1
Macquarie
Super andPension Manager II
Product Disclosure Statement
Macquarie Wrap
Macquarie Super and Pension Manager II (Super and Pension Manager II) is
part of a superannuation fund established by way of a trust deed. The trustee
for the superannuation fund is Macquarie Investment Management Limited
ABN66002867003 AFSL 237492 RSEL L0001281 (MIML, the Trustee, we,
us, our).
MIML has appointed Bond Street Custodians Limited ABN 57 008 607 065
AFSL237489 (BSCL) to hold the Fund’s investments in custody. BSCL also
liaises with the product issuers of those managed investments that appear on the
Investment Menu. BSCL and MIML are both Macquarie Group entities. Macquarie
Group means Macquarie Group Limited and its related bodies corporate (as defined
in the Corporations Act 2001 (Cth)).
The information contained in this Product Disclosure Statement (PDS) for Super and
Pension Manager II should be read in conjunction with the Technical Information
Booklet (TIB) and Investment Menu, which are incorporated by reference.
In deciding whether to acquire or continue to hold an investment, you should
consider the PDS, TIB and Investment Menu. Applications can only be made on
the application form contained in the current PDS or online application. The Trustee
may change any of the terms and conditions in this PDS, including current fees
and charges. Where a change is materially adverse to investors, the Trustee will
give investors notice as required by law. Information that is not materially adverse
is subject to change from time to time and may be updated through the website
macquarie.com.au/wrapofferdocs. A paper copy of any updated information will
be given, or an electronic copy will be made available, free of charge upon request.
MIML is not an authorised deposit-taking institution for the purpose of the Banking
Act 1959 (Cth), and MIMLs obligations do not represent deposits or liabilities of
Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502 (MBL). MBL does not
guarantee or otherwise provide assurance in respect of the obligations of MIML.
Investments in Super and Pension Manager II, other than any holdings in term
deposits with MBL and the Wrap Cash Hub are not deposits with or other
liabilities of MBL or of any Macquarie Group company, and are subject to
investment risk, including possible delays in repayment and loss of income
or principal invested. Neither MBL, MIML nor any other member company
of the Macquarie Group guarantees the performance of Super and Pension
Manager II, the repayment of capital or any particular rate of return of the
investments purchased through Super and Pension Manager II.
This invitation to offer is only available to people receiving this PDS (electronically or
otherwise) within Australia.
Product Disclosure Statement (PDS) issued
by Macquarie Investment Management
Limited ABN66002867 003 AFSL 237492
RSELL0001281.
Date of issue: 23 November 2019
Contents
Superannuation through a Wrap service ................2
How does Super and Pension Manager II work? ..3
Features at a glance ..........................................5
Opening and adding to your account ................7
Understanding your Investments .....................12
Fees and other costs .......................................23
Additional explanation of fees and costs ..........27
Transacting ...................................................... 33
Reporting ........................................................38
How do I withdraw? ........................................40
Insurance ........................................................44
Other information .............................................47
Understanding superannuation ........................ 53
Estate planning ................................................55
Frequently asked questions .............................57
Terminology used ............................................59
macquarie.com
A copy of this PDS and other important
information is available from
macquarie.com.au/wrapofferdocs
To contact us, please call 1800 025 063.
2
Superannuation through a Wrap service
Super – a long term investment
Superannuation is a long term investment to help you save
for your retirement. It can be an effective structure to help you
save due to the tax savings provided by the Government.
It is, in part, compulsory as your employer is generally required
to contribute a portion of the money you earn to your super
savings. Other contribution types are also available, including
personal and government contributions. In most cases, you
will have the choice into which superannuation fund your
employer makes contributions. However, there are limits on
the amounts you can contribute into super.
There are also restrictions on withdrawing funds from your
account. You must meet a condition of release before you can
access your benefits.
More information on superannuation, including the limits
on contributions and how you can access your benefits, is
available in the TIB.
What is a Wrap service?
A Wrap service draws all of your investments together around
a central cash flow account. This enables easy administration
of your retirement savings, as all buying, selling, reporting and
maintenance of investments held in your account occurs in
one place.
Super and Pension Manager II is a Wrap-style account
designed for investors who are looking for:
access to a broad range of investment options
consolidated reporting, and
someone else to manage the paperwork related to their
retirement savings.
You also benefit from online access to your account details,
tax-efficient features and estate planning options, all backed
by Macquarie’s leading-edge technology and deep technical
know-how.
Macquarie Wrap
Macquarie Wrap is provided by MIML. MIML is an entity within
the Macquarie Group that provides a wrap platform of which
Super and Pension Manager II is one of several products.
MIML is the trustee of Super and Pension Manager II. The
Board of MIML is comprised solely of independent directors.
Smart superannuation solutions
Super and Pension Manager II is comprised of:
Super Manager II: an accumulation superannuation
solution,and
Pension Manager II: offering both transition to retirement
pensions and a standard account-based pension.
Important information
This document, the PDS, aims to provide you with the information necessary to open your account.
The TIB, incorporated by reference into the PDS (Document number MAQST01), contains general technical information to
help you understand your superannuation. It is available online at macquarie.com.au/supertech
The Investment Menu, incorporated by reference into the PDS (Document number MAQSIM03), contains information about
the available Eligible Investment and Eligible Insurance options. It is available online at macquarie.com.au/supermenu
This document should be read in conjunction with the TIB and the Investment Menu (which together form the PDS for Super and
Pension Manager II) and the PDSs and other offer documents of the underlying investments that you may invest in and insurance
cover that you may choose. Information incorporated by reference into this PDS is available at macquarie.com.au/wrapofferdocs
If you are unable to access the online information, your adviser or MIML can provide the information in hard copy free of charge.
The information contained in this PDS is general information only. We have not taken into account your objectives, financial
situation or needs. You should consider the appropriateness of the information in this PDS, taking into account your objectives,
financial situation and needs, before acting on any information in this PDS. You should obtain the relevant PDS for a financial
product before making any decision about whether to acquire that financial product.
Companies named in this document and the TIB, have given and have not withdrawn their consent to statements by them, or
statements based on statements by them, in the form and context in which they appear.
The Wrap Cash Hub is a deposit held with MBL by the Fund’s custodian, which forms part of your Super and Pension
Manager II account. Your interest in the Wrap Cash Hub will not be directly protected by the Federal Government’s Financial
Claims Scheme. However, you may have a pro-rata entitlement to the Fund’s aggregate cap amount of $250,000 per deposit
account per authorised deposit-taking Institution (ADI). This entitlement ranks in proportion with all other members’ Wrap
Cash Hub and term deposit holdings. Please contact us or your adviser if you would like information on how the Federal
Government’s Financial Claims Scheme may indirectly apply to your interest in the Wrap Cash Hub.
MIML is a member of the Financial Services Council (FSC). FSC member companies must comply with standards set by the
association, which are primarily designed to informinvestors.
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How does Super and Pension Manager II work?
Super and Pension Manager II is designed for members who have advisers to
assist them with personal advice in respect of their investments.
Your Adviser
Where you have an adviser linked to your account, they
should be your main point of contact and any queries about
your account should be directed to them. When you open
your account and nominate an adviser to be linked to your
account, you authorise your adviser and other people working
in or for their organisation to give us instructions on your
behalf as set out throughout this PDS and you authorise us
andour agents to rely on and act on those instructions.
The role of your adviser includes the ongoing maintenance of
your account.
In particular, your adviser can advise you on an investment
strategy which suits your risk profile and needs, and provide
you with information about the underlying investments
(managed investments including Separately Managed
Accounts (SMAs), Australian listed securities and term
deposits) available through your account.
With your authority, your adviser can buy and sell investments
within your account online. Prior to investing or obtaining
insurance, your adviser should provide you with the relevant
disclosure documents. They are also available from us on
request. You should carefully consider these disclosure
documents (including the risks section) beforeinvesting.
Where you do not have an adviser linked to your account,
you need to operate your account by dealing directly with us.
Investment and other instructions can be provided to us in
writing using the appropriate form.
Where the context permits, where this PDS contemplates
something being done by an adviser, it should also be read as
being done by you.
See the You and your adviser section for more details.
Wrap
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How does Super and Pension Manager II work?
The Wrap Cash Hub
Your account works with a central cash flow account – the
Wrap Cash Hub. All regular transactions into or out of your
account, including superannuation contributions, taxes,
pension payments, fees and charges are processed through
the Wrap Cash Hub.
You can also invest directly into the Wrap Cash Hub from
different sources – whether contributions from your employer,
personal contributions or rollovers from other superannuation
funds, using a variety of methods such as B
PAY
®
and
electronic funds transfer.
Taking the ‘work’ out of paperwork
We process all investment transactions and manage corporate
actions on your behalf. In most cases, this is done according
to the instructions you provide to your adviser which are
then communicated to us. This helps reduce the ongoing
administrative work for youradviser.
Online reporting
To ensure the advice you receive is based on the
latest information, both you and your adviser can go to
MacquarieOnline at any time to view a consolidated picture
ofyour portfolio.
®
Registered to Bpay Pty Ltd ABN 69 079 137 518.
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Features at a glance
Outlined below are the main features of Super and Pension Manager II.
Feature Key information
Reporting
Online access Macquarie Online allows you to view details of your account, such as the overall value, asset
allocation and transaction history.
Statements Annual statements on your account will be available online.
Group reporting Link multiple accounts to access a consolidated report.
Investment options
Wrap Cash Hub The central cash flow account for all the regular transactions into and out of your account.
Managed investments Over 500 professionally managed investments across a broad range of investment strategies
and styles are available on the Investment Menu.
Separately Managed Accounts
(SMAs)
A type of managed investment which combines professional portfolio management with the
benefits of greater control and visibility of the underlying investments. Over 150 managed
portfolios available through a number of SMA providers.
Australian listed securities A wide selection of eligible listed securities that can be transacted on the Australian Securities
Exchange (ASX).
Term deposits A range of issuers, terms and rates are available.
Automated investment management tools
Dollar cost averaging Regular monthly or quarterly investments from the Wrap Cash Hub into managed investments.
Automatic cash management Manage the balance in the Wrap Cash Hub through the automated buying and selling of
managed investments and SMAs.
Automatic rebalancing Rebalance the managed investments within your account to ensure that your account stays in
line with your investment strategy.
Pension features
Pension payment flexibility Pension Manager II clients have the flexibility to:
decide the level of pension payments to receive (subject to Government limits)
determine the frequency of payments (monthly, quarterly, half-yearly or annually)
choose a transition to retirement pension
make lump sum withdrawals.
Please note: Some restrictions apply to transition to retirement pensions.
Pension update functionality You can commute an existing pension, combine the proceeds with additional super and
commence a new pension, all within your existing Pension Manager II account (so your account
number, personal details and transaction history are retained).
Insurance and estate planning
Insurance Super Manager II offers access to insurance cover for various life events through multiple
insurance providers. For detailed information on the insurance cover available, you should
consider the separate insurance PDSs, available from the relevant insurance provider or your
adviser. Please refer to the Investment Menu for details of the Eligible Insurance.
Non-lapsing death benefit nomination Provides you with greater control over the payment of your benefits in the event of your death.
Child pensions An extension of the non-lapsing death benefit nomination that allows your benefit to be paid as
a tax-effective income stream to your minor children, or certain other children, in the event of
your death.
Taxation
Individual tax processing Individual tax processing within your account helps you to benefit from the individual investment
decisions that you make.
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Features at a glance
Feature Key information
Investment minimums
Initial investment $10,000
Ongoing account balance $10,000
Wrap Cash Hub balance $1,000
Balance per term deposit $10,000
Balance per managed investment $250
Balance per SMA The minimum balance for each SMA is at the discretion of the SMA provider. For more
information regarding the minimum balance per SMA, please refer to the current SMA PDS and
other disclosure documents for the SMAs available from your adviser, or from us.
Managed investment transactions $100
Australian listed securities Balances and transactions are as required by the ASX, subject to a minimum tradeable value
of$500.
Contribution methods
Super Manager II Cheque, direct credit or BPAY: No minimum
Direct debit: $100 per debit
B
PAY BPAY biller codes to contribute to Super Manager II
Personal: 423004
Spouse: 423020
In-specie transfers Transfer your existing managed investments or Australian listed securities (which are currently
available on the Investment Menu) into your account.
Withdrawals
Minimum withdrawal $500 per lump sum withdrawal.
Cooling-off A 14-day cooling-off period applies to your initial investment in Super and Pension Manager II.
Fees and other costs (for more information, refer to the Fees and other costs section)
Administration fees The fee paid to us for the general administration of your account.
Investment fees The fees charged by product issuers for the managed investments, relevant SMAs and other
Eligible Investments held within your account.
Adviser fees You can negotiate the amount of fees (if any) your adviser will receive, provided they are for
services solely related to your account.
Other fees and costs Other fees and costs may apply to your account.
Transacting on your account
Online trading for your adviser With your authority, your adviser can buy and sell your investments online or through a
nominated broker.
Super to pension transfers You can switch from Super Manager II to Pension Manager II without realising any capital gain
or loss as a consequence of the transfer.
Corporate actions If you hold Australian listed securities, we generally allow you to participate in corporate actions
such as share purchase plans.
Optional services
New Zealand (NZ) KiwiSaver
transfers
Transfer your Australian superannuation to an eligible NZ KiwiSaver scheme.
Further information
TIB and Investment Menu The TIB contains general technical information to help you understand superannuation. The
Investment Menu outlines all Eligible Investments and Eligible Insurance made available by the
Trustee as investment options and insurance cover you and your adviser may select.
The TIB and the Investment Menu can be accessed at macquarie.com.au/supertech
and macquarie.com.au/supermenu
If you are unable to access the online information, MIML or your adviser can provide the
information to you in hard copy.
7
Opening your account
To open your account, you or your adviser, on your behalf,
must complete the application form. You will be required to
confirm the details in the application form are correct and
that you wish to proceed with opening your account. You
can provide this confirmation electronically or by signing an
application form. Additionally, you must:
have an adviser
have online access, and
nominate your current email address and mobile telephone
number for the purposes of receiving notices and
information about your account.
Your first investment, comprising either a single or several
payments, must meet the minimum initial investment
requirements of $10,000.
If you are an existing member of the Fund in another product,
you are not required to have an adviser to open a Super and
Pension Manager II account.
Contributions
To make or receive contributions into your superannuation
account, you must meet certain conditions. The contribution
acceptance rules are outlined in the TIB.
If the contribution is a personal contribution that you intend
to claim as a tax deduction, please refer to the Claiming tax
deductions for your contributions section for more information.
We are required to report employer contributions to the
Australian Taxation Office (ATO) and Australian Prudential
Regulation Authority (APRA) as one of three employer
contribution types:
Employer Superannuation Guarantee: compulsory
employer contributions as part of the Employer
Superannuation Guarantee requirements
Employer Salary Sacrifice: additional contributions made
from the employee’s pre-tax income
Employer Other: contributions made as part of an
award or additional employer contributions above
mandatedamounts.
Your employer is required to nominate one of the above
contribution types when making an employer contribution into
your account. Where an employer contribution is received and
the type is not nominated, it will be recorded as an Employer
Superannuation Guarantee contribution.
All contributions, excluding those made by the transfer of
existing non-cash assets, will be credited to the Wrap Cash
Hub. Additional contributions can be made to your account via
one or more of the following methods.
Contributing via SuperStream
Super Manager II accounts are able to receive employer
contributions via SuperStream.
Employers or their service providers will require your account
details and the following superannuation fund information to
send contribution information and payments via SuperStream:
Unique Superannuation Identifier (USI) and superannuation
product name
Australian Business Number (ABN)
Electronic service address.
The USI and ABN for making contributions to
SuperManagerIIare:
USI ABN
Super Manager II
65508799106185 65 508 799 106
Employers or their payroll service providers can use the USI
and ABN to identify the individual super product on the ATO’s
Fund Validation Service in order to obtain the crediting details
and electronic service address.
BPAY (Super only)
Certain contributions can be made by selecting the BPAY
option from an internet or telephone banking service and
following the instructions to enter the appropriate biller code
based on the type of contribution being made (see list below),
your reference number and the contribution amount.
Your 10-digit reference number can be found on your member
statement, under account details online, or from your adviser.
Your reference number is not your account number.
Super biller codes
Personal 423004
Spouse 423020
Contributions will generally be credited to the Wrap Cash Hub
on the second Business Day following the payment. If you are
making a personal contribution that you intend to claim as
a tax deduction, please refer to the Claiming tax deductions
for your contributions section. Using an incorrect reference
number or biller code may result in delays in processing.
We are unable to accept rollovers and certain contributions
(eg downsizer, small business CGT concession and personal
injury) by B
PAY.
Opening and adding to your account
8
Opening and adding to your account
Direct debit (Super only)
You or your spouse can make regular contributions by
completing the Direct debit request form available online or
from your adviser. We will debit an amount selected by you (a
minimum of $100 per debit) from the bank or building society
nominated on the form at your chosen frequency.
You can also make one-off contributions such as downsizer,
small business CGT concession and personal injury by
completing the Direct debit request form and the applicable
ATO form. The applicable ATO form must be provided to us
with the Direct debit request form, otherwise we may not be
able to process your request. We recommend you speak with
an adviser to find out if you are eligible to make these types of
contributions before submitting the form.
Where the account debited is not in your name, we may
require additional documentation to identify that account
inrelation to you.
You must notify us if you cease to be eligible to make
contributions (see the section Acceptance of superannuation
contributions in Contributing into superannuation in the TIB).
Your contributions will be deducted on or shortly after the
8th day of the relevant month(s) and credited to the Wrap
Cash Hub, generally on the second Business Day following
the deduction. You have a choice of the following direct
debitfrequencies:
once only at the time of the request
monthly
quarterly in March, June, September and December
half-yearly in June and December, or
annually in June.
We are unable to accept rollovers by direct debit.
Cancelling a direct debit
You can cancel your direct debit at any time without penalty.
Please give us 14 days’ notice in writing and notify us before
the 24th day of the month to make the cancellation of your
direct debit effective in the following month.
Your direct debit may automatically cease if:
your account is closed
you do not make at least one successful direct debit
contribution in every 12 month period
three direct debits are rejected within a 12 month period, or
you have reached age 65 and have not met the work test
or you have otherwise become ineligible to contribute.
We reserve the right to modify or cancel the direct debit at
any time; for example, where you have had three or more
dishonoured payments. Where your direct debit is modified or
cancelled and your account is still open, we will first give you
14 days’ notice, or contact your adviser.
Direct credit (Super only)
You or your spouse can arrange to make one-off transfers
from an Australian bank or building society account into the
Wrap Cash Hub. This differs from direct debits because you
are crediting funds from your external account, as opposed to
us withdrawing from it. Direct credits will generally be credited
within two Business Days of the transfer.
If you do not elect the direct credit contribution type on your
application form, you will need to complete the Direct credit
facility request form, available online or from your adviser.
Please note: You are only able to elect one contribution
type (either personal, child or spouse) for your direct credit
facility. Other contribution types can be contributed via
B
PAY. Your employer must contribute via SuperStream. If
you are making a personal contribution that you intend to
claim as a tax deduction, please refer to the Claiming tax
deductions for your contributions section.
We are unable to accept rollovers and certain contributions
(eg downsizer, small business CGT concession and personal
injury) by direct credit.
Cheque
For some contribution types, you may prefer to make the
contribution by cheque. These will generally include CGT
concession, personal injury and downsizer contributions.
Cheques should be made payable to:
MIML Super Manager II (full account name) or
MIML Pension Manager II (full account name)
Cheques, for these contribution types, should be
accompanied by either a new application or an Additional
investment form (available online or from your adviser), as well
as the applicable ATO form, and sent to us.
Cheque contributions will be treated and recorded by us
according to the contribution type nominated (see Types of
contributions and payments in the TIB). If you do not specify
the contribution type, processing of your contribution may be
delayed and there may be taxation consequences.
Cheques take approximately three Business Days to clear
and must be cleared before your selected investments can
bepurchased.
Contributions made with managed investments
and/or listed securities (in-specie contributions)
You may transfer approved Australian listed securities and
available managed investments that you already own into your
account, subject to superannuation law requirements. This is
referred to as an in-specie contribution.
We only accept in-specie contributions made as either
personal (whether non-concessional or concessional) or
spouse contributions. See Claiming tax deductions for your
contributions section below for the requirements for claiming a
tax deduction on your personal contributions.
The transfer of investments from your own name to
superannuation is generally a capital gains tax event and
there may be tax consequences. We recommend that
you seek professional tax advice that will consider your
individualcircumstances.
Stamp duty may be payable on the transfer of certain
managed investments.
There must be sufficient cash contributed to meet the
minimum cash balance and fees, taxes and other costs.
We are unable to accept contributions by way of transfer of
term deposits into your account.
9
Opening and adding to your account
Rollovers
If you are rolling over your existing superannuation investments,
your adviser can do so on your behalf when completing an
online application. Alternatively, you can complete the Rollover
authority form after your account has been opened.
Your existing superannuation fund may require additional
documentation. Please contact them for these requirements
and include any necessary paperwork with the Rollover
authority form.
Electronic processing of rollovers
The Fund meets the data and e-commerce standards required
to process rollovers electronically.
The USI and ABN for Super and Pension Manager II, required
for processing rollovers, are:
USI ABN
Super Manager II 65508799106185 65 508 799 106
Pension Manager II 65508799106186 65 508 799 106
Rollovers with managed investments and/or
listedsecurities
You may transfer approved Australian listed securities and
managed investments from another superannuation fund into
your account, subject to superannuation law requirements. This
is referred to as an in-specie rollover. Refer to the Contributions
made with managed investments and/or listed securities section
for further details. A Rollover authority form is not required when
rolling in managed investments or listed securities.
Transferring assets from another superannuation fund is
generally a capital gains tax event and there may be tax
consequences. We recommend that you seek professional tax
advice that will consider your individual circumstances.
Stamp duty may be payable on the transfer of certain
managed investments.
Claiming tax deductions for your contributions
To be eligible to claim a tax deduction for your personal
contributions, you must give a notice of intent to claim a tax
deduction to us within certain timeframes. Your eligibility may
also be affected by your age and level of taxable income.
If you are eligible and intend to claim a deduction for some or
all of your personal contributions, you are required to notify us
in an ATO-approved format. You can do this by completing
either a new application form (for initial contributions), or a
Deduction notice for personal contributions form, available
online or from your adviser, (for personal contributions made
after your account is opened). Once you have submitted a
completed notice and, subject to us being able to accept
the notice under tax law, the applicable contributions tax will
be deducted from your account and we will send you an
acknowledgement of your notice.
All personal contributions made by direct debit, direct
credit, in specie transfer and B
PAY will be processed initially
as non-concessional contributions until you submit a valid
deductionnotice.
To claim a tax deduction, you must submit a deduction
noticebefore:
you lodge your income tax return (for the year in which the
contribution was made), and
the end of the financial year following that in which the
contribution was made.
In addition, a deduction notice for personal contributions will
be invalid and will not be able to be accepted by us if:
all or part of the contribution has been covered by an earlier
valid notice
at the time you submit the notice, you have ceased to be a
member of the Fund
at the time you submit the notice, we no longer hold the
contributions (including where you have withdrawn or rolled
over – in full or part – from your account after making the
contributions)
at the time you submit the notice, you have commenced
a pension based in whole or part on the contributions
(including where you have partially transferred your
account balance to a pension account after making the
contributions), or
you have applied to split the contributions with your spouse
(and we have accepted your application).
You may vary an earlier notice in certain circumstances but
only so as to reduce the amount you intend to claim as a
tax deduction (including to nil). In order to vary an earlier
notice, you must also notify us in an ATO-approved format
(which you can do by using the Deduction notice for personal
contributions form). It is important to note that a variation must
generally be lodged within the same timeframes as a deduction
notice itself and we will be unable to accept a variation to an
earlier notice in any of the circumstances listed above.
Please note: You must have sufficient available cash
to allow us to process the deduction notice.
We suggest that you obtain professional tax advice if you
are considering claiming a deduction for your contributions.
Further details about the tax treatment of personal deductible
contributions are available in the Taxation section.
Dishonoured contributions
If a contribution into your account (eg by direct debit) is
dishonoured, you authorise us to:
pass on to you any fees associated with the dishonour
(these will be deducted from the Wrap Cash Hub, and it
may not be possible to advise you of these fees before the
fee is processed), and
correct your account details to reflect the amount of the
contribution that was dishonoured.
10
Opening and adding to your account
Establishing your pension
We will establish your Pension account as soon as practicable
after we have accepted your application. The opening of a
Pension account does not constitute the commencement of
apension.
If your pension will be wholly or partially based on rollover
amounts, it is important that you arrange for the payment
of them to us as soon as possible so as to not delay the
commencement of your pension.
1
Your pension will not commence until all contributions and
rollovers identified on your application form have been received
by us. We may contact you and/or your adviser if the amounts
we receive vary from the amounts noted on your application.
If we have not received all of those amounts in sufficient time
for us to make the first financial year’s required payment
(generally on or before 15 June in the financial year), we
will calculate your pension based on the amounts we have
received up to that time and commence making your pension
payments.
2
The capital supporting your pension will then
only include the amounts received by us and no further
contributions or rollover amounts can be added to it.
Under the trust deed, we have the power (as Trustee) to
commute your pension and apply the commuted amount to
a new account for you from the Fund. Generally, we would
only do so if we considered it necessary for administrative,
regulatory or tax purposes and, in any event, we would notify
you before we did so.
Pension commencement value
The commencement value of the pension that we will report to
the ATO for transfer balance cap purposes and for calculating
the minimum pension payment will be:
for non transition to retirement pensions: the value of your
Pension account on the day we receive the last rollover or
contribution
3
, or
for transition to retirement pensions: the value on the day
we process your notification that you have satisfied a
relevant condition of release, or when you reach age 65,
whichever occurs first.
For valuation purposes we will use the most recent asset
prices available to us at the applicable time. In the case
of managed funds, these may not be the unit prices that
the product issuers eventually strike for that day. The
commencement value may therefore be different to account
valuations available online.
Commencing a pension
Eligibility to invest in a pension
Generally, you can only roll over unrestricted non-preserved
amounts into a pension account.
However, if you have reached your preservation age, you
may elect to commence an account-based pension using
preserved or restricted non-preserved amounts, known as a
transition to retirement pension. Particular restrictions apply
to withdrawals until you retire or meet another condition of
release. Please refer to the Pension payments section for more
information about these restrictions.
Your pension application
You must include details of all amounts with which you wish
to commence your pension on your pension application form.
This includes:
amounts you may wish to transfer from an existing account
within the Fund
any new contributions, and
any amounts you wish to roll over from other
superannuation funds.
These amounts will form the capital to support your pension.
1
Any amounts not identified in your application may not be
applied to commence your pension.
If you wish to commence a pension based in whole or in part
on a new contribution, we will open a new Super account to
accept the contribution (and deduct contributions tax where
applicable). This account will be operated only for the purpose
of receiving super contributions, transfers and rollovers used
as capital to commence your Pension account. Once all
amounts have been received, they will be transferred to your
Pension account, including any earnings accrued on this
Super account. The Super account will then be closed. You
will not be able to access any benefit directly from the new
Super account.
If you plan to commence a pension based in whole or part
on personal contributions that you intend to claim as a tax
deduction, you must ensure that you have submitted a
deduction notice for these contributions before (or at the
time of) applying to commence a pension. After this time, a
deduction notice for these contributions will not be accepted
or varied under any circumstances.
1
If you wish to commence a pension based in whole or part on a rollover that includes an untaxed element, tax will be deducted on this element
upon receipt of it by us at the rate of 15 per cent so that the amount included in the capital to support your pension will be net of tax.
2
If your pension commences in June of a financial year, you are not required to receive a pension payment in that financial year.
3
Note, where an in specie transfer of assets is used to commence a pension (including through the Pension Update facility), the assets are not
received into the pension account until the day after they are transferred. Therefore, the value of these assets when the pension commences will
generally be different to the transfer value due to market movements. This should be factored in when commencing or updating a pension to avoid
exceeding the transfer balance cap. For more information, speak to your adviser, or us.
11
Opening and adding to your account
Transition to retirement pensions
If you commence a transition to retirement pension, the
earnings within the pension will be taxed in the same manner
as a Super account. See the How tax is deducted section for
more details on how tax applies to your account.
Any pension commenced as a transition to retirement pension
will continue to be taxed until such time as you meet a relevant
condition of release. At this time, your pension will be taxed in
the same manner as a standard account-based pension.
Pension Update functionality
You are able to commute an existing pension and combine the
proceeds with additional superannuation monies to commence
a new pension within your existing Pension account. Your
account number, personal details and transaction history will
be retained.
This can be requested using the Pension Update request
form, available from your adviser, or from us.
Minimum pension payment requirements from the existing
pension must be met before it can be commuted.
The Pension Update functionality cannot be used to convert
a standard account-based pension to a transition to
retirementpension.
Please note: The minimum additional funds that need
to be added to the new pension using the Pension
Update functionality is $500.
Overseas transfer arrangements
Investments from other countries
Contributions or transfers received in foreign currency, or in
Australian dollars from an overseas financial institution, may
be subject to delays in settlement and clearance. Please note
that we may be unable to process your application until you
have completed, and we have received, all relevant application
requirements, including your cleared contribution or transfer in
Australian dollars. It may be important for your own taxation
purposes (under Australian or foreign law) to ensure that transfers
are complete and amounts received by us within a particular
financial year. Speak to your adviser for more information.
Incidental fees may apply to foreign currency amounts that
are converted to Australian dollars before being added to the
Wrap Cash Hub. In limited circumstances, we may be able to
arrange currency conversion, which will take place at market
rates. Foreign currency conversion fees may apply and will
be deducted from the proceeds paid to your account. To find
out details of the exchange rates and currency conversion
charges, please contact us at the time of the transfer.
If you are transferring benefits from the United Kingdom (UK),
these transfer amounts must be paid into a fund that is a
Qualified Recognised Overseas Pension Scheme (QROPS).
The Fund no longer meets the requirements to be a QROPS.
If you transfer UK benefits to a fund that is not a QROPS,
you may incur and be personally liable for tax penalties in the
UK. You should consult an adviser and seek independent tax
advice to determine whether this may apply to you.
Transferring a tax liability to the Fund
In some cases, you may elect to transfer all or part of your
personal Australian tax liability in respect of a transfer of
benefits from a foreign superannuation fund to the Fund. In
order to make this tax election, you must no longer have
an interest in the foreign superannuation fund immediately
after the transfer is received by the Fund and you need to
complete a Choice to have your Australian fund pay tax on a
foreign super transfer form (available from your adviser or the
ATO) which we require within either 30 days of the overseas
transfer being received by the Fund or (if applicable) prior to
the commencement of a pension, whichever is earlier. It is
important to be aware that once the choice is made to transfer
a tax liability to the Fund it cannot be varied or revoked.
Application money held in trust
We will only open your account once you have satisfied
our application requirements including the identification
requirements set down in the Anti-Money Laundering and
Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Laws)
and Macquarie internal policies and procedures.
If we are not able to issue your interest or increased interest in
the Fund immediately after receipt of your application money,
that money will be held in a non-interest bearing trust account
with an Australian authorised deposit-taking institution. The
trust account is currently a deposit account held with MBL.
If we are not able to issue your interest or increased interest in
the Fund within a period of one month starting from the day
on which we receive your application money, we will return the
money to the sender.
12
By investing your superannuation through Super and Pension Manager II, you
have access to an extensive range of investments, including over 500 managed
investments, SMAs, Australian listed securities, term deposits and other
selectedinvestments. Before investing, you should read any PDS and other
disclosure documents that are provided to you by your adviser or available from us.
Understanding your Investments
You can invest your account across an extensive range of
investment options and investment managers.
The Investment Menu, listing the Eligible Investments available
through Super and Pension Manager II, is available through
your financial adviser or free of charge from us
at macquarie.com.au/supermenu
You should read the PDS and other disclosure documents
associated with the managed investments, including SMAs,
you are considering. These should be provided on request
and free of charge by your adviser or the Trustee and are also
available online.
The Wrap Cash Hub
The Wrap Cash Hub is the central cash flow account for all the
regular transactions into and out of your account. It is a deposit
held with MBL by the Fund’s custodian. The Wrap Cash Hub
pays a variable interest rate. The rate will be no less than the
official RBA cash rate less 0.75 per cent.
The current interest rate for the Wrap Cash Hub can
beobtained from our website at
macquarie.com/au/personal/investments/macquarie-wrap
For further information about the Wrap Cash Hub, refer to the
Transacting section.
Your investment strategy
The Fund makes available a wide range of investment
options that you and your adviser can select with reference
to a number of investment strategies. For some investors,
choosing your investments from such an extensive range of
options may prove daunting and this may be made easier with
the assistance of an adviser.
The Trustee has formulated a range of investment strategies
and categorised Eligible Investments appropriate to those
strategies. Eligible Investments will fall into one of these
investment strategy categories. Each investment strategy has
a different objective, potential return, risks and suggested
minimum timeframe.
In some instances, we have further categorised Eligible
Investments with reference to an investment strategy sub-
category based on our due diligence and the investment’s risk
and return profile.
About the investment strategies
Social and ethical considerations
We do not take into account labour standards or
environmental, social or ethical considerations in the selection,
retention or realisation of Eligible Investments. In some
circumstances we may consider these issues, but no specific
methodology is applied.
Product issuers of the individual managed investments,
including SMAs, may have their own policies on the extent,
if any, to which these considerations are taken into account
when making investment decisions. Any such policy will be
referred to in the PDS and other disclosure documents for the
managed investment or SMA.
Addition and removal of investment strategies
andoptions
Our Investment Menu is likely to vary over time where we believe
such changes are consistent with the best interests ofmembers.
We may, at our discretion:
add investment options to the Investment Menu
remove investments from the Investment Menu (in which
case we may redeem any existing holdings with the
proceeds paid to the Wrap Cash Hub), or
not allow any further additions into the investment option
for any member or for any member who does not currently
have an investment in that investment option.
Where possible, to allow you and your adviser time to adjust to
variations to the Investment Menu, we will give advance notice
of such a variation affecting your investment, and in some cases,
the choice of retaining or disposing of that investment. Notice will
generally be provided via product issuer updates provided to your
adviser online and updated on the Investment Menu.
However, advance notice and the choice to retain or dispose
of the investment may not be possible in all circumstances.
Accordingly, we reserve the right to change the Investment Menu
with immediate effect, without notice. You should seek advice to
help you determine what you should do in these circumstances.
In adding investments to, or removing investments from
the Investment Menu, we have not taken into account your
personal financial situation, needs or objectives.
In certain circumstances we may be required to remove
Eligible Investments from the Investment Menu. In these
instances, we may no longer permit you to invest into the
relevant asset and we may sell any existing holdings to cash.
You can view the Investment Menu from
macquarie.com.au/supermenu
13
Understanding your Investments
What are the risks?
In an investment context, risk is the possibility of not meeting
your financial objectives. The fundamental risk associated with
superannuation may be the possibility that you are unable to
receive the level of income that you require in retirement.
If the value of your investment is expected to change (up
or down) significantly over time, this is considered a volatile
or more risky investment. Investments that offer the highest
returns generally also carry the highest level of risk.
All investments involve some element of risk. Given the risks
of different asset classes over the long-term, investors could
generally expect share and property investments to generate
the highest average return with the most volatility. Fixed
interest and cash investments could be expected to produce
lower average returns, but with lower volatility. Periods of
extended volatility in both financial markets and the Australian
dollar, may result in some long-term asset class returns
varying from what may generally be expected.
The level of risk associated with your account will depend in
part on the investment strategy you and your adviser adopt.
You need to consider the specific risks of the investments you
choose, which are included in the PDS and other disclosure
documents for each Eligible Investment you are considering, in
addition to the risks described on the following pages.
How does diversification help reduce risk?
An important way to help manage the risks discussed above
is to ensure that the investment strategy chosen by you
and your adviser includes investments that are diversified
across a range of characteristics. Diversification may be
achieved in various ways, including investing in various asset
classes, market sectors, geographical regions and investment
managers. In addition, you should consider how investing your
superannuation through Super and Pension Manager II fits into
your overall investment portfolio.
Diversification of your investment portfolio can be used as part
of your overall portfolio risk management to limit your exposure
to loss or underperformance of any one investment, manager
or asset class.
Diversifying your investment across a broad range of
asset classes may smooth returns while still providing the
opportunity for capital growth. An easy way to achieve
diversification is to invest in multi-sector managed investments,
where you gain exposure to a range of securities in different
asset classes. Your adviser will be able to recommend an
investment strategy to suit your goals and risk tolerance.
The diversity of assets within some managed investments
generally helps to reduce risk and produce more consistent
returns than investing directly in a single asset. You should
read the relevant PDS and other disclosure documents which
should be provided by your adviser (or are available from us)
prior to placing any managed investment orders. Investing in
Australian listed securities may expose you to more risk than
investing in managed investments because returns from single
securities can fluctuate significantly over time.
A lack of diversification (arising from investing a large
proportion of your account in the same asset or type of
investment) can increase the risk of losses and may lead to a
reduction in the amount of your retirement savings.
Investment risks
In considering the associated risks when investing your
superannuation through Super and Pension Manager II,
the risks you should be aware of can be grouped into two
broadcategories:
general investment risks: which arise from participating as
an investor in financial markets, and
specific investment risks: are risks that stem from the
specific investment or product, such as changes to the
relevant management, operations or business environment.
It is important to be aware that investment risks may be able
to be managed or reduced, but they cannot be eliminated
completely. Details of some general and specific risks that
investors should consider when investing their superannuation
through Super and Pension Manager II are outlined in the
General investment risks and Specific investment risks tables.
There are other risks that may affect the performance
of investments. No assurance or guarantee as to future
profitability, return of capital or performance of the investments
can be provided by the Trustee, MBL, nor any Macquarie
Group company or any of the product issuers (except where
stated). For more comprehensive details of the risks you
may be exposed to, you need to consider both this PDS
and the PDS and other disclosure documents of the Eligible
Investments you are considering.
Where you have an adviser, you should discuss these risks
with them, prior to investing.
14
Understanding your Investments
General investment risks
Risk Description
Market A change in the price of shares (or other listed securities) in which you or your chosen managed investments
have invested may result in a loss of principal or large fluctuations in the unit prices. Factors that drive
changes in share prices may include changing profitability of, and confidence in, companies, industries/
sectors, economic cycles, volume of shares on issue, investor demand levels, business confidence and
government and central bank policies. Exposure to this risk may be reduced by investing in a range of
investments outside of the affected market(s). Please refer to the How does diversification help to reduce
risk? section for further information.
Volatility Generally, the higher the potential return for the investment, the higher the risk, and the greater the chance
of substantial fluctuation in returns (including the possibility of losses) that may occur over time (especially
over shorter periods of time). Equity markets may experience sharp declines and become more volatile,
at times to very high levels. Investing in such volatile conditions implies a greater level of risk than an
investment in more stable markets.
Inflation Your investments may not keep pace with inflation. Broadly, this means prices may increase by more than
the value of your investments. If this eventuates, you would not be able to buy as much with the value of
your investments in the future as you could now.
Interest rate Changes in interest rates may adversely affect the value of certain investments. An increase in interest rates
may lead to a reduction in the value of a fixed interest investment, and vice versa. This risk is usually greater
for fixed interest investments that have longer maturities.
Default Where money has been borrowed, there is the risk that the borrower (or product issuer) will not pay the
interest and/or repay the principal owing. For borrowers or issuers with lower credit ratings, this risk is
generally higher.
Country The risk that political, economic or social developments may adversely affect the return on an investment in
the relevant country. Examples include political instability, recession and war. Exposure to country risk may
be higher in relation to investments in emerging markets or developing countries.
Issuer The risk that the product issuer may not achieve its performance objective or does not produce returns that
compare favourably against its peers.
Counterparty The risk of loss to your investment due to the failure of a party involved in any transaction to meet their
obligations. Counterparties can include brokers for exchange traded derivatives, structured investment
counterparties, fixed interest investment issuers and term deposit issuers.
Legal and regulatory Changes in laws or their interpretation, including taxation and corporate regulatory laws, practice and policy
could have a negative impact on your investment.
Investment objective Investment objective risk is the risk that your choice of investments will not meet your objectives. One
measure of an investment’s risk is how much the returns vary from period to period. The greater the
variance in returns, the more likely returns will differ from those expected over a given time period.
15
Understanding your Investments
Specific investment risks
Risk Description
Liquidity Certain investments may be difficult to purchase or sell, preventing their conversion to cash or being
rebalanced within a timely period and at a fair price. Choosing an investment that has low liquidity or is not
priced on a daily basis may affect your investments’ capacity to pay your pension or the timeframe within
which we can process any future request from you to withdraw part or all of your account. Additionally,
some investments may, without prior notice, suspend or restrict further withdrawal of funds. It is important
that you understand this consequence before you select this type of investment. Please refer to Rolling over
your benefit within the How do I withdraw? section for further information.
While an investment may be liquid at the time of purchase, there is a risk that the investment may
become illiquid at a point in the future. The Trustee will assess the liquidity of investments on an ongoing
basis through various measures, including but not limited to, reviewing liquidity stress testing results and
monitoring the investment’s cash flows. Refer to the underlying PDS and other disclosure documents for
each investment option for further details on the investment’s liquidity.
For term deposits, liquidity risk is the risk of not being able to access your investment in a term deposit
prior to the maturity date. There are restrictions on breaking a term deposit held in your account, and these
are outlined in the How do I withdraw? section.
Concentration Concentration risk is the risk that poor performance of a single investment or group of investments significantly
affects your account’s return. Diversification across relevant investment features can reduce the impact of
such extremes in performance. For example, a term deposit is not diversified across a range of cash and fixed
interest investments. It is a concentrated investment in a single asset, being a deposit with a single issuer. You
should also consider the concentration risk of being exposed to deposit takers as well as holding shares and
other investment products issued by that entity. Consequently, making such a concentrated investment gives
greater exposure to the underperformance or failure of that single asset or issuer.
Concentration risk can also arise from holding a range of investment products (even though these may have
diverse features) where they are issued by the same particular legal entity or group.
Fund (managed
investment)
This is the risk that a fund could terminate, the fees and expenses could change, or key investment
manager staff could change. There is also the risk that investing in a fund may give less favourable results
than investing directly in the assets in which a fund invests because of the income and capital gains
accrued in the fund and the consequences of investment and withdrawal by other investors.
Currency Currency risk is the risk that fluctuations in exchange rates between the Australian dollar and foreign
currencies may cause the value of Eligible Investments or your NZ KiwiSaver transfer amounts to decline
significantly. Product issuers may choose to mitigate the impact of currency movement by ‘hedging’ all or
part of the investment’s exposure to foreign currencies; however, there is no guarantee this will occur.
Derivative Product issuers may use leveraged instruments, such as exchange traded futures contracts, to obtain or
reduce market exposure. Derivatives, such as futures and options are leveraged instruments whose value is
derived from actual underlying assets. These instruments are used to obtain or reduce market exposures.
As derivatives can provide leveraged exposure, gains or losses can be greater than the gains or losses on
unleveraged positions.
Geared investment
options
Product issuers may borrow money to increase the total amount invested, which increases the volatility of
investment returns. This is known as gearing.
Gearing an investment option could increase long-term returns. However, if the asset value were to fall,
gearing may result in substantial negative returns, as gearing magnifies both gains and losses. In the event
of a significant fall in the asset value, the value of a geared investment could fall to less than the total value
of borrowings, rendering the investment worthless. This emphasises that gearing is a strategy for high
risk investors. An increase in interest rates may also negatively impact returns. There is also a risk that the
product issuer may not be able to refinance its borrowings at commercially reasonable rates or at all and
may be forced to sell assets. Gearing may not be suitable for all investors. We recommend you discuss the
suitability of geared investments with an adviser.
Divergence to Net
Tangible Assets
The risk that a listed investment option may trade at a price that is different to the value of the underlying
investments that the investment option invests in; ie the Net Tangible Assets (NTA). This risk is present in
Listed Investment Companies and Listed Investment Trusts and may affect your ability to redeem shares/
units in these assets at a price that accurately reflects the value of the underlying holdings. These securities
may trade at a premium above or at a discount below the NTA which in turn may also affect the expected
risk/return profile.
Note, although this can also occur in Exchange Traded Funds and Exchange Traded Managed Funds,
deviation of the trading price from the underlying portfolio value is expected to be minor for these
investments given the use of market makers and eligible participants.
For details of other risks specific to SMAs, please refer to the current PDS and other disclosure documents for these schemes
available from your adviser, or from us.
16
Understanding your Investments
Non-investment risks
As with any service that uses technology, there is some
risk that our administration system’s hardware and software
may fail, causing a delay in the processing and reporting on
your account. We have sought to address this risk and the
risks associated with other unforeseen circumstances in our
business resilience plans and risk management framework.
This includes processes to back up our computer systems
and regular reviews of our systems and control procedures
including an external, independent audit on an annual basis.
Even so, we do not accept responsibility where such failures
are outside of our control.
There is also risk associated with our reliance on information
or systems provided by product issuers and other external
service providers. We address this risk by having service
agreements in place with third parties. If they notify us of any
errors, we will correct the errors promptly after we are notified
and to the extent that correcting the error is reasonably
within our control. If the changes are material, they will be
communicated to you and/or your adviser.
Operational Risk Financial Requirement
The Trustee has formulated a strategy for establishing,
implementing, managing and maintaining an Operational Risk
Financial Requirement (ORFR) in accordance with applicable
superannuation laws. The ORFR is currently funded by the
Trustee through shareholder capital and does not form part of
the administration fee or any other fee described within this PDS.
What factors can affect your returns?
Over short periods of time, the returns from most investments
can fluctuate significantly. Returns can be affected by a
number of factors including, but not limited to, market volatility,
company specific events, interest rates, economic cycles,
political events and levels of economic growth (global and
country specific). No one can be certain of the impact of
these factors in the future and therefore no one can accurately
predict the level of investment returns.
Past performance
Past performance information for each managed investment
is generally available in the respective PDS or other disclosure
document. These are available online or from your adviser. It is
important to remember that:
past performance is not necessarily an indication of
futureperformance
your investment is not guaranteed by the Trustee (refer to
the Frequently asked questions section for details on the
Government guarantee on deposits), and
the value of your investments can rise and fall.
Standard Risk Measure
The Standard Risk Measure is based on industry guidance
to allow members 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
what the size of a negative return could be or the potential
for a positive return to be less than a member may require to
meet their objectives. Further, it does not take into account
the impact of administration fees and tax on the likelihood of a
negative return.
Members should still ensure they are comfortable with the
risks and potential losses associated with their chosen
investment option/s.
Risk band Risk label
Estimated number of
negative 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
As shown above, a risk band of 1 would suggest that the
investment is the least risky investment, and a risk band of 7
suggests a very risky investment.
The Fund’s approach to SRMs
In accordance with the methodology provided in the Standard
Risk Measure Guidance Paper for Trustees issued by the
Association of Superannuation Funds of Australia and the
FSC, SRMs are assigned to managed investments, exchange
traded funds, listed investment companies and listed
investment trusts and term deposits.
The SRMs are set by the Trustee based on SRMs provided
by the product issuers, the SRM ranges it assigns to each
investment strategy, the SRMs assigned to similar investments
and its own analysis. For Australian listed securities and where
an SRM assessment is not readily available, the Trustee may
issue a default rating of 7 – Very high.
The Trustee reviews SRMs on a regular basis. The Trustee will
review an SRM if there is a material change to the underlying
risk and return characteristics of an investment or an
investment strategy.
Refer to the Investment Menu for the SRM of individual
investments, available from your adviser or online
at macquarie.com.au/supermenu
17
Understanding your Investments
Target risk and return
The target return is a long-term expected return per annum
for an investment in a particular strategy (ie at least a 15 year
period) and is used to measure the suitability of the investment
for the intended objective. The target risk is a measure of the
expected volatility
1
of such return over time, the higher the
volatility the higher the expected variability of the return from
year to year.
Example of target risk and return
If an asset class experienced an historical average return of
5% over the long term, and the target risk of the asset class
was 2% to 4% over this period, the actual return each year
for that asset class would generally have been within:
a minimum range of 3% to 7%
a maximum range of 1% to 9%.
The Trustee assigns a target risk and return for each investment
strategy based on forward looking long-term asset class risk
and return expectations. These are used to evaluate potential
investments offered under each strategy and to monitor the
performance of such investments. The actual risk and return
of different investments within the same investment strategy
can vary significantly from time to time and may fall outside the
target risk and return for the relevant investment strategy.
Target risk and returns for each strategy are reviewed by
the Trustee periodically and may change accordingly. At
its discretion the Trustee may also reclassify individual
investments between investment strategies to better align
them to the target risk and returns of their respective
investment strategies.
The target risk and returns are not forecasts and are
notguaranteed.
1
Volatility is expressed as the standard deviation of returns per annum.
2
The target return rate is a long term expected return and not a forecast. Please refer to the Target risk and return section for further details.
3
The target risk is not a forecast. It is an annual measure of the expected change in the target return expressed as a percentage. Please refer to the
Target risk and return section for further details.
4
Term deposits and Annuities are assigned an SRM of 1.
Investment strategies
This section outlines the general characteristics of the investment strategies available. You may choose investments from these
strategies. The details of a particular investment may vary from the information below.
To gain a better understanding of a specific investment you should also read the PDS or other disclosure document for that
investment. Risks and returns provided in the table below are indicative of the relative risks and returns for these investment
strategies. For further information you should refer to the section on investment risk and the relevant PDS or other disclosure
document for each investment.
Eligible Australian listed securities do not have a PDS. You should discuss the risks associated with these investments with your adviser.
Investment strategy Cash Enhanced cash Australian fixed interest
Objective Aims to achieve stable returns over
the short-term with a high level of
capital security.
Aims to achieve stable returns over
the short-term with a medium to
high level of capital security.
Aims to achieve stable returns via
income and capital growth over the
medium to long-term with a high to
medium level of capitalsecurity.
Strategy Returns driven by exposure to
Australian demand deposits and
cash equivalents; eg short-term,
liquid investments with a high
degree of capital stability and no
material or potential exposures to
non-cash holdings.
Returns driven by exposure to
Australian money market securities
and fixed interest securities with
varying maturities.
Returns driven by exposure to the
debts of Australian governments,
semi-government, companies and
asset backedsecurities.
Target return (% pa)
2
1.5% to 2.5% 2.0% to 4.0% 2.5% to 4.5%
Target risk (% pa)
3
0.5% to 1.0% 0.5% to 4.0% 2.5% to 5.5%
SRM range 1 1 to 4 1
4
, 5
Suggested minimum
timeframe
No minimum 4 years 5 years
Sub-strategy N/A N/A Term deposits
Annuities
Sector specific
Enhanced
Specialist
Diversified
Unsecured notes
Listed Investment Companies
(LICs)/Listed Investment
Trusts(LITs)
18
Understanding your Investments
1
The target return rate is a long term expected return and not a forecast. Please refer to the Target risk and return section for further details.
2
The target risk is not a forecast. It is an annual measure of the expected change in the target return expressed as a percentage. Please refer to the
Target risk and return section for further details.
Investment strategy Global fixed interest
Specialised global
fixedinterest Australian property
Objective Aims to achieve stable returns over
the medium to long-term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve stable returns over
the medium to long-term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over a
medium to long-term via income
and capital growth with a medium
to low level of capital security.
Strategy Returns driven by exposure to the
debts of international government,
semi-government, companies and
asset backed securities.
Returns driven by exposure to the
debts of international governments,
semi-government, companies
and asset backed structures.
Investments may focus on specific
sectors, attributes or regions.
Returns driven by exposure to
Australian property equity, in listed,
unlisted and direct forms.
Target return (% pa)
1
2.5% to 5.0% 3.0% to 6.5% 5.5% to 7.5%
Target risk (% pa)
2
3.0% to 6.0% 3.0% to 11.0% 8.0% to 18.0%
SRM range 4 to 6 5 to 6 5 to 7
Suggested minimum
timeframe
6 years 8 years 9 years
Sub-strategy Diversified Enhanced
Sector specific
Specialist
Listed
Unlisted
Diversified
Investment strategy Global property Australian shares Global shares
Objective Aims to achieve returns over a
medium to long-term via income
and capital growth with a medium
to a low level of capital security.
Aims to achieve returns over a
medium to long-term via income
and capital growth with a low level
of capital security.
Aims to achieve returns over a
medium to long-term via income
and capital growth with a low level
of capital security.
Strategy Returns driven by exposure to
international property equity, in
listed, unlisted and direct forms.
Returns driven by exposure to the
equity of Australian companies,
via shares and other securities
primarily listed on the ASX.
Returns driven by exposure to the
equity of international companies,
via shares and other securities
primarily listed on global exchanges.
Target return (% pa)
1
5.0% to 7.0% 6.0% to 9.5% 5.5% to 7.5%
Target risk (% pa)
2
10.0% to 17.5% 14.5% to 20.5% 10.5% to 17.0%
SRM range 6 to 7 6 to 7 6 to 7
Suggested minimum
timeframe
9 years 6 years 6 years
Sub-strategy Listed
Unlisted
Diversified
Index
Small cap
Specialist
Sector specific
Diversified
LICs/LITs
Index
Diversified
19
Understanding your Investments
Investment strategy Specialised global shares Alternative debt Alternative commodities
Objective Aims to achieve returns over a
medium to long-term via income
and capital growth with a low level
of capital security.
Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Strategy Returns driven by exposure to
equity of international companies,
via shares and other securities
primarily listed on global
exchanges. Investments may
focus on specific sectors, themes,
countries or regions.
Returns driven by a manager’s skill
in adding, managing and reducing
exposure to debt instruments.
Investments may focus on listed
or unlisted debt, highly rated
or distressed situations and
may focus on specific sectors,
attributes or regions.
Returns driven by exposure to
physical assets that have value due
to their substance and properties
eg precious metals, commodities
and oil.
Target return (% pa)
1
5.0% to 8.5% 4.5% to 9.0% 2.5% to 4.0%
Target risk (% pa)
2
10.5% to 23.5% 7.5% to 12.5% 18.5% to 23.5%
SRM range 6 to 7 4 to 6 7
Suggested minimum
timeframe
8 years 8 years 12 years
Sub-strategy Sector specific
Specialist
Regional/Country
LICs/LITs
N/A N/A
Investment strategy Alternative real assets Alternative insurance Diversified alternatives
Objective Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Strategy Returns driven by a manager’s skill
in adding, managing and reducing
exposure to physical assets that
have value due to their operation eg
unlisted infrastructure, real estate,
agricultural land, timber, machinery.
Returns driven by a manager’s
skill in adding, managing and
reducing exposure to insurance
linked securities and markets eg
life insurance and catastrophe
reinsurance.
Returns driven primarily by the
investment strategy rather than
market exposure. The strategy is
benchmark unaware and utilises
traditional assets such as shares,
bonds or property.
Target return (% pa)
1
5.5% to 7.5% 5.5% to 7.0% 5.0% to 7.5%
Target risk (% pa)
2
6.5% to 13.5% 4.5% to 6.0% 6.0% to 12.0%
SRM range 4 to 6 3 to 4 4 to 6
Suggested minimum
timeframe
7 years 4 years 6 years
Sub-strategy N/A N/A N/A
1
The target return rate is a long term expected return and not a forecast. Please refer to the Target risk and return section for further details.
2
The target risk is not a forecast. It is an annual measure of the expected change in the target return expressed as a percentage. Please refer to the
Target risk and return section for further details.
20
Understanding your Investments
Investment strategy Alternative macros Alternative specialist Alternative equity
Objective Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over a
medium to long term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over a
medium to long term via income and
capital growth with a medium to low
level of capital security.
Strategy Returns driven by a manager’s
skill in identifying top-down
price signals eg economics and
momentum. The strategy is
benchmark unaware and can
utilise a wide range of assets such
as shares, bonds, currencies and
derivatives eg managed futures.
Returns driven by a manager’s
skill in identifying bottom-up
price signals independent of the
market. The strategy is benchmark
unaware and can utilise a wide
range of assets such as shares,
bonds, currencies and derivatives
eg equity market neutral.
Returns driven by a manager’s skill
in adding, managing and reducing
exposure to equity risk. Investments
may focus on global or domestic
companies, via listed securities such
as shares or unlisted interests such as
limited partnership interests (private
equity funds).
Target return (% pa)
1
7.5% to 9.5% 4.5% to 6.0% 6.5% to 10.5%
Target risk (% pa)
2
9.0% to 11.0% 4.0% to 5.5% 11.5% to 24.5%
SRM range 4 to 6 4 to 6 6 to 7
Suggested minimum
timeframe
5 years 5 years 8 years
Sub-strategy N/A N/A N/A
Investment strategy Australian listed securities
Objective Aims to achieve returns over a medium to long-term via income and capital growth with a low level of
capitalsecurity.
Strategy Exposure to securities primarily listed on the ASX or expected to be listed.
Target return (% pa)
1
6.0% to 9.5%
3
Target risk (% pa)
2
14.5% to 21.5%
3
SRM range 6 to 7
Suggested minimum
timeframe
6 years
Sub-strategy Common shares
Listed company options
Hybrid securities
Share rights
Exchange Traded Funds (ETFs)/Exchange Traded Managed Funds (ETMFs)/LITs/LICs
4
Listed property investments
4
1
The target return rate is a long term expected return and not a forecast. Please refer to the Target risk and return section for further details.
2
The target risk is not a forecast. It is an annual measure of the expected change in the target return expressed as a percentage. Please refer to the
Target risk and return section for further details.
3
Range assumes a diversified investment portfolio.
4
The Trustee may categorise selected listed securities such as ETFs, ETMFs, LITs, LICs and Listed Property investments to another investment
strategy where such investment strategy is more consistent with the underlying investment characteristics of the security.
21
Understanding your Investments
Investment strategy Conservative Balanced Growth
Objective Aims to achieve returns over the
short to medium-term via income
and capital growth with a medium
to high level of capital security.
Aims to achieve returns over the
medium to long-term via income
and capital growth with a medium
to low level of capital security.
Aims to achieve returns over
the long-term via income and
capital growth with a low level of
capitalsecurity.
Strategy A diversified mix of income assets
such as money market and fixed
interest securities, and growth
assets such as property, shares
and alternative investments. The
weighting to growth assets will
generally not exceed 33%.
A diversified mix of income assets
such as money market and fixed
interest securities, and growth
assets such as property, shares and
alternative investments. The weighting
to growth assets will generally fall
between 33% and67%.
A diversified mix of income assets
such as money market and fixed
interest securities, and growth
assets such as property, shares
and alternative investments. The
weighting to growth assets will
generally exceed 67%.
Target return (% pa)
1
3.0% to 5.5% 4.0% to 7.0% 5.5% to 8.0%
Target risk (% pa)
2
3.0% to 7.5% 5.0% to 13.0% 10.5% to 16.5%
SRM range 3 to 4 4 to 6 6
Suggested minimum
timeframe
4 years 4 years 4 years
Sub-strategy N/A N/A N/A
Promoting your financial interests
The Trustee, in establishing investment strategies and making
available Eligible Investments within those strategies, promotes
your financial interests by providing you and your adviser
(where one is linked to your account) with broad investment
choice. This allows you and/or your adviser to choose those
investments that you believe will help you achieve your desired
outcome as it relates to your account.
To assist you and/or your adviser in this regard, the Trustee has
in place investment limits, monitors those limits, conducts stress
testing and conducts other monitoring over member accounts
as it deems necessary. Where the results of these monitoring
activities are outside the Trustee’s tolerance levels, the Trustee
will provide you and/or your adviser with information relating to
the results to help promote your financial interests.
Investment limits
As part of the Trustee’s obligation to members and having taken
into account a range of factors including risk, diversification
and liquidity, some restrictions have been placed on certain
types of Eligible Investments at the point of purchase. These
restrictions are designed to reduce the potential for large losses
by encouraging diversification and to provide adequate liquidity
to meet payments and satisfy regulatory requirements.
The investment limits are designed with reference to all
Eligible Investments available within the Fund itself and do not
consider your personal financial circumstances. You should
ensure that your account’s investment mix remains consistent
with your chosen investment strategies and risk tolerance.
Please note: Limits do not eliminate the risk of large
losses or insufficient liquidity. We will advise you
and your adviser at least annually if you are outside
theselimits.
We may change our limits on Eligible Investments and may
also place additional limits upon individual Eligible Investments
within each investment strategy at any time. If we determine
that our suggested investment limits are to be amended
we will endeavour to provide you and/or your adviser with
advance notice of the change; however, this may not be
possible in all circumstances. Accordingly, we reserve the right
to change the investment limits through our regular updates of
the Investment Menu.
Monitoring of limits
The Trustee undertakes to monitor the investment limits at least
annually and we will inform you and your adviser where your
investments are outside the investment limits or where you hold
an investment that is no longer an Eligible Investment.
You and/or your adviser should carefully consider any
investments you hold that are outside the investment limits or
where you continue to hold an investment that is no longer an
Eligible Investment.
How the limits are applied
The investment limits are taken into account at the time you
purchase Eligible Investments online through your account.
Where a requested transaction will result in your investment
holding moving outside an approved limit, your transaction
may be rejected by the Trustee. However, there may be limited
circumstances in which the Trustee does not enforce the
investment limits, such as where investments are transferred into
the Fund in-specie or where some automated transactions (such
as dollar cost averaging or automatic rebalancing) are processed.
We will notify you and your adviser on a periodic basis, at
least annually, if your superannuation account is exceeding the
investment limits. You and/or your adviser should ensure your
superannuation account’s investment mix remains consistent with
your chosen investment strategies and risk tolerance.
1
The target return rate is a long term expected return and not a forecast. Please refer to the Target risk and return section for further details.
2
The target risk is not a forecast. It is an annual measure of the expected change in the target return expressed as a percentage. Please refer to the
Target risk and return section for further details.
22
Understanding your Investments
Stress testing
On an ongoing basis, the Trustee will conduct market risk stress testing analysis on all member portfolios. The analysis aims to
identify portfolios that could be impacted the most by adverse market conditions. These portfolios are identified by applying various
performance scenarios and comparing the impact of these scenarios on all member portfolios. Members are identified as having
a higher level of investment risk where, under stress test conditions, their loss is greater than the loss of a theoretical benchmark
portfolio. We will inform you or your adviser, at least annually, if your portfolio is identified as having a higher level of investment risk
than the theoretical benchmark portfolio under our market risk stress testing analysis.
What are the investment limits?
The investment limits applied to individual Eligible Investments are contained within the Investment Menu and are subject to change
from time to time at the discretion of the Trustee. The Trustee overrides or imposes limits additional to those described below
where it believes this is consistent with the best interest of members. The full list of investment limits is available free of charge on
our website at macquarie.com.au/supermenu and through bulletins provided to advisers.
Investment type
Maximum of your balance
that can be invested
Australian listed securities
Any single
Australian listed
security
Any security within the S&P/ASX 100 index 25% (per security)
Any security within the S&P/ASX 200 index (and not in the S&P/ASX 100 index) 15% (per security)
Any security outside the S&P/ASX 200 index 10% (per security)
Aggregate
Australian listed
security limits
All securities outside the S&P/ASX 200 index 40% (in total)
All securities outside the S&P/ASX 300 index 20% (in total)
All securities in any single S&P/ASX Global Industry Classification System
(GICS) industry group
50% (in total)
All options 25% (in total)
All securities outside the S&P All Ordinaries index with insufficient liquidity
1
0% (in total)
Managed investments
Any single
managed
investment
Moderately diversified investments
2
50% (per investment)
Non-diversified investments
3
10% (per investment)
All Eligible Investments
Aggregate Eligible
Investment limits
Investments with, or greater potential for, limited liquidity
4
40% (in total)
Please note: No limits apply to investments in the Wrap Cash Hub or term deposits.
Where applicable, Australian listed securities are classified in accordance with the definitions of the exchange. The value of options
and hybrids (or equivalents) related to a different listed security or managed investment, may be added to the value of such related
investment for the assessment of investment limits.
In some instances Australian listed securities may be treated as a “managed investment” for the purposes of applying the
investment limits where the Trustee deems this to be more consistent with the underlying investment characteristics of the security
(mostly applicable to ETFs, LITs, LICs or listed property investments).
1
Australian listed securities with a 180-day average total trading value of less than AUD $100,000 unless market maker support or off market liquidity
is available to the satisfaction of the Trustee.
2
As assessed by the Trustee relative to its investment strategy from time to time. For example, sector, region or theme specific investments within
the Australian shares investment strategy.
3
As assessed by the Trustee relative to its investment strategy from time to time. For example, concentrated direct property, single currency, single
commodity or otherwise concentrated investments relative to their particular investment strategy.
4
As assessed by the Trustee from time to time. Australian listed securities with a 180-day average total trading value of less than AUD $100,000
unless market maker support or off market liquidity is available to the satisfaction of the Trustee. Managed investments with suspended redemptions,
periodic redemption facilities or where the underlying assets heighten the potential of portfolio-wide liquidity restrictions.
23
Fees and other costs
1
The fees and costs of this superannuation product are generally not negotiable with the Trustee or your adviser. However, the fees and costs
payable to your adviser or adviser’s firm can be negotiated with your adviser. Your adviser’s contact details are in the Financial Services Guide that
your adviser provided to you.
2
If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, the total
combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. Any amount
charged in excess of that cap must be refunded. Any refund paid will be pro-rated where you do not hold the account for the full income year.
3
These fees are estimates only, based on information provided by the product issuers, for a previous financial year.
4
In the case of separately managed accounts (SMAs) a portion of this fee is a direct fee that is deducted from the cash holding within the SMA.
Did you know?
Small differences in both investment performance and fees and costs can have a substantial impact on your long
term returns.
For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return
by up to 20% over 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 or your employer, as applicable, may be able to negotiate to pay lower fees.
Ask the fund or your financial adviser.
1
To find out more
If you would like to find out more, or see the impact of these fees based on your own circumstances, the Australian Securities
and Investments Commission (ASIC) website (www.moneysmart.gov.au) has a superannuation calculator to help you check
out different fee options.
This document shows fees and other costs that you may be charged. These
fees and other costs may be deducted from your money, from the returns on
your investment, or from the assets of the superannuation entity as a whole.
Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will depend
on the nature of the activity, advice or insurance chosen by you. Entry fees and exit fees cannot be charged.
Taxes, insurance fees and other costs relating to insurance are set out in another part of this document.
You should read all the information about fees and other costs because it is important to understand their impact on your investment.
The fees and other costs for each investment option made available by the entity are set out in the relevant PDS for each
investment option.
Fees and other costs table
Super and Pension Manager II
Type of fee Amount How and when paid
Investment fee
2
The investment fees range from 0.00% to 6.82%
per annum of each managed investment’s
(including SMAs) assetvalue.
3
Where applicable, performance related fees
have been included in the investment fee range
shownabove.
Managed investments
Payable to the product issuer of each managed investment
as an indirect fee.
4
These investment fees are not charged by the Trustee.
Theamounts shown here are estimates of the fees
charged by the product issuers of the managed
investments available and are generally reflected in the unit
price of each managed investment.
Refer to the relevant PDS for each managed investment
and SMA for details on how and when these fees
arecharged.
24
Fees and other costs
Super and Pension Manager II
Type of fee Amount How and when paid
Administration fee
1
Each investment holding: Payable to the Trustee.
Calculated monthly on the daily closing balance of each
investment holding, excluding the Wrap Cash Hub. Paid
by a deduction from your holding in the Wrap Cash Hub,
generally in the first week of the month after the fees
accrue or upon closure of your account. This fee applies to
each of your holdings including each managed investment
(including SMAs), Australian listed securities and term
deposits in your account but is not charged on your
holdings in the Wrap Cash Hub.
On the first 50,000 0.59% pa
Amounts above $50,000 0.10% pa
A minimum administration fee (across your total
account) of $33 per month applies.
A Wrap Cash Hub administration fee of up to
1.50% pa applies to the daily balance of the Wrap
Cash Hub.
Payable to the Trustee, the Wrap Cash Hub administration
fee is not separately deducted from your holding in the Wrap
Cash Hub and is charged before interest is credited to the
Wrap Cash Hub at the end of each quarter.
Buy/sell spread The buy/sell spread ranges from 0.00% to
2.50% for the managed investments available.
2
Buy/sell spreads are not charged by the Trustee. You may
incur a buy/sell spread as a consequence of buying and
selling a managed investment (or a managed investment
being bought or sold within an SMA) which is a fee
charged by the product issuers of managed investments in
either of two ways:
by reducing the particular managed investment’s
performance (unit price), or
by adjusting the application and/or withdrawal price.
Refer to the relevant PDS for each managed investment for
details on how and when buy/sell spreads are charged.
Switching fee Nil. Not applicable.
Advice fees relating
to all members
investing in a particular
investment option
Nil. Not applicable.
Other fees and costs
3
Transaction fees charged by the Trustee on the
buy, sell and switch transactions of managed
investments, SMAs, Australian listed securities,
corporate actions and term deposits, including
dollar cost averaging, automatic and on-demand
rebalancing and automatic cash management
transactions: nil.
Not applicable.
Brokerage on listed security transactions may also
apply and the amount charged will depend on
your nominated broker. See Brokerage on listed
security transactions in the Additional explanation
of fees and costs section for more information.
Payable to the nominated broker.
Brokerage is calculated by your nominated broker and
payable at the time of each transaction. Brokerage will
be added to the cost or deducted from the proceeds of
eachtransaction.
Incidental fees may apply where you make
certain requests or transactions on your account.
See Incidental fees in the Additional explanation
of fees and costs section for more details.
Payable to the trustee and charged at the time of the
relevant activity.
Indirect cost ratio
1
Nil. Not applicable.
1
If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, the total combined
amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. Any amount charged in excess
of that cap must be refunded. Any refund paid will be pro-rated where you do not hold the account for the full income year.
2
These fees are estimates only, based on information provided by the product issuers of the available managed investments, for a previous financial year.
3
Other fees and costs such as activity fees, advice fees for personal advice or insurance fees may apply. See the Additional explanation of fees and costs
section for further information.
25
Fees and other costs
Example of annual fees and costs
1
This table gives an example of how the fees and costs for the Vanguard Growth Index Fund
2
investment option for this
superannuation product can affect your superannuation investment over a 1 year period. You should use this table to compare
this superannuation product with other superannuation products.
Example – Vanguard Growth Index Fund
investment option Balance of $50,000
Investment fees 0.29% pa
3
For every $50,000 you have in the superannuation product which is invested
in the Vanguard Growth Index Fund, you will be charged $145 each year.
4
PLUS Administration fees $396 pa And, you will be charged $396 in administration fees each year.
5
PLUS Indirect costs for the
Superannuation product
Nil And, indirect costs of $0 each year will be deducted from your investment.
EQUALS Cost of product If your balance was $50,000, then for that year you will be charged fees of
$541* for the superannuation product where your balance is invested in the
Vanguard Growth Index Fund.
* Note additional fees may apply. See the Additional explanation of fees and costs section for other fees and costs which may apply.
1
This example of a balanced investment option is provided for illustrative purposes only and is not a reliable indication of the fees and costs that
may be applicable for other investment options. For the purposes of this example, a balanced investment option means an investment option in
which the ratio of investment in growth assets, such as shares or property, to investment in defensive assets, such as cash or bonds, is as close
as practicable to 70:30. You should look at the PDS and other disclosure documents of the relevant investment options for the fees and costs
applicable to those investment options.
2
Vanguard is a trademark of The Vanguard Group, Inc.
3
Excludes net estimated transaction and operational costs of 0.04% pa.
4
The investment fee is an estimate based on information provided by the issuer of the managed investment and is applied to the total value of your
investment in that managed investment.
5
The applicable administration fee depends on the balance in your account. The administration fee is calculated on the daily closing balance of each
investment holding in of your account, excluding the Wrap Cash Hub. Based upon the prescribed balance of $50,000, the minimum administration
fee of $33 per month ($396 per annum) would apply. See the Fees and other costs table for further details.
This is an example only and what it costs you will depend on the investment options you hold and the fees you negotiate with
your adviser.
To understand all the fees and costs payable, including those which apply to the Eligible Investments and Eligible Insurance
that you hold, you should look at both this PDS and the PDS for the relevant Eligible Investments and Eligible Insurance.
26
Fees and other costs
Detailed example of fees and costs
1
Example: $250,000 account
The following example uses an account invested for 12 months consisting of:
an average daily balance of $5,000 in the Wrap Cash Hub
a managed investment with an average daily balance of $95,000
one term deposit, one SMA and one Australian listed security, each with an average daily balance of $50,000, and
no additional adviser transaction fees.
Initial advice fee
If you agree with your adviser to an initial advice fee of $2,000, the total initial advice fee you will pay upon opening your
account will be as follows:
Initial advice fee $2,000 + 2.554% net GST $2,051.08
Fees and costs
If you have four investments in your account (refer below) for one full year, the fees and costs will be as follows:
Administration fee
(charged by Trustee)
Managed investment
(eg Vanguard Growth Index Fund)
($50,000 x 0.59%) + ($45,000 x 0.10%)
$340
Australian listed security
$50,000 x 0.59%
$295
SMA
$50,000 x 0.59%
$295
Term deposit
$50,000 x 0.59%
$295
Wrap Cash Hub administration fee
(charged by Trustee)
Wrap Cash Hub $5,000 x 1.50% $75
Investment fee
(charged by product issuers)
Managed investment
(eg Vanguard Growth Index Fund)
$95,000 x 0.29%
$275.50
Australian listed security
$50,000 x 0.00%
$0
SMA
$50,000 x 1.14%
$570
Term deposit
$50,000 x 0.00%
$0
Total fees and costs
2
0.86% $2,145.50
Adviser service fee
If you agree with your adviser to an advice service fee of 0.50 per cent per annum based on an average account balance of
$250,000 over one full year, the total adviser service fee will be as follows:
Adviser service fee ($250,000 x 0.50%) + 2.554% net GST $1,281.93
1
References to “net GST” in the fee example mean the cost to you after the effect of any Reduced Input Tax Credit (RITC) that has been applied to
the GST. We may be able to claim a RITC of between 55 per cent and 75 per cent of the GST paid on some of these fees. Where we are able to
claim a RITC, we will pass the benefit of this on to you.
2
There may be additional costs that apply, including buy/sell spreads, transactional and operational costs and/or Government levies. See the
Additional Explanation of Fees and Costs section for additional fees that may apply.
This example is provided to assist you in understanding the fees and other costs that may be payable on your account. It is
not representative of the actual fees that you will pay. The fees payable on your account may depend upon a number of factors
including, but not limited to, your total account balance, the balance of each investment option, the investments that you select
and the arrangements that you have with your adviser.
27
General information about fees and costs
The total fees and charges you pay will include the costs of
this product as well as the cost of any Eligible Investments
and Eligible Insurance that you choose. It is important that
you understand the fees and costs of any Eligible Investments
and Eligible Insurance that you choose, and that those fees
and costs are in addition to the fees charged by us for the
product, together with transaction and account costs incurred
on your behalf. The fees and costs of the Eligible Investments
and Eligible Insurance you choose will generally be set out
in the PDS and other disclosure documents for the Eligible
Investments and Eligible Insurance.
Except where noted, fees will be debited from the Wrap Cash
Hub, generally in the first week of the month after the fees
were accrued or upon closure of your account. If you have
insufficient available cash in the Wrap Cash Hub, we reserve
the right to sell down your holdings to top up the Wrap Cash
Hub to the required minimum and deduct outstanding fees.
For further information, please refer to the Transacting section.
Increases or alterations in the fees and costs
We reserve the right to increase the fees and charges
outlined in the PDS, and to charge for other miscellaneous
services, without your consent. We will give you notice, as
required by law, if any new fees are introduced or if fees or
chargesincrease.
The trust deed (available from us free of charge) allows us
to charge an administration fee of up to 2 per cent of the
balance of your account (subject to a minimum of up to
$100 per month, which may be indexed each year to the
consumer price index (CPI)), as well as fixed dollar transaction
fees of up to $50 (which may be indexed each year to the
CPI), arising from buying and selling investment options,
including contributions, withdrawals, switching, automatic
rebalancing, direct debits, automatic cash management and
dollar-cost averaging. The maximum fees outlined above may
be increased by GST (or similar) payable by us on those fees
net of the effect of RITC where available. From time to time,
changes to legislation or to the nature of fees may impact the
availability of RITCs in relation to particular expenses. If the
RITC entitlement in relation to any of these fees changes, we
may pass on the additional cost to you.
The Trustee may increase certain dollar amounts specified in
the trust deed, in accordance with increases in the CPI each
year. Any increase will not be greater than the percentage
change in the CPI since the inception of Super and Pension
Manager II, 23 November 2019, or the last recalculation.
We may be reimbursed from the Fund for certain expenses
incurred in the administration of the Fund. Costs we may
recover include litigation expenses. In the event that such
expenses are incurred and are able to be reimbursed, this will
be in addition to the ongoing administration and management
charges stated previously.
In addition, we have the right to increase the incidental fees for
telegraphic transfers.
Fees relating to the Wrap Cash Hub
The Wrap Cash Hub administration fee represents the
difference between the interest rate the Trustee earns on the
underlying deposit(s) with MBL and the interest rate paid by
the Trustee to you.
This fee is deducted before any interest is credited to
youraccount.
Additional explanation of fees and costs
The fees shown in the Fees and other costs section and this Additional explanation
of fees and costs section are inclusive of the net effect of Goods and Services Tax
(GST) unless expressly stated otherwise. We may be able to claim a reduced input
tax credit (RITC) of up to 75 per cent of the GST paid on some of these fees. This
may include fees for certain brokerage services, investment portfolio management,
administrative functions and custodial services. We may also be able to claim an
RITC of 55 per cent of the GST paid on some of the other fees charged. Where
we are able to claim an RITC, we will pass the benefit of this on to you.
28
Additional explanation of fees and costs
Further details about fees
Fees on linked accounts
Where the balance of your account is insufficient to cover any
outstanding fees and charges, we may collect the fee from
another account in your name you hold within the Fund.
Minimum monthly fee
Fees commence accruing on your account following your first
contribution or rollover. The minimum monthly fee will apply
irrespective of the size of your initial deposit, even if it is below
the required minimum balance.
Fees applicable during a month
The fees set up on your account as at the end of a given
month (or on or before the day when your account is closed)
will be the fees applicable for that month (or part thereof if the
account is opened or closed within that month). For example,
if you change a fee amount mid-month, the fee collected for
that month will be based on the new fee.
Where we receive notice that the adviser on your account has
changed during the month, the new adviser will receive all fees
applicable for that month, based on the fees applicable at the
end of themonth.
Industry levies
Where industry-wide costs or levies (such as APRAs
SuperStream levy) are imposed on the Fund by government or
regulatory bodies we may, where permitted by the trust deed,
pass on all or some of these costs to you.
Changes in valuations
In some instances the value of your portfolio on a date in the
past may be updated. Examples of when this may occur are
where a product issuer corrects a unit price error or where an
incorrect price was provided to us and we correct the error.
In these circumstances there will be no recalculation of any
fees already charged to your account.
Changing or removing your adviser
In some instances your adviser’s dealer may negotiate an
arrangement whereby a rebate of the standard administration
fees shown in the Fees and other costs table is applied. In
such cases, we will pass on this rebate to you in the form of a
reduced administration fee.
If you choose to change your adviser who is linked to your
account or your adviser chooses to change their dealer, this
may result in a change to this rebate. This could lead to an
increase or decrease in the net administration fees paid,
depending on the rebates applicable to you under each
adviser and/or dealer.
Where you remove the adviser who is linked to your account
or your adviser chooses to change their dealer, this may result
in the removal of an applicable rebate, which could lead to an
increase in the net administration fees paid to the standard
rates disclosed in the Fees and other costs table.
You may wish to consider the impact this may have on your
account when making any adviser and/or dealer changes.
Broker handling fees
Some corporate actions pay handling fees. In those events,
the Authorised Broker is appointed as your broker for the
purpose of handling the action, and may retain any applicable
handling fees. The Authorised Broker may pay those fees
onto your broker or adviser where entitled and claimed within
specified timeframes. These fees are not an additional cost
toyou.
Incidental fees
You may incur incidental fees resulting from certain requests or transactions on your account. These are as follows:
Incidental fees Payable to the Trustee
Failed trade fee
If you have insufficient available cash in the Wrap Cash Hub to pay for a
purchase or if you instruct the Trustee to sell assets that are not held in
youraccount.
$36.00 per day until settlement or cancellation (the
relevant exchange may also charge a fee).
Dishonour fee
If a direct debit from your nominated Australian financial institution is returned
unpaid or your cheque is dishonoured.
The Wrap Cash Hub will bear any fees associated with
the dishonour, when they are charged to us.
Telegraphic transfers
If you request a withdrawal via telegraphic transfer (overseas or domestic).
$35.00 per request.
29
Additional explanation of fees and costs
About adviser fees
Super and Pension Manager II offers members a number of
options, in particular providing a wide variety of investment
options. To assist you in making decisions, we can engage
your adviser to provide you with personal advice on your
account in Super and Pension Manager II. You negotiate the
fees for such advice with your adviser.
With your authority, we will pay those fees to your adviser. We
will deduct the fees we pay to your adviser from your account.
In the application form or in other communications to us from
your adviser, you must give an authority for us to pay specified
fees to your adviser and deduct the amount of those fees from
your account. We will not pay the fees without that authority
or if the amount is not specified. We will also not pay the fees
to the extent we believe doing so would lead to a breach of
superannuation law. Broadly, under superannuation law we
can deduct from your account only fees that relate entirely to,
and are reasonable for, advice concerning your Super and
Pension Manager II account. Any advice or financial services
provided to you by your adviser in relation to matters not
concerning your account in Super and Pension Manager II
must be paid for by you and cannot be deducted from your
account.
By completing and submitting the application form or signing
other communications to us from your adviser, you confirm
that these fees are for services relating solely to your account
and you authorise us to pay the amounts described to your
adviser and deduct the amount from your account. There are
no maximum adviser service fees; however, we are able to
reject the amount of adviser service fees if we believe they are
unreasonable, excessive or where we believe they may not be
permissible under superannuation law.
The types of advice fee for personal advice that may be
agreed with your adviser are set out in the table below.
Type of fee Amount How and when paid
Initial advice fee You and your adviser may negotiate the
amount of the initial advice fee (if any)
that your adviser will be paid.
1
This is a one-off dollar-based fee payable to your adviser, debited
from the Wrap Cash Hub, generally in the first week of the month
after the fees were accrued or upon closure of your account.
Transaction fees
payable to your
adviser
You and your adviser may negotiate the
amount of the adviser transaction fee (if
any) that your adviser will be paid.
1
This fee is payable to your adviser and calculated at the time of each
buy transaction based upon the number of buy transactions and/or
the value of each buy transaction and debited from the Wrap Cash
Hub, generally in the first week of the month after the fees were
accrued or upon closure of your account.
Brokerage costs
payable to your
nominated broker
If you have agreed for brokerage to be
paid, it will be paid to your nominated
broker when buying and selling
Australian listed securities.
Brokerage is calculated by your nominated broker and payable at
the time of each transaction. Brokerage will be added to the cost or
deducted from the proceeds of each transaction.
Other adviser fees
payable to your
adviser
Adviser fees
1
are negotiated between
you and your adviser and can be made
up of the following:
Adviser service fee, and
Adviser ad hoc service fee.
Adviser service fee: a percentage and/or dollar-based ongoing
monthly fee. If percentage-based, it will be calculated on the daily
closing balance of your account.
Adviser ad hoc service fee: a one-off, dollar-based fee. Calculated
and charged as per the agreement with your adviser.
Adviser service and adviser ad hoc services fees are debited from the
Wrap Cash Hub, generally in the first week of the month after the fees
were accrued or upon closure of your account.
Adviser service fees
Depending on what is agreed with your adviser, the adviser service fee listed in the table above, may be structured in one of four ways:
1. tiered structure, specifying a percentage to apply at different account values, or
2. flat percentage structure, specifying a percentage to apply to the total value of your account, or
3. flat dollar structure, specifying a flat (fixed) dollar amount, or
4. flat dollar structure together with either a tiered structure or a flat percentage structure.
If percentage-based, the relevant fee will be charged monthly and calculated on the daily closing balance of your account.
1
We may be able to claim an RITC of up to 75 per cent of the GST paid on some of these fees. Where we are able to claim an RITC, we will pass
the benefit of this on to you.
30
Additional explanation of fees and costs
Indexation
You and your adviser may also agree to set increases to your
ongoing adviser service fees, with the increase taking effect
each year at the 12 month anniversary of the instruction being
received, by either:
a flat percentage, or
the CPI.
Where you have agreed with your adviser to index your
ongoing adviser service fees to the CPI, this will be calculated
by annualising the CPI All Groups Eight Capital Cities index
between 1 April and 31 March each July. The use of this CPI
measure is current as at the time this document is issued, but
may be subject to change where the CPI measure significantly
differs from historical levels.
Initial advice fee
This may only be structured as a one-off dollar-based fee.
Adviser ad hoc service fee
This fee may only be structured as a fixed dollar amount.
Adviser transaction fee
You can agree to a specific adviser transaction fee with your
adviser for non-automated transactions. Adviser transaction
fees for non-automated transactions can be structured
as either a fixed dollar amount per buy transaction or as
a percentage of the value of buy transactions made by
your adviser. Adviser transaction fees are not available for
automated transactions (dollar cost averaging, automatic
rebalancing and autocash management).
Adviser fees across grouped accounts
You can elect to group accounts for adviser service fee
purposes. When grouped, adviser service fees will apply to the
total balance of grouped accounts. The adviser service fees
charged to your account will be in proportion to your account
balance and what it represents as part of the total balance.
All accounts in the group must have the same adviser under
the same adviser code linked to their account.
Eligible accounts to group can consist of accounts held by
your spouse, de facto or domestic partner, children, parents
or siblings and any company, trust or self-managed super
fund where you or any of the individuals listed above are the
directors, trustees or beneficiaries.
Fees when your adviser changes
Your adviser service fee arrangements may change or cease
where, for example:
you change your adviser to a new adviser who is licensed
to/under a different dealer group
your adviser’s dealer changes
you cease to have an adviser, or
you do not renew an ongoing fee arrangement with your
adviser or adviser’s dealer.
Where such an event occurs, it is important you inform us of
the event and any changes to the fee arrangement with your
adviser. Otherwise, we may stop paying the adviser service
fees under the existing fee arrangement. Where we are not
informed that an adviser arrangement has ceased, the adviser
service fees may continue to be paid.
Any fees accrued for a month will be paid to the adviser who
is linked to the account at the end of the month.
In some circumstances, we may be informed of a change of
adviser and/or dealer group through your existing adviser’s
dealer group. Where this occurs, existing adviser service
fee arrangements may be maintained if you continue to be
provided advice services.
Changing or removing the adviser and/or dealer may change
the administration fees payable by you. Refer to Changing or
removing your adviser for more details.
Adviser service fees upondeath
In the event of your death, existing adviser service fees will
cease to be charged.
If adviser service fees are to be charged on the account, the
executors or administrators of your estate will be required to
enter into a new fee arrangement with an adviser and provide
the relevant fee instructions to us. In this instance, we will only
accept ad hoc adviser service fee requests.
Managed investment fees
As part of or in addition to the investment fees payable to
product issuers outlined in the PDS and other disclosure
documents, product issuers of managed investments may
charge the following fees.
Performance related fees
Investment fees payable to the product issuers (set out in
the table of Fees and other costs) include an estimate of
performance related fees payable for the relevant managed
investments. You may incur performance related fees as a
consequence of investing in the various managed investments.
These fees are generally included in the unit price and/or
distributions and are not debited directly from your account.
The current performance related fees (and the method of
charging them) that apply to each managed investment
should be set out in the relevant PDS and other disclosure
documents available online or from your adviser. Performance
related fees will change from time to time in accordance with
the rules specified by the individual product issuers.
Buy/sell spreads
You may incur buy/sell spreads as a consequence of buying
and selling managed investments. Buy/sell spreads are an
allowance for transaction expenses, such as brokerage,
so that individual investors in managed investments more
equitably share the costs associated with buying and selling
the underlying investments.
Buy/sell spreads apply at the time of each transaction and are
charged by the individual product issuers in one of two ways:
by reducing the particular investment option’s performance
(unit price), or
by adjusting the application and/or withdrawal price.
The current buy/sell spreads (and the method of charging
them) that apply to each investment option should be set out
in the PDS and other disclosure documents issued by each
productissuer.
31
Additional explanation of fees and costs
Generally, these amounts can vary from 0.00 per cent
to 2.50per cent (for example, between $0.00 and
$25.00 per $1,000). These are estimates only, based on
information provided by the product issuers of the available
managedinvestments.
Buy/sell spreads may change from time to time in accordance
with the rules specified by the individual product issuers. Buy/
sell spreads are charged directly by the product issuer; no
portion is retained by us. Buy/sell spreads are additional costs
that you incur only if you transact in managed investments.
Managed investment transactional and
operationalcosts
You may incur transactional and operational costs for the
managed investments that you hold. These are indirect fees
and costs payable to the product issuer of each managed
investment which are generally reflected in the unit price of
each managed investment. Refer to the relevant PDS and
other disclosure documents for each managed investment and
SMA for details on the applicable transactional and operational
costs and how and when these costs are incurred.
Brokerage on listed security transactions
Your nominated broker may charge brokerage on the
purchase and sale of approved Australian listed securities.
Brokerage is calculated and payable at the time of each
transaction and will be added to the cost, or deducted from
the proceeds, of the transaction.
When you open your account, the Authorised Broker is
automatically nominated as the online broker authorised to
purchase and sell approved Australian listed securities on your
account. This is an online execution-only service and, with
your authority, your adviser places these trades. Brokerage
will apply on all Australian listed security transactions placed
online through the Authorised Broker at a rate of 0.12 per cent
of the amount transacted up to a maximum brokerage charge
of $100. A minimum brokerage charge of $30 applies to each
online transaction. For example, for a trade of $100,000, the
Authorised Broker will receive a maximum amount of $100. If
a trade is partially filled and then amended, each amendment
that is filled is a new transaction when calculating brokerage.
Please refer to the Authorised Broker’s Financial Services
Guide, available from your adviser, for more details on
brokerage rates for online trades.
If you trade Australian listed securities through an alternative
approved broker, you and your adviser will negotiate the
brokerage costs directly with your nominated broker. You
should contact these brokers for information on the fees and
costs applicable for their service. Brokerage costs are paid
directly to your nominated broker.
Brokerage costs are additional costs that you incur only if you
transact in Australian listed securities. For further information,
please speak to your adviser or contact us.
For brokerage charges on listed security transactions within an
SMA, please refer to the PDS or other disclosure documents
for that product.
Payments made to or received from
otherparties
Where permitted by law, we may receive a product access
payment from product issuers which is typically up to $30,000
but no more than $200,000 per issuer per annum. For each
investment option on our Investment Menu we may also
receive up to $10,000 per annum. In some instances, if an
investment option requires additional administration by us,
these amounts may be increased to $23,000 per annum.
Some product issuers may pay us remuneration where this is
permitted by law. The exact payment is negotiated with each
product issuer. These payments come from each product
issuer’s own resources. Where we receive these payments, they
are passed on in full to you where you have an active account
with a holding in the relevant product at the time the payment
is being passed on to you. The amount we pass on to you will
be a pro-rata amount in proportion to your holdings against all
other holdings in the relevant product at the time of processing
the payment to you.
Separate to any fees you may agree with your adviser as set
out in this PDS, your adviser may receive benefits provided
by us at no extra cost to you. We reserve the right to decide
whether or not we will make these benefits available if
permitted by law and will cease to do so if required by law.
Where applicable, you may negotiate with your adviser to
rebate some benefits.
Where permitted by law, we may also draw on our own
resources to provide benefits such as technical support
or training and education benefits to licensed broking and
financial advisory firms, up to a maximum of the administration
fees disclosed in the Fees and other costs table.
We maintain records in relation to other forms of remuneration
that are provided to advisers and/or financial services
licensees, in accordance with applicable requirements. If you
would like to review these records, please contact your adviser.
Insurance
If you have selected insurance cover through your account, the
premiums payable will be deducted from the Wrap Cash Hub.
Refer to the relevant insurance PDS for further details in
relation to insurance premiums.
General advice
We rely on your adviser to provide you with personal financial
product advice. Any general advice we provide is free of charge.
Tax
For information about tax see the Understanding
superannuation section. The benefit of any tax deduction is
passed on to you in the form of a reduced fee or cost.
32
Additional explanation of fees and costs
Defined fees
Fee type Definition
Activity fees A fee is an activity fee if:
a. the fee relates to costs incurred by the Trustee that are directly related to an activity of the Trustee:
i. that is engaged in at the request, or with the consent, of a member, or
ii. that relates to a member and is required by law, and
b. those costs are not otherwise charged as an administration fee, an investment fee, a buy/sell spread, a
switching 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 Fund and includes costs that
relate to that administration or operation, other than:
a. borrowing costs, and
b. indirect costs that are not paid out of the Fund that the trustee has elected in writing will be treated as
indirect costs and not fees, incurred by the trustee of the Fund or in an interposed vehicle or derivative
financial product, and
c. costs that are otherwise charged as an investment fee, a buy-sell spread, a switching fee, an activity fee, an
advice fee or an insurance fee.
Advice fees A fee is an advice fee if:
a. the fee relates directly to costs incurred by the Trustee of the Fund because of the provision of financial
product advice to a member by:
i. the Trustee, or
ii. another person acting as an employee of, or under an arrangement with, the Trustee, and
b. those costs are not otherwise charged as an administration fee, an investment fee, a switching 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 Fund in relation to the sale
and purchase of assets of the entity.
Exit fee An exit fee is a fee, other than a buy-sell spread, that relates to the disposal of all or part of a member’s
interests in the superannuation entity.
Indirect cost ratio The indirect cost ratio (ICR), for an investment option offered by the Fund, is the ratio of the total of the indirect
costs for the investment option, to the total average net assets of the Fund attributed to the investment option.
Note: A fee deducted from a member’s account or paid out of the Fund is not an indirect cost.
Investment fees An investment fee is a fee that relates to the investment of the assets of the Fund and includes:
a. fees in payment for the exercise of care and expertise in the investment of those assets (including
performance fees), and
b. costs that relate to the investment of the assets of the Fund, other than:
i. borrowing costs, and
ii. indirect costs that are not paid out of the Fund that the trustee has elected in writing will be treated as
indirect costs and not fees, incurred by the trustee of the Fund or in an interposed vehicle or derivative
financial product, and
iii. costs that are otherwise charged as an administration fee, a buy/sell spread, a switching 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 Fund from one
investment option or product in the Fund to another.
33
Your investment instructions
Where you have an adviser linked to your account, your adviser
will carry out your investment instructions on your behalf online.
You will generally provide investment instructions to your
adviser according to the agreement you have with them. If you
cannot contact your adviser (or do not have one linked to your
account), you must give us written and signed instructions,
provided that you have received the relevant PDS and other
disclosure documents for these investments. These instructions
can be sent electronically, subject to the Electronic instruction
service requirements.
Subject to your adviser arrangement, instructions will be
acted on and effected as soon as practicable but there is no
obligation to do so by any particular time, nor any obligation
to enquire whether they are genuine or proper. In certain
circumstances your assets can be realised without obtaining
your instructions, with the proceeds paid to the Wrap Cash
Hub; for example, if your managed investment holding has
dropped below the minimum requirement. You are responsible
for any associated fees.
We will act on all instructions from your adviser or directly from
you except in limited circumstances, including if:
we suspect that you or your adviser are in breach of the
terms of this PDS
the authenticity of the instruction is in doubt
your instructions are unclear
following the instructions is contrary to the law or
relevantpolicy
you do not have sufficient available cash in the Wrap Cash
Hub to carry out the instruction
either your account and/or the Wrap Cash Hub would fall
below the minimum balance (or in certain circumstances,
your investment would exceed the Trustee’s investment
limits) if the instructions were carried out
you do not have sufficient investment holdings for us to carry
out the instruction
acting on them would be impracticable or would breach
relevant market practice, or
the instruction would result in the custodian holding a
security that is not on the Fund’s approved InvestmentMenu.
The Trustee will only invest in an investment option as directed
by you or your adviser subject to the investment limits.
The Trustee will only sell an investment option other than as
directed by you where:
the sale is required to ensure you have the minimum balance
required in the Wrap Cash Hub
the investment option is removed from the InvestmentMenu
the sale is required to pay for costs or expenses (eg tax or
insurance premiums)
a corporate action will result in you having an investment that
is not on the Investment Menu
your account becomes an inactive low balance account
(as defined in superannuation law) and we are required to
transfer your balance to the ATO (see Inactive accounts in
the Unclaimed money, temporary residents’ benefits and lost
accounts section for more details), or
the sale is required to top up the Wrap Cash Hub to fund
minimum pension payment requirements.
If we redeem your investments without your or your advisers’
instructions, we will generally redeem investments in the
following order:
daily transacting managed investments
SMAs
Australian listed securities
illiquid investments.
Accordingly, you bear the risk of your investment directions
and the Trustee is, to the extent permitted by law, exempted
from liability for any loss you sustain.
The Wrap Cash Hub
The Wrap Cash Hub will be used to:
credit all cash contributions and rollovers
fund investment purchases
receive proceeds from investments that are sold
receive income from investments, and
pay any fees, taxes and charges related to your account.
You authorise us to debit the Wrap Cash Hub with all fees
and taxes relating to your account and to pay fees and
charges to the person or entity entitled to them (including us
and our associates). We can suspend services to you if they
remainunpaid.
Holding sufficient cash
Before transacting on your account, you must have sufficient
available cash in the Wrap Cash Hub. If you sell assets within
your account, the proceeds cannot be used for another
transaction or withdrawal until settlement occurs and the
proceeds are cleared in the Wrap Cash Hub. If you transact on
your account with insufficient available cash, the transaction
may be rejected. Where a transaction is rejected for a listed
security, you may be charged a failed trade fee. In some
circumstances a trade for a listed security (where there is
insufficient available cash in the Wrap Cash Hub) will be funded
through the disposal of any managed investment(s) you hold.
If there is insufficient available cash in the Wrap Cash Hub
to meet any minimum pension payments, fees and/or costs,
pending transactions in Australian listed securities or if the
available cash in the Wrap Cash Hub drops below $500,
we may sell down your investment holdings to meet those
payments and replenish the Wrap Cash Hub to a balance of at
least $1,000.
In these circumstances, money will be drawn from the
following investments, starting with the highest balance,
generally in the following order:
daily transacting managed investments
SMAs
Australian listed securities
illiquid investments.
Any transaction instructions and/or automated plans to buy
assets will fail where they will result in your available cash
balance falling below the minimum balance requirement.
Transacting
34
Transacting
Managed investments and SMAs
Your adviser (on your behalf) will submit instructions online
to buy, sell or switch managed investments (including
SMAs). Product issuers have different rules relating to when
applications and redemptions will be accepted and processed.
Details of these rules and turnaround times can be found in
the PDS and other disclosure documents for each managed
investment and SMA.
If you cannot contact your adviser (or do not have an adviser
linked to your account), you must give us written and signed
instructions, provided that you have received the relevant PDS
and other disclosure documents for these investments.
Application
An application is the term used to describe the purchase of
units in a managed investment when the investment is being
funded from the Wrap Cash Hub.
Payment for your managed investment purchases will be
deducted from the Wrap Cash Hub on the day that we
apply for units in the managed investments. We will process
instructions as quickly as possible, depending on the
application process of each product issuer.
The unit price that you receive for managed investments is
determined by the product issuer. Where transaction requests
are placed online by your adviser prior to 12.00 noon Sydney
time on a Business Day, we will generally send instructions
to the product issuer on the same day. Where transaction
requests are placed online by your adviser after 12.00
noon Sydney time, these will generally be sent the following
Business Day. Where you do not have an adviser, we will act
on your instructions as soon as possible following receipt but
can not guarantee we will do so by any particular time.
Where managed investments have minimum investment
requirements, or the product issuer does not calculate a unit
price daily, it may take longer to process your instructions.
Redemption
A redemption is the term used to describe the sale of units
or other interests in a managed investment. Redemption
proceeds are credited to the Wrap Cash Hub.
Redemption proceeds cannot be used to process a
withdrawal from the Wrap Cash Hub until settlement occurs
and the money is cleared in the Wrap Cash Hub.
Switching between managed investments
A switch is the term used to describe the redemption of a
managed investment (or multiple managed investments) and,
instead of the proceeds being directed to the Wrap Cash Hub,
the funds are directed straight to another managed investment
(or multiple managed investments).
The minimum amount that can be switched between
managed investments is $100. If we receive an instruction to
switch (or redeem) an amount that will result in less than $250
remaining invested in a particular managed investment (except
the Wrap Cash Hub), we may process that instruction as a full
redemption from that managed investment.
Where your adviser places an order for a full redemption from
one managed investment with the proceeds being switched
into more than one managed investment, we will convert the
buy dollar amounts to a percentage of the sale order. Once
the sale proceeds are received, reciprocal buy orders are
created and sent to market.
Please refer to your adviser for further details.
Switching pension investments (Pension only)
Switching between managed investment options within your
pension account can occur at any time, unless there are
insufficient investments in your account to cover the next
pension payment. When a switch is requested, you or your
adviser may be required to amend the amount being switched
or change the pension payment options.
Managed investments that do not transact daily
Some managed investments do not process applications or
redemptions on a daily basis. If you instruct us to apply for or
redeem a non-daily transacting investment or another illiquid
investment, we will process this transaction in accordance
with the product issuer’s timetable. In some cases this could
be three months or more after we receive your instructions
and extended delays may be experienced. Please refer to the
relevant PDS and other disclosure documents or your adviser
for further information.
Australian listed securities
Your adviser (on your behalf) may buy and sell eligible
Australian listed securities online via the Authorised Broker.
We will use the available cash in the Wrap Cash Hub to settle
any purchases of approved Australian listed securities. We will
withdraw cash to pay for the purchase on the same day, or
within one day of being notified by your broker of the trade.
You may be charged a failed trade fee if you do not have
sufficient available cash in the Wrap Cash Hub to perform
a trade. Any proceeds from the sale of eligible Australian
listed securities should be available in your account the next
Business Day after settlement.
All online orders placed to buy or sell eligible Australian listed
securities will be conducted on a ‘market-to-limit’ basis.
Orders can also be placed ‘at-limit’. This enables buy or sell
orders to be placed at a specific price. An ‘at-limit’ buy order
will only execute at the limit price or lower, while an ‘at-limit’
sell order will only execute at the limit price or higher. ‘Market-
to-limit’ orders may only be partially filled at the prevailing
market price at the time the order is placed.
If you would like your order to be fully executed at ‘market-
to-limit’ in accordance with available price/volumes, your
adviser will be responsible for amending your initial order. In
the event that the whole, or part, of your order is filled prior to
its amendment or cancellation, you will be liable to settle the
whole or partially filled order.
A single order may consist of more than one transaction. For
example, if an order is partially filled and then amended, each
amendment that is filled is a new transaction.
You and your adviser are unable to trade on a conditional or
deferred settlement basis.
35
Transacting
Offline trading is available through a nominated broker
from our list of approved brokers, which is available from
youradviser or us.
If you wish to nominate a broker, the broker must be
nominated on the application form or subsequent notification
to us. If you wish to change or nominate a new broker, you
should contact your adviser.
Trade confirmations are not provided for Australian listed
securities transactions when trading via the Authorised Broker.
Physical settlement of underlying assets
Conversion or settlement into the physical underlying assets
of an investment you hold cannot be administered on the
platform. Such investments include, but are not limited to:
CHESS Depository Interests
Exchange Traded Funds
Exchange Traded Commodities
Exchange Traded Certificates.
Corporate actions
We refer to corporate actions as any event that brings material
change to a company and affects its stakeholders such as
shareholders. Typically, corporate actions relate to shares in
companies and interests in some managed investments. These
may affect the capital structure of the security, or the number
or type of securities held on your behalf. These types of actions
can be mandatory, such as share reconstructions, or voluntary,
such as entitlement offers and share purchase plans.
In some circumstances we will ask you to make a decision
regarding your preferred course of action for a corporate action,
but in others, we may make a decision in relation to the corporate
action if we are required to do so under the Fund’s trust deed or
where we determine to do so is in the best interests of members
and in accordance with our other duties. For example, where a
corporate action will result in an ineligible investment, we may
be required to sell an investment (before or after the corporate
action) or, if we are given the option of receiving cash or an
investment, unless you decide to receive the investment and
the investment is on the Investment Menu we must choose the
option that would result in the payment of cash.
We may refuse to act on your instructions if to do so would
result in the Fund acquiring an asset that is not on the
Investment Menu, is inconsistent with our Trustee duties (for
example, if the Fund is not permitted to hold such an asset),
or if superannuation law forbids it. You and/or your adviser are
also responsible for checking the Trustee investment limits that
apply, prior to submitting your instruction.
Where it is available, we will endeavour to provide relevant
information to your adviser about corporate actions impacting
your account directly through the corporate actions calendar,
viewable by your adviser online. Your adviser must use the
corporate actions calendar to check for any corporate action
information that may be relevant to your account or require
your action.
When a corporate action occurs and we ask you for
instructions, we must be given those instructions at least three
Business Days prior to the published closing date of the action
(the cut-off date), unless we specify otherwise. For the issuance
of new securities, we must generally be given instructions eight
Business Days prior to the published close date.
The online instruction is final and no changes are able to be
made to this instruction. By submitting the online instruction you
and your financial adviser confirm you have read and understood
all documents issued in relation to the corporate action.
If a corporate action requires payment, you must ensure
the Wrap Cash Hub has sufficient funds to complete the
transaction. If you do not have sufficient cleared funds available
in the Wrap Cash Hub at the time your instructions are received
by us and retain sufficient cleared funds in the Wrap Cash Hub
until such time as we process the relevant transaction, the
transaction will not be processed and we have no liability in
relation to the corporate action.
Where notice is received after the applicable cut-off date, or
you have insufficient funds available at the time of processing,
you may not be able to participate in the corporate action, and
we are not liable to you for any potential loss of opportunity
arising in thosecircumstances.
If you do not have an adviser, you are responsible for
monitoring upcoming corporate action events. If you would like
to participate, you must contact us at least eight Business Days
before the published closing date of the action.
In certain circumstances, subject to the trust deed, we may take
a variety of actions to remove or avoid us taking assets which do
not fit within the investment options or strategies that we offer.
These actions might include not processing a corporate action or
disposing of an asset before or after the corporate action.
You cannot vote at shareholder or unit holder meetings. You
cannot participate in bonus share plans (offered on some
securities, enabling security holders to elect to receive fully paid
bonus shares instead of cash dividends) on investments held in
your account.
The Trustee will exercise voting rights, on behalf of the Fund,
where required by any applicable laws or regulations and in
accordance with our voting policies.
Partly paid securities
Partly paid securities are generally not an approved platform
security. Where you hold partly paid securities, please ensure
you have sufficient available cash in the Wrap Cash Hub to
meet unpaid instalment payments when required.
If there is insufficient available cash in the Wrap Cash Hub to
meet unpaid instalment payments, we may sell down your
investment holdings to meet these payments.
In these circumstances, money will be drawn from the following
investments, starting with the highest balance, generally in the
following order:
daily transacting managed investments
SMAs
Australian listed securities
illiquid investments.
36
Transacting
Term deposits
Your adviser (on your behalf) can make applications for term
deposits online.
The minimum term deposit application is $10,000 per deposit.
We will purchase term deposits on each Business Day (or as
permitted by the relevant issuer) and we will draw the funds
from the Wrap Cash Hub on the day our application is made
to the issuer of the term deposit. The details of these dates
are available from your adviser, or from us.
On maturity of the term deposit, the amount invested (your
principal) and interest earned will be credited into the Wrap
Cash Hub.
The time it will take for these funds to be available in the Wrap
Cash Hub will depend on when we receive the funds from the
term deposit issuer and the time it takes for the proceeds to
be cleared in the Wrap Cash Hub. For further details, please
refer to the offer document for the particular term deposit.
The interest rate applicable will be the advertised rate on the
day the term deposit closes to applications. The advertised
rate is available from your adviser, or from us. Interest on term
deposits can be:
paid into the Wrap Cash Hub upon maturity, or
reinvested, along with the principal, into another
termdeposit.
Rolling over a term deposit
Through your adviser, you may elect to roll over a term deposit
to a new term deposit for the same term from the same issuer.
You can roll over either the principal or the principal plus any
interest earned on the maturing term deposit. If a roll over
election is not made, the default maturity election is Cash out,
ie the principal and any interest earned will be credited to the
Wrap Cash Hub.
Please note: Once a roll over election is made for a term
deposit, it will remain in place until your adviser makes
a new maturity election. For example, where a maturity
election of Roll over Principal Only is made, the term
deposit will continue to roll over the principal investment
amount into the next available like-for-like term deposit
until that maturity election is changed.
Importantly, where you wish to roll over a term deposit, the
proceeds from the maturing term deposit are first credited to
the Wrap Cash Hub and then invested in the next available term
deposit. We recommend you or your adviser check the Wrap
Cash Hub balance prior to maturity of a term deposit to ensure
that you do not fall below an available cash balance of $1,000
(which could occur, for example, if any fees were deducted from
the Wrap Cash Hub at the point the term deposit proceeds were
credited to the Wrap Cash Hub, prior to the term deposit rolling).
If the Wrap Cash Hub balance falls below the minimum level,
or if processing the roll over will bring the available Wrap Cash
Hub balance below $1,000, the roll over may not proceed
and, the funds will remain in the Wrap Cash Hub.
Your adviser is able to update your roll over election
instructions one Business Day prior to maturity (up until
9.00pm Sydney time).
Disclosure documents
You should read the relevant PDS or other disclosure
documents prior to investing in any of the Eligible Investments.
As the PDS for each investment may be updated or replaced
from time to time, your adviser should provide you with the
most recent PDS for each managed investment you are
considering prior to acting on your investment instructions.
If you do not have an adviser, you should obtain the relevant
PDS or other disclosure documents (which are available online)
and will need to read and confirm you have read these prior to
us acting on your investment instructions.
The PDS for each managed investment and SMA has been
prepared by the relevant underlying product issuer. These
documents contain more detailed information about the
strategies and objectives, the manager and the administration
of the investment option. The most recent versions of these
documents are available from your adviser or online.
Material events
If a material event occurs which we believe is an important
consideration when making additional contributions to, or
switches within, your account and which we have not yet
informed you about, we may be unable to comply with your
instructions immediately. We will be required to forward
you the relevant information and will only switch or invest
in the investment option when we believe you have the
necessaryinformation.
Automated investment management tools
A number of automated tools are available to assist you and
your adviser to manage your investment strategy. These tools
are available for selected Eligible Investments only and are
established and maintained online, by your adviser. Where you
do not have an adviser, you can provide us with the relevant
instructions in writing. The income reinvestment plans are only
available for selected managed investments and Australian
listed securities.
Under the automated tools, you may acquire additional units
in managed investments without having been given a current
PDS or other disclosure documents in relation to those
investments. Your adviser can provide you with the current
disclosure documents, or they can be obtained online.
Investments through these automated tools will continue to be
made until cancelled or until the arrangement is terminated for
any reason.
Any transaction instructions and/or automated plans to
buy assets will fail where they will result in your available
cash balance falling below the $1,000 minimum balance
requirement.
37
Transacting
Automatic cash management
To help you manage the Wrap Cash Hub balance, you and
your adviser can select a minimum and/or maximum target
cash balance. This can be either specific dollar amounts or a
percentage of your account. If the Wrap Cash Hub balance
exceeds your specified maximum and your account has been
open for more than one month, we will automatically invest the
additional balance according to your instructions. If the Wrap
Cash Hub balance falls below your minimum target, we will
redeem some of your investments and top up the Wrap Cash
Hub balance.
This feature is not available for Australian listed securities, term
deposits or managed funds that do not price daily.
You can also set an investment limit so that application
orders which exceed the maximum investment limit will not
be automatically executed. These application orders will be
automatically cancelled unless they are authorised by your
adviser by the 28th of the month (or, if the 28th is a weekend
or public holiday in Sydney, the last Business Day prior).
The automatic cash management process is run on or around
the 20th of each month (this date may change without prior
notice to you).
Automatic rebalancing
You and your adviser can request us to regularly rebalance
the managed investments in your account according to
benchmarks you have established for particular assets. This
means that regardless of each investment’s performance, your
account will generally be in line with the investment strategy
you have agreed with your adviser.
You can choose to rebalance the managed investments within
your account either:
quarterly
half-yearly, or
annually.
This feature is not available for Australian listed securities, term
deposits, SMAs or managed funds that do not price daily.
Automatic rebalancing will occur on or around the 24th of the
month (this date may change without prior notice to you). After
your first automatic rebalancing transaction, you can instruct
your adviser to rebalance your account on demand.
Dollar cost averaging
Dollar cost averaging allows you to make regular investments
from the Wrap Cash Hub into managed investments (not
including SMAs).
You can choose to run dollar cost averaging either monthly or
quarterly. You simply decide upon a start and finish date (at least
six monthly or four quarterly investments must be made), the
amount and into which managed investments you would like
to make your investments. A minimum transaction of $250 per
month/quarter and $50 per managed investment applies. Dollar
cost averaging transactions will occur on or around the 16th of
the month (this date may change without prior notice to you).
Under dollar cost averaging you may acquire interests in
managed funds without having been given a current PDS
or other disclosure document in relation to the relevant
investment. These can be obtained through your financial
adviser or are available online.
Investments made through dollar cost averaging will continue
to be made until you instruct us otherwise or we notify you
that we are discontinuing dollar cost averaging as a feature.
This feature is not available for Australian listed securities, term
deposits, SMAs or managed investments that do not price daily.
Income from your investments: reinvestment plans
You can elect for the distributions or dividends from your
investments to be reinvested into those investments or to be
paid into the Wrap Cash Hub. On your instructions, your adviser
should make this election online. Where you do not have an
adviser, you can provide us with these instructions in writing.
Cash payments or the reinvestment of distributions or
dividends may not be available for some investments.
For further information, please refer to your adviser or
the relevantPDS and other disclosure documents for the
underlying investments.
Where you or your adviser have nominated for distributions to
be used to acquire new units in a managed investment, the
cash will be reinvested in the relevant investment generally on
the same Business Day or the following Business Day after the
distributions are paid to the Wrap Cash Hub. The unit price at
which distributions are reinvested may differ from the price that
would apply if you participated directly in the fund manager’s
distribution reinvestment plan. For further information, please
refer to your adviser or the relevant PDS and other disclosure
documents for the underlying investments.
Distributions and dividends will only be credited to your
account once the amounts and any necessary information
have been received by us.
Where you instruct us to reinvest income from your investments,
the reinvestment may be made where you do not have a copy
of the current PDS or other disclosure document for those
investments. Where you have an adviser linked to your account,
your adviser can provide you with the current PDS or other
disclosure documents, or they are available online.
Dividend bonus share plans (also known as dividend
substitution plans) are not administered in the Fund.
38
Ongoing reporting
The Trustee provides you with ongoing reporting on your
account and the Fund.
Statements
We will prepare a detailed statement on the value of your
account, and any transactions that have taken place as part of
your annual statement.
Statements will be available online. You should check the
entries on each statement carefully and promptly report any
error or unauthorised transaction to us. If you have any queries
on transactions included in your statement, please contact us.
We will also provide you with information at least annually to
help you complete your income tax return if you have made
personal contributions or have received assessable income
during that year.
Annual report
We prepare an annual report about the management, financial
performance and position of the Fund for the period to
30June each year. The annual report will be available online at
macquarie.com.au/yourwrap
Online access to your account
You can access your account online using Macquarie
Online available at macquarie.com.au/personal. We will
automatically issue you with a Macquarie ID and password at
the time you establish your account.
Your online access allows you to:
view transactions conducted since opening your account
view your account balance, asset allocation and the latest
available market value of your investments
view details of income you have received from your
investments and the Wrap Cash Hub
view details of the fees, taxes and costs incurred on
youraccount
view your individual account details, including tax
components and preservation details
view details of your nominated beneficiaries
view details of your insurance cover (if applicable)
view your realised and unrealised gains and losses
access your annual statements
receive confirmations and other notices, and
view market information.
Online information is generally updated daily with data as at
the close of the previous Business Day.
Keeping your online details secure
At all times you should keep your account and Macquarie
Online login details secure. You should not disclose these
details to anyone else.
If you lose or suspect your account or Macquarie Online login
details have been compromised or used by a third party,
you should call us immediately. Failure to do so may result
in a third party having unauthorised access to your account,
including your personal details. Unauthorised access could
result in a loss of your benefits due to fraud or other activity
that has not been authorised by you.
Electronic notices
Where permitted by law, you agree that we can give
you all notices, statements, documents, information and
other communications in connection with your account
electronically,by:
emailing them to your nominated email address or
sending them through SMS to your last known mobile
telephonenumber
making them available online at a location notified to you; or
any other way agreed with you.
Where we make information available online, you agree
that we may notify you of this fact and the location by
email or SMS. You agree to check your emails and SMS
messagesregularly.
You agree to notify us as soon as possible with any changes
to your contact details including but not limited to your
nominated email address and mobile telephone number.
Reports available to your adviser
Where you have an adviser linked to your account, they will
have access to your statements, and a comprehensive range
of reports and data on your account to enable them to track
your investments and other important information regarding
your account.
In addition, you agree that your adviser may also authorise
other people working in or for their organisation to access
your account details, balance, transaction history and personal
information to help in the administration of your account.
Please refer to the Privacy Statement section for further details
regarding the sharing of your information.
Reporting
One of the benefits of Super and Pension Manager II is consolidated reporting.
Adetailed and up-to-date picture of your account is available online, which
makes managing your account easier.
39
Reporting
Reporting on a group of accounts
We offer you the opportunity to link your account, for reporting
purposes, to other accounts offered by us, provided that they
are held by your spouse or other family members and they
have given you authority to view their accounts. Where this
authority has been provided, you and your adviser will be able
to access reports that show a grouped portfolio valuation and
asset allocation.
You can also provide your authority for others to view
youraccount.
Reporting on the value of your account
The value of your account is the aggregate net value of
your investments, including the Wrap Cash Hub, after the
deduction of accrued fees, taxes and charges. The information
below is a guide on how different investments are valued and
what will be reported.
The Trustee uses, for the purposes of valuation, prices we
receive from the investment option or its provider or an
appropriate exchange or, if no such price is available, another
source that the Trustee considers is appropriate.
Please note: Accrued fees and taxes are not reflected in
your portfolio valuation.
The Wrap Cash Hub
The Wrap Cash Hub is held through the Fund’s custodian with
MBL. Interest is distributed to the Wrap Cash Hub quarterly.
Accrued interest is not reported on your account until it is
paid. For more information on the Wrap Cash Hub, refer to the
Understanding your investments section.
Term deposits
Term deposits are cash deposits that earn interest based
on the balance of the deposit. Interest is generally paid
onmaturity.
The value of a term deposit is determined by the amount
initially invested and the accrued interest. As the accrued
interest is not reported to us by the term deposit issuer, this will
not be reported on your account until it is paid by theissuer.
Managed investments
When you invest in managed investments, the number of units
allocated to you depends on that product’s unit price and the
amount you invest. Each managed investment will generally
have a different unit price set by the product issuer. The unit
price that you receive is determined by the product issuer,
and generally reflects the value of the managed investment’s
assets after deducting the product issuer’s fees, expenses and
transaction costs.
The value of your managed investments will be the number of
units held by you multiplied by the redemption unit price set by
the product issuer. Further details are available in the PDS and
other disclosure documents for each managed investment.
Please note: Accrued managed investment
distributions will not be reported on your account after
they have been declared by the product issuer and will
only be credited and reported once received by us.
Australian listed securities
Australian listed securities are generally valued at the most
recent price available which can either be their last available
closing price on the ASX, or where possible, can be as regular
as a 20 minute delay via Macquarie Online while the market is
open. If no trades have occurred for a security during the day,
the last traded price will be used.
Illiquid investments
Where you hold illiquid investments, we generally value these
assets at the last trading price until new pricing information
becomes available. If these investments have not traded for
an extended period, the eventual value realised for these
investments may be substantially different to the value displayed.
We will seek to continue to report on illiquid investments. In
accordance with our valuation policies, we may change the
method by which we value an illiquid investment, from time to
time, and report the most accurate value for the asset.
Changes in methods for valuing assets
At our discretion, we may change the method by which we
value an asset. For example, if a method becomes available
which more accurately reflects the fair value of the assets, we
may select to use this method. If we believe a particular asset is
not fairly valued using the standard methods described above,
we may report what we believe to be a more accurate value.
40
You are required to meet certain conditions under
superannuation legislation before you can access your
superannuation benefits. These are explained in the TIB. Once
you have qualified to access your superannuation benefits,
you have the option of:
withdrawing a lump sum
transferring your investments in-specie from Super to
Pension and then drawing a pension
rolling part or all of your account to another complying
superannuation fund, or
transferring to a KiwiSaver account where certain
conditions are met.
Please note: Withdrawals as a lump sum and rollovers
to another complying superannuation fund must be
done from available cash in the Wrap Cash Hub.
Minimum total account balance
Over the life of your account, you must maintain an overall
minimum account balance of $10,000.
Where you request a rollover or lump sum withdrawal that will
result in your balance falling below $10,000, we may treat this
as an instruction to close your account.
Where we receive such an instruction, we will notify you
that we intend to close your account and pay the balance
in accordance with the provided instructions. If you do not
amend your instruction to retain the minimum $10,000
account balance, we may proceed with selling all investments
and closing your account.
If your balance falls below $10,000 through other means, for
example, through market movement), we may roll over your
account to a special type of superannuation fund called an
Eligible Rollover Fund (ERF).
How to withdraw
Subject to access rules, you can withdraw a minimum of $500
(before tax) as a lump sum from your account provided that
you have sufficient available cash and retain the minimum total
account balance.
If you have insufficient available cash in the Wrap Cash Hub
to meet your required withdrawal, you or your adviser can sell
investments with the resulting proceeds being credited to the
Wrap Cash Hub. The proceeds cannot be used to process a
withdrawal until settlement occurs and the money is cleared in
the Wrap CashHub.
If there is insufficient available cash to meet your required
withdrawal and you or your adviser have not provided
instructions to sell investments, we reserve the right to
sell investments to provide sufficient cash to meet the
withdrawal and also retain the minimum cash balance. In
these circumstances, we will generally sell investments in the
following order:
daily transacting managed investments
SMAs
Australian listed securities
illiquid investments.
You can make a withdrawal from your account by completing
a Withdrawal/rollover form, available from your adviser or from
us. On the Withdrawal/rollover form you will need to:
confirm your name, account number and the withdrawal
amount, and
include the details of the Australian bank or building society
account into which your withdrawal is to be transferred (if
different from an account you have previously nominated on
your application form or inwriting).
As we need to verify your signature, you cannot email or give
these instructions to your adviser. Signed instructions can be
sent as an email attachment to us, subject to the Electronic
instruction service requirements. Where we do not have your
signature on file, we may request a certified copy of a form
of photo identification that captures your signature in order to
verify your instructions.
For pension accounts, we are required to pay the annual
pro-rata minimum pension for that financial year. As a result,
you are required to leave sufficient liquid investments in your
account to meet this requirement.
All withdrawals will be processed by electronic funds transfer,
andfor pension accounts as pension payments, unless
requested otherwise.
If there is sufficient available cash in the Wrap Cash Hub,
withdrawals will generally be processed on the Business Day
following the receipt of your request. Proceeds will generally be
available the following Business Day. Withdrawal processing
may take longer in certain circumstances; for example, when
the proceeds are credited to some building societies.
How do I withdraw?
41
How do I withdraw?
Closing your account
You can request to close your account at any time by following
these steps.
1. Confirm there are no outstanding dividends, distributions,
corporate actions, fees, term deposits still to mature, or
unsettled transactions.
2. Confirm all automated plans (automatic cash management,
automatic rebalancing, dollar cost averaging and/or direct
debits) have been cancelled. Where you have requested your
account to be closed and we have not received notification
regarding your automated plans, the Trustee may, in its
absolute discretion, choose to close those plans on your
behalf.
3. Ensure your holdings are sold and the proceeds cleared in the
Wrap Cash Hub. When selling your holdings, you and/or your
adviser should also take into consideration any purchases that
may not have finalised as a result of an automated plan.
4. Notify us that you wish to close your account, using the
following guidelines:
notification must be in writing (to allow us to verify your
signature), you cannot email or give these instructions
verbally to your adviser
your signed instructions can be sent as an email
attachment to us, subject to the Electronic instruction
service requirements, and
your signed instruction must include:
your account name and number, and
the details of an Australian financial institution account
into which you would like us to credit the proceeds or
include the details of a superannuation fund where you
would like us to roll over your benefit (superannuation
fund ABN, USI, SFN, RSE and address).
5. For pension accounts, minimum payment requirements
apply before your account can be closed.
Any outstanding fees will be deducted upon closure of
youraccount.
Online access to your accounts may be removed following the
closure of your account.
Please note: If we receive an instruction to close
an account (in writing or via other methods such as
SuperStream), we may treat this as an instruction to
also sell your investments to cash, lapse any corporation
actions, turn off any automatic investment management
plans (such as dollar cost averaging and automatic cash
management) and cease any further premium payments
for any insurance held, which may result in your insurance
being cancelled. To facilitate the closing of your account,
we may also take other administrative actions such as
removing the registered adviser on your account.
Important information
If you wish to claim a tax deduction for your personal
contributions in a particular year, you must send us a valid
deduction notice for these contributions prior to withdrawing
your account balance or commencing a pension. For
more information, please see Claiming tax deductions for
yourcontributions.
We may not act on your instructions to close your account if
there are any outstanding:
corporate actions: check with your adviser or us that there
are no outstanding corporate actions on your account
transactions: check with your adviser or us that there are
no outstanding transactions on your account
illiquid investments: where you hold illiquid investments,
including term deposits, we may not be able to action your
request within the standard 30 day period. See Rolling over
your benefit below for more details.
Please note: if you close your account prior to the
completion of the annual tax processing you will not
receive the benefit of any tax adjustment to which
you may have been entitled. This may include the
benefit of a capital gains tax (CGT) discount or franking
credits. For more information, refer to Annual taxation
adjustments within the How is tax deducted? section.
If you are entitled to any proceeds after your account is closed,
including, but not limited to, dividends or distributions, we will
make reasonable efforts to forward the proceeds to you in the
manner specified on your final withdrawal or rollover request.
If we are unable to pay these benefits or any other money
owed to you (including unpresented cheques) and are unable
to contact you, we reserve the right to deal with these
proceeds in any manner permitted under applicable law,
including opening a new superannuation account on your
behalf or paying the benefit to the ATO.
42
How do I withdraw?
Rolling over your benefit
You can request that part or all of your account balance
be rolled over to another superannuation fund. We will
generally process your request within 30 days of the receipt
of a completed Withdrawal/rollover request form and any
requireddocumentation.
Where you hold illiquid investments, including term deposits,
we may not be able to action your request within the standard
30day period. If we are unable to action your rollover request
due to illiquidity of your investments, we will act on your
instructions to forward the maximum benefit possible within
30 days, with the remainder of your benefit to be paid as soon
as the term deposit matures or proceeds from the sale of your
illiquid investment(s) have been received, unless you instruct
otherwise. Where illiquid investments are retained in your
account, we reserve the right to sell these assets at our discretion
once they become liquid, unless directed otherwise. In these
circumstances, we reserve the right to pay any benefits according
to your last payment instruction.
As we are entitled to be indemnified from the assets of the
Fund for liabilities we have incurred and expected liabilities,
in some cases, if we determine that the value of the illiquid
investment is equal to or less than the costs we have incurred
in maintaining your account and the costs that we will incur
in redeeming the remaining investments, those costs will be
attributed to your account, your account will be closed and we
will determine how to deal with any remaining assets that were
held in relation to your account.
For more information, refer to Liquidity risk within the
Understanding your investments section.
Transferring to a KiwiSaver scheme
The Trans-Tasman superannuation portability arrangement
allows former Australian and New Zealand residents who
permanently emigrate between the two countries, to take their full
retirement savings with them. The transfer of retirement savings
between Australia and New Zealand is voluntary for members
and also voluntary for funds to accept transferred amounts.
The Fund currently facilitates transfers to eligible New Zealand
superannuation funds (known as KiwiSaverschemes).
Superannuation law requires that the full balance of your
account(s) within the Fund be transferred to a KiwiSaver
scheme. In order to facilitate the transfer the Trustee is required
to receive certain information and declarations. If you are
seeking to transfer your retirement savings from the Fund to a
KiwiSaver scheme, you must complete the KiwiSaver Transfer
form. Please speak to your adviser if you would like to know
more about transferring your benefit to a KiwiSaver scheme.
Term deposits
As term deposit applications are pooled and invested together,
there is a limited ability to obtain funds before maturity. In
some cases, 31 days’ notice is required and term deposit
issuers may reduce interest or charge penalties for accessing
funds prior to maturity.
You should always consider the relevant term deposit issuer’s
disclosure document for details of any restrictions, delays or
break fees that may apply.
Pension payments
Your Pension account allows you to maintain choice in
your underlying investment options whilst receiving regular
payments within prescribed limits from your account.
Your pension may be established once you meet the relevant
rules to access your superannuation benefit explained in the TIB.
Pension Manager II allows you to receive pension payments
monthly, quarterly, half-yearly or annually. Your adviser can
amend your pension frequency online. If you do not have an
adviser, you can provide these instructions to us.
Pension payments will be drawn from the Wrap Cash Hub and
transferred electronically to your nominated Australian financial
institution account, on or around the 15th day of the month. If
you invest before the first day in any calendar month, your first
pension payment can generally be made on the 15th day of
that month. The nominated account must be an account held in
your name or an account you hold jointly with another individual.
In the first year, the minimum payment you are required to
receive annually will generally be pro-rated based on the
number of days between your pension commencing and the
end of the financial year, unless your pension commences in
June of a financial year, in which case, no payment is required
to be made in that financial year.
43
How do I withdraw?
What pension amount can I receive?
Legislation sets out the minimum annual payments that must
be paid from an account-based pension each financial year.
The minimum annual payment factors are set out in the
Minimum pension payments section of the TIB.
These limits are based on your age and your account balance
and are calculated when you commence your pension and
at 1 July in each subsequent year. Generally, your Pension
account must pay at least the minimum pension amount each
financial year.
Confirmation of your initial annual pension amount will be sent
to you shortly after we receive all contributions and rollovers
into your Pension account and the pension has commenced.
The date your pension commences may be different to the
date your Pension account opens. Your annual pension
amount can be updated by your adviser online each year. If
you do not have an adviser, you can instruct us to update your
annual pension amount.
Where we cannot pay the required minimum amount for a
given year, we will commute your pension and transfer your
account in-specie from Pension to Super.
Please speak to your adviser or refer to the Minimum pension
payments section of the TIB if you would like to know more
about the annual minimum payments applicable to you.
Transition to retirement pensions
Transition to retirement pensions also have a maximum
amount that can be paid each year. The maximum amount is
not pro-rated in the first year.
Please speak to your adviser or refer to the Minimum pension
payments section of the TIB for more information.
Commutation authorities
If you commence a pension and the commencement value
exceeds the transfer balance cap and you don’t act to
resolve the excess amount, the ATO can issue a commutation
authority to the Fund.
A commutation authority requires us to transfer the amount
determined by the ATO into a superannuation account or pay
as a lump sum to you.
Once notified, we will make reasonable attempts to contact you
and/or your adviser and confirm how you wish to proceed. In
the event we are unable to contact you or your adviser or you
and/or your adviser do not provide us with valid instructions with
sufficient time to process them (as determined by us), we have
an obligation to commute the excess amount by the due date.
In these circumstances we will open a superannuation account
in your name and transfer the required amount into this new
account. Money will be drawn from the following investments,
starting with the highest balance, generally in the following order:
the Wrap Cash Hub (the minimum balance will be retained
in the Pension account)
daily transacting managed investments
SMAs
Australian listed securities
illiquid investments.
Release authorities
The ATO can issue a release authority to the Fund when you
have exceeded your contribution cap in a previous financial
year, have a tax liability or applied for the First Home Super
Saver Scheme.
When we receive a valid release authority, we are required to
pay the amount on the release authority from your account to
the ATO by the due date.
If you have insufficient available cash in the Wrap Cash Hub
to pay the release authority, we reserve the right to sell down
your holdings to top up the Wrap Cash Hub to fund the
release authority payment and ensure the minimum cash
balance continues to be met.
In these circumstances, money will be drawn from the
following investments, starting with the highest balance,
generally in the following order:
the Wrap Cash Hub (the minimum balance will be retained
in the account)
daily transacting managed investments
SMAs
Australian listed securities
illiquid investments.
Transfer between Super and Pension
You can transfer in-specie from Super to Pension without any
CGT consequences at the time of transfer.
We may not be able to complete your instructions to transfer
between Super and Pension if there are any outstanding:
corporate actions – check that there are no outstanding
corporate actions on your account, and/or
transactions – check that there are no outstanding
transactions, including investment transactions, fees, pension
payments and other automated transactions on your account.
Transferring out of Super and Pension
Whilst you are able to transfer assets directly in-specie
between Super Manager II and Pension Manager II, we are
unable to transfer assets in-specie to another complying
superannuation fund or use them as a means to pay benefits.
Please note: Holdings must be withdrawn as cash
only, subject to conditions of release.
44
Insurance solutions
Even the best-laid investment plans can come undone if you
lose your ability to earn an income. Macquarie Wrap offers
a range of insurance cover options through one or more
insurance providers, which can give you the peace of mind
that you and your dependants will be looked after in the event
of the unexpected.
Becoming ill, having an injury, or worse, dying prematurely, are
subjects we would prefer to keep at the back of our minds.
The flexibility of the insurance solutions available through your
super account means that you can afford to concentrate on
living, knowing that if the worst happened, you, your family
and your assets are protected.
Maintaining your insurance through your Super account allows
you to pay premiums from your superannuation balance rather
than your take home pay or personal savings. This may have a
tax benefit as the Fund may be able to claim a tax deduction.
Premiums can be deducted automatically on a frequency
that works for you. Insurance is an optional benefit of your
Superaccount.
You and your adviser will also have online access to the type
of insurance, the level and the cost of insurance to ensure that
the insurance you have selected remains appropriate to your
needs. This information will be integrated with other reporting
we provide on your superannuation account and helps you
and your adviser to ensure that it remains appropriate to
yourneeds.
You will also have access to integrated reporting covering
both insurance and investments. Your insurance details will be
displayed on your annual statements and you can track the
premiums which have been paid to your insurer.
Your adviser can also review the type, level and cost of
insurance to ensure that it remains appropriate to your
needs. For further information on the benefits of insurance in
superannuation, please speak with a financial adviser.
It is important to remember that the premiums you pay will
reduce the amount of money which can be invested within
your Super account, which will impact on the amount of
money that you have when you reach retirement. The cost
of your insurance should be carefully considered before you
take out your policy and you should review the cost at least
annually to ensure it is appropriate.
MIML, as Trustee, owns the insurance policies issued for cover
held within superannuation. In some circumstances a separate
(but linked) non-superannuation policy may also be issued by
the insurer which will be owned directly by you for cover that
the Trustee does not allow to be held within superannuation.
This may be referred to as a split policy arrangement. Please
refer to the relevant insurance PDS for more information on
these ownership arrangements.
We recommend you seek advice before you apply if you are
considering taking insurance cover within superannuation.
The Eligible Insurance providers may change in the future.
Refer to the Investment Menu for a list of the current Eligible
Insurances available.
Types of cover
The type of insured benefits available through superannuation
is limited to those which are consistent with the conditions
of release for death, terminal medical condition, permanent
incapacity and temporary incapacity, to ensure that if an insurer
accepts a claim, the benefit can be released from the Fund.
The type of cover which is available within superannuation
includes:
Insurance type Description
Life insurance Provides a lump sum if the insured dies or
is diagnosed with a terminal illness.
Total and
permanent
disability (TPD)
Provides a lump sum if the insured suffers
total and permanent disablement.
Disability income Provides a benefit if the insured is unable
to work due to illness or injury and is totally
disabled or partially disabled for longer than
the specified waiting period.
For detailed information on insurance cover available through
your account, you should consider the separate insurance
PDSs available from the insurer, your adviser or us.
These documents should explain the features and benefits in
full and help you decide whether to take out insurance through
superannuation.
Insurance
Super Manager II offers a range of insurance cover options through multiple
insurance providers, which can give you the peace of mind that you and your
dependants will be looked after in the event of the unexpected.
45
Insurance
How much insurance do I need?
It is very important that you understand the value of insurance
and choose an adequate level of insurance to cover your needs.
A licensed adviser can discuss this with you and tailor a
package of insurance cover based on your own individual
circumstances. They can explain:
the benefit of estate planning options, including
nominatingbeneficiaries
the tax treatment of insurance premiums and benefits paid
from the Fund, and
the benefit of arranging insurance through a
superannuationfund.
How do I get insurance?
If you would like to apply for insurance through your Super
account, you will need to lodge an application via the
applicable insurer or through your adviser.
The relevant Eligible Insurance provider’s PDS should explain
the application process and the information that must be
provided to enable the insurer to consider an application
and determine whether you are eligible for cover. It will
also allow the Eligible Insurance provider to determine the
appropriatepremium.
A limited amount of insurance, known as interim insurance
cover, may be provided while a formal application for
insurance is being considered. This interim cover will be held
outside superannuation.
How much will it cost?
The cost of insurance cover may be determined by a
combination of factors including:
the type of cover
the premium type and payment frequency
the level of cover and options that apply
your age (premiums generally increase with age)
your gender
your smoking status (premiums are generally higher
forsmokers)
your general health
your occupation, and
your pastimes and pursuits.
Once insurance has commenced, premiums are deducted
from the Wrap Cash Hub in accordance with your policy
with the insurer. Your premium will generally be calculated as
at the cover start date and then on each subsequent cover
anniversary, based on the above factors. It is important that
you maintain a sufficient cash balance in the Wrap Cash Hub
to fund premiums as they fall due. For further information
on when your premium is deducted and how your premium
is calculated you should consider the separate Eligible
Insurance PDS. The insurer or your adviser can provide you
with an estimate of the cost of insurance based on your
individualcircumstances.
Duty of disclosure
Before you obtain cover under the Trustee’s life insurance
contract with one of the Eligible Insurance providers, you have
a duty to tell the insurer anything that you know, or could
reasonably be expected to know, may affect the insurer’s
decision to insure you and on what terms.
You have this duty until the insurer agrees to insure you or
before you extend, vary or reinstate your insurance.
However, you do not need to tell the insurer anything that
reduces the risk you are being insured for, is common
knowledge, that the insurer knows or should know or where
the insurer waives your duty to disclose.
If you do not tell the insurer everything you are required to,
and the insurer would not have insured you if you had told
the insurer, the insurer may be able to avoid the cover. If it
chooses not to avoid the cover, the insurer may reduce the
cover or change the terms of the cover, with regard for what
you did not tell the insurer. If your failure to tell the insurer
something was fraudulent, it may refuse to pay a claim and
treat the cover as if it never existed.
Risks of holding insurance through
superannuation
There are risks you should consider before deciding to hold
insurance through superannuation, including:
an insurance benefit paid through superannuation is a
superannuation benefit for tax purposes and may be subject
to more tax than would otherwise apply if the benefit was
paid from the same insurance held outside ofsuperannuation
limits apply to the amount you can contribute to
superannuation each year and superannuation contributions
you make to pay premiums will count towards your
superannuation contributions cap, reducing the amounts
you may be able to contribute to superannuation for
retirement savings purposes
using your superannuation to pay the premiums for
insurance in superannuation will reduce your retirement
savings so that you may have less available to you on
retirement than otherwise may have been the case
taxation or superannuation law may change in the
future, altering the suitability of holding insurance in
superannuation, and
cooling-off rights generally do not apply. These rights
generally allow you to cancel your insurance within a period
of 14 days after either receiving confirmation of the insurer
accepting your application or five days after the insurer
accepts your application (whichever is earlier).
46
Insurance
Maintaining your insurance
Superannuation law requires us to only maintain insurance in
your account where:
your account is active, that is, we have received an
amount, such as a contribution or rollover, within the last
16months, or
you have made an election to retain your insurance cover
even though your account may become inactive for a
continuous period of 16 months.
Generally, when you complete an application for insurance
through the Fund, the application will include an option to
elect to retain your insurance irrespective of whether your
account remains active. However, you may decide not to
make thiselection.
Where you have not made such an election, and your account
becomes inactive for a continuous period of 16 months, we
are required to stop maintaining the insurance within your
account. This means that you will no longer be covered for
events that you were when the insurance cover was in force.
Where you have not made an election and your account has
been inactive for some time, we will send you notification prior
to cancelling the insurance cover to give you the opportunity
to elect to retain your cover.
Claiming an insurance benefit
Any payment of a benefit is dependent on the insurer accepting
your claim. Where accepted, payment will be made to the
Fund in the first instance. The release of the benefit to you
from the Fund is dependent on your satisfaction of a condition
of release. It is important to understand that there may be
circumstances in which the Trustee will be unable to release
the benefit at the time of claim under superannuation laws.
There may also be circumstances where the benefit paid from
the Eligible Insurance provider to the Trustee is included in the
Fund’s assessable income for tax purposes, in which case the
benefit paid from the Fund will be net of any tax payable by
the Fund on the benefit amount.
To lodge a claim, call us on 1800 025 063 or email
wrapsolutions@macquarie.com. We will be able to assist
you in answering any questions about the claims process,
what information the insurer may require and how the process
will work. We can also arrange for the insurer to send you a
claims pack.
As the trustee of the superannuation fund, MIML is available to
assess your initial eligibility to claim and provide assistance to
you in lodging your claim with the insurer.
The time it takes to assess a claim depends on the type of
benefit you are applying for, the complexity of your claim and
the speed at which relevant information can be requested by,
and provided to, the insurer.
Information which may be required by an insurer to assess
your claim includes:
1. medical information from your treating practitioners
2. financial records (including ATO records)
3. Personal Statement
4. occupational or workplace assessments
5. independent Medical Exams with specialists chosen by
the insurer.
As a guide, we aim for income protection claims, terminal
illness claims and death claims to be assessed within
three months and TPD claims within six months (subject to
exceptional circumstances).
If you need help with the claim process, in understanding
what is required of you, completing claim forms or providing
requested claim information, we will work with you and the
insurer to find a solution. This may include endeavours to
collect the information on your behalf, with your permission.
Changing or cancelling your cover
You can increase or decrease your level of cover by
contactingyour insurer. Any increase in the level of cover may
be subject to underwriting by your insurer. You can cancel
your cover by contacting the Trustee on 1800 025 063 or
emailing wrapsolutions@macquarie.com
You will not be able to make a claim for insurance benefits
for events or conditions that arise after your cover has been
cancelled. You may be able to claim if you meet a disability
definition prior to your policy being cancelled.
After your policy is cancelled, we will no longer deduct
insurance premiums from your account. Any refund payable
will be paid into your Super account. If you have closed your
account, the refund will be paid to the account which your
balance was paid to, to the nominated Eligible Rollover Fund,
or the ATO.
Should you decide to reinstate your cover, you may have to go
through underwriting or cover may be declined by the insurer.
You may also no longer be covered for conditions that you
would have otherwise been covered for.
If you are replacing your cover with alternative cover, you
should not cancel your existing cover until the replacement
cover is in place.
Your financial adviser will be able to help you to make a
decision on cancellation.
Continuation option
If you are cancelling your cover because you are closing your
account, you should consider whether a continuation option
is available. Details of this option would be available within
the Eligible Insurance provider’s PDS and may allow you to
continue to hold the same cover outside of superannuation or
transfer your cover to a new superannuation fund.
Any loadings or exclusions which applied on your original
policy will continue to apply after the transfer.
47
Operating your account
Outlined in this section are a number of operational details
applicable to your account.
Changing details
If any of your details change, including your personal details,
you are able to update these by notifying us in writing.
You and/or your adviser can also update some of your
personal details online. As your mobile phone number is
used for identification verification purposes, this cannot be
updatedonline.
Electronic instruction service
Under the electronic instruction service, the Trustee will accept
account instructions, including withdrawal requests, sent in the
form of an email attachment.
Telephone recording policy
You should be aware that we may record all of our telephone
conversations with you and/or your adviser relating to your
account. By applying for an account, you consent to the
recording of our telephone conversations with you and/or
your adviser and its use (or any transcript of the recording)
in any proceedings that may be commenced in connection
with your account. You acknowledge that we are not obliged
to maintain copies of such recordings or transcripts for your
benefit. When calling, please let us know if you do not want
your conversation recorded. The application form includes an
acknowledgement to this effect.
Applying to open an account
If you have any of the following existing accounts in the Fund, you
are unable to apply to open a second Super Manager II account:
Super Manager
Super Consolidator
Super Manager II
Super Consolidator II.
This is to ensure:
the tax components of any superannuation benefits paid
from the Fund can be calculated correctly, and
we comply with our legislative obligations.
There are no restrictions on being able to hold multiple
pension accounts in the Fund.
Accounts with no ongoing balance
If we have opened your account and no rollovers or
contributions are made within three months, we reserve the
right to close your account. Before doing so, we may contact
your adviser (or you, if your account no longer has an adviser).
Standing instructions in relation to class actions
MIML, as trustee, will make a decision whether to participate
in any class action on any investments you may hold in
Super and Pension Manager II. In making our decision we will
consider whether to do so is in the best interests of members
and participating is in accordance with our other duties.
If you close your account prior to the conclusion of the
class action, we will make reasonable efforts to forward
the proceeds to you in the manner specified on your final
withdrawal or rollover request.
If we are unable to contact you in these circumstances, we
reserve the right to deal with these proceeds in any manner
permitted under applicable law.
If you have closed your account prior to the announcement of
a class action that relates to assets you held in your account,
then you will not be eligible to participate.
Illiquid investments
We will seek to continue to report on illiquid investments. In
accordance with our valuation policies, we may change the
method by which we value an illiquid investment and report
the most accurate value for the asset.
The ability to transact on illiquid investments will often be
restricted due to forces beyond our control. In these events,
we will generally work with you and/or your adviser to identify
an alternative method of transacting on these assets. For
additional information on illiquid investments, please refer to
the information in the Closing your account and Rolling over
your benefit sections.
Ineligible assets
In circumstances where the Fund holds an asset not on the
Investment Menu (eg due to a corporate action such as a
demerger), that is inconsistent with our other Trustee duties,
or if superannuation law forbids it, we will sell the asset and
recover any associated costs from the member(s). We will
credit any remaining proceeds to the Wrap Cash Hub.
Other information
48
Other information
You and your adviser
The role of your adviser includes assisting you in establishing
and maintaining your account on your behalf. Where you
have an adviser linked to your account, they should be your
primary point of contact and any queries about your account
should be directed to them. When you open your account,
you authorise your adviser to give us instructions as set out
throughout this PDS.
Your adviser may authorise their support staff (including
other advisers within their dealer group) to assist them in the
administration of your account.
Your adviser’s responsibilities
Where you have an adviser linked to your account, your
adviser may be responsible for, depending on the service
agreement you have with them, the following:
advising you on which investment strategy and mix of
investments suit your risk profile and needs
ensuring that you have all of the necessary information and
documentation to make informed investment decisions
informing you of the potential risks involved with
investmentdecisions
monitoring and giving you advice on your account
establishing and maintaining your account online
ensuring that you authorise all transactions
acting on your instructions to us
advising you if the balance in the Wrap Cash Hub falls
below the minimum requirement
providing you with reports on your account in addition to
our reporting, and
providing you with a PDS and/or other disclosure
documents for managed investments (including SMAs),
Australian listed securities and term deposits offered, prior
to placing your investment instructions.
Your adviser’s authority
By opening your account and having an adviser linked to your
account, you authorise us and our agents to rely and act on
instructions from your adviser and/or their support staff.
You should only instruct your adviser (or us and our agents)
after having read and understood the current PDS for Super
and Pension Manager II and the current PDS and other
disclosure documents of the relevant underlying investments
that you consider.
Your adviser is not authorised to withdraw from your account
other than to pay benefits to an account nominated or as
otherwise authorised by you, where you have previously declared
you have met a condition of release for withdrawing benefits.
Changing advisers
In applying for and holding this product, we prefer you to have
an appropriately licensed adviser who is registered with us to
assist you with your account.
You must notify us if you change advisers or remove your
adviser. Your adviser may also instruct us to remove them as
the linked adviser on your account. You must also notify us, in
writing, of any new fees payable to your new adviser.
If your adviser is not registered with us, we will seek to assist
them in becoming registered.
Accounts with no advisers
Where you do not have an adviser linked to your account,
you will need to operate your account by dealing directly with
us. Investment and other instructions can be provided to the
Trustee in writing using the appropriate form.
If your adviser ceases to be licensed either temporarily or
permanently we will remove the adviser from your account as
soon as practicable and cease to pay fees to the adviser.
Anti-money laundering and counter terrorism
financing terms and conditions
As part of our commitment to international anti-money
laundering standards, we are required to fulfil our legal
obligation and internal policies and procedures as required.
You must not knowingly do anything to put Macquarie Group
(Macquarie) in breach of the Anti-Money Laundering and
CounterTerrorism Financing Act 2006 (Cth) (AML/CTF Laws)
and/or its internal policies and procedures, rules and other
subordinate instruments. You undertake to notify Macquarie if
you are aware of anything that would put Macquarie in breach
of AML/CTF Laws.
If requested, you agree to provide additional information and
assistance and comply with all reasonable requests to facilitate
Macquarie’s compliance with AML/CTF Laws in Australia or
an equivalent law in an overseas jurisdiction and/or its internal
policies and procedures.
You undertake that you are not aware and have no reason to
suspect that:
the money used to fund the investment is derived from or
related to money laundering, terrorism financing or similar
activities (illegal activities), and
proceeds of investment made in connection with this
product will fund illegal activities.
In making an application pursuant to the PDS you consent
to us disclosing in connection with AML/CTF Laws and/
or internal policies and procedures any of your personal
information as defined in the Privacy Act 1988 (Cth).
In certain circumstances, we may be obliged to freeze or
block an account where it is used in connection with illegal
activities or suspected illegal activities. Freezing or blocking
can arise as a result of the account monitoring that is required
by AML/CTF Laws and/or internal policies and procedures.
If this occurs, we are not liable to you for any consequences
or losses whatsoever and you agree to indemnify us if we are
found liable to a third party in connection with the freezing or
blocking of your account.
Macquarie retains, in its sole discretion, the right not to provide
services to any applicant that Macquarie decides.
49
Other information
Unclaimed money, temporary residents’
benefits and lost accounts
Your superannuation may be treated as unclaimed money
ifyou:
have reached age 65 and we have not received an amount
on your behalf for at least two years and five years have
passed since we last had contact with you
have an account that has been reported as ‘lost’ to the
ATO and the balance of the account is less than $6,000
were a temporary resident who has permanently departed
Australia and you did not claim your benefits within six
months of your departure (except if you are an Australian or
New Zealand citizen).
We will make all reasonable efforts to contact you in such
circumstances; however, it is important that you notify us of
any changes to your details.
Where your benefits become unclaimed money, we are
required to pay them to the ATO within certain timeframes.
After payment to the ATO, we are discharged from any further
liability for payment of the benefit and you may claim your
benefit by contacting the ATO. In some circumstances, tax
may be payable.
We rely on ASIC relief so we are not required to notify or
give an exit statement to a non-resident if we pay unclaimed
superannuation to the ATO.
Inactive accounts
Where the balance of your account is less than $6,000 at
31December or 30 June of any year and it is inactive, we are
required to pay the balance to the ATO, generally within four
months of these dates.
An account is deemed to be inactive where:
we have not received a contribution, rollover or other
amount into the account for 16 months, and
it does not hold insurance, and
you have made no change to your insurance coverage, and
there have been no changes to your investment
options,and
you have not met any of the prescribed conditions
ofrelease.
You can declare in writing that your account is to be exempt
from these rules by completing the relevant form and returning it
to us. However this notice will only be valid for 16 months, which
means you will need to provide such notice every 16 months.
Where we are required to transfer your benefits to the ATO,
we will sell down to cash any investments your account holds.
This may result in a loss or reduced gain for you. After all
redemption proceeds are available in the Wrap Cash Hub, we
will then transfer the benefits to the ATO (net of any applicable
fees, costs and taxes).
After payment to the ATO, we are discharged from any
further liability for payment of the benefit. The ATO is generally
required to pay any amounts it receives as inactive low balance
accounts to another superannuation account youhold.
ATO reporting
We are required to report certain details to the ATO under the
Member Account Attribute Service and the Member Account
Transaction Service. These details include:
your name, date of birth, address and tax file number
when your account was opened and closed
pension commencement value (if applicable)
contribution details
withdrawal details, and
30 June balance.
We are generally required to report these details within five or
ten business days of the relevant event occurring.
The ATO may use this information to provide their online
services and to administer contribution caps and the pension
transfer balance cap.
Eligible Rollover Fund (ERF)
The Trustee has elected and reserves the right to pay all
accounts with a balance up to $10,000 to an ERF, which
accepts small amounts. The ERF chosen is called the Super
Safeguard Eligible Rollover Fund.
APRA has approved the Super Safeguard Eligible Rollover
Fund to operate as an ERF. The trustee is Diversa Trustees
Limited ABN 49 006 421 638 AFSL 235153 RSEL L0000635.
Should your benefit be transferred to the Super Safeguard
Eligible Rollover Fund, all subsequent enquiries relating to your
benefit should be directed to:
Super Safeguard Eligible Rollover Fund
GPO Box 3426
Melbourne VIC 3001
Phone: 1300 135 181
Fax: 1300 135 191
Email: enquiries@supersafeguard.com.au
Website: supersafeguard.com.au
Should your benefit be transferred to the Super Safeguard
Eligible Rollover Fund:
your interest in the Fund, including your insurance cover,
will cease
you will become a member of the Super Safeguard Eligible
Rollover Fund and will be subject to its governing rules
your account will be invested according to the investment
strategy of the Super Safeguard Eligible Rollover Fund
the Super Safeguard Eligible Rollover Fund may charge
fees to your account, and
you may not be offered insurance cover.
You should refer to the Product Disclosure Statement for the
Super Safeguard Eligible Rollover Fund for more information.
We reserve the right to change the chosen ERF without notice
to you.
Consolidating your accounts
If you have more than one accumulation super account in
the Fund, the Trustee may consolidate these accounts into
a single account where it considers this to be in your best
interests. We will notify you, on an annual basis, where we
have consolidated any of your accounts.
50
Other information
About the Fund and Trustee
The activities of the Trustee and the Fund are regulated by
APRA and ASIC.
The trust deed
The obligations of the Trustee and the rights of the members
are determined by the trust deed (including the rules of the
Fund) and laws relating to superannuation. Some of those
provisions are discussed elsewhere in the PDS.
The trust deed and/or superannuation laws also cover
matters such as restrictions on borrowing by the Fund, the
effect of bankruptcy of a member, circumstances in which
benefits are payable, the powers and duties of the Trustee,
the appointment and removal of the Trustee, the liability and
indemnity of the Trustee, members’ contributions, withdrawals
and benefits, amendments to the trust deed and termination
of the Fund. If you require further information, the trust deed is
available free of charge from us.
Your rights
Super and Pension Manager II is one of several products
within the superannuation fund known as the Macquarie
Superannuation Plan.
You do not have a right to any particular underlying investment
held by us, or to participate in the management of the
investments.
The assets of all investment options can be legally available to
meet the liabilities of other investment options in the unlikely
event that the assets of that investment option are insufficient
to meet its liabilities.
Operationally, however, the Trustee will segregate and attribute
the assets to individual accounts.
Trustee
MIML is the trustee of the Fund. Our obligations as trustee
include (but are not limited to):
to choose the investment options available to members
within each investment strategy
to ensure the Fund operates in accordance with its trust
deed and continues to be a complying superannuation fund
to report regularly to you
to exercise its powers in the best interests of beneficiaries
of the Fund, and
to keep the Fund’s assets safe.
Whilst it is not intended in the foreseeable future, we may wish
to retire or change the trustee of the Fund.
How is investing in Super and Pension
Manager II different to investing directly in
underlying investments?
It is important to recognise that acquiring interests in underlying
investments such as managed investments and Australian
listed securities through Super and Pension Manager II is not
identical to holding these investments in your own right.
Please note the following differences:
the Trustee or its custodian will be the legal owner of the
assets rather than you. You may have a beneficial interest in
the Fund, but not in any specific asset of the Fund
cooling-off rights generally do not apply to the Eligible
Investments purchased through your account. These rights
generally allow you to cancel your investment within a period
of 14 days of you receiving confirmation of your investment
or five days after the initial investment (whichever is earlier)
transaction processing and unit pricing may differ
certain rights and obligations available to, or owing by, the
legal owner of an asset are exercisable by the Trustee,
rather than by you; for example:
instructions to brokers are made on behalf of the Trustee
and not in your own right, and
participation in regular or ad hoc meeting (such as
annual general meetings for listed companies)
you will not be eligible to vote at shareholder or unitholder
meetings (Trustee will exercise voting rights, on behalf
of the Fund, where required by any applicable laws or
regulations and in accordance with its voting policies) nor
participate in bonus share plans
for term deposits, your investment will be pooled with the
funds of other investors who wish to invest for the same
term as you. As a result, some of the features and functions
that may be described in the term deposit offer documents
may not be available to you
your eligibility under the Federal Government’s Financial
Claims Scheme will be different. See the Frequently asked
questions section for more details
when you make an initial or additional investment in an
underlying investment, there is a risk that you have not
considered the most recent PDS and other disclosure
document for the underlying investment, or that you have
not been made aware of recent material changes or
significant events affecting that investment
you will not receive correspondence (such as statements)
from the Eligible Investments
where a corporate action occurs and results in a compulsory
acquisition, you will not have the right to object, and
you can access managed investments, generally with
wholesale fees, which can be significantly cheaper than the
retail fees you would pay if you invested in each managed
investment directly.
Pooled operating accounts may be used by the Trustee or
its custodian. The pooled operating accounts will be trust
accounts held in the name of the Trustee or the custodian with
an Australian deposit-taking institution (including MBL) or an
approved foreign bank. If interest is earned on those accounts,
it may be retained by the Trustee or the custodian (pursuant to
the relevant custody deed) and not paid into the Fund.
51
Other information
Cooling-off period
If you decide that your initial investment does not suit your needs,
provided you have not exercised any of your rights or powers in
relation to your account, you can request in writing to have your
account cancelled during the period of 14 days starting on the
earlier of, when your transaction confirmation is received by you
or five days after your initial investment is accepted.
You may withdraw any unrestricted non-preserved component
of your investment or roll over to another superannuation
fund. Please note that generally all new contributions will
be preserved funds and cannot be returned to you. We
may be required to roll over any benefits held in Super and
Pension Manager II to another superannuation fund of your
choice. The amount payable will be adjusted for any market
movements, non-refundable taxes, duties paid or payable,
and reasonable transaction or administration costs incurred
by us in issuing your account. Therefore, depending on the
circumstances, the amount payable may be more or less than
the amountinvested.
Related party arrangements
Custodian
We have appointed BSCL to hold your superannuation and
pension money in custody. BSCL also liaises with the product
issuers of your investment options.
Related party issues
The Macquarie Group is a global provider of banking, financial,
advisory, investment and funds management services.
MIML, BSCL, MBL and the Authorised Broker are each part of
the Macquarie Group. The arrangements between us are on
arm’s length terms. We will monitor and review counterparty
arrangements with related parties to ensure they are carried
out efficiently and properly.
The Macquarie Group acts on behalf of institutional, corporate
and retail clients and counterparties around the world. MIML,
as the trustee for the Macquarie Superannuation Plan,
generally has no control over these activities. As a result,
from time to time underlying investments of the Fund may be
restricted, for example due to regulatory constraints applicable
to the Macquarie Group, and/or its internal policies designed
to comply with such constraints.
In certain circumstances, statutory or internal Macquarie Group
imposed restrictions may preclude the acquisition or disposal
of securities through the Fund. Without limitation, this includes
where the acquisition would cause the Macquarie Group’s
aggregated holdings in a company (including holdings that the
Macquarie Group is required to aggregate) to exceed applicable
takeover thresholds. In addition, where, due to such restrictions,
there is limited capacity to acquire particular securities, the Fund
will not have priority over any member of, or any other fund
associated with, the Macquarie Group to acquire those securities.
Such restrictions may result in an adverse effect on the value of
investments in the Fund due to the Fund being unable to enter
into positions or exit positions, as and when desired.
When we invest we may deal with other Macquarie Group
companies. These companies may receive commission and
may also be dealing as principal or dealing on behalf of other
accounts which are under the group management of the
Macquarie Group. Where we invest money of the Fund we
must deal with the other party to the investment transaction at
arm’s length terms.
Fees paid to other parties
We may pay BSCL a fee to hold the Fund’s assets. This
fee is not an additional fee to you, it is paid out of our
administrationfee.
Managing conflicts
Macquarie has systems and protocols in place to identify
conflicts of interest, a framework, including policies, for
managing conflicts and relevant conflicts of interest policies.
Any potential conflicts that may arise in the investment
selection process for Eligible Investments and Eligible
Insurance on the Investment Menu or as a result of related
party transactions are handled in accordance with this
conflicts management framework and the relevant policies.
MIML also has in place a Conflicts of Interest and Duties Policy
which documents how MIML manages conflict by controlling,
avoiding and disclosing any conflicts that may arise. A variety
of measures to manage any conflicts are in place, including
systems, whistleblowing and escalation procedures.
Privacy Statement
We may collect, hold, use and disclose personal information
about you to process your application, administer and manage
the products and services sought by and provided to you,
monitor, audit and evaluate those products and services,
model and test data, communicate with you and deal with any
complaints or enquiries.
We collect and record personal information through our
interactions with you and your nominated adviser(s), including
by telephone, email or online. We may also collect personal
information from public sources and third parties including
information brokers, Government departments or agencies
and our service providers. Without this information, we may
not be able to process your application or provide you with an
appropriate level of service.
We are required or authorised to collect your personal
information under various laws including Anti-Money
Laundering and Counter-Terrorism Financing Act 2006 (Cth),
Superannuation Industry (Supervision) Act 1993 (Cth), Taxation
Administration Act 1953 (Cth), Income Tax Assessment
Act 1936 (Cth), Income Tax Assessment Act 1997 (Cth),
Corporations Act 2001 (Cth), Life Insurance Act 1995 (Cth)
and Insurance Contracts Act 1984 (Cth).
Where you provide us with personal information about
someone else, you must first ensure that you have obtained
their consent to provide their personal information to us based
on this Privacy Statement.
52
Other information
Disclosure of your information
We may exchange your personal information with other
companies in the Macquarie Group as well as service
providers, which are described further in our Privacy Policy.
We may at your or your adviser’s request:
provide your adviser and other people working in or
for their organisation (Associates) with access to your
account details, balance, transaction history and personal
information (Data), and
share an electronic copy of your Data with third party service
providers used by you or your adviser in support of their
operations including accountants, consultants, technology
platform owner/operators or others (Third Parties).
Some of these people may be situated outside of Australia.
It’simportant that you understand we have no direct control
over, or responsibility for, how your adviser, their Associates
or Third Parties will use, disclose or protect your Data. If you
have questions about this, we recommend that you speak
with your adviser.
We may suspend or terminate access to or sharing of your
Data we directly provide to a person for any reasonable
cause without notice. Your historical Data may continue to be
accessed by your adviser and their Associates. If you’d like us
to stop any direct access to Data we provide to your adviser
or their Associates, or stop sharing your Data with any Third
Parties who we share it with directly, please contact us.
We may also disclose personal information to regulatory
authorities (eg tax authorities in Australia and overseas such
as the ATO (Australia) and HMRC (UK)) in connection with their
lawful information requests or to meet our legal obligations
in any relevant jurisdiction. The third parties with whom
we exchange personal information may operate outside of
Australia (this includes locations in the Philippines, India and
the United States of America) and the countries specified in
our Privacy Policy. Where this occurs, we take steps to protect
your information against misuse or loss.
Marketing
We and other companies in the Macquarie Group may use
your personal information to contact you on an ongoing basis
by telephone, electronic messages (like email), online and
other means to offer you products or services that may be of
interest to you, including offers of banking, financial, advisory,
investment, insurance and funds management services, unless
you change your marketing preferences by telephoning us as
set out below or visiting macquarie.com/optout-bfs
Your rights and further details
Under the Privacy Act 1988 (Cth), you may request access
to your personal information that we hold. You can contact
us to make such a request or for any other reason relating to
the privacy of your personal information by telephoning us on
1800 025 063 or emailing privacy@macquarie.com. Please
mark communications to the attention of our Privacy Officer.
You may also request a copy of our Privacy Policy, which
contains further details about our handling of personal
information, including how you may access or update your
personal information and how we deal with your concerns.
The Privacy Policy can also be found via
macquarie.com/au/about/disclosures/privacy-and-cookies
53
Please refer to the TIB for general technical information to help
you understand your superannuation, including:
your ability to make super contributions and contributionlimits
preservation rules and other rules for accessing your benefits
minimum pension payment amounts
tax arrangements applying to contributions
taxation of income earned in the Fund and benefits paid from
the Fund
how family law matters may affect your superannuation.
Child superannuation accounts
You are able to establish a superannuation account in the
name of a minor, provided you are a parent, guardian or legal
personal representative, by completing the appropriate section
of the application form.
Please note: The child’s tax file number must be
quoted in order to accept contributions made on
behalf of the child.
When the child turns age 18, they must agree to our terms and
conditions by signing a new application form. Their account
number and details will remain unchanged as a result of this.
Conditions of release for preserved benefits
You can only access your preserved superannuation benefits
(including benefits payable under insurance policies you hold
through the Fund) once you have met a condition of release.
Some conditions of release have restrictions on the amount you
can access, while others (such as retirement) allow unrestricted
access. Please refer to the TIB for furtherinformation.
Taxation
The laws relating to superannuation, including tax laws, can
be complex. Please refer to the TIB for a summary of relevant
taxation matters relating to your superannuation account. We
recommend that you seek professional tax advice that will
consider your individual circumstances.
Amounts transferred from a foreign
superannuationfund
If you are transferring an amount you hold in a foreign
superannuation fund into your account, the Australian tax
arrangements can depend on your residency status and when
the benefits are transferred. If you transfer your entire foreign
superannuation fund, and part of the transfer includes an
amount assessable to you as ‘applicable fund earnings’, you
may be able to choose to have this amount taxed in the Fund
instead of at your marginal rate. This amount may be excluded
from the contribution caps. If you are considering transferring
benefits from a foreign scheme into the Fund, it is important
that you seek specialist advice on both the overseas and
Australian tax treatment. We suggest you speak to an adviser
for more information.
How tax is deducted
Contributions to Super Manager II
The tax treatment of your one-off direct debit, direct credit
and SuperStream contributions will be based on the
contribution type. Tax of 15 per cent on taxable contributions
will be deducted from the Wrap Cash Hub either at the time
of the contribution or, in the case of personal deductible
contributions, after we have received your deduction notice.
Income earned in Super
Tax of 15 per cent will be deducted from the Wrap Cash
Hub when distributions, dividends or income payments
areprocessed.
If we subsequently establish that the tax payable in respect
of these amounts is less than 15 per cent, we may adjust the
amount of tax deducted from the Wrap Cash Hub during our
end of year tax processing (see Annual taxation adjustments
below).
Treatment of capital gains
Where you have purchased multiple parcels of the one asset
and subsequently sell part of your holdings, the Fund will
ordinarily calculate the capital gain/loss on a First In First Out
basis. This means the first parcel of an asset purchased is
treated as being sold first. We may change the capital gains
treatment at our discretion and without notice to you.
Withdrawals from Super
When you withdraw or roll over all or part of your account,
we will deduct an estimate of capital gains tax of up to 15 per
cent. If you make a partial withdrawal and we subsequently
establish that the capital gains tax payable is less than 15
per cent, or that a capital loss is attributable to your account
which can be offset against such gains, we will credit the
surplus tax to your account, via the Wrap Cash Hub. This
calculation forms part of the annual taxation adjustments (refer
below for more details).
PAYG withholding
We may be required to withhold PAYG tax on benefits paid
from the Fund to you (or your beneficiaries in the case of
death benefits). The amount of tax withheld may depend on
the type of benefit and your age. If you are aged 60 or more at
the time you receive a benefit, no tax will be withheld.
Understanding superannuation
Superannuation is a way to save for your retirement. It is a long-term investment.
You usually cannot access your super until you have reached your preservation
age (age 55 if you were born before 30 June 1960) and retired, but there are
some special circumstances where you can withdraw it earlier than this.
54
Understanding superannuation
If you have more than one Pension account and are less
than age 60, you should complete a separate tax file number
declaration for each pension. This allows us to determine
the amount of tax that is required to be withheld from your
pension payments. You can only claim the tax-free threshold
on one Pension account. However, no tax file number
declaration is needed if you are aged 60 or more when you
begin receiving pension payments.
Deductible expenses in Super
The Fund may claim a tax deduction on some of the expenses
debited from the Wrap Cash Hub. If this is the case, the
Wrap Cash Hub will be credited for the tax effect of any tax
deduction claimed in respect of those expenses.
Franking credits
Provided your account remains open during our end of year
tax processing, your account will receive the benefit of franking
credits applicable to your investment distributions/dividends,
where the refund of such credits is permitted by law. The
benefits of franking credits will be allocated to your account as
part of this tax process (refer below for more details).
Stamp duty
Stamp duty, where payable on your account, will be debited
from the Wrap Cash Hub when incurred.
Calculating tax at your individual level
Our Fund tax accounting procedures seek to ensure that the
tax liability is borne equitably between members, having regard
to the particular investments chosen by each member.
For example, for most investments available through your
account, tax is not paid at the investment option level and
superannuation funds that invest in them may be liable for:
tax at 15 per cent on any taxable income distributed to
them, and
tax of up to 15 per cent on any capital gain distributed to
them or arising from the sale of the asset.
If you have selected insurance cover through your account,
the Fund may be able to claim a tax deduction for part or all of
the premium. Where this is the case, the Wrap Cash Hub will
be credited for the tax effect of any tax deduction claimed in
respect of those insurance premiums.
Annual taxation adjustments
The annual taxation adjustments are processed for the tax
year ending 30 June and are generally only completed after
the superannuation fund’s tax refund has been received from
the ATO. If you close your account(s) prior to this annual
processing being completed, you will not receive the benefit
of any such tax adjustment. Should you move from Super
Manager II to Pension Manager II during the year (and close
your Super account), the taxation adjustment will apply to both
accounts, provided at least one account remains open. For
further information, please speak with your adviser.
Social security
You should be aware that your investment in and withdrawals
from your account may affect your entitlement to social
security benefits, including a Centrelink or Department of
Veterans’ Affairs age pension. We recommend that you seek
social security advice prior to opening your account.
Tax file number collection
Collection of tax file numbers (TFNs) is authorised by tax
and superannuation laws. By providing your TFN to your
superannuation fund, you will allow the Trustee to use your
TFN for purposes authorised by superannuation and tax laws.
The purposes currently authorised include:
withholding tax on benefit payments at concessional rates
passing your TFN to the ATO
allowing the Trustee to provide your TFN to another
superannuation fund or Retirement Savings Account (RSA)
if your benefit is transferred to that fund. However, we will
not do so if you advise us in writing that you do not want
us to pass it on, and
locate accounts in the Fund or consolidate certain accounts
within the superannuation environment.
You are not required to provide your TFN. Declining to quote
your TFN is not an offence; however, if you do not give your
superannuation fund your TFN, either now or later:
we cannot accept contributions made by you or someone
else on your behalf (other than your employer)
the tax on contributions to your account may increase;
for example, employer contributions may be subject to an
additional no-TFN tax at the rate of 32 per cent
you may pay more tax on your superannuation benefits
than you have to (you may get this back in your income tax
assessment), and
it may be more difficult to find your superannuation benefits
if you lose contact with your superannuation fund.
As a result of legislative amendments, the lawful purposes for
which your TFN can be used and the consequences of not
quoting your TFN may change in future.
Superannuation and family law
Superannuation law and family law facilitate the splitting of
superannuation interests between spouses in the event of a
relationship breakdown. The Trustee may create a separate
interest in the Fund for the non-member spouse, or transfer
the non-member’s entitlements to the Super Safeguard Eligible
Rollover Fund, in line with the provisions of the Superannuation
Industry (Supervision) Act 1993 (Cth). In accordance with the
law, we may charge an administration fee in relation to such
arrangements. Please refer to the TIB for further information.
55
Estate planning
In the event of your death:
existing adviser service and adviser transaction fees will cease
we will continue to deduct applicable administration
fees until the payment of your superannuation benefit is
authorised by the Trustee and your account is closed, and
your investments will continue to be invested in accordance
with the most recently selected investment strategy,
including transactions that may be triggered by automated
plans, until we receive other instructions from a properly
authorisedperson.
Death benefits can be paid as a lump sum, pension or
combination of both. However, only certain beneficiaries who
have been nominated by you are eligible to receive your death
benefits as a pension.
Who is a dependant?
Under current superannuation law a dependant includes:
your spouse
your children of any age
a person with whom you have an interdependency
relationship, or
a person who is otherwise your dependant (typically this
would be someone who was financially dependent on you
just before you died).
Nomination options
There are a number of options for nominating to whom, and
in some cases how, your benefit may be paid in the event of
your death:
1. No nomination
2. Non-lapsing death benefit nomination
3. Reversionary pension nomination (pension only)
4. Child pensions.
Your nomination must be in respect of one or more of your
dependants or your legal personal representative.
1. No nomination
If you do not nominate a beneficiary, your account
balance will generally be paid as a lump sum to your
legal personal representative who will distribute your
account balance as part of your estate assets. If, to our
knowledge, there is no legal personal representative and
we have a reasonable belief that there will not be a legal
personal representative appointed, your account balance
will be paid to next of kin, who is also a dependant.
2. Non-lapsing death benefit nomination
To make a nomination, simply complete the Non-lapsing
death benefit nomination form. If you have more than
one account (for example, if you have both a Super and
a Pension account) within the Fund, you can complete a
separate non-lapsing death benefit nomination for each
individual account. If you do not specify the additional
account(s) to which your nomination is to apply, your
nomination will apply to the account specified on the form
only, until revoked or amended.
A non-lapsing death benefit nomination can only be made,
altered or revoked by you in respect of your benefits. A
power of attorney, or any other agent, cannot make, alter
or revoke a non-lapsing death benefit nomination.
Because your nomination will not automatically lapse, it
is important that you periodically review your nomination
to ensure you still wish us to pay the person(s) you have
nominated. In addition, unlike a will, your non-lapsing
nomination will not automatically become invalid in the
event of marriage, divorce or any other life-changing
event. We will include the details of your nomination as
part of your annual member statements and you can also
view your nomination online.
Where we have consented to you making a nomination,
we will pay your benefit to the person(s) you have
nominated as long as:
the person(s) you have nominated are your dependants
at the time of death, and
your nomination has been made in writing and is signed
by you in the presence of two witnesses who are over
18 years of age and not named as beneficiaries in
yournomination.
We can only consent to you making a nomination in
respect of one or more of your dependants or your legal
personalrepresentative.
If we have consented to you making a nomination to pay
one or more dependants and that nomination, or a part
of it, is no longer valid at the time of payment, we will pay
the non-valid portion of your death benefit to your legal
personal representative (your estate). The Trustee will pay
the valid portion of your benefit in accordance with that
part of your nomination which is valid.
The person(s) nominated as beneficiary can elect to receive
the benefit as a lump sum payment, by commencing a
death benefit pension or a combination of both. We can only
pay your death benefit as a pension if, at the time of death,
the recipient is either:
a dependant of yours (for example, your spouse, a
financial dependant, or a person with whom you have
an interdependency relationship) who is not a child, or
a child of yours who is:
less than age 18, or
aged 18 to 24 inclusive and is financially dependent
on you, or
aged 18 or more and has a qualifying disability
(broadly, this is a disability that is permanent or likely
to be permanent and results in the need for ongoing
On your death, your superannuation benefits in the Fund may be treated
differently to other assets you own. The Trustee of the Fund is generally required
to pay your benefits as soon as practicable after your death either directly to one
or more of your dependants or to your legal personal representative.
56
Estate planning
support and a substantially reduced capacity for
communication, learning or mobility).
Please refer to Child pensions in this section for further
details about child pension nominations.
Where a beneficiary chooses to receive the benefits as a
death benefit pension, they cannot combine that pension
with their own member benefits.
Because there are special rules regarding how benefits can be
paid from a superannuation fund in the event of your death,
care should be taken when making your nomination as you
may need to consider the impact it could have on your overall
estate planning. You may wish to seek legal advice.
You may revoke or change your nomination at any time
bycompleting a new Non-lapsing death benefit nomination
form.
3. Reversionary pension nomination (Pension only)
If you validly nominate a reversionary pension beneficiary,
the Trustee will be bound by it. This means that we will pay
your benefit as a pension in the way you nominate.
The person you nominate must be either:
a dependant of yours (for example, your spouse, a
financial dependant, or a person with whom you have an
interdependency relationship) who is not a child
a child of yours who is:
less than age 18, or
aged 18 to 24 inclusive and is financially dependent
on you, or
aged 18 or more and has a qualifying disability
(broadly, this is a disability that is permanent or likely
to be permanent and results in the need for ongoing
support and a substantially reduced capacity for
communication, learning or mobility).
We will not accept a reversionary pension nomination made
by an attorney or any other agent.
To receive your benefit, the beneficiary you have nominated
must meet one of the criteria listed above at the time
of your death. If your reversionary pension beneficiary
predeceases you, we will generally pay your death benefit
to your legal personal representative.
Please note: A reversionary pension nomination
can only be made when a pension commences.
If the law does not permit the Trustee to pay the nominated
reversionary beneficiary a pension upon your death, but your
nomination is otherwise valid, we will pay the death benefit to
the nominated reversionary beneficiary as a lump sum.
A reversionary pension nomination can only be revoked
by you where the person nominated is no longer a valid
dependant under superannuation law. An attorney or any
other agent cannot revoke a reversionary nomination.
4. Child pensions
Under certain circumstances you may wish to nominate a
qualifying child of yours to receive your death benefit as a
childpension.
What is a child pension?
A child pension is a simple way to provide tax-effective income
to your minor children (under 18 years of age), or certain other
children that have a financial or disability dependency, in
the event of your premature death. This means that you
can nominate either part or all of your benefit to be paid
as a child pension to one or more of your children. With
the exception of a child who qualifies on disablement
grounds, a child pension cannot continue beyond the
child’s 25th birthday (and any remaining balance in the
account must be commuted as a lump sum withdrawal at
that time).
The benefits of a child pension may include:
the payment of a regular income stream that, subject
to the prescribed minimum payment, can be structured
to suit your child’s needs
the flexibility to restrict access to lump sum cash
withdrawals from the fund until your child reaches
a nominated age of up to 25 years (or earlier where
required by law)
tax-effective treatment of income payments, and
generally tax-free treatment of any lump sum that is
paid to the child from the pension.
Generally, the pension must be paid in trust for the
child’sbenefit.
When the child turns age 18, they must agree to our
terms and conditions by signing a new application form.
If your nomination of a child pension is made in the
prescribed manner and is consented to by the Trustee then
it will be binding on the Trustee provided the law permits the
child to be paid a pension upon your death. If the law does
not permit us to pay a child pension but your nomination
is otherwise valid, we will pay the relevant portion of your
benefit to the nominated child as a lump sum.
You may also further direct us as to the restrictions, if any,
which are to apply. However, your child will have a legal
right to request a rollover from the fund, in which case
these restrictions will no longer apply to the receiving
fund. Where we agree to the terms of the child pension
as specified by you in your nomination, the terms cannot
be changed after you die. As we agree to be bound by
your instructions in advance it is very important that your
nomination is kept up to date.
At any time, by completing a new child pension schedule
and, if required, a new Non-lapsing death benefit
nomination form, you may change:
the child you have nominated
your request to pay all or part of your benefit as a child
pension, or
the terms of the child pension.
How to apply for a child pension
Complete the Non-lapsing death benefit nomination form
and a Child pension schedule available from your adviser
or from us. On it you can nominate your beneficiaries and
give us additional directions relevant for the child pension.
A child pension nomination can only be made, altered or
revoked by you in respect of your benefits. A power of
attorney, or any other agent, cannot make, alter or revoke
the details of a child pension nomination.
Child pensions are subject to terms and conditions.
Further information is available from your adviser, or
fromus.
57
Question Answer
When will I receive
confirmation of my account
being opened?
We will open your account once we have received all of the completed documentation. You will be sent a
welcome communication and, if you do not have an existing Macquarie account, a Macquarie ID so that
you can access Macquarie Online.
Can I view my account
online?
Yes. Macquarie Online at macquarie.com.au/personal provides you with access to your account online
anytime. You can access a variety of account information, including reports on your investment values,
transactions, income and expenses. You can also access your periodic statements.
How do I change my
contact details?
If your contact details change, you or your adviser may update your contact details online or by
completing a Change of account details form, available online or from your adviser. Because your mobile
phone number is used for security identification verification purposes, it cannot be updated online.
How do I change the fees
I authorise to be deducted
from my account?
You can change the fees that you authorise to be deducted from your account by completing a Change
of account fees form, available online or from your adviser.
What happens if I change
my adviser?
Your Super and Pension Manager II account has been designed for investors who have advisers to assist
them with personal advice in respect of their investments. You may change advisers at any time by giving
us written notice of the change, provided the new adviser is already registered with us. If your adviser is
not registered with us, we will seek to assist them in becoming registered.
If you do not have an adviser, you will not be able to transact on your account online. In this
circumstance, we will accept written instructions from you to place transactions on your account. If you
choose to continue to operate your account without an adviser, you may be adversely affected, including
delays in processing your written instruction as opposed to an adviser placing your transactions online.
This may have a material effect on your investment particularly during market fluctuations and higher
than usual processing volumes. It may also mean that you may no longer have the ability to purchase
additional units in certain managed investments you hold that your former adviser was able to access.
The applicable administration fees and costs will continue to be deducted from your account until such
time as you close your account.
If you wish to close your account, please refer to Closing your account in the How do I withdraw? section
in this PDS.
Our policy for clients without registered advisers is available upon request free of charge.
If I have a complaint, what
do I do?
If you have a complaint:
contact your adviser and discuss your enquiry or complaint with them
if you are not satisfied with the result, you may telephone us on 1800 899 485, or
it may then be necessary to write to us. You can write to us at:
The Complaints Manager
Macquarie Wrap
GPO Box 4045 Sydney NSW 2001
Email: complaints@macquarie.com
We will ordinarily respond to your written enquiry or complaint as soon as possible but within 45 days
ofreceipt.
If you are not satisfied with our handling of a matter, you can request your complaint to be reviewed free
of charge by contacting either the Macquarie Customer Advocate or Australian Financial Complaints
Authority (AFCA), an external dispute resolution scheme, of which Macquarie is a member.
The Customer Advocate’s role is to review the reasonableness and fairness of the outcome of your complaint.
You may contact our Customer Advocate as follows:
The Customer Advocate
Macquarie Bank Limited
GPO Box 4294
Sydney NSW 1164
Tel: 1800 898 307
Email: customeradvocate@macquarie.com
If you are not satisfied with our response after 90 days, you can lodge a complaint with AFCA. AFCA
provides independent financial services complaint resolution.
You can contact AFCA as follows, quoting membership number 10635:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Tel: 1800 931 678 (free call)
Email: info@afca.org.au
Website: www.afca.org.au
Frequently asked questions
58
Frequently asked questions
Question Answer
How does the Australian
Government’s guarantee
on bank deposits apply to
my superannuation?
When you invest into deposits (such as the Wrap Cash Hub or term deposits), your funds are pooled
with other members and held in trust by the Fund. As a result, you do not directly become an account
holder in the deposit product and you will not be entitled to protection by the Federal Government’s
Financial Claims Scheme (FCS). However, you may have a pro-rata entitlement to the Fund’s aggregate
cap amount of $250,000 per deposit account per ADI. This entitlement ranks in proportion with all other
members’ Wrap Cash Hub and term deposit holdings.
Please contact us or your adviser if you would like further information on how the Federal Government’s
FCS may indirectly apply to your interest in the Fund’s Wrap Cash Hub holdings and any term deposits.
Further information about the FCS can be obtained from the APRA website at www.fcs.gov.au and by
phone on 1300 558 849 (or +61 2 8037 9015) if calling from overseas).
Where can I locate the TIB
and Investment Menu?
The TIB and the Investment Menu are available
at macquarie.com.au/supertech and macquarie.com.au/supermenu
59
Some of the terms used within this PDS have a specific meaning as set out below.
Account, Super product, Super
account, Pension product,
Pension account, Super and
Pension Manager II
Macquarie Super and Pension Manager II.
Adviser The licensed financial planner or financial planning business who you have nominated as your adviser
and who is registered to use the relevant superannuation or pension product.
Application form The form that must be completed and you must provide acknowledgement for, before opening
your superannuation or pension account. The application form is the contract between you and the
Trustee in respect of the relevant superannuation or pension account.
APRA Australian Prudential Regulation Authority.
ATO Australian Taxation Office.
Australian listed securities Listed securities or other listed investments which are available on the ASX or such other exchanges
as are approved from time to time and which have been subject to our menu selection process.
Australian Securities Exchange,
ASX
Australia’s primary securities exchange or market which facilitates trading in a range of
financialinstruments.
Authorised Broker The Macquarie Group entity that is authorised from time to time to provide brokerage services for
theFund.
Available cash The amount of cash accessible in the Wrap Cash Hub for transacting and withdrawals, after taking
into account outstanding orders, fees and the minimum cash requirement.
Business Day A day, in Sydney, that is not:
a Saturday or Sunday
a public, bank or special holiday, or
27 to 31 December inclusive.
Child For super and tax law purposes, a child of a person includes:
an adopted child, a stepchild or an ex nuptial child of the person
a child of the person’s spouse, and
someone who is a child of the person within the meaning of the Family Law Act 1975 (Cth).
Client, you or your The person named in the application form accepted by us and includes successors, executors,
administrators, substitutes and assigns of such person.
Commutation authority An authority issued by the ATO requiring a super fund to withdraw funds in a pension due to a
breach of the transfer balance cap. The amount to be released will be the excess amount over the
individual’s transfer balance cap, plus associated earnings.
Compassionate grounds A condition of release for preserved and restricted non-preserved superannuation benefits. In limited
circumstances, you may apply to the relevant government department to have your benefits released
as a lump sum to pay for certain expenses relating to:
medical treatment for you or your dependants
preventing foreclosure of a mortgage or power of sale over your home
modifying your home or vehicle to accommodate special needs arising from a severe disability
palliative care expenses
expenses associated with your dependant’s palliative care, death, burial or funeral.
Benefits paid under this condition of release are limited to an amount determined by the relevant
government department.
Concessional contributions Generally contributions that your employer makes, or that you make personally and claim as a
tax deduction. These are generally included in the assessable income of the Fund and taxed at
15percent. There is an annual limit on the amount of concessional contributions you can make,
known as the concessional contributions cap. Certain concessional contributions for higher income
earners are taxed at an additional 15 per cent. The additional 15 per cent does not apply to
concessional contributions that exceed the concessional contributions cap.
Concessional contributions
cap For the 2019/20 income year the annual concessional contribution cap is $25,000.
Condition of release
A condition you must meet before you can access your preserved and restricted non-preserved
benefits. The conditions of release are set down in superannuation legislation. Examples are
retirement, reaching preservation age, reaching age 65 and permanent incapacity. Some conditions
of release have restrictions on the amount of, or form in which, you can take your benefits while
others (such as retirement) allow unrestricted access.
Custodian, BSCL
Bond Street Custodians Limited ABN 57 008 607 065 AFSL 237489.
Dealer, Dealer group
The legal entity or organisation that your adviser represents in the provision of financial product
advice to you.
Terminology used
60
Terminology used
Disability superannuation
benefit A superannuation benefit that is paid to a person because he or she suffers from ill health (whether
physical or mental); and two legally qualified medical practitioners have certified that, because of the
ill health, it is unlikely that the person can ever be gainfully employed in a capacity for which he or she
is reasonably qualified because of education, experience or training. These benefits can qualify for
additional tax concessions.
Eligible Insurance
The insurance options you and/or your adviser may select from the Investment Menu made available
by the Trustee.
Eligible Investments
The investment options you and/or your adviser may select from the Investment Menu made available
by the Trustee.
Excess concessional
contributions
Concessional contributions in excess of the concessional contributions cap. These contributions may
be subject to additional tax.
Excess non-concessional
contributions
Non-concessional contributions in excess of the non-concessional contributions cap. These
contributions may be subject to additional tax.
Fund
The Macquarie Superannuation Plan (ABN 65 508 799 106), within which Macquarie Super and
Pension Manager II is one of several products.
HMRC
Her Majesty’s Revenues and Customs Office.
Illiquid investments
Broadly, an investment in relation to your interest in the Fund is an illiquid investment if:
it is of a nature whereby it cannot be converted to cash in less than the time required to roll over or
transfer a withdrawal benefit (typically 30 days) or
it can be converted to cash within the relevant time period, but converting it to cash within this
period would be likely to have a significant adverse impact on the realisable value of theinvestment.
Interdependency relationships Two people will typically have an interdependency relationship if:
they have a close personal relationship, and
they 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 and personal care.
If two people have a close personal relationship but do not satisfy the other conditions referred to
above because either or both of them suffer from a physical, intellectual or psychiatric disability, they
may nevertheless have an interdependency relationship.
Investment Menu
The Investment Menu is incorporated by reference into the relevant PDS (Document number
MAQSIM03) and outlines all Eligible Investments and Eligible Insurance made available by the Trustee
as investment and insurance options you and/or your adviser may select.
Low rate cap amount The concessional tax threshold applying to the taxable component of lump sum superannuation
benefits paid to individuals who have reached their preservation age but are under the age of 60. The
low rate cap is a lifetime limit. The 2019/20 amount is $210,000.
Macquarie Bank, MBL
Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502.
Macquarie Online The facility offered and maintained by Macquarie by which users are able to access Macquarie software
containing client data, and to transact from a remote location, including by way of telephone and internet.
This facility includes associated data, information and software owned by or licensed to Macquarie.
Macquarie Wrap
Macquarie Wrap is provided by MIML. MIML is an entity within the Macquarie Group that provides a
wrap platform of which Super and Pension Manager II is one of several products.
Mandated employer
contributions
Compulsory contributions made by your employer, based either upon Superannuation Guarantee
requirements or workplace awards or agreements.
Nominated broker
Any broker that you authorise to deal with the Fund in respect of the settlement of your Australian
listed securities transactions.
Non-concessional
contributions, NCCs
Generally contributions made by an individual for which no tax deduction is claimed and therefore are
not included in the assessable income of the Fund. There is an annual limit on the amount of non-
concessional contributions you can make, known as the non-concessional contributions cap.
Non-concessional
contributionscap
The annual limit on the amount of non-concessional contributions made for you. The non-
concessional contributions cap is four times the standard concessional cap (ie four times $25,000
for2019/20).
If you are under 65 at any time in a financial year, you may ‘bring forward’ up to two future years’
contribution entitlements so as to contribute a maximum of three times the annual non-concessional
contributions cap for a three year period. If your total superannuation balance as at 30 June of the
previous financial year is between $1.4 million and under $1.6 million, the amount you can contribute
under the ‘bring forward’ rule is restricted. For balances between $1.4 million and under $1.5million,
you can ‘bring forward’ one future years’ contribution entitlement. If your balance is at least
$1.5million and under $1.6 million, you are not eligible to use the ‘bring forward’ rule.
61
Terminology used
PDS
A Product Disclosure Statement (PDS) is a document, or several documents, that contains information
about a financial product including any significant benefits and risks, the cost of the financial product and
the fees and charges that the financial product issuer may receive.
Permanent incapacity
A condition of release for preserved and restricted non-preserved superannuation benefits. For you
to qualify
under this condition, the Trustee must be reasonably satisfied that because of your ill health
(whether physical
or mental), you are unlikely to engage in gainful employment for which you are
reasonably qualified by education, training or experience. You must provide the Trustee with specific
documentation confirming your permanent incapacity.
If you qualify, your benefits may be accessed as a pension, a lump sum or a combination
of both. Certain tax concessions may apply if the benefit meets the definition of a disability
superannuationbenefit.
Proportioning rule
The rule requiring the tax components to be paid in proportion to the components of your
superannuation interest in the Fund. In the case of a lump sum or rollover, the components will be
determined in proportion to the tax-free and taxable components of your superannuation interest in
the Fund at the time of payment. You are generally unable to open more than one account so, for
this purpose, your superannuation interest is your account.
In the case of a pension, the payments from your account (including pension payments and lump
sums) are paid in proportion to the tax-free and taxable components in the account at the time the
pension commenced.
Release authorities
An authority issued by the ATO permitting a super fund to ‘release’ funds in order to pay excess
contributions tax, excess contributions or other amounts permitted by the ATO.
Retirement phase income
stream
An income stream that counts towards the individual’s transfer balance account. Includes account-
based pensions and transition to retirement pensions where certain conditions of release (including
the retirement, permanent incapacity, terminal medical condition and reaching age 65 conditions of
release) have been met.
Investment earnings that relate to a retirement phase income stream are exempt from tax.
Separately Managed Account,
SMA
A type of managed investment scheme that is not unitised and allows you and your adviser to access
a portfolio of investments professionally managed according to a defined investment strategy.
Severe financial hardship
A condition of release for preserved and restricted non-preserved superannuation benefits under
which you can access part of your benefits as a lump sum if you suffer severe financial hardship.
To be eligible for release of benefits on the grounds of severe financial hardship, you must have
been in receipt of Commonwealth income support for a minimum period and, depending on your
age, must also be able to satisfy the Trustee of your fund that you are unable to meet reasonable
and immediate family living expenses. You must provide the Trustee with specific documentation
confirming that you meet these requirements.
Spouse For the purposes of super and taxation law, the spouse of a person includes:
another person who is legally married to the person
another person (whether of the same sex or a different sex) with whom the person is in a
prescribed kind of relationship that is registered under a State or Territory law prescribed for the
purposes of the Acts Interpretation Act 1901(Cth), and
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.
Superannuation lump sum Payments from superannuation entities other than income stream benefits.
Taxable component The amount equal to the balance of your superannuation interest or pension account that is not the
tax-free component.
Tax-free component The tax-free component of your superannuation interest is broadly, the total of a ‘contributions
segment’ and a ‘crystallised segment’. The ‘contributions segment’ is broadly equal to the tax-free
contributions (or rolled over amount) received after 30 June 2007 in relation to that interest. The
‘crystallised segment’ is based on the withdrawal value of your interest as at 30 June 2007, less the
amount of the post-June 83 component if it had been paid as a lump sum on that date.
The tax-free component of payments from a pension account is determined as a fixed proportion at
the time the pension commenced.
Technical Information Booklet,
TIB
The Technical Information Booklet (TIB), incorporated by reference into the relevant PDS (Document
number MAQST01), contains general technical information to help you understand your superannuation.
Temporary incapacity A condition of release for preserved superannuation benefits. To qualify under this condition, you
must suffer from ill health (whether physical or mental) that caused you to cease to be gainfully
employed but does not constitute permanent incapacity. Only disability income/income protection
insurance benefits can be accessed under this condition of release. Benefits can only be paid as a
particular form of income stream.
62
Terminology used
Temporary resident
permanently departing
Australia
A temporary resident of Australia (excluding New Zealand citizens) who leaves permanently can
apply to the Trustee, or, if the benefit has been transferred to the ATO, the ATO, to have their benefits
released as a lump sum. For ATO applications, a temporary resident may apply online via the ATO
website, or they can lodge a paper-based application (with supporting documentation where required).
There are special tax rates applying to Departing Australia Superannuation Payments. Any payment
received will be net of any applicable tax.
Temporary residents who do not claim their benefits within six months will have their benefits
transferred to the ATO. Any benefits held by the ATO will not earn interest and it would be best to
claim any benefits quickly to avoid the erosion of its value.
Terminal medical condition A condition of release for preserved and restricted non-preserved superannuation benefits. Under
this condition of release, if you are suffering from a terminal illness, you may be able to access
your benefits as a tax-free lump sum. For you to qualify, two registered medical practitioners must
have certified that you suffer from an illness or have incurred an injury that is likely to result in your
death within a period (the certification period) of 24 months from certification. One of these medical
practitioners must be a specialist practising in an area related to your condition. In addition, for each
medical certificate, the certification period must not have ended. You must provide the Trustee with
specific documentation confirming your medical condition.
Total superannuation balance The total of an individual’s:
accumulation phase interests (including transition to retirement pensions not in the retirement phase)
transfer balance account modified to reflect:
the current value of account-based income streams
disregarded amounts related to personal injury contributions, and
rollovers in progress.
Transfer balance cap A limit on the amount that can be transferred to a retirement phase income stream(s). Where a
transfer balance cap is exceeded, the individual may incur a tax liability. For the 2019/20 income year
the general transfer balance cap is $1,600,000.
Trustee, MIML, we, us, our Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237492 RSEL L0001281.
Wrap Cash Hub The Wrap Cash Hub forms part of your account and is held through the Fund’s custodian with MBL.
It is the central cash flow account for all regular transactions into and out of your account.
1 of 35
Please ensure all relevant attachments are included.
Please take a moment to review this list to assist in the timely processing of your Super and Pension Manager II application form. We suggest
that you check each section in the list below to assist you in successfully completing this application form.
Have you completed the relevant sections?
Please ensure you have:
asked your adviser to complete their dealer code and adviser code details in section A
your identification information and supporting evidence in section 1
your personal and TFN details in sections 2 to 3
for a superannuation account, completed sections 4 to 13
for a pension account, completed sections 4 to 9, then 14 to 17
signed the client declaration in section 18.
All sections are mandatory, unless specifically stated. If you do not complete one or more sections, your application cannot
beprocessed.
Are cheques completed correctly?
Cheques must be made payable to:
MIML Super Manager II (full account name), for superannuation accounts or
MIML Pension Manager II (full account name), for pension accounts.
If a cheque is not made payable correctly you may need to have it re-issued.
All investments by cheque or rollover will be credited to your Wrap account.
Are contributions included?
Ensure you have indicated the contribution type in section 12 or 16 (where applicable).
Spouse contributions – if you are making the contribution for the benefit of your spouse, the application form must be in the name
of, and signed by, your spouse (the person receiving the contribution).
‘Other’ contribution types claimed must include appropriate documentation.
For in-specie contributions please ensure all required documentation is provided with this application.
Is a rollover coming from another fund?
All rollover amounts must be accompanied by a Rollover Benefit Statement (available from the other fund).
Ensure a Rollover authority is sent to the paying institution (if applicable).
Rollover authorities attached to this application which do not indicate that they have already been sent to the paying institution will
be forwarded (electronically where applicable) to the relevantinstitutions.
If you are opening a pension account, all rollover and contribution details must be included on this application. Any amounts not
included with your pension application CANNOT be accepted into your pension account.
For in-specie rollovers please ensure all required documentation is provided with this application.
Are the adviser and dealer fees correct (in section 13 and/or 17)?
Please ensure all fees have been completed as GST exclusive (we will apply GST net of the effect of any reduced input tax credit
to the base fee set by your adviser or dealer).
Any amendments to the fees must be signed in full by you (please do not use correction fluid).
Super and Pension Manager II
Application checklist
macquarie.com.au
Super and Pension Manager II Application form
2 of 35
Are you including other documents?
For superannuation accounts, a Direct debit request (if required) is attached on page 19.
For pension applicants under 60, a Tax file number declaration form is required and is available on page 35. Complete sectionA,
Questions 1 to 11 ensuring that question 6 on that declaration is selected for ‘Superannuation income stream’. For child pension
accounts, where the child is under 18, the parent/guardian must complete the Tax file number declaration.
Do you have any existing insurance cover?
Where applicable, do not cancel any existing insurance cover until your application for insurance has been reviewed, assessed and
accepted by the insurer. Please retain rollover authorities until the application has been assessed by the insurer. Rollover authorities
attached to this application will be forwarded to the relevant institutions.
Is a Non-lapsing death benefit nomination being made in section 11 and/or 15?
You should complete the Non-lapsing death benefit nomination form on pages 33 and 34 (or specify the account with an existing
nomination you wish to apply).
Please ensure no alterations/corrections have been made, that it is signed and witnessed all on the same day and that you have not
also signed as a witness. You must provide us with an original of this form or retain the original if submitting this form to Macquarie
via electronic means and provide to Macquarie upon request.
Are you applying under power of attorney?
If you are signing under power of attorney, please:
supply an original certified copy of the power of attorney
if not done so already, supply identification of the attorney by either:
your adviser completing the FSC/FPA Identification form – for Individuals & Sole Traders (on page 17) and verifying the
identification documents specified there or
the attorney completing Individual Identity Verification form, available at macquarie.com.au/idforms, and either
presenting supporting identification documentation as outlined on the form to an Australia Post office or Macquarie office,
where the form can be completed and supporting identification documentation verified, or
including certified copies (Authorised certifiers are outlined on the relevant form) of the supporting identification
documentation with the completed forms you send to us, and
ensure documentation includes any other names the attorney is known by, their occupation and residential address.
Have you made any amendments to the application?
These amendments must be signed in full by you.
Please do not use correction fluid.
Do you have an existing superannuation account in Super Manager, Super Manager II, Super Consolidator or
Super Consolidator II?
If yes, you cannot apply to open a Super Manager II account in addition to your existing Macquarie superannuation account. You
are required to add any rollovers or contributions into your existing superannuation account.
Please note also that we may not be able to process your application until you have completed, and we have received, all relevant
applicationrequirements including all original documents (where required).
Please email your completed application and all accompanying documents to
wrapsolutions@macquarie.com or send them to Macquarie Wrap GPOBox 4045
Sydney NSW 2001.
If you have any further questions about completing this applicationplease contact your adviser.
3 of 35
Do not use this form unless it is attached to or accompanying the PDS dated 23 November 2019. 11/19
• Refer to the checklist on pages 1 and 2 of this application booklet for help with how to complete this application.
• Please use black ink and print in CAPITAL LETTERS. Mark boxes with an (X) where applicable.
Superannuation applicants u complete 1 to 13, then 18
Pension applicants u complete 1 to 9, then 14 to 18 including all original documents (where required)
Super and Pension Manager II
Application form
Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237 492 RSEL L0001281.
Macquarie Superannuation Plan ABN 65 508 799 106 RSE R1004496.
Identification required (mandatory)
Accounts being established for a minor require the parent or guardian, rather than the child, to supply identification where
required. Additional documents may be required in some circumstances. We reserve the right to vary these requirements.
Did you hold an existing Macquarie account on 12 December 2007 which is still open?
Yes u continue to section 2
No, you are required, under the AML/CTF Act 2006, to supply identification by either:
having your adviser complete the FSC/FPA Identification form – for Individuals & Sole Traders (on page 17) and verify the
identification documents specified there, or
• sending us a completed Individual Identity Verification form, available at macquarie.com.au/idforms, and either
presenting supporting identification documentation as outlined on the form to an Australia Post office or Macquarie office,
where the form can be completed and supporting identification documentation verified, or
including certified copies (Authorised certifiers are outlined on the relevant form) of the supporting identification
documentation with the completed forms you send to us.
u continue to section 2
1
Financial adviser use only
You must be a registered financial adviser to use this service.
Please note: we cannot process this application if the dealer code and adviser code are incomplete.
Dealer name:
Dealer code:
Adviser name:
Adviser code:
For more information regarding this application form please contact my assistant/support staff
Assistant/support name:
Contact number: Email:
A
macquarie.com.au
Super and Pension Manager II Application form
4 of 35
Address and contact details (mandatory)
4
Residential address – failure to provide may delay or prevent account opening (cannot be a PO Box or care of a third party)
Street name and number:
Suburb:
State:
Postcode:
Country:
Postal address (if different from your residential address)
Street name and number or PO Box:
Suburb:
State:
Postcode:
Country:
Contact details
Work phone number:
Home phone number:
Mobile phone number*:
Email address*:
Temporary resident clients
Please cross this box only if you are or have been the holder of a temporary resident visa (other than a ‘retirement’ or ‘investor
retirement’ visa) and are not an Australian citizen or permanent resident, or a New Zealand citizen. From 1 April 2009, the
conditions of release under which you can access your benefits may be restricted. Please refer to your adviser or us for further
information on temporary residents’ conditions of release.
2
Title: Full given name(s):
Surname:
Gender:
Male
Female
Any other name known by:
Date of birth:
/ /
Occupation:
Personal details (mandatory)
3
Tax file number
If you do not provide your TFN, we are unable to accept contributions made by you or someone on your behalf (other than
your employer). For superannuation accounts being established for a minor, the minor’s TFN must be quoted in order for us
to accept contributions for them.
Tax file number (TFN) or TFN exemption reason:
Please note an exemption reason is not sufficient, in place of a TFN, for us to accept member contributions.
* These fields are mandatory for security purposes.
Super and Pension Manager II Application form
5 of 35
5
Contact details – child superannuation accounts
If the superannuation account is being established for a minor, details of the child’s parent/guardian or legal personal
representative must be completed in this section. This person must sign this application.
Details of parent or guardian
Title: Full given name(s):
Surname:
Any other name known by:
Gender:
Male
Female
Date of birth:
/ /
Occupation:
Contact details
Work phone number:
Home phone number:
Mobile phone number*:
Email address*:
Statements and annual report
7
• We will make available a detailed statement on the value of your account, and any transactions that have taken place as at
30 June (annual statement). We will also prepare a half yearly statement as at 31 December available on Macquarie Online at
macquarie.com.au/personal
• We also prepare an annual report about the management, financial performance and position of the Fund for each financial
year. This is available free of charge from us, at macquarie.com.au/yourwrap or you can receive a hard copy annual report by
contacting us on 1800 025 063.
6
Online access
Do you have an existing Macquarie ID?
No Yes, please specify your Macquarie ID:
If no, we will provide you with a Macquarie ID and online access to your account through Macquarie Online. If you do not check
a box, a new Macquarie ID will be issued to you.
8
Broker election
Your adviser will be able to buy and sell Australian listed securities via the Wrap website using a nominated broker.
Please refer to the “Authorised broker list”, available from your adviser, for the broker code(s).
If you wish to include additional nominated brokers to trade on your account, please list the institution(s) here.
Broker name:
Broker code:
Broker name: Broker code:
Broker name: Broker code:
* These fields are mandatory for security purposes.
Super and Pension Manager II Application form
6 of 35
12
Beneficiary nomination
11
Have you included a Non-lapsing death benefit nomination with your application?
Yes u go to section 12
No. If you have an existing valid Non-Lapsing nomination on another Macquarie
Superannuation account which you wish to apply to this new account. Please supply
the existing account number
Please note: if you enter an existing account number here the existing account must have a valid Non-Lapsing Nomination (not a
reversionary pension nomination).
Contribution/rollover details (Super Manager II only)
A. Contribution details
Personal contribution: $
DEDUCTION NOTICE (OPTIONAL)
Only complete if you intend to claim a tax deduction for all/part of the above contribution. This will be taken to be a
deduction notice in the ATO approved form and cannot be revoked or withdrawn. Please speak to your adviser for
further information.
For contribution(s) made in the financial year ending: 30 June 20
Amount of personal contribution(s) covered by this Deduction
Notice that I intend to claim as a tax deduction:
$
If you do not make a selection we will assume you do not wish to lodge a deduction notice.
9
Bank account details for withdrawals and/or pension payments
For superannuation accounts, the below details will be the default account details for the payment of withdrawal requests.
For pension accounts, pension payments will be made to this account on or around the 15th day of the month.
Australian financial institution name:
BSB:
Account number:
Account name:
Any amendments to this section must be signed in full by the applicant. This section must be completed for pension accounts.
Superannuation applicants u continue to 10
Pension applicants u go to 14
10
Do you wish to use the direct credit facility?
No u go to section 11
Yes, please select the contribution type (one only):
Personal contributions* Spouse contributions Child contributions (available for applicants under 18 years).
* If you wish to claim a tax deduction for your contribution, we require you to send us a completed Deduction notice for personal contributions available from your
adviser or the NAT 71121 form, available from the Australian Taxation Office website. For more information on your eligibility to claim a deduction, please refer to
the Opening and adding to your account section of the PDS.
Super and Pension Manager II Application form
7 of 35
Employer superannuation
guarantee (SG) contribution: $ Employer other contribution: $
Employer salary sacrifice contribution: $ Spouse contribution: $
Other contribution: $
Please specify the other contribution type and attach appropriate documentation:
Please cross here if any of these contributions include an in-specie transfer of assets.
Please ensure: cheques are payable to: MIML Super Manager II (full account name)
• your TFN has been provided in section 3, otherwise we will only accept employer contributions
non-concessional contributions do not exceed the non-concessional contribution cap, otherwise excess
contribution tax rates may apply (refer to the Taxation section of the Technical Information Booklet (TIB),
available at macquarie.com.au/supertech for more information).
B. A rollover from another fund
Name of institution Account/policy number Cash rollover In-specie rollover
$ $
$ $
$ $
Please cross here if any of these rollovers include an in-specie transfer of assets.
Please ensure: • cheques are payable to: MIML Super Manager II (full account name)
a Rollover authority is sent to the paying institution (if applicable)
• rollovers are accompanied by a Rollover Benefit Statement, provided by the other fund
a separate withdrawal form is submitted for rollovers from a self managed super fund with a Macquarie
Cash Management Account or Macquarie Investment account.
C. Rollover from another account within the fund
If you are rolling over from another account within the Fund, please complete the details here. Please note that this
constitutes a request to roll over benefits from your existing account.
Note: If you have an existing Super Manager, Super Manager II, Super Consolidator or Super Consolidator II, you cannot
apply to open a Super Manager II account in addition to your existing Macquarie superannuation account. Youare required
to add any rollovers or contributions into your existing Macquarie superannuation account, or close your existing account at
the same time this account is opened.
Existing account details
Account name:
Account number:
Amount to be transferred
Entire balance (your account will be closed)
Partial amount by (select one only)
transferring $
from the above account, or
leaving $
in the above account and transferring the rest.
Specify the assets to be transferred out of or remain in the account (depending on your election) or attach a list:
Where no list of assets is provided, we will transfer out of the account’s cash hub/account.
We will draw the tax components proportionally from the components held in your account.
Please specify which preservation component to transfer over (or the order of preservation components you wish to
transfer over):
Importantly, you must leave the required minimum balance in the account (refer to the applicable Macquarie PDS for
minimum cashbalances).
Contribution/rollover details (Super Manager II only) (continued)
Super and Pension Manager II Application form
8 of 35
13
Adviser service fee details (Super Manager II only)
Please note: Macquarie will apply GST net of the effect of any reduced input tax credit to the base fee rate set by
your adviser By completing this section, you authorise the payment to your adviser.
Adviser service fee details
Initial advice fee (ex-GST) (specific dollar amount only):
$
Adviser service fee: The adviser service fee is an annual fee,
calculated on your daily account valuation and deducted monthly.
Choose one of the following:
(a) or (b) or (c) OR (a) and (c) OR (b) and (c)
On all
investments
(ex-GST) % pa
OR on managed
investments (including
SMAs) and term deposits
(ex-GST) % pa…
… and
Australianlisted
securities
(ex-GST) % pa
(a) Tiered fee (ex-GST) (percentage of your account balance)
Account balance from Account balance to
$0.00
$
$ $
$ $
$ $
$
$ 999,999,999.99
(b) Flat fee (ex-GST) (percentage of your account balance)
(c)
Flat fee structure – dollar fee per annum (ex-GST)
$
Ongoing adviser service fees annual indexation (this will only apply to flat fee structure – dollar fee per annum)
Consumer Price Index (CPI)
OR Flat percentage
%
Adviser transaction fees (online purchases only) $
per transaction OR
% of the transaction value (ex-GST)
Any amendments to this section must be signed in full by the applicant.
Super and Pension Manager II Application form
9 of 35
14
Pension details
A. What pension type are you applying for?
A transition to retirement pension. I have reached my preservation age but have not permanently retired from
theworkforce.
1
A standard (account based) pension:
I declare I have met one of the conditions of release that allows me full
access to my superannuation or Iam rolling over an unrestricted non-preserved amount only.
1
Whererequired,
please supply the relevant documentation to verify you have met a condition of release.
1
Death benefit pension. Only select this option if you are rolling over an existing death benefit from another fund.
Note, you cannot combine your existing benefits with a death benefit rollover.
2
You must nominate one of the above pension types before we can process your application.
B. Pension payment details
Please nominate your annual pension amount:
Minimum
Maximum (transition to retirement pensions only). This amount will not be prorated (ie the maximum will be paid over
the remaining period in the financial year)
A specific annual amount of $
over an entire (12 month) financial year
On 1 July, increase my annual pension payments by:
Nil
The inflation rate (CPI)
A specific percentage amount
%
Payment frequency:
Monthly
Quarterly
Half-yearly
Yearly
First payment month:
If you do not complete any payment details we will assume that you wish to receive the minimum annual pension
amount paid monthly beginning the next available payment with an annual increase of “Nil”.
C. Death benefit pension details
Please complete the following for death benetpensions.
Name of deceased:
Date of birth:
/ /
Date of death:
/ /
Tax file number of deceased:
1
For more information, refer to the Preservation rules section of the TIB, available at macquarie.com.au/supertech
2
For more information, refer to the Taxation section of the TIB, available at macquarie.com.au/supertech
Superannuation applicants u go to section 18
Pension applicants u complete 14 to 18
Super and Pension Manager II Application form
10 of 35
Beneficiary nomination
15
You should update your nomination when commencing a pension. Please note we cannot accept a nomination made by an
attorney or any other agent.
PLEASE COMPLETE EITHER (A) OR (B) BUT NOT BOTH
A. Reversionary pension option
You may make this nomination only when the pension is commenced and there are some circumstances in which a reversionary
pension nomination cannot be revoked. Please speak to your adviser for further information on reversionary nominations.
Title:
Full given name(s):
Surname:
Date of birth:
/ /
Gender:
Male
Female
Street name and number or PO Box:
Suburb:
State:
Postcode:
Country:
Relationship to you:
Spouse
Qualifying child
1
Interdependent person (who is not a child)
Financially dependent person (who is not a child).
B. Non-lapsing death benefit nomination
You may make this nomination at any time and you may change it at any time.
Have you included a non-lapsing death benefit nomination with your application?
Yes u go to section 16
No. If you have an existing valid Non-Lapsing Nomination on another Macquarie Superannuation account which you
wish to apply to this new account, please supply the existing account number:
Please note: if you enter an existing account number here the existing account must have a valid Non-Lapsing
Nomination (not a reversionary pension nomination).
1
A qualifying child is a child who (at the time of the member’s death) is:
less than age 18, or
aged 18 to 24 inclusive and is financially dependent on the member, or
aged 18 or more and has a qualifying disability (broadly, this is a disability that is permanent or likely to be permanent and results in the need for ongoing
support and a substantially reduced capacity for communication, learning or mobility).
Super and Pension Manager II Application form
11 of 35
Contribution/rollover details (Pension Manager II only)
16
Please note that you must include details of all contributions and rollovers with which you wish to commence this
pension. Any amounts not included below CANNOT be accepted into this pension account. Where an in specie
transfer of assets is used to commence a pension, the assets are not received into the pension account until the
day after they are transferred. Therefore, the value of these assets when the pension commences will generally be
different to the transfer value due to market movements. This should be factored in when commencing a pension to
avoid exceeding the transfer balance cap.
If there is insufficient space below, please include a separate attachment with the details of additional contributions or
rollovers with your application.
A. Contribution details
Personal contribution: $
DEDUCTION NOTICE (OPTIONAL) – You must complete this section if you intend to claim a tax deduction
for all/part of the above contribution. This will be taken to be a deduction notice in the ATO approved form
and cannot be revoked or withdrawn. Please speak to your adviser for further information.
For contribution(s) made in the financial year ending: 30 June 20
Amount of personal contribution(s) covered by this
DeductionNotice that I intend to claim as a tax deduction:
$
If you do not make a selection we will assume you do not wish to lodge a deduction notice.
Employer superannuation guarantee (SG) contribution: $
Employer other contribution: $
Employer salary sacrifice contribution: $
Spouse contribution: $
Other contribution: $
Please specify the other contribution type and attach appropriate documentation:
Please cross here if any of these contributions include an in-specie transfer of assets.
Please ensure:
• cheques are payable to: MIML Pension Manager II (full account name)
• your TFN has been provided in section 3, otherwise we will only accept employer contributions.
Please note that contributions cannot be made directly to a pension account. We will open a Super Manager II account
to process the contribution and transfer the balance to a Pension Manager II account when the pension is ready to
commence (eg after debiting any contributions tax).
B. A rollover from another fund
Name of institution Account/policy number Cash rollover In-specie rollover
Death benefit
rollover
$ $
$ $
$ $
Please cross here if any of these rollovers include an in-specie transfer of assets.
Please ensure:
• cheques are payable to: MIML Pension Manager II (full account name)
a Rollover authority is sent to the paying institution (if applicable)
• rollovers are accompanied by a Rollover Benefit Statement, provided by the other fund
a separate withdrawal form is submitted for rollovers from a self managed super fund with a Macquarie Cash Management
Account or Macquarie Investment account.
Super and Pension Manager II Application form
12 of 35
C. Rollover from another account within the fund
If you are rolling over from another account within the Fund, please complete the details here. Please note that this
constitutes a request to roll over benefits from your existing account.
Existing account details
Account name:
Account number:
Amount to be transferred
Entire balance (your account will be closed). If that account holds insurance:
Transfer it to a standalone policy (attach the insurance application)
Cancel my insurance
There is no insurance on the account
Partial amount by (select one only)
transferring $
from the above account, or
leaving $
in the above account and transferring the rest.
Specify the assets to be transferred out of or remain in the account (depending on your election) or attach a list:
Where no list of assets is provided, we will transfer out of the account’s cash hub/account.
Importantly, you must leave the required minimum balance in the account (refer to the applicable Macquarie PDS for
minimum balances).
Lodging/varying a deduction notice (optional)
Personal contribution $
Only complete if you intend to claim a tax deduction for all/part of the above contribution. This will be taken to be
a deduction notice in the ATO approved form and cannot be varied once the pension has commenced based in
whole or part on this contribution. Please speak to your adviser for further information.
For contribution(s) made in the financial year ending: 30 June 20
Amount of personal contribution(s) covered by this
DeductionNotice that I intend to claim as a tax deduction:
$
If you do not make a selection we will assume you do not wish to lodge or vary a deduction notice.
Contribution/rollover details (Pension Manager II only) (continued)
Super and Pension Manager II Application form
13 of 35
Adviser service fee details (Pension Manager II only)
Please note: Macquarie will apply GST net of the effect of any reduced input tax credit to the base fee rate set by
your adviser. By completing this section, you authorise the payment to your adviser of the amounts set out below.
Adviser service fee details
Initial advice fee (ex-GST) (specific dollar amount only):
$
Adviser service fee: The adviser service fee is an annual fee,
calculated daily on your account valuation and deducted monthly.
Choose one of the following:
(a) or (b) or (c) OR (a) and (c) OR (b) and (c)
On all
investments
(ex-GST) % pa
OR on managed
investments (including
SMAs) and term deposits
(ex-GST) % pa…
… and
Australianlisted
securities
(ex-GST) % pa
(a) Tiered fee (ex-GST) (percentage of your account balance)
Account balance from Account balance to
$0.00
$
$ $
$ $
$ $
$
$ 999,999,999.99
(b) Flat fee (ex-GST) (percentage of your account balance)
(c)
Flat fee structure – dollar fee per annum (ex-GST)
$
Ongoing adviser fees annual indexation (this will only apply to flat fee structure – dollar fee per annum)
Consumer Price Index (CPI)
OR Flat percentage
%
Adviser transaction fees (online purchases only) $
per transaction OR
% of the transaction value (ex-GST)
Any amendments to this section must be signed in full by the applicant.
17
Super and Pension Manager II Application form
14 of 35
18
Declaration and signature
Before you sign this application, Macquarie Investment
Management Limited (the Trustee), or your adviser, is
obliged to give you the current Macquarie Super and
Pension ManagerII(Super and Pension Manager II) Product
Disclosure Statement (PDS) dated 23 November 2019.
This document should be read in conjunction with the
Macquarie Superannuation Technical Information Booklet
(TIB) (available from macquarie.com.au/supertech) and
Superannuation Investment Menu (available at macquarie.
com.au/supermenu) which together form the PDS, and any
supplementary PDSs before applying for a Super and Pension
Manager II account. The PDS will help you to understand the
product and decide if it is appropriate for your needs. You
must also consider each PDS and other disclosure documents
for an investment option prior to placing your investment and
any insurance PDS when applying for insurance through your
account. This application form must not be used unless it was
attached to or accompanying the PDS. The PDS is issued
by Macquarie Investment Management Limited (MIML, the
Trustee) ABN 66 002 867 003 AFSL 237492 RSELL0001281.
Please note the Trustee has complete discretion whether or
not to accept your application.
By signing below:
You confirm:
a) that this application was signed in Australia
b) that you have personally received the PDS before or
at the same time as you received the application form.
You have read and understood the current PDS and any
supplementary PDSs
c) that you understand that the PDS has been prepared
without taking into account your objectives, financial situation
or needs and you should consider the appropriateness of
the information in the PDS before acting on the information
d) that you have appointed an adviser and received advice
from them in relation to your application
e) that you consent to the Trustee supplying information about
your portfolio to the adviser named in this application, the
adviser’s licensee and any authorised staff of the licensee
f) that all information provided by you and your adviser in
connection with this application is complete, true and
correct and you understand that the Trustee is relying on
the information in connection with carrying out its various
duties and functions
g) that you have read and understood and consent to the
conditions of the tax file number collection, personal
information consents and the telephone recording policy in
the PDS
h) that you will provide the Trustee with all necessary
information under the Anti-Money Laundering and
Counter-Terrorism Financing Act 2006 (Cth) rules and
other subordinate instruments
i) that you are eligible to be a member of Super and
PensionManager II
j) if submitting contributions, that you are eligible to
contribute based on the eligibility criteria outlined in
the Contributing intosuperannuation section of the TIB
(available at macquarie.com.au/supertech), or advice
received from your adviser
k) that any additional action that requires something to be
done by you (eg arranging for rollover amounts to be paid to
the Trustee), you will complete the required action as soon
as possible or as otherwise agreed with the Trustee
l) that you have read and understood the Privacy Statement
contained within the PDS and consent to the collection,
use and disclosure of your personal information in
accordance with the Privacy Statement (as amended or
replaced from time to time), and
m) that if you have selected to open a death benefit pension,
you are rolling over a death benefit and you are eligible to
receive a death benefit income stream. You acknowledge
you cannot combine these benefits with any of your
existing member benefits.
You agree:
a) to be bound by the terms and conditions disclosed in
the Super and Pension Manager II PDS, any document
incorporated into the PDS by reference and any
supplementary PDS
b) to be bound by the trust deed and rules of the Macquarie
Superannuation Plan
c) that the Trustee can notify you of a change to the Investment
Menu by updating the Superannuation Investment Menu
available at macquarie.com.au/supermenu, and
d) that if you take out insurance through your Super account,
we are required to cancel your insurance on and after
1April2020 if you have an account balance which is less
than $6,000 and on or after 1 November 2019 you have
not had an account balance equal to or greater than $6,000
and you have not elected to maintain insurance even if your
account balance is less than $6,000. You acknowledge
that you can maintain your insurance even if your account
balance is less than $6,000 by making this election as part
of your insurance application with the insurer.
You acknowledge:
a) and confirm that you have received, read and understood
the offer documents for each of the investments and
insurance you have selected and understand that you may
not have the most up-to-date information and you may
not be aware of all material changes about an investment
when you make additional investments
b) that if you have selected an illiquid investment or where
you have selected an investment which becomes illiquid,
you understand that the nature of such an investment
may mean that should you, at a future time, request that
the illiquid part or all of your portfolio be rolled over or
transferred, your request may not be able to be processed
within the standard 30 day period
c) that any rollover requests detailed in your application
will be initiated when your application is submitted and
that you are solely responsible in relation to your other
superannuation fund for the payment of any fees and costs
on exit, withdrawal fees or other charges and notifying
your employer of any changes to the superannuation fund
where employer contributions are to be paid
d) that when a rollover request is effected, your existing
insurance arrangements may cease and you may not
get the same type of insurance cover through Super and
Pension Manager II
e) that if you do not provide the Trustee with information as
requested, or there is a delay in providing the Trustee with
this information, you understand that the Trustee may not be
able to open your account. You understand the Trustee is not
liable for any loss incurred by you as a result of any action of
the Trustee which either delays the account being opened or
results in this application being declined, when these actions
are necessary for the Trustee to process your application
Super and Pension Manager II Application form
15 of 35
Declaration and signature (continued)
f) that your interest in any holdings in the Wrap Cash Hub
and any term deposits will not be directly protected by the
Federal Government’s Financial Claims Scheme (FCS).
You understand you may have a pro-rata entitlement to
the Fund’s aggregate cap amount of $250,000 per deposit
account per authorised deposit-taking institution and that
this entitlement ranks in proportion with all other members’
Wrap Cash Hub and term deposit holdings
g) that investments in Super and Pension Manager II,
other than any holdings in the Wrap Cash Hub and term
deposits with Macquarie Bank Limited, are not deposits
with or other liabilities of Macquarie Bank Limited (MBL)
ABN46008583 542 or of any Macquarie Group company,
and are subject to investment risk, including possible
delays in repayment and loss of income or principal
invested. You further acknowledge that none of MBL,
Macquarie Investment Management Limited, nor any other
investment managers referred to in this PDS, nor any other
member company of the Macquarie Group guarantees
the performance of Super and Pension Manager II or the
repayment of capital from Super and Pension Manager II or
any particular rate of return of the investments purchased
through Super and Pension Manager II
h) that you can change your marketing preferences by
telephoning us on 1800 025 063 or visiting
macquarie.com/optout-bfs
i) that your existing fund may charge fees or costs on
exiting; please check with them
j) that moving funds may have taxation, investment and
insurance implications; we recommend you consult with
your adviser, and
k) that you may apply for further products from Macquarie in the
future and the information provided by you in this application
form, or to your financial adviser, to enable the Macquarie
group to comply with its obligations under the US Foreign
Account Tax Compliance Act (FATCA) and the Common
Reporting Standards (CRS) under the Taxation Administration
Act 1953 (Cth), their supporting regulations and any related
laws or official guidance designed to implement those laws
in Australia is correct and where relevant reflects your tax
status. You agree that you will promptly notify and provide
Macquarie with any changes to the information provided by
you in connection with FATCA and CRS and on request with
any further information which is necessary or desirable for
Macquarie to comply with any obligations it may have.
You authorise:
a) your adviser and other people working in or for their
organisation (Associates) to provide additional information
required to open your account that has not been included
on this form
b) your adviser and their Associates to receive and access your
personal information (Data) for the purpose of managing your
investment and conducting such transactions you authorise.
You acknowledge that you need to inform the Trustee of any
change in relation to this authority or your adviser
c) the Trustee to follow up any outstanding issues with your
rollover institutions
d) payments to your financial adviser and/or adviser’s dealer
group as set out in this application form. You confirm
that these fees relate solely to services relating to the
provision of superannuation benefits to you and is not part
of an early release scheme. You authorise the Trustee to
deduct such fees from your Wrap Cash Hub on the terms
set out in the PDS. You acknowledge that where your
adviser and/or dealer group changes or is removed, such
payments may change or cease as stated in the PDS,
e) the Trustee to update your personal details (including
contact details), where a Government agency notifies us that
the details we have on record for you are incorrect, and
f) sharing of your Data with third party service providers used
by you or your adviser and their Associates as described
in the PDS.
You consent to the Trustee communicating with you
electronically by using any email address or mobile telephone
number nominated by you or by making the communication
or other information available to you using the Macquarie
Online accessible from online.macquarie.com.au or any other
website, app or online portal used for Macquarie Wrap in the
future at a location notified to you or in any other way agreed
with you. Any email address or mobile telephone number
provided to the Trustee for these purposes should be an email
address or mobile telephone number which you access regularly
and you agree to notify the Trustee promptly if you change this
email address or mobile telephone number. You acknowledge
that it is your responsibility to regularly check your nominated
email address and mobile phone or Macquarie Online
accessible from online.macquarie.com.au to access reporting
and ongoing disclosure in relation to your account.
For investors claiming a tax deduction for
personalcontributions
You understand the restrictions on lodging or varying your
deduction notice as outlined in the Opening and adding to
your account section in the PDS:
if you have completed the deduction notice sections in the
application form, youconfirm:
you are lodging the notice(s) before both of the following
dates: the day that you lodged your income tax return for
the year(s) in which the personal contributions covered
by this notice were made and the end of the income year
after the year(s) in which the contribution was made,
at the time of completing the notice(s): you intend to
claim the personal contributions stated in the deduction
notice as a tax deduction in the year(s) stated; you have
not included these contributions in an earlier valid notice;
and the Fund still holds these contributions, and
you understand that you cannot vary this notice after a
pension has commenced
if you have completed the deduction notice section after
having already lodged a notice with the Fund for these
contributions and wish to reduce the amount stated in that
notice, you confirm:
you intend to claim the personal contributions stated in
the deduction notice section as a tax deduction, and
you wish to vary your previous notice for these
contributions by reducing the amount you advised in
your previous notice. You confirm that either: you have
not yet lodged your income tax return for the year stated
for the contribution and this variation notice is being
lodged on or before 30 June of the following financial
year; or, the Australian Tax Office has disallowed your
claim for a deduction for the relevant year(s) and this
notice reduces the amount stated in your previous notice
by the amount that has been disallowed.
Super and Pension Manager II Application form
16 of 35
If you have not done so already, review the checklist on page 1 and 2 to ensure there are no
delays in opening your account. If you have any further questions about completing this application
please contact your adviser.
Please email your completed application and all accompanying documents to
wrapsolutions@macquarie.com or send them to MacquarieWrap GPO Box 4045 Sydney
NSW 2001 (please affix a stamp).
For investors signing under power of attorney
If you are signing under power of attorney, you confirm that you have no notice of the revocation of the power of attorney.
For investors who are or have been outside of Australia
The Trustee does not intend this financial product to be marketed directly or indirectly to applicants outside of Australia.
Youacknowledge that neither the Trustee nor your financial adviser has marketed or promoted this financial product outside of
Australia to you.
For child contributions
The application is to be signed by the child’s parent or guardian, who acknowledges and declares as follows:
you accept all responsibility for the decision to make this investment on your child’s/ward’s behalf, and
you will not hold the Trustee responsible in the event that this investment proves unsuitable for your child/ward.
For investors accessing the PDS online
You have personally received the electronic PDS or a paper printout of the electronic PDS accompanied by or attached to this
application form before or at the same time as you received this application form.
Please note that electronic or digital signatures will not be accepted.
Signature
Date:
/ /
Title:
Full given name(s):
Surname:
Declaration and signature (continued)
Super and Pension Manager II Application form
17 of 35
IDENTIFICATION FORM
INDIVIDUALS & SOLE TRADERS
19 May 2017 version – Refer to FSC/FPA GUIDANCE - MANAGING AML/CTF AND FATCA/CRS CUSTOMER IDENTIFICATION OBLIGATIONS for conditions of use
Copyright © May 2017 Financial Services Council Limited and Financial Planning Association of Australia Limited
1/2
GUIDE TO COMPLETING THIS FORM
o Complete one form for each individual. Complete all applicable sections of this form in BLOCK LETTERS.
o Tax information must be collected from the individual
o Contact your licensee if you have any queries.
SECTION 1: PERSONAL DETAILS
Surname
Date of Birth
dd/mm/yyyy
Full Given Name(s)
Residential Address (PO Box is NOT acceptable)
Street
Suburb
State Postcode Country
COMPLETE THIS PART IF INDIVIDUAL IS A SOLE TRADER
Full Business Name (if any) ABN (if any)
Principal Place of Business (if any) (PO Box is NOT acceptable)
Street
Suburb
State Postcode Country
SECTION 2: TAX INFORMATION
Tax Residency rules differ by country. Whether an individual is tax resident of a particular country is often (but not always) based on the amount of time a person
spends in a country, the location of a person’s residence or place of work. For the US, tax residency can be as a result of citizenship or residency.
Please answer both
tax residency questions:
Is the individual a tax resident of Australia? Yes No
Is the individual a tax resident of another Country? Yes No
If the individual is a tax resident of a country other than Australia, please provide their tax identification number (TIN) or equivalent below. If
they are a tax resident of more than one other country, please list all relevant countries below.
A TIN is the number assigned by each country for the purposes of administering tax laws. This is the equivalent of a Tax File Number in Australia or a Social
Security Number in the US. If a TIN is not provided, please list one of the three reasons specified (A, B or C) for not providing a TIN.
1. Country TIN If no TIN, list reason A, B or C
2. Country TIN If no TIN, list reason A, B or C
3. Country TIN If no TIN, list reason A, B or C
If there are more countries, provide details on a separate sheet and tick this box.
.
Reason A The country of tax residency does not issue TINs to tax residents
Reason B The individual has not been issued with a TIN
Reason C The country of tax residency does not require the TIN to be disclosed
Super and Pension Manager II Application form
18 of 35
IDENTIFICATION FORM INDIVIDUALS & SOLE TRADERS
19 May 2017 version – Refer to FSC/FPA GUIDANCE - MANAGING AML/CTF AND FATCA/CRS CUSTOMER IDENTIFICATION OBLIGATIONS for conditions of use
Copyright © May 2017 Financial Services Council Limited and Financial Planning Association of Australia Limited
2/2
SECTION 3: VERIFICATION PROCEDURE
Verify the
individual’s
full name; and
EITHER
their date of birth or residential address.
o Complete Part I (or if the individual does not own a document from Part I, then complete either Part II or III.)
o Contact your licensee if the individual is unable to provide the required documents.
PART I – ACCEPTABLE PRIMARY PHOTOGRAPHIC ID DOCUMENTS
Tick
Select ONE valid option from this section only
Australian State / Territory driver’s licence containing a photograph of the person
Australian passport (a passport that has expired within the preceding 2 years is acceptable)
Card issued under a State or Territory for the purpose of proving a person’s age containing a photograph of the person
Foreign passport or similar travel document containing a photograph and the signature of the person*
PART II – ACCEPTABLE SECONDARY ID DOCUMENTS –
should only be completed if the individual does not own a document from Part I
Tick
Select ONE valid option from this section
Australian birth certificate
Australian citizenship certificate
Pension card issued by Department of Human Services (previously known as Centrelink)
Tick
AND ONE valid option from this section
A document issued by the Commonwealth or a State or Territory within the preceding 12 months that records the provision of financial
benefits to the individual and which contains the individual’s name and residential address
A document issued by the Australian Taxation Office within the preceding 12 months that records a debt payable by the individual to the
Commonwealth (or by the Commonwealth to the individual), which contains the individual’s name and residential address. Block out the TFN
before scanning, copying or storing this document.
A document issued by a local government body or utilities provider within the preceding 3 months which records the provision of services to
that address or to that person (the document must contain the individual’s name and residential address)
If under the age of 18, a notice that: was issued to the individual by a school principal within the preceding 3 months; and contains the name
and residential address; and records the period of time that the individual attended that school
PART III – ACCEPTABLE FOREIGN PHOTOGRAPHIC ID DOCUMENTS – should only be completed if the individual does not own a document from Part I
Tick
Select ONE valid option from this section only
Foreign driver's licence that contains a photograph of the person in whose name it issued and the individual’s date of birth*
National ID card issued by a foreign government containing a photograph and a signature of the person in whose name the card was issued*
*Documents that are written in a language that is not English must be accompanied by an English translation prepared by an accredited translator.
IMPORTANT NOTE:
Either attach a legible certified copy of the ID documentation used to verify the individual (and any required translation) OR
Alternatively, if agreed between your licensee and the product issuer, complete the Record of Verification Procedure section below and
DO NOT attach copies of the ID Documents
SECTION 4: RECORD OF VERIFICATION PROCEDURE
ID DOCUMENT DETAILS Document 1 Document 2 (if required)
Verified From
Original Certified Copy Original Certified Copy
Document Issuer
Issue Date
Expiry Date
Document Number
Accredited English Translation
N/A Sighted N/A Sighted
By completing and signing this Record of Verification Procedure I declare that:
an identity verification procedure has been completed in accordance with the AML/CTF Rules, in the capacity of an AFSL holder or their authorised
representative and
the tax information provided is reasonable considering the documentation provided.
AFS Licensee Name AFSL No.
Representative/ Employee Name Phone No.
Signature
Date
Verification
Completed
IDENTIFICATION FORM INDIVIDUALS & SOLE TRADERS
19 May 2017 version – Refer to FSC/FPA GUIDANCE - MANAGING AML/CTF AND FATCA/CRS CUSTOMER IDENTIFICATION OBLIGATIONS for conditions of use
Copyright © May 2017 Financial Services Council Limited and Financial Planning Association of Australia Limited
2/2
SECTION 3: VERIFICATION PROCEDURE
Verify the
individual’s
full name; and
EITHER
their date of birth or residential address.
o Complete Part I (or if the individual does not own a document from Part I, then complete either Part II or III.)
o Contact your licensee if the individual is unable to provide the required documents.
PART I – ACCEPTABLE PRIMARY PHOTOGRAPHIC ID DOCUMENTS
Tick
Select ONE valid option from this section only
Australian State / Territory driver’s licence containing a photograph of the person
Australian passport (a passport that has expired within the preceding 2 years is acceptable)
Card issued under a State or Territory for the purpose of proving a person’s age containing a photograph of the person
Foreign passport or similar travel document containing a photograph and the signature of the person*
PART II – ACCEPTABLE SECONDARY ID DOCUMENTS –
should only be completed if the individual does not own a document from Part I
Tick
Select ONE valid option from this section
Australian birth certificate
Australian citizenship certificate
Pension card issued by Department of Human Services (previously known as Centrelink)
Tick
AND ONE valid option from this section
A document issued by the Commonwealth or a State or Territory within the preceding 12 months that records the provision of financial
benefits to the individual and which contains the individual’s name and residential address
A document issued by the Australian Taxation Office within the preceding 12 months that records a debt payable by the individual to the
Commonwealth (or by the Commonwealth to the individual), which contains the individual’s name and residential address. Block out the TFN
before scanning, copying or storing this document.
A document issued by a local government body or utilities provider within the preceding 3 months which records the provision of services to
that address or to that person (the document must contain the individual’s name and residential address)
If under the age of 18, a notice that: was issued to the individual by a school principal within the preceding 3 months; and contains the name
and residential address; and records the period of time that the individual attended that school
PART III – ACCEPTABLE FOREIGN PHOTOGRAPHIC ID DOCUMENTS – should only be completed if the individual does not own a document from Part I
Tick
Select ONE valid option from this section only
Foreign driver's licence that contains a photograph of the person in whose name it issued and the individual’s date of birth*
National ID card issued by a foreign government containing a photograph and a signature of the person in whose name the card was issued*
*Documents that are written in a language that is not English must be accompanied by an English translation prepared by an accredited translator.
IMPORTANT NOTE:
Either attach a legible certified copy of the ID documentation used to verify the individual (and any required translation) OR
Alternatively, if agreed between your licensee
and the product issuer, complete the Record of Verification Procedure section below and
DO NOT attach copies of the ID Documents
SECTION 4: RECORD OF VERIFICATION PROCEDURE
ID DOCUMENT DETAILS Document 1 Document 2 (if required)
Verified From
Original Certified Copy Original Certified Copy
Document Issuer
Issue Date
Expiry Date
Document Number
Accredited English Translation
N/A Sighted N/A Sighted
By completing and signing this Record of Verification
Procedure I declare that:
an identity verification procedure has been completed in accordance with the AML/CTF Rules, in the capacity of an AFSL holder or their authorised
representative and
the tax information provided is reasonable considering the documentation provided.
AFS Licensee Name AFSL No.
Representative/ Employee Name Phone No.
Signature
Date
Verification
Completed
Macquarie Superannuation
Direct debit request
Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237 492 RSEL L0001281.
Macquarie Superannuation Plan ABN 65 508 799 106 RSE R1004496.
Personal details
1
2
Full given name(s):
Surname:
Account number (if known):
Direct debit details
A. Type of request
New plan
Amendment to an existing plan
Cancel an existing plan
B. Frequency (contributions will be deducted on, or close to,
the8thday of each month)
One-off contribution, date to be deducted:
/ /
(if left blank, this will be deducted immediately)
Monthly
Quarterly in March, June, September and December
Half-yearly in June and December
Annually in June
C. Total amount $
Minimum amount: $100
D. Contribution type (please select one only or if this is a
specialcontribution please proceed to Part E)
Personal contribution*
Spouse contribution
Child contribution
We recommend you speak with your adviser to find out if you are
eligible to make the above contribution before submitting this form.
* To claim a tax deduction, we require you to complete a Deduction notice for personal contributions available from macquarie.com.au or the NAT 71121 form,
available from the Australian Tax Office website.
®
Registered to BPAY Pty Ltd ABN 69 079 137 518.
macquarie.com
This form is to authorise us to debit another financial institution and make one-off or regular payments to your Macquarie
Superannuation account.
Important information
This form can be used to set up new, cancel or amend existing direct debit details. One-off contributions can also be made by B
PAY
®
,
Cheque or EFT.
Please note that all employer contributions are required to be made via SuperStream. For more information about SuperStream, please
refer to the Macquarie Super contributions checklist.
E. Special contributions
Only a one-off contribution can be elected for the below
contribution types. This form will be processed once we have
received the applicable ATO form available on the ATO website
at ato.gov.au/forms. The amount on the ATO form provided
must match the amount specified in section 2C of this form.
Downsizer contribution (when selecting this option you
must also provide us with the applicable ATO form NAT
75073 (Downsizer contribution into superannuation form)
before this form can beprocessed)
Small business CGT concession contribution (if selecting
this option you must also provide us with the applicable ATO
form NAT 71161 (Capital gains tax cap election form) before
this form can be processed)
Personal injury contribution (if selecting this option you
must also provide us with the applicable ATO form NAT
71162 (Contributions for personal injury election form)
before this form can be processed)
Direct debit contributions will be deposited to your Cash Account/
Hub on the second business day following the deduction.
1 of 2
Super and Pension Manager II Application form
20 of 35
Declaration and signature
I/We wish to participate in the Wrap Superannuation (which
consists of Macquarie Super Manager, Macquarie Super
Manager II, Macquarie Super Consolidator, Macquarie Super
Consolidator II and Macquarie Super Accumulator) direct debit
and I/we agree to be bound by the service agreement terms
and conditions. I/We request you, until further notice in writing,
to debit the nominated account with any amount which
Macquarie Investment Management Limited ABN 66 002
867 003 AFSL237 492 RSEL L0001281 (User ID 013402)
may debit or charge me/us in connection with my/their
Superannuation direct debit, through BECS (Bulk Electronic
Clearing System).
I/We have completed all relevant sections of this form. I/We
understand and acknowledge that:
1. My/Our nominated financial institution may in its absolute
discretion decide the order of priority of payment by it
of any monies pursuant to this request or any authority
ormandate.
2. The financial institution may, in its absolute discretion,
at any time by notice in writing to me/us, terminate this
request as to future debits.
3. Macquarie may, by prior notice in writing to me/us within
14 days, vary the timing of future debits.
4. Monthly contributions will be deducted on, or close to, the
8th day of each month. Where the 8th day of the month
does not fall on a business day and I am/we are uncertain
whether sufficient cleared money will be available to meet
the direct debit, I/we will contact the financial institution
directly and ensure that sufficient cleared money is available.
5. I/We can modify or defer this direct debit at any time by
giving Macquarie 14 days notice, in writing. I/We need to
do this by the 24th day of the month for the change that I/
we am/are requesting to take effect in the following month.
6. I/We can stop or cancel this direct debit at any time by
giving Macquarie 14 days notice in writing. I/We need to
do this by the 24th day of the month for the cancellation
to take effect in the following month. Alternatively, I/we can
cancel my/our direct debit by taking all of my money out of
Wrap Superannuation.
7. If at any time I/we feel that a direct debit against my
nominated account is inappropriate or wrong it is my/our
responsibility to notify Macquarie as soon as possible.
8. Direct debiting through BECS is not available on all accounts.
I/We can check my account details against a recent
statement or check with the financial institution as to whether
I/we can request a direct debit from my/our account.
9. It is my/our responsibility to ensure that there is sufficient
cleared money in my/our nominated account to honour
the direct debit request (DDR) for my/our direct debit. I/We
4
3
Australian financial institution details
Australian financial institution name:
BSB:
Account number:
Account name:
MWS0299 09/19
Please complete and return the form via email to wrapsolutions@macquarie.com or by post
to Macquarie Wrap, GPO Box 4045, Sydney, NSW 2001. If you have any queries about
completing this form please contact your adviser or us on 1800 025 063.
understand that my/our direct debit will be automatically
cancelled if three direct debit payments are dishonoured
because of insufficient money within a 12 month period.
Macquarie will give me/us 14 days notice in writing if they
intend to cancel my/our plan. Macquarie will also charge
the cost of dishonoured direct debits and any loss in
theprice of the units I/we was/were due to buy against
my/our account.
10. Macquarie may need to pass on details of my/our direct
debit request to their sponsor bank in BECS to assist with
the checking of any incorrect or wrongful debits to my/our
nominatedaccount.
11. Where I have elected a special contribution type in
section2E, I am eligible and within the required
timeframe to make this contribution and funds will be
deducted from my account only when the applicable ATO
form has been provided to Macquarie.
12. Macquarie may not process the request if the amount
on the ATO form does not match the amount specified
in section 2C. If the amounts differ, Macquarie will notify
me/us and may request me/us to submit a new request.
This form must be signed by all account holders for the
account being debited to ensure all parties to the account
being debited provide their authorisation.
Please note that electronic or digital signatures will
not be accepted.
Signature 1:
Date:
/ /
Title:
Name:
Signature 2:
Date:
/ /
Title:
Name:
Macquarie Superannuation Direct debit request
2 of 2
1 of 20
Use this form to roll your superannuation benefits via SuperStream into your Macquarie Wrap Superannuation account.
• Do not cancel any existing insurance cover until your application for insurance has been assessed and accepted by the insurer. If you do not
want your current insurance cover cancelled, do not complete this rollover authority.
Ensure that your existing investment is clearly detailed below for the institution from which you are transferring.
• You do not need to complete this form if you are transferring from another account within the Macquarie Superannuation Plan.
• Rolling over your super benefit to Macquarie may limit your ability to lodge or vary a deduction notice for personal contributions made to the
fund from which you are transferring.
• If you have multiple accounts, please complete a separate form for each account you wish to transfer.
• Please complete, sign and return this request to Macquarie.
Macquarie Wrap Super
Rollover authority
Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237492 RSEL L0001281.
Macquarie Superannuation Plan ABN 65 508 799 106 RSE R1004496.
Rollover details
1
Please contact your existing superannuation provider to confirm if they have any additional requirements before they can
action this rollover authority. Please complete all details and ensure that you provide us with a valid Australian Business
Number (ABN) and Unique Superannuation Identifier (USI). Any missing information may delay processing of your rollover.
To (paying institution):
Street name and number:
Suburb:
State:
Postcode:
Phone number (paying institution):
Account/membership/policy number:
Account/membership/policy name:
ABN: USI:
Is the source of this rollover a complying income stream?
(Term Allocated Pension Manager only)
Yes
No
Does this rollover contain a death benefit?
Yes
No
Note: you cannot combine your existing benefits with a death benefit rollover.
Amount to be transferred:
Entire balance (your account will be closed)
If partial amount, please specify*: $
Macquarie account receiving the transfer: Macquarie Super Manager (USI – 65508799106031)
Macquarie Pension Manager (USI – 65508799106032)
Macquarie Super Manager II (USI – 65508799106185)
Macquarie Pension Manager II (USI – 65508799106186)
Macquarie Super Consolidator (USI – 65508799106172)
Macquarie Pension Consolidator (USI – 65508799106173)
Macquarie Super Consolidator II (USI – 65508799106172)
Macquarie Pension Consolidator II (USI – 65508799106173)
Macquarie Term Allocated Pension Manager (USI – 65508799106088)
Macquarie Super Accumulator (USI – 65508799106041)
macquarie.com
* Any amendments to this section must be signed in full.
1 of 4
Super and Pension Manager II Application form
22 of 35
Personal details
Cheque details
3
Required when an electronic rollover payment is not being made by the paying superannuation fund.
Please forward the cheque for the Transfer, this original completed form and any other relevant documentation to:
Macquarie Super GPO Box 4045 Sydney NSW 2001
The following address Name:
Address:
Cheque should be made payable to: MIML – S&PM/S&PM II/S&PC/S&PC II/SA (client name)
Title:
Full given name(s):
Surname:
Account number:
Gender: Male Female Date of birth:
/ /
Postal address
Street number and name or PO Box:
Suburb:
State:
Postcode:
Residential address (leave blank if the same as your mailing address)
Street name and number:
Suburb:
State:
Postcode:
If your personal details have changed, you may need to contact your existing superannuation provider and update their
records before they action this authority.
2
4
Proof of identity (optional)
Your existing superannuation provider may require
documentation with this transfer request to prove
you are the person to whom the superannuation
entitlements belong. We encourage you to contact your
existing superannuation provider to determine what
documentation is required.
I have attached a certified copy of my driver’s licence
or passport or other documentation required by the
transferring institution.
Certication of personal document requirements
All copied pages of ORIGINAL 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, qualification (eg Justice of the
Peace, Australia Post employee, etc) and date.
The following can certify copies of the originals as true and
correct copies:
a permanent employee of Australia Post with five or more years
of continuous service