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Taxi Super

- Frequently Asked Questions

• What Investment Options are available?
• How do I change my investment options?
• What if I do not want to pick an investment option?
• Can my employer contribute?
• Does the Fund accept Spouse Contributions?
• Does the Fund accept Co-Contributions?
• Does the Fund accept Superannuation Guarantee vouchers?
• Does the Fund accept rollovers?
• How do I roll-over my other accounts into this Fund?
• What happens when I stop working for the employer who contributed to this Fund?
• What are the fees and charges?
• When can I access my super?
• Who is my benefit paid to if I die?
• How do I update my beneficiaries?

What Investment Options are available?
The Fund provides members with a range of 17 investment options. Go to the Investment Options page for more details.

How do I change my investment options?
You can change your investment options whenever you like. To do so, you need to complete an Investment Nomination form and send it to the Fund Administrator.

What if I do not want to pick an investment option?
Members who do not pick an investment option have their money invested in the Fund's default investment strategy - currently 60% in the ING Wholesale Managed Growth Trust and 40% in the ING Wholesale Capital Stable Trust. Members may update or change their options any time.

Can my employer contribute?
Yes

Does the Fund accept Spouse Contributions?
Yes

Does the Fund accept Co-Contributions?
Yes

Does the Fund accept Superannuation Guarantee vouchers?
Yes

Does the Fund accept rollovers?
Yes - and we do not have any transfer-in fees, either.

How do I roll-over my other accounts into this Fund?
You need to identify where your other accounts are held and then complete a Transfer Authorisation for each account you want to transfer. If you are not sure where your other accounts might be, we can do a search of the ATO's Lost Members Register to see if any of your accounts have been reported as "Lost" (a "Lost" account is generally one where the fund does not have a current address for you). So that we can do the search, you need to complete a request form.

What happens when I stop working for the employer who contributed to this Fund?
When we receive notification from either your employer or yourself, we will send you information about your account balance and your options. Essentially, you can elect to transfer your account to another fund, or leave it with us, where it will continue to receive investment income. In some situations, you may be able to access all or some of your account as a cash payment - this is generally not the case, but you can contact us to find out what amount, if any, you can access.

What are the fees and charges?
Fees are charged two different ways - some fees are deducted directly from your account, while others are deducted from the unit prices and reflected in the net returns declared by each investment option. The Fees deducted from your account are:

• a member fee of $53.30 per annum, deducted on a monthly basis
• the cost of any insurance cover you might have
• $46.13 per withdrawal

The Fees deducted from the unit prices are:

• a management charge of 1.54% per annum (this covers the Trustees fees, adviser remuneration, and administration costs)
• Investment manager fees ranging from 0.233% to 1.483% pa
• Expense recovery for items such as printing costs.

When can I access my super?
Due to Preservation laws, most people can not access their superannuation as cash until they have genuinely retired from the Work Force and have reached at least age 55 - depending upon when you were born, the age at which you can take your benefit as cash may be higher. The Government does allow access to your super savings earlier in special circumstances - eg Financial Hardship, Compassionate Grounds - contact our office for more information or read more about Early Release of Preserved Benefits.

Who is my benefit paid to if I die?
Your death benefit will be paid to your dependants in a manner decided by the Trustee. You can tell the Trustee who you would prefer the benefit to go to by completing the Nomination of Dependants section of the Application For Membership form. You can change your nomination at any time by informing the Trustee in writing. Please note that your nomination is not binding on the Trustee - the Trustee must determine how the benefit should be paid by considering the circumstances of each potential claimant. Nominated beneficiaries may include eligible dependants or a legal representative. In all cases, a dependant is usually your spouse or any child, or any other person who is substantially financially dependent on you at the time of your death.

How do I update my beneficiaries?
You may revoke or change your nomination at any time by completing a Nomination of Beneficiary form for a Non-Binding Nomination or a Binding Nomination of Beneficiary form.

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