Product Disclosure Statement

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Example of annual fees and costs for the Moderate option This table gives an example of how the fees and costs for the Moderate investment option for this superannuation product can affect your superannuation investment over a one-year period. You should use this table to compare this superannuation product with other superannuation products. Example - Moderate investment option Balance of $50,000 Investment fee Nil For every $50,000 you have invested in the Moderate investment option, you will be charged $0 each year. PLUS Administration fee $1.50 per week (or $78.00 pa) And, you will be charged $78* in administration fees regardless of your balance. PLUS Indirect costs for the Moderate investment option EQUALS Cost of the Moderate investment option 0.96% pa And, indirect costs of $480* each year will be deducted from your investment. If your balance was $50,000, then for that year you will be charged fees of $558* for the Moderate investment option. * Note that additional fees may apply. Additional explanation of fees and costs Performance fees Some of the Fund’s investment managers receive performancebased fees. Performance fees only apply when the investment manager outperforms their target return. A target return is set as a percentage in excess of an index or other suitable benchmark above which a performance fee is payable. Where a manager outperforms, the higher returns are reflected in the net investment earnings rate applied to members’ accounts, so members benefit overall. The estimated indirect costs shown in the table on page 19 include a performance fee component of up to 0.20% pa for all investment options, except Cash and Cash Enhanced, which have no performance fees. The ranges are based on the Trustee’s reasonable expectations of investment manager performance. Administration fees An administration fee of $1.50 per week (i.e. $78 each year) is deducted from your pension account retrospectively on an annual basis on 30 June, or earlier when you fully commute your pension. If you start your pension after 1 July or exit Maritime Super prior to 30 June, a pro rata amount will be charged to your pension account. Adviser service fees Maritime Financial Services Pty Limited (MFS), the Fund’s administrator, has financial planners who can assist you. Your first consultation is free of charge. The cost for providing this service is included as part of the total indirect costs set out in the table on page 19. For subsequent consultations, the Maritime Super financial planner will agree a fee-for-service and provide you with a quote of their services. These fees will be set out in the <strong>Statement</strong> of Advice provided to you. Financial advice fees cannot be paid from your super account. Incidental fees You may be charged a fee if you request additional information that is either time-consuming or difficult to provide. We will let you know the cost if this applies to you. Change in fees The Trustee has the right to amend the level of fees charged in the future, without your consent. Any increase in the fee ranges will be communicated to you at least 30 days before it is applicable. Indirect costs Include all investment costs and, for all options other than the Fixed Term Investment, indirect administration costs. The ranges shown in the table on page 19 reflect the Trustee’s reasonable expectation of the indirect costs. 20 • PDS • Maritime Super Division • Allocated Pension and Working Income Support Pension • 1 July 2015
Defined fees The definitions below are general definitions for the fees and costs disclosed in the table on page 19. Activity fees A fee is an activity fee if: • the fee relates to costs incurred by the trustee of the super fund that are directly related to an activity of the trustee: –– that is engaged in at the request, or with the consent, of a member; or –– that relates to a member and is required by law; and • those costs are not otherwise charged as an administration fee, an investment fee, a buy-sell spread, a switching fee, an exit fee, an advice fee or an insurance fee. Administration fees An administration fee is a fee that relates to the administration or operation of the super fund and includes costs incurred by the trustee of the fund that: • relate to the administration or operation of the fund; and • are not otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee. Advice fees A fee is an advice fee if: Indirect cost ratio The indirect cost ratio (ICR) for a MySuper product or an investment option offered by a super fund is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the super fund attributed to the MySuper product or investment option. Note that a dollar-based fee deducted directly from a member’s account is not included in the indirect cost ratio. Investment fees An investment fee is a fee that relates to the investment of the assets of a super fund and includes: • fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and • costs incurred by the trustee of the fund that: –– relate to the investment of assets of the fund; and –– are not otherwise charged as an administration fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee. Switching fees A switching fee is a fee to recover the costs of switching all or part of a member’s interest in the super fund from one class of beneficial interest in the super fund to another. • the fee relates directly to costs incurred by the trustee of the super fund because of the provision of financial product advice to a member by: –– a trustee of the fund; or –– another person acting as an employee of, or under an arrangement with, the trustee of the fund; and • those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an insurance fee. Buy-sell spreads A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the super fund in relation to the sale and purchase of assets of the fund. Exit fees An exit fee is a fee to recover the costs of disposing of all or part of members’ interests in the super fund. Allocated Pension and Working Income Support Pension • PDS • 21
Page 1 and 2: Allocated Pension & Working Income
Page 3 and 4: About this Product Disclosure State
Page 5 and 6: Step 3: Consider the risks As with
Page 7 and 8: Step 8: Complete the application fo
Page 9 and 10: Risk and return The relationship be
Page 11 and 12: Cash This option invests 100% in de
Page 13 and 14: Balanced This option targets to inv
Page 15 and 16: Fixed Term Investment Investment ob
Page 17 and 18: Other important investment informat
Page 19 and 20: Nominating beneficiaries You can no
Page 21: Fees and costs Consumer advisory wa
Page 25 and 26: Tax on death benefits If paid as a
Page 27 and 28: Providing proof of identity Under A
Page 29 and 30: Other products & services Fixed Ter
Page 31 and 32: Application for Allocated Pension I
Page 33 and 34: Application for Working Income Supp
Page 35 and 36: Binding beneficiary nomination Comp
Page 37 and 38: Non-binding beneficiary nomination
Page 39 and 40: Allocated Pension and Working Incom

Product Disclosure Statement

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