Click to add text VicSuper Pty Ltd ABN AFSL RSE L is the Trustee of VicSuper Fund R VTA HR Conference Choice of Fund and other information. Presented by: Lorenz Alphonso Superannuation Adviser VicSuper Representative

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General nature of presentation This presentation provides general advice without taking into account any of your objectives, financial situation or needs. As a result, this advice may not be appropriate for your circumstances. As this presentation contains information about VicSuper Fund benefit plans, you should ensure that you read the relevant Combined Financial Services Guide and Product Disclosure Statement prior to making any decision in relation to the benefit plan.

Information on VicSuper’s general financial advice service VicSuper representatives are paid salaries by VicSuper. No commissions are payable to or received by VicSuper representatives, any other person or entity or VicSuper itself to recommend VicSuper. VicSuper is not a member of any financial group nor does it have any ownership links or affiliations that would affect the advice provided by its representatives. VicSuper is the Trustee of the Fund and, as the AFS licensee, is responsible for the advice provided. You can call VicSuper's Member Centre on toll free ; log on to visit one of our five superannuation advice centres; or write to us at GPO Box 89, Melbourne 3001.

Part 1: Federal Budget changes - Contributions caps

Contribution caps - concessional contributions Annual contribution limits have been halved Superannuation Guarantee (SG) Additional employer contributions Salary sacrifice Self employed contributions Annual limit of $25,000 Above age 50 – annual limit $50,000 (until 30 June 2012) Amounts above the limits are taxed at 46.5% (top marginal tax rate including Medicare levy) Bonus payments salary sacrificed into super are included in caps Amounts in excess count towards non-concessional contributions limit The date the contribution is received determines the financial year the contribution is counted for The limits apply per person across all super funds, it is not a fund limit

Contribution caps – example Mark age 48 Salary $60,000 Performance bonus$8,000 SG$6,120 (9% of $68,000) Salary Sacrifice$18,000 Salary sacrifice of performance bonus$8,000 Total concessional contributions$32,120 Tax payableTotal $7,061 15% up to $25,000 ($3,750) plus 46.5% on $7,120 (highest MTR plus Medicare levy) ($3,311) Counted towards the non-concessional contribution cap $7,120

Obligations update - Tax File Numbers - Choice of fund Part 2:

Tax File Numbers TFN must be passed on by the employer generally when paying the first contribution for an employee to the super fund Without a member’s TFN, a superannuation fund may be required to: – charge additional tax on certain contributions on 30 June each year – not accept certain contributions

Choice of fund – your obligations  Select a default fund for the choice of fund form  Issue eligible employees with a choice of fund form within 28 days of them commencing  Keep records for 5 years × No need to follow up your employees × You only need to accept a new choice form once every 12 months If your employees do not return the COF form, make payments to the default fund.

Choice of fund - The 28 day rule for Lucas the contractor 1 July 15 July 28 Jul Jul 1 August5 Aug 15 August 28 August31 Aug 1 Sep 15 Sep 20 Sep30 Sep Start Pay super Contract ends Lucas returns* Issue COF form returned 1 Oct5 Oct 2 months to action JULY AUGUST SEPTEMBER OCTOBER *When Lucas returns on a new contract, the 28 day rule starts again from the new start date

 Member number is supplied  Check that details of the select fund have been supplied including: SPIN no, Payment and Contact details. × There is no requirement to become a participating employer If unsure contact the fund to check if employer needs to register to pay into account (quote SPIN)  Proof that the fund is a complying fund – A letter of compliance For Self Managed Super Funds insist on letter of complying fund status from the ATO We recommend that you check on the complying status of super funds at least every two years. Refer to ‘Super Fund Lookup’  That the form is signed  If completed correctly – start paying to chosen fund within 2 months Choice of fund - Checking a Standard Choice Form

Part 3: How VicSuper can help

We all like to help people but be careful of providing advice to your employees any financial product advice given in relation to super can only be provided under an Australian Financial Services Licence (AFSL) financial product advice is a recommendation or statement of opinion that: – is intended to influence in making a decision in relation to a financial product or class of products, or – could reasonably be regarded as being intended to have such an influence

VicSuper advice service a one-on-one superannuation advice service covers the following topics for members and prospective members including Emergency Services Superannuation Scheme (ESSSuper) - Revised, New, SERB and Transport Scheme members: – being on track for retirement – determining appropriate investment options – strategies to meet immediate and future goals VicSuper provides this service without obligation and free of charge please contact the VicSuper Member Centre on to make an appointment for an interview at your nearest VicSuper advice centre advice centres in Melbourne, Traralgon, Bendigo, Geelong and Blackburn

How VicSuper can help a dedicated VicSuper account consultant VicSuper EmployersOnline enables you to administer your employees’ super online Employer Resource Guide 2009/2010 new starter training sessions for your superannuation administration staff How do we rate and what additional services would you like VicSuper to provide – we value your feedback

Any questions?

© 2009 VicSuper Pty Ltd The information presented in this seminar is intended to provide general financial product advice on VicSuper Fund benefit plans; the Emergency Services & State Super (ESSSuper) – Revised, New, SERB and Transport Schemes; and general superannuation matters and does not take into account your or your employees’ particular investment objectives, financial situation and specific needs. As this general advice will not take into account your or your employees’ circumstances, you will need to consider if the general advice provided is suitable for your superannuation requirements before taking any action. You should assess your own financial situation and your employees’ superannuation requirements and obtain the relevant Combined Financial Services Guide (FSG) and Product Disclosure Statement (PDS) before making a decision. The relevant VicSuper Combined FSG and PDS can be obtained by calling our Member Centre on or by visiting vicsuper.com.au. You may also wish to seek the help of a qualified VicSuper representative. VicSuper Pty Ltd ABN (“VicSuper”) is the Trustee of VicSuper Fund ABN The Trustee holds an Australian Financial Services Licence (AFSL ) under the Corporations Act 2001 (Cwlth) and a RSE Licence under the Superannuation Industry Supervision Act 1993 (Cwlth). Under its AFSL, VicSuper is licensed to deal in and provide financial product advice on superannuation products. At present VicSuper representatives are limited to recommending VicSuper Fund benefit plans and providing financial product advice on VicSuper Fund benefit plans; the Emergency Services & State Super (ESSSuper) - Revised, New, SERB and Transport Schemes; and general superannuation matters. VicSuper does not provide advice about any other superannuation funds. This seminar is based on information current as at August 2009 unless otherwise stated.