VTA HR Conference Choice of Fund and other information.

1. VTA HR ConferenceChoice of Fund and other information. Presented by: Lorenz Alphonso Superannuation Adviser VicSuper Representative

2. About VicSuper Please turn off your mobile phone

3. 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.

4. 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 1300 366 216; log on to www.vicsuper.com.au; visit one of our five superannuation advice centres; or write to us at GPO Box 89, Melbourne 3001.

5. Part 1:Federal Budget changes- Contributions caps

6. Contribution caps - concessional contributions • Annual contribution limits have been halved • 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

7. Contribution caps – example

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

9. 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

10. 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.

11. JULY Start Choice of fund - The 28 day rule for Lucas the contractor Issue COF form Pay super AUGUST COF form returned 2 months to action Pay super SEPTEMBER Contract ends Pay super Lucas returns* OCTOBER *When Lucas returns on a new contract, the 28 day rule starts again from the new start date

12. Choice of fund - Checking a Standard Choice Form • 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’www.abn.business.gov.au • That the form is signed • If completed correctly – start paying to chosen fund within 2 months

13. Part 3:How VicSuper can help

14. 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

15. 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 1300 366 216 to make an appointment for an interview at your nearest VicSuper advice centre • advice centres in Melbourne, Traralgon, Bendigo, Geelong and Blackburn

16. 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

17. Any questions?

18. 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 1300 366 216 or by visiting vicsuper.com.au. You may also wish to seek the help of a qualified VicSuper representative. • VicSuper Pty Ltd ABN 69 087 619 412 (“VicSuper”) is the Trustee of VicSuper Fund ABN 85 977 964 496. The Trustee holds an Australian Financial Services Licence (AFSL 237333) 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. © 2009 VicSuper Pty Ltd