a substantial impact on your long term results. For example, total annual fees and costs of 2% of your fund balances rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs.

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

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

BUSSQ PENSION MANAGEMENT COSTSBUSSQ does not charge a fee to make an initial roll over to your Pension account. Management costs are incurred on BUSSQ by its service providers (such as administrators and investment managers) and cannot be negotiated individually by BUSSQ members.

ADDITIONAL EXPLANATION OF FEES AND COSTSBUSSQ may be charged a performance fee by underlying investment managers. A performance fee is payable when an investment manager achieves investment performance in excess of pre-agreed benchmarks. This fee will vary depending on the investment option chosen and will change year to year. During the financial year 2014/2015, this fee was between 0.00% and 0.07% depending on your chosen option. This fee is included in the management costs shown in the table and is not an extra cost to members.

Information regarding tax can be found on pages 32 to 35.

The Trustee of BUSSQ reserves the right to increase fees, however, you will be given 30 days notice. As BUSSQ returns profits to members, any fee increase will only be required to cover the costs of running the fund.

No commissions are payable by BUSSQ to any Planner for giving advice regarding BUSSQ products.

The fees and charges may change due to changes in:

The underlying investment managers, or

Legislation, or

Management expenses.

The fees and charges include GST payable by BUSSQ and GST attributable investment costs.

Management costs shown have been calculated using the 2014/2015 unaudited accounts.

37

FEES TABLE

TYPE OF FEE AMOUNT HOW AND WHEN PAID

FEES WHEN YOUR MONEY MOVES IN OR OUT OF BUSSQ

Investment Fee Nil N/A

Administration Fee NilBUSSQ does not charge administration fees on our Transition To Retirement or Retirement Pension products.

Buy-Sell Spread Nil BUSSQ does not charge a buy-sell fee.

Switching Fee Nil BUSSQ does not charge a switching fee

Exit Fee

$30 for a partial lump sum withdrawal, and $100 to close your account

A fee of $30 applies to every partial lump sum withdrawal you make. A fee of $100 applies if you close your Pension account.

Advice Fee VariesRefer to Financial Services Guide on page 42.

Other Fees and CostsRefer to Fees and Other Costs section

Refer to Fees and Other Costs section

Indirect Cost Ratio - These areongoing fees and costs for managingBUSSQ’s investments and administeringyour account. The amount you pay forspecific investment options is shown on page 38

Between 0.21% and1.44% per annum.

Deducted from BUSSQ’s earnings before BUSSQ declares a unit price.

BUSSQ’S LOW FEES MEANS MORE OF YOUR MONEY IS WORKING FOR YOU.


EXAMPLE OF ANNUAL FEES AND COSTSThis table gives an example of how the fees and costs in the Balanced Growth option can affect your superannuation over a one year period. You should use this table to compare this product with other Pension products.

BALANCED GROWTH AMOUNT HOW AND WHEN

YOU PAY

Contribution fees

Nil For every $5,000 that you put in, you will be charged $0.00.

PLUS

Management costs

0.72% And for every $50,000 you have in BUSSQ, you will be charged $360 each year.

EQUALS

Costs of fund If you had a balance of $50,000 throughout the year, you would be charged a total of $360 per year.

INVESTMENT OPTIONS

PRE-MIXED

Defensive 0.64%

Balanced Growth 0.72%

High Growth 0.75%

SINGLE ASSET CLASS

Cash 0.21%

Diversified Fixed Interest 0.45%

Australian Shares 0.54%

Australian (Larger Companies) Shares 0.48%

Australian (Small Companies) Shares 0.80%

All Shares 0.84%

International Shares 1.14%

International (Emerging Markets) Shares 1.44%

CommissionsNo commissions are payable by BUSSQ to any Financial Planner for advice to use any product in the BUSSQ portfolio.

Additions or alterations to fees and chargesThe Trustee has the power to alter, increase or introduce new charges at its discretion. You will be advised of the charges before they are altered or introduced.

BUSSQ is unable to negotiate lower fees and management costs as described on page 36.

INVESTMENT COSTSThe management fees applicable to each of BUSSQ’s investment options for the year ending 30 June 2015 are as follows (these fees include GST attributable to the investment).

It’s important to compare feesWhen shopping around for an account based Pension, many people compare investment returns, but it is just as important to compare all the fees and charges of the different funds in which you are interested. This exercise can be difficult, especially when fees are charged in different ways and particularly when they are not clear or explained properly, or are misleading. A difference of 1% per annum can have a substantial impact on your account balance.

Some funds charge members entry fees and withdrawal fees based on a percentage of the account balance. So, be discerning and choose carefully.

BUSSQ can assist you to compare fees of various account based Pensions.

Simply call 1800 PENSION (1800 736 746) and ask to speak with one of our Financial Planners.

BUSSQ IS AN INDUSTRY SUPER FUND, WHERE ALL PROFIT GO TO MEMBERS.

39

HOW EARNINGS ARE APPLIED TO YOUR ACCOUNTWhen you invest in a BUSSQ Pension, you buy a number of units in the investment option(s) of your choice. The number of units you receive depends on the value of the units (the unit price) at the date they were bought.

The value of your investment from then on depends on the number of units that you have and the value of those units, much like owning shares.


If you have $150,000 to invest in the Balanced Growth option on 1 July when units in the option are valued at $1, you will start your Pension with:

Initial investment $150,000

Value of units at 1 July $1

Number of units bought 150,000

If on 1 August the unit price increases to $1.01 then you will have:

Initial investment $150,000

Value of a unit at 1 August $1.01

Number of units owned 150,000

Value of units owned at 1 August $151,500

THE VALUE OF UNITSThe nature of investment markets means that the value of your units can rise and fall. The unit price reflects the performance of the investments in the option(s) you have chosen, after any investment charges have been deducted. This is why it is important for you to choose an investment option that you are comfortable with, as different options have different levels of volatility.

WITHDRAWALS FROM YOUR PENSION ACCOUNTWhen payments are made from your BUSSQ Pension account, you are really withdrawing a number of units.

MANAGING YOUR MONEY

DETERMINING THE UNIT VALUEThe unit value is determined by taking the value of the relevant investment option and deducting the investment management charges. The unit price is currently calculated weekly. However, in future this price may be calculated more frequently and you will be advised beforehand.

In times of high volatility, the Trustee reserves the right to calculate units more frequently or suspend the calculation of units.

ONLINE ACCOUNTS AND STATEMENTS

Online accounts – If you’re a BUSSQ member you can access your account details 24/7 through the MemberAccess secure online portal at bussq.com.au. Once you’ve registered for MemberAccess, you can view and change your Pension membership details, view your account balance and recent withdrawals, view and switch investment options, view your beneficiary details and more.

Statements – As a member of BUSSQ you will receive bi-annual Member Statements showing your account details as at 30 June and 31 December each year.

You can also get information about your account by phoning BUSSQ on 1800 PENSION (1800 736 746) or emailing [email protected].

RESERVING POLICYAs required by legislation, the Trustee maintains an operational financial risk reserve of 0.35%. The Trustee also maintains an administrative reserve with its optimum level around 0.15% of assets. The purpose of the reserve is to fund contingency expenses, such as taxation adjustments and other calculation variances. As a result, the administrative reserve can vary from the optimum level.


Withdrawal $5,000

Number of units withdrawn 4,950.5 at $1.01 per unit

Number of units remaining 145,049.5

Value of your 145,049.5 x $1.01 remaining units =$146,500


PURPOSE OF BUSSQBUSSQ is an industry super fund established in Queensland in 1985 to service people in the building, construction and civil industries.

BUSSQ’s focus is providing members the means to save for a financially secure lifestyle in retirement.

The Fund does this through consistently delivering members secure investments and solid returns throughout all BUSSQ industry superannuation and Pension products.

BUSSQ also offers members personalised and professional service and advice to assist them make the right decisions about their super.

As a public fund, anyone can join BUSSQ.

MANAGING BUSSQBUSS(Queensland) Pty Ltd is the Trustee of BUSSQ and the issuer of this PDS. Its’ Board is made up of an equal number of employer and member representative Directors who are nominated by our sponsoring employer and member organisations:

Master Builders Queensland

Construction Forestry Mining Energy Union (CFMEU).

The Trustee is responsible for ensuring BUSSQ is managed in the best interests of all members and their dependants. The Trustee also appoints various professional organisations to assist it with running BUSSQ.

A Trust Deed governs the operation of BUSSQ and if there are any inconsistencies between the terms of BUSSQ’s Trust Deed and this PDS, the terms of the Trust Deed will prevail. From time to time the Trust Deed may need to be amended. If it is, you will be notified of any changes that may adversely affect your benefits.

You may inspect a copy of the Trust Deed on request.

BUSSQ PRIVACY POLICY STATEMENTBUSSQ respects your privacy. Protecting your personal information is important to us, but now the law requires your personal information to be protected.

The Commonwealth Privacy Act, in accordance with Australian Privacy Principles, determines how we must handle personal information.

To obtain a copy of BUSSQ’s Privacy Statement go to bussq.com.au or call 1800 PENSION (1800 736 746).

ENQUIRIES AND COMPLAINTSIf you are not happy with any aspect of your contact with BUSSQ and wish to make a formal complaint, you should write to:

The Enquiries & Complaints Officer BUSSQ GPO Box 2775 Brisbane QLD 4001

The Enquiries & Complaints Officer will investigate your complaint on your behalf and write to inform you of the results of that investigation within 90 days.

If you are not satisfied with BUSSQ’s handling of your complaint or its resolution, you may contact the Superannuation Complaints Tribunal (the Tribunal).

The Tribunal is an independent body set up by the Federal Government to assist members or their beneficiaries to resolve certain superannuation complaints. It is a free service. The Tribunal may be able to help resolve your complaint, but only after you have taken the step of writing to the BUSSQ Enquiries & Complaints Officer.

If the Tribunal accepts your complaint it will try to resolve the matter through conciliation by helping bring both sides to a mutual agreement. If this is unsuccessful, the complaint will be formally referred to the Tribunal for a determination.

For the cost of a local call you can contact the Tribunal on 1300 884 114 to find out if it can handle your complaint.

The address for correspondence is:

Superannuation Complaints Tribunal Locked Bag 3060 Melbourne Vic 3001

OTHER INFORMATION

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FAMILY LAWUnder Family Law legislation, if your marriage or defacto relationship breaks down, your BUSSQ Pension account can be subject to splitting between you and your spouse or defacto.

The law is not retrospective, which means if you finalised your property settlement prior to 28 December 2002, your Pension account cannot be split.

Family Law affects your Pension in two key areas:

Request for information – You, your spouse or your fiancé entering into a pre-nuptial agreement are able to request certain information about your Pension account.

Splitting super – The parties are able to split your Pension account through an agreement or Court Order.

Superannuation agreement – You can enter into a superannuation agreement with your spouse or de facto (opposite sex or same sex). This can be made before during or after a marriage or defacto relationship. A superannuation agreement is binding upon the Trustees as long as it complies with legislation at that time.

DO YOU WANT TO FIND OUT MORE?Information contained within this PDS may change from time to time. BUSSQ will advise you of material changes or significant events within timeframes prescribed by the legislation via direct communications or the Annual Report to Members, BUSSQ News and BUSSQ’s website. Unless the changed information is materially adverse to members, we may not always update or replace this document to reflect the changed information.

Any updated information may be published on BUSSQ’s website at bussq.com.au.

Paper copies of any updated material (and any other existing documentation) are also available without charge on request by contacting BUSSQ on:

PHONE 1800 PENSION (1800 736 746)

MAIL BUSSQ GPO Box 2775 Brisbane QLD 4001


MAKE SURE WE HAVE YOUR DETAILSIf you have changed your address, or if you are about to, don’t forget to let us know. This way, you will be sure to continue to receive your important Pension statements and other valuable information.

ADVISERS AND SERVICE PROVIDERSMany of the matters associated with running BUSSQ are complex. Therefore, the following service providers have been appointed to assist with the various operations of BUSSQ.

Administrator: Australian Administration Services (AAS)

Auditor: Crowe Howarth

Tax Agent: Ernst & Young

Insurer: OnePath

Investment adviser: Frontier Investment Consulting

Lawyer: Corrs Chambers Westgarth

Financial advice to members: BUSSQ Financial Planning

Custodian: BNP Paribas Securities Services

COOLING OFF PERIOD

After you apply to take out a BUSSQ Pension you have 14 days from the date on which BUSSQ sends you confirmation of your membership in which to cancel your membership.

The amount of refund you receive may be adjusted to take into account movements in investment values during the period between joining and cancelling membership. You will also be liable for any Government taxes and charges paid by BUSSQ on your behalf. If any lump sum contribution you make to the Pension account was transferred from another super fund and was subject to preservation requirements, it must be transferred to another super fund of your choice as it cannot be paid out to you in cash.


FINANCIAL SERVICES GUIDE

WHAT YOU SHOULD KNOW ABOUT THIS GUIDEThis Combined Financial Services Guide (FSG) has been prepared, authorised and issued by BUSS (Queensland) Pty Ltd (ABN 15 065 081 281), (AFSL 237860) (BUSSQ) (ABN 85 571 332 201) and by Pacific Custodians Pty Limited (ABN 66 009 682 866, AFSL 295142) (Pacific Custodians). Australian Administration Services Pty Limited (ABN 62 003 429 114) (AAS) is a Corporate Authorised Representative of Pacific Custodians (Authorised Representative Number 307946). The distribution of this FSG by AAS has been authorised by Pacific Custodians.

The purpose of this FSG is to help you decide whether to use the services offered by BUSSQ, and/or AAS (as providing entity on behalf of its authorising Licensee, Pacific Custodians). This FSG will provide you with information about BUSSQ and AAS’s services, how BUSSQ and AAS’s representatives are remunerated in relation to the financial services offered and how complaints against BUSSQ and AAS are dealt with.

As a representative of Pacific Custodians, AAS is authorised to:

1. Provide general financial product advice for the following classes of financial products:

1.1 Superannuation, and

1.2 Non-cash payment products.

2. Deal in a financial product by:

2.1 issuing, applying for, acquiring, varying, or disposing of a financial product in respect of the following classes of financial products:

2.2.1 Superannuation, and

2.2.2 Non-cash payment products.

BUSSQ is authorised to:

1. Provide financial product advice for the following classes of financial products:

i Superannuation, and

2. Deal in a financial product by:

i Issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products: a) deposit and payment products limited to non-cash payments products, and b) superannuation.

The financial services provided by BUSSQ may include personal or general advice on:

Rolling over superannuation benefits

Salary sacrifice

Voluntary contributions

Investment choice

Insurance benefits

Account based Pension

Spouse contributions

Superannuation legislation

Tax on superannuation, and

Other superannuation issues.

Before making any decisions to acquire a BUSSQ product, you should read this Product Disclosure Statement (PDS) and/or obtain professional financial advice. This PDS provides information about the benefits, including fees and risks, associated with that product.

WHAT IS GENERAL ADVICE?General advice is advice that does not take into account your individual objectives, financial situation or needs and as such the advice may not be appropriate for your circumstances. You should assess your own financial needs and/or obtain advice from a qualified professional before acting on general advice.

General advice is provided as part of your BUSSQ membership fee. There is no additional cost to you for this service.

WHAT IS PERSONAL ADVICE?Personal advice is advice that does take into account your individual objectives, financial situation and future needs. Whenever BUSSQ provides you with Personal advice, BUSSQ will provide you with a Statement of Advice (SOA), also known as a financial plan.

BUSSQ will always tell you about:

Any fees that will be paid in dollar amounts, in relation to a product or strategy that is recommended.

Any limitations on the advice BUSSQ can give you.

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When a BUSSQ representative recommends a particular financial product, a PDS will always be provided to allow you to make an informed decision.

Personal advice may be either straightforward advice or complex advice.

WHAT IS THE COST? AAS does not receive specific remuneration relating to the services offered that have been outlined in this guide. AAS is remunerated by BUSSQ for the contracted administration service that it provides to the fund, as a whole. BUSSQ levies fees and charges on individual members to cover the operating costs of the fund (including administration costs). For information relating to the administration fees levied by BUSSQ, please refer to the relevant Product Disclosure Statement (PDS).

AAS does not pay or receive commissions. In some circumstances, employees of AAS can receive performance based bonuses (paid by AAS). Apart from this, no additional remuneration is paid, or benefit provided to:

The employer of the providing entity

The authorising licensee

An employee or Director of the authorising licensee (other than normal wages and salary of employees)

Associate(s) of any of the above, or

Any other person.

Where required by legislation, BUSSQ provides a fee for service approach when providing personal financial advice. This ensures you only pay for the advice that you need.

The cost of providing straightforward personal advice is included in the BUSSQ administration fees. There are no additional fees or charges for this service. As BUSSQ is an industry super fund, all profits are returned to members and not to shareholders. Straightforward personal advice is single issue advice such as:

Choosing insurance

Making contributions

Choosing investments

All other personal advice is deemed to be complex advice. The cost of complex advice has to be paid by the member as, by law, it cannot be spread across the whole member base. Where advice other than general advice is provided, the cost of this advice will be at an hourly rate of $150 including GST. The range of fees for advice we provide will usually range between $150 and $750 including GST.

We will discuss and agree with you the cost of the advice before any it is provided.

All representatives are salaried employees and are not paid any commissions for providing services to you.

Neither BUSSQ Directors nor our representatives receive hard or soft dollar bonuses as a direct result of providing advice to you.

BUSSQ Directors do not receive commissions or bonuses as a result of the services offered to you by our representatives. Any surplus generated from fees or charges are retained by the Fund to be used for the benefit of members.

BUSSQ does not pay any commissions to any third party who may refer you to BUSSQ.

MEMBER COMPENSATION ARRANGEMENTSPacific Custodians and BUSSQ each have in place adequate arrangements, including professional indemnity (PI) insurance, to compensate fund members or their beneficiaries for loss or damage suffered as a result of breaches of any relevant legislative obligations by Pacific Custodians, BUSSQ, or their authorised representatives. This arrangement satisfies the requirements of section 912B of the Corporations Act 2001 (Cth).

HOW IS MY INFORMATION PROTECTED?The Fund respects the privacy of its members. BUSSQ only collects information that is necessary to manage your account, meet any legislative requirements and provide you with opportunities available to you as a member, or as otherwise permitted by law. The BUSSQ Privacy Policy Statement is available at bussq.com.au.


WHAT RELATIONSHIPS OR ASSOCIATIONS MAY INFLUENCE THE ADVICE GIVEN TO ME?AAS representatives may be members of the BUSSQ Fund.

BUSSQ Directors and representatives may be members of the BUSSQ Fund. The BUSSQ Fund is an investor in Members Equity.

Master Builders Queensland Insurance Services, which is owned by Master Builders Queensland, arrange certain insurances on behalf of BUSSQ.

BUSSQ uses OnePath (a company of ANZ) for the provision of Group Life Cover.

The Superannuation Clearing House Pty Limited (ABN 15086721) is a related body corporate of AAS and Pacific Custodians, who are members of the Link Group of companies. For more information about the Link Group, please visit:

http://www.linkmarketservices.com.au/corporate/AboutUs/About-Us.html

BUSSQ has no association or relationship with any other product issuer and does not receive any benefit from any relationship that could influence the providing of advice.

BUSSQ Directors may hold Directorships in funds in which BUSSQ invests.

WHAT IF I AM NOT HAPPY WITH THE ADVICE GIVEN?Should you have a complaint about AAS, you can telephone, write by post, fax or email to AAS or Pacific Custodians (to the attention of the Complaints Officer), detailing your complaint. AAS will consider your complaint and will usually respond within 30 days. Pacific Custodians and AAS will make all reasonable efforts to resolve your complaint quickly and fairly. If you are not satisfied with the way your complaint is handled, or with the resolution, you may be able to lodge a complaint with the Financial Ombudsman Service Limited (FOS) ABN 67 131 124 448. FOS is an independent body set up to assist consumers in the resolution of complaints relating to financial services. FOS may be able to assist you to resolve your complaint but will only become involved after you have first made use of AAS’s own complaints handling process.

MAIL Financial Ombudsman Service Limited Level 13, 31 Queen Street Melbourne Vic 3000

POSTAL GPO Box 3, Melbourne Vic 3001

PHONE 1300 780 808 or 03 9613 7366

FAX 03 9613 6399


WEB fos.org.au

Should you have a complaint about BUSSQ or one of its representatives, please contact the BUSSQ complaints officer in writing. If you are not satisfied with our response, you can contact the Superannuation Complaints Tribunal (SCT). The SCT may be able to assist you to resolve your complaint but will only become involved after you have first made use of BUSSQ’s own complaints handling process.

MAIL Superannuation Complaints Tribunal Locked Bag 3060 Melbourne VIC 3001

PHONE 1300 884 114


WEB www.sct.gov.au

WHO IS BUSSQ?BUSSQ is an industry superannuation fund where profits are returned to members.

The Fund is a regulated fund under Commonwealth legislation and is able to obtain taxation advantages and can accept Superannuation Guarantee (SG) Contributions.

The Fund holds an Australian Financial Services Licence which allows the Fund to provide Pension and superannuation advice to retail clients.

BUSS (Queensland) offers these products:

Transition to Retirement Pensions

Retirement Pensions

Term Allocated Pensions

A superannuation accumulation fund for employees

A superannuation accumulated fund for the self-employed, and

A choice of a MySuper or Premium Choice account which offer different levels of customisation and flexibility.

45

BUSSQ also provides advice on the following under the Building Super Pty Ltd ASFL (450139) Trading as BUSSQ Financial Planning:

Deposit and Payment Products - Basic Deposit

Deposit and Payment Products - Non-cash Payment

Government Debentures, Stocks or Bonds

Investment Life Insurance Products

Life Risk Insurance Products

Managed Investment Schemes, including Investor Directed Portfolio Services

Retirement Savings Account Products

Securities

Superannuation

WHO IS RESPONSIBLE FOR THE ADVICE GIVEN TO ME?Pacific Custodians is responsible for advice given to you by AAS and BUSS (Queensland) Pty Ltd is responsible for the advice given to you by BUSSQ. You may be provided with written material and access to the BUSSQ website. These may contain general advice and BUSS (Queensland) Pty Ltd is responsible for that advice. Written communication, including e-mails, may be provided by either AAS or BUSSQ and the providing entity will be responsible for the advice given. All contact with the BUSSQ telephone contact centre will be with an AAS representative. If you are referred for personal advice this will be provided by a BUSSQ representative. The representative assisting you is a salaried employee who is authorised to give you general or personal advice regarding BUSSQ and superannuation in general. The representative will inform you under which category they operate in terms of their advice status.

WHO CAN JOIN BUSSQ?Anyone can join BUSSQ. This includes on site and off site workers, clerical workers, apprentices, professionals, spouses, family and friends, and working Directors. You also don’t have to be connected to the building, construction or civil industries to join the fund.

WHAT IF I NEED MORE INFORMATION?Should you require information that takes into account your personal circumstances, contact the BUSSQ office. If personal advice is given, you will receive an updated Financial Services Guide, together with a Statement of Advice (SOA) setting out that advice and the reasons leading to that advice.

Before or on joining the Fund you will be provided with a Product Disclosure Statement (PDS) which will outline the product and the relevant fees.

HOW DO I CONTACT AAS?WEB aas.com.au


PHONE 02 8571 5000

FAX 02 8571 5555

VISIT 1A Homebush Bay Drive, Rhodes NSW 2138

HOW DO I CONTACT PACIFIC CUSTODIANS? PHONE 02 8280 7100

FAX 02 9287 0302

MAIL Locked Bag A14 Sydney NSW 2000

VISIT Level 12, 680 George Street, Sydney NSW 2000

HOW DO I CONTACT BUSSQ?WEB bussq.com.au


PHONE 1800 PENSION (1800 736 746)

FAX (07) 3217 5212

MAIL BUSSQ PO Box 1526 Milton QLD 4064

VISIT BUSSQ has offices in various locations. To find your nearest office go to bussq.com.au

Australian Administration Services Pty Limited (AAS) ABN 62 003 429 114

Corporate Authorised Representative of Pacific Custodians Pty Limited CAR 307946

Authorising Licensee Pacific Custodians Pty Limited (Pacific Custodians) ABN 66 009 682 866 AFS License 295 142

BUSS (Queensland) Pty Ltd ABN 15 065 081 281; AFS License 237860

BUSSQ ABN 85 571 332 201


STEP ONE - Do your homework

Get financial advice – If there is anything in this document you don’t understand or if you’re unsure of your best course of action, we’re happy to help. Just call us on 1800 PENSION (1800 736 746) to arrange an appointment with a Financial Planner (see page 47 for details).

Read this PDS – to get a better understanding of BUSSQ’s Pension options.

Choose your BUSSQ Pension – Choose between a Transition to Retirement (TTR) Pension or a Retirement Pension (see page 6 to 8). If you need help selecting the right one for you, contact BUSSQ.

STEP TWO - Get your money in order

Look for lost super – Before opening a BUSSQ Pension account, it’s a good idea to see if you have any lost super that you’ve accumulated over your working life. We can help you search for it; just TEXT your full name and date of birth to 0429 558 006 or email [email protected].

Consolidate your super before you open your BUSSQ Pension account – By combining your super into one account, it will assist your transition into your BUSSQ Pension. It’s important to remember that due to Government regulations, once you transfer to your BUSSQ Pension account, you will be unable to contribute additional funds.

If you have multiple super accounts, we can help combine them into the one account. Just call us or log onto MemberAccess services at bussq.com.au.

Decide on how much you want to transfer to your BUSSQ Pension account– As mentioned, once you open your BUSSQ Pension account, you cannot make further contributions into it so it’s a good idea to work out how much money you’d like to transfer before opening your account.

If you are opening a Transition to Retirement Pension, you may not want to transfer your entire super balance so you can keep your current insurance cover (see page 12 or call us for more information) and to receive future contributions.

STEP THREE - Make your decision

Decide on how much money you will need and how frequently you would like your BUSSQ Pension payments made - See pages 13 to 16.

Work through the investment section of this PDS to determine the right investment option for you - You can indicate your preferred options in the Investment Choice section of the Pension Application form. Information on investment choices can be found on pages 17 to 27. If you would like assistance, one of our friendly Financial Planners can help.

Choose your beneficiaries (see pages 28 and 29)

STEP FOUR - Make your decision

Complete, sign and return these forms:

Pension Application form

Rollover Your Super form if you are rolling money into your BUSSQ account from other super funds. Alternatively, you can also do this online though MemberAccess.

Tax File Number Declaration form (only required if you are under age 60).

Residency declaration.

Please provide copies of the following:

Driver’s licence or passport (must be certified by an authorised person, see page 31 for a list of who can authorise documents and how we can help), and

Proof of account details of the bank you have nominated for receipt of your Pension payments (only the top section of your bank statement that contains your BSB and account number needs to be provided).

YOU DON’T HAVE TO MAKE THESE DECISIONS ALONE.BUSSQ offers you financial advice about your super. If you would like more information or help with any of the paperwork call us on 1800 PENSION (1800 736 746). More information about our financial advice services can be found on page 47.

CHECKLIST

47Page 1 of 6

BUSS(Queensland) Pty Ltd ABN 15 065 081 281 | AFS Licence 237860 | RSE L0002158 | Registration Number R1055870CALL US 1800 PENSION (1800 736 746) | WEB www.bussq.com.au | EMAIL [email protected] | GPO Box 2775 Brisbane QLD 4001

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Don’t forget you can also join online at bussq.com.au Please complete and sign this form and return to: BUSSQ GPO Box 2775, Brisbane Qld 4001

JOIN BUSSQ PENSION CHOICE

BUSS(Queensland) Pty Ltd ABN 15 065 081 281 BUSSQ ABN 85 571 332 201 | AFS Licence 237860 | RSE L0002158 | Registration Number R1055870CALL US 1800 PENSION (1800 736 746) | WEB bussq.com.au | EMAIL [email protected] | GPO Box 2775 Brisbane QLD 4001

Page 1 of 5

1 TYPE OF PENSION REQUIRED (please ✓ one option)

■ TRANSITION TO RETIREMENT PENSION ■ RETIREMENT PENSION

2 PERSONAL DETAILS

BUSSQ super account/member number

Mr/Mrs/Ms/Miss Given names Surname

Date of birth (dd/mm/yyyy) Daytime contact number Mobile

BUSSQ uses your email address to provide important updates about your Pension. We won’t pass on your information to anyone and you can opt out of email communication at any time.

Email

Street address Suburb / Town State Postcode

3 EMPLOYMENT STATUS (please ✓ one option)

■ Employed ■ Over age 55 and permanently retired ■ Over age 60 and have ceased employment

■ Over age 65 (you may still be employed) ■ Unrestricted non-preserved withdrawal

4 YOUR ROLLOVER DETAILS (please ✓ one option)

■ Whole amount ■ Partial amount (must be at least $25,000) Date ceased work / /

Amount to be transferred from your BUSSQ superannuation account. (A minimum of $2,500 must be retained if you elect a partial transfer.) $ ■,■■■,■■■ or all bar $2,500 ■Amount from your BUSSQ superannuation account that you wish to receive as a lump sum (if any) before your Pension is set up. $ ■,■■■,■■■

5 TAX DEDUCTIONS

If you intend to claim a tax deduction for contributions made to your BUSSQ superannuation account, please show amount here. $ ■,■■■,■■■

6 YOUR FINANCIAL INSTITUTION DETAILS

Please provide your bank, building society or credit union account details below and attach a copy of a current statement to receive Pension payments electronically.

Financial institution name Name in which the account is held

BSB number Account number

You will also need to lodge an Intent to claim a tax deduction form.STOP

OFFICE USE ONLY

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7 YOUR PENSION PAYMENTS

I wish to receive my Pension payments (please ✓ which option you would prefer).

■ Twice monthly ■ Monthly ■ Quarterly ■ Half yearly ■ Yearly

Date first payment to be made* (dd/mm/yyyy)

■■ ■■ ■■■■ OR ■ Next available

* Under current legislation if you commence your account before 1 June your first Pension payment must be paid before 30 June of that financial year. If you commence on or after 1 June, you can defer the first payment up to June of the following financial year.

■ If started on or after 1 June, tick here if you want a payment in June.

The amount I wish to receive is (please ✓ which option you prefer).


■ Minimum ■ Maximum ■ An amount between your minimum and maximum range $ ■,■■■,■■■ per payment.

RETIREMENT PENSION

■ Minimum ■ An amount above the minimum $ ■,■■■,■■■ per payment.

Or if you have not requested monthly payments, specify the payments you wish to receive in the box below.

8 YOUR INVESTMENT CHOICE

I would like my BUSSQ Pension account invested in the following investment option(s):

■ Blended Growth Strategy

Cash ■■ %

Balanced Growth ■■ %

Pension payments will be drawn from the Cash option first.

Pre-mixed options (Percentage)

■ Defensive ■■■ %

■ Balanced Growth ■■■ %

■ High Growth ■■■ %

Single asset class options

■ Cash ■■■ %

■ Diversified Fixed Interest ■■■ %

■ Australian Shares ■■■ %

■ Aust. (Larger Companies) Shares ■■■ %

■ Aust. (Small Companies) Shares ■■■ %

■ All Shares (50/50) ■■■ %

■ International Shares ■■■ %

■ International (Emerging Markets) Shares ■■■ %

TOTAL MUST EQUAL 100%

The amounts must be whole pe rcentages only e.g. 10%, 27% etc.

I wish to have my Pension payments and fees deducted from the investment option.

If you require more information on the BUSSQ Pension Choice investment options, please refer to pages 19 to 29 of the Product Disclosure Statement, or call BUSSQ on 1800 PENSION (1800 736 746).

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49Page 2 of 5

7 YOUR PENSION PAYMENTS

I wish to receive my Pension payments (please ✓ which option you would prefer).

■ Twice monthly ■ Monthly ■ Quarterly ■ Half yearly ■ Yearly

Date first payment to be made* (dd/mm/yyyy)

■■ ■■ ■■■■ OR ■ Next available

* Under current legislation if you commence your account before 1 June your first Pension payment must be paid before 30 June of that financial year. If you commence on or after 1 June, you can defer the first payment up to June of the following financial year.

■ If started on or after 1 June, tick here if you want a payment in June.

The amount I wish to receive is (please ✓ which option you prefer).


■ Minimum ■ Maximum ■ An amount between your minimum and maximum range $ ■,■■■,■■■ per payment.

RETIREMENT PENSION

■ Minimum ■ An amount above the minimum $ ■,■■■,■■■ per payment.

Or if you have not requested monthly payments, specify the payments you wish to receive in the box below.

8 YOUR INVESTMENT CHOICE

I would like my BUSSQ Pension account invested in the following investment option(s):

■ Blended Growth Strategy

Cash ■■ %

Balanced Growth ■■ %

Pension payments will be drawn from the Cash option first.

Pre-mixed options (Percentage)

■ Defensive ■■■ %

■ Balanced Growth ■■■ %

■ High Growth ■■■ %

Single asset class options

■ Cash ■■■ %

■ Diversified Fixed Interest ■■■ %

■ Australian Shares ■■■ %

■ Aust. (Larger Companies) Shares ■■■ %

■ Aust. (Small Companies) Shares ■■■ %

■ All Shares (50/50) ■■■ %

■ International Shares ■■■ %

■ International (Emerging Markets) Shares ■■■ %

TOTAL MUST EQUAL 100%

The amounts must be whole pe rcentages only e.g. 10%, 27% etc.

I wish to have my Pension payments and fees deducted from the investment option.

If you require more information on the BUSSQ Pension Choice investment options, please refer to pages 19 to 29 of the Product Disclosure Statement, or call BUSSQ on 1800 PENSION (1800 736 746).

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BA/MEMAPP 160.6 09/15 ISS10Page 3 of 5

9 WHO WILL GET YOUR BUSSQ PENSION IF YOU DIE?

In the event of your death, before your account balance runs out, you have two options as to how your Pension will be paid.

■ Option 1 - A reversionary Pension paid to your nominated dependant.

(The person who will continue to receive your Pension upon your death - see page 30 of the Pension Choice PDS for details on a reversionary beneficiary.)

Person’s full name Relationship to you

Date of birth (dd/mm/yyyy) Phone


Email

You must complete all fields for this to be processed.STOP

■ Option 2 - A lump sum paid to your nominated beneficiary/ies.

In the event of your death, please nominate to whom you would prefer your benefits to be paid.You can nominate one or more preferred beneficiaries. Attach a list if space is not sufficient.

First person’s full name Relationship to you



Second person’s full name Relationship to you



Third person’s full name Relationship to you



A death benefit is payable to your dependants and/or your legal personal representative or, in limited circumstances, to another person. The final decision rests with the Trustee. More information is available at bussq.com.au

BINDING NOMINATIONS - BUSSQ accepts binding nominations - please complete the Binding Death Benefit Nomination form if you want this option.

10 RESIDENCY DECLARATION

Temporary residents are not eligible to start a Pension. For more information call us on 1800 PENSION (1800 736 746).

I declare that: (Please tick the box that applies to you)

■ I am an Australian citizen, New Zealand citizen or permanent resident of Australia, or

■ I hold a Subclass 405 (Investor Retirement) or Subclass 410 (Retirement) visa.

* A temporary resident is someone who holds a temporary visa as described in the Superannuation Industry (Supervision) Regulations 1994 or in the Migration Act 1958.

How much? %

How much? %

How much? %

50Page 4 of 5

PRIVACY AND OTHER IMPORTANT INFORMATION

BUSSQ collects and uses your personal information in accordance with the BUSSQ Privacy Statement which is available from our website or by calling 1800 MY BUSSQ (1800 692 877). This section discusses some of the ways that BUSSQ uses your personal information. Please call us if you have any questions about your rights under the privacy legislation.

Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) Act requirements

Compliance with this Act requires that we obtain identification when processing transactions in relation to your BUSSQ account. We do this to minimise the risk that the fund may be used for the laundering of money and the financing of terrorism, but it also reduces the chance that your account can be accessed by an unauthorised person.

We may need to identify:

■ You: We may need to ask you to verify your identity if you wish to make a claim on your superannuation benefit. We may also ask you to verify your identity if we are missing information about you and we may not be able to open an account for you or process any transactions unless this is received.

■ Your estate and/or beneficiaries: If you die while you are a member of BUSSQ we may need to obtain identity information from your legal personal representative and/or your beneficiaries.

■ Anyone acting on your behalf: Including a person exercising your power of attorney. In some circumstances we may need to re-verify this information.

If we have concerns that a transaction may breach any obligation of, or cause us to commit or participate in, an offence under the AML/CTF Law, we may have to delay or refuse a request or transaction and we will incur no liability to you if we do so.

We also have reporting requirements under the AML/CTF Law, and strictly prevented by the legislation from informing members that any such reporting has occurred. Where we are obliged to do so, we may disclose any information gathered to regulatory and/or law enforcement agencies, including the Australian Transaction Reports and Analysis Centre (AUSTRAC).

11 DECLARATION AND SIGNATURE

In signing this application:

■ I agree to provide the Trustee, within a reasonable period, with:- Any information they may request which relates to my membership of BUSSQ- Updated facts of any changes to the information provided in this application.

■ I understand that once commenced, the level of Pension will remain unchanged unless I advise the Trustee in writing. I agree that the Trustee will adjust the Pension payments from time to time to ensure that the level of payments do not fall outside the prescribed income levels specified by the regulatory authorities.

■ I have read and understood the Conditions of the BUSSQ Transition to Retirement and Retirement Pension Product Disclosure Statement, and this application is made subject to the terms and conditions of that document.

■ If deemed necessary by me, I have obtained financial advice from a qualified Planner concerning my investment in the BUSSQ Transition to Retirement and Retirement Pensions.

■ I declare that all the details in this application are true and correct and that I have read the PDS to which this application applies and agree to the offer contained in it and to be bound by the provisions of the Trust Deed (as amended) governing the fund; and if I have received this PDS from the internet or any other electronic means, I declare that I have received it personally, or a printout of it, accompanied by or attached to the application form before making an application to BUSSQ.

■ I understand and accept that the Trustee does not guarantee the performance of the investment strategy.

Signature of applicant

Dated (ddmmyyyy)

➲ CHECKLIST

Before you send your application off to BUSSQ make sure you have provided the following items:

■ Application form completed and signed (including Residency Declaration)

■ Certified copies of your Proof of Identity (see page 5 of this form)

■ Tax File Number Declaration completed and signed*

■ Rollover Your Super form completed and signed, if you plan to roll any money from other super funds into BUSSQ

■ Copy of bank statement where your Pension payments will be made.

*If you are aged between your preservation age and 59 years, and this form is not submitted to BUSSQ at the time your Pension commences, BUSSQ will be obliged, under current tax rules, to deduct tax at the highest rate plus the Medicare levy from your Pension payments.

WHAT’S MY PRESERVATION AGE?

IF YOU WERE BORN Before 1 July 1960

1 July 1960 to 30 June 1961

1 July 1961 to 30 June 1962

1 July 1962 to 30 June 1963

1 July 1963 to 30 June 1964

1 July 1964 or after

YOU CAN ACCESS YOUR SUPER AT AGE

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PRIVACY AND OTHER IMPORTANT INFORMATION

BUSSQ collects and uses your personal information in accordance with the BUSSQ Privacy Statement which is available from our website or by calling 1800 MY BUSSQ (1800 692 877). This section discusses some of the ways that BUSSQ uses your personal information. Please call us if you have any questions about your rights under the privacy legislation.

Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) Act requirements

Compliance with this Act requires that we obtain identification when processing transactions in relation to your BUSSQ account. We do this to minimise the risk that the fund may be used for the laundering of money and the financing of terrorism, but it also reduces the chance that your account can be accessed by an unauthorised person.

We may need to identify:

■ You: We may need to ask you to verify your identity if you wish to make a claim on your superannuation benefit. We may also ask you to verify your identity if we are missing information about you and we may not be able to open an account for you or process any transactions unless this is received.

■ Your estate and/or beneficiaries: If you die while you are a member of BUSSQ we may need to obtain identity information from your legal personal representative and/or your beneficiaries.

■ Anyone acting on your behalf: Including a person exercising your power of attorney. In some circumstances we may need to re-verify this information.

If we have concerns that a transaction may breach any obligation of, or cause us to commit or participate in, an offence under the AML/CTF Law, we may have to delay or refuse a request or transaction and we will incur no liability to you if we do so.

We also have reporting requirements under the AML/CTF Law, and strictly prevented by the legislation from informing members that any such reporting has occurred. Where we are obliged to do so, we may disclose any information gathered to regulatory and/or law enforcement agencies, including the Australian Transaction Reports and Analysis Centre (AUSTRAC).

11 DECLARATION AND SIGNATURE

In signing this application:

■ I agree to provide the Trustee, within a reasonable period, with:- Any information they may request which relates to my membership of BUSSQ- Updated facts of any changes to the information provided in this application.

■ I understand that once commenced, the level of Pension will remain unchanged unless I advise the Trustee in writing. I agree that the Trustee will adjust the Pension payments from time to time to ensure that the level of payments do not fall outside the prescribed income levels specified by the regulatory authorities.

■ I have read and understood the Conditions of the BUSSQ Transition to Retirement and Retirement Pension Product Disclosure Statement, and this application is made subject to the terms and conditions of that document.

■ If deemed necessary by me, I have obtained financial advice from a qualified Planner concerning my investment in the BUSSQ Transition to Retirement and Retirement Pensions.

■ I declare that all the details in this application are true and correct and that I have read the PDS to which this application applies and agree to the offer contained in it and to be bound by the provisions of the Trust Deed (as amended) governing the fund; and if I have received this PDS from the internet or any other electronic means, I declare that I have received it personally, or a printout of it, accompanied by or attached to the application form before making an application to BUSSQ.

■ I understand and accept that the Trustee does not guarantee the performance of the investment strategy.


Dated (ddmmyyyy)

➲ CHECKLIST

Before you send your application off to BUSSQ make sure you have provided the following items:

■ Application form completed and signed (including Residency Declaration)

■ Certified copies of your Proof of Identity (see page 5 of this form)

■ Tax File Number Declaration completed and signed*

■ Rollover Your Super form completed and signed, if you plan to roll any money from other super funds into BUSSQ

■ Copy of bank statement where your Pension payments will be made.

*If you are aged between your preservation age and 59 years, and this form is not submitted to BUSSQ at the time your Pension commences, BUSSQ will be obliged, under current tax rules, to deduct tax at the highest rate plus the Medicare levy from your Pension payments.

WHAT’S MY PRESERVATION AGE?

IF YOU WERE BORN Before 1 July 1960

1 July 1960 to 30 June 1961

1 July 1961 to 30 June 1962

1 July 1962 to 30 June 1963

1 July 1963 to 30 June 1964

1 July 1964 or after

YOU CAN ACCESS YOUR SUPER AT AGE

55 56 57 58 59 60

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COMPLETING PROOF OF IDENTITY

You will need to provide documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong. Your rollover CANNOT be processed by law without certified ID.

What identification can I use?

Copies of the following documents may be used:

EITHER

One of the following documents only:

■ A current driver’s licence or permit issued under the law of a State or Territory, or ■ A passport issued by the Commonwealth which can be up to two years out of date, that contains a photograph of the person

in whose name the document is issued. ■ Proof of Age Card

- A card issued under a law of a State or Territory for the purpose of providing the person’s age which contains a photograph of a person in whose name the documents is issued (includes Proof of Age Card or National Identity Card); or

■ National Identity Card- A card issued for the purpose of identification that contains a photograph and the signature of the person in whose name

the document is issued; and- Is issued by a foreign government, the United Nations or an agency of the United Nations; and- If it is in a language that is not understood by the person carrying out the verification it must be accompanied by an English

translation prepared by an accredited translator.

OR


■ Birth certificate or birth extract ■ Citizenship certificate issued

by the Commonwealth ■ Pension card issued by Centrelink

that entitles you to financial benefits.

AND


■ Letter from Centrelink regarding a Government assistance payment ■ Notice issued by Commonwealth, State or Territory Government within

the past 12 months, containing your name and residential address. For example:

- Tax Office Notice of Assessment - Rates notice from local council

Certification of personal documents

All copied pages of ORIGINAL proof of identification documents (including any linking documents) need to be certified as true copies by:

■ A Justice of the Peace (JP) ■ A police officer ■ A permanent employee of Australia Post with five or more years of

continuous service ■ A Commissioner for Declarations (CDEC) ■ A finance company officer with five or more years of continuous

service (with one or more finance companies) ■ An officer with, or authorised representative of, a holder of an

Australian Financial Services Licence (AFSL), having five or more years continuous service with one or more licensees

■ A notary public officer ■ A registrar or deputy registrar of a court ■ A person enrolled on the roll of a State or Territory Supreme Court or

the High Court of Australia, as a legal practitioner ■ An Australian consular officer or an Australian diplomatic officer ■ A judge of a court ■ A magistrate, or ■ A Chief Executive Officer of a Commonwealth court.

The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their:

■ Signature ■ Printed name ■ Qualification (e.g. Justice of the Peace, Australia Post employee etc)

■ Date ■ Contact phone number, and ■ Address.

To certify your documents the authorised person needs to:

1. Compare photography to the ORIGINAL

2. Include the following details on the copy:

■ Stamp or write ‘ This is a true and correct copy of the original’

Followed by:

■ Their name ■ Their qualification (such as Justice of the Peace) ■ Their signature and the date it was signed

I certify this is a true copy of the original document.

Julie Preston Justice of the Peace19/06/2015

52

Complete this form or call 1800 PENSION and do it over the phone.Please complete and sign this form and return to: BUSSQ GPO Box 2775, Brisbane Qld 4001

ROLL YOUR SUPER INTO BUSSQ

BUSS(Queensland) Pty Ltd ABN 15 065 081 281 | AFS Licence 237860 | RSE L0002158 | Registration Number R1055870CALL US 1800 ROLL N SAVE (1800 765 567) | WEB bussq.com.au | EMAIL [email protected] | GPO Box 2775 Brisbane QLD 4001

SUPER SEARCH - I authorise BUSSQ to use my TFN to keep searching for other super I may have and contact me with details.

YES NO

OPT IN FOR E-STATEMENTSAn easy way to receive, view and store your statements online.

YES NO

BUSSQ membership number

1 PERSONAL DETAILS



Gender Date of birth (dd/mm/yyyy) Tax File Number (TFN) if known

M F Daytime contact number Mobile

Email address

Super fund name Fund ABN/Unique Super Identifier (USI) Member number

2 SIGN THIS AUTHORISATION

By signing this form I am making the following statements:

■ I have read the BUSSQ Privacy Policy and understand how the Trustee intends to protect and use the information that I send them. ■ I declare I have fully read this form and that the information completed is true and correct. ■ I am aware that I may ask my superannuation provider/s for information about any fees or charges that may apply, or any other information about the

effect this transfer may have on my benefits, and do not require any further information. ■ I understand that any insurance benefits I had in my previous fund/s may cease on transfer. ■ I understand that certain transfer fees may be deducted from my benefits by my previous fund/s, and in some cases BUSSQ may be required by

law to deduct tax from the untaxed portion of the rollover payment. No fees will be charged by BUSSQ to process this rollover. ■ I request and consent to the transfer of the full balance of my superannuation account/s as described above, and authorise the superannuation

provider to close my account/s and give effect to this transfer. I discharge the superannuation provider of my previous fund of all further liability in respect of the benefits paid and transferred to BUSSQ.

■ I request that any future contributions received by my previous fund be transferred to my BUSSQ account also. ■ I understand that BUSSQ collects and uses my personal information in accordance with the privacy policy available from bussq.com.au.

I understand that I am not obligated to disclose my tax file number, but understand there may be tax consequences if I choose not to.


Dated (ddmmyyyy)

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FORMS ON FILE?

See over >

Issued by CARE Super Pty LtdABN 91 006 670 060 AFSL 235226 RSE L0000956 RSE R1004120

Page 1 of 2

VERTICALPERF

Page 2 of 2

Return this completed form to:

CareSuper Pension Locked Bag 5042Parramatta NSW 2124

or call theCareSuperPensionLine

1300 664 781

CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226. CARE Super ABN 98 172 275 725

Important notice

Binding death benefi t nominationsTo provide greater certainty about who receives your benefi t when you die, you can make a nomination that binds CareSuper’s Trustee to pay your death benefi t to specifi ed persons (providing you are still a member of the fund when you die).

The person(s) you nominate must be any one or more of the following:

● Your current spouse (including a de facto)

● Your children (including step, adopted or ex-nuptial)

● Any person(s) fi nancially dependent on you

● Any person who satisfi es the death benefi t interdependency defi nition

● Your legal personal representative, which means the executor or administrator of your estate.

It is important to note that all your nominated benefi ciaries must be alive and fall within one of these categories after your death.

How long is the nomination valid?If you make a binding nomination, it will be valid for three years from the date you sign this form. It is important that you update your nomination regularly to ensure that your wishes are met. You may renew, change or cancel your nomination at any time.

If your nomination is valid, we must follow it no matter how your circumstances have changed. For example, if you nominate your husband or wife and you later separate, but have not yet obtained a divorce, your nomination remains valid and binds the Trustee unless you vary or cancel it, or it expires.

Your dependants have the right to complain to the Superannuation Complaints Tribunal (SCT) about the Trustee’s decision. The SCT will review the decision and all supporting documentation and may be able to change the decision in some circumstances (for example, if the nomination had expired at the date of death).

What is a valid nomination?To make a nomination valid, you must also follow these procedures. Your nomination must:

Be made to us in writing on the application form over ●

the page

Clearly set out the proportion of the benefi t to be paid ●

to each person nominated (total must add up to 100 per cent)

Be signed and dated by you in the presence of two ●

witnesses over the age of 18 who are not nominated in the form

Be signed and dated by the two witnesses in your ●

presence

Be sent to us (a nomination will not be valid until we ●

receive it).

You may also wish to inform your nominated benefi ciaries of your nomination.

How do I update my binding nomination?If you want to make or cancel a binding nomination, you must follow the procedures as outlined below.

Make a new nomination: ● If you want to make a nomination, you must write your chosen benefi ciaries’ details in Section 2 of the form. Your benefi ciaries must be your spouse (legal or defacto), child (including adopted or step-children), fi nancial dependant, or legal personal representative, and the ‘percentage of benefi t’ column must total 100 per cent. The form must be signed, dated and witnessed.

Cancel a nomination: ● If you want to cancel a current binding nomination and not replace it, you must write ‘cancel previous nomination’ in the ‘Benefi ciary details’ section of the form. Please note that the form must still be signed, dated and witnessed to cancel a previous nomination.

We will write to you to confi rm your new or cancelled nomination. We will also write to you seeking your instructions prior to the expiry of any existing nomination. You will be advised of your nomination each time we send your Annual Statement, and be provided with the opportunity to update your nomination. Additional Binding Death Benefi t Nomination forms can be obtained from CareSuper by calling 1300 664 781.

Default optionIf, at the time of your death:

You have not made a binding death nomination, or ●

Your nomination has been cancelled or ●

Your nomination is invalid (for example, it is not correctly ●

signed and witnessed, it is more than three years old and has not been renewed, or any of the people nominated dies before you or no longer falls within one of the permitted categories), the Trustee of CareSuper will use its discretion to determine how your benefi t should be paid.

Is there a fee for binding nominations?CareSuper charges no fee to process a binding death benefi t nomination.

PrivacyCareSuper only collects information on this form that is essential for the administration of your binding death nomination. CareSuper will not use the information about you, or your witnesses, for any other purpose, or pass it to any other organisations without express permission.

You should consider consulting your legal adviser before making or cancelling a binding death benefi t nomination.

ORIGINAL – Tax Office copy

www.ato.gov.au

This declaration is NOT an application for a tax file number.■ Please print neatly in BLOCK LETTERS and use a BLACK pen.■ Print X in the appropriate boxes.■ Make sure you read all the instructions before you complete this declaration.

Tax file number declaration

NAT 3092-07.2007

Once this form is completed and signed, send the original to the Tax Office and keep your copy in a secure place.

3 What is your registered business name or trading name (or your individual name if not in business)

5 Who is your contact person?

Business phone number

Branch number (if applicable)

4 What is your business address?

Suburb or town

State Postcode

There are penalties for deliberately making a false or misleading statement.

Signature of payerDECLARATION by payer: I declare that the information I have given is true and correct.

Month YearDayDate For WA, SA, NT, VIC or TAS

Australian Taxation Office PO Box 795 ALBURY NSW 2640

Return completed original Tax Office copy to:For NSW, QLD or ACT Australian Taxation Office PO Box 9004 PENRITH NSW 2740

6 If you no longer make payments to this payee, print X in this box

Yes No

2 If you don’t have an ABN or withholding payer number, have you applied for one?

See ‘More information for payers’ on page 6.

Section B: To be completed by the PAYER1 What is your Australian business number (ABN) (or your

withholding payer number if you are not in business)?

30920707

TAXPAYER-IN-CONFIDENCE (when completed)

Section A: To be completed by the PAYEE6 On what basis are you paid? (Select only one.)

Full-time employment

Part-time employment

Casual employment

Superannuation income stream

Labour hire

7 Are you an Australian resident for tax purposes? Yes No

You must answer No at question 8.

9 Do you want to claim family tax benefit or the senior Australians tax offset by reducing the amount withheld from payments made to you?

NoYesComplete a Withholding declaration, but only if you are claiming the tax-free threshold from this payer. If you have more than one payer, see page 3.

8 Do you want to claim the tax-free threshold from this payer?

Answer No at questions 9 and 10 unless you are a non-resident claiming a senior Australians, zone or overseas forces tax offset.NoYes

If you have more than one source of income and currently claim the tax-free threshold from another payer, do not claim it now.

ONLY CLAIM THE TAX-FREE THRESHOLD FROM ONE PAYER.

There are penalties for deliberately making a false or misleading statement.

Signature

Month YearDayDate

DECLARATION by payee: I declare that the information I have given is true and correct.

10 Do you want to claim a zone, overseas forces, dependent spouse or special tax offset by reducing the amount withheld from payments made to you?

NoComplete a Withholding declaration.Yes

11 (a) Do you have an accumulated Higher Education Loan Programme (HELP) debt?

(b) Do you have an accumulated Financial Supplement debt?

Your payer will withhold additional amounts to cover any compulsory repayments.Yes No

NoYour payer will withhold additional amounts to cover any compulsory repayments.Yes

OR I have made a separate application/enquiry to the Tax Office for a new or existing TFN. See Privacy

of information on page 6. OR I am claiming an exemption because I am under

18 years of age and do not earn enough to pay tax.

OR I am claiming an exemption because I am a pensioner.

1 What is your tax file number (TFN)?

2 What is your name? Title: Mr Mrs Miss Ms

Surname or family name

First given name

Other given names

3 If you have changed your name since you last dealt with the Tax Office, show your previous family name

4 What is your date of birth?

Month YearDay

5 What is your home address in Australia?

Suburb or town

State Postcode

8 5 5 7 1 3 3 2 2 0 1

S U P E R A N N U A T I O N

S C H E M E Q L D

L O C K E D B A G 5 0 4 2

P A R R A M A T T A

N S W 2 1 2 4

B U I L D I N G U N I O N S

1 8 0 0 7 3 6 7 4 6

Complete this form or call 1800 PENSION and do it over the phone.Please complete and sign this form and return to: BUSSQ GPO Box 2775, Brisbane Qld 4001

ROLL YOUR SUPER INTO BUSSQ

BUSS(Queensland) Pty Ltd ABN 15 065 081 281 | AFS Licence 237860 | RSE L0002158 | Registration Number R1055870CALL US 1800 ROLL N SAVE (1800 765 567) | WEB bussq.com.au | EMAIL [email protected] | GPO Box 2775 Brisbane QLD 4001

SUPER SEARCH - I authorise BUSSQ to use my TFN to keep searching for other super I may have and contact me with details.

YES NO

OPT IN FOR E-STATEMENTSAn easy way to receive, view and store your statements online.

YES NO

BUSSQ membership number

1 PERSONAL DETAILS



Gender Date of birth (dd/mm/yyyy) Tax File Number (TFN) if known

M F Daytime contact number Mobile

Email address

Super fund name Fund ABN/Unique Super Identifier (USI) Member number

2 SIGN THIS AUTHORISATION

By signing this form I am making the following statements:

■ I have read the BUSSQ Privacy Policy and understand how the Trustee intends to protect and use the information that I send them. ■ I declare I have fully read this form and that the information completed is true and correct. ■ I am aware that I may ask my superannuation provider/s for information about any fees or charges that may apply, or any other information about the

effect this transfer may have on my benefits, and do not require any further information. ■ I understand that any insurance benefits I had in my previous fund/s may cease on transfer. ■ I understand that certain transfer fees may be deducted from my benefits by my previous fund/s, and in some cases BUSSQ may be required by

law to deduct tax from the untaxed portion of the rollover payment. No fees will be charged by BUSSQ to process this rollover. ■ I request and consent to the transfer of the full balance of my superannuation account/s as described above, and authorise the superannuation

provider to close my account/s and give effect to this transfer. I discharge the superannuation provider of my previous fund of all further liability in respect of the benefits paid and transferred to BUSSQ.

■ I request that any future contributions received by my previous fund be transferred to my BUSSQ account also. ■ I understand that BUSSQ collects and uses my personal information in accordance with the privacy policy available from bussq.com.au.

I understand that I am not obligated to disclose my tax file number, but understand there may be tax consequences if I choose not to.


Dated (ddmmyyyy)

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PLEASE COMPLETE AND SIGN THIS FORM AND RETURN TO: BUSSQ GPO Box 2775, Brisbane Qld 4001

Page 1 of 2

BUSS(Queensland) Pty Ltd ABN 15 065 081 281 | AFS Licence 237860 | RSE L0002158 | Registration Number R1055870CALL US 1800 PENSION (1800 736 746) | WEB bussq.com.au | EMAIL [email protected] | GPO Box 2775 Brisbane QLD 4001

PENSION

BINDING DEATH BENEFIT NOMINATION

1 PERSONAL DETAILS

BUSSQ membership number (if known) Date of birth (ddmmyyyy)

■■■■■■■■■ ■■ ■■ ■■■■Mr/Mrs/Ms/Miss Surname

■■■■ ■■■■■■■■■■■■■■■■■■■■■■■■■■Given names

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■Postal Address

Street number / PO Box Street name

■■■■■■■ ■■■■■■■■■■■■■■■■■■■■■■■Suburb / Town / City State Postcode

■■■■■■■■■■■■■■■■■■■■■■ ■■■ ■■■■Daytime contact number Mobile

■■ ■■■■ ■■■■ ■■■■ ■■■ ■■■Email

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■

2 BINDING DEATH NOMINATION OF BENEFICIARIES

A Binding Death Nomination allows you to nominate one or more beneficiaries to receive your benefits in the event of your death. All nominations must have two witnesses who are over the age of 18 and who are not nominated as beneficiaries. Your nomination will be binding on the Trustee in the event of your death if it meets the conditions outlined on this form and is accepted and approved by the Trustee.

Nomination Status ■ New Nomination ■ Amendment ■ Renew

In the event of my death, I direct the Trustee to pay my Death Benefit from BUSSQ in accordance with the following:

Beneficiaries

Surname Given name Date of birth Relationship % Allocation

Total 100%

Total must equal 100% or this nomination will not be valid. Only whole percentages will be accepted. When making a decision on the beneficiary(ies) you wish to nominate please read the Important Information overleaf.

If your nomination does not meet these conditions it will be invalid and your Death Benefit will be dealt with in accordance with the Trustees decision based on information received at the time of your death.

Page 2 of 2 BQ/PEN/BIND/DEATH 901.9 09/15 ISS2

2 BINDING DEATH NOMINATION OF BENEFICIARIES (Cont’d)

Important InformationOnce you have made your nomination and a fully completed form has been received by the Trustee the nomination is legally binding so long as it remains valid. The Trustee of BUSSQ must act in accordance with your nomination of beneficiaries. There is strict Government legislation on how a binding nomination of beneficiaries must be made, amended or revoked by a member. Please note the following conditions that apply to binding nominations of beneficiaries:

■ Nominations, amendments and cancellations can only be accepted on a form which is approved by the Trustee. This form is an approved form. ■ A beneficiary must be your legal representative (the executor or administrator of your estate) or a dependant. ■ Dependant is defined as:

– Your Child (biological, adopted and step-children under 18), or – An interdependant partner, or – Any other person the Trustee considers dependent on you for maintenance and support at the time of your death. – An interdependant partner is a person that you:

– Have a close personal relationship with, – Live with, – Provide with financial support, or they provide you with financial support, and – Provide domestic support and personal care; or they provide you with domestic support and personal care.

Interdependency can also arise between two people who have a close personal relationship but do not live together or provide each other with financial or domestic support because of physical, intellectual or psychiatric disabilities.

■ “Spouse” of a person (legal or defacto),(a) another person (whether of the same sex or a different sex) with whom the person is in a relationship that is registered under a law of a State or

Territory prescribed for the purposes of section 22B of the Acts Interpretation Act 1901 as a kind of relationship prescribed for the purposes of that section; and

(b) another person who, although not legally married to the person, lives with the person on a genuine domestic basis in a relationship as a couple. ■ If at the time of death your nominated beneficiary is not a dependant under the above definition, your nomination will be made invalid. Should you

require further assistance with your nomination, BUSSQ recommends that you seek guidance from your legal representative. ■ You must specify the proportion of your benefit each beneficiary is to be paid. The total benefit must have been allocated by you on this form. If your

allocation does not total 100% the entire nomination will be invalid. ■ The nomination must be signed by you and two witnesses, both of whom must be at least 18 years of age and not nominated as beneficiaries. ■ Your nomination remains valid for three years from the date it is made. Each year the Trustee will notify you of the details of your

nomination and its expiry date on your Member Statement. ■ Your nomination may be amended at any time by submitting a new approved form to the Trustee. If an amendment is made, the nomination will be

valid for three years from the date the amendment is made. ■ It is your responsibility to keep your nomination up to date and confirm it every three years. Where your nomination is valid and in effect at the

date of your death, the Trustee must pay your Death Benefit in accordance with your nomination. If your personal circumstances change or if your preferred beneficiaries change you should complete a new form.

■ Where you do not nominate a beneficiary, your nomination has expired or has been cancelled or is otherwise invalid, the Trustee will consider that no valid nomination applies. In this event, the Trustee will pay your Death Benefit as per the Trust Deed.

■ If your nominated beneficiary is under the age of 18 years the Trustees of BUSSQ may pay this benefit to a guardian to use for the maintenance, support or advancement of your nominated beneficiary. Alternatively, the Trustee may forward this benefit to the Public Trustee to hold in trust until the nominated beneficiary attains the age of 18.

■ Before entering into a Binding Death Nomination you should seek professional advice to understand the tax consequences and consider the suitability of the nomination for your specific needs.

■ The information in this form is general information only and does not take into account individual objectives, financial situations or needs.

Independent witness

Witness A – I declare that the below Declaration was signed and dated by the member in my presence and that I am aged 18 or over and am not a nominated beneficiary of the member.

Full name of witness A

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■Signature of witness A

Date (ddmmyyyy)

➲ ■■ ■■ ■■■■Witness B - I declare that the below Declaration was signed and dated by the member in my presence and that I am aged 18 years and over and am not a nominated beneficiary of the member.

Full name of witness B

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■Signature of witness B

Date (ddmmyyyy)

➲ ■■ ■■ ■■■■NOTE: THIS FORM MUST BE WITNESSED AT THE TIME IT IS SIGNED AND DATED BY THE MEMBERMember DeclarationI declare that:

■ I have read the BUSSQ Privacy Policy and understand how the Trustee intends to protect and use the information that I send them. ■ I have read and understand the Important Information contained in this form. ■ I will notify the Trustees immediately if my circumstances change and make any necessary changes to my Binding Death Nomination.

Signature

Date (ddmmyyyy)

➲ ■■ ■■ ■■■■

SIG

N

HE

RE

SIG

N

HE

RE

SIG

N

HE

RE

Page 2 of 2 BQ/PEN/BIND/DEATH 901.9 09/15 ISS2

2 BINDING DEATH NOMINATION OF BENEFICIARIES (Cont’d)

Important InformationOnce you have made your nomination and a fully completed form has been received by the Trustee the nomination is legally binding so long as it remains valid. The Trustee of BUSSQ must act in accordance with your nomination of beneficiaries. There is strict Government legislation on how a binding nomination of beneficiaries must be made, amended or revoked by a member. Please note the following conditions that apply to binding nominations of beneficiaries:

■ Nominations, amendments and cancellations can only be accepted on a form which is approved by the Trustee. This form is an approved form. ■ A beneficiary must be your legal representative (the executor or administrator of your estate) or a dependant. ■ Dependant is defined as:

– Your Child (biological, adopted and step-children under 18), or – An interdependant partner, or – Any other person the Trustee considers dependent on you for maintenance and support at the time of your death. – An interdependant partner is a person that you:

– Have a close personal relationship with, – Live with, – Provide with financial support, or they provide you with financial support, and – Provide domestic support and personal care; or they provide you with domestic support and personal care.

Interdependency can also arise between two people who have a close personal relationship but do not live together or provide each other with financial or domestic support because of physical, intellectual or psychiatric disabilities.

■ “Spouse” of a person (legal or defacto),(a) another person (whether of the same sex or a different sex) with whom the person is in a relationship that is registered under a law of a State or

Territory prescribed for the purposes of section 22B of the Acts Interpretation Act 1901 as a kind of relationship prescribed for the purposes of that section; and

(b) another person who, although not legally married to the person, lives with the person on a genuine domestic basis in a relationship as a couple. ■ If at the time of death your nominated beneficiary is not a dependant under the above definition, your nomination will be made invalid. Should you

require further assistance with your nomination, BUSSQ recommends that you seek guidance from your legal representative. ■ You must specify the proportion of your benefit each beneficiary is to be paid. The total benefit must have been allocated by you on this form. If your

allocation does not total 100% the entire nomination will be invalid. ■ The nomination must be signed by you and two witnesses, both of whom must be at least 18 years of age and not nominated as beneficiaries. ■ Your nomination remains valid for three years from the date it is made. Each year the Trustee will notify you of the details of your

nomination and its expiry date on your Member Statement. ■ Your nomination may be amended at any time by submitting a new approved form to the Trustee. If an amendment is made, the nomination will be

valid for three years from the date the amendment is made. ■ It is your responsibility to keep your nomination up to date and confirm it every three years. Where your nomination is valid and in effect at the

date of your death, the Trustee must pay your Death Benefit in accordance with your nomination. If your personal circumstances change or if your preferred beneficiaries change you should complete a new form.

■ Where you do not nominate a beneficiary, your nomination has expired or has been cancelled or is otherwise invalid, the Trustee will consider that no valid nomination applies. In this event, the Trustee will pay your Death Benefit as per the Trust Deed.

■ If your nominated beneficiary is under the age of 18 years the Trustees of BUSSQ may pay this benefit to a guardian to use for the maintenance, support or advancement of your nominated beneficiary. Alternatively, the Trustee may forward this benefit to the Public Trustee to hold in trust until the nominated beneficiary attains the age of 18.

■ Before entering into a Binding Death Nomination you should seek professional advice to understand the tax consequences and consider the suitability of the nomination for your specific needs.

■ The information in this form is general information only and does not take into account individual objectives, financial situations or needs.

Independent witness

Witness A – I declare that the below Declaration was signed and dated by the member in my presence and that I am aged 18 or over and am not a nominated beneficiary of the member.

Full name of witness A

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■Signature of witness A

Date (ddmmyyyy)

➲ ■■ ■■ ■■■■Witness B - I declare that the below Declaration was signed and dated by the member in my presence and that I am aged 18 years and over and am not a nominated beneficiary of the member.

Full name of witness B

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■Signature of witness B

Date (ddmmyyyy)

➲ ■■ ■■ ■■■■NOTE: THIS FORM MUST BE WITNESSED AT THE TIME IT IS SIGNED AND DATED BY THE MEMBERMember DeclarationI declare that:

■ I have read the BUSSQ Privacy Policy and understand how the Trustee intends to protect and use the information that I send them. ■ I have read and understand the Important Information contained in this form. ■ I will notify the Trustees immediately if my circumstances change and make any necessary changes to my Binding Death Nomination.

Signature

Date (ddmmyyyy)

➲ ■■ ■■ ■■■■

SIG

N

HE

RE

SIG

N

HE

RE

SIG

N

HE

RE

56BUSS(Queensland) Pty Ltd ABN 15 065 081 281 | AFS Licence 237860 | RSE L0002158 | Registration Number R1055870

CALL US 1800 PENSION (1800 736 746) | WEB www.bussq.com.au | EMAIL [email protected] | GPO Box 2775 Brisbane QLD 4001

This page has been left blank intentionally.

213.3_BUS367_vF.indd 4 31/3/11 3:04:42 PM

VALUABLE SERVICE FOR BUSSQ MEMBERS

47

“WE SPOKE TO A BUSSQ FINANCIAL PLANNER WHO HELPED US MANAGE OUR PENSION.”MICHAEL & JANET BORDONARO

Ask to speak to one of our Financial Planners about your super or Pension over the phone or in person.

FINANCIAL ADVICEWe are an industry super fund regulated by APRA, and are therefore required by law to charge our super fund members a fee for delivering complex financial planning advice. However, we’ve worked hard to ensure our fees for financial planning services are low and structured purely for cost recovery, to make sure you can still access the financial advice you need to get your retirement planning on track. Better still, these fees can be deducted from your BUSSQ account, so you won’t be out of pocket.

BUSSQ offers members and non-members both straightforward and complex advice. This advice is delivered by BUSSQ’s in house Financial Planners and can be done in person or over the phone. Our fee for complex advice is very competitively priced at $150 per hour which includes GST. It is expected that most complex advice will cost between $300 and $750, depending on the complexity and time required by the Financial Planners. Non-BUSSQ members who receive advice will need to be billed for the advice separately. To find out more go to bussq.com.au or call us 1800 PENSION (1800 736 746).

ABN15 065 081 281

AFS Licence 237860

RSE L0002158

Registration number R1055870

BUSSQ SPIN CODE BUS0002AU

BQ

/PE

N/P

DS

455

.8 0

8/15

ISS

6

CONTACTING USWEB bussq.com.au

PHONE 1800 PENSION (1800 736 746)


MAIL GPO Box 2775 Brisbane QLD 4001

VISIT BUSSQ has offices in various locations. For details go to bussq.com.au and search ‘visit us’.

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