Engineering Super

Reference Guide
Effective 22 November 2023

Engineering
Super

This is general information only and does not take account of your personal objectives, financial situation or needs. Before acting on it,
consider if the information is appropriate and whether you need to speak to an accredited professional. This product is issued by
Diversa Trustees Limited (ABN 49 006 421 638, AFSL No. 235153, RSE L0000635) as trustee for Professional Super, which is a sub-fund
of the Tidswell Master Superannuation Plan (ABN 34 300 938 877; RSE R1004953). Professional Superannuation Management Pty Ltd
(ABN 31 617 160 791; AFSL No. 499786) is the Promoter of Professional Super, which is marketed under multiple brands, including
Engineering Super.
Contents

Important Information 1 6. How superannuation is taxed

Significant benefits and risks 1 6.1 Tax paid on contributions 24
Who should read this document? 1 6.2 Concessional contributions 24
6.3 Non-concessional contributions 24
1. How super works
6.4 Tax payable 25
1.1 Is the Fund for you? 2
6.5 Tax on earnings 26
1.2 When and what money can be added to my
superannuation account? 2 6.6 Tax rebates on tax deductions 26
1.3 Contribution splitting 6 6.7 Tax on payments from super 27
1.4 Eligibility rules for accessing superannuation 7 6.8 Death benefits 27
6.9 Rollover between super funds 27
2. Benefits of investing with the Fund
6.10 Trans-Tasman Portability scheme 27
2.1 Simplified, low cost super 10
6.11 Partial withdrawals 28
2.2 Keeping your super organised 10
6.12 Providing your Tax File Number (TFN) 28
2.3 Loyalty discount program 10

7. How to open an account

3. Risks of Super
About your membership 29
3.1 Some key investment principles 12
7.1 How to join 29
3.2 Diversification 12
7.2 Cooling-off period 29
3.3 Investment risk 13
7.3 Keeping you informed 29

4. How we invest your money 7.4 Lost Members and Inactive Low-Balance Accounts 29
4.1 Investment options 14 7.5 Unclaimed benefits 30
4.3 High Growth Investment Option 14 7.6 Information for temporary residents 30
4.4 Growth Investment Option 15 7.7 Complaints handling process 30
4.5 Balanced Investment Option 16 7.8 Protecting your privacy 31
4.6 Standard Risk Measure 16 7.9 Third party authority form 31
4.7 Investment performance 17 7.10 Authorised representative form 31
4.8 Investment manager monitoring 17 7.11 Further information 32
4.9 Socially responsible investing 17
4.10 Account valuation 17
4.11 Switching 17

5. Fees and costs

5.1 Fees and costs summary 18
5.2 Fee rebates for low balance members 19
5.3 Cost of product for 1 year 19
5.4 Changing the fees 20
5.5 Additional explanation of fees and costs 20
5.6 Defined fees 23

ii Engineering Super Reference Guide

The information in this document forms part of the Engineering Super (the Fund) Product Disclosure Statement (PDS)
dated 22 November 2023 and will remain in force unless withdrawn by the Trustee. This PDS comprises 2 parts:
▪ Part 1 – PDS
▪ Part 2 – Reference Guide

Important Information
The Fund is administered in accordance with the trust deed and rules of the Tidswell Master Superannuation Plan
(ABN 34 300 938 877; RSE R1004953). The Fund is a regulated and complying super fund. Diversa Trustees Limited
(ABN 49 006 421 638, AFS Licence No. 235153, RSE Licensee L0000635) (Public Officer), is the issuer and trustee of
the Fund and is responsible for the contents of this Reference Guide (Guide).
The Founder and Promoter of the Fund is Professional Superannuation Management Pty Ltd (ABN 31 617 160 791;
AFSL No. 499786).
The information provided in this Guide is general advice only and does not take into account your personal financial
situation or needs. You should obtain financial advice tailored to your personal circumstances.
The information in this Guide may be updated or replaced at any time. Updated information that is not materially
adverse is available free of charge at www.engineeringsuper.com.au or by calling 1300 001 168 or emailing us at
[email protected].

Significant benefits and risks

When you open an account you become a member of the Fund. You can become a member of the Fund while your
super is in the ‘accumulation’ phase. Investing in the Fund assists you to save for the future in a tax effective
environment.
The Trustee wants to make the following information clear to you:
▪ The Trustee relies on a number of third parties for the provision of specialist services in respect of the Fund.
▪ The performance of the Fund, the repayment of capital or any particular rate of return is not guaranteed by the
Trustee, the Promoter, the investment manager, advisers, service providers or any of their associates. Investment
markets do fluctuate. If the investment option you choose is not right for you, you may not achieve the goals you
set. The Trustee recommends that you consult a licensed financial adviser to assist you in constructing an
investment strategy specifically suited to your circumstances.
▪ You should be aware that if you leave the Fund within a few years of joining, you may get back less than the
amount of contributions paid in because of the level of investment returns earned by your investment option in the
Fund, the fees and charges deducted from your account and the impact of tax.
▪ This Guide is based on current laws, including laws affecting superannuation, and may change at any time.

Who should read this document?

The information in this Guide is relevant to everyone who wants to open an account with the Fund.
Read this Guide together with the PDS to make sure you understand all about the benefits, features, costs and risks
of investing in the Fund.
You can obtain a copy of all parts of the PDS from our website at www.engineeringsuper.com.au.
If you need help call Member Services on 1300 001 168 or email us at [email protected].

Engineering Super Reference Guide 1

1. How super works
The purpose of this section is to provide you with important information that you need to know to help you to understand
your super and what you can do to try and help it grow faster.

1.1 Is the Fund for you?

The Fund has been designed specifically for professionals with an engineering educational background, some
affiliation with engineering, or employment in engineering-related industries. We have tailored the experience of the
Engineering Super website for this group.
The Fund may be suitable for you if you require a super product that can grow with you through your professional life.
The Fund can help you grow your super balance. You can increase your super by:
a. making personal contributions;
b. receiving employer super contributions from your own savings or after-tax earnings, including the
compulsory Super Guarantee (SG) contribution your employer must pay (11% as at 1 July 2023);
c. making salary sacrifice contributions from your pay before tax is deducted;
d. receiving contributions from your spouse, and;
e. getting your super organised by consolidating your other superannuation accounts into your Engineering
Super account.
We make it easy for you, your employer and your spouse to add money to your account and grow your account balance.

NEED HELP? It’s strongly recommended that you consult a licensed financial adviser to assist you in
understanding how super works to ensure you can take advantage of the benefits of joining the Fund.
Alternatively, contact Member Services on 1300 001 168 or email us at [email protected]
for information of a general nature.

1.2 When and what money can be added to my superannuation account?

Money can be added to your account right up until you turn 75, whether you are working or not. Once you turn 75,
employer contributions can still be accepted but personal contributions from you or your spouse cannot generally be
added to your super account, unless you are rolling money over from another super fund - this can be done at any time.
There are some limits (known as ‘contribution caps’) that apply when adding money to your super account. For more
information about contribution caps, refer to the information in the table below under ‘Limits’.
The types of money you can add to your account are detailed in the table below.

2 Engineering Super Reference Guide

 CONTRIBUTION TYPE DESCRIPTION LIMITS

Employer In most cases, the law requires your Generally, if you are over 18 years of age your
contributions employer to contribute a percentage of your employer is required by law to make SG
ordinary time earnings (OTE)(1) to your super payments into your super.
(11% in the 2023/24 financial year). This is SG contributions are limited to a maximum
called the Super Guarantee (SG). Your amount payable per quarter based on a
employer may be required to pay more maximum OTE base of $62,270 per quarter.(3)
contributions under an award or other If you’re under 18 years of age, or a private
industrial agreement. domestic worker like a nanny, you must work
To stop the creation of multiple super more than 30 hours per week to be eligible
accounts the Government has introduced a for SG contributions.
system whereby your existing super fund is These types of contributions make up what
‘stapled’ to you when you change jobs. This is referred to as ‘concessional contributions’
means that when you start a new job, your (e.g. contributions that are made before
employer must pay SG contributions to the income tax is deducted). In the 2023/24
same fund you had at your last job, unless financial year the maximum concessional
you take action to make a change. Your contribution that can be made is $27,500.
employer will obtain information about your
existing super fund from the ATO. If you have
never had a super account before you can
choose one, or your employer will create an
account for you with their default fund.
For your employer to start paying the SG into
your account, simply provide the Choice of
Super Fund form to your employer.(2) We will
give you this form when you set up your
account. If you later change employers,
your account with Engineering Super should
be your stapled account, however if there’s
any confusion with your new employer, you
can simply email the form to your employer
via our websites, reprint the form available
online, or call us and we will send you a copy.
You may also be able to organise salary
sacrifice contributions from your before-tax
salary with your employer.

Personal & spouse You and your spouse can make after-tax These types of contributions make up what is
contributions contributions to your account. referred to as ‘non-concessional
contributions’ (e.g. contributions that are
made after income tax is deducted).
The non-concessional contribution cap for
the 2023/24 financial year is $110,000 p.a. If
you are under age 75, you may be eligible to
bring forward two years’ worth of
contribution caps, giving you a cap of
$330,000 over three years. For individuals
with a total superannuation balance greater
than $1.9 million at the end of 30 June of the
previous financial year, any non-concessional
contributions will be treated as excess
non-concessional contributions. See
‘Section 6.4 Tax Payable’ for an explanation
of the taxation of excess non-concessional
contributions. If your balance is greater than
$1.48 million it will affect the ‘bring forward’
amount that is available to you.

Engineering Super Reference Guide 3

 CONTRIBUTION TYPE DESCRIPTION LIMITS

Money from other You can transfer money from your other There are no limits applied to entitlements
super funds super funds at any time by using the Transfer transferred from other complying
My Super feature in the member portal. superannuation funds into your Fund
Before moving your money, you should account.
consider whether you will incur any
withdrawal costs, such as buy/sell spreads in
your other fund/s and how a transfer may
affect any insurance cover or other benefits
you have in your other fund/s.
Before moving your money, you should
consider whether you will incur any
withdrawal costs, such as buy/sell spreads in
your other fund/s and how a transfer may
affect any insurance cover or other benefits
you have in your other fund/s.

Government The Government pays your co-contribution To qualify for the Government co-
co-contributions after: contribution, your total income for the
▪ you have lodged your income tax return; 2023/24 financial year must be less than
▪ your super fund has lodged a Member $58,445 and you must make a personal
Contributions Statement (MCS) for you after-tax contribution into your super
(this is usually done after 1 July and account, and you must:
before 31 October), and ▪ not be a temporary resident;
▪ the Australian Tax Office (ATO) has ▪ be under 71 at the end of the financial
received any additional information that year;
they require, and deem you eligible to ▪ lodge a tax return for the financial year,
receive a co-contribution. and
Once this has been done your co-
▪ have at least 10% of your total income for
contribution should be paid into your super
the financial year coming from
account within 60 days. The ATO will send employment-related activities, carrying
you a letter confirming the details of your co- on a business, or a combination of both.
contribution. The Government will match your personal
contributions at a rate of 50% up to a
maximum of $500 in a financial year (i.e.
based on a personal contribution of $1,000)
provided your annual total income is
$43,445 or less. The Government co-
contribution will reduce by 3 1/3 cents for
every dollar of total income in excess of
$43,445, reducing to nil once your total
income reaches $58,445 in a financial year.
In order to be eligible your superannuation
balance on 30 June of the previous year
must be less than $1.9 million and your non-
concessional contributions cannot exceed
your non-concessional contributions cap for
that year.
You do not need to claim this contribution;
provided you meet the above criteria, the
ATO will determine your entitlement and
remit it to your super account.

4 Engineering Super Reference Guide

 CONTRIBUTION TYPE DESCRIPTION LIMITS

Contributions relating You may contribute certain proceeds from Contributions made from proceeds from the
to CGT small business the disposal of qualifying small business sale of qualifying small business assets
concessions assets. Such a contribution must be made make up what is referred to as your ‘non-
no later than the day you are required to concessional contributions’ (see ‘Personal &
lodge your tax return for the financial year in spouse contributions’) unless they count
which the Capital Gains Tax (CGT) event towards the Capital Gains Tax (CGT) cap
occurred or 30 days after the day you ($1,705,000 in the 2023/24 financial year).
received the capital proceeds, whichever is You should seek professional advice about
later. whether your contributions qualify for the
Where the capital proceeds are received CGT cap.
and contributed in instalments, each
instalment is a separate contribution which
must be made within the above time frames.
You must notify the Trustee when the
contribution is made that you are electing to
use the CGT cap for all or part of the
contribution by providing and completing
the election form from the ATO. You should
seek professional advice about whether
your contributions qualify for the CGT cap.

Downsizing If you are 60 years old or older you may be Contributions can be made from the
contributions into able to make a downsizer contribution into proceeds of the sale of one home and can
superannuation your superannuation from the proceeds of be up to $300,000. Eligibility requirements
selling your home. apply, see the ATO’s website for more
information.

Low Income Super Tax If you earn less than $37,000 in a financial To qualify for the LISTO, your total income
Offset (LISTO) year you may be eligible to receive the Low for the 2023/24 financial year must be
Income Super Tax Offset (LISTO) from the less than $37,000.
Government. The LISTO will be 15% of the You will receive a refund into your super
before-tax contributions you or your account of up to $500.
employer made to your super account
during the financial year (up to $500
annually).
You don’t need to apply for the LISTO. Using
the same information as required for the
Government Co-Contribution, the ATO will
determine your eligibility and, if appropriate,
make an automatic payment to your super
account.

Engineering Super Reference Guide 5

 CONTRIBUTION TYPE DESCRIPTION LIMITS

First Home Super If you are an eligible first home buyer, you To qualify, you must be 18 years of age or
Saver Scheme may be able to use your super account to over, intending to purchase a residential
save for a home deposit through the home or land to build a home on, and not
Government’s First Home Super Saver previously have owned property in Australia.
Scheme (FHSS Scheme). See the ATO’s website for the full eligibility
Voluntary contributions (and associated requirements.
earnings) made into your super account You can contribute up to $15,000 per year,
after 1 July 2017 can be withdrawn and used and $50,000 in total per person. Voluntary
for a first home deposit. contributions include concessional (before-
tax) contributions, such as salary sacrifice
contributions, and non-concessional (after-
tax) contributions, such as making an
additional lump sum payment into super.
The contributions will still count towards the
contribution caps.

COVID Early Release If you received an early release payment The contribution must be made between
Re-Contribution under the provisions for COVID-19, then you 1/7/2021 and 30/06/2030.
are able to re-contribute the amount that The fund must receive an election in a
was paid to you. prescribed format at the same time that the
You do not have to make the contribution to contribution is received. The election form
the same fund that you withdrew from. is available from the ATO’s website.
You cannot contribute more than the total of
the COVID Early Release payment that you
received.
You will not be able to claim a tax deduction
for the contribution.

(1) The definition for ordinary time earnings can be found on the ATO website at www.ato.gov.au.
(2) There may be limited circumstances where your employer is not required to accept your Choice of Super Fund form, such as if you have
already exercised choice in relation to your super in the last 12 months.
(3) This level is indexed each financial year – the base level detailed above applies for the 2023/24 financial year.

For information with respect to the taxation treatment of contributions, please refer to ‘Section 6.1 Tax paid on
contributions’.

1.3 Contribution splitting

If your spouse (including a de facto spouse) is on a low income or not working, you can help build up their super balance
by splitting part of your contributions with them.
You can split up to 85% of your SG amount, salary sacrifice and other concessional contributions, providing your spouse
is under their preservation age (see below), or between their preservation age and age 65 and not retired.
Contribution splitting applies to super contributions only and not to existing balances. You can request to split
contributions once a year (i.e. within 12 months following the end of the financial year), or at the time of leaving the Fund,
in relation to the prior year’s contributions.

6 Engineering Super Reference Guide

1.4 Eligibility rules for accessing superannuation
What are the preservation rules and when can I access my superannuation?
Super is designed so that you cannot access it until you meet a condition of release (see below). In return for tax
concessions, the Government has placed restrictions on when you can access your super benefits. These restrictions
are known as the preservation rules.
Conditions of release1
Access to your super is possible when one of the following has happened:
(a) You reach your preservation age and permanently retire from the workforce*
(b) You reach your preservation age and begin a transition to retirement income stream,
(c) You cease an employment arrangement on or after age 60^,
(d) You reach age 65 (whether or not you have retired), or
(e) You satisfy a condition of early release (see below).
* Permanently retired is defined as never being gainfully employed again for more than 10 hours per week.
^ If you are aged 60 or over and cease one employment arrangement but start or continue in another employment arrangement, you may withdraw all of your
super accumulated up to the date the employment arrangement ceases. Any super accrued after that date will be preserved and cannot be withdrawn
until a fresh condition of release is met.

Your preservation age is 60; unless you were born on 30 June 1964 or earlier, as outlined in the table below:
DATE OF BIRTH PRESERVATION AGE
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
After 30 June 1964 60

If you have reached your preservation age and you are aged less than 60, you will be classified as retired if you do not
intend to become gainfully employed again for ten hours or more per week.
After turning 60, if you leave an employment arrangement, you will be able to access your super benefits, even if you
decide to go back to work.
Early release of all or part of your super may also be permitted in the following circumstances.

WARNING: There could be significant consequences to accessing your super early, for example you may exhaust
your entire super account balance.

1.5 If you suffer permanent incapacity

Permanent incapacity means ill-health (whether physical or mental) which the Trustee is reasonably satisfied makes it
unlikely that you will engage in gainful employment for which you are reasonably qualified by education, training or
experience. If you think this may apply to you, then early release of your super may be allowed.
If you want to make an application for the early release of your super on the basis of permanent incapacity, contact
Member Services on 1300 001 168 or email us at [email protected]. You will then be provided with the
necessary additional forms and details of what evidence you will need to submit to progress your claim.

1
These conditions of release are not available to current or former holders of temporary visas, unless they are permanent residents of Australia, or
citizens of Australia or New Zealand. In addition, under certain circumstances super funds may be required to transfer a temporary resident’s super to
the ATO following their departure from Australia. This may occur when at least six months have passed since the temporary resident’s visa had ceased
to be in effect, they have left Australia and not taken their benefit. If this occurs, the temporary resident may access their benefit from the ATO who
can be contacted on 13 10 20. Additional tax may be payable upon accessing the benefit if you are a temporary resident.

Engineering Super Reference Guide 7

1.6 If you die
Your beneficiaries may access your benefits if you die.
(a) Death Benefit Nomination
It is important to leave clear instructions should the worst happen. The Fund offers you two death benefit
nomination options:
i. a non-lapsing binding death benefit nomination; or
ii. a non-binding death benefit nomination.
You can only make one of the above types of death benefit nomination in respect to your Fund account.
In the event you make both types of death benefit nomination, a binding death benefit nomination will take
precedence over a non-binding death benefit nomination.
You should be aware that different tax laws apply to different beneficiaries. If you are unsure about your decision,
please discuss this with your financial adviser.
Details of your nominated beneficiaries and the type of nomination you have made (if any) will be listed on your
annual member statement.
(b) Non-lapsing binding nomination
If you provide us with a non-lapsing binding nomination that satisfies all legal requirements, subject to our
acceptance of the nomination, we must pay your death benefit to the beneficiary(ies) you have nominated and in
such proportions as you have specified, provided:
i. each nominated beneficiary is a dependant or your legal personal representative at the time of your death; and
ii. your binding nomination is in writing and two persons over 18 years of age who are not nominated beneficiaries
have witnessed you signing your nomination on the same day.
Note: as the binding nomination is non-lapsing, it will remain in place until it is amended or revoked.
(c) Non-binding nomination
If you provide us with a non-binding nomination, your nomination is not binding on the Trustee and only provides a
guide as to how you would like your death benefit to be paid, provided:
i. each nominated beneficiary is a dependant or your legal personal representative at the time of your death;
ii. you have not married, entered a de facto or like relationship with a person of either sex or permanently
separated from your spouse or partner since making your nomination; and
iii. your non-binding nomination has not been revoked and is not defective for any reason.
It is important to note that a non-binding nomination will not override a previous, valid non-lapsing binding nomination
made by you. If you have already made a non-lapsing binding nomination you must revoke it first and then make a non-
binding nomination.
Download and complete the ‘Beneficiary Nomination’ form from the website www.engineeringsuper.com.au or find
out more by calling Member Services on 1300 001 168 or email us at [email protected].

1.7 If you have a terminal medical condition

A terminal medical condition is defined as an illness or injury that two registered medical practitioners have certified
(either jointly or separately) that you suffer from and that it is likely to result in your death within a period that ends not
more than 24 months after the date of certification. At least one of the registered medical practitioners making the
certification must be a specialist practising in an area relating to the illness or injury suffered by you. If you want to make
an application for early release of your super on the basis of a terminal medical condition, contact Member Services on
1300 001 168 or email us at [email protected].

1.8 You are experiencing severe financial hardship

If you are having difficulty meeting reasonable and immediate family living expenses and are receiving Commonwealth
income support payments, you may qualify for the early release of part of your super on the basis of severe financial
hardship. If you want to make an application for the early release of your super on the basis of severe financial
hardship, contact Member Services on 1300 001 168 or email us at [email protected].

8 Engineering Super Reference Guide

1.9 Compassionate grounds
You can apply through the Australian Taxation Office (ATO) for the early release of part of your super on compassionate
grounds. This may be considered to cover expenses incurred by you or your dependants relating to:
a. a serious medical condition;
b. the prevention of the forced sale of your home by your mortgagee;
c. the modification of your home or vehicle to accommodate a severe disability;
d. palliative care; or
e. funeral expenses for a dependant.
The amount of super that can be paid to you on compassionate grounds is limited to what is reasonably needed to cover
the relevant expense. If you want to make an application for the early release of your super on compassionate grounds,
contact Member Services on 1300 001 168 or email us at [email protected].

1.10 Departing Australia Superannuation Payment (DASP)

To qualify for a DASP, you need to have worked in Australia while visiting on an eligible temporary resident visa. You can
have your super paid to you once you leave Australia and your temporary resident visa has expired or been cancelled.
More information, including eligibility criteria, is available from the ATO’s website.

1.11 As a first home saver

If you have made voluntary contributions to your account since 1 July 2017, you can apply to the ATO to have these funds
released to use to purchase a home. More information, including eligibility criteria, is available from the ATO’s website.

1.12 Trans-Tasman Portability Scheme

The Fund participates in the Trans-Tasman Portability Scheme, which means that we accept retirement savings transferred
from New Zealanders moving permanently or indefinitely to Australia, and can transfer your super account to New Zealand
if you are moving there permanently. See the ATO’s website for the full eligibility requirements and transfer rules.

NEED HELP? It’s strongly recommended that you consult a licensed financial adviser to assist you in
understanding how super works to ensure you can take advantage of the benefits of joining the Fund.
Alternatively, contact Member Services on 1300 001 168 or email us at [email protected]
for information of a general nature.

1.13 Payment benefits

Requests to rollover benefits to another complying superannuation fund will normally be processed within 3 business
days of our receipt of your request.
Payments out of the Fund to you will only be made by Electronic Funds Transfer (EFT) to an account held in your name
with an Australian financial institution. No cheque payments will be made.

Engineering Super Reference Guide 9

2. Benefits of investing with the Fund

2.1 Simplified, low cost super

Superannuation can be complicated and overwhelming.
The Fund has been designed to simplify superannuation, helping you get your super organised from the start.
Our fee structure has been designed to preserve your early contributions and avoid fees eroding your account.
The Fund has a limited number of investment options on offer, making it easier for you to make a decision.

2.2 Keeping your super organised

The Fund provides you with:
a. Help to combine your old super accounts,
b. A ‘Tell My Employer’ feature which makes it easy to bring your account with you when you change jobs, and
c. The ability to check if your employer has paid your super via our website.
Help when you need it
Our team are available to help you manage your account and answer questions on super in general. You can contact
us at [email protected] or on 1300 001 168.

2.3 Loyalty discount program

We think members who stay with the fund should be rewarded for their loyalty!
The Fund's loyalty discount program provides eligible members with a fee discount based on the number of years
that you have been a financial member of the Fund. A financial member means a member that has an account
balance above $0.
You’ll automatically be enrolled in the program as soon as your account balance reaches $1,000. If your balance falls
below $1,000 for any reason in the future, you still keep your discount level.
Our loyalty discount program has seven membership levels with the fee discounts increasing over time.
The discount is calculated off your percentage-based admin fee.
Once you reach each membership level, as long as you remain a member of the fund for the next 12 months, the
loyalty discount will be paid as a small refund to your account at the end of each 12 month period.
Here are the seven membership levels, showing the reduced percentage-based admin you will pay, as well as what
the level of discount is, calculated from the full percentage-based fee:

YOUR DISCOUNT CALCULATED

LEVEL YEAR % BASED ADMIN FEE
FROM FULL % BASED ADMIN FEE
Normal % based admin fee 0 0.9260% 0%
Bronze 1 0.9075% -2.00%
Bronze Plus 2 0.8893% -3.96%
Silver 3 0.8715% -5.89%
Silver Plus 4 0.8541% -7.76%
Gold 5 0.8370% -9.61%
Gold Plus 6 0.8203% -11.42%
Platinum 7 0.8039% -13.19%
Note:
1. The discount is calculated at each membership level as an additional 2% discount off your percentage-based admin fee.
2. In this table, for ease of display, the “percentage-based fee” column rounds the percentages displayed to 4 decimal places. The “Your discount”
column rounds the percentages displayed to 2 decimal places. The actual amounts can therefore differ very slightly as a result of this rounding.
3. The effect of the percent sign: It is important to remember that 0.92% is very different to 0.92. These numbers are 100 times different in size.
When you add the “%” symbol, the number expressed as a decimal is 0.0092.
4. Percentage discounts off percentage-based fees can be confusing. Refer to the table to ensure you understand how the discount is calculated.

10 Engineering Super Reference Guide

3. Risks of Super
All investments carry some level of risk, including superannuation investments. It is important to understand what these
risks are. The Fund invests in different types of assets including Australian shares, international shares, fixed interest,
alternatives, property and cash.
These asset classes all behave differently over time and inherently have different levels of risk.
TYPE OF ASSET CLASS DESCRIPTION OF ASSET CLASS

Cash Cash is typically defined as short term fixed interest securities with a maturity date of
less than one year. Cash investments offer a low level of risk but are likely to provide
the lowest return of all asset classes over the long term.

Fixed interest Fixed interest investments are monies invested in debt securities issued by
governments, banks or corporations and are exposed to the credit risk of the issuer of
the securities. Fixed interest securities typically pay interest at specified dates and
repay the principal amount at maturity. Fixed interest securities typically trade in
secondary markets. Tradeable fixed interest securities that are priced daily show some
volatility but of a lesser magnitude than property or shares.

Alternative assets Alternative assets include market neutral funds, hedge funds, private equity,
commodities and infrastructure. Hedge funds use specialist investment strategies that
may include shorting, deal arbitrages and exploiting pricing discrepancies. Private
equity refers to investments made in companies not listed on a stock exchange.
Infrastructure investments include utilities and other essential services such as
transportation, water distribution and oil pipelining. Alternative assets are expected to
have a pattern of returns that differ from traditional assets and thus they are expected
to provide diversification. Some alternative assets potentially provide relatively stable
returns across economic and investment market cycles. Some alternative investments
are unlisted and hence are less liquid than listed investments.

Property (including property Investment in property either directly or via property trusts and managed property
trusts) funds is typically an investment in commercial, retail, industrial, hotel and residential
real estate. Property investments offer returns based on property valuations and a
rental income stream. Property trusts can be either listed (i.e. a security tradeable on a
stock exchange) or unlisted. Returns rely on general economic factors like inflation,
interest rates and employment, as well as location and quality. As a result, property
returns are cyclical and relative to fixed interest and cash, property investments have a
higher potential return and also carry a higher risk of negative returns over the shorter
term. Direct or unlisted property investments are less liquid than trusts which trade on
a stock exchange. In some market environments, it may not be possible to redeem
from direct property on demand.

Shares Shares represent part ownership of a company. Shares are typically divided into:
▪ Australian based companies; and
▪ international companies.
Owning shares can provide both capital growth and income in the form of dividends.
Shares that are listed or traded on a stock exchange fluctuate in price whenever there
is a trade. The price can move considerably and frequently over the course of a day
reflecting changes to general economic factors such as inflation, interest rates and
changes in market conditions together with sentiment and the performance of the
company itself. Share investments offer a high level of risk and high potential return
over the long term compared to cash, fixed interest or property.

Liquidity The risk that a lack of demand for an investment makes that investment harder to sell
when you want to sell that investment. By way of example, direct investments in the
property market have greater liquidity risk in comparison to listed property trusts or the
share market.

Legislative The risk that the Government may change laws or regulations which may impact the
value of your investments or when you are able to access your funds.

Market sentiment The risk that economic or political factors may trigger a change in the value of your
investment.

Engineering Super Reference Guide 11

 TYPE OF ASSET CLASS DESCRIPTION OF ASSET CLASS

Political risk The risk that political change may affect the taxation or value of certain assets held.

Specific (or individual The risk that a particular asset in which an investment manager invests may fall in value
investment) due to factors specific to the asset, such as changes to the internal operations of a
company. Specific risk is managed by holding a diversified portfolio of assets within
one fund.

The investment options offered by the Fund each have a different mix of these asset classes. The level of risk and the
returns will depend on the assets each investment option invests in. Assets with the highest long term returns may also
carry the highest level of short term risk.
The level of risk that is acceptable to you will vary depending on a range of factors, including your age, your investment
timeframe, your risk tolerance and what other investments you hold. You should assess your personal situation carefully
before choosing an investment option.
Please note that none of the performance of the Fund, the repayment of capital or any particular rate of return
is guaranteed by the Trustee, the Promoter, the investment manager, advisers, service providers or associated
companies of the parties mentioned in this Reference Guide. Investment markets do fluctuate, and past
investment performance should not be taken as an indication of future performance. If the investment option
you choose is not right for you, you may not achieve the goals you set.

3.1 Some key investment principles

In considering the investment options, matching your time horizon with appropriate investments is critical. You should
note the suggested minimum timeframe for each investment option.
Typically, higher potential returns from investments are compensation for taking on greater risk. The time in an investment
is an important dimension in assessing risk.
Risk factors such as the risk of capital loss and erosion of returns from inflation are influenced by the type of investment
or asset class and the length of time that the investment is held. Each asset class has a different level of expected risk
and return as outlined below.

3.2 Diversification
Diversification means spreading investments across different asset classes, investment managers and investment
strategies. The aim is to reduce the overall portfolio risk. A well-diversified portfolio smooths out the returns from the
component investments.
A diversified investment portfolio typically falls into one of three categories:
a. growth oriented - invests mainly in assets aiming to provide a higher return but with higher risk. Typically asset
classes include shares, property and some types of alternative assets.
b. growth and defensive mix - invests in a mix of all major asset classes aiming to deliver a moderate return with a
moderate risk level.
c. defensively oriented - invests mainly in assets aiming to provide a modest return with lower risk. Typically asset
classes include fixed interest, some types of alternative investments and cash. Defensively oriented portfolios may
also include some growth assets.

12 Engineering Super Reference Guide

3.3 Investment risk
Risk is an inevitable part of investing. Even money sitting in the bank is not entirely without risk. All investors face a
number of investment risks. Many factors influence an investment’s value. These include but are not limited to:
TYPE OF RISK EXPLANATION OF RISK

Asset class The risks that affect each individual asset class. There are five broad asset classes and
the risks that typically impact each of these classes are discussed at the start of
‘Section 3 Risks of Super’.

Compliance The risk that the Fund will lose its complying status and therefore lose its associated
tax concessions. We manage this risk by ensuring that the Fund is administered
professionally and that it operates in accordance with the requirements of the Trust
Deed and super law.

Credit The risk that an investment option may be affected by another party defaulting on its
loan obligations.

Exchange The risk that increases and decreases in the currency of countries in which an
investment option invests may affect the value of your investment.

Fraud The risk that fraudulent activities may impact on, or reduce, your benefits. The Trustee
manages this risk by ensuring that the investment managers are insured and by
putting controls and safeguards in place.

Inflation The risk that inflation may exceed the return on an investment.

Interest The risk that changes in interest rates may have an impact on the value of your
investments.

Liquidity The risk that a lack of demand for an investment makes that investment harder to sell
when you want to sell that investment. By way of example, direct investments in the
property market have greater liquidity risk in comparison to listed property trusts or the
share market.

Legislative The risk that the Government may change laws or regulations which may impact the
value of your investments or when you are able to access your funds.

Market sentiment The risk that economic or political factors may trigger a change in the value of your
investment.

Political risk The risk that political change may affect the taxation or value of certain assets held.

Specific (or individual The risk that a particular asset in which an investment manager invests may fall in value
investment) due to factors specific to the asset, such as changes to the internal operations of a
company. Specific risk is managed by holding a diversified portfolio of assets within
one fund.

Any investment you choose may be exposed to any one or more of the above risks and these risks need to be
considered when determining the investment strategy that is best for you.
The aim of super is to deliver sufficient funds for your retirement. Saving for retirement is a long-term strategy that
generally takes the best part of 10, 20, 30 or more years to realise, which is why the performance of your super
should be judged over the long term.
It’s important not to focus on the returns made in a single year. Instead, try to ride the market’s short-term highs and
lows and stick with your long term investment plans to reach your objectives.
We recommend that you seek professional financial advice to determine which investment option best suits you.

Please note that none of the performance of the Fund, the repayment of capital or any particular rate of return
is guaranteed by the Trustee, the Promoter, the investment manager, advisers, service providers or associated
companies of the parties mentioned in this Reference Guide. Investment markets do fluctuate, and past
investment performance should not be taken as an indication of future performance. If the investment option
you choose is not right for you, you may not achieve the goals you set.

Engineering Super Reference Guide 13

4. How we invest your money
The Fund offers members the choice to invest in any one of the following three investment options:
a. High Growth
b. Growth
c. Balanced
All of the underlying investments within these investment options are collective investment vehicles.
From time to time the Trustee may make changes to the investment options, including the options available and the
types of assets held by each option. Members will be notified of significant changes.

4.1 Investment options

The tables below provide information about each investment option, in order to assist you to choose the investment
option which best suits your financial situation, objectives and needs.

4.3 High Growth Investment Option

This option is designed for those who are prepared to accept a high level of risk for
Key Features the potential to achieve greater returns over the longer term. As a result, the value
of your investment may rise or fall in the short term.
The High Growth investment option has a very strong bias towards growth assets
Investment Strategy such as Australian and international shares and property, with a much smaller
allocation towards defensive assets.
Investment Objective To outperform CPI + 3.00% p.a. over rolling 10-year periods.

STRATEGIC ASSET ASSET ALLOCATION

ASSET CLASS
ALLOCATION RANGE
Australian Shares 43% 10-70%
International Shares 43% 10-70%
Mix of Asset Classes Australian Property 5% 0-20%
International Property 5% 0-20%
Global Infrastructure 4% 0-20%
Fixed Income 0% 0%
Cash 0% 0%

Minimum Suggested Investment

10 years
Time Horizon

Level of investment risk: Level 6

Expected return and risk profile: High
Standard Risk Measure
Estimated number of negative annual returns over any 20 year period:
4 to less than 6.

14 Engineering Super Reference Guide

4.4 Growth Investment Option
This option is designed for those who are investing over the longer term and are
prepared to accept a higher level of risk for the potential to achieve greater returns.
Key Features
This option is designed to provide comparable levels of risk to the High Growth
option, and potentially higher returns than the Balanced option.
The Growth investment option has a strong bias towards growth assets such as
Investment Strategy Australian and international shares, and property, with a smaller allocation towards
defensive assets.
Investment Objective To outperform CPI + 3.00% p.a. over rolling 10-year periods.

STRATEGIC ASSET ASSET ALLOCATION

ASSET CLASS
ALLOCATION RANGE
Australian Shares 40% 20-50%
International Shares 41% 20-50%
Mix of Asset Classes Australian Property 3% 0-20%
International Property 3% 0-20%
Global Infrastructure 3% 0-15%
Fixed Income 9% 0-20%
Cash 1% 0-15%

Minimum Suggested Investment

10 years
Time Horizon

Level of investment risk: Level 6

Expected return and risk profile: High
Standard Risk Measure
Estimated number of negative annual returns over any 20 year period:
4 to less than 6.

Engineering Super Reference Guide 15

4.5 Balanced Investment Option

This option is designed for those who are seeking growth but who wish to lower the
risk of rapid changes in value over the short term. This option is designed to provide
Key Features
lower levels of risk than the High Growth and Growth options, which may in turn
produce lower levels of returns.

The Balanced option has a moderate bias towards growth assets such as Australian
Investment Strategy and international shares and property, balanced by an allocation towards defensive
assets such as fixed interest securities and cash.

Investment Objective To outperform CPI + 2.50% p.a. over rolling 7-year periods.

STRATEGIC ASSET ASSET ALLOCATION

ASSET CLASS
ALLOCATION RANGE
Australian Shares 32% 20-45%
International Shares 30% 15-40%
Mix of Asset Classes Australian Property 2% 0-20%
International Property 3% 0-20%
Global Infrastructure 3% 0-15%
Fixed Income 25% 0-35%
Cash 5% 0-35%

Minimum Suggested Investment

7 years
Time Horizon

Level of investment risk: Level 6

Expected return and risk profile: High
Standard Risk Measure
Estimated number of negative annual returns over any 20 year period:
4 to less than 6.

4.6 Standard Risk Measure

When determining the risk level of the investment option, the Trustee has adopted the Standard Risk Measure approach.
The Standard Risk Measure is based on industry guidance to allow you 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 you may require to meet
your objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a
negative return.
You should ensure that you are comfortable with the minimum suggested time horizon and risks associated with your
chosen investment option.
The Standard Risk Measure is set out in the table below.

RISK BAND RISK LABEL ESTIMATED NUMBER OF NEGATIVE ANNUAL 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

16 Engineering Super Reference Guide

4.7 Investment performance
To view the most recent investment performance information for each of the investment options, please visit
www.engineeringsuper.com.au/performance.
Please note that while historical performance shows how an investment option has performed in the past, it is not an
indication of how it may perform in the future. Performance of an investment option may vary over time.

4.8 Investment manager monitoring

The Trustee utilises the investment expertise of an experienced investment manager.
The Trustee maintains ongoing monitoring of the investment manager to ensure its actions and the consequential
performance of the Fund’s investment options continue to be in line with expectations.

4.9 Socially responsible investing

The Fund's underlying investment managers each have their own policy on the extent to which labour standards or
environmental, social or ethical considerations are taken into account when making investment decisions.
Whether a manager has such a policy, or the contents of such a policy, is not considered by the Trustee when selecting
an investment or monitoring investment managers. Further, we do not currently require the investment managers we
appoint to take any such considerations into account when making their investment decisions.

4.10 Account valuation

Your super account balance is made up of a number of units in your investment option. A unit provides a measure of your
share of the investment option. It’s determined by dividing the net assets of your investment option into units of equal
value. Units are not transferrable. The Fund’s investment options are valued weekly and this determines the value of your
account. The value of your account is affected by changes in the value of the Fund’s assets and liabilities, the fees and
costs charged to your account, any provision for taxation charged to your account, the contributions made into your
account, the withdrawals and transfers made from your account and any provision against your account to meet any Fund
liabilities.
Once the investment option is valued, a price is determined for the units in the investment option. That price is used
when contributions, withdrawals or transfers are made to and from your account, in order to determine the number of
units to be issued or redeemed.
Where a discrepancy exists between the allocation or redemption of units and the amount to be paid or received , the
Trustee may issue or redeem a fraction of a unit as appropriate. A fraction of a unit is equal to the value of the proportion it
represents of the unit as a whole.
For example, when you make a contribution, units in the investment option your account is invested in are allocated at the
buy price. Accordingly, when you make a withdrawal, the appropriate number of units are redeemed by the investment
option at the given sell price.
When processing contributions, withdrawals or transfers, the price used will be allocated on a forward pricing basis and
will be held for processing until the next price is available. Full or partial member exits will be based on the last available
price calculated prior to the exit request being received.
An instruction to switch between investment options will be allocated on a forward pricing basis and will be held for
processing until the next unit price is available. This is to prevent members of the Fund taking advantage of market
movements to the detriment of other members.
A buy-sell spread fee will also be applicable to any contribution, withdrawal or transfer we process on your behalf. The
buy-sell spread is an adjustment to the unit price of the investment option so that there is a difference between the entry
and exit price, in order to recover the costs associated with actioning the transaction request.

4.11 Switching
An instruction to switch between investment options will be allocated on a forward pricing basis and will be held for
processing until the next unit price is available. There are no administration charges levied with respect to investment
switches.
However a buy-sell spread will apply when investment switches are processed using the selling (or exit) price of units
being sold and the buying (or entry) price of units being purchased. A buy/sell price differential is representative of the
transactional costs to members of the buying and selling of units.

Engineering Super Reference Guide 17

5. Fees and costs
The information in this section shows fees and other costs that you may be charged. These fees and costs may be
deducted from your account balance, from the returns on your investment, or from the assets of the Fund as a whole.
Other fees, such as activity fees, may also be charged, but these will depend on the nature of the activity chosen by
you. Entry and exit fees cannot be charged.
All fees and costs are shown gross of income tax or contribution taxes (but including GST and any applicable stamp
duty). We do not reduce fees by any income tax deduction we or an interposed vehicle may be able to claim.
Taxes are set out in Section 6 - How super is taxed of this Guide.
You should read all the information about fees and costs because it is important to understand their impact on your
investment.

TO FIND OUT MORE: If you would like to find out more, or see the impact of the 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.

5.1 Fees and costs summary

The fees and costs below apply for members invested in the High Growth, Growth or Balanced investment options.

TYPE OF FEE OR COST AMOUNT HOW AND WHEN PAID

Ongoing Annual Fees and Costs(1)

Administration fees $78 p.a. ($1.50 per week) The dollar based fee is deducted directly from your account
and costs balance monthly in arrears.
Plus The percentage-based fee is deducted weekly from the assets of
0.926% p.a. the Fund. This fee is not deducted directly from your account.

Plus Deducted from the Fund’s Expense Reserve throughout the year
0.321% p.a. and not directly from your account. This is not an additional cost
to your account, but it is required to be disclosed.

Investment fees and Balanced 0.063% Deducted from the investment returns of the
costs(2) underlying investments.(3)
Growth 0.033%
This fee is not deducted directly from your account.
High Growth 0.022%
Transaction costs(4) Balanced 0.00% Transaction costs incurred when assets are bought or sold, shown
net of amounts received by the buy-sell spread charged. Deducted
Growth 0.00%
from investment earnings before the unit price is determined.
High Growth 0.00% This cost is not deducted directly from your account.

Member Activity Related Fees and Costs

Buy-sell spread(5) Balanced 0.120%/ Deducted on a transactional basis every time units in an
0.126% investment option are bought and sold, and is reflected in the
unit price.
Growth 0.115%/
0.122% The buy-sell spread is subject to change.

High Growth 0.115%/

0.124%

Switching fee Nil Not applicable.

Other fees and costs Refer to the Reference Other fees and costs may apply. Refer to the “Additional
Guide for other fees and Explanation of Fees and Costs” below for more detailed
costs information.

18 Engineering Super Reference Guide

 (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, certain fees and
costs charged to the account in relation to administration and investment are capped at 3% of your account balance. Any amount charged in excess
of that cap must be refunded.
(2) Investment fees and costs includes an amount of 0.00% performance fees. Information about performance fees is set out in the ‘Additional
explanation of fees and costs’ below.
(3) Disclosed investment fees and costs of the underlying investments are based on the expenses incurred over the previous financial year. As a result,
these figures are indicative only and may change in subsequent years depending on (for example) the performance of the investment option. These
costs are deducted by the underlying investment managers.
(4) Disclosed transaction costs are an estimate based on transaction costs incurred in the previous financial year. As a result, these figures are indicative
only and may change in subsequent years.
(5) The buy-sell spread is a mechanism to recover transaction costs incurred by the Trustee in relation to the purchase or sale of assets when money
moves into, or out of an investment option. The buy-sell spread may change without notice to meet changes in the transaction costs, including in
circumstances of adverse market conditions. If there is a change to the buy-sell spread, we will let you know within 3 months of the change taking
place.

5.2 Fee rebates for low balance members

The Fund’s fee strategy has been designed to protect your balance when you are starting out with superannuation.
Percentage-based investment and administration fees and costs for members with balances under $1,000 are rebated
back to members at the end of each month using your month end account balance. The percentage-based investment
and administration fees and costs rebate might be lower or higher than the actual fees charged via the unit price, as fees
are deducted weekly. Members with balances less than $1,000 also do not pay the dollar-based administration fee.

5.3 Cost of product for 1 year

The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your
superannuation investment over a 1-year period, for all superannuation products and investment options. It is calculated in
the manner shown in the Example of Annual Fees and Costs in the PDS.
The cost of product information assumes a balance of $50,000 at the beginning of the year. (Additional fees such as a
buy-sell spread may apply: Refer to the Fees and Costs Summary above.)
You should use this figure to help compare superannuation products and investment options.
The Cost of Product shown in the table below also includes costs paid for using the Fund’s reserves and costs paid for by
third parties. You do not pay for these types of costs from your account and these types of product costs will not reduce
your account balance. These product costs are included in this table because we are required to disclose the Cost of
Product in this way.
NAME OF INVESTMENT OPTION COST OF PRODUCT*
Balanced $733.00
Growth $718.00
High Growth $712.50

Note: Additional fees may apply.

* The actual cost will depend on your account balance.
The costs deducted from your account as set out in the table below includes additional information to show which costs
are charged to you, and which costs are paid from reserves and by third parties. This table also assumes a balance of
$50,000 at the beginning of the year and is calculated in the manner shown in the Example of Annual Fees and Costs as
contained in the PDS.

Engineering Super Reference Guide 19

Costs deducted from your account
NAME OF ADMINISTRATION FEES INVESTMENT TRANSACTION COST OF PRODUCT COST
INVESTMENT AND COSTS FEES AND COSTS CHARGED
OPTION COSTS TO YOU

CHARGED MET FROM

TO YOU RESERVES*
Balanced $541.00 $160.50 $31.50 $0.00 Cost of product $733.00 $572.50
less costs paid of
reserves ($160.50)
equals costs to be deducted
from your account: $572.50

Growth $541.00 $160.50 $16.50 $0.00 Cost of product $718.00 $557.50

less costs paid of
reserves ($160.50)
equals costs to be deducted
from your account: $557.50

High $541.00 $160.50 $11.00 $0.00 Cost of product $712.50 $552.00

Growth less costs paid of
reserves ($160.50)
equals costs to be deducted
from your account: $552.00

The actual cost will depend on your account balance.

* Deducted from the Fund’s Expense Reserve throughout the year and not directly from your account.
Although it is not an additional cost to you, it is required to be disclosed.

5.4 Changing the fees

The Trustee may increase the fees set out below each financial year by the Consumer Price Index (CPI) weighted average
for all Australian capital cities with effect from 1 July each year. The CPI each year will represent the percentage change from
the corresponding June quarter of the previous year for the weighted average of eight capital cities. The Trustee will not
increase fees in excess of CPI without 30 days’ prior written notification to you (other than Government fees and taxes).

5.5 Additional explanation of fees and costs

TYPE DESCRIPTION

Administration fees and costs In the 2022/2023 financial year, in relation to the Fund as a whole, an amount
met from reserves representing 0.321% of average account balance was deducted from the
Expense Reserve. This amount does not impact or reduce your account balance.
It is based on actual information from the previous financial year. The costs
payable from the Expense Reserve in respect of each future years may be higher
or lower.

Advice fee The Fund does not pay commissions to financial advisers. Phone based general
advice and information to members about their Fund account is provided at no
additional cost. Advice provided is general in nature only and does not take into
consideration your personal circumstances. If you engage a financial or tax advisor,
fees may be payable as set out in the advisor’s Statement of Advice. The Trustee
does not permit adviser fees to be deducted from member balances in relation to
this product.

20 Engineering Super Reference Guide

 TYPE DESCRIPTION

Buy-sell spread Investment managers may impose different buying and selling prices in respect of
the investments they manage. The buy-sell spread is the difference between the
buying and selling price of a unit. Its purpose is to recover costs associated with the
buying and selling of investments.
The buy-sell spread is incurred at the time of buying or selling units and is an
additional cost to you.
The Fees and Costs Summary (above) discloses the buy-sell spread for each
investment option. The Trustee will be both buying and selling units in investments
on the same day and intends to deal as a net buyer or seller of units on a given day.
As a result, you may incur a buy-sell spread that is less than the buy-sell spread
quoted.

Fee cap for low balances A member with an account balance of less than $6,000 on the last day of the
financial year that the member holds an account balance with the Fund (i.e. 30
June or earlier if the member exits the Fund) (‘relevant date’) will not pay more than
3% of the balance of their account on the relevant date in capped fees and costs
over the year.
If the total amount of capped fees and costs charged to a member is more than
3% of the account balance on the relevant date, the Trustee must refund the
difference to the member’s account within three months of the end of the Fund’s
income year or when the member exits.
Capped fees and costs include the investment fees and the administration fees.

Goods and services tax (GST) All fees and charges quoted are inclusive of GST (where applicable). The Fund is
entitled to claim reduced input tax credits on certain fees and costs and these are
retained in the Fund.

Holding account and Interest earned on contributions or rollovers before their allocation to your account, or
Interest earned in cases where allocation is not possible, and the amount is returned, will be retained in
the Fund's Expense Reserve. The Expense Reserve is utilised to cover fund-related
expenses and to benefit the members of the fund.
Operational risk reserve Superannuation legislation requires the Trustee to maintain a financial reserve to
cover potential losses to members arising from an operational risk event. An
Operational Risk Financial Reserve (ORFR) has been created for this purpose. An
operational risk is the risk that the Fund may suffer loss due to inadequate or failed
internal processes, people and systems, or from external events. The ORFR is
currently maintained at 0.25% of funds under management. Some of the fees and
costs charged to members help to maintain this reserve.

Other fees The Trustee will pay the routine expenses of the Fund (including, but not limited to
custody, accounting and audit) out of the Administration Fee. However, if the Trustee
should incur extraordinary expenses which have not been anticipated by the Trustee
when setting the Administration Fee (for example, the costs of any disputes or
litigation or costs imposed by changes in law) those costs may be paid out of the
assets of the Fund. Any extraordinary expenses paid out of the assets of the Fund
will be reflected in the unit price and, consequently, borne by members.

Performance fees An underlying investment manager may be entitled to a performance fee if they
outperform a set target. The Trustee generally avoids investing the Fund with
managers that require a performance fee, however if a performance fee is payable,
we pay this from the Fund’s assets.
Performance fees are generally calculated as an agreed percentage of any
investment performance above an agreed hurdle rate, multiplied by the average
portfolio balance.
The performance fees set out below are a historical average and future fees will
depend on the investment return achieved from year to year, and accordingly, will
vary.
5-year average total performance fee payable in respect of the:
▪ Balanced investment option: 0.00%
▪ Growth investment option: 0.00%
▪ High Growth investment option: 0.00%

Engineering Super Reference Guide 21

 TYPE DESCRIPTION

Tax rebate The Fund may be eligible to claim a tax deduction for certain costs incurred. Where
the Fund is eligible to claim a tax deduction for expenses, the benefits of these tax
deductions are retained by the Fund.

Transaction costs Transaction costs are costs associated with the sale and purchase of assets of the
superannuation entity, other than costs that are recovered by the superannuation
entity charging a buy-sell spread. These costs include costs relating to the
underlying investment managers’ buying and selling of investments and may include
costs such as brokerage, buy- sell spreads of the underlying investments (where
applicable), settlement costs (including settlement related custody costs), stamp
duty on investment transaction costs and clearing costs.
The table below outlines how much of each investment option’s transaction costs
were recovered via the buy-sell spreads. Net transaction costs are an additional cost
to you that was paid from the assets of the Fund. These net transaction costs were
recovered by the buy-sell spread.

Investment Gross Recovered via Net transaction

option transaction cost buy-sell spread cost*
(p.a.) (p.a.) (p.a.)

Balanced 0.031% 0.048% 0.00%

Growth 0.037% 0.093% 0.00%

High Growth 0.038% 0.142% 0.00%

*Where the Buy/Sell Spread Recovery exceeds the Gross Transaction Costs, the Net
Transaction costs figure has been disclosed as nil.

Request for information by a Nil

member

Request for information by a $120 Payable at the time of request by the person who makes the request.
non-member

An order to flag an interest $240 Payable at the time of request by the person who makes the request.

An order to split a benefit $360 Deducted in equal parts from the benefit payment and the retained benefit
unless prior arrangements are agreed to.

Taxation Please refer to the ‘Taxation’ section for the impact of taxation on contributions, fund
earnings and benefit payments.

22 Engineering Super Reference Guide

5.6 Defined fees
TYPE OF FEE DEFINITION

Activity fee 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 administration fees and costs,
investment fees and costs, a buy-sell spread, a switching fee, an advice fee or an
insurance fee.

Administration fees and Administration fees and costs are fees and costs that relate to the administration or
costs operation of the superannuation entity and includes costs incurred by the trustee of
the entity that:
a. relate to the administration or operation of the entity; and
b. are not otherwise charged as investment fees and costs, a buy-sell spread, a
switching fee, an activity fee, an advice fee or an insurance fee.

Advice fee A fee is an advice fee if:

a. the fee relates directly to costs incurred by the trustee of the superannuation
entity because of the provision of financial product advice to a member by:
i. a trustee of the entity; or
ii. another person acting as an employee of, or under an arrangement with, the
trustee of the entity; and
b. those costs are not otherwise charged as administration fees and costs,
investment fees and costs, a switching fee, an activity fee or an insurance fee.

Buy-sell spread A buy-sell spread is a fee to recover costs incurred by the trustee of the
superannuation entity 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 a superannuation entity.

Investment fees and costs Investment fees and costs are fees and costs that relate to the investment of the
assets of a superannuation entity 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 incurred by the trustee of the entity that:
i. relate to the investment of assets of the entity; and
ii. are not otherwise charged as administration fees and costs, a buy-sell spread,
a switching fee, an activity fee, an advice fee or an insurance fee.

Switching fee A switching fee for a superannuation product other than a MySuper product is a fee to
recover the costs of switching all or part of a member’s interest in the superannuation
entity from one investment option or product in the entity to another.

Transaction costs Transaction costs are costs associated with the sale and purchase of assets of the
superannuation entity, other than costs that are recovered by the superannuation
entity charging a buy-sell spread.

Engineering Super Reference Guide 23

6. How superannuation is taxed
The information in this section gives a general overview of the taxation of super. The levels and limits provided within
this section are those set down by the ATO in respect of the 2023/24 financial year. As tax is complex, we always
recommend you seek professional advice as to how the rules might impact you or your beneficiaries.

NOTE: This tax information is of a general nature and based on current laws as at the date of this document.
These laws may change at any time. Please refer to the ATO website www.ato.gov.au for the latest
information.

Tax may be levied on the money in your super account in three ways:
a. when contributions come into your account;
b. on investment earnings in your account; or
c. when funds leave your account.
The tables in this section summarise the various taxes that may be applied to your superannuation fund account.

6.1 Tax paid on contributions

Presently contributions into a regulated superannuation fund such as the Fund are classified as either:
▪ concessional or
▪ non-concessional.

6.2 Concessional contributions

Concessional contributions are before-tax contributions. This means that they are paid from your pre-tax salary (i.e.:
before you are paid). The following more common contribution types are defined as concessional contributions:
a. your own personal contributions for which you claim a tax deduction, and
b. employer contributions (including SG and salary sacrifice).
It should be noted that a number of less common contribution types have not been listed and fall within the definition
of a concessional contribution. We recommend you seek professional advice as to the full impact of these
contribution types.

6.3 Non-concessional contributions

Non-concessional contributions are after-tax contributions. The money is not taxed on the way into your super
account as you have already paid tax on it at your nominal rate. The following more common contribution types are
defined as non-concessional contributions:
a. your own personal contributions for which you do not claim a tax deduction;
b. spouse contributions; and
c. amounts of concessional contributions in excess of the concessional contributions cap.
It should be noted that a number of less common contribution types have not been listed and fall within the definition
of a non-concessional contribution. We recommend you seek professional advice as to the full impact of these
contribution types.

24 Engineering Super Reference Guide

6.4 Tax payable
CONTRIBUTION TYPE CONTRIBUTION CAP TAX BELOW TAX ABOVE
CONTRIBUTION CAP CONTRIBUTION CAP

Concessional The concessional 15% or 30% p.a.(2) to the Excess concessional

contributions (e.g. contribution cap for the extent contributions cause contributions will be
before-tax contributions) 2023/24 financial year is taxable income to exceed included in your
$27,500 p.a. $250,000, if TFN assessable income for the
If your Total supplied.(3) corresponding year and
Superannuation Balance(1) In order to be eligible for taxed at your marginal tax
is less than $500,000 on these concessional tax rate.
30 June of the previous rates, your superannuation
financial year, you may be balance on 30 June of the
entitled to start previous year must be less
accumulating the unused than $1.9 million and your
portion of your non-concessional
concessional contribution contributions cannot
caps from previous years exceed your non-
(up to 5 years’ worth) and concessional contributions
make additional cap for that year.
concessional contributions Under the LISTO scheme,
into your super account. if you earn less than
The first year you can carry $37,000 p.a. you will
forward unused amounts is receive a refund from the
the 2020/21 financial year. Government of up to $500
Unused amounts are of the 15% contributions
available for a maximum of tax you paid on
five years, and after this concessional contributions
period will expire. paid into your super
account.(4)

Non-concessional The non-concessional 0% 47%(5) unless a valid

contributions (e.g. after- contribution cap for the Note: The Fund cannot election is made to
tax contributions) 2023/24 financial year is accept these contributions withdraw. Where you have
$110,000 p.a. unless your TFN is made contributions that
If you are under age 75 you supplied. exceed your non-
may be eligible to bring concessional cap, you can
forward two years’ worth of generally elect to withdraw
contribution caps, giving the excess (plus 85% of
you a cap of $330,000 the associated earnings)
over three years (see the rather than pay the tax.
table in Section 1.2 ‘When
and what money can be
added to my
superannuation account’
for more information).

Spouse contributions Spouse contributions are 0% 47%(5) unless a valid

non-concessional Note: Tax offsets may be election is made to
contributions that count available depending on the withdraw. Where you have
towards the receiving contributing spouse’s made contributions that
spouse’s non- income.(6) exceed your non-
concessional (after-tax) concessional cap, you can
In order to be eligible for
contribution cap ($110,000 generally elect to withdraw
this rebate your spouse’s
p.a.). the excess (plus 85% of
superannuation balance on
the associated earnings)
30 June of the previous
rather than pay the tax.
year must be less than
$1.9 million and they
cannot exceed their non-
concessional
contributions cap for the
relevant financial year.

Engineering Super Reference Guide 25

 CONTRIBUTION TYPE CONTRIBUTION CAP TAX BELOW TAX ABOVE
CONTRIBUTION CAP CONTRIBUTION CAP

Downsizer contributions Not applicable. 0% Not applicable

The downsizer contribution
is considered to be a one-
off non-concessional
contribution, but it will not
count towards your non-
concessional contribution
cap.
The downsizer contribution
can also still be made even
if you have a Total
Superannuation Balance of
more than $1.9 million.

(1) Your Total Superannuation Balance is the total amount that you hold in super in the Australian superannuation system (across multiple accounts in
multiple funds if applicable).
(2) This is in addition to the Medicare Levy of 2% in the 2023/24 financial year.
(3) Non-quotation of TFN (NQTT) tax may be deducted from concessional contributions if a TFN is not provided, at a rate of 34% (including Medicare
Levy). The NQTT can be refunded if a TFN is provided to the Fund in the following three years. For members exiting the Fund, a refund of NQTT is not
available after they have exited.
(4) You don’t need to apply to be eligible for the LISTO. At the end of each financial year, the ATO will receive your Tax Return and a statement from the
Fund listing all of the contributions that have been made to your super account. The ATO will then determine if you are eligible to receive the tax
offset, and the amount of the offset (based on your income and contribution history) and will make a payment directly into your super account.
(5) This is a lifetime limit that is indexed each financial year.
(6) If you are classified by the ATO as a low-income or non-working spouse, and your spouse makes contributions to your super account from their own
super account, your spouse may qualify for a tax offset of up to 18% on up to $3,000 in contributions per year, to their own account balance. The
maximum offset for a year of income is $540.

If you have more than one super fund account, all contributions made to all of your super accounts are added together
and counted towards your contribution caps. We are required to report all contributions to the ATO and the ATO will
determine if you have exceeded the relevant contribution cap.
If it is determined that you have exceeded the contribution cap, the ATO will issue you with a release authority which you
may use to direct the Fund to release the money from your super account, to pay the excess tax directly. Alternatively,
you may pay the excess tax directly to the ATO.
If you do not provide us with your TFN, a higher tax rate may apply to your contributions.
Tax rates and limits may change in future years. Please refer to the ATO website www.ato.gov.au for the latest update
or call Member Services on 1300 001 168 or email us at [email protected].

6.5 Tax on earnings

Your investment earnings within the Fund are taxed up to a maximum rate of 15%, but offsets (tax credits and rebates)
apply which may reduce the effective tax rate. Tax is deducted from investment income before weekly unit prices are
determined and investment returns are applied to your account.

6.6 Tax rebates on tax deductions

The Fund may be eligible to claim a tax deduction for certain costs incurred. Where the Fund is eligible to claim a tax
deduction for expenses, the benefits of these tax deductions are retained by the Fund.

26 Engineering Super Reference Guide

6.7 Tax on payments from super
TAX FREE COMPONENT TAXABLE COMPONENT(1)

Under preservation age 0% 22% or your marginal tax rate,

whichever is lower.

Over preservation age but under 60 0% 0% up to $235,000(2)

17% over $225,000(3)

Over 60 0% No tax is withheld.

(1) This includes the Medicare Levy of 2% in the 2023/24 financial year.
(2) The low-rate cap amount is the limit set on the amount of taxable components of a lump sum that can receive a lower rate of tax. It only
applies to members in this age group. Applicable for the 2023/24 financial year.
(3) Please note that this is a lifetime limit that is indexed each financial year.

Different tax applies to a lump sum paid in accordance with tax laws relating to terminal illness and DASPs. Please refer to
the next table.
TYPE OF BENEFIT PAYMENT TAX FREE COMPONENT TAXABLE COMPONENT
‘NON-PRESERVED’ ‘PRESERVED’

Terminal illness 0% 0%

Departing Australia Superannuation 0% 35%(1)

Payment

(1) 65% if on a working holiday visa.

6.8 Death benefits

Tax relating to a death benefit will depend on whether the benefit is being paid to a dependant or non-dependant,
however note that dependants for tax purposes are different to dependants for superannuation regulatory purposes.
For more information call Member Services on 1300 001 168 or email us at [email protected].
IF DEATH BENEFIT PAID TO: TAX RATE(1)

Dependant, e.g. spouse, child under 18 financial dependant, 0%

person with whom you have an interdependency relationship

Non-dependant 17%

(1) This includes the Medicare Levy of 2% in the 2023/24 financial year.

6.9 Rollover between super funds

Generally, there is no tax payable if you transfer super between Australian super funds, unless the amount transferred
contains an untaxed element, which could occur when rolling your super out of an untaxed public sector fund. We
recommend that you seek advice from a registered tax agent to determine your personal tax obligations.

6.10 Trans-Tasman Portability scheme

Transfers from a KiwiSaver scheme to an Australian super fund, or from an Australian super fund to a KiwiSaver scheme,
are not taxed. It’s also tax free to withdraw funds from your account once you are legally allowed to access them. Any
savings you transfer to an Australian super fund are not deductible as a personal contribution and are not considered
eligible personal contributions for the purpose of receiving the super co-contribution for low-income earners or the
spouse contribution tax offset.

Engineering Super Reference Guide 27

6.11 Partial withdrawals
When you make a partial withdrawal, it is taken proportionally from the tax free and the taxable components of your super
account. You cannot choose to have a partial withdrawal from one particular component.

6.12 Providing your Tax File Number (TFN)

We are authorised to collect your TFN, and to use it for lawful purposes including to administer your super account and to
provide information to the Commissioner of Taxation.
These purposes may change in the future as a result of legislative change. We may disclose your TFN to another
superannuation provider when your benefits are being transferred, unless you request in writing that your TFN not be
disclosed to any other superannuation provider.
You can provide us with your TFN during the online application process.
You do not have to provide us with your TFN, however, if you choose not to, you should be aware that:
a. you may pay a higher rate of tax on your benefits;
b. it may also be more difficult to locate or consolidate your super benefits in the future or to receive benefits;
c. we will be unable to accept personal (after tax) contributions from you; and
d. a higher tax rate may be paid on your concessional contributions. This excess may be reclaimed if you provide us
with your TFN within the same financial year or the following three years.
For more information about TFNs contact Member Services by email at [email protected] or call us on
1300 001 168. You can also contact the ATO on 13 28 61.

28 Engineering Super Reference Guide

7. How to open an account

About your membership

When you join the Fund, we will set up an account in your name and send you an email with your super choice form. You
can keep this form and give it to employers.
We will give you a member number which is unique to your account. It’s important to keep your member number in a safe
place, as you’ll need it to access your personal information via the phone to our Member Services Team.

7.1 How to join

STEP 1 STEP 2
Please read all the documents that make up the Complete the online application process at
Product Disclosure Statement with respect to the Fund. www.engineeringsuper.com.au.

STEP 3 STEP 4
Submit the completed application. You will receive a welcome email confirming
that you're a member of the Fund.

7.2 Cooling-off period

We sincerely trust that the Fund provides all that you need in a super fund. However, you have the right to redeem your
investment and cancel your membership by notifying us during the cooling-off period which ends 14 days after your
application is accepted.
You must nominate another complying super fund, retirement savings account or approved deposit fund to which your
investment will be transferred. Your initial investment amount will be adjusted for any changes in the unit price of the
investment option into which your investment was invested, less any transaction costs.

7.3 Keeping you informed

As a member you’ll receive an annual member statement which will include your account balance and a list of all
transactions made during the financial year.
We will communicate with you via the website, phone, email and post to ensure you get all the information you need.
Copies of all parts of the PDS and other important information can be obtained electronically via the website
www.engineeringsuper.com.au.
If your details change, please update your details via the website, or let our Member Services Team know so that we
can update your records.

7.4 Lost Members and Inactive Low-Balance Accounts

Super legislation requires the Trustee to identify all lost member accounts, and all inactive low-balance accounts, twice a
year, on 30 June and 31 December.
Lost Members
The Trustee will classify you as a lost member if:
a. You are ‘uncontactable’ – the Fund does not have your current address and has been unable to contact you, and
you have not contacted the Fund or had any contributions or rollovers into your account in the last 12 months; or
b. Your account is ‘inactive’ – the Fund has not received a contribution or rollover into your account in the last 5
years.
The Government requires the Fund to treat some lost member accounts as unclaimed money and transfer the balances to
the ATO twice a year, on 30 April and 31 October. This will occur where you have been classified as a lost member and:
a. your account balance is under $6,000; or
b. the Trustee is satisfied that it will never be possible, having regard to the information reasonably available to the
Trustee, to pay an amount to you.
The ATO will work to ensure that your super is consolidated. For more information, please see:
www.ato.gov.au/forms/searching-for-lost-super/.

Engineering Super Reference Guide 29

Inactive Low-Balance Accounts
Your account will be classed as an ‘inactive low-balance account’ if:
a. your account balance is below $6,000; and
b. we have not received a contribution, rollover, or any other sum for crediting towards that account in the
preceding 16 months or more; and
c. you have not changed your investment option, insurance cover, or binding beneficiary nomination in the past
sixteen months; and
d. you have not advised the Fund in writing that you do not want your account to be treated as an inactive low
balance account; and
e. you do not otherwise satisfy a condition of release allowing you to withdraw your super.
Your account can be classified as an inactive low balance account even if you are not considered to be ‘lost’, i.e.
even if the Fund is in contact with you.
The Government requires the Fund to transfer inactive low balance accounts to the ATO. The ATO has 28 days after
receiving the money to reunite you with your money via an active superannuation account (meaning an account that
has received a contribution or rollover from or on your behalf during the current or previous financial year, so long as
the active account will hold a balance of greater than $6,000 following the reunification.
For more information, please see: https://www.ato.gov.au/Individuals/Super/In-detail/Growing-yoursuper/
Inactive-low-balance-super-accounts/.

7.5 Unclaimed benefits

Unclaimed super is different to lost super. In most cases, ‘unclaimed super’ refers to super that is eligible to be
withdrawn from your account, but you have not provided us with any payment instructions and the Fund has been
unable to contact you, despite us making reasonable efforts to do so.
Unclaimed super can include the super of:
▪ a member aged over 65;
▪ a non-member spouse (where a member’s super has been split following breakdown of their marriage or
de facto relationship);
▪ a deceased member;
▪ a former temporary resident; or
▪ a member with a small or insoluble lost member account.
The Fund is required to report unclaimed super accounts to the ATO, and any unclaimed super money is paid to the
ATO. The ATO adds this data to its Superannuation Unclaimed Money Register. You can see any unclaimed super
money that the ATO is holding for you through your myGov account.

7.6 Information for temporary residents

Your super benefit may be transferred as an unclaimed benefit to the ATO if six months have elapsed since you’ve
departed Australia, your visa has expired or been cancelled, and you have not requested payment of your benefit
under the DASP requirements.
A member exit advice will not be provided as the Trustee relies on the relief from the obligation to provide an exit
advice to members whose benefits are compulsorily transferred to the ATO.
However, if contacted, the Trustee will provide you with sufficient information about the payment to allow you to
apply to the ATO to claim your benefit.

7.7 Complaints handling process

We continually strive to provide exceptional service to members. The Trustee has established procedures for dealing
with any inquiries and complaints. If you have an inquiry or complaint you can either call Member Services on 1300 001
168 or chat to our agents via our website during business hours at www.engineeringsuper.com.au, or write to us.

VIA POST VIA EMAIL

The Inquiries and Complaints Officer The Inquiries and Complaints Officer
Suite 4.01, 50 Holt Street [email protected]
Surry Hills NSW 2010

We will confirm receipt of your complaint within one business day and will try to resolve it as soon as possible.

30 Engineering Super Reference Guide

 The Complaints Officer will investigate your complaint and write to inform you of the results of that investigation no later
than 45 calendar days after receiving your complaint (unless the complaint relates to a death benefit distribution, in which
case the Complaints Officer will respond no later than 90 calendar days after the expiry of the 28 calendar day period for
objecting to a proposed death benefit distribution).
If you do not receive a response from us within these timeframes, or are otherwise unsatisfied with the way your
complaint has been handled through our internal complaints handling process, you may be eligible to lodge your
complaint with the Australian Financial Complaints Authority (AFCA).
AFCA is an independent external dispute resolution body that deals with complaints about the decisions and conduct of
financial services providers, including trustees of super funds, that relate to members, but not in relation to decisions and
conduct relating to the management of a fund as a whole. AFCA provides a fair and independent complaint resolution
service that is free to consumers.
AFCA can be contacted through:
Australian Financial Complaints Authority
GPO Box 3, Melbourne VIC 3001
Phone 1800 931 678
Fax (03) 9613 6399
Email [email protected]
Web www.afca.org.au

7.8 Protecting your privacy

The Trustee complies with the Australian Privacy Principles (APPs) outlined in the Privacy Act 1998 (Privacy Act).
The Trustee collects, uses and stores your personal and sensitive information in order to:
a. issue you a superannuation interest (i.e. membership);
b. maintain your super account and invest your super;
c. pay any benefits; and
d. handle inquiries, complaints or claims.
The Trustee may in certain circumstances (e.g. benefit payments and claims handling) disclose personal information
to third parties such as, doctors, lawyers, your spouse (intended, current or former), your adviser or anyone else as
required by law. However, we will only disclose sensitive information with your consent. The Trustee will also disclose
certain details to its mailing house for mail outs or to the regulators, such as the Australian Prudential Regulation
Authority (APRA), the Australian Securities and Investments Commission (ASIC), the Australian Transactions Analysis
Centre (AUSTRAC) and the ATO.
The Trustee will not trade, rent or sell your personal information to any third parties, but we or other related entities
and business partners may use your personal information to tell you about other products and services or offerings
the Trustee, or its related entities or business partners, may provide subject to your right to opt out of any direct
marketing.
You can access your information at any time on the website. You can update your information on the website, or by
calling Member Services. We ask that you do so in relation to any change in your personal information. This will
ensure records are up to date. If you don’t want to receive marketing materials, please contact Member Services on
1300 001 168 or email us at [email protected]. You can read the Trustee’s Privacy Policy on the Fund’s
website at diversa.com.au/privacy.

7.9 Third party authority form

You may use this form to allow a third party (e.g. your spouse or adviser) to gain access to your account details
for information purposes only. Please contact Member Services on 1300 001 168 or email us at
[email protected] if you require this form.

7.10 Authorised representative form

You may use this form to authorise your financial adviser and their AFS licensee to access information, switch
investment options and make contributions to your account on your behalf. Your authorised representative is not
permitted to perform any other actions in respect of your account. Please contact Member Services on 1300 001 168
or email us at [email protected] if you require this form.

Engineering Super Reference Guide 31

7.11 Further information
About the Fund
Professional Super is a sub-fund of the Tidswell Master Superannuation Plan (ABN 34 300 938 877. RSE R1004953),
a complying public offer superannuation fund. Professional Super is marketed under multiple brands, including
Engineering Super.
The governing rules
The trust deed and rules constituting the Fund were made on 17 June 1988. The trust deed and rules (Trust Deed)
have been amended and updated a number of times since then to ensure the Fund’s continued compliance with
legislative requirements and/or to deliver administrative efficiencies. The Trust Deed, together with Government
requirements, determines the obligations of the Trustee and the rights of members.
If there is any inconsistency between the Trust Deed and the PDS or this Guide, the terms of the Trust Deed prevail.
Copies of the Trust Deed and rules may be inspected by arrangement and photocopied during business hours at the
offices of the Trustee and are also available online at diversa.com.au/trustee/governance.
About the Trustee
The Trustee is Diversa Trustees Limited (ABN 49 006 421 638, AFS Licence No. 235153, RSE Licensee L0000635).
The Trustee is responsible for the operation of the Fund and compliance with the Trust Deed and superannuation law.
The Trustee holds an RSE Licence and an AFS licence.
The Trustee has overall responsibility for the management and administration of the Fund and protects the rights and
interests of members. All your enquiries relating to any of the above, or questions regarding your membership, should
be directed to:

MEMBER SERVICES ENGINEERING SUPER

Website www.engineeringsuper.com.au

Email [email protected]

Telephone 1300 001 168

Address Suite 4.01, 50 Holt Street

Surry Hills NSW 2010

32 Engineering Super Reference Guide