Super for real estate professionals
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Product Disclosure
Statement
1 July 2015
Super for
real estate
professionals
CONTENTS
1 About REI Super 6 Fees and costs
2 How super works 7 How super is taxed
3 Benefits of investing with REI Super 8 Insurance in your super
4 Risks of investing in super 9 How to open an REI Super account
5 How we invest your money
INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERS
1. About REI Super
REI Super (‘the Fund’) was established in 1975.
It is the industry superannuation fund (profits
to members) for the property services sector.
The Trustee acts in the best interests of all members and
obtains professional independent advice to assist in achieving
the Fund’s objectives. There are currently eight Trustee
directors who are elected by employee members of the
Fund. The elected directors have appointed an independent
chairman who is a director and also an additional independent
Trustee director.
REI Superannuation Fund Pty Limited acts as trustee (in this
document referred to as the Trustee or simply we) of REI
Super (in this document referred to as the Fund or simply us).
Where we refer in this document to the word our, we may
be referring to either or both the Trustee and the Fund. All
references for these entities required by law can be found
by going to reisuper.com.au/pds.
2. How super works
Superannuation (super) is a tax-effective
retirement savings vehicle.
In simple terms, contributions are the money that is put into
your REI Super account. They can be from your employer,
yourself, your spouse, the Government or by consolidating
your super accounts you have had elsewhere. Most people
have the right to choose which super fund their employer
should direct their superannuation contributions.
Important information Guide (which form part of this information (You should consider
you should be aware of: PDS, but are not contained in it). that information before making a
When you see this icon you will decision about the product).
This PDS contains information about
!
know there is other information
REI Super ’s MySuper product which
you should read or can download This document provides
is the Trustee Super Balanced Option.
the additional information from general information only and
This Product Disclosure Statement is
reisuper.com.au/pds does not take into account your
a summary of significant information
objectives, financial situation or
and contains a number of references This Product Disclosure Statement needs. You should obtain financial
to extra information which you will (PDS) is a summary of significant advice tailored to your personal
find in other documents for example information and contains a circumstances.
the Insurance Guide, the Investment number of references to important
2 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERS
Contributing You can put extra money into super, over and above the
to your super contributions your employer makes. There is generally
REI Super accepts: no minimum contribution amount. However, there
are superannuation law imposed limits on the level of
• Contributions from contributions that are concessionally taxed, and some
employers. These may contributions cannot be accepted until we receive your
be Superannuation
Tax File Number. To find out more go to apra.gov.au,
Guarantee and/or Award
ato.gov.au or moneysmart.gov.au.
contributions and also
additional employer Investments
contributions REI Super offers you a range of investment options to cater
• Contributions from for your own particular preferences about return and risk.
members. You can make
With REI Super, you can choose how your super is invested
contributions to REI Super,
from amongst five investment options. You can choose to
either after-tax or pre-tax
invest in a single option or a mixture of them, depending
(salary sacrifice)
on your investment needs.
• Contributions from
members for their If you do not choose which investment option you would like
spouse. You can make your money invested in, your super will go into the Trustee
contributions for your Super Balanced Option. This is known as our MySuper option.
spouse if they are a low- Accessing the money you put into super
income earner, and split
Because super is for your retirement, the law is strict about
contributions with your
spouse how and when you can access your money. To find out more
go to moneysmart.gov.au.
• Rollovers and transfers of
existing benefits from other
You should read the important information about...
superannuation funds or
rollover vehicles How super works, including making additional
contributions or withdrawals. Go to reisuper.com.au/pds
• Co-contributions from the
and read How super works. The material relating to
Federal Government
how super works may change between the time when
• Super guarantee payments you read this Statement and the day when you acquire
from the Australian the product.
Taxation Office (ATO).
Please note the information is Trustee Super Balanced option, Regulations 2001. This Product
current at 1 July 2015 and is subject which is the Fund’s MySuper Disclosure Statement for REI Super
to change between the time of option. Other important Fund has been prepared and issued on
reading and when you join. Updated information including executive
1 July 2015 by the Trustee of the
and director remuneration and
information is available free of charge Fund, REI Superannuation Fund
additional documents prescribed by
from reisuper.com.au/pds or by Pty Limited (ABN 68 056 044 770),
superannuation law are available on
calling us. the website. Australian Financial Services Licence
For further information about Read this This Product Disclosure No. 240569, SPIN REI0001AU RSE
REI Super, please refer to our Statement is prepared in accordance L0000314. REI Super (ABN 76 641
website reisuper.com.au, including with Subdivision 4.2B of Division 658 449) RSE R1000412. MySuper
our product dashboard for our 4 of Part 7.9 of the Corporations unique number 76641658449129.
reisuper.com.au | 1300 13 44 33 3
3. B
enefits of investing
with REI Super
• Real estate industry specialists that understand you
• Investments to produce long term results for you
• Lower fees and no commissions mean more money
in retirement for you
• Simple, cost effective insurance for you
• The tools and advice to help make the most of your super
• MySuper authorised which means that our default option
has passed rigorous regulatory requirements on fees,
insurance and investments so can continue to be used as
your default super fund.
As a member of REI Super, you will be entitled to receive:
• A
n annual report available on our website or as
a hard copy
• A
statement of benefits showing your details effective
30 June
• Regular updates and communications about your super
• Newsletters
• Opportunities to attend seminars
• Access to licensed financial advisers
• A
nytime, anywhere access to your account via our
website and mobile app
• Access to low-cost banking products from ME Bank.
4 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERS
4. Risks in super
Investment decisions are important and should reflect your
particular circumstances.
All investments carry None of the investment options is capital guaranteed, and
some form of risk, so in their value may rise and fall. When choosing your investment
making a decision, it is option, you may wish to seek professional financial advice as
important to consider the well as considering:
investment, its level of risk • The amount of time your money will be invested before
and diversification and how you retire
it relates to your investment
• The level of investment earnings (return) which you are
goals, other investments
hoping for
you may hold, your
tolerance to that risk, and • The level of risk (volatility) with which you are comfortable.
your proposed investment And also that:
period. Factors that may
• The value of investments will vary
affect your decision include:
• The level of returns will vary, and future returns may differ
• Different strategies may from past ones
carry different levels of risk,
• Superannuation laws may change in the future
depending on the assets
that make up the strategy • The amount of your future superannuation savings
(including contributions and returns) may not be enough
• Assets with the highest
to provide adequately for your retirement
long-term returns may also
carry the highest level of • The level of risk for each person will vary depending on a
short-term risk range of factors including your age, investment time frame,
where other parts of your wealth are invested and your
• Changing economic cycles
tolerance to risk.
• Political events
• Investment market You should read the important information about...
sentiment the risks of investing in super before making a decision.
• Changes in tax and Go to reisuper.com.au/pds and read Risks of super.
legislation The material relating to the risks of investing in super may
• Changes in interest rates change between the time when you read this Statement
and currency and the day when you acquire the product.
• Factors affecting particular
industries, companies
or securities.
reisuper.com.au | 1300 13 44 33 5
5. How we invest your money
REI Super offers you a range of investment
options to cater for your own particular
preferences about return and risk.
You choose where your super is invested
There are five investment options available. Each investment
option has a different level of growth and defensive assets.
They are Super Growth, Trustee Super Balanced (MySuper
and default option), Super Stable, Premium Income and
Super Cash. You can choose a single investment option,
or a mixture of different options, when you join REI Super.
You should always consider the likely return, risk and
investment time frame when making your investment
decision.
The Trustee may change the target or strategic asset
allocation of an investment option, add new or remove
investment options, and add or remove investment
managers at any stage. We will let you know if we do this.
Social and ethical investment choices.
For information about how we take labour, environmental,
social or ethical considerations into account when we
invest, see reisuper.com.au/pds. The material relating to
the risks of super may change between the time when
you read this Statement and the day when you acquire
the product.
Switching investment options.
You can switch your money or ask for future contributions
to be paid into a different option. Simply log on to your
account online at reisuper.com.au. Switching investment
options can be a significant decision. For more help,
visit reisuper.com.au/pds. The material relating to how
we invest your money may change between the time
when you read this Statement and the day when you
acquire the product.
6 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERS
If you do not choose
If you do not choose an investment option, your account
balance and all ongoing contributions will be invested in the
Trustee Super Balanced option, which is our MySuper option.
Trustee Super Balanced
Trustee Super Balanced (MySuper or default option)
What type of Growth-oriented diversified investment.
11
investment is it? 10 1
9
Investment return To earn a rate of return, after tax and fees,
8
objective is: that exceeds CPI by at least 3% per annum
over rolling 10 year periods*.
7
Investment time Medium term – three years plus.
6
frame:
2
5
4
3
Expected frequency To provide an illustration of the risk profile,
of negative return the probability of a negative annual return
over 20 year period: would be 4 years every 20 years. Strategic Asset Allocation
Risk profile: Medium to high 1. Australian Shares 19%
2. International Shares 32%
Summary of risk The Trustee Super Balanced investment
3. Australian listed property 8%
profile: option is designed for members who
4. International listed property
want higher potential returns and who (Hedged) 2%
are willing to accept a reasonably high 5. Unlisted property 4%
level of fluctuations in returns. This option 6. Global Infrastructure 4%
invests mainly in growth assets with some 7. Australian bonds 10%
interest bearing defensive assets. It has 8. International bonds 6%
potential for high returns over time due
9. Global inflation linked bonds 3%
to the significant proportion of growth
10. Alternatives 7%
assets. However, returns will vary and
11. Cash 5%
are expected in some years to be low
Allocations shown may vary by up to +/- 15%
or negative.
* The investment return objective is the investment return this option will seek to achieve after
investment fees and taxes. It is the amount above the increase in the rate of inflation. For example,
if the objective for an investment option is inflation +3% and the inflation rate is 2.5%, then the
investment return objective would be 5.5%.
For more information
on the Trustee Super
You should read the important information about... Balanced Option and
our investment philosophy, including information on other investment options,
our implemented investment consultant before making see our Investment Guide
a decision. Go to reisuper.com.au/pds and read our at reisuper.com.au/pds.
Investment Guide. The material relating
We have provided a lot of information on super, to the risks of investing
investment risk and investing for the future. Contact us in super may change
or go to reisuper.com.au. The material relating to the between the time when
investment menu may change between the time when you read this statement
you read this Statement and the day when you acquire and the day when you
the product. acquire the product.
reisuper.com.au | 1300 13 44 33 76. Fees and costs
Super is about saving. Industry super funds like REI Super are run only
to benefit members, and charge low fees and no commissions, to avoid
eating into your hard-earned super savings.
Under Australian law, REI Super is required to include the below warning about fees and
costs. The Trustee negotiates with its service providers to ensure fees to our members are
as low as possible. You pay no contribution fees and the Fund does not pay commissions
to financial advisers.
Did you know?
Small differences in both investment performance and fees and costs can have a
substantial impact on your long term returns.
For example, total annual fees and costs of 2% of your fund 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
may be able to negotiate to pay lower contribution fees and management costs where
applicable.* Ask the fund or your financial adviser.
To find out more: If you would like to find out more or see the impact of fees based on
your own circumstances, the Australian Securities and Investments Commission (ASIC)
website (moneysmart.gov.au) has a superannuation calculator to help you check out
different fee options.
* Please note that you cannot negotiate to pay lower management fees in REI Super.
Fees and costs for Trustee Super Varying of fees
Balanced Option We may vary our fees or
The main fees and costs for the Trustee Super Balanced costs, but we’ll provide
Option are listed on page 9. You can use this information to you at least 30 days’ notice
compare REI Super with other funds (see table on page 10). before any adverse change
occurs. The only exception
How fees are charged to your account is for investment fees,
Investment costs are deducted from your investment which may vary daily with
earnings before the earnings are added to your account. the composition of the
Fees and costs related to administration of your account are portfolio investment costs,
deducted directly from your account, and the amounts are and Government taxes
shown on your annual member statement. and charges.
Additional fees may be paid to a financial adviser if you
consult with one.
8 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERSTrustee Super Balanced (MySuper Option)
Type of fee or cost Amount How and when paid
Investment fee Nil Refer to Indirect Cost
Ratio below
Administration fee $1.65 per week The Administration fee is
deducted from your account
balance monthly in arrears or on
the date your account is closed.
Buy/Sell spread Buy spread: 0.17% Deducted weekly before unit
Sell spread: 0.17% prices are declared.
Switching fee Nil Not applicable.
Exit fee $90 Deducted from your account
for each withdrawal or if your
account is closed.
Advice fees Nil Not applicable
Relating to all members
investing in a particular MySuper
product or investment option
Other Fees and Costs See Fees and costs at reisuper.com.au/pds for information about
activity fees, insurance fees, and advice fees for personal advice.
Indirect Cost Ratio* 0.68% p.a. Deducted from the assets of
REI Super before investment
returns are declared.
For more details about fees and costs...
for the Trustee Super Balanced Option and other investment options. Go to
reisuper.com.au/pds and read Fees and costs. The material relating to the fees and
costs may change between the time when you read this Statement and the day
when you acquire the product.
* This includes investment management fees, performance fees and Trustee
operating fees.
reisuper.com.au | 1300 13 44 33 9Example of annual fees and costs
You should read the
important information The table below gives an example of how the fees and
about... costs in the Trustee Super Balanced Option can affect
your superannuation investment over a one-year period.
the fees, costs and
You can use this table to compare REI Super with other
investment options
super products.
before making a decision.
Go to reisuper.com.au/pds Example
and read Fees and costs.
Trustee Super Balanced (default & MySuper option)
The material relating
to the fees, costs and Investment $0 For every $50,000 you have in the
investment options in the fees Trustee Super Balanced (MySuper)
option you will be charged $0
fact sheet may change each year.
between the time when
you read this Statement Plus $85.80 And, you will be charged $85.80
administration ($1.65 per in administration fees regardless
and when you acquire fees week) of your balance.
the product.
Plus indirect 0.68% And, indirect costs of $340 each
costs for year will be deducted from your
Trustee Super investment.
Balanced
Equals cost If your balance was $50,000, then
of product for that year you will be charged
fees of $425.80 for the Trustee
Super Balanced (Default & MySuper)
option.*
*Please note: additional fees may apply.
Fees for financial advice
Financial planning is offered to REI Super members
through Mercer. Mercer financial advisers are authorised
representatives of Mercer Financial Advice (Australia) Pty
Ltd (MFA) ABN 76 153 168 293, Australian Financial Services
Licence 411766.
Mercer financial advisers are salaried professionals who
do not receive commissions for advice provided to our
members. You can arrange an appointment with them to
discuss your financial situation. There is no cost or obligation
for the initial consultation.
You will be provided with a fixed price quote. Any fees are set
by agreement between you and Mercer and provided to you
in a letter of engagement. Contact Mercer on 1300 13 44 33.
10 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERS7. How super is taxed
This section isn’t a comprehensive and complete
tax guide.
The taxation treatment of super is complex; we recommend
you contact the Australian Tax Office (ATO) on ato.gov.au
or your financial adviser for further details in relation to your
own personal circumstances.
Superannuation is generally taxed at three stages:
1. Contributions paid into a super fund
2. Investment earnings of a super fund
3. Benefits from a super fund.
Tax on contributions: Concessional contributions include
Superannuation Guarantee (SG), salary sacrifice, any extra
employer contributions, and contributions for which a tax
deduction is claimed. These are taxed at a rate of 15%.
Non-concessional or after-tax contributions are not taxed.
The Government sets annual limits for concessional and
non-concessional contributions and if you exceed them,
additional tax may apply.
Tax on investment earnings: Investment earnings are
generally taxed at a rate of up to 15%.
Tax on benefits: If you are under 60 years of age, your
super withdrawals may be taxed. Once you turn 60,
they are generally tax-free.
When acquiring a superannuation product you should !
provide your Tax File Number (TFN). If we don’t have your
TFN, you may pay extra tax on your contributions or when
you later access your benefit, or not be able to make
some types of contributions. It will also be difficult to trace
different super amounts in your name. This can mean that
you may not receive all of your super benefits when you
retire. Also note there will be taxation consequences if your
superannuation contribution caps are exceeded.
You should read the important information about...
How super is taxed before making a decision. Go to
reisuper.com.au/pds and read How super is taxed.
The material relating to how super is taxed may change
between the time when you read this Statement and
when you acquire the product.
reisuper.com.au | 1300 13 44 33 118. Insurance in your super
REI Super provides you with modern and flexible
insurance cover.
It is generally true that for many members, their need for
insurance cover changes over the course of their working
lives. Often, younger members are just starting out – they
may not yet be in a permanent relationship, and may not yet
have family responsibilities, or have acquired assets such as
a house which likely involves taking out a mortgage.
On the other hand, later on, people are likely to be heavily
involved in raising a family, and these may be the years where
people will carry the greatest level of debt. So therefore, they
need to be able to obtain greater insurance protection from
their super fund to meet these needs.
Types of insurance the Fund provides
Death and Total and Permanent Disablement (TPD) cover for
eligible members. Eligible members may also elect to take
out optional Salary Continuance (Income Protection) cover.
Cover when you first join REI Super
When you join REI Super, you will be provided with 4 units of
automatic cover for Death and TPD. There are no medicals
or health evidence required. A contribution must be received
from your employer within 6 months of joining the Fund for
cover to commence.
You can elect to have less than the default 4 units, or not to
have any insurance cover, by notifying us in writing.
12 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERSBasic Death & TPD Cover Optional Salary
Age at date of Death Sum Insured for 1 unit of cover
Continuance
or Disablement Insurance
(SCI) cover
15 – 22 $62,500
SCI cover allows you to
23 – 37 $64,000 – $104,000 insure against your loss of
38 – 45 $103,250 – $55,000 income if you are unable
46 – 55 $49,000 – $14,025 to work through Illness or
Injury and lodge an eligible
56 – 65 $12,500 – Nil
claim with our insurer.
The amount of cover reduces each birthday after you The payment of all SCI
turn 37. You should refer to the Insurance Guide available benefits is subject to your
at reisuper.com.au/pds for the full sum insured table. claim meeting the terms
and conditions of the
Applying for additional cover
insurance policy.
You can apply for additional cover subject to the maximum
levels stated in the Insurance Guide online simply by logging You can apply for cover
in to your online account at reisuper.com.au and going to up to 85% of your annual
the insurance area. Fast and simple, your online insurance salary. A maximum of 75% is
application should take less than 10 minutes to complete. paid to you as income and
10% contributed to your REI
When applying for insurance cover, you are required to super account, if you are
comply with the Duty of Disclosure as set out in the ‘Other unable to work. There is a
important information’ section in the Insurance Guide waiting period of 90 days
available at reisuper.com.au/pds. for members and a benefit
The Insurer may accept your application, and in some payment period of up to
cases apply exclusions to your additional cover for Death 2 years.
or TPD. The Insurer may also accept certain types of cover
and decline another type of cover. For instance, the insurer
may accept your application for additional death cover and
decline you for additional TPD cover.
reisuper.com.au | 1300 13 44 33 13You should read the
How much does insurance cost?
important information Each unit of Death and Total & Permanent Disablement
about... cover costs $1.50 per week and Death only cover costs
Insurance before making $0.75 per week.
a decision. Go to Each SCI unit provides a benefit of $5,200 per annum.
reisuper.com.au/pds The insurance fees payable for each unit of cover per annum
and read the Insurance may range from $7.43 to $107.96 depending on age. This
Guide for more information cost is applicable for a 90-day waiting period benefit.
about the eligibility, A contribution must be received from your employer within
cancellation, the cost 6 months of joining the Fund for cover to commence.
and any conditions and
exclusions that may
Warning: The cost of default cover will be deducted !
apply to insurance cover
from your account unless you opt out or cancel the cover.
provided through REI
Super. Warning: The
material relating to Can I transfer cover from elsewhere?
insurance may change You can transfer existing Death, TPD and SCI (Income
between the time when Protection) cover that you have from other super funds,
you read this Statement by completing an Application to Transfer Insurance Cover
and when you acquire available on our website. Transfers are subject to the
the product. maximum levels stated on the form.
Need help?
The Fund has an insurance calculator on the website
at reisuper.com.au/insurance. This can help you to
determine how much cover you need and the cost of
that cover.
Our helpline consultants, available on 1300 13 44 33 can
also assist you with discussing your insurance options.
Warning: The Insurer reserves the right to vary or !
restrict your cover based on health evidence you
may have supplied when applying for additional cover.
You will be advised if this applies to you.
14 INDUSTRY SUPER FUND | LOW FEES | RUN ONLY TO BENEFIT MEMBERS9. H
ow to open an REI Super account
Step 1 Read this Statement and the other important
information referred to in the Statement.
Step 2 Complete the Membership Application form
and make sure you remember to sign and date
the form.
Step 3 If you have super in other funds that you wish to
transfer to REI Super, complete the Rollover form.
If you have super that you want to transfer in from
more than one other fund, photocopy the form
and complete one form for each account you
wish to transfer.
Step 4 Post your completed application form to us.
Cooling-off period
As REI Super is not a public offer super fund, except in
respect of the pension products offered by REI Super under
their own specific Product Disclosure Statement, there is
no cooling-off period.
We respect your privacy
REI Super collects your personal information in order to
establish and manage your super account. Our Privacy
Policy outlines the type of information we keep about
you, as well as how we, and any of our service providers,
use this information. Our Privacy Policy is available at
reisuper.com.au/privacy-policy or by contacting REI Super.
Resolving complaints
If you’re not satisfied with our products or services,
we’ve established a formal procedure to deal with any
complaint or dispute that may arise to address your concerns
fairly and efficiently.
For more information go to reisuper.com.au/pds and read
How to make a complaint.
reisuper.com.au | 1300 13 44 33 15Contact us
Phone: 1300 13 44 33
between 8.30am and 7.00pm AEST. (Local call cost within Australia, calls from mobile phones may cost more.)
Web: reisuper.com.au
Email: admin@reisuper.com.au
Mail: GPO Box 4303, Melbourne VIC 3001
Fax: 03 9245 5827
REI101 07/15
facebook.com/reisuperMEMBERSHIP APPLICATION FORM
Follow Steps 1 to 7 below to complete this form if your employer is, or will be, a member of REI Super
and making contributions on your behalf.
Before you sign this application form, the Trustee is obliged to give you a full copy of the Product Disclosure Statement (PDS).
This is a summary of the important information relating to the Fund. The PDS will help you to understand the product and
decide if it is appropriate for your needs.
The latest version of the PDS has a publication date of 1 July 2015. If this application form is not part of a copy of the PDS,
go to reisuper.com.au/pds or call us on 1300 13 44 33 to obtain a copy.
When you have completed and signed the form, please return it to your employer or post to:
GPO Box 4303, Melbourne VIC 3001.
STEP 1: YOUR DETAILS
*Title *Date of birth
Mr Mrs Ms Miss Dr Other / /
*Surname
*Given names
*Residential address
*Suburb *State *Postcode
Contact telephone number – Business hours Contact telephone number – After hours
( ) ( )
*Mobile
*Email address
From time to time, we would like to tell you about products, services and opportunities available to you as an REI Super member.
Do you consent to us sending you information for this purpose? (You may opt out of this service at any time.) Yes No
STEP 2: TAX FILE NUMBER (TFN) NOTIFICATION
Don’t pay more tax than you have to – provide your TFN.
REI Super is required by law to ask you for your TFN. Your TFN is If you do not provide the Fund with your TFN, either now or later:
confidential, and you don’t have to give it to REI Super. It is not an • You may pay more tax on your contributions and benefits than you
offence to decline to provide your TFN to your super fund. However, would otherwise (if this happens, you may be able to claim the extra
you may pay more tax than you have to if you don’t supply it. tax back later);
If you choose to tell us your TFN, you are allowing REI Super to use it to: • It may be more difficult to find your superannuation benefits in the
• Find or identify your superannuation benefits where other future or to amalgamate any multiple superannuation accounts.
information is insufficient; The lawful purposes for which your TFN can be used and the
• Determine the tax payable on any contributions or benefits; consequences for not quoting your TFN may change in future as a
• Pass your TFN to the ATO when you receive a benefit result of legislative change. If you wish to provide your TFN to the
or have unclaimed super after reaching pension age; and Trustee, please complete this form and return it to the Fund. Please
note that your signature will serve as an acknowledgement that you
• Pass your TFN to any other super fund to which your super is
understand the circumstances in which your TFN may be collected
transferred in the future, unless you tell REI Super in writing not
and used.
to do so.
My Tax File Number is:
I give my consent for REI Super to use my TFN to search for other superannuation monies for me
from the ATO or another superannuation provider and to facilitate consolidation of my accounts.
PAGE 1 OF 4
* Indicates fields that MUST be completed.
REI201 07/15
Issued by REI Superannuation Pty Ltd ABN 68 056 044 770, AFSL No. 240569, RSE L0000314,
MySuper unique identifier 76641658449129, as Trustee of REI Super ABN 76 641 658 449, RSE R1000412.MEMBERSHIP APPLICATION FORM
CONTINUED
STEP 3: NOMINATION OF BENEFICIARIES
To assist the Trustee in determining who should receive any lump sum payable from the Fund in the event of your death, you should complete
this section. It is not binding on the Trustee, but your wishes will be taken into account.
Please write below the name(s) of the dependant(s) that you want to receive your superannuation and insurance (if any) if you die.
Don’t forget to write down what percentage of your benefit you would like each dependant to be paid. The percentages must add up to 100%.
A dependant is your spouse (including de facto), your child (including step child, adopted child or ex-nuptial child) or others financially dependent
on you at the time of your death. For more information in relation to dependants, refer to the Insurance section of the PDS.
If I die while a member of the Fund, I wish for my benefit to be paid to my dependants listed below. If I sign this form without nominating
a dependant, this indicates that I wish my benefit to be paid to the legal personal representative(s) of my estate.
1. Full name
Residential address
Suburb State Postcode
Relationship Date of birth Proportion of benefit
/ / %
2. Full name
Residential address
Suburb State Postcode
Relationship Date of birth Proportion of benefit
/ / %
3. Full name
Residential address
Suburb State Postcode
Relationship Date of birth Proportion of benefit
/ / %
4. Full name
Residential address
Suburb State Postcode
Relationship Date of birth Proportion of benefit
/ / %
1 0 0
TOTAL MUST ADD UP TO %
PAGE 2 OF 4MEMBERSHIP APPLICATION FORM CONTINUED STEP 4: MEMBER INVESTMENT CHOICE You can choose any one or more investment options, up to a total of 5. You should refer to the Investment section of the PDS for full details in relation to Member Investment Choice. The total of your choices must add up to 100% for it to be a valid choice. If your choices do not add up to 100%, or if you don’t make a selection, the default investment option will apply to your entire super balance until further notice from you. REI Super’s default investment option is the Trustee Super Balanced (MySuper Option) investment option. Super Growth % Trustee Super Balanced (MySuper option) % Super Stable % Premium Income % Super Cash % TOTAL 100% STEP 5: INSURANCE COVER FOR DEATH AND TOTAL AND PERMANENT DISABILITY You can select the amount of insurance cover you have in the Fund. Please refer to the Insurance section of the PDS for full details of the insurance cover offered by the Fund. I choose the following number of units of insurance cover: 4 units (the minimum – also known as the ‘default’ – level of insurance cover you must have in REI Super) Other (please advise the number of units – maximum of 20 units): units Nil cover (you do not require any units of insurance) Important notes: • The cost of insurance is deducted from your employer account balance. Consequently, you are not insured until a contribution is received from your employer (refer to the Insurance section of the PDS for full details). • Please refer to the ‘Insurance Scale’ in the Insurance section of the PDS for the dollar amount of cover per unit and the cost of insurance per unit. • You are also able to transfer insurance cover you hold already with another super policy. Please see the Transfer of Insurance Cover form, also enclosed, for further detail and conditions. • Where you submit a request for more than 4 units of cover within 6 months of first joining, or you apply for any amount of additional cover after this time, you will be required to provide health evidence. When applying for insurance cover, you are required to comply with the Duty of Disclosure as set out in the ‘Other important information’ section in the Insurance Guide available at reisuper.com.au/pds. The Insurer may accept your application, and in some cases apply exclusions to your additional cover for Death or TPD. The Insurer may also accept certain types of cover and decline another type of cover. For instance, the insurer may accept your application for additional death cover and decline you for additional TPD cover. *DISABILITY INSURANCE DECLARATION Have you ever been paid a benefit for Total and Permanent Disablement from a super fund or life policy or are you presently applying for, or entitled to apply for, a payment for a disability benefit? YES NO If you answer ‘Yes’, you will only be eligible to have Death Only cover and you will not be able to apply for additional insurance cover. If you do not answer the question above, it will be assumed that you have not previously been paid a TPD benefit. However, if you subsequently lodge a disability claim and it is found that you have previously received a disability benefit, then your claim under the Fund will not be considered. SALARY CONTINUANCE INSURANCE (SCI) You are able to apply online for SCI cover once your Membership Application has been received and finalised. Please refer to the website or the Insurance section of the PDS for further detail. ROLLOVER SUPER FROM OTHER FUNDS If you would like to roll in money that you have in other super funds to REI Super, please complete and return the Rollover Form included in the PDS. * Indicates fields that MUST be completed. PAGE 3 OF 4
MEMBERSHIP APPLICATION FORM
CONTINUED
STEP 6: EMPLOYMENT DETAILS
*Employer trading name
*Postal address
*Suburb *State *Postcode
*Employer telephone number *Employer code
( )
*Date joined company *Date of commencement of contributions#
/ / / /
#
Complete this date only if contributions commence at a date different from ‘Date joined company’.
Important note: Insurance cover will NOT commence until an employer contribution is received.
YOUR PRIVACY
The Fund is administered by us along with our service provider, We may disclose your information to various organisations in order to
Mercer Outsourcing Australia Pty Ltd (Mercer). We collect, use and manage your super, including your employer, our professional advisers,
disclose personal information about you in order to manage your insurers, our related companies which provide services or products
superannuation benefits and give you information about your super. relevant to the provision of your super, any relevant government
We may also use it to supply you with information about the other authority that requires your personal information to be disclosed, and
products and services offered by us and our related companies. our other service providers used to assist with managing your super.
If you do not wish to receive marketing material, please contact us In managing your super your personal information will be disclosed to
on 1300 13 44 33. service providers in another country, most likely to Mercer’s processing
Our Privacy Policies are available to view at reisuper.com.au or you centre in India. Our Privacy Policies list all other relevant offshore locations.
can obtain a copy by contacting us on 1300 13 44 33. Our Privacy Policies set out in more detail how we deal with your
If you do not provide the personal information requested, we may not personal information and who you can talk to if you wish to access and
be able to manage your superannuation. seek correction of the information we hold about you. It also provides
detail about how you may lodge a complaint about the way we have
We may sometimes collect information about you from third parties
dealt with your information and how that complaint will be handled.
such as your employer, a previous super fund, your financial adviser,
our related entities and publicly available sources. If you have any other queries in relation to privacy issues, you
may contact us on 1300 13 44 33 or write to our Privacy Officer,
GPO Box 4303, Melbourne VIC 3001.
STEP 7: DECLARATION AND SIGNATURE
Your signature below indicates that you have read, understood and agree to the following statements:
• I apply to become a member of REI Super on the terms and conditions • I consent to the Fund providing me with information about benefits
contained in the Trust Deed and Rules of the Fund. I understand that the provided by third parties, including home loans and other financial
Trust Deed and Rules can be inspected on request. services and products by ME Bank. (If you do not want information
• I have received and read the information provided to me about the sent to you, simply contact us).
Fund, in particular, the Product Disclosure Statement. • Where my email address has been provided I consent to receiving Fund
• The choices I have indicated on this form will remain in force until I information electronically where this is feasible.
advise the Trustee otherwise, with the effective date of change being as • I understand and consent to my information being collected,
advised by the Trustee. disclosed and used in the manner set out in this form.
• The information that I have supplied on this application form is true and
correct at the date of signing and I will notify the Trustee immediately if
any of this information changes.
*Signature
*Date
7 / /
* Indicates fields that MUST be completed.
PAGE 4 OF 4ROLLOVER FORM
COMPLETING THE FORM ROLLOVER INITIATION
REQUEST TO TRANSFER WHOLE BALANCES
BEFORE COMPLETING THIS FORM
• Read the important information below. • Death and disability benefits – your FROM fund may insure you
• Check that the fund you are transferring your benefits TO can against death, illness or an accident which leaves you unable to
accept this transfer. return to work. If you choose to leave your current fund, you may
lose any insurance entitlements you have – other funds may not
WHEN COMPLETING THIS FORM offer insurance, or may require you to pass a medical examination
• Refer back to these instructions where a question shows a message before they cover you.
like this • When considering a new fund, you should consider checking the
• Print clearly in BLOCK LETTERS. costs and amount of any cover offered.
AFTER COMPLETING THIS FORM WHAT HAPPENS IF YOU DO NOT QUOTE
• Sign the authorisation.
MY TAX FILE NUMBER (TFN)?
You are not required to provide your TFN to your super fund. However,
• Send the request form to either your FROM fund or your TO fund.
if you do not provide your TFN, your fund may be taxed at the highest
IMPORTANT INFORMATION marginal tax rate, plus the Medicare levy, on contributions made to
your account in the year, compared to the concessional tax rate of 15%.
his transfer may close your account – you will need to check
T Your fund may deduct this additional tax from your account.
this with your FROM fund. If your super fund does not have your TFN, you will not be able to make
This form can not be used to: personal contributions to your super account. Choosing to quote your
• transfer part of the balance of your super benefits TFN will also make it easier to keep track of your super in the future.
• transfer benefits if you don’t know where your super is Under the Superannuation Industry (Supervision) Act 1993, your super
fund is authorised to collect your TFN, which will only be used for
• transfer benefits from multiple funds on this one form
lawful purposes. These purposes may change in the future as a result of
– a separate form must be completed for each fund you wish
legislative change. The TFN may be disclosed to another super provider
to transfer super from
when your benefits are being transferred, unless you request in writing
• the Standard choice form must be used to change funds that your TFN is not to be disclosed to any other trustee.
• open a super account
TRANSFERS TO SELF-MANAGED SUPER FUNDS
• transfer benefits under certain conditions or circumstances
You must use the form Rollover initiation request to transfer whole
– for example, if there is a super agreement under the
balance of superannuation benefits to your self-managed super fund
Family Law Act 1975 in place
(NAT 74662) to transfer your benefits to your own self-managed super
fund (SMSF).
CHECKLIST
Have you read the important information? HAVE YOU CHANGED YOUR NAME OR ARE YOU
SIGNING ON BEHALF OF ANOTHER PERSON?
Have
you considered where your future employer contributions If you have changed your name or are signing on behalf of the
will be paid? applicant, you will need to provide a certified linking document
– a linking document is a document that proves a relationship
Have you completed all of the mandatory fields on the form? exists between two (or more) names. The following table contains
information about suitable linking documents:
Have you signed and dated the form?
Purpose Suitable linking documents
WHAT HAPPENS TO MY FUTURE EMPLOYER
Change of name Marriage certificate, deed poll or change of
CONTRIBUTIONS?
name certificate from the Births, Deaths and
Using this form to transfer your benefits will not change the fund Marriages Registration Office
to which your employer pays your contributions and may close the
account you are transferring your benefits FROM. Signed on behalf Guardianship papers or Power of Attorney
of the applicant
If you wish to change the fund into which your employer contributions
are being paid, you will need to speak to your employer about super
choice. For the appropriate forms and information about whether you WHERE DO I SEND THE FORM?
are eligible to choose the fund to which your employer contributions You can send your completed and signed form to either the
are made, visit ato.gov.au or call the Australian Taxation Office (ATO) transferring or the receiving fund.
on 13 10 20.
MORE INFORMATION
THINGS YOU NEED TO CONSIDER WHEN
TRANSFERRING YOUR SUPER For more information about super, visit the:
When you transfer your super, your entitlements under that fund may • Australian Securities & Investments Commission (ASIC) website
cease – you need to consider all relevant information before you make at moneysmart.gov.au
a decision to transfer your super. If you ask for information, your super • ATO website at ato.gov.au/super
provider must give it to you. For more information about this form, phone the ATO on 13 10 20.
Some of the points you may consider are:
• Fees – your FROM fund must give you information about any exit or Issued by REI Superannuation Pty Ltd ABN 68 056 044 770, AFSL No. 240569,
RSE L0000314, MySuper unique identifier 76641658449129, as Trustee of
withdrawal fees. If you are not aware of the fees that may apply, you
REI Super ABN 76 641 658 449, RSE R1000412.
should contact your fund for further information before completing
this form. The fees could include administration fees, and exit or
withdrawal fees. Your TO fund may also charge entry or deposit
fees on transfer. Differences in fees that funds charge can have a
significant effect on the super you will have to retire on – for example,
a 1% increase in fees may significantly reduce your final benefit. PAGE 1 OF 2ROLLOVER FORM
REQUEST TO TRANSFER WHOLE BALANCE OF
SUPERANNUATION BENEFITS BETWEEN FUNDS
under the Superannuation Industry (Supervision) Act 1993
COMPLETING THIS FORM AFTER COMPLETING THIS FORM
• Read the important information pages • Sign the authorisation
• Refer to instructions where indicated with a • Send form to either your FROM (transferring) or
• This form is only for whole (not part) balance transfers. TO (receiving) fund.
PERSONAL DETAILS
*Title Residential address
*Address
Mr Mrs Ms Miss Dr Other
*Surname
*Given names
*Suburb
*Other/previous names
*State/Territory *Postcode
Residential address
*Date of birth If the address held by your FROM fund is different to your
current residential address, provide the details below.
/ / dd/mm/yyyy
Tax File Number *Address
Under the Superannuation Industry (Supervision) Act 1993, you are
not obliged to disclose your tax file number, but there may be tax
consequences. *Suburb
See ‘What happens if I do not quote my Tax File Number (TFN)?’
*State/Territory *Postcode
*Sex Male Female
Contact phone number
FUND DETAILS
FROM (Transferring fund) TO (Receiving fund)
*Fund name *Fund name REI SUPER
*Fund address *Fund address GPO BOX 4303, MELBOURNE VIC 3001
Fund phone number Fund phone number 1300 13 44 33
*Membership or account number *Membership or account number
Australian Business Number (ABN) Australian Business Number (ABN) 76 641 658 449
Unique Superannuation identifier Unique Superannuation Identifier 76641658449601
If you have multiple account numbers with this fund, you must You must check with your TO fund to ensure they can accept
complete a separate form for each account you wish to transfer. this transfer.
AUTHORISATION
By signing this request form I am making the following statements: *Name (PRINT IN BLOCK LETTERS)
• I declare I have fully read this form and the information completed is true and correct.
• I am aware I may ask my superannuation provider for information about any fees or
7
charges that may apply, or any other information about the effect this transfer may have *Signature
on my benefits, and have obtained or do not require such information.
• I consent to my tax file number being disclosed for the purposes of consolidating my account. 7
• I discharge the superannuation provider of my FROM fund of all further liability in respect
of the benefits paid and transferred to my TO fund. *Date
• I request and consent to the transfer of superannuation as described above and authorise
the superannuation provider of each fund to give effect to this transfer. / / dd/mm/yyyy
REI205 09/14
*Denotes mandatory field. If you do not complete all of the mandatory fields, there may be a delay
in processing your request.
PAGE 2 OF 2STANDARD CHOICE FORM
EMPLOYEE TO COMPLETE
1. Choice of super fund
I request that all of my future contributions be paid to my own super fund.
2. Your details
Name
Employee identification number (if applicable)
Tax File Number (TFN) (if applicable)
Your are not obligated to quote your TFN, however there are benefits for you if you
quote it. Go to reisuper.com.au/pds and see How Super Works for more information.
If TFN is provided by an employee, then employer must provide it to the super fund.
3. Details of my chosen superannuation fund
Fund name REI SUPER
Fund address GPO BOX 4303, MELBOURNE VIC 3001
Membership No. (if applicable)
Account name
Supernnuation fund’s Australian Business Number (ABN) 76 641 658 449
Unique Superannuation Identifier (USI) 76641658449601
Daytime phone number 1300 13 44 33
4. Appropriate documentation (Place an 7 in the box if you have attached the required information.)
I have attached:
a. a
letter from the trustee stating that this is a complying fund or retirement savings account (RSA) or, for a self managed superannuation fund,
a copy of documentation from the ATO confirming the fund is regulated
b. written evidence from the fund stating that they will accept contributions from my employer, and
c. details about how my employer can make contributions to this fund.
Your employer is not required to accept your choice of fund if you have not provided the appropriate documents.
Signature
Date
7 / / dd/mm/yyyy
Do not send this form to REI Super. Give this form to your employer.
EMPLOYER TO COMPLETE
Date valid choice is accepted
/ / dd/mm/yyyy
Date you act on your employee’s valid choice
/ / dd/mm/yyyy
Privacy Statement
We do not collect this information. We provide you a format as an employee to provide this information to your employer.
Issued by REI Superannuation Fund Pty Ltd. ABN 68 056 044 770, AFSL 240569, RSE L0000314,
MySuper Unique Identifier 76641658449129, as Trustee of REI Super ABN 76 641 658 449, RSE R1000412.
REI 206 09/14COMPLIANCE LETTER
To Whom It May Concern
Compliance Statement – REI Super
SFN : 111 695 944
ABN: 76 641 658 449
AFSL: 240 569
SPIN: REI0001AU
RSE License No: R1000412
Unique Superannuation Identifier: 76641658449601
I certify on behalf of the Trustee of REI Super:
• The full name of the Fund is ‘REI Super’.
• The full name of the trustee is ‘REI Superannuation Fund Pty Ltd’.
• The Fund has an RSE License No. R1000412
• The Fund is a resident regulated superannuation fund within the meaning of the Superannuation
Industry (Supervision) Act 1993 (‘SIS Act’).
• The Fund is a complying superannuation fund within the meaning of the SIS Act and has never
received a notice of non-compliance from the Australian Prudential Regulation Authority.
The Fund has never been subject to a direction under Section 63 of the SIS Act.
• The Fund is able to accept superannuation contributions for eligible persons, which will
be maintained and only paid in accordance with the Superannuation Industry (Supervision)
Regulations.
• There are no minimum amounts that can be accepted by the Fund.
• REI Super provides greater than the ‘minimum’ prescribed level of insurance cover for death as
contained in the choice of fund government regulations.
• All completed administration documentation should be sent to:
REI Super
GPO Box 4303
MELBOURNE VIC 3001
• REI Super will provide information on how to pay contributions electronically.
Kind Regards,
Mal Smith
CEO
REI Super
REI 116 09/14
GPO Box 4303 Melbourne VIC 3001 | T 1300 13 44 33 | E admin@reisuper.com.au | W reisuper.com.au
Issued by REI Superannuation Pty Ltd ABN 68 056 044 770, AFSL No. 240569, RSE L0000314,
MySuper unique identifier 76641658449129, as Trustee of REI Super ABN 76 641 658 449, RSE R1000412.APPLICATION TO
TRANSFER INSURANCE COVER
Complete Parts 1 to 3 below of this Application to Transfer Insurance Cover, and send it to:
REI Super, GPO Box 4303, Melbourne VIC 3001.
If you have nominated REI Super as your Fund of Choice for the payment of future Superannuation Guarantee contributions by your
employer, you may be eligible to transfer any existing Death (Death) only or Death and Total and Permanent Disablement (TPD) insurance
cover, or Salary Continuance Insurance (SCI), also known as Income Protection that you have under your existing superannuation fund
(Previous Fund) to your REI Super membership (subject to conditions). Alternatively, you may wish to apply for default cover via this form.
If you wish to apply to transfer your cover, you need to:
• Complete PART 1 and provide all the required details; and
• Answer all questions contained in PART 2 (Personal Statement and Confirmation of Requirements); and
• Sign and date the Declaration contained in PART 3.
If REI Super’s Insurer (MetLife Insurance Limited) accepts your application:
• You will be allocated sufficient units of cover (rounded up to the next unit) to replace the level of cover that you currently
have under your Previous Fund, in addition to cover you hold with REI Super.
• Alternatively – where you do not hold any cover through REI Super, and the amount you wish to transfer equals less than
4 units of cover – you will receive 4 units of cover.
Please note: You may transfer a maximum of $750,000 of Death and TPD cover or 15 units of cover (whichever is the lesser amount)
and up to 16 units of Salary Continuance Insurance (SCI) Benefit. You are able to transfer cover from multiple funds at any time during
your membership subject to maximums/terms and conditions.
PART 1: YOUR DETAILS
Title Date of birth
Mr Mrs Ms Miss Dr Other / /
Surname
Given names
Residential address
Suburb State Postcode
EMPLOYER DETAILS
Company name
Contact person
Contact telephone number Facsimile
( ) ( )
Postal address
Suburb State Postcode
PAGE 1 OF 4
REI 207 07/15
Issued by REI Superannuation Pty Ltd ABN 68 056 044 770, AFSL No. 240569, RSE L0000314,
MySuper unique identifier 76641658449129, as Trustee of REI Super ABN 76 641 658 449, RSE R1000412.APPLICATION TO TRANSFER
INSURANCE COVER CONTINUED
PART 1: YOUR DETAILS (CONTINUED)
PREVIOUS FUND DETAILS (the Fund/s from which cover is to be transferred)
This application will be considered incomplete without at least one of the identifiers provided.
Name of Fund
Member number Australian Business Number (ABN) SPIN
Name of Fund
Member number Australian Business Number (ABN) SPIN
Name of Fund
Member number Australian Business Number (ABN) SPIN
PART 2: PERSONAL STATEMENT AND CONFIRMATION OF REQUIREMENTS
In order for REI Super and its Insurer to consider your application to transfer your insurance cover from your Previous Fund, you must answer each
of the questions below.
DO NOT CANCEL YOUR PREVIOUS COVER UNTIL REI SUPER CONFIRMS ACCEPTANCE.
1. Will you be transferring the whole of your account 3. The level and type of cover under my Previous Fund(s) are as follows:
balance in your Previous Fund to REI Super? YES NO
If ‘Yes’, please complete a Rollover Form (available on the REI Super a) Total Death Cover: $
website at reisuper.com.au) and attach it to this application. (maximum $750,000 or the equivalent of 15 units of cover)
If your answer is ‘No’, you will not be eligible to transfer your
insurance cover via this form. You will need to complete a b) Total TPD Cover: $
Standard Personal Statement and Declaration of Health (maximum $750,000 or the equivalent of 15 units of cover)
and be accepted by the Insurer.
c) Monthly Salary Continuance
Note: If you have already transferred your superannuation account balance
Insurance Benefit: $
from your Previous Fund, you do not need to complete the Rollover Form.
(maximum up to 16 units of cover)
2. Please confirm (by ticking the box below) that all of the following You will be allocated the nearest number of units to replace the
statements are true and correct: monthly benefit in your Previous Fund.
a) The existing insurance cover under my Previous Fund will 9 0
be cancelled; and d) Income Protection waiting period: days
b) I will not be transferring the cover under my Previous Fund e) Salary Continuance Insurance period: 2 years
to any other division or section of my Previous Fund or to If you are applying to transfer your income protection cover,
any other fund; and what is your annual insurable income (salary)?
c) I will not either effect a continuation option, or subsequently
reinstate cover within my Previous Fund or any other division $
or associated fund. Please also attach the most recent superannuation statement(s),
I confirm that all three statements are true and confirming the level and type of cover you have under your
correct and agree to abide by these requirements. YES NO Previous Fund.
If your answer is ‘No’, you will not be eligible to transfer your
insurance cover via this form. You will need to complete a
Standard Personal Statement and Declaration of Health
and be accepted by the Insurer.
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