Pensions

The Fund offers a flexible pension solution for your retirement needs. The Allocated Pension offers tax efficiencies and the full range of investment options available.

To download a copy of the Product Disclosure Statement and Information Guide go to

Brochures and Forms

The Basic Rules

The MAP Allocated Pension offers you a regular tax-effective income stream with a choice of levels of pension payments within the broad minimum and maximum levels set by Commonwealth Government regulations. These levels are adjusted annually, effective 1 July each year, based on your age and your account balance. The MAP Allocated Pension can only be purchased with unrestricted non-preserved superannuation or ETP monies. MAP Allocated Pension gives you the option to make lump sum withdrawals at any time. You are able to nominate a beneficiary to receive the balance of your account in the event of your death.

Your pension payments will be made until your account is reduced to nil or until the date of your death. You can elect to automatically index your pension payment amount to the Consumer Price Index (CPI) or another discretionary fixed percentage each year (provided that this is within your minimum and maximum annual pension amounts for the year).

How to Invest

You can commence your pension by transferring funds from your account in the Employer or Personal Divisions of the Fund. You can also rollover benefits from another superannuation provider. The minimum investment is $30,000.

How Often Are Payments Made

Your pension can be paid:

• monthly;
• quarterly;
• half yearly; or
• yearly.

Your payments are made until the date of your death or when your account is reduced to nil.

Lump Sum Withdrawals (commutations)

The option to make lump sum withdrawals is only available in the MAP Allocated Pension. A $3,000 minimum applies to pension commutations. Where you make more than one additional lump sum withdrawal per financial year, apart from your regular pension payment, a fee of $133.25 will be charged for each additional withdrawal.

Taxation of Your Pension Account

Earnings

Investment earnings on pension assets are tax-free.

Withdrawals (commutations)

A lump sum withdrawal that is not rolled over or transferred to another complying superannuation fund, rollover or pension fund will be treated as an ETP and subject to tax. How your ETP is taxed will depend on its components and your age. Lump sum withdrawals may also affect social security entitlements.

Pension Payments

Pension payments, less what is deemed to be tax-free (deductible amount), are treated as personal income and are assessable for taxation purposes. Tax will be deducted from each pension payment on a PAYG withholding basis plus Medicare Levy and Medicare Levy Surcharge (if applicable). Please read the notes on the reverse of the Tax File Number Declaration form regarding the claiming of the tax-free threshold. A PAYG Payment Summary will be issued each year. You may also be entitled to a 15% tax offset on the amount of your annual pension payments.

This tax information provided is a brief summary only. It is based on taxation laws that were current at the time of printing the Product Disclosure Statement.

Further information is available from the Australian Taxation Office (ATO). It is strongly recommended that you seek advice from a licensed taxation adviser.