MyState Wealth Management Superannuation Account Product Disclosure Statement - PDF

Please download to get full document.

View again

of 8
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Information Report
Category:

Genealogy

Published:

Views: 5 | Pages: 8

Extension: PDF | Download: 0

Share
Related documents
Description
MyState Wealth Management Superannuation Account Product Disclosure Statement 19 August 2015 CONTENTS Important Information 1 1. About the Mystate Wealth Management Superannuation Account 2 2. How Super
Transcript
MyState Wealth Management Superannuation Account Product Disclosure Statement 19 August 2015 CONTENTS Important Information 1 1. About the Mystate Wealth Management Superannuation Account 2 2. How Super Works 2 3. Benefits of investing with the Mystate Wealth Management Superannuation Account 2 4. Risks of Super 3 5. How we invest your money 3 6. Fees and other costs 5 7. How super is taxed 6 8. Insurance in your super 7 9. How to open a superannuation account Additional information 8 IMPORTANT INFORMATION This PDS is a summary of significant information relating to the MyState Wealth Management Superannuation Account and will help you decide whether this product will meet your needs, and help you compare this product with others you may be considering. It includes references to important information (each of which forms part of this PDS), including the MyState Wealth Management Superannuation Account Reference Guide (Reference Guide) and MyState Wealth Management Approved Products List. These references begin with an exclamation mark! and are in italics. Information in this PDS is subject to change from time to time. From time to time, updated information about non-materially adverse changes may be provided at mystate.com.au/wealth. You should carefully read and consider this PDS in its entirety, together with the Reference Guide and the other important information that forms part of this PDS, before making any decision to join. The information contained in this PDS is general information only and does not take into account your personal objectives, financial situation and/or needs. Before you make an investment decision it is recommended you obtain professional financial advice from your Financial Adviser tailored to your personal circumstances. This Product Disclosure Statement (PDS) is issued by The Trust Company (Superannuation) Limited (ABN , AFSL ) as Trustee of the Powerwrap Superannuation Account (referred to in this PDS as the MyState Wealth Management Superannuation Account ), established under the Powerwrap Master Plan (ABN , RSE R ) ( Plan ). Trustee and Issuer: The Trust Company (Superannuation) Limited ABN AFSL RSE Licence No L GPO Box 3001 Melbourne VIC 3001 Distributor: MyState Wealth Management, a registered business name of Tasmanian Perpetual Trustees Limited ABN AFSL GPO Box 1274, Hobart Tasmania Phone: Web: mystate.com.au/wealth Product Disclosure Statement 1 1. ABOUT THE MYSTATE WEALTH MANAGEMENT SUPERANNUATION ACCOUNT The MyState Wealth Management Superannuation Account has been established under a trust deed dated 1 July 2010 (as amended from time to time) for the Powerwrap Master Plan ( Plan ) and enables you to prepare for your retirement through a flexible investment structure that offers a wide range of investment and insurance options for you to choose from. The Plan offers others superannuation products however this PDS relates only to the product known as the MyState Wealth Management Superannuation Account. Key service providers to the MyState Wealth Management Superannuation Account include: Powerwrap Limited (ABN , AFSL ) is the Investment Administrator and Promoter. As Investment Administrator, Powerwrap Limited provides a comprehensive, sophisticated and flexible investment administration service through which the Plan s investments are made. The Plan s investments may be made via the Powerwrap Investment Account, a registered Managed Investment Scheme ( Scheme ) of which Powerwrap Limited is the Responsible Entity. Powerwrap Limited also provides investment consulting services to the Plan. DIY Master Proprietary Limited (ABN , AFSL ) is the Member Administrator. This PDS is distributed by MyState Wealth Management ( Distributor ), and is only available to clients of the Distributor. The Distributor assists with the promotion of the MyState Wealth Management Superannuation Account. Any such services are provided by the Distributor in its own right and not on behalf of the Trustee. The Trustee does not in any way endorse, warrant or accept responsibility for any of the services provided by the Distributor directly to members or prospective members. Given the range and nature of the investment choices available to you through the MyState Wealth Management Superannuation Account, you can only invest in the MyState Wealth Management Superannuation Account through your Financial Adviser. The role of your Financial Adviser is described in more detail below. For further information about the Plan, including its service providers, distribution arrangements and investment structure (including what types of investments are made via the Scheme), go to mystate.com.au/wealth. For information on the Fund s Trustee and any other information that must be disclosed in respect of the Fund and made available on the Fund s website under superannuation law, go to mystate.com.au/wealth-management/important-information/disclosuredocumentation. 2. HOW SUPER WORKS Superannuation is a means of saving for retirement which is, in part, compulsory. Most Australian employers are required by Government legislation to contribute a prescribed percentage of an employee s ordinary time earnings to a superannuation fund nominated by the employee or, if an employee does not nominate a fund, to the employer s default fund (refer to for the prescribed percentage). These compulsory contributions are referred to as Superannuation Guarantee (SG) contributions. There are additional types of contributions available to you including additional employer contributions (e.g. salary sacrifice contributions), voluntary member contributions and government co-contributions. You may also be able to split particular types of contributions with your spouse. If you are substantially self-employed you may also make contributions. The Federal Government provides taxation concessions to superannuation however there are limitations on contributions to, and withdrawals from, all superannuation funds. In most cases, you can access your superannuation savings once you retire on or after reaching your preservation age (between 55 and 60 depending on your date of birth) or in other circumstances (e.g. death, permanent incapacity and financial hardship) known as conditions of release. In certain circumstances the Trustee must transfer superannuation benefits to the Australian Taxation Office (e.g. certain lost accounts, unclaimed benefits on or after age 65 and unclaimed benefits of former temporary residents). Further information about the transfer of superannuation benefits to the Tax Office is available at As most people have a right to choose into which fund their employer should direct their SG contributions (called Choice of Fund ), it s important you take an interest in your super and help it grow into a healthy retirement nest egg. General information about super is available from www. moneysmart.gov.au.! You should read the important information about how super works before making a decision. Go to sections 2. Explaining Contributions and 3. Your Superannuation Benefits and Features of the Reference Guide located at mystate.com.au/wealth. The material relating to how super works may change between the time when you read this PDS and the day you acquire this product. 3. BENEFITS OF INVESTING WITH THE MYSTATE WEALTH MANAGEMENT SUPERANNUATION ACCOUNT The MyState Wealth Management Superannuation Account is available to any individual with a $20,000 minimum initial contribution. You have an accumulation style Superannuation Account, meaning that contributions you make accumulate over time with any investment earnings (which may be positive or negative) after taking into account fees, costs or other charges (e.g. insurance premiums or taxes). Each Superannuation Account has a minimum cash holding in a Cash Account (for cash flow needs) attached to it. In consultation with your Financial Adviser, you can choose to invest in a wide range of investment options. You can also apply for retail insurance cover for death only, death and total and permanent disablement, and income protection at competitive premium rates. When you retire (or meet some other condition of release) your Superannuation Account is payable as a lump sum. Alternatively, you could choose to start a pension (such as a Transition to Retirement Pension or Account Based Pension, both of which are available through the Powerwrap Master Plan). A Product Disclosure Statement for pension products from the Plan, issued by the Trustee, is available from mystate.com.au/wealth or on request from your Financial Adviser. You should consider the Product Disclosure Statement before deciding to acquire a pension product from the Plan. You can also consolidate your super by rolling money from other super accounts you hold into the MyState Wealth Management Superannuation Account; there is no minimum rollover amount. Before you roll out of any superannuation fund you should check if there are any exit or withdrawal fees and whether you are forgoing any benefits (such as insurance benefits). A key benefit of the MyState Wealth Management Superannuation Account is that it brings all your superannuation investments together in one, consolidated investment portfolio online. This allows you and your Financial Adviser to keep track of and manage your investments, transact on your Superannuation Account, and know how your investments are performing with consolidated portfolio reporting. Other key benefits and features include: contribution splitting with your spouse is available contributions can be made by cheque or direct debit you can make binding and non-binding death benefit nominations otherwise death benefits will generally be paid to your estate regular reporting and access to information about your account and this product via a website. 2 Product Disclosure Statement ! You should read the important information about benefits and features of your Superannuation Account before making a decision. Go to section 3. Your Superannuation Benefits and Features of the Reference Guide located at mystate.com.au/wealth. The material relating to benefits and features of your Superannuation Account may change between the time when you read this PDS and the day you acquire this product. The role of your Financial Adviser Your Financial Adviser is integral to the operation and maintenance of your Superannuation Account and investment portfolio, and can help you understand your financial position, identify your goals and financial issues and choose an investment strategy and underlying investments that best suits you. Your Financial Adviser may more actively assist in the management of your investments via the Plan, using Model Portfolios constructed by professional managers. If you cancel the appointment of your Financial Adviser, unless you appoint another Financial Adviser, you may be asked to transfer your benefit to another complying superannuation fund. If you fail to comply with that request within 30 days of it being dated, the Trustee may transfer you to an Eligible Rollover Fund. Please note carefully, all investment instructions must be directed through your Financial Adviser. Further, your Financial Adviser bears full responsibility for placing your instructions on your behalf and ensuring all investment holding limits are adhered.! You should read the important information about your Financial Adviser before making a decision. Go to section 1. The Role of Your Financial Adviser and section 7. Investments of the Reference Guide located at mystate.com.au/wealth. The material relating to role of your Financial Adviser may change between the time when you read this PDS and the day you sign the Application Form or acquire this product. 4. RISKS OF SUPER All investments carry risk, meaning there is a possibility that you can lose money or that your investment may not meet your objectives. Different investment strategies may carry different levels of risk, depending on the assets that make up the investment strategy. Assets with the highest long-term returns may also carry the highest level of short-term risk. Some of the significant risks of investing in the MyState Wealth Management Superannuation Account include that: the value of your investment portfolio will vary over time the level of returns will vary and future returns may vary from past returns returns are not guaranteed and you may lose some of your money laws affecting superannuation and taxation may change in the future, which may affect the value of your investment and/or the ability to access your benefits if you leave, you may get back less than the amount you paid in because of low or negative investment returns, fees, charges and the impact of taxes, and the amount of your future superannuation savings (including contributions and returns) may not be enough to provide adequately for your retirement. Other key risks are investment risks associated with the investments used to implement your chosen investment strategy and may include (depending on the underlying assets) market risk, economic risk, inflation risk, interest rate risk, security specific risk, liquidity risk, credit risk, fund manager risk, derivatives risk, currency risk, Government risk and counterparty risk. It is not possible to identify every risk factor relevant to the MyState Wealth Management Superannuation Account and the above list is not exhaustive. The appropriate level of risk for you will vary depending on various factors including your age, investment timeframe, where and how other parts of your wealth are invested, and your level of risk tolerance. You should consult with your Financial Adviser to properly understand the risks associated with the MyState Wealth Management Superannuation Account and your attitude to investment risk.! You should read the important information about risks of super before making a decision. Go to section 4. Risks of Super of the Reference Guide located at mystate.com.au/wealth.the material relating to risks of super may change between the time when you read this PDS and the day you acquire this product. 5. HOW WE INVEST YOUR MONEY In consultation with your Financial Adviser, you can choose to invest your super in a wide range of investment options including Managed Funds, securities listed on the ASX, and Term Deposits to implement your chosen strategy. Your Financial Adviser can more actively assist with the management of your investments, based on a Model Portfolios constructed and managed by professional managers. You can only select investments and use Model Portfolios that are included on the MyState Wealth Management Superannuation and Pension Account Approved Products List and all investment instructions must be directed through your Financial Adviser. The Advance Balanced Multi-Blend Wholesale Fund is a balanced investment option available on the MyState Wealth Management Superannuation and Pension Account Approved Products List. Name Overview Type of investor to whom this fund is suited Target asset allocation Advance Balanced Multi-Blend Wholesale Fund The Advance Balanced Multi-Blend Fund is an actively managed multi-manager diversified portfolio of investments. The Fund invests in a diverse mix of assets with both incomeproducing assets (around 30%) of cash and fixed interest, and growth assets (around 70%) including shares and property. Investors seeking moderate to high returns (before fees and taxes) over the medium term. Income-producing assets, such as cash and fixed interest, and growth assets like shares and property. SAA range % Target asset allocation % Australian shares International shares Property and real assets Growth alternatives Australian fixed interest International fixed interest Cash The actual asset allocation may vary from the strategic asset allocation either positively or negatively. Product Disclosure Statement 3 Name Investment return objective Minimum suggested timeframe for investment Risk Level Advance Balanced Multi-Blend Wholesale Fund To provide moderate to high total returns (before fees and taxes) over the medium term from a combination of capital growth and income through a diversified mix of growth and defensive assets. 5 years 5 medium to high risk! The risk level is based on the Standard Risk Measure which is based on industry guidance. For information about the Standard Risk Measure see 4. Risks of Super in the MyState Wealth Management Superannuation Account Reference Guide. Warning: When deciding how to invest your superannuation you should consider issues such as: the likely investment return the level of risk, and your investment timeframe. Cash Account The Cash Account is used for all transactions and must hold a minimum balance plus an amount sufficient to cover anticipated fees for a six-month period. If your Cash Account falls below this minimum requirement, you may be required to sell down some of your investments. When you first join, your money will be invested in your Cash Account until investment instructions are received. Buying, selling and switching investments You can change your investment strategy(ies) and investments at any time by providing your Adviser with investment instructions. There is generally no minimum amount for investments (however, some Managed Funds and Model Portfolios may impose minimum restrictions speak with your Financial Adviser). When placing investment instructions, you must ensure your Cash Account holds sufficient cash including the minimum balance to enable the transaction to settle. Managed Funds You can choose from a wide range of Managed Funds offered by Australian and international fund managers. Generally, transaction instructions received by the Investment Administrator before 1.00 pm will be acted on the same business day, or the next business day if received after 1.00 pm. However, the time taken to finalise investment instructions can vary depending on a number of factors applicable to specific Managed Funds. Refer to the MyState Wealth Management Superannuation and Pension Account Approved Products List for applicable holding limits. ASX-Listed Securities You can choose from a wide range of ASX-Listed Securities including: Listed Securities forming part of the All Ords Index (these are the top 500 companies listed on the ASX by market capitalisation) Listed Investment Companies (LICs) Exchange Traded Securities, including Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs) Hybrid Securities, and Listed Debt Securities. Trades are normally placed with a stockbroker shortly after your Financial Adviser provides instructions. When the trade is placed, a limit on the price may be set, or the market price may be accepted. Trades can be executed quickly, however, it may take some time (particularly where you specify a buy or sell price). If your trade cannot be immediately executed, your Financial Adviser has full discretion in deciding for how long your instructions will remain valid. Refer to the MyState Wealth Management Superannuation and Pension Account Approved Products List for applicable holding limits. Term Deposits You can choose from a wide range of Term Deposits held with Authorised Deposit-Taking Institutions. Generally, transaction instructions received by the Investment Administrator before pm will be purchased the same business day, or the next business day if received after 1.00 pm. The interest rate you earn will depend on the length of the investment term chosen (and in some cases where wholesale interest rates are available, on the amount you invest). The interest rate applicable to a Term Deposit is the prevailing rate on the day the Term Deposit is opened. Refer to the MyState Wealth Management Superannuation and Pension Account Approved Products List for applicable holding limits. Investment holding limits There are limits on how much you can invest in certain underlying investments. If
Recommended
View more...
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks