Download - MLC MasterKey Super & Pension Fundamentals · MLC MasterKey Pension Fundamentals and MLC MasterKey Super Fundamentals accounts. How to contact MLC For more information, call MLC from

1. PDS Information on your

MLC MasterKey Super & Pension Fundamentals accounts.

2. Fee Flyer Information on fees

and costs you will pay.

3. Investment Menu Information you

need to decide which investment options best suit your financial goals.

4. Investment Protection Guide

Information you need to decide if Investment Protection best suits your financial goals.

4. Super Fundamentals Application Form

Application form for MLC MasterKey Super Fundamentals.

5. Pension Fundamentals Application Form

Application form for MLC MasterKey Pension Fundamentals.

6. Application to Transfer Form

Application to move your existing account to MLC MasterKey Super Fundamentals or MLC MasterKey Pension Fundamentals.

7. Application to Transfer Pension Benefit Form

Application to transfer benefits between your existing MLC MasterKey Pension Fundamentals and MLC MasterKey Super Fundamentals accounts.

How to contact MLC

For more information, call MLC from anywhere in Australia on 132 652 or contact your adviser.

Postal address: MLC Limited, PO Box 200 North Sydney, NSW 2059

Website: mlc.com.au Fax: (02) 9964 3334

MLC MasterKey Super & Pension FundamentalsBuild your savings while you work, and look forward to a better retirement.

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http://www.mlc.coma.u

MLC MasterKey Super & Pension FundamentalsProduct Disclosure Statement

MLC Superannuation

Preparation date: 7 December 2012

Issued by: The Trustee, MLC Nominees Pty Limited (MLC)

ABN 93 002 814 959 AFSL 230702

The Universal Super Scheme ABN 44 928 361 101

1About MLC MasterKey Super & Pension FundamentalsWherever you are in life, MLC MasterKey Super & Pension Fundamentals can help you retire with more. It’s the one account that’s with you when you’re:

• working to save for retirement in the tax-effective environment of super

• moving towards retirement and continuing to grow your super while receiving tax-effective income from your pension, and

• enjoying retirement and can receive a lump sum when you stop working or transition easily into retirement with an account that pays you a steady income stream.

So no matter where you’re at in your working life, we can help you structure your super to build a better retirement.

With 125 years experience of looking after Australians’ needs, you know you’re with one of Australia’s most trusted and awarded wealth managers.

MLC MasterKey Super & Pension Fundamentals is part of The Universal Super Scheme.

Contents

1. About MLC MasterKey 1 Super & Pension Fundamentals

2. How super works 1

3. Benefits of investing 2 with MLC MasterKey Super & Pension Fundamentals

4. Risks of super 2

5. How we invest 3 your money

6. Fees and costs 4

7. How super is taxed 5

8. How to open 6 an account

This document is a summary of significant information and contains references to further important information in the Investment Menu, Fee Flyer, Investment Protection Guide and Application Forms.

You should consider all information before making a decision to invest in this product.

This information is general and does not take into account your personal financial situation or needs.

We recommend you obtain financial advice for your own personal circumstances.

The MLC group of companies is the wealth management division of National Australia Bank. We provide investment, super and insurance solutions and work closely with you and your adviser to help grow and protect your wealth.

2How super worksInvesting through super is a tax-effective way to save for your retirement.

The Government encourages Australians to use super to build wealth that will generate income in their retirement, and it’s compulsory for contributions to be made to super for most working Australians. Tax concessions and other Government benefits generally make it one of the best long-term investment vehicles.

Contributing to your superYou can generally choose where you want to invest your super.

Generally you, your spouse or your employer can contribute to your super and help it grow faster. You could also use strategies that include Government co-contributions or arranging with your employer to contribute some of your pre-tax salary.

Whatever strategy you choose, you can contribute via direct debit, BPAY®, credit card or cheque. You can also set up a Regular Investment Facility to make contributions from your bank account.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

While you can contribute as much as you like, you will incur additional tax if contributions exceed certain limits.

The law defines your eligibility, the types of contributions you or others can make on your behalf, and the maximum amount you can contribute before you pay additional tax. It also determines whether you are eligible to access your super. To find out more go to apra.gov.au or ato.gov.au or moneysmart.gov.au

Consolidating your superKeeping your super in one place makes sense. You can transfer the money you hold in other Australian and overseas super accounts to your MLC super account.

This gives you a single view of your money, helps you keep track of your investments and means you are only paying one set of fees for your super.

We recommend that you seek financial advice before consolidating your super as your fees and benefits may be different.

Page 1 MLC MasterKey Super & Pension Fundamentals PDS

http://www.apra.gov.au/

http://www.ato.gov.au/

http://www.moneysmart.gov.au/

5How we invest your moneyWe make sophisticated investing easy. Choose from our range of sophisticated MLC portfolios to really get your investment plan into action.

And, if you want to add to these portfolios, we offer extra options from other managers. All investment options are shown in the Investment Menu.

You will need to choose your investment options from the Investment Menu.

Before doing this you should read the information in the Investment Menu.

An example of the information provided on each investment option is shown for the MLC Horizon 4 Balanced Portfolio on this page.

You can switch between these options at any time. To switch log in to mlc.com.au or call us.

You should consider the likely return, risk and investment timeframe when making your decision.

We may change the target allocation in each investment option, add new and remove investments options at any stage. Up-to-date information is available at mlc.com.au

MLC Horizon 4 Balanced PortfolioInvestment objective:Aims to grow your wealth for an expected level of risk.

The Portfolio may be suited to you if:• you want to invest with a bias to

growth assets

• you want a portfolio with a bias towards long-term capital growth potential and can tolerate moderate to large changes in value

We may adjust the target allocation within these ranges:Defensive 25–35% Growth 65–75%

Minimum suggested time frame to invest: Six years

Estimate number of negative returns: High, 4 years in 20

Indicative investment fee (% pa): 0.70

Target asset allocation of $1,000 (as at 30 June 2012)

n Cash $5

n Australian fixed income $176

n Global fixed income $119

Defensive $300

n Australian shares $310

n Global shares (hedged) $20

n Global shares (unhedged) $220

n Global property $40 securities (hedged)

n Global private assets $60 (hedged)

n Other $50

Growth $700

You should read the important information about our investment philosophy, including ethical investing and the Standard Risk Measure in the Investment Menu before making a decision. Go to mlc.com.au/pds/mkspf

The material relating to the Investment Menu may change between the time when you read this Statement and the day when you sign the application form.

Want to know more?Your future is what matters, so we’ve developed a lot of information on super, investment risk and investing for the future. Just talk to your financial adviser or go to mlc.com.au


http://www.mlc.com.au/


http://www.mlc.com.au/pds/mkspf


6Fees and costs

A tax benefit may apply to fees charged to your super account. All fees in the table below are before the tax benefit.

We charge the fees and then pass the tax benefit back to your super account as a credit, which effectively reduces the fees shown below by 15%.

The information in this table can be used to compare fees and costs between different superannuation products.

These fees and costs may be deducted from your account, from the returns on your investment or from fund assets as a whole.

To find out moreIf you would like to find out more, or see the impact of fees for your own circumstances, the Australian Securities and Investments Commission (ASIC) website (moneysmart.gov.au) has a Superannuation calculator to help you check out different fee options.

These fees apply to your combined super and pension accounts.

Type of fee or cost Amount

Fees when you move your money in or out of the fund

Establishment fee Nil.

Contribution fee Nil.

Withdrawal fee Nil.

Termination fee Nil.

Management costs

The fees and costs for managing your investment.

Administration fee

Account balance Percentage fee (% pa)

First $200,000 0.40

Next $600,000 0.25

Remaining balance over $800,000 0.20

Plus A fee of $2.50 per week if your account balance is below $50,000 when the Administration fee is deducted.

1 Includes a performance fee. For more information refer to the Investment Menu.

Example of annual fees and costsThis table is an example of how the fees and costs in a balanced option for this product can affect your investment over a one year period. You should use this table to compare this product with other super products.

Example: MLC Horizon 4 Balanced Portfolio

Balance of $50,000 with total contributions of $5,000 during the year

Contribution fees

0% For every $5,000 you put in, you’ll be charged $0.

Plus Management costs:

Administration fee

0.40% x $50,000

$200 And, for every $50,000 you have in the fund you will be charged $550 each year.

Investment fee

0.70%1 x $50,000

$350

Equals Cost of fund If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of:

$5502

What it costs you will depend on the investment option you choose and the fees you negotiate with your fund or financial adviser.

1 The Indicative investment fee for MLC Horizon 4 Balanced Portfolio is 0.70%.2 Additional fees may apply: Establishment fee – $0. And, if you leave the fund early, you may be charged Withdrawal fees of 0% of your total account balance. A Termination fee of $0 is deducted from the amount paid when you make a full withdrawal. This example assumes no investment gains or losses during the year and the contribution was made on the last day of the year.


Administration fee

Account balance Percentage fee (% pa)

First $200,000 0.40

Next $600,000 0.25

Remaining balance over $800,000 0.20

Plus A fee of $2.50 per week if your account balance is below $50,000 when the Administration fee is deducted.

Investment fee Ranges from 0.25% pa to 4.32%1 pa.

Did you know?Small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns.

For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000).

You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs.

You may be able to negotiate to pay a lower contribution fee and management costs where applicable. Ask us or your financial adviser.


Adviser service feeIf you wish, you can have amounts deducted from your account to pay fees to your financial adviser.

This fee will be in addition to the other fees described in the Fee Flyer.

Any arrangement you have should be detailed in the Statement of Advice provided by your financial adviser.

Varying of feesWe may vary our fees, costs or fee discounts but we’ll give you 30 days’ notice of any increase. The only exception is for investment fees, which vary daily with investment costs and Government taxes and charges.

You should read the important information about the fees, costs and investment options in the Fee Flyer and Investment Menu before making a decision. Go to mlc.com.au/pds/mkspf

The material relating to the fees, costs and investment options in the Fee Flyer and Investment Menu may change between the time when you read this Statement and the day when you sign the application form.

7How super is taxedThis section isn’t a comprehensive and complete tax guide. Tax on super is complex. This is general information, and we recommend you seek advice from a registered tax agent to determine your personal tax obligations. MLC is not a registered tax agent.

Tax treatments in your account

Contributions Investment earnings

Super Concessional contributions, such as employer and salary sacrifice contributions•usually taxed at a rate of 15%.Personal contributions •not taxed. Generally, these are contributions made by you

or your spouse for which no personal income tax deduction has been claimed.

Tax is deducted at 30 June or when you leave MLC.

Additional tax may be payable if you exceed the contribution limits, go to ato.gov.au

Taxed at a rate of up to 15%.Tax paid or payable on investment earnings is reflected in your account balance.

Pension Not applicable. Tax-free.

Tax treatments on payments to you

Regular and additional pension payments

Lump sum withdrawals

Super Not applicable. Tax-free component: Nil.Taxable component:• If under age 55, tax is paid up to 21.5%

(including Medicare Levy at 1.5%).• If aged between 55–59, tax-free on first

$175,000 (this is a lifetime limit which may be increased periodically), then tax is paid on remainder up to 16.5% (including Medicare Levy at 1.5%).

•From age 60, tax-free.• If a disability superannuation benefit,

different rates apply. Go to ato.gov.auOther taxes and government levies may apply from time to time.If applicable, we’ll deduct the tax from your account before paying the lump sum.

Pension Tax-free component: Nil.Taxable component: • If under age 55, tax is paid

at marginal tax rates plus Medicare Levy at 1.5% with no tax offset

• If aged between 55–59 tax is paid at marginal tax rates plus Medicare Levy at 1.5%, less a tax offset of 15%.

• From age 60, tax-free• If a disability superannuation

benefit, different rates apply. Go to ato.gov.au

Other taxes and government levies may apply from time to time.

To invest in MLC MasterKey Super & Pension Fundamentals you will need to provide your Tax File Number (TFN). If you don’t provide your TFN we will hold your money in trust and contact you or your financial adviser to obtain your TFN. If we don’t receive your TFN within 14 days we will return any contributions or rollovers.

MLC MasterKey Super & Pension Fundamentals PDS Page 5





8How to open an accountTo open your super account you may apply online through your financial adviser or fill in an Application Form and send to us. We may need to confirm your identity when we process your application.

Once you have access to your super money you can start a pension. This may be from an existing MLC account, other super accounts or both. Just apply online through your financial adviser or fill in an Application Form and send to us. We may need to confirm your identity when we process your application.

Product and investment option changesChanges will be made from time to time. Changes that are not materially adverse will be made available on mlc.com.au or you can obtain a paper copy of the changes on request free of charge.

Want to change your mind?

You can mail, fax or email us to close your account within 14 days of opening it. We’re restricted by law on the amount that may be paid. To find out more go to apra.gov.au or ato.gov.au. Your account balance will be adjusted for any:

• increase or decrease in the value of your investment

• pension payments made to you

• any insurance premium paid

• tax payable, and

• administration costs incurred in establishing or closing your account.

This cooling-off period doesn’t apply if you transact on your account within 14 days.

For more information For more information please go to the online copy of this document on mlc.com.au/pds/mkspf or contact us or your financial adviser.


Resolving complaintsWe can usually resolve complaints over the phone. If we can’t, or you’re not satisfied with the outcome, please write to us. We’ll work to resolve your complaint as soon as possible.

If you’re not satisfied with our decision you can get further advice from the Superannuation Complaints Tribunal by calling 1300 884 114, or emailing [email protected]

More information is available on sct.gov.au


http://www.apra.gov.au/



mailto:info%40sct.gov.au?subject=

http://www.sct.gov.au/

3Benefits of investing with MLC MasterKey Super & Pension FundamentalsMLC MasterKey Super & Pension Fundamentals is a great way to access sophisticated investment solutions designed to help you grow and protect your super. We offer a range of features to help you get your money working for you, the way you want.

Investments As Australia’s largest and most experienced multi-manger, we research hundreds of investment managers from around the world to select some of the best ones for our investment portfolios.

This means our portfolios are expertly designed so you can use them as a total investment solution.

And, because world markets change, we manage and evolve our portfolios by actively researching these markets, and seeking new opportunities to increase returns or reduce risk.

We recognise some investors want extra options when it comes to managing their money. To help you do this, we offer options from other managers that don’t use MLC’s approach to investing, for you and your financial adviser to choose from.

Investment ProtectionIf you want to take advantage of market growth and protect your savings, then investment protection may be right for you.

With MLC MasterKey Investment Protection you can invest with greater certainty and protect your super or pension.

For information on protection options that meet your needs, please contact your financial adviser.

ReportingWe also keep you updated with regular reports and online access to your account, so you can see exactly how your investments are performing.

Insurance you can depend onWith MLC, you get cover you can trust from a multi-award winning provider of personal insurance to more Australians than any other company.

If you’re under 65, you can apply for our life and disability insurance and pay the premiums from your account.

For more information on insurance options that meet your needs, please contact your financial adviser or go to mlc.com.au

In the event of your deathYour account balance can be paid to your beneficiaries or your estate in the event of your death. Please let us know who you want to receive your account balance, otherwise the Trustee will decide.


4Risks of superBefore you do any investing in super, there are some things you need to consider including the level of risk you are prepared to accept. Factors that will affect your decision include:

• your investment goals

• the savings you’ll need to reach your goals

• how many years you have to invest

• the return you may expect from your investments, including investments outside of super, and

• how comfortable you are with investment risk.

Investment riskEven the simplest of investments come with a level of risk and different investments have different levels of risk.

While the idea of investment risk can be confronting, it’s a normal part of investing. Without it you may not get the returns you need to reach your financial goals. This is known as the risk/return trade-off.

When considering your investment, it’s important to understand that:

• its value will vary over time

• investments with higher return potential, usually have higher levels of risk

• returns aren’t guaranteed, and you may lose some of your money

• previous returns shouldn’t be used to predict future returns, and

• your final super balance may not provide for an adequate retirement.

Accessing the money you put into superBecause super is for your retirement the law is strict about how and when you can access your money. To find out more go to moneysmart.gov.au

Legislative changeJust as the Government makes rules, it can also change them. Your financial adviser can help you respond to any changes to laws on super, tax, social security and other retirement issues.

You should read the important information about our protection options in the Investment Protection Guide before making a decision. Go to mlc.com.au/pds/mkspfThe material relating to the Investment Protection Guide may change between the time when you read this Statement and the day when you sign the application form.




For more information call MLC from anywhere in Australia on 132 652 or contact your adviser.

Postal address: PO Box 200 North Sydney NSW 2059

Registered office: Ground Floor, MLC Building 105–153 Miller Street North Sydney NSW 2060

mlc.com.au 68455M1112

MLC Superannuation


The information in this document forms part of the Product Disclosure Statement, dated 7 December 2012.

Together with the Investment Menu, Investment Protection Guide and Application Forms, these documents should be considered before making a final decision to invest.

This flyer shows the fees and other costs that apply to MLC MasterKey Super & Pension Fundamentals you may be charged.

All fees are shown inclusive of GST and net of Reduced Input Tax Credits (where applicable).

MLC MasterKey Super & Pension FundamentalsFee Flyer

A tax benefit may apply to fees charged to your super account.

Where applicable, the fees in this table are prior to any tax benefit. Where a tax deduction is available, we will pass the tax benefit back to your super account as a credit which effectively reduces the fees shown by up to 15%. A tax benefit is generally not available to pension members.

There is no tax benefit provided to your account for Protection Fees paid.

Type of fee or cost Amount How and when paid

Fees when money moves into or out of the fund

Establishment fee: The fee to open your investment.

Nil.There is no Establishment fee.

Contribution fee: The fee on each amount contributed to your investment – either by you or your employer.

Nil.There is no Contribution fee.

Withdrawal fee: The fee on each amount you take out of your investment.

Nil.There is no Withdrawal fee.

Termination fee: The fee to close your investment.

Nil.There is no Termination fee.

Management costs

The fees and costs for managing your investment.

Administration fee

Account balance

Percentage fee (% pa)

First $200,000 0.40

Next $600,000 0.25

Remaining balance over $800,000

0.20

PlusA fee of $2.50 per week if your account balance is below $50,000 when the Administration fee is deducted.

•Deducted monthly from your account.

• The Percentage fee is calculated using your average super and pension account balance for the previous month.

• The maximum Administration fee you may pay is $3,500 pa.

• The Administration fee may be increased by MLC with 30 days prior notice to you.

•Under current arrangements the Percentage fee can’t exceed 2.56% pa.

The amount you pay for specific investment options is shown in the Investment Menu.

Investment feeRanges from 0.25% pa to 4.32%1 pa.

•Actual fee depends on the investment option chosen (see Investment Menu).

•Reflected in the unit price for each investment option.

•Varies as investment costs change. No maximum.

1 This includes a performance fee of 3.12%.

Explanation of feesThese fees apply to your combined super and pension accounts.



ABN 93 002 814 959 AFSL 230702


Type of fee or cost Amount How and when paid

The amount you pay for Investment Protection.

Protection fee (% pa)

Plus optional extras (% pa)

Protected Capital 10 yrs 20 yrs Additional investment

benefit

Death benefit

MLC Horizon 3 Conservative Growth Portfolio

1.20% 0.75%

0.20% 0.20%

MLC Horizon 4 Balanced Portfolio 2.00% 1.15%

MLC Horizon 5 Growth Portfolio N/A 1.60%

MLC Index Plus Conservative Growth Portfolio

1.10% 0.65%

MLC Index Plus Balanced Portfolio 1.90% 1.05%

MLC Index Plus Growth Portfolio N/A 1.50%

Plus optional extra -

Spouse benefit (% pa)

Protected Income 10 yrs 20 yrs For life 10 yrs / 20 yrs

For life


0.90% 0.55% 1.40%

0.10% 0.90%

MLC Horizon 4 Balanced Portfolio 1.65% 0.90% 2.00%

MLC Horizon 5 Growth Portfolio N/A 1.35% N/A


0.80% 0.45% 1.30%

MLC Index Plus Balanced Portfolio 1.55% 0.80% 1.90%

MLC Index Plus Growth Portfolio N/A 1.25% N/A

•Actual fee is based on the type and term of your protection, the investment option you’ve chosen, your protected account balance, plus any optional extras you choose (please see the Investment Protection Guide).

•Deducted monthly from your protected account balance.

•Calculated using your closing protected account balance on your monthly anniversary date.

Service fees2

Investment switching fee: The fee for changing investment options.

Nil. There is no Investment switching fee.

2 Other Service fees may apply. Please see the Additional explanation of fees and costs for more information.

Explanation of fees continued

Additional explanation of fees and costsInvestment manager fee rebateSome investment managers provide a rebate on their investment management fee, which we pass entirely back to your account.

The investment fees in the Investment Menu are shown after allowing for this rebate.

Transaction cost allowanceWhen calculating unit prices, MLC may make an allowance for the costs of buying and selling assets. These costs include brokerage and stamp duty.

When you transact on your account you may pay a small proportion of your transaction towards meeting these costs. These may vary in future without prior notice to you.

Performance feeAn investment manager may charge a performance fee when its investment returns exceed a specified level. Where applicable, an estimate of this fee is included in the investment fees shown in the Investment Menu.

The actual performance fee charged in future periods may differ from that disclosed in the Investment Menu.

You can get more information on how performance fees are calculated by going to the investment managers’ Product Disclosure Statements available on mlc.com.au

Family Law feeThe Family Law Act enables investments to be divided between parties in the event of a breakdown of a marriage or de facto relationship.

We may be legally compelled to provide information to other parties in accordance with this legislation.

We may charge a fee for this service.

Adviser service feeIf you wish you can have amounts deducted from your account to pay fees to your financial adviser.

This fee will be in addition to the other fees described in this Fee Flyer. Any arrangement you have with your financial adviser should be detailed in the Statement of Advice provided by them.

Adviser remuneration

MLC does not pay commission to financial advisers for this product.

Advisers may receive alternative forms of remuneration, such as the costs of maintaining their professional development qualifications. This is paid from the Administration fee and is not an additional cost to you. Actual payments are recorded in registers which you can view on request.

Fees paid to NAB group companiesMLC may use the services of NAB owned companies where it makes good business sense to do so and will benefit our customers.

Amounts paid for these services are always negotiated on an arms length basis and are included in all the fees detailed on these pages.

Each financial year, MLC pays NAB a fee of up to 0.1% of contributions made to MLC MasterKey Super & Pension Fundamentals by customers introduced by NAB. This is included in the fees and costs already shown in this flyer.

Fee rebates for small super account balancesThe law limits the amount of fees we can deduct from your account if the value of your account is less than $1,000 and it includes or has included Superannuation Guarantee or award contributions made by your employer.

Other fees we may chargeFees may be charged if you request a service not currently offered.

We may charge members, or the fund generally, with actual or estimated costs of running the fund. These may include costs resulting from government legislation or fees that are charged by third parties.

Varying your feesWe may vary our fees, costs or fee discounts but we’ll give you 30 days notice of any increase. The only exceptions are for investment fees which vary daily with investment costs and Government taxes and charges.

84499M1112

For more information please go to mlc.com.au or call us on 132 652 or from outside Australia on +61 3 8634 4721 or speak with your adviser.



MLC MasterKey Super & Pension FundamentalsInvestment Menu

MLC Superannuation



ABN 93 002 814 959 AFSL 230702


For more information please contact us, your financial adviser or go to the online copy of this document on mlc.com.au/pds/mkspf

References to websites in this document direct you to additional information.

This menu gives you information about the investments available through MLC MasterKey Super & Pension Fundamentals.

ContentsWhat this menu covers

MLC. With you 1Who you go through life with makes all the difference.

Things to consider 2 before you invest Before you do any investing, we want you to know about both the benefits and potential risks involved.

MLC’s approach 8 to investingWe design investment solutions to help investors achieve their goals while managing risk.

Investing with MLC 9Our portfolios make sophisticated investing straightforward.

Investment options 26 not managed by MLCThese are single asset class investment options from other managers.

The information in this document forms part of the Product Disclosure Statement, dated 7 December 2012. Together with the Fee Flyer, Investment Protection Guide and Application Forms, these documents should be considered before making a final decision to invest.

MLC MasterKey Super & Pension Fundamentals Investment Menu

Who you go through life with makes all the difference.

At MLC, we’ve been looking after Australians’ investment and insurance needs for over 125 years.

This experience has taught us the right solution is as unique as each investor.

That’s why we specialise in creating a diverse range of super, investment and insurance solutions.

We do this so you and your financial adviser can grow and protect your wealth the way you want to.

And, as your needs will change with time, we’ll continually enhance our products and services so you can get the best out of your experience with us.

The Fund Profile ToolThis easy to use, interactive tool will give you greater insight into how your money is managed including where your money is invested and how your investments are performing. For the latest information on the MLC portfolios go to mlc.com.au

Investing with usOur portfolios make sophisticated investing straightforward.

We’re experts in putting together portfolios for people.

With our leading-edge design process, we structure our portfolios to deliver more reliable returns in many potential market environments.

And, as our view of world markets changes, we evolve our portfolios to manage new risks and capture new opportunities.

We have both internal investment management expertise, and the experience and resources to find some of the world’s best investment managers.

Importantly, we stay true to the objectives of our portfolios, so you can keep on track to meeting your goals.

MLC.With you

The MLC group of companies looks after more than $123.5 billion (as at 31 March 2012) on behalf of individual and corporate investors in Australia and is the wealth management division of the National Australia Bank.

We provide investment, super and insurance solutions and work closely with you and your financial adviser to help grow and protect your wealth.

http://www.mlc.com.au/fundprofile/flow/fundProfile?execution=e1s1


MLC MasterKey Super & Pension Fundamentals Investment Menu Page 2

Things to considerbefore you invest

Before you do any investing, we want you to know about both the benefits and potential risks involved.

Even the simplest of investments come with a level of risk.

While the idea of investment risk can be confronting, it’s a normal part of investing. Without it you may not get the returns you need to reach your financial goals.

This is known as the risk/return trade-off.

The value of an investment with a higher level of risk will tend to rise and fall more often and by greater amounts.

In other words, it is likely to be more volatile than those with less risk.

Many factors influence an investment’s value. These include, but aren’t limited to:

•market sentiment

•growth and contraction in the Australian and overseas economies

• legislative changes

•changes in interest rates

•defaults on loans

•company specific issues

• liquidity (the ability to buy or sell investments when you want to), and

•changes in the value of the Australian dollar.



As demonstrated in the graphs below, investments that have often produced higher returns over long periods can be volatile in the short term.

Source: Graphs have been calculated by MLC using data presented in DMS Data Module offered through the Morningstar software program EnCorr.

Based on copyrighted books by Dimson, Marsh, and Staunton, Triumph of the Optimists, Princeton University Press, © 2002, and Global Investment Returns Yearbook 2003, ABN AMRO/London Business School © 2003. All rights reserved. Used with permission.

By understanding volatility will occur, you’ll be able to manage your expectations and resist reacting to these short-term movements.

This will help you stay true to your investment strategy, and keep on track to achieve your long-term goals.

... can be volatile in the short term.Returns above inflation over 1 year periods (1900–2011)

Investments that have often produced higher returns over long periods ...

Returns above inflation over 20 year periods (1920–2011)

Period ended 31 December

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Australian Cash Australian Fixed Income Australian Shares


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Diversify to reduce volatility and other risksDiversification is a sound way to reduce short-term volatility. It also helps you manage the risk of not being able to buy or sell assets when you want to.

The more you diversify the less impact any one investment can have on your portfolio.

One of the most effective ways of reducing volatility is to diversify across a range of asset classes.

Asset classes are groups of similar types of investments.

Each class has its risks and benefits, and goes through its own market cycle. A market cycle can take a couple of years or many years; it’s different each time.

In the description of the investment options (from page 10), we include a minimum time to invest. Investing for the minimum time or longer improves your chances of achieving the return you expect. However, returns can’t be guaranteed.

You need to be prepared for all sorts of return outcomes when investing.

The main asset class risks and benefits are:

CashCash tends to be included in a portfolio to meet liquidity needs.

Things to consider:

•Cash is usually the least volatile type of investment. It also tends to have the lowest return over a market cycle.

•The return is typically all income and is referred to as interest or yield.

•The market value tends not to change. However, when you invest in cash, you’re effectively lending money to businesses or governments that could default on the loans. A default could result in a loss on your investment.

•Many cash funds invest in fixed income securities that have a very short term until maturity.

•Cash is generally a low risk investment.

Fixed incomeWhen investing in fixed income securities, you’re effectively lending money to businesses or governments.

Returns typically comprise interest and changes in the market value of the security.

Things to consider:

•There are different types of fixed income securities and these will have different returns and volatility.

•Fixed income securities denominated in foreign currencies will be exposed to exchange rate variations.

•The market value of a fixed income security may fall due to factors such as an increase to interest rates or concern about defaults on loans. This may result in a loss on your investment.

•The interest rate on a term deposit is fixed for its specified term. That means the return won’t be affected by a change in interest rates for the term of the deposit.

•Fixed income securities are usually included in a portfolio for their defensive characteristics.

Property securitiesInvesting in property securities will give your portfolio exposure to listed property securities in Australia and around the world. These are referred to as Real Estate Investment Trusts (REITs).

Things to consider:

•Returns are driven by many factors including the economic environment in various countries.

•Australian property securities are dominated by only a few REITs and provide limited diversification.

• Investing outside Australia means you’re exposed to exchange rate variations.

• Property securities may be volatile and are usually included in a portfolio for their income and growth characteristics.

A financial adviser can create a financial plan to help you manage risk and consider issues such as:

•how many years you have to invest

•the savings you’ll need to reach your goals

•the return you may expect from your investments, and

•how comfortable you are with volatility.



Australian sharesThis asset class consists of investments in companies listed on the Australian Securities Exchange (and other regulated exchanges). Shares are also known as equities.

Things to consider:

•The Australian share market has recently been dominated by a few industries such as Financials and Resources.

•Australian shares can be volatile and are usually included in a portfolio for their growth characteristics.

• Australian shares may provide dividend income and tax advantages through imputation (franking) credits.

Global sharesGlobal shares consist of investments in companies listed on securities exchanges around the world.

Things to consider:

•The number of potential investments is far greater than in Australian shares.


•When you invest globally, you’re less exposed to the risks associated with investing in just one economy.

• Investing outside Australia means you’re exposed to exchange rate variations.

•Global shares can be volatile and are usually included in a portfolio for their growth characteristics.

Private assetsThese are investments in assets that aren’t traded on listed exchanges. An example of this is an investment in a privately owned business.

Things to consider:

•Private assets are illiquid which makes them difficult to buy or sell.

•To access private assets you generally need to do so via a managed fund.

•Because private assets aren’t listed on an exchange, determining their value is difficult and may involve a considerable time lag. This means you need to be careful in interpreting the unit price of any fund with a substantial holding of private assets.


•You may be exposed to exchange rate variations.

•Private assets can be volatile and are usually included in a portfolio for their growth characteristics.

Investment techniquesInvestment managers, including MLC, use different investment techniques that can change the value of an investment.

Derivatives are an investment technique generally used in all the investment options.

DerivativesDerivatives are a common tool used to enhance returns or manage risk.

They are contracts that have a value derived from an external reference (eg the level of a share price index).

There are many types of derivatives and they can be an invaluable tool for an investment manager.

However, they can incur significant losses.

MLC’s Derivative Policy, which outlines how we manage derivatives, is available on mlc.com.au

How the other managers invest in derivatives is included in their Product Disclosure Statement available on mlc.com.au

And there are additional investment techniques used in some investment options. Where these techniques are used extensively, we’ve made a note of it from page 10 (under the relevant investment options).

Diversification across asset classes is just one way of managing risk. At MLC, we can diversify across asset classes and investment managers.

Please read more about our investment approach on page 8.

http://www.mlc.com.au/mlc/im_considering_mlc/personal/education_and_calculators/education_and_strategies/investments/causes_of_volatility

http://www.mlc.com.au/mlc/im_considering_mlc/personal/forms_and_brochures


These include:

Currency managementCurrency management is a form of hedging. If an investment manager invests in assets in other countries, the value will be affected by the exchange rate.

Returns from global investments reflect movements in currency exchange rates (gains and losses), as well as movements in the value of the underlying securities.

Where desired, this can largely be managed through hedging the currency exposure back to Australian dollars.

GearingGearing an investment through borrowing, or leverage by using derivatives, magnifies your exposure to the potential gains and losses and risks of an investment. As a result, you can expect larger fluctuations (both up and down) in the value of your investment (ie increased volatility), compared to the same investment which is not geared. And the less diversified the investment is across asset classes, investment managers and securities, the greater this potential volatility.

When asset values are rising by more than the costs of gearing, a geared investment will generally have a higher return than if it wasn’t geared. In rising markets it can be easy to lose sight of the risk of a fall. Falling values are inevitable from time to time and in a geared investment they are accentuated because exposure to the assets is higher. If the fall is dramatic there can be even more implications for geared investments.

For example, the lender requires the gearing level be maintained below a predetermined limit. If asset values fall dramatically, the gearing level may rise above the limit forcing assets to be sold when values may be continuing to fall.

In turn this could lead to more assets having to be sold and more losses realised. Withdrawals (and applications) may be suspended in such circumstances, preventing you from accessing your investments at a time when values continue to fall.

Although this is an extreme example, significant market falls have occurred in the past. Recovering from such falls can take many years and the geared investment’s unit price may not return to its previous high.

Other circumstances (such as the lender requiring the loan to be repaid for other reasons) may also prevent a geared investment from being managed as planned, leading to losses.

You need to be prepared for all types of environments and understand their impact on your geared investment.

Short-sellingShort-selling is used by an investment manager when it has a view that an asset’s price will fall. The manager borrows the asset and sells it with the intention of buying it back at a lower price. If all goes to plan, a profit is made. However, if the price of the asset increases, then the loss could be significant.

Ethical investingInvestment managers may take into account labour standards, environmental, social or ethical considerations when making decisions to buy or sell investments. At MLC, we expect our active investment managers to consider any material effect these factors may have on the returns from their investments, however we don’t require them to.

How much consideration the other managers give to these factors is included in their Product Disclosure Statement available on mlc.com.au

Want to know more?We’ve developed a lot of information on how we can help you grow and protect your wealth. Just talk to your financial adviser or visit mlc.com.au


mlc.com.au


Standard Risk MeasureThe description of each investment option includes a Standard Risk Measure. This enables investors to compare investment options using a simple measure of investment risk.

That measure is the estimated number of negative annual returns in any 20-year period. Of course, the number of negative years that occur in a 20-year period may be different to the estimated number.

The Standard Risk Measure categories are based on industry guidelines. The risk categories are:

The Standard Risk Measure is not a complete assessment of investment risk. For example:

• it doesn’t capture the size of a possible negative return or the potential for a positive return to be less than an investor may need to meet their investment objectives, and

• it doesn’t take into account the impact of administration fees and tax. These would increase the chance of a negative return.

There are many ways you, and your financial adviser, can assess the impact of risk on your investment strategy. You should make sure you’re comfortable with the risks and potential losses associated with the investment options you choose.

You can read about how we calculate the Standard Risk Measure at mlc.com.au

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




MLC’s approachto investing

We design investment solutions to deliver more reliable returns to investors.

For over 25 years, we’ve been designing portfolios to help investors achieve their goals.

The four key aspects of our unique investment approach are:

1 Portfolio designOur portfolios focus on what affects investor outcomes the most: asset allocation.

We allocate money between asset classes based on the following beliefs:

Diversification matters Asset classes perform differently in different circumstances, so we invest in many asset classes.

This helps us smooth the overall portfolio returns as we can offset the ups and downs of each asset class.

Risk can’t be avoided, but can be managedEach asset class has its own return and risk characteristics.

This becomes more obvious when you look at performance over a long period of time.

We consider potential market scenarios—both good and bad—to work out what combination of investments is likely to be rewarded.

The process also reveals how risk can change in different market environments.

This helps us prepare our portfolios for future market ups and downs.

Risks and returns vary through time

We have the flexibility to adjust our portfolios to exploit changes in risk and return potential. We base these adjustments on our three to seven-year assessment of the market environment.

2 Managing the portfolio Our portfolios have different investment objectives. That’s why each has a different mix of assets and managers.

Our managers may be specialist in-house managers, external investment managers or a blend.

We research hundreds of investment managers from around the world and select some of the best for our portfolios.

We then combine them in our portfolios so they complement each other.

You can find out about our current investment managers at mlc.com.au

3 Ongoing reviewTo make sure our portfolios are working hard for our investors, we continuously review and actively manage them.

We may adjust the asset allocation, investment strategies and managers.

This may be because our view of the future market environment has altered or because we have found new ways to balance risk and return in the portfolios.

4 Portfolio implementation We deliver better returns by avoiding unnecessary costs. We do this by carefully managing cash flows and changes in our portfolios.

Our knowledge of local tax requirements means our portfolios are sensitive to the needs of Australian investors.

The MLC differenceOur leading-edge approach to portfolio design recognises we live in a complex, changing world.

We constantly explore the many ways events could unfold in markets worldwide and their potential impact on our portfolios.

Through this careful analysis, our experts discover changing risks and opportunities. We can then adjust our portfolios to manage the risks and capture the potential returns.

This means our portfolios are better positioned to deliver more reliable long-term returns to investors.

http://www.mlc.com.au/mlc/im_considering_mlc/personal/investments/investment_options/mlc_managers



Investingwith MLC

Our portfolios make sophisticated investing straightforward.

We base our portfolios on the fundamental needs of our investors; to grow wealth for the long term.

MLC portfoliosWhen you’re invested in an MLC portfolio, your money is with Australia’s largest and most experienced multi-manager.

Each portfolio uses the MLC approach to investing and benefits from our leading-edge portfolio design process, our manager research capability, and our experience and knowledge of investing.

MLC Horizon Series of portfolios

We designed the MLC Horizon Series of portfolios so you can select an expected risk and return profile to meet your needs.

This comprehensive series of portfolios means, wherever you are in life, you can choose an investment solution to suit you.

Each MLC Horizon portfolio brings together a specific combination of assets and managers and is an easy way to gain access to sophisticated investments. This way you can implement your financial plan with confidence.

MLC asset class portfoliosYou may decide to implement your investment strategy using our asset class portfolios.

These portfolios invest in one asset class and cater for people looking for a complete asset class solution, or a particular investment style.

MLC Index Plus portfoliosWe combine our innovative approach to asset allocation with a smaller set of managers in our Index Plus portfolios. These portfolios mainly consist of index managers that aim to provide similar returns to the market.

MLC Long-Term Absolute Return Portfolio This portfolio goes beyond conventional investing.

It accesses more sources of return and an even broader range of assets and strategies than the MLC Horizon Series of portfolios.

Cash and term depositsWe also offer a range of term deposits and the MLC Cash Fund as a cash option.

Investment options not managed by MLCWe recognise some investors want extra options when it comes to managing their money.

To help give you this choice, we also offer investment options not managed by MLC.


MLC Horizon Seriesof portfolios

Investment objectiveEach portfolio aims to grow your wealth for an expected level of risk.

About the investment optionsWhere you are in life, and what your investment goals are, will influence the kind of investment you choose.

We designed the MLC Horizon Series of portfolios with this in mind as each portfolio offers a different risk and return expectation. So whatever your circumstances are now, and as they change over time, you can choose the portfolio to suit your specific needs.

At the lower end of the risk and return potential is MLC Horizon 1. This invests in defensive assets such as fixed income and cash. At the higher end of the risk and return potential is MLC Horizon 7 which gears its investment into growth assets such as shares.

The portfolios use all aspects of our approach to investing described on page 8. They’re actively managed and broadly diversified within asset classes, across asset classes and across investment managers. These managers invest in many companies and securities around the world.

The main asset classes are described on pages 4 and 5.


MLC Horizon 1 Bond Portfolio

MLC Horizon 2 Capital Stable Portfolio


MLC Horizon 4 Balanced Portfolio

The investment option may be suited to you if …

•You want to invest almost entirely in defensive assets

•You give priority to preserving your capital

•You want to invest with a bias to defensive assets, with some exposure to growth assets

•Preserving your capital is an important but not overriding concern

•You want to invest in an approximately equal mix of defensive and growth assets

•You want a portfolio with some long-term capital growth potential and can tolerate moderate changes in value

•You choose MLC MasterKey Investment Protection

•You want to invest with a bias to growth assets

•You want a portfolio with a bias towards long-term capital growth potential and can tolerate moderate to large changes in value


Minimum suggested time to invest Two years Three years Five years Six years

Target allocation of $1,000 (at 30 June 2012)

n Cash $250 n Australian fixed income $408n Global fixed income $342Defensive $1, 000

n Cash $105 n Australian fixed income $379n Global fixed income $211Defensive $695n Australian shares $110n Global shares (hedged) $10n Global shares (unhedged) $130n Global property securities (hedged) $20n Global private assets (hedged) $20n Other $15Growth $305

n Cash $55 n Australian fixed income $274 n Global fixed income $166Defensive $495n Australian shares $210n Global shares (hedged) $10n Global shares (unhedged) $180n Global property securities (hedged) $30n Global private assets (hedged) $40n Other $35Growth $505


We may adjust the target allocation within these ranges

Defensive 95–100% Growth 0–5%




Estimated number of negative annual returns

Very low, less than 1 year in 20 Low to medium, 1 and 2 years in 20 Medium to high, between 3 and 4 years in 20 High, 4 years in 20

Indicative investment fee (% pa) 0.52 0.60 0.65 0.70

Transaction cost allowance Entry/Exit (%) Nil/Nil 0.05/0.05 0.05/0.05 0.10/0.10



MLC Horizon 1 Bond Portfolio

MLC Horizon 2 Capital Stable Portfolio




•You want to invest almost entirely in defensive assets

•You give priority to preserving your capital

•You want to invest with a bias to defensive assets, with some exposure to growth assets

•Preserving your capital is an important but not overriding concern







Minimum suggested time to invest Two years Three years Five years Six years


n Cash $250 n Australian fixed income $408n Global fixed income $342Defensive $1, 000










Very low, less than 1 year in 20 Low to medium, 1 and 2 years in 20 Medium to high, between 3 and 4 years in 20 High, 4 years in 20


Transaction cost allowance Entry/Exit (%) Nil/Nil 0.05/0.05 0.05/0.05 0.10/0.10



MLC Horizon 5 Growth Portfolio

MLC Horizon 6 Share Portfolio

MLC Horizon 7 Accelerated Growth Portfolio


•You want to invest with a strong bias to growth assets

•You want a portfolio with a strong bias towards long-term capital growth potential and can tolerate moderate to large changes in value


•You want to invest in growth assets

•You want a portfolio focussed on long-term capital growth potential and can tolerate large changes in value

•You want a portfolio focussed on long-term capital growth•You want to gear a portfolio of growth assets but don’t want the burden of obtaining and managing your own loan•You expect growth in the assets’ value to exceed the costs of gearing•You’re comfortable with the risks of gearing including extra volatility and increased risk of capital loss, outlined on page 6. You understand

that at its target gearing level (described below), the Portfolio’s unit price would fall to zero if its asset values fell suddenly by 77%. Lesser falls may cause substantial reductions in unit prices which may trigger the suspension of withdrawals and applications

Minimum suggested time to invest Seven years Seven years Ten years



n Australian shares $410n Global shares (hedged) $110n Global shares (unhedged) $350n Global property securities (hedged) $20n Global private assets (hedged) $70n Other $40Growth $1,000

n Australian shares $520n Global shares (hedged) $220n Global shares (unhedged) $430n Global private assets (hedged) $80n Other $50n Borrowing -$300

Target gearing levelAs at 30 June 2012, for every $1,000 you have invested, the Portfolio targets borrowings of $300. The actual gearing level changes every day. That’s why we monitor the Portfolio’s actual gearing level against its target and regularly move the borrowings back to the target level.

Seeking to maintain the target gearing level involves adjusting the borrowings as well as buying and selling assets. This increased trading will incur transaction costs and realise tax gains and losses.

We may change the target gearing level without prior notice to you.

In some circumstances it is possible that the Portfolio may not be geared for a, potentially extended, period of time.

Target gearing levels are available on mlc.com.au. You should check this to ensure you are comfortable with the target gearing level prior to investing in the Portfolio.




Growth 100–135% Amounts invested above 100% are made by borrowing. In extreme market conditions the amount invested may exceed 135%.


High, between 4 and 5 years in 20 High, 5 years in 20 High, between 5 and 6 years in 20

Indicative investment fee (% pa) 0.73 0.77 1.00 Gearing costs aren’t included in the Indicative investment fee. They’re paid from the Portfolio’s assets and reflected in the unit price.

Transaction cost allowance Entry/Exit (%) 0.10/0.10 0.15/0.10 0.15/0.15

http://www.mlc.com.au/mlc/im_considering_mlc/personal/investments


MLC Horizon 5 Growth Portfolio

MLC Horizon 6 Share Portfolio

MLC Horizon 7 Accelerated Growth Portfolio





•You want to invest in growth assets

•You want a portfolio focussed on long-term capital growth potential and can tolerate large changes in value

•You want a portfolio focussed on long-term capital growth•You want to gear a portfolio of growth assets but don’t want the burden of obtaining and managing your own loan•You expect growth in the assets’ value to exceed the costs of gearing•You’re comfortable with the risks of gearing including extra volatility and increased risk of capital loss, outlined on page 6. You understand

that at its target gearing level (described below), the Portfolio’s unit price would fall to zero if its asset values fell suddenly by 77%. Lesser falls may cause substantial reductions in unit prices which may trigger the suspension of withdrawals and applications

Minimum suggested time to invest Seven years Seven years Ten years



n Australian shares $410n Global shares (hedged) $110n Global shares (unhedged) $350n Global property securities (hedged) $20n Global private assets (hedged) $70n Other $40Growth $1,000

n Australian shares $520n Global shares (hedged) $220n Global shares (unhedged) $430n Global private assets (hedged) $80n Other $50n Borrowing -$300

Target gearing levelAs at 30 June 2012, for every $1,000 you have invested, the Portfolio targets borrowings of $300. The actual gearing level changes every day. That’s why we monitor the Portfolio’s actual gearing level against its target and regularly move the borrowings back to the target level.

Seeking to maintain the target gearing level involves adjusting the borrowings as well as buying and selling assets. This increased trading will incur transaction costs and realise tax gains and losses.

We may change the target gearing level without prior notice to you.

In some circumstances it is possible that the Portfolio may not be geared for a, potentially extended, period of time.

Target gearing levels are available on mlc.com.au. You should check this to ensure you are comfortable with the target gearing level prior to investing in the Portfolio.




Growth 100–135% Amounts invested above 100% are made by borrowing. In extreme market conditions the amount invested may exceed 135%.


High, between 4 and 5 years in 20 High, 5 years in 20 High, between 5 and 6 years in 20

Indicative investment fee (% pa) 0.73 0.77 1.00 Gearing costs aren’t included in the Indicative investment fee. They’re paid from the Portfolio’s assets and reflected in the unit price.

Transaction cost allowance Entry/Exit (%) 0.10/0.10 0.15/0.10 0.15/0.15



MLC asset class portfolios

Fixed income Property securities

MLC Diversified Debt Fund MLC Property Securities Fund MLC Global Property Fund

Investment objective The fund is designed to be a complete portfolio for the fixed income asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

Investment objective The fund is designed to be a complete portfolio for the Australian property securities asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

The fund is designed to be a complete portfolio for the global property securities asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

About the investment option The Fund is diversified across different types of fixed income securities in Australia and around the world. The securities are predominantly investment grade and typically longer dated. The average term to maturity is normally in the range of three to six years.

Foreign currency exposures will generally be substantially hedged to the Australian dollar.

As a result of capital restructures of bond issuers, the Fund may have an incidental exposure to shares from time to time.

About the investment option The Fund invests primarily in Australian property securities, including listed Real Estate Investment Trusts and companies across most major listed property sectors. It does not normally invest in direct property, but may have some exposure to property securities listed outside of Australia from time to time.


The Fund invests primarily in property securities around the world, including listed Real Estate Investment Trusts and companies across most major listed property sectors. It does not normally invest in direct property.



You want to invest in a defensive portfolio that’s actively managed and diversified across investment managers, countries, bond sectors and securities.


You want to invest in an actively managed property securities portfolio that invests in Australia, with some global exposure, and diversifies across property sectors and REITs.

•You want to invest in an actively managed global property securities portfolio that’s diversified across investment managers, countries, property sectors and REITs.

•You don’t want foreign currency exposure.

Minimum suggested time to invest

Three to five years Minimum suggested time to invest

Seven years Seven years

Target allocation (at 30 June 2012)

48% Australian fixed income52% Global fixed income


85–100% Australian property securities

0–15% Global property securities

100% Global property securities

How you can assess performance

One way you can assess the performance of this fund is against its market benchmark over the long term. When making this assessment, be aware that the market benchmark doesn’t take into account fees and taxes that may apply to your account.




Market benchmark 50% UBS Composite Bond Index (All Maturities) & 50% Barclays Global Aggregate Bond Index (hedged into Australian dollars)

Market benchmark S&P/ASX 300 A-REIT Accumulation Index FTSE EPRA/NAREIT Global Developed Index (hedged into Australian dollars)


Low to medium, between 1 and 2 years in 20 Estimated number of negative annual returns

High, between 5 and 6 years in 20 High, between 4 and 5 years in 20

Indicative investment fee (% pa) 0.50 Indicative investment fee (% pa) 0.67 0.87

Transaction cost allowance Entry/Exit (%)

Nil/Nil Transaction cost allowance Entry/Exit (%)

0.15/0.15 0.25/0.15


Fixed income Property securities

MLC Diversified Debt Fund MLC Property Securities Fund MLC Global Property Fund

Investment objective The fund is designed to be a complete portfolio for the fixed income asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

Investment objective The fund is designed to be a complete portfolio for the Australian property securities asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

The fund is designed to be a complete portfolio for the global property securities asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

About the investment option The Fund is diversified across different types of fixed income securities in Australia and around the world. The securities are predominantly investment grade and typically longer dated. The average term to maturity is normally in the range of three to six years.


As a result of capital restructures of bond issuers, the Fund may have an incidental exposure to shares from time to time.

About the investment option The Fund invests primarily in Australian property securities, including listed Real Estate Investment Trusts and companies across most major listed property sectors. It does not normally invest in direct property, but may have some exposure to property securities listed outside of Australia from time to time.


The Fund invests primarily in property securities around the world, including listed Real Estate Investment Trusts and companies across most major listed property sectors. It does not normally invest in direct property.



You want to invest in a defensive portfolio that’s actively managed and diversified across investment managers, countries, bond sectors and securities.


You want to invest in an actively managed property securities portfolio that invests in Australia, with some global exposure, and diversifies across property sectors and REITs.

•You want to invest in an actively managed global property securities portfolio that’s diversified across investment managers, countries, property sectors and REITs.



Three to five years Minimum suggested time to invest

Seven years Seven years


48% Australian fixed income52% Global fixed income


85–100% Australian property securities

0–15% Global property securities

100% Global property securities






Market benchmark 50% UBS Composite Bond Index (All Maturities) & 50% Barclays Global Aggregate Bond Index (hedged into Australian dollars)

Market benchmark S&P/ASX 300 A-REIT Accumulation Index FTSE EPRA/NAREIT Global Developed Index (hedged into Australian dollars)


Low to medium, between 1 and 2 years in 20 Estimated number of negative annual returns


Indicative investment fee (% pa) 0.50 Indicative investment fee (% pa) 0.67 0.87


Nil/Nil Transaction cost allowance Entry/Exit (%)

0.15/0.15 0.25/0.15


Australian shares

MLC Australian Share Fund MLC Australian Share Growth Style Fund

MLC Australian Share Value Style Fund

MLC IncomeBuilder

Investment objective The fund is designed to be a complete portfolio for the Australian shares asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

The fund aims to deliver growth by using investment managers that invest and diversify across many companies and securities within the Australian shares asset class.


Aims to provide returns from companies that are expected to deliver a growing dividend stream over time.

About the investment option The Fund invests primarily in companies listed (or expected to be listed) on the Australian Securities Exchange (and other regulated exchanges), and is typically diversified across major listed industry groups. It may have a small exposure to companies listed outside of Australia from time to time.

The Fund invests primarily in companies listed (or expected to be listed) on the Australian Securities Exchange (and other regulated exchanges). It may have a small exposure to companies listed outside of Australia from time to time.

We primarily use investment managers that have an investment style focusing on companies that are expected to have strong earnings growth.


We primarily use investment managers that have an investment style focusing on companies that they believe are undervalued in relation to their earning potential.

The Fund invests primarily in Australian companies that have the potential to provide future growth in dividends.

The Fund is expected to generate tax-effective returns by:

• investing in companies expected to have high franking levels, and

•carefully managing the realisation of capital gains.

The Fund is expected to provide returns consistent with investing in a broad range of Australian companies.


You want to invest in an actively managed Australian share portfolio that’s diversified across investment managers, industries and companies.

You want to invest in an actively managed, growth biased, Australian share portfolio that’s diversified across investment managers, industries and companies.

You want to invest in an actively managed, value biased, Australian share portfolio that’s diversified across investment managers, industries and companies.

You want to invest in shares in Australian companies that are expected to deliver a growing dividend stream over time.

Minimum suggested time to invest Seven years Seven years Seven years Seven years


100% Australian shares 100% Australian shares 100% Australian shares 100% Australian shares

How you can assess performance One way you can assess the performance of this fund is against its market benchmark over the long term. When making this assessment, be aware that the market benchmark doesn’t take into account fees and taxes that may apply to your account.



You can assess performance based on the annual growth in dividends received from the underlying companies.

Market benchmark S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index Not applicable


High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 Very high, 6 years in 20



0.20/0.20 0.20/0.20 0.15/0.15 0.15/0.15

MLC asset classportfolios


Australian shares

MLC Australian Share Fund MLC Australian Share Growth Style Fund

MLC Australian Share Value Style Fund

MLC IncomeBuilder

Investment objective The fund is designed to be a complete portfolio for the Australian shares asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.



Aims to provide returns from companies that are expected to deliver a growing dividend stream over time.

About the investment option The Fund invests primarily in companies listed (or expected to be listed) on the Australian Securities Exchange (and other regulated exchanges), and is typically diversified across major listed industry groups. It may have a small exposure to companies listed outside of Australia from time to time.





The Fund invests primarily in Australian companies that have the potential to provide future growth in dividends.

The Fund is expected to generate tax-effective returns by:

• investing in companies expected to have high franking levels, and

•carefully managing the realisation of capital gains.

The Fund is expected to provide returns consistent with investing in a broad range of Australian companies.


You want to invest in an actively managed Australian share portfolio that’s diversified across investment managers, industries and companies.

You want to invest in an actively managed, growth biased, Australian share portfolio that’s diversified across investment managers, industries and companies.

You want to invest in an actively managed, value biased, Australian share portfolio that’s diversified across investment managers, industries and companies.

You want to invest in shares in Australian companies that are expected to deliver a growing dividend stream over time.



100% Australian shares 100% Australian shares 100% Australian shares 100% Australian shares




You can assess performance based on the annual growth in dividends received from the underlying companies.

Market benchmark S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index Not applicable





0.20/0.20 0.20/0.20 0.15/0.15 0.15/0.15


MLC asset classportfolios

Global shares

MLC Global Share Fund MLC Hedged Global Share Fund

MLC Global Share Growth Style Fund

MLC Global Share Value Style Fund

Investment objective The fund is designed to be a complete portfolio for the global shares asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

The fund is designed to be a complete portfolio for the global shares asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

The fund aims to deliver growth by using investment managers that invest and diversify across many companies and securities within the global shares asset class.


About the investment option The Fund invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world, and is typically diversified across major listed industry groups.

Foreign currency exposures will generally not be hedged to the Australian dollar.

The Fund invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world, and is typically diversified across major listed industry groups.


The Fund invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world.







•You want to invest in an actively managed global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.

•You’re comfortable having foreign currency exposure.



•You want to invest in an actively managed, growth biased, global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.


•You want to invest in an actively managed, value biased, global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.




100% Global shares 100% Global shares 100% Global shares 100% Global shares





Market benchmark MSCI All Country World Index MSCI All Country World Index (hedged into Australian dollars)

MSCI All Country World Index MSCI All Country World Index


High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20



0.10/0.10 0.10/0.10 0.15/0.10 0.10/0.05


Global shares

MLC Global Share Fund MLC Hedged Global Share Fund

MLC Global Share Growth Style Fund

MLC Global Share Value Style Fund

Investment objective The fund is designed to be a complete portfolio for the global shares asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.

The fund is designed to be a complete portfolio for the global shares asset class, and aims to deliver growth by using investment managers that invest and diversify across many companies and securities within that asset class.



About the investment option The Fund invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world, and is typically diversified across major listed industry groups.


The Fund invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world, and is typically diversified across major listed industry groups.













•You want to invest in an actively managed, growth biased, global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.


•You want to invest in an actively managed, value biased, global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.




100% Global shares 100% Global shares 100% Global shares 100% Global shares





Market benchmark MSCI All Country World Index MSCI All Country World Index (hedged into Australian dollars)

MSCI All Country World Index MSCI All Country World Index


High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20



0.10/0.10 0.10/0.10 0.15/0.10 0.10/0.05



MLC Index Plus Balanced Portfolio

MLC Index Plus Growth Portfolio











Minimum suggested time to invest Five years Six years Seven years


n Cash – active $50 n Australian fixed income – active $286n Global fixed income – active $164Defensive $500n Australian shares – index $210n Global shares (hedged) – index $70n Global shares (unhedged) – index $190n Global property securities (hedged)

– index $30Growth $500

n Australian fixed income – active $189n Global fixed income – active $111Defensive $300n Australian shares – index $320n Global shares (hedged) – index $110n Global shares (unhedged) – index $230n Global property securities (hedged)









Medium to high, between 3 and 4 years in 20 High, between 4 and 5 years in 20 High, between 4 and 5 years in 20

Indicative investment fee (% pa) 0.38 0.40 0.42


0.05/0.05 0.10/0.10 0.10/0.10

MLC Index Plus portfolios

Investment objectiveEach portfolio aims to grow your wealth for an expected level of risk.

About the investment optionsEach MLC Index Plus portfolio offers a diversified investment solution. They are designed using all aspects of our approach to investing, except they have a greater focus on:

• investing in conventional asset classes (described on pages 4 and 5) and

• index (passive) rather than active managers (as shown in target allocation)

We expect index managers to provide similar returns to the market (before taking into account fees and taxes).




MLC Index Plus Growth Portfolio











Minimum suggested time to invest Five years Six years Seven years


n Cash – active $50 n Australian fixed income – active $286n Global fixed income – active $164Defensive $500n Australian shares – index $210n Global shares (hedged) – index $70n Global shares (unhedged) – index $190n Global property securities (hedged)











Medium to high, between 3 and 4 years in 20 High, between 4 and 5 years in 20 High, between 4 and 5 years in 20

Indicative investment fee (% pa) 0.38 0.40 0.42


0.05/0.05 0.10/0.10 0.10/0.10


MLC Long-Term Absolute Return Portfolio

MLC Long-Term Absolute Return Portfolio

Investment objective Aims to maximise its return (above inflation, and after deducting investment fees and tax) over rolling 20-year periods, while ensuring a high likelihood of it being positive over that timeframe.

About the investment option The Portfolio is designed using three steps:

1. It invests broadly across asset classes, many of which are unconventional (eg insurance related investments, private assets and inflation-linked bonds). This reduces its dependency on a single source of return. While investing in shares will generally be an important part of the Portfolio’s strategy, its exposure to the Australian share market shouldn’t dominate.

The Portfolio also uses a number of investment managers that aren’t limited to just one asset class, and may apply short-selling techniques to enhance returns. Over time, the Portfolio may take advantage of a variety of investment opportunities as they arise.

2. This diversified strategy is then geared in order to meet its 20-year objective.

3. We then take this strategy and adjust it to exploit swings in return and risk potential. We base these adjustments on our three to seven-year assessment of the market environment.

The resulting target asset allocation is shown on the following page.

The Portfolio invests significantly in assets that can’t easily be sold. And it may be significantly geared (it’s allowed to invest up to $1,000 for every $1,000 you invest, and in extreme market conditions this level of gearing may be exceeded). The combination of these facts means that, from time to time, we may suspend your ability to put money into or take money out of the Portfolio. For this reason, you’re only allowed to hold up to 25% of your pension account in this Portfolio.


You want to:

• take a genuinely long-term investment approach

• focus on achieving returns above inflation, and can tolerate significant short-term volatility to achieve those returns

•access the benefits of a geared portfolio and are comfortable with the risks of gearing including extra volatility and increased risk of capital loss, outlined on page 6 and below

•diversify across a wider range of asset classes, and

•access long-term and/or unconventional asset classes and investment strategies while accepting that such strategies may take years to reward you.

And you’re willing to accept:

•both financially and emotionally, that the Portfolio may have substantially different returns to other investments

• the Portfolio may be illiquid for some time, potentially years, and

•at its target gearing level (at 30 June 2012) the Portfolio’s unit price would theoretically fall to zero if its asset values fell suddenly by 92%. Lesser falls may cause substantial reductions in unit prices which may trigger the suspension of withdrawals and applications.

Minimum suggested time to invest Seven to ten years



n Global shares (unhedged) $120

n Australian shares $80

n Defensive global shares (unhedged) $300

n Emerging markets strategy (unhedged) $150

n Global private assets (hedged) $100

n Australian inflation linked bonds $30

n Multi-asset real return strategy (hedged) $150

n Insurance related investments (hedged) $80

n Hedge fund $70

n Borrowing -$80

Growth $1,000

The asset allocation and gearing level may have changed substantially from this.

Please see the latest information on mlc.com.au


High, 5 years in 20

Indicative investment fee (% pa) 1.50


0.10/0.10



Cash and term deposits

MLC Cash Fund NAB Term Deposits

Investment objective Aims to provide competitive returns relative to the Reserve Bank of Australia’s Cash Rate Target.

The interest rate on a term deposit is fixed for the term you select.

About the investment option The Fund invests in deposits with banks (100% National Australia Bank as at 30 June 2012) and may also invest in other comparable high quality securities.

MLC Limited guarantees the value of your investment in the MLC Cash Fund (before the deduction of tax and fees).

You can select a six month, one year or two year term. You can find current interest rates on mlc.com.au

How much you can investYou can invest up to 70% of your account balance in term deposits. You can’t invest once you reach the age of 90 or as part of a regular contribution strategy.

Term deposits are invested for a fixed term. Early withdrawals are only permitted in extreme circumstances and will result in reduced interest.

Maintaining your account balanceWhen you invest in term deposits, you’ll also need to make sure you maintain at least 10% of each of your super and pension account balances in other investment options (not term deposits).

This allows us to process your withdrawal requests and pension payments and also pay fees and other costs for your account. If you make a one-off withdrawal request which would make your account balance fall below this 10% minimum, then we may not process it.

How interest is paidInterest will be paid into your nominated investment option on maturity. Interest on the two year term is paid annually on the anniversary into the MLC Cash Fund with the remaining interest paid on maturity.


You want to invest in a low risk cash portfolio. You want to achieve a fixed rate of return for a set period.


No minimum Fixed for the term you select.

Target allocation (as at 30 June 2012)

100% Cash 100% Fixed income securities

Market benchmark Reserve Bank of Australia’s Cash Rate Target Not applicable


Low, less than 1 year in 20 Low, less than 1 year in 20

Indicative investment fee (% pa)

0.25 N/A


Nil/Nil N/A / N/A

http://www.mlc.com.au/mlc/im_considering_mlc/personal/investments/investment_options/mlc_cash_fund/cash_and_term_deposit_rates


Investment options not managed by MLC

These are single asset class investment options from other managers.

We recognise some investors want extra options when it comes to managing their money.

To help you do this, we offer options from other managers that don’t use MLC’s approach to investing, for you and your financial adviser to choose from.

We’ve provided an overview of each manager’s investment objective and their investment approach. You can find further details on each investment option in the managers’ Product Disclosure Statement on mlc.com.au

The indicative investment fees will include any costs incurred by MLC and rebates from the managers.

If you’re considering investing in only these investment options, you will need to be careful as your portfolio may not be adequately diversified.




Fixed income

Vanguard® Australian Fixed Interest Index Fund

Vanguard® International Fixed Interest Index Fund (Hedged)

Investment objective To track the return (income and capital appreciation) of the UBS Australian Composite Bond Index before taking into account fund fees, expenses and tax.

To track the return (income and capital appreciation) of the Barclays Global Treasury Index hedged into Australian dollars before taking into account fund fees, expenses and tax.

About the investment option

The UBS Australian Composite Bond Index is a value-weighted index of approximately 360 securities (bonds) issued by the Commonwealth Government of Australia, State Government authorities and treasury corporations, as well as investment-grade corporate issuers. Investment-grade issuers are defined as those rated BBB- or higher by Standard & Poor’s or Baa3 or higher by Moody’s. Bond indices change far more quickly than share indices because bonds have a finite life (maturity). Every maturity and inclusion of new issues changes the composition of the index and requires Vanguard to modify the portfolio.

A representative sample of bonds is selected from the Index to form the portfolio. Bond indices change far more quickly than share indices because bonds have a finite life (maturity). Every maturity and inclusion of new issues changes the composition of the index and requires Vanguard to modify the portfolio.


You want a steady and reliable income stream and you have a medium-term investment horizon.

You want to invest in an index global fixed income fund.


Three years Five years

Target asset allocation 100% Australian fixed interest 100% International fixed interest (hedged)

Market benchmark UBS Australian Composite Bond Index Barclays Global Treasury Index hedged into Australian dollars


Medium to high, between 3 and 4 years in 20 Medium, between 2 and 3 years in 20


0.39 0.44


0.15/0.15 0.15/0.15


Property securities

Legg Mason Property Securities Trust

Vanguard® Australian Property Securities Index Fund

Investment objective To provide before fees and taxes a return of 1.5% pa, in excess of the S&P/ASX 300 A-REIT Accumulation Index over rolling three-year periods.

To track the return (income and capital appreciation) of the S&P/ASX 300 A-REIT Index before taking into account fund fees, expenses and tax.


The Fund invests in a diversified portfolio of listed property trusts and property related listed equities. The investment process is based on long-term cash flow based analysis and bottom-up selection. Key factors considered include asset quality, leasing and financing structures, development, risks and the quality of the management team.

The S&P/ASX 300 A-REIT Index comprises between 20 and 30 property securities (shares) listed on the Australian Securities Exchange (ASX). The number of securities in the index may vary from time to time. These securities are real estate investment trusts and companies that own real estate assets and derive a significant proportion of their revenue from rental income. The Fund will hold all of the securities in the index most of the time, allowing for individual security weightings to vary marginally from the index from time to time. The Fund may invest in securities that have been removed from or are expected to be included in the index.


You want to invest in an active Australian property securities fund.

You want long-term capital growth, some tax-effective income, and you have a higher tolerance for the risks associated with share market volatility.


Three years Five years

Target asset allocation 100% Australian property securities 100% Australian property securities

Market benchmark S&P/ASX 300 A-REIT Accumulation Index S&P/ASX 300 A-REIT Index




0.72 0.44


0.28/0.28 0.15/0.15



Australian shares

Antares Elite Opportunities Fund Antares High Growth Shares Fund Arnhem Australian Equity Fund

Investment objective To outperform the S&P/ASX 200 Accumulation Index by 4% pa (before fees) over a rolling five-year period.

To outperform the S&P/ASX 200 Accumulation Index by 5% pa (before fees) over a rolling five-year period.

To provide investors with capital appreciation over the medium term (five years) by investing in Australian listed securities.

About the investment option The Fund invests in an actively managed and highly concentrated portfolio of Australian shares.

The Fund takes large positions in up to 30 companies. Generally 80% of the portfolio will be invested in companies identified as having the potential to offer significant long-term value. The remaining 20% may be invested in shorter term opportunities as identified.

Antares is wholly owned by the NAB Group.

The Fund invests in a diversified portfolio of Australian shares and uses a range of investment techniques such as short selling, enhanced long positions and active trading, aimed at enhancing returns.

The Fund can hold short positions in shares up to 25% of the value of the Fund’s net assets. The Fund can use the proceeds from short selling to make additional investments in other shares up to 25% of the value of the Fund’s net assets giving the Fund a gross market exposure up to a maximum of 150% and net exposure of between 90–100%.


The Fund seeks to be fully invested in 30 to 40 companies that have strong or leading positions in structurally attractive, growing industries and above-average sustainable earnings growth. Risk is managed by favouring these companies over those that are in declining or unprofitable industries.


You are willing to accept higher risk in exchange for the potential to earn greater investment returns than the broader Australian equity market.


You want to invest in an active Australian equities fund.


At least five years At least five years At least five years

Target asset allocation 95–100% Australian shares 0–5% Cash and short-term securities

90–100% Australian shares

0–10% Cash and short term securities95–100% Australian shares 0–5% Cash and cash equivalents

Market benchmark S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index


Very high, 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20


Management fee (% pa) 0.70 Estimated performance fee (% pa) 0.00


The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information refer to this investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.

Management fee 1.00Estimated performance fee (%pa) 0.00

Indicative investment fee (%pa) 1.00

The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information refer to the investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.

0.77


0.15/0.15 0.15/0.15 0.30/0.30

http://www.mlc.com.au/mlc/im_considering_mlc/personal/forms_and_brochures%3FviewMode%3DProductType%26channel%3D4b2e52a5cbd2b210VgnVCM10000099c73c9bRCRD

http://www.mlc.com.au/mlc/im_considering_mlc/institutional/footer_tools/about_mlc/annual_reports




Australian shares

Antares Elite Opportunities Fund Antares High Growth Shares Fund Arnhem Australian Equity Fund

Investment objective To outperform the S&P/ASX 200 Accumulation Index by 4% pa (before fees) over a rolling five-year period.

To outperform the S&P/ASX 200 Accumulation Index by 5% pa (before fees) over a rolling five-year period.

To provide investors with capital appreciation over the medium term (five years) by investing in Australian listed securities.

About the investment option The Fund invests in an actively managed and highly concentrated portfolio of Australian shares.

The Fund takes large positions in up to 30 companies. Generally 80% of the portfolio will be invested in companies identified as having the potential to offer significant long-term value. The remaining 20% may be invested in shorter term opportunities as identified.


The Fund invests in a diversified portfolio of Australian shares and uses a range of investment techniques such as short selling, enhanced long positions and active trading, aimed at enhancing returns.

The Fund can hold short positions in shares up to 25% of the value of the Fund’s net assets. The Fund can use the proceeds from short selling to make additional investments in other shares up to 25% of the value of the Fund’s net assets giving the Fund a gross market exposure up to a maximum of 150% and net exposure of between 90–100%.


The Fund seeks to be fully invested in 30 to 40 companies that have strong or leading positions in structurally attractive, growing industries and above-average sustainable earnings growth. Risk is managed by favouring these companies over those that are in declining or unprofitable industries.




You want to invest in an active Australian equities fund.


At least five years At least five years At least five years

Target asset allocation 95–100% Australian shares 0–5% Cash and short-term securities


0–10% Cash and short term securities95–100% Australian shares 0–5% Cash and cash equivalents

Market benchmark S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX 200 Accumulation Index


Very high, 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20





Management fee 1.00Estimated performance fee (%pa) 0.00

Indicative investment fee (%pa) 1.00

The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information refer to the investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.

0.77


0.15/0.15 0.15/0.15 0.30/0.30







Australian shares

Ausbil Australian Emerging Leaders Fund

Fairview Equity Partners Emerging Companies Fund

Investors Mutual Australian Share Fund

MLC-Vanguard Australian Share Index Fund

Northward Capital Australian Equity Trust

Investment objective To provide returns above the benchmark over the medium to long term, before fees and tax.

To provide long-term capital growth and some income by investing primarily in a diverse portfolio of smaller companies listed, or expected to be listed, on the Australian Securities Exchange.

To outperform the S&P/ASX 300 Accumulation Index over rolling four-year periods, after taking into account fees, but before tax.

Aims to match the return of the S&P/ASX 200 Accumulation Index, before taking into account fees, expenses and tax.

To outperform the S&P/ASX 300 Accumulation Index, over rolling three-year periods after fees and expenses.

About the investment option The Fund aims to invest in mid and small cap stocks which possess potential for superior growth. Ausbil believes that a company’s share price ultimately follows earnings (and earnings revisions). At all times the Fund will favour sectors and specific companies which it believes will experience positive earnings revisions.

Fairview aims to achieve returns above its benchmark through its core active investment process. This approach is collaborative and research driven, combining high levels of company contact, detailed analysis, a robust peer review process and appropriate risk controls.

The NAB group holds a minority interest in Fairview.

Invests in a diversified portfolio of high quality Australian companies that display four characteristics: a sustainable competitive advantage, recurring earnings, capable management and the ability to grow over time. Investors Mutual Limited believes in purchasing quality companies at attractive prices when a company’s price is below its long-term value.

A representative sample of shares is selected from the Index to form the portfolio. Individual security weightings may vary marginally from the Index from time to time. The Fund may invest in securities that have been, or are expected to be, included in the Index.

Northward believes that a disciplined, fundamental research approach to identify undervalued quality companies will generate strong investment returns over the long term. Investment opportunities are identified using a multi portfolio manager investment approach driven by rigorous bottom-up company research.

The NAB group holds a minority interest in Northward.


You seek exposure to mid and small Australian equities.

You wish to benefit from an actively managed Australian smaller companies equity portfolio managed by a specialist boutique investment manager.

You want to invest in an active Australian shares fund.

You want to invest in a portfolio of Australian shares that produces similar returns to the market.

You wish to benefit from an actively managed Australian equity portfolio managed by a specialist boutique investment manager.


Five years Five years or more Five years Seven years At least five years

Target asset allocation 90–100% Australian shares 0–10% Cash

90–100% Australian shares 0–10% Cash


100% Australian shares 90–100% Australian shares

0–10% Cash and cash equivalents

Market benchmark 70% S&P/ASX Midcap 50 Index

30% S&P/ASX Small Ordinaries Accumulation Index

S&P/ASX Small Ordinaries Accumulation Index S&P/ASX 300 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX 300 Accumulation Index


High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 Very high, 6 years in 20 High, between 5 and 6 years in 20




The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information, refer to this investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.




0.92 0.27 Management fee (% pa) 0.85Estimated performance fee (% pa) 0.00


The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For information refer to this investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.


0.30/0.30 0.30/0.30 0.25/0.25 0.05/0.05 0.25/0.25


Australian shares

Ausbil Australian Emerging Leaders Fund

Fairview Equity Partners Emerging Companies Fund

Investors Mutual Australian Share Fund

MLC-Vanguard Australian Share Index Fund

Northward Capital Australian Equity Trust

Investment objective To provide returns above the benchmark over the medium to long term, before fees and tax.

To provide long-term capital growth and some income by investing primarily in a diverse portfolio of smaller companies listed, or expected to be listed, on the Australian Securities Exchange.

To outperform the S&P/ASX 300 Accumulation Index over rolling four-year periods, after taking into account fees, but before tax.

Aims to match the return of the S&P/ASX 200 Accumulation Index, before taking into account fees, expenses and tax.

To outperform the S&P/ASX 300 Accumulation Index, over rolling three-year periods after fees and expenses.

About the investment option The Fund aims to invest in mid and small cap stocks which possess potential for superior growth. Ausbil believes that a company’s share price ultimately follows earnings (and earnings revisions). At all times the Fund will favour sectors and specific companies which it believes will experience positive earnings revisions.

Fairview aims to achieve returns above its benchmark through its core active investment process. This approach is collaborative and research driven, combining high levels of company contact, detailed analysis, a robust peer review process and appropriate risk controls.

The NAB group holds a minority interest in Fairview.

Invests in a diversified portfolio of high quality Australian companies that display four characteristics: a sustainable competitive advantage, recurring earnings, capable management and the ability to grow over time. Investors Mutual Limited believes in purchasing quality companies at attractive prices when a company’s price is below its long-term value.

A representative sample of shares is selected from the Index to form the portfolio. Individual security weightings may vary marginally from the Index from time to time. The Fund may invest in securities that have been, or are expected to be, included in the Index.

Northward believes that a disciplined, fundamental research approach to identify undervalued quality companies will generate strong investment returns over the long term. Investment opportunities are identified using a multi portfolio manager investment approach driven by rigorous bottom-up company research.

The NAB group holds a minority interest in Northward.


You seek exposure to mid and small Australian equities.

You wish to benefit from an actively managed Australian smaller companies equity portfolio managed by a specialist boutique investment manager.


You want to invest in a portfolio of Australian shares that produces similar returns to the market.

You wish to benefit from an actively managed Australian equity portfolio managed by a specialist boutique investment manager.


Five years Five years or more Five years Seven years At least five years

Target asset allocation 90–100% Australian shares 0–10% Cash



100% Australian shares 90–100% Australian shares

0–10% Cash and cash equivalents

Market benchmark 70% S&P/ASX Midcap 50 Index

30% S&P/ASX Small Ordinaries Accumulation Index

S&P/ASX Small Ordinaries Accumulation Index S&P/ASX 300 Accumulation Index S&P/ASX 200 Accumulation Index S&P/ASX 300 Accumulation Index


High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 Very high, 6 years in 20 High, between 5 and 6 years in 20




The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information, refer to this investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.




0.92 0.27 Management fee (% pa) 0.85Estimated performance fee (% pa) 0.00


The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For information refer to this investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.


0.30/0.30 0.30/0.30 0.25/0.25 0.05/0.05 0.25/0.25



Australian shares

Perennial Value Shares Wholesale Trust

Perpetual Wholesale Australian Fund

Perpetual Wholesale Ethical SRI Fund

Perpetual Wholesale Smaller Companies Fund No. 2

Schroder Wholesale Australian Equity Fund

Investment objective To provide a total return (after fees) that exceeds the S&P/ASX 300 Accumulation Index measured on a rolling three-year basis.

To provide long-term capital growth and income through investment in quality shares.

To provide long-term capital growth and income through investment in quality shares of socially responsible companies.

To provide long-term capital growth and income through investment in quality Australian shares which, when first acquired, do not rank in the S&P/ASX 50 Index.

To outperform the S&P/ASX 200 Accumulation Index after fees over the medium to long term.

About the investment option Perennial seeks to buy good businesses that are undervalued by the market, with a belief that good businesses are eventually recognised by markets and positively revalued. The Trust will typically hold approximately 45 stocks listed on the Australian Securities Exchange and seeks to be fully invested with a cash exposure limited to 10%.

Perpetual’s priority is to select those companies that represent the best investment quality and are appropriately priced. Investments are carefully selected on the basis of four key investment criteria: conservative debt levels, sound management, quality business, and for industrial companies, recurring earnings.

The Fund invests primarily in Australian listed, or soon to be listed, shares but may have up to 20% exposure to stocks outside Australia. Currency hedges may be used from time to time. Derivatives may be used.

Perpetual’s priority is to select those companies that represent the best investment quality and are appropriately priced. Investments are carefully selected on the basis of four key investment criteria: conservative debt levels, sound management, quality business, and for industrial companies, recurring earnings. Perpetual screens for ethical and socially responsible investments. The Fund invests primarily in Australian listed, or soon to be listed, shares but may have up to 20% exposure to stocks outside Australia. Currency hedges may be used from time to time. Derivatives may be used.

Perpetual’s priority is to select those companies that represent the best investment quality and are appropriately priced. Investments are carefully selected on the basis of four key investment criteria: conservative debt levels, sound management, quality business, and for industrial companies, recurring earnings. Derivatives may be used.

Schroders’ investment philosophy is value creation and the ability to generate returns on capital higher than the cost of capital. This leads to sustainable share price out-performance in the long term. The investment process is a combination of qualitative industry and company analysis, and quantitative financial forecasts and valuations.


You have an investment horizon of five or more years and seek exposure to a portfolio of Australian ‘value oriented’ companies.


You want to invest in an Australian shares fund that invests in socially responsible companies.

You want to invest in a smaller companies Australian shares fund.



Five years Five years or more Five years or more Five years or more Three to five years

Target asset allocation 100% Australian shares – the Trust seeks to be fully invested in Australian shares at all times, with a cash exposure not exceeding 10% for any length of time.


0–10% Cash


0–10% Cash

80–100% Australian smaller companies shares

0–20% Cash

100% Australian & New Zealand shares

Market benchmark S&P/ASX 300 Accumulation Index S&P/ASX 300 Accumulation Index S&P/ASX 300 Accumulation Index S&P/ASX Small Ordinaries Accumulation Index S&P/ASX 200 Accumulation Index


High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20


0.92 1.06 1.00 1.45 0.77


0.30/0.30 0.30/Nil 0.15/0.15 0.15/0.15 0.25/0.25



Global shares Altrinsic Global Equities Trust BlackRock Global Allocation Fund MLC-Platinum Global Fund

(only available to current investors in this Fund)Platinum Asia Fund

Investment objective The Trust aims to outperform its benchmark over a full investment cycle.

To maximise total investment returns while managing risk and is generally diversified across markets, industries and issuers.

Aims to provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments around the world.

To provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments in the Asian region.


The Trust aims to provide long-term growth of capital by investing predominantly in publicly traded global equity securities selected via a fundamental value oriented approach to investment management.

The Trust’s exposure to international assets will not be hedged to the Australian dollar.

Derivatives may be used for risk management purposes and will only be used defensively and not for speculation.

The NAB group holds a minority interest in Altrinsic.

The Fund will typically invest in global equities, fixed income and cash. The types of securities and markets will vary in response to changing market conditions and economic trends. Its investments are diversified across markets, industries and issuers spreading the risks associated with investing in only one asset class or market.

The Fund primarily invests in listed securities. The Portfolio will ideally consist of 100 to 200 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. Platinum may short sell securities that it considers overvalued. The Portfolio will typically have 50% or more net equity exposure. Derivatives may be used for risk management purposes (ie to protect to protect the Fund’s portfolio from either being invested or uninvested) and to take opportunities to increase returns (eg to gain access to markets not readily available to foreign investors, and to build a position in selected companies or issues of securities as a short-term strategy to be reversed when physical positions are purchased). The Fund’s currency is actively managed.

The Fund primarily invests in the listed securities of Asian companies. The Portfolio will ideally consist of 75 to 150 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. Platinum may short sell securities that it considers overvalued. The Portfolio will typically have 50% or more net equity exposure. Derivatives may be used for risk management purposes and to increase returns. The underlying value of derivatives may not exceed 100% of the Net Asset Value (NAV) of the Fund and the underlying value of the long stock positions and derivatives will not exceed 150% of the NAV of the Fund. Currency exposures are actively managed.


•You want a portfolio focussed on long-term capital growth.

•You want to diversify your portfolio with global equity securities.

•You are able to accept the volatility of investing in growth assets.

•You are able to accept the volatility of foreign exchange risk against movements in the value of the Australian dollar.

You want a single fund that offers broad global exposure. The Fund’s highly flexible investment approach provides investors with direct exposure to global markets while retaining the flexibility to move into safer instruments when conditions demand.

You believe in long term wealth creation through accessing international shares.

You believe in long-term wealth creation through accessing Asian shares.


Five years or more Five years Seven years Five years or more

Target asset allocation 60–100% Developed markets 0–30% Emerging markets 0–10 % CashThe Trust may hold up to 15% in small cap stocks (market capitalisation of US $1.5b or less).

60% Equities40% Fixed income

0–100% Global shares0–100% Cash

0–100% Asian shares0–100% Cash

Market benchmark MSCI All Country World ex-Australia Index (net dividends reinvested)

The benchmark is a diversified allocation of 36% S&P 500 Index (Total Return hedged in AUD), 24% FTSE World Index ex US Index (Total Return hedged in AUD), 24% Merrill Lynch US Government Index (0–5 yr Treasury hedged in AUD) and 16% Citigroup World ex US Government Bond Index (hedged in AUD).

Morgan Stanley Capital International All Country World Net Index (for performance comparisons only)

MSCI All Country Asia ex Japan Net Index (for performance comparisons only)




1.25 Management fee (% pa) 0.30 Estimated performance fee (% pa) 0.33 Indicative investment fee (% pa) 0.63The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For information refer to the investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.

1.16 1.54


0.30/0.30 0.30/0.30 Nil/Nil 0.25/0.25





Global shares

Platinum International Fund PM CAPITAL Absolute Performance Fund

Vanguard® International Shares Index Fund

Vanguard® International Shares Index Fund (Hedged)

Investment objective To provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments around the world.

To provide positive investment returns over a three to five-year investment horizon by investing in a concentrated portfolio of global equities.

To track the return (income and capital appreciation) of the MSCI World (ex-Australia) Index (net dividends reinvested), in Australian dollars, before taking into account fund fees and expenses.

To track the return (income and capital appreciation) of the MSCI World (ex-Australia) Index (net dividends reinvested), hedged into Australian dollars, before taking into account fund fees and expenses.

About the investment option The Fund primarily invests in listed securities. The Portfolio will ideally consist of 100 to 200 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. Platinum may short sell securities that it considers overvalued. The Portfolio will typically have 50% or more net equity exposure. Derivatives may be used for risk management purposes and to increase returns. The underlying value of derivatives may not exceed 100% of the Net Asset Value (NAV) of the Fund and the underlying value of long stock positions and derivatives will not exceed 150% of the NAV of the Fund. Currency exposures are actively managed.

PM CAPITAL believes that the best way to preserve and enhance wealth is to ‘buy a good business at a good price’. The Fund will typically hold between 35–45 globally listed equities, and may:• invest in cash (up to 100% of assets) if it cannot

find appropriate investments, or •use leverage, •use derivatives for, and •short sell stocks.

The Fund will hold most of the securities in the Index, allowing for individual security weightings to vary from the Index from time to time. The Fund may invest in securities that have been or are expected to be included in the Index.

The Fund invests in the Vanguard International Shares Index Fund, securities in the index and forward foreign exchange contracts.


You believe in long-term wealth creation through accessing International shares.

You are comfortable with the risks involved in sharemarket investing and are prepared to take a genuine long term investment horizon.

You want to invest in an index international shares fund.



Five years or more Three years or more Seven years Seven years

Target asset allocation 0–100% International shares0–100% Australian shares0–100% Cash

100% Global shares 100% Global shares 100% Global shares (hedged)

Market benchmark MSCI All Country World Net Index (for performance comparisons only)

MSCI All Country World Index MSCI World ex-Australia Index (net dividends reinvested), in Australian dollars

MSCI World ex-Australia Index (net dividends reinvested), hedged into Australian dollars

Expected risk (volatility) High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20


1.54 Management fee (% pa) 1.29 Estimated performance fee (% pa) 0.81Indicative investment fee (% pa) 2.10The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information, refer to the investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.

0.38 0.41


0.25/0.25 0.25/0.25 0.20/0.10 0.25/0.15



Global shares

Platinum International Fund PM CAPITAL Absolute Performance Fund

Vanguard® International Shares Index Fund

Vanguard® International Shares Index Fund (Hedged)

Investment objective To provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments around the world.

To provide positive investment returns over a three to five-year investment horizon by investing in a concentrated portfolio of global equities.

To track the return (income and capital appreciation) of the MSCI World (ex-Australia) Index (net dividends reinvested), in Australian dollars, before taking into account fund fees and expenses.

To track the return (income and capital appreciation) of the MSCI World (ex-Australia) Index (net dividends reinvested), hedged into Australian dollars, before taking into account fund fees and expenses.

About the investment option The Fund primarily invests in listed securities. The Portfolio will ideally consist of 100 to 200 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. Platinum may short sell securities that it considers overvalued. The Portfolio will typically have 50% or more net equity exposure. Derivatives may be used for risk management purposes and to increase returns. The underlying value of derivatives may not exceed 100% of the Net Asset Value (NAV) of the Fund and the underlying value of long stock positions and derivatives will not exceed 150% of the NAV of the Fund. Currency exposures are actively managed.

PM CAPITAL believes that the best way to preserve and enhance wealth is to ‘buy a good business at a good price’. The Fund will typically hold between 35–45 globally listed equities, and may:• invest in cash (up to 100% of assets) if it cannot

find appropriate investments, or •use leverage, •use derivatives for, and •short sell stocks.

The Fund will hold most of the securities in the Index, allowing for individual security weightings to vary from the Index from time to time. The Fund may invest in securities that have been or are expected to be included in the Index.

The Fund invests in the Vanguard International Shares Index Fund, securities in the index and forward foreign exchange contracts.


You believe in long-term wealth creation through accessing International shares.

You are comfortable with the risks involved in sharemarket investing and are prepared to take a genuine long term investment horizon.




Five years or more Three years or more Seven years Seven years

Target asset allocation 0–100% International shares0–100% Australian shares0–100% Cash

100% Global shares 100% Global shares 100% Global shares (hedged)

Market benchmark MSCI All Country World Net Index (for performance comparisons only)

MSCI All Country World Index MSCI World ex-Australia Index (net dividends reinvested), in Australian dollars

MSCI World ex-Australia Index (net dividends reinvested), hedged into Australian dollars

Expected risk (volatility) High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20 High, between 5 and 6 years in 20


1.54 Management fee (% pa) 1.29 Estimated performance fee (% pa) 0.81Indicative investment fee (% pa) 2.10The estimated performance fee is based on the actual fees paid from the Fund for the year end 30 June 2012. The performance fee charged in future may differ. This fee may be charged when investment returns exceed a specified level. For more information, refer to the investment manager’s PDS on mlc.com.au. The actual performance fee to 30 June each year will be in the Annual Report.

0.38 0.41


0.25/0.25 0.25/0.25 0.20/0.10 0.25/0.15



Your notes


Postal address: MLC Limited, PO Box 200 North Sydney NSW 2059


mlc.com.au

MLC Superannuation

86144M0313

MLC MasterKey Super & Pension FundamentalsInvestment Protection Guide

MLC Superannuation


Issued by: The Trustee, MLC Nominees Pty Limited (MLC) ABN 93 002 814 959 AFSL 230702 The Universal Super Scheme ABN 44 928 361 101

Protection for life term provided by: MLC Limited ABN 90 000 000 402 AFSL 230694

Protection for all other terms provided by: MLC Investments Limited ABN 30 002 641 661 AFSL 230705

The liability of the Trustee to pay the protection amount to you is limited to the amount that the Trustee receives from the providers of the protection.

Changes can be made to the protection.

For further information on these changes, please see page 2.

For more information please contact us, your financial adviser or go to the online copy of this document on mlc.com.au/pds/mkspf

References to websites in this document direct you to additional information.

This guide gives you information about the Investment Protection available through MLC MasterKey Super & Pension Fundamentals.

ContentsWhat this guide covers

MLC MasterKey 1 Investment ProtectionProtect your wealth with investment protection.

Things you 2 should considerMLC MasterKey Investment Protection provides greater certainty around the value of your savings or income, but there are a few things you should consider.

Protected Capital 3 Provides certainty of capital over 10 or 20 years and potential for growth.

Protected Income 8 Provides certainty of income over 10, 20 years or for life and potential for growth.

Investment 13 protection – the detailsProtection you can depend on.

The information in this document forms part of the Product Disclosure Statement, dated 7 December 2012. Together with the Fee Flyer, Investment Menu and Application Forms, these documents should be considered before making a final decision to invest.

MLC MasterKey Super & Pension Fundamentals Investment Protection Guide

Protect your wealth with investment protection.

MLC MasterKey Investment Protection

If you want to take advantage of market growth and protect your savings, then investment protection may be right for you.

With MLC MasterKey Investment Protection you can invest with greater certainty and protect some or all of your super or pension.

You can choose from two types of protection:

1. Protected Capital – provides certainty of capital over 10 or 20 years and potential for growth.

2. Protected Income – provides certainty of income over 10, 20 years or for life and potential for growth.

Once you have chosen which type of protection is right for you, you then choose the investment option that best suits your needs (please see page 13).

Your protected account balance will still move up and down with market movements but regardless of how markets move, you’ll always know:

• the minimum amount you’ll receive at the end of the term with Protected Capital, or

• the minimum amount of income you’ll receive over the term with Protected Income.

MLC MasterKey Super & Pension Fundamentals Investment Protection Guide Page 2

Things you should consider

MLC MasterKey Investment Protection provides greater certainty around the value of your savings or income, but there are a few things you should consider.

Your investment timeframeYou can choose different terms to protect your savings or income. To receive the full benefit of the investment protection, please make sure the term you choose is consistent with your investment time horizon. This means that if you choose a 20 year term, you’re willing to remain invested in your chosen investment option for 20 years.

Ending your protection earlyYou can end your protection early, but you won’t receive the benefit of the protection on your account and you’ll have to wait 6 months to apply again for protection.

Accessing your account balanceYou can withdraw or switch throughout your term, however this will reduce the amount you have protected. So you may only want to protect some of your super or pension account balance.

Changing your protectionOnce your protection has started, you can’t change it. So before investing, please make sure you’ve chosen the right MLC MasterKey Investment Protection to suit your needs.

Paying your protection if you dieUnder super laws, we’ll pay your account balance when we’re advised of your death. Your protected amount will only be paid if you choose the death benefit option in Protected Capital or spouse benefit option in Protected Income.

When your protection endsYour protection will end if you withdraw your protected account balance before the end of your term. This includes if you need to take your super early for Total & Permanent Disability or financial hardship. For further details on when your protection ends, please see page 14.

Changes we may make to your protectionWe may need to change the protection features even after you’ve started your protection.

Changes can happen at any time as a result of legislative or regulatory changes. Otherwise the changes listed below can only happen if certain events happen first, eg material or adverse long term changes in market or demographic conditions.

Changes that may be made include:

• the fee you pay for protection, however it won’t exceed 7% pa

• switching your protected account balance in to a new investment option

• only allowing future contributions to a different investment option to the one you’ve chosen

• how often market gains may be ‘locked-in’, but the lock-in will be at least every two years

• reducing the withdrawal limit if you choose Protected Capital

• stopping or restricting the addition of new investments into your protection

• reducing your protected income payments, if you choose an income for life, but by no more than 20%.

If any of these changes occur, we’ll let you know before the change is made.


With Protected Capital you can choose to protect some or all of your MLC MasterKey super or pension account balance.

Once you’ve chosen a term of either 10 or 20 years, you then select which investment option best suits your needs. You can only invest your protected account balance in one investment option. And, your account balance without protection can’t be invested in the same investment option.

The initial amount you invest in Protected Capital is your protected capital value.

Your protected account balance will still move up and down with market movements. Each year, on your investment anniversary, your protected capital value may increase depending on the performance of the investment option you’ve chosen.

Your protected capital value will:

• increase if your protected account balance on your anniversary date is higher than your protected capital value. If this is the case your protected capital value will increase to equal your protected account balance, or

• remain the same if your protected account balance on your anniversary date is lower than your protected capital value.

So, regardless of how markets move, you’ll always know the minimum amount you’ll receive at the end of your selected term.

During your term, your protected account balance and protected capital value will:

• decrease with any withdrawals you make, or

• if you choose the additional investment benefit option, increase with any additional investments you make.

An example of how Protected Capital works is shown on the next page.

Who can apply?You need to be 50 years of age or older to apply.

Can you move between super and pension during your term?Yes, your protection will continue during your term if you:

• move into pension phase, or

• set up a transition to retirement pension.

You can’t transfer your protection from pension back to super unless you’re in a transition to retirement pension.

But if you’re in a transition to retirement pension you can’t add to your protection even when you transfer back to super. You may however, add to that part of your account that isn’t protected.

Because the super and pension laws are complex, we recommend you talk to a financial adviser.

Protected Capital

Provides certainty of capital over 10 or 20 years and potential for growth.

Benefits of Protected Capital• Security of knowing your

protected capital value won’t decrease when markets decrease

• Confidence to invest in a diversified portfolio and take advantage of market increases

• You can choose to increase the amount you’ve protected through additional investments in super, and

• You can transition from super to pension and keep your protection when you retire.


Protected account balanceProtected capital value

1050 1 2 3 4 6 7 8 9

$190,000

$250,000

$310,000

$280,000

$220,000

1

2

3

4 5

Term (Years)

You have an MLC MasterKey Super Fundamentals account and have chosen to protect $200,000 for 10 years in the MLC Horizon 4 Balanced Portfolio.

1. Your initial investment amount of $200,000 in the MLC Horizon 4 Balanced Portfolio is your protected capital value. Your term starts on this day.

2. Your protected account balance moves with the investment performance of the MLC Horizon 4 Balanced Portfolio.

3. Each year on your investment anniversary, if your protected account balance in the MLC Horizon 4 Balanced Portfolio is higher than your protected capital value due to positive investment performance, then your protected capital value will increase and be locked-in at this higher amount.

4. If your protected account balance has decreased due to negative investment performance of the MLC Horizon 4 Balanced Portfolio, then your protected capital value remains the same.

5. At the end of your 10 year term if your protected capital value is $280,000, which is greater than your protected account balance of $270,000, you’ll receive a payment of $10,000 into your MLC Cash Fund.

If your protected account balance was greater than your protected capital value, no additional payment would be made, and you’ll simply have your account balance.

Explanation of graph

Protected CapitalYou have chosen to protect $200,000 for a 10 year term.


Protected Capital

How withdrawals and switches will affect your protected capital valueYou can make withdrawals or switches from your protected account balance.

Other withdrawals or switches, including to pay Adviser service fees or insurance premiums, will reduce your protected account balance and your protected capital value. The more you withdraw, the greater the impact on your protected capital value.

When your protected capital value is lower than your protected account balance

When your protected capital value is higher than your protected account balance

Your protected capital value is $180,000 and your protected account balance is $200,000. You withdraw $40,000, which reduces both your protected capital value and your protected account balance by $40,000.Therefore your:•protected capital value is

$180,000 – $40,000 = $140,000, and•protected account balance is

$200,000 – $40,000 = $160,000.

Your protected capital value is $220,000 and your protected account balance is $200,000. You withdraw $40,000, which reduces your protected account by $40,000. The amount your protected capital value is reduced by is calculated as:•dividing your withdrawal amount by your

protected account balance $40,000 / $200,000 = 20%, then

•proportionally reducing your protected capital value by this percentage, ie » $220,000 x 20% = $44,000 » $220,000 – $44,000 = $176,000.

Protection fees, administration fees and investment fees (including transaction costs) won’t reduce your protected capital value, but they will reduce your protected account balance.

If you’re in superWe’ll reduce your protected capital value by the same amount as your withdrawal or switch if your protected capital value is lower than your protected account balance. Otherwise, we’ll reduce your protected capital value by more than the withdrawal amount.

If you’ve chosen the additional investments benefit option, any withdrawals will also reduce the amount you can contribute each year, please see ‘Withdrawals and your annual investment limit’ on page 14.

Examples of how this works are shown below.


When you withdraw up to your annual withdrawal limit

When you withdraw more than your annual withdrawal limit and your protected capital value is lower than your protected account balance

When you withdraw more than your annual withdrawal limit and your protected capital value is higher than your protected account balance

Your protected account balance at your last investment anniversary was $400,000. Therefore your annual withdrawal limit is $400,000 x 15% = $60,000. Currently your protected capital value is $430,000 and your protected account balance is $410,000.

Your protected capital value is $400,000 and your protected account balance is $430,000. You have already withdrawn up to your annual withdrawal limit for the year.

Your protected capital value is $370,000 and your protected account balance is $350,000. You have already withdrawn up to your annual withdrawal limit for the year.

You withdraw $60,000. You withdraw $40,000. You withdraw a further $35,000, which reduces your account balance by $35,000.

Therefore your: •protected capital value is


$410,000 – $60,000 = $350,000.

Therefore your: •protected capital value is


$430,000 – $40,000 = $390,000.

The amount your protected capital value is reduced by is calculated as:•dividing your withdrawal amount by your


•proportionally reducing your protected capital value by this percentage, ie » $370,000 x 10% = $37,000 » $370,000 – $37,000 = $333,000.

If you’re in pensionYou can withdraw from your protected account balance up to your annual withdrawal limit each year and your protected capital value will be reduced by the same amount. Your annual withdrawal limit is calculated as 15% of your protected account balance as at your last investment anniversary.

If you withdraw more than your annual withdrawal limit, we’ll reduce your protected capital value by:

• the same amount as your withdrawal when your protected capital value is lower than your protected account balance, or

• more than your withdrawal when your protected capital value is higher than your protected account balance.



Protected Capital

Benefit Description

Additional investment benefit

Allows you to add to your protected capital value each year while you’re in super. The amount you can add is your annual investment limit and is shown in your anniversary summary or view online at mlc.com.auInitially, your annual investment limit is 15% of your initial investment amount. Any withdrawals or switches out you make in super will reduce your annual investment limit in the future. Please see page 14 for more information. Additional investments include all amounts added to your protected account balance, including switches in.This optional benefit is only available when you’re in super. When you’re in pension, this benefit will no longer be available and you won’t pay the additional fee.

Death benefit We’ll pay the higher of your protected capital value or protected account balance if you die.When we’re advised of your death we’ll transfer to the MLC Cash Fund:•your protected account balance (except if you have reversionary beneficiary nomination), and • if your protected capital value is higher than your protected account balance, the difference between your

protected capital value and your protected account balance. If you don’t select this optional benefit only your protected account balance will be transferred to the MLC Cash Fund when we’re advised of your death. You need to be 65 years of age or younger to apply.

Optional extrasWhen you apply for Protected Capital, you can include the following benefits for an additional fee.

These benefits must be selected at the time you apply. They can’t be added or removed once your protection has started.

http://www.mlc.com.au


Protected Income

Provides certainty of income over 10, 20 years or for life and growth potential.

With Protected Income you can use some or all of your MLC MasterKey super or pension account balance to provide you with a minimum level of income in retirement.

Once you’ve chosen a term of either 10, 20 years or for life, you then select which investment option best suits your needs and when you want your term to start.

You can only invest your protected account balance in one investment option. And, your account balance without protection can’t be invested in the same investment option.

The initial amount you invest in Protected Income becomes your protected income base. And, your protected income payment is the income you receive.

Your protected account balance will still move up and down with market movements. Each year, on your investment anniversary, your protected income base may be increased depending on the performance of the investment option you’ve chosen.

Your protected income base will:

• increase if your protected account balance on your anniversary date is higher than your protected income base. If this is the case your protected income base will increase to equal your protected account balance, or

• remain the same if your protected account balance on your anniversary date is lower than your protected income base.

During the year, your protected account balance and protected income base will:

• decrease with any withdrawals you make that exceed your protected income payments, and

• increase with any additional investments you make, while you’re in super.

Depending on your retirement goals, you can begin this type of protection in:

• super and add to your protection by up to 30% each year

• pension and let us know when you want to start receiving your protected income payments, or

• pension and start receiving your protected income payments straight away.

Whichever way you want to start your protection, you can select when you want to start your term, but you can’t change the other features of your protection once you have chosen them.

Benefits of Protected Income• Safe, reliable income for the term

you choose

• Security of knowing the minimum income you’ll receive each year

• Confidence to invest in a diversified portfolio, and take advantage of market increases

• Flexibility to choose when you start receiving your protected income payments, and

• Access to your protected account balance, subject to legislative requirements, if you need it. Please also see ‘When your protection ends’ on page 14.


How much Protected Income will I receive?The protected income payments you’ll receive each year are equal to a set percentage of your protected income base. This percentage is based on the term you select at the beginning of your protection as follows:

Term Each year your protected income payments will be

10 years 10% of your protected income base.

20 years 5% of your protected income base.

For life 4% of your protected income base, if you begin receiving your protected income payments before age 65; or5% of your protected income base, if you begin receiving your protected income payments on or after age 65.

If your protected income base increases due to additional investments while in super or positive market performance, then your protected income payments will also increase proportionately.

You can choose when you’d like to receive your protected income payments during the year.

You may also choose, to receive more or less than the percentage shown above in the table. If you elect to take:

• more, your protected income base will decrease. Please see withdrawals on page 12.

• less, then each year, on your investment anniversary we’ll calculate the protected income payments you’ve received and compare this to the protected income payments you should have received for the year. Any additional amount will be transferred to your MLC Cash Fund.

An example of how Protected Income works is shown on the next page.

Government minimumsThe income you need to withdraw from your pension each year is still subject to Government minimum limits.

If the Government minimum limit on your protected account balance, is greater than your protected income payments, and additional payments are required, we’ll pay the additional amount to you. This will decrease your protected account balance, but it won’t affect your protected income base.

Government limits may change from time to time. More information can be found on ato.gov.au

Who can apply?You need to be 50 years of age or older to apply. Also, to start receiving an income you need to have reached your preservation age (currently 55 years of age or older) and have commenced a pension.

You can’t have Protected Income if you have a transition to retirement pension in place.

Can you add to your protected account balance?If you’re in super, you can add to your protected account balance at any time by up to 30% of your initial investment amount each year. This is your annual investment limit and is shown in your anniversary summary or view online at mlc.com.au

Additional investments include all amounts added to your protected account balance, including switches in.

Any withdrawals or switches out, you make in super will reduce your annual investment limit. Please see page 14 for more information.

When you transfer from super to pension, you can no longer add to your protection.

Protected Income

How can you receive your protected income payments?You can choose to receive your protected income payments as:

• part of your pension draw down strategy paid to your nominated bank account, or

• a switch to your account balance without protection within your super or pension account.

When your protected account balance is reduced to the minimum balance (please see page 13) then your protected income payments will be paid to your MLC Cash Fund on a monthly basis for the remainder of your term.

Can you move between super and pension during your term?You can start your protection in super and then move to pension before you choose to receive protected income payments. Once you have transferred to pension you can’t move back to super and keep your protection.

Suspending your protected income paymentsWhile we’re paying protected income payments, we may request proof that you or your spouse (if you choose the Spouse benefit option) are still alive. Until we receive confirmation to our satisfaction, we may suspend your protected income payments.

http://www.ato.gov.au



$50,000

$200,000

$350,000

$500,000

205 10 15Start

Protected account balance Protected income base

Protected income payments

1

3

Term (Years)

6

$25,000$26,000

2

4

5

You have an MLC MasterKey Super Fundamentals account and have chosen to protect $350,000 in the MLC Horizon 4 Balanced Portfolio. You want to retire in 6 years time and then receive income payments for 20 years.

1. Your initial investment amount of $350,000 in the MLC Horizon 4 Balanced Portfolio is your protected income base.

2. Your protected account balance moves with the investment performance of the MLC Horizon 4 Balanced Portfolio. Each year on your investment anniversary, if your protected account balance in the MLC Horizon 4 Balanced Portfolio is higher than your protected income base due to positive investment performance, then your protected income base will increase and be locked in at this higher amount.

3. After 6 years your protected income base has increased to $500,000. You move to pension and elect to start your 20 year term. Your protected income payments each year are 5% of $500,000 or $25,000.

4. Each year, on your investment anniversary, your protected account balance is reviewed. During the first year of your term, your protected account balance has increased to more than your previous protected income base. Your protected income base increases to $520,000 and is locked in. Your protected income payments are now 5% of this amount, ie $26,000.

5. During your term, your protected account balance decreases as a result of the protected income payments, fees and market declines, but your protected income base, and therefore your protected income payments, remain the same.

6. After 17 years, your protected account balance no longer covers your protected income payments, but you continue to receive protected income payments of $26,000 for the remainder of your 20 year term.

Explanation of graph

Protected IncomeYou have chosen a 20 year term and initially invest $350,000 in super. After 6 years you transfer to pension and start receiving protected income payments.


Can you withdraw or switch?You can make withdrawals or switches from your protected account balance at any time, but withdrawals or switches that exceed your protected income payments each year, will reduce your protected income base.

Other withdrawals or switches, including to pay adviser service fees or insurance premiums, other than your protected income payments each year will reduce both your protected account balance and your protected income base. The more you withdraw, the greater the impact on your protected income base.

Protected Income

Protection fees, administration fees and investment fees (including transaction costs) won’t reduce your protected income base but they will reduce your protected account balance.

When your protected income base is lower than your protected account balance

When your protected income base is higher than your protected account balance

Your protected income base is $180,000 and your protected account balance is $200,000. You withdraw $40,000, which reduces your protected income base and your protected account balance by $40,000. Therefore your: •protected income base is


$200,000 – $40,000 = $160,000.

Your protected income base is $220,000 and your protected account balance is $200,000. You withdraw $40,000, which reduces your protected account balance by $40,000. The amount your protected income base is reduced by is calculated as:•dividing your withdrawal amount by your


•proportionally reducing your protected income base by this percentage, ie » $220,000 x 20% = $44,000 » $220,000 – $44,000 = $176,000.

If you’re in superWe’ll reduce your protected income base by the same amount as your withdrawal or switch when your protected income base is lower than your protected account balance at the time of your withdrawal. Otherwise, we’ll reduce your protected income base by more than the withdrawal amount.

Any withdrawals or switches will also reduce how much you can contribute each year, please see ‘Withdrawals and your annual investment limit’ on page 14.


MLC MasterKey Super & Pension Fundamentals Investment Protection Guide Page 12Investment Protection Guide Page 12

Optional extraWhen you apply for Protected Income you can include the following benefit for an additional fee. This optional extra must be selected at the time you apply. It can’t be added once your protection has started.

Benefit Description

Spouse benefit Allows you to nominate your spouse to continue to receive your protected income payments if you die.You’ll need to set your spouse up as a reversionary beneficiary and you and your spouse must each:•be 50 years of age or older when you apply, and •have reached preservation age (currently 55 years of age) or older when you start your term.If your spouse status changes, you may remove this option but you’ll continue to pay the additional fee. You can’t nominate a replacement spouse.If you don’t choose this option your protected account balance will be transferred to the MLC Cash Fund when we’re advised of your death.

When you withdraw up to your protected income payment for the year

When you withdraw more than your protected income payment for the year and your protected income base is lower than your protected account balance, or you haven’t started your term

When you withdraw more than your protected income payment for the year and your protected income base is higher than your protected account balance, or you haven’t started your term

Your protected income base is $400,000. If you have a 10 year term, you’ll receive a minimum protected income payment each year of 10% or $40,000.

Your protected income base is $320,000 and your protected account balance is $340,000. You have already received your protected income payments for the year.

Your protected income base is $400,000, and your protected account balance is $340,000. You have already received your protected income payments for the year.

Your protected account balance is $380,000.

You withdraw a further $34,000, which reduces both your protected account balance and protected income base by $34,000.

You withdraw a further $34,000, which reduces your protected account balance by $34,000.

When you receive the protected income payment, your:•protected income base remains the

same at $400,000, and•protected account balance is

$380,000 – $40,000 = $340,000.

Therefore your: •protected income base is

$320,000 – $34,000 = $286,000. This means your income payments will now be calculated on your reduced protected income base, and

•protected account balance is $340,000 – $34,000 = $306,000.

The amount your protected income base is reduced by is calculated as:•dividing your withdrawal amount by your


•proportionally reducing your protected income base by this percentage, ie » $400,000 x 10% = $40,000 » $400,000 – $40,000 = $360,000.

This means your protected income payments will now be calculated on your reduced protected income base.

If you’re in pensionYour protected income payments won’t decrease your protected income base, but your protected account balance will reduce by the amount of your protected income payments.

You may also withdraw more than this, but this may reduce your protected income base by a higher amount than the withdrawal. The more you withdraw, the greater the impact on your protected income base and hence your protected income payments.



Investment protection – the details

Protection you can depend on.

How much can you protect?Your minimum initial investment amount must be $30,000, and the maximum is $2 million. If you wish to protect more than this, please contact us.

Minimum balanceYour account balance must be positive in order to maintain the protection to cover any product or regulatory obligations. If you withdraw your entire account balance, this may cancel your protection.

If you’re in Protected Income, your protected income payments will be paid to your MLC Cash Fund when your protected account balance has reduced to $200. When your protected account balance is less than $200, we may transfer this amount to a different investment option.

Protected Capital Protected Income

Investment option 10 years

20 years

10 years

20 years

For life

MLC Horizon 3 Conservative Growth Portfolio 3 3 3 3 3

MLC Horizon 4 Balanced Portfolio 3 3 3 3 3

MLC Horizon 5 Growth Portfolio 7 3 7 3 7

MLC Index Plus Conservative Growth Portfolio 3 3 3 3 3

MLC Index Plus Balanced Portfolio 3 3 3 3 3

MLC Index Plus Growth Portfolio 7 3 7 3 7

How is your initial investment amount calculated?Starting your protection in superYour initial investment amount is made up of all transactions within your protected account balance in the first 90 days after you make your first investment. That is, contributions and switches, less any withdrawals.

Starting your protection in pensionYour initial investment amount is your first investment amount. After making your initial investment you can’t add to your protection.

What investment option can you choose for your protection?You can choose one of the following investment options for your protection in the table below.

If you only wish to protect some of your super or pension account, then your account balance without protection must be invested in a different investment option to your protected account balance.

When is your investment anniversary?Your investment anniversary is the day your first investment is made into your protected account balance. You need to make your first investment within 90 days of your application being received.

If you’re in Protected Income your anniversary date will change when you start your term.


Withdrawals while you’re in super will reduce your annual investment limit in the same proportion as the reduction of your protected account balance

When you withdraw in super

Your protected account balance is $200,000 and your annual investment limit is $40,000.You withdraw $50,000, which reduces your protected account balance by $50,000. The amount your annual investment limit is reduced by is calculated as:•dividing your withdrawal amount by your protected account balance

$50,000 / $200,000 = 25%, then•proportionally reducing your annual investment limit by this percentage, ie

$40,000 x 25% = $10,000$40,000 – $10,000 = $30,000.

Your new annual investment limit is $30,000.

When will your protection end?Your protection will end when:

• you don’t make an investment into your protected account in the first 90 days of submitting your application

• your initial investment amount into your protected account is less than $30,000

• your term ends

• you transition from pension back to super (unless you have a transition to retirement pension with Protected Capital)

• your protected capital value or protected income base is less than $1,000 due to withdrawals you make

• you withdraw all your protected account balance

• you stop it

• you die. If you’ve chosen the spouse benefit option then your spouse will receive the protected payments.

When your protection ends, your account balance will remain in the investment option you’ve chosen.

If your protection has been cancelled, you can’t apply for Investment Protection with MLC for 6 months.

TaxPlease refer to the PDS for general information on how your super and pension accounts are taxed. For more information on how tax is applied to your protection payment, please refer to the How to Guide on mlc.com.au

Other taxes, such as contributions tax are considered a withdrawal from your protected account balance. For withdrawals in Protected Capital see page 5 and withdrawals in Protected Income see page 11.

Keeping you informedIn addition to the regular MLC MasterKey Super & Pension Fundamentals information, we’ll keep you up to date about your MLC MasterKey Investment Protection.

Confirmation of your protectionConfirms the type of protection, your term and optional benefits you have chosen.

Anniversary summaryEach year after your investment anniversary we’ll confirm your protection details including, where applicable, your:

• protected capital value or protected income base

• annual withdrawal limit

• annual investment limit, and

• protected income payments.

mlc.com.auProvides up to date information on your account including your investment protection details.

Financial statementsTo obtain a copy of MLC Limited and MLC Investments Limited Financial Statements, please call us.

Withdrawals and your annual investment limit



Protected Capital


Plus optional extras (% pa)

10 years 20 years Additional investment benefit Death benefit

MLC Horizon 3 Conservative Growth Portfolio 1.20% 0.75%

0.20% 0.20%

MLC Horizon 4 Balanced Portfolio 2.00% 1.15%

MLC Horizon 5 Growth Portfolio N/A 1.60%

MLC Index Plus Conservative Growth Portfolio 1.10% 0.65%

MLC Index Plus Balanced Portfolio 1.90% 1.05%

MLC Index Plus Growth Portfolio N/A 1.50%

Protected Income


Plus optional extra – Spouse benefit (% pa)

10 years 20 years For life 10 years / 20 years For life

MLC Horizon 3 Conservative Growth Portfolio 0.90% 0.55% 1.40%

0.10% 0.90%

MLC Horizon 4 Balanced Portfolio 1.65% 0.90% 2.00%

MLC Horizon 5 Growth Portfolio N/A 1.35% N/A

MLC Index Plus Conservative Growth Portfolio 0.80% 0.45% 1.30%

MLC Index Plus Balanced Portfolio 1.55% 0.80% 1.90%

MLC Index Plus Growth Portfolio N/A 1.25% N/A

Protection fees, administration fees and investment fees (including transaction costs) won’t reduce your protected capital value or protected income base, but they will reduce your protected account balance.

Investment protection – the details

Fees and costsYour protection fee is based on the type and term of your protection, the investment option you’ve chosen, your protected account balance, plus any optional extras you choose.

Fees are shown in the tables below.

The protection fee, which is deducted monthly from your protected account balance, is in addition to the fees shown in the Fee Flyer and Investment Menu.

We may vary the fees. We’ll give you 30 days notice of any increase. For further information on these changes, please see page 2, ‘Things you should consider’.

All fees are shown inclusive of GST and net of Reduced Input Tax Credits (where applicable).




mlc.com.au 90724M0313

MLC Superannuation



MLC Nominees Pty Limited (MLC) ABN 93 002 814 959 AFSL 230702 RSE L0002998

The Universal Super Scheme ABN 44 928 361 101 RSE R1056778

MLC MasterKey Super Fundamentals SPIN MLC0440AU

MLC MasterKey Super Fundamentals Application Form Page 1 of 24

We can only accept your request if the form is correctly completed.

The information in this document forms part of the Product Disclosure Statement, dated 7 December 2012. Together with the Fee Flyer, Investment Protection Guide and Investment Menu, these documents should be considered before making a final decision to invest.

Important informationBefore sending this Application Form to MLC, please check that you have completed:

• all the questions on the Application Form (as appropriate) by printing clearly in the spaces provided and have signed the relevant sections.

• any Request to transfer super benefits forms and they are signed by you.

Proof of Identity MLC is required to verify your identity before you can access your money. You may choose to provide your proof of identity with this application.

• If you are applying for this product via a financial adviser, they will verify your identity.

• If you are applying for this product directly to MLC please attach certified copies of relevant proof of identity documents as outlined on the Proof of Identity form on mlc.com.au

If you are making a contribution by cheque, please make it payable to MLC Nominees Pty Limited, crossed ‘Not negotiable’.Please forward everything to: MLC MasterKey Super Fundamentals, PO Box 200, North Sydney NSW 2059

Your application details

1. Are you also submitting an MLC MasterKey Pension Fundamentals Application Form with this form?

Yes

No

2. Personal details

Existing MasterKey Customer number Existing NAB Customer number (if known) (if known)

Title First name

Mr

Mrs

Miss

Ms

Other

Middle name Family name

Date of birth (DD/MM/YYYY)

Gender

Male Female

Application Form

MLC MasterKey Super Fundamentals


Your application details continued

3. Tax File Number (TFN)

You don’t have to provide your TFN, however if you don’t:

• personal contributions will be rejected

• additional tax will apply to employer and salary sacrifice contributions

• any withdrawals will be taxed at the highest marginal tax rate inclusive of the Medicare Levy.

Your TFN is confidential, and MLC is authorised by tax laws to collect your TFN. MLC must use your TFN only for lawful reasons, in paying out monies, identifying or combining superannuation benefits. Your TFN may be disclosed to the Trustee or another Fund or RSA provider if your benefits are transferred, unless you request in writing for it not to be disclosed.

4. Residential address Your residential address can’t be a PO Box.

Unit number Street number Street name

Suburb Postcode State Country

5. Postal address (if different to residential address)Your postal address can’t be your financial adviser’s address

Unit number Street number PO Box Street name


6. Telephone contactsHome telephone Business telephone

Mobile phone number

7. Email contactPlease provide us with your email address so we can let you know when your Annual Statement is available to view.

Email address


Your investment details

8. RolloversWill you be transferring any amounts before starting this account?

No Go to Question 9

Yes Complete the details below

Show the source and amount of each rollover. Contributions that you split with your spouse are classified as a rollover.

Source of rollover (name of institution) Amount

$

$

$

$

$

Who will be making the arrangements for the transfer of funds from your existing super accounts?

I, or my financial adviser is organising each rollover.

MLC is to arrange this transfer. To ensure we can do this please complete a

Request to transfer super benefits form for each rollover.

9. ContributionsAre you making any initial or regular contributions to your account?

No Go to Question 10


Please specify the type and amount(s) if you are making initial and/or regular contributions.

Contribution type Initial contribution Regular contribution

Personal contribution $ $

Employer contribution $ $

Spouse contribution $ $

If any of your personal contributions are being made:

• from the sale of a small business which qualifies for CGT concessions, or

• due to certain circumstances involving personal injury, you need to send us an election form for tax purposes before or at the time the contribution is made. The election forms and instructions can be found at ato.gov.au. Speak to your financial adviser for more information.


® Registered to BPAY Pty Ltd ABN 69 079 137 518

Your investment details continued

10. Contributions by direct debitAre you making your initial, regular or any future one-off contributions by direct debit from your financial institution account?



Please note:

•A valid TFN must be provided.

• You can’t split the payment of a contribution (eg personal) across two accounts.

• Telephone withdrawals will be activated using the financial institution details outlined in account one. This can be changed at any time.

•You can transfer funds from your financial institution into your MLC account by using Bpay®.

• Bpay details will be available once your application has been completed.

• If this application is received after 3 pm, your payment request will be processed using the unit price for the next available business day.

Direct Debit Request Schedule

Account one Account two

Name of financial institution

Name of account

BSB

Account number

Please specify the type of contribution(s) to be drawn from this account. You can select more than one.

Personal Employer Spouse

Please specify the contribution to be made from this account.

Initial contribution Preferred draw date (DD/MM/YYYY)

Regular Preferred draw date (DD/MM/YYYY)

contribution

If we are unable to meet this date, we will use the next available date of your frequency cycle after we complete processing your application.

If regular contributions are to be paid from this account, how often do you want contributions to be drawn? If you do not make a choice we will assume monthly.

Weekly Fortnightly Monthly Yearly


Name of account

BSB

Account number





Regular Preferred draw date (DD/MM/YYYY)

contribution


If regular contributions are to be paid from this account, how often do you want contributions to be drawn? If you do not make a choice we will assume monthly.

Weekly Fortnightly Monthly Yearly


Signature of account holder(s)If different to signature of applicant on page 14

Date (DD/MM/YY)

Date (DD/MM/YY)


11. Contributions by credit cardAre you making your initial contribution by credit card?



I (cardholder name) Name as it appears on the card

request MLC Nominees Pty Limited (ABN 93 002 814 959) to deduct from my credit card or any replacement/substituted card the contributions that I request.

Card number

MasterCard

Visa

Expiry date (MM/YY) Please specify the type of contribution(s) to be deducted from this credit card:


Signature of cardholder

Date (DD/MM/YY)


Date (DD/MM/YY)

Date (DD/MM/YY)


Your Protected options

12. Would you like to add protection to your super?



Protection detailsPlease choose one option

Protected Capital Go to Question 13

Protected Income Go to Question 14

13. Protected Capital

Please specify the investment option and term for your protection. You can only tick one investment option and one term. Please choose carefully, as you can’t change these features once you have chosen them.Please use this investment option in Question 15 when choosing your initial investment and draw down strategy.

Investment option 10 years 20 years



MLC Horizon 5 Growth Portfolio N/A



MLC Index Plus Growth Portfolio N/A

Please specify your estimated retirement date (DD/MM/YYYY)

(you may change this date at any time)

Optional extrasPlease specify if you would like an optional extra. This will increase your protection fee.

Additional investment benefit

Death benefit

Please go to Question 15


Your Protected options continued

14. Protected Income

Please specify the investment option and term for your protection. You can only tick one investment option and one term. Please choose carefully, as you can’t change these features once you have chosen them.

Please use this investment option in Question 15 when choosing your initial investment and draw down strategy.

Investment option 10 years 20 years For life



MLC Horizon 5 Growth Portfolio N/A N/A



MLC Index Plus Growth Portfolio N/A N/A


(you may change this date at any time before you start receiving an income)

Please specify when you would like your protected income payments to begin (DD/MM/YYYY)


Optional extra

Please specify if you would like the optional extra. This will increase your protection fee.

Spouse benefit


Investment options Initial investmentOngoing investment Fee draw down order

MLC investment options

MLC Horizon 1 Bond Portfolio % %

MLC Horizon 2 Capital Stable Portfolio % %

MLC Horizon 3 Conservative Growth Portfolio % %

MLC Horizon 4 Balanced Portfolio % %

MLC Horizon 5 Growth Portfolio % %

MLC Horizon 6 Share Portfolio % %

MLC Horizon 7 Accelerated Growth Portfolio % %

MLC Index Plus Conservative Growth Portfolio % %

MLC Index Plus Balanced Portfolio % %

MLC Index Plus Growth Portfolio % %

MLC Long-Term Absolute Return Portfolio % %

MLC Cash Fund % %

NAB Term Deposit – 6 months 1 % N/A N/A

NAB Term Deposit – 1 year 1 % N/A N/A

NAB Term Deposit – 2 years 1 % N/A N/A

MLC Diversified Debt Fund % %

MLC Property Securities Fund % %

MLC Global Property Fund % %

MLC Australian Share Fund % %

MLC Australian Share Value Style Fund % %

MLC Australian Share Growth Style Fund % %

MLC IncomeBuilder % %

MLC Global Share Fund % %

MLC Hedged Global Share Fund % %

MLC Global Share Value Style Fund % %

MLC Global Share Growth Style Fund % %

Your investment strategy15. I instruct the Trustee to allocate 100% of my initial and future contributions and rollovers to the MLC Cash Fund or as specified

in the table below.

In giving this instruction I have considered the information disclosed in the Investment Menu and Investment Protection Guide, if applicable, and determined that the investment option is appropriate for me.

• Initial investment – shows how you want your initial contributions and/or rollovers(s) allocated.

•Ongoing investment – shows how you want your regular and one-off contributions allocated in the future. Please note, if you have Protected Capital you may only invest future contributions to your investment option if you have elected to pay for it.

•Fee draw down order – shows the investment option(s) from which your fees are to be deducted. Please number the investment option(s) in order of preference (1, 2, 3 etc). If this column is left blank, fees will be deducted pro rata on the value of each option. Your Protection fees are deducted pro rata from your protected account balance. Some fees may impact your Investment Protection such as Adviser service fees. To avoid this, it is recommended that your chosen investment option with Investment Protection be placed last in your fee draw down sequence.

1 You can only invest up to 70% of your super account balance and you can’t invest once you reach age 90.


Investment options Initial investmentOngoing investment Fee draw down order


Altrinsic Global Equities Trust % %

Antares Elite Opportunities Fund % %

Antares High Growth Shares Fund % %

Arnhem Australian Equity Fund % %

Ausbil Australian Emerging Leaders Fund % %

BlackRock Global Allocation Fund % %

Fairview Equity Partners Emerging Companies Fund % %

Investors Mutual Australian Share Fund % %

Legg Mason Property Securities Trust % %

MLC – Platinum Global Fund (closed to new investors)2 % %

MLC – Vanguard Australian Share Index Fund % %

Northward Capital Australian Equity Trust % %

Perennial Value Shares Wholesale Trust % %

Perpetual Wholesale Australian Fund % %

Perpetual Wholesale Ethical SRI Fund % %

Perpetual Wholesale Smaller Companies Fund No.2 % %

Platinum Asia Fund % %

Platinum International Fund % %

PM CAPITAL Absolute Performance Fund % %

Schroder Wholesale Australian Equity Fund % %

Vanguard® Australian Fixed Interest Index Fund % %

Vanguard® Australian Property Securities Index Fund % %

Vanguard® International Fixed Interest Index Fund (Hedged) % %

Vanguard® International Shares Index Fund % %

Vanguard® International Shares Index Fund (Hedged) % %

2 Available only if you are transferring a balance in this investment option from another MLC product.

16. Do you want to re-invest your NAB Term Deposit on maturity for the same term?


Yes A reminder notice will be sent to you prior to maturity date.


Your beneficiary nomination

17. Please select one of the following options and complete the table below.

Non-lapsing binding We can only accept your nomination if two witnesses have signed and dated the witness declaration on the following page.

Non-binding Complete the table below.

Spouse benefit Complete the Spouse benefit nomination box 6 below. You must choose this nomination if you have opted for a Spouse benefit as part of your Protected Income. This is a non-lapsing binding nomination, we can only accept your nomination if two witnesses have signed and dated the witness declaration on the following page.

Name of beneficiary Please print full name Date of birth

Relationship to you Only the following options can be accepted

Portion of total benefit

1 Spouse

Child

Financial dependant

Interdependency relationship%

2 Spouse

Child

Financial dependant


3 Spouse

Child

Financial dependant


4 Spouse

Child

Financial dependant


5 Legal representative (your estate) Not applicable If you want part or all of your benefit paid to your estate, please write the percentage here. %

Total must equal 100% or all nominations will be invalid. You can nominate a percentage up to two decimal places. Total %

Spouse benefit Please print full name Gender Date of birth

This beneficiary can only be a spouse over 50 years


6 Spouse 100%

Agreement and declarationI’ve read and understood the information provided in the relevant How to Guide on beneficiary nominations on mlc.com.au

I understand I should review my nomination regularly, especially when my circumstances change (eg marriage, having children or any other life changing event), to ensure my nomination is always up to date.

I understand that if I have opted for a Spouse benefit as part of my Protected Income, I can’t change my beneficiary while invested in Protected Income. However, I may remove the Spouse benefit if my circumstances change, but I’ll continue to be charged for this option.

Signature of Applicant or Attorney

Date (DD/MM/YY)If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form.

Power of Attorney documents can’t be accepted via fax.


Information on nominating a beneficiary

Types of nominations

A non-lapsing binding nomination which is binding on the Trustee.

Selecting this nomination will make sure your account balance is paid as you have directed as long as the nomination is and remains valid. This nomination stands even when your personal circumstances change such as getting married, having children, or any other life-changing event occurs. It is therefore, very important to regularly review your nomination to make sure it reflects your current personal circumstances.

A non-binding nomination subject to Trustee discretion.

The Trustee will decide who receives your account balance, taking into consideration your preferred beneficiaries and your current circumstances at the date of your death.

No nomination.

The Trustee will decide who receives your account balance.

Spouse benefit

If you’ve opted for a spouse benefit as part of your Protected Income, your protected income payments will continue to be paid to your spouse upon your death. Your term will begin when each of you are over preservation age (currently 55 years) or older.You should read and understand the information provided in the Investment Protection Guide on spouse benefit available on mlc.com.au

Who can you nominate?Under superannuation law, you can nominate:

Individuals

• your spouse or de-facto spouse, including same sex partners

• children including step and adopted children, children of your spouse and other children within the meaning of the Family Law Act 1975

• individuals who are financially dependent on you at the time of your death

• someone in an interdependency relationship with you at the time of your death

Legal representative (your estate)

Your legal representative either the executor under your will or a person granted letters of administration for your estate if you die without having left a valid will.

Why can’t you nominate other family members or friends?The law only allows you to nominate individuals who are financially dependent on you or have an interdependency relationship with you at the time of your death. However, you can choose to have your benefit paid to your estate where you can nominate your friends and/or other family members in your will to receive these funds.

What is a financial dependant?Someone who is financially dependent upon you at the time of your death.

The definition of a dependant under superannuation legislation may be different to the definition which is used for Tax purposes. For more information on estate planning we recommend you speak with your financial or legal adviser.

What is an interdependent relationship?This is a close personal relationship between two people who live together, where one or both of them provide for the financial and domestic support and personal care of the other. This type of relationship may still exist if there is a close personal relationship but the other requirements aren’t satisfied because of some physical, intellectual or psychiatric disability.

Where can you check your beneficiary nomination?Your beneficiary nomination details will be confirmed each year in your Annual Statement and can be viewed online at any time on mlc.com.au

TaxationThe taxation rules relating to death benefits are complex and different taxation treatments may apply depending on the beneficiary nomination in place. Please seek advice from your tax adviser.

Your beneficiary nomination continued

Witness declaration (only required for non-lapsing binding nomination)I declare:

• I’m over 18 years of age.

• I’m not a nominated beneficiary of the applicant, and

• This form was signed and dated by the applicant in my presence.

Witness one Witness twoFirst name First name

Family name Family name

Signature of witness Signature of witness

Date (DD/MM/YY)

Date (DD/MM/YY)

The witness must sign on the same date as the applicant The witness must sign on the same date as the applicant otherwise we can’t accept the nomination. otherwise we can’t accept the nomination.


Other information

18. Authorised representative

Complete this question if you want to appoint another person to access information, switch investment options or make contributions on your account. Your authorised representative is not permitted to perform any other actions in respect of your account.

Do you want to nominate an authorised representative?



What level of authority will this person have on your account?

My authorised representative is able to make enquiries only on my account.

My authorised representative is able to make enquiries and switch investment options or make contributions on my account.

Applicants must be at least 18 years of age.


Title First name

Mr

Mrs

Miss

Ms

Other


Date of birth (DD/MM/YYYY) Email

Residential address

Your residential address can’t be a PO Box



Mobile phone number

Home telephone Business telephone

Signature of authorised representative

7Date (DD/MM/YY)


Other information continued

19. Adviser service fee

Have you negotiated an Adviser service fee?



I request, until further notice from me, that MLC deduct an Adviser service fee of the following amount from my account to pay my financial adviser for the advice provided in relation to my MLC MasterKey Super Fundamentals account.

Percentage based fee % pa of my account balance

OR

Dollar based fee $ pa

OR/AND

One off fee $

OR/AND

Adviser service fee on contributions % on each contribution

20. Payment of fees

All fees (except the Investment fee and any Adviser service fee on contributions) will be deducted monthly from your account on the anniversary of its commencement.

If you want fees deducted on another day of the month, please specify below.

Day of month to deduct fees (eg 15).


Applicant declarationMarketing consentWe always seek to better understand and serve your financial, e-commerce and lifestyle needs so we can offer you other products and services that aim to meet those needs as well as promotions or other opportunities. This applies to each organisation within the National Australia Group (the ‘Group’) including its banking, financing, funds management, financial planning, superannuation, insurance, broking and e-commerce organisations.

We request your consent to Group marketing activities. By giving your consent that you agree to receiving information about the products and services we have described, including by telephone calls to the numbers provided by you in this application or numbers you may provide later and by email if you have provided us with an email address. For this purpose, we may need to use and disclose your personal information amongst the Group, to your financial adviser, if any, and to service providers (for example, posting services). Your consent therefore includes the authority to use and disclose your personal information as described. We will not disclose health information.

Your consent will not change any specific product or service consent that you have given or will give in the future (for example, for a loyalty program or online direct marketing).

Do we have your consent? Yes No

If you do not answer your consent will be presumed.

Your consent will continue until you withdraw it. You can withdraw your consent at any time by contacting the MLC Service Centre on 132 652.

PrivacyI acknowledge that I have access to NAB’s privacy policy and agree that any member of the National Australia Bank Group may collect, use, disclose and handle my personal information in a manner set out in the Group’s privacy policy available on mlc.com.au

Member acceptanceI have received and read the current Product Disclosure Statement and apply to become a member of The Universal Super Scheme (‘the Scheme’), and agree to be bound by the provisions of the Trust Deed. I understand this application will form the basis of the contract between myself and the Trustee. I am eligible to contribute to the Scheme or have contributions made on my behalf. I acknowledge that it is my responsibility to be fully informed about any investment I consider for inclusion in my portfolio at all times.

Understanding investment riskI understand that my investment does not represent a deposit with or a liability of the Trustee, National Australia Bank Limited, or other member companies of the National Australia Bank Group. An investment in MLC MasterKey Super & Pension Fundamentals is subject to investment risk including possible delays in repayment and loss of income and capital invested. I understand that MLC Limited guarantees that the unit price in the MLC Cash Fund will not fall (before the deduction of management fees and taxes).

I acknowledge and accept that where I have invested into an illiquid investment option or an investment option I have has become illiquid, then MLC may take longer than 30 days in which to transfer out my investment option.

NAB Term DepositsI understand NAB Term Deposits are invested for a fixed term. Early withdrawals are only permitted in extreme circumstances and will result in reduced interest.

Throughout the duration of my term deposits I agree to maintain a minimum of 10% of my super account balance in other investment option(s) for fees and other costs plus a sufficient amount to cover one-off withdrawals. I also agree that one-off withdrawal requests that reduce the minimum of my other investment option(s) below 10% of my super account balance may not be processed.

Investment strategyI instruct the Trustee to allocate 100% of my initial and future contributions and rollovers to the MLC Cash Fund or as specified in Question 15. In giving this instruction I have considered the information disclosed in the Investment Menu and Investment Protection Guide, if applicable, and determined the investment option(s) is/are appropriate for me.

Investment protectionI understand if I have chosen MLC MasterKey Investment Protection, the protection doesn’t start until MLC has accepted my application.

Direct DebitIf I am using the direct debit facility for initial or future contributions I have read the Direct Debit Request Service Agreement.

Applicant declarationAs far as I am aware, everything I have provided in this Application Form is true, and if there are any changes to this information in the future, I will advise MLC as soon as possible.

Offer within AustraliaI understand that this offer is made in Australia in accordance with Australian laws and my account will be regulated by these laws.

Cooling-offI understand that if this investment does not suit me, I have 14 days after opening the account to advise MLC to close my account. For further information on cooling-off, please refer to the Product Disclosure Statement.

Notification of changesI understand that I will not be given advance notice of any product changes that are not materially adverse. I am aware that any non material changes will be available on mlc.com.au and I can obtain a paper copy of these changes on request, free of charge.

If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form.



Name

7Date (DD/MM/YYYY)


This section is for financial adviser use only

Financial adviser details

Financial advisor one

Name

Financial adviser number

Business number

Facsimile

Email

Adviser service fee split

%

Financial advisor two

Name


Business number

Facsimile

Email


%

Record of identification

Please complete the Record of identification below.

Applicant

ID Document Details Document 1 Document 2

Verified from

Original Original

Certified copy Certified copy

Document issuer

Issue date

Expiry date

Document number

Accredited English translation

N/A N/A

Sighted Sighted


Direct debit request service agreement

This Service Agreement and the Schedule in Question 10 contain the terms and conditions on which you authorise MLC to debit money from your account and the obligations of MLC and you under this agreement. You should read through the Service Agreement and Schedule carefully to ensure you understand these terms and conditions.

You should direct all enquiries about your direct debit to the MLC Client Service Centre on 132 652 between 8 am and 6 pm (AEST/ADST) on any business day.

Our commitment to you•we will give you at least 14 days notice in writing if there are

changes to the terms of drawing arrangements or if we cancel the drawing arrangements,

•we will keep the details of your nominated financial institution account confidential, except if it is necessary to provide your details to our bank for the purpose of conducting direct debits with your bank,

•where the due date is not a business day, we will draw from your nominated financial institution account on the business day before or after the due date in accordance with the terms and conditions of your MLC account.

Your commitment to usIt is your responsibility to:

• ensure your nominated financial institution account can accept direct debits,

• ensure there is sufficient money available in the nominated financial institution account to meet each drawing on the due date,

• advise us if the nominated financial institution account is transferred or closed, or the account details change. MLC requires a minimum of 7 working days notice of change for banks and 21 days for Building Societies,

• arrange an alternate payment method acceptable to MLC if MLC cancels the drawing arrangements,

• ensure that all account holders on the nominated financial institution account sign the Schedule in Question 10.

Your rights

You should contact us if you wish to alter the drawing arrangements. This includes:

• stopping an individual drawing,

• deferring a drawing,

• suspending future drawings,

• altering the Schedule, and

• cancelling the Schedule.

Where you consider that a drawing has been initiated incorrectly, you should first contact the MLC Client Service Centre on 132 652.

Other information

• the details of your drawing arrangements are contained in the Schedule in Question 10,

•MLC reserves the right to cancel drawing arrangements if drawings are dishonoured by your financial institution,

• if your drawing dishonours, your financial institution may charge you a fee. MLC does not currently charge for dishonours, but reserves the right to do so in the future,

• your drawing arrangements are also governed by the terms and conditions of your MLC account.




MLC MasterKey Super Fundamentals SPIN MLC0440AU



Completing the request to transfer super benefits form

Why consolidate your super?•Avoid duplicate costs: by moving all

of your super to your MLC account you may save on fees.

•Keep better track of your super: with one account to manage, you can more easily see how your super is performing.

•Hassle free transfer: transferring money to your MLC account is easy—MLC does all the work for you. Just complete the attached request form.

How to complete the request to transfer form

Step 1: Ensure that you complete all of the personal details accurately so that there is no delay in processing your request.

Step 2: Details of your from and to super funds can be found on statements and other documents issued by the fund. If you are in doubt contact your fund or your financial adviser.

Step 3: Proof of identity. You will need to provide certified documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong.

Acceptable documents to prove identity. A certified copy of the following documents should be provided with this request form.

Either

One of the following documents only:

• a driver’s licence issued under State or Territory law, or

• a passport.

Or

One of the following documents:

• birth certificate or birth extract

• citizenship certificate issued by the Commonwealth

• pension card issued by Centrelink that entitles you to financial benefits.

And one of the following documents:

• letter from Centrelink regarding a Government assistance payment

• notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example, Tax Office Notice of Assessment or Rates notice from local council.

Certification of personal documentsThe following persons are authorised to certify a document as a true copy of the original document

•A person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner (however described)

•A Justice of the Peace

•A judge of a court

•A magistrate

•A chief executive officer of a Commonwealth court

•A registrar or deputy registrar of a court

•A notary public (for the purposes of the Statutory Declaration Regulations 1993)

•A police officer

•An agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public

•A permanent employee of the Australian Postal Corporation with 2 or more years of continuous service who is employed in an office supplying postal services to the public

•An Australian consular officer or an Australian diplomatic officer (within the meaning of the Consular Fees Act 1955)

•An officer with 2 or more continuous years of service with one or more financial institutions (for the purposes of the Statutory Declaration Regulations 1993) (eg bank manager, bank officer)

•A finance company officer with 2 or more continuous years of service with one or more finance companies (for the purposes of the Statutory Declaration Regulations 1993)

•An officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more continuous years of service with one or more licensees (eg financial planner, adviser, broker)

•A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership.

If you have any questions, please call the MLC Client Service Centre on 132 652 between 8 am and 6 pm (AEST/ADST) on any business day.


This page has been left blank intentionally.


Request to transfer balance of superannuation benefits between funds


Step 1: Personal details

Step 2: Fund details

Mr Mrs Miss Ms Other

Family name*

Given names*

Other/Previous names (attach certified copies of documents)*

Date of birth Gender

Tax File Number

Current address*

Postcode

Previous address (if you know that the address held by your from fund is different to your current residential address, please give details below)

Postcode

Your contact phone number *

FROM

Fund name*

Note: Please complete the address details on the back of the form.

Fund phone number

Membership or account number

Australian Business Number (ABN)

Superannuation Product Identification Number (SPIN)

Please transfer:

Total balance or Partial balance $

Date left service of previous employer (applicable only for employer sponsored superannuation plan)

Date (DD/MM/YY)

TO

Fund name*

The Universal Super Scheme

Existing member * New member

Fund phone number

1 3 2 6 5 2

Account Number (if known)

Australian Business Number (ABN) *

4 4 9 2 8 3 6 1 1 0 1


MLC 0440AU

Product name*


* Denotes mandatory information. If you do not complete all of the mandatory information, there may be a delay in processing this request.

Completing this form•Read the information on previous page before completing

this form.

•You will need to provide certified copies of identification documents with the completed form.

After completing this form•Sign the authorisation.

•Send the original form with certified proof of identity documents to your from or to fund.

• Faxed copies will not be accepted.

Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your tax file number, but there may be tax consequences.

Male Female

Step 3: Proof of identity * (if you don’t supply this, it may delay processing this request)1. I have attached a certified copy of my driver’s licence

or passportOR 2. I have attached certified copies of both:

Birth/Citizenship Certificate or Centrelink Pension Card AND

Centrelink payment letter or Government or local council notice (< 1 year old) with name and address)


By signing this request form I am making the following statements:

• I declare I have fully read this form and the information completed is true and correct.

• I am aware I may ask my superannuation provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and do not require any further information.

• I authorise the transfer of any contribution to be made by my previous employer which is received by my other fund after the benefits have been transferred to The Universal Super Scheme.

• I understand that, in certain circumstances, The Universal Super Scheme may be required to deduct tax from the untaxed portion (if any) of the amount transferred.

• I discharge the superannuation provider of my FROM fund of all further liability in respect of the benefits paid and transferred to The Universal Super Scheme.

• I authorise my adviser/Trustee representative to follow up and enquire on this application.

I request and consent to the transfer of superannuation as described above, and authorise the superannuation provider of each fund to give effect to this transfer.

Name* (Print in block letters)

Signature*

7Date (DD/MM/YY)

How to lodge this formYou can lodge this form with MLC or you can send it directly to your FROM fund.

To assist MLC with lodgement of this form, please complete the address details below.

The Universal Super Scheme (‘the Fund’)• The Fund is a resident regulated superannuation fund within

the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS).

• The Trustee (MLC Nominees Pty Limited) certifies that the Fund is not subject to a direction under section 63 of SIS.

• It is the intention of the Trustee to manage the Fund in compliance with the SIS laws, tax laws and the relevant requirements of the Corporations Act and guidelines issued by ASIC, APRA and the ATO.

• The Trust Deed governing the Fund allows benefits to be transferred or rolled over, from other resident regulated superannuation funds or superannuation products.

• The Trustee will comply with the Government’s preservation rules in relation to the amount transferred or rolled over to the Fund

•Members are not permitted to borrow monies from the Fund.

Please make cheque payable to: MLC Nominees Pty Limited

Please send cheques, contribution details and any Rollover Benefit Statements to:

MLC MasterKey Super Fundamentals, PO Box 200, North Sydney NSW 2059

If you have any questions call the MLC Client Service Centre on 132 652 between 8 am and 6 pm AEST/ADST on any business day. Please quote the Membership or Account number shown in Step 2.

From Fund Name

From Fund Address

IN CONFIDENCE – when completed

Step 4: Authorisation

Confirmation to your FROM fund

Fold here

Fold here


Page 1

Complete this form if you want to nominate a superannuation fund or retirement savings account (RSA) to receive any superannuation entitlements we hold for you.

WHEN COMPLETING THIS FORM■ Print clearly in BLOCK LETTERS using a black pen only.

S M I T H S T

■ Place X in ALL applicable boxes.

MORE INFORMATIONFor help with completing this form, phone us on 13 10 20 between 8.00am and 6.00pm, Monday to Friday.

If you do not speak English well and want to talk to a tax officer, phone the Translating and Interpreting Service on 13 14 50 for help with your call.

If you have a hearing or speech impairment and have access to appropriate TTY or modem equipment, phone 13 36 77. If you do not have access to TTY or modem equipment, phone the Speech to Speech Relay Service on 1300 555 727.

Superannuation fund nomination

NAT 8676–10.2007

Section A: Personal details Fields with an asterisk (*) must be completed

We are authorised by the Taxation Administration Act 1953 to request your tax file number (TFN). It is not an offence not to quote your TFN but not providing it may lead to delays in processing your nomination.

1 Tax file number (TFN)

2* Full name

Title: Mr Mrs Miss Ms Other

Family name

First given name Other given name

3* Date of birthDay Month Year

4* Daytime phone number

5* Current postal address

Suburb/town State/territory Postcode

6 Email address

IN-CONFIDENCE – when completed

86761007


Page 2 IN-CONFIDENCE – when completed

Lodging your nomination formPost it to: Australian Taxation Office PO Box 3578 ALBURY NSW 2640

OR Fax it to: Australian Taxation Office 1300 139 024

Section C: SignaturePenaltiesThe tax law imposes heavy penalties for giving false or misleading information.

PrivacyThe collection of the information in this notice is authorised by the Superannuation Guarantee (Administrations) Act 1992, Superannuation (Government Co-Contributions for Low Income Earners) Act 2003, Small Superannuation Accounts Act 1995 and their respective Regulations. Provision of this information will help the Tax Office administer the superannuation laws.

Where authorised by law, this information may also be given to other government agencies, including the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority.

Signature

DateDay Month Year

Section B: Fund details

Read the following instructions to help you complete this section.

Before providing details of the superannuation fund or RSA you wish to nominate, check that the fund/RSA:■ is a complying superannuation fund, and ■ will accept superannuation payments from us.

When contacting your fund/RSA, obtain:■ their Australian business number (ABN), and ■ the member account number the superannuation payments should be sent to.

We recommend you ensure your fund/RSA has the same personal name and contact details for you as we have. Any discrepancies in these details could result in delays in processing your superannuation payments.

To check the complying status of your fund/RSA, use the Super Fund Lookup service at www.abn.business.gov.au

7* Provide the fund’s/RSA’s ABN

10* Member account number

11* Member account name

This nomination form will continue to apply until: ■ you nominate a new complying superannuation fund or RSA, or ■ the fund or RSA you have nominated advises us they will no longer accept payments.

8* Full name of superannuation fund/RSA

9 Superannuation product identification number

4 9

M

3

0

1

0

4 2

L

6

4

0

A

8

C

1

4

1

U

T I RH VU SE EN A L S S C H E M EU P E R



7943

5M11

12




MLC MasterKey Pension Fundamentals SPIN MLC0420AU

MLC MasterKey Pension Fundamentals Application Form Page 1 of 24


The information in this document forms part of the Product Disclosure Statement, dated 7 December 2012. Together with the Fee Flyer, Investment Protection Guide and Investment Menu, these documents should be considered before making a final decision to invest.

Important informationBefore sending this Application Form to MLC, please check that you have completed:

• all the questions on the Application Form (as appropriate) by printing clearly in the spaces provided and have signed the relevant sections.

• any Request to transfer super benefits forms and they are signed by you.

Proof of Identity MLC is required to verify your identity before you can access your money. You may choose to provide your proof of identity with this application.

• If you are applying for this product via a financial adviser, they will verify your identity.

• If you are applying for this product directly to MLC please attach certified copies of relevant proof of identity documents as outlined on the Proof of Identity form on mlc.com.au

If you are making a contribution by cheque, please make it payable to MLC Nominees Pty Limited, crossed ‘Not negotiable’.Please forward everything to: MLC MasterKey Pension Fundamentals, PO Box 200, North Sydney NSW 2059

Your application details1. Do you have an existing MLC MasterKey Super Fundamentals account?

Yes No

2. Personal details


Title First name

Mr

Mrs

Miss

Ms

Other


Date of birth (DD/MM/YYYY) Gender Tax File Number (TFN)

Male

Female

You don’t have to provide your TFN, however if you don’t:

• personal contributions will be rejected

• additional tax will apply to employer and salary sacrifice contributions

• any withdrawals will be taxed at the highest marginal tax rate inclusive of the Medicare Levy.

Your TFN is confidential, and MLC is authorised by tax laws to collect your TFN. MLC must use your TFN only for lawful reasons, in paying out monies, identifying or combining superannuation benefits. Your TFN may be disclosed to the Trustee or another Fund or RSA provider if your benefits are transferred, unless you request in writing for it not to be disclosed.

You should be aware that:

• If you have more than one pension account, the tax-free threshold can only be claimed on one pension account, and

• If you are claiming the Senior Australians Tax offset, please complete a Withholding Declaration, available from the ATO.

Application Form

MLC MasterKey Pension Fundamentals


Your application details continued

3. Residential address Your residential address can’t be a PO Box.



4. Postal address (If different to your residential address)Your postal address can’t be your financial adviser’s address.

Unit number Street number PO Box Street name


5. Telephone contactsHome telephone Business telephone

Mobile phone number

6 . Email contactPlease provide us with your email address so we can let you know when your Annual Statement is available to view.

Email address

Your investment details

7. RolloversWill you be transferring any amounts before starting your MLC MasterKey Pension Fundamentals account?


Yes Go to Question 8

8. Are you transferring, in part or in full, any existing MLC MasterKey account(s)?

No Go to Question 9

Yes Please provide your existing MLC account number

9. Will you be transferring any other amount before starting this account?


Yes Complete table below


$

$

$

$

$



10. Who will be making the arrangements for the transfer of funds from your existing super accounts?

Please tick the applicable box below.

I, or my financial adviser is organising each rollover.

MLC is to arrange this transfer. To ensure we can do this please complete a Request to transfer super benefits form for each rollover.

11. Contributions

Are you making any contributions before starting your MLC MasterKey Pension Fundamentals account?



Contribution type Amount

Personal contribution $

Employer contribution $

Spouse contribution $




12. Claiming a tax deductionDoes your initial balance include any personal contributions that you will be claiming as a tax deduction in the current or previous financial year?

Personal contributions Amount you claimed or are claiming

Current financial year $ $

Previous financial year $ $

Please complete these details accurately as we can’t accept notification of your intention to claim a deduction after your pension has commenced.

13. Initial pension balanceDo you want to leave a portion of the contributions and rollovers made with this application in your MLC MasterKey Super Fundamentals account?


Yes You can specify either a dollar amount OR percentage of your superannuation balance

Amount ($) OR Portion (%)

14. How would you like your investment allocated in MLC MasterKey Super Fundamentals?

As per my investment strategy outlined in Question 25

MLC Cash Fund



15. Payment of fees

All fees (except the Investment fee and any Adviser service fee on contributions) will be deducted monthly from your account on the anniversary of its commencement.

If you want fees deducted on another day of the month, please specify below.

Day of the month to deduct fees (eg 15).

Your pension details

16. Are you permanently retired or starting your pension with 100% unrestricted non-preserved funds?

No Yes

17. Is this a transition to retirement pension?

No Yes

18. Select the annual amount of income (gross of tax) you want to receive?

the Minimum allowed amount

the Maximum allowed amount (applies to a transition to retirement pension only)

a Specified amount $

This must be within the required minimum and maximum (if applicable) limits. We will adjust your specified amount to the minimum or maximum if it does not fall within the limits.

19. If you have selected a Specified amount, do you want the amount increased each year?


Yes Select the amount of annual increase

1% 2% 3% 4% 5% 10%

Your pension payment facility

20. Direct Debit Request Schedule / Pension payments

Please note:

• If you quote invalid bank account details, there may be a delay in the pension being paid.

• The same account can be nominated for making contributions and receiving income payments.

•Account one will be used for any telephone withdrawals.

• The Direct Debt Request Service Agreement on page 16 describes the terms and conditions

• If you’d like someone else to receive your income, please send us proof of identity for each bank account holder. Please go to mlc.com.au for the Proof of Identity form.


Your pension payment facility continued

Initial contributionAre you making any initial contributions to your account?


Yes What type(s) of initial contribution do you want to make from this account?



Preferred draw date (DD/MM/YYYY)


Date (DD/MM/YY)

Date (DD/MM/YY)

Initial contributionAre you making any initial contributions to your account?


Yes What type(s) of initial contribution do you want to make from this account?



Preferred draw date (DD/MM/YYYY)


Date (DD/MM/YY)

Date (DD/MM/YY)

21. Pension payments

Do you want us to make your pension payments into this account?

No Go to Account two

Yes What portion of your pension is to be paid to this account?

%

When do you want your pension payments to start?

Preferred start date (DD/MM/YYYY)

If we are unable to meet this date, we’ll use the next available date of your frequency cycle after we complete processing your application.

Select the preferred frequency of your pension payments.

Weekly Fortnightly Monthly

Quarterly Half Yearly Yearly

Do you want us to make your pension payments into this account?



%

When do you want your pension payments to start?

Preferred start date (DD/MM/YYYY)

If we are unable to meet this date, we’ll use the next available date of your frequency cycle after we complete processing your application.

Select the preferred frequency of your pension payments.


Quarterly Half Yearly Yearly



Name of account

BSB

Account number


Name of account

BSB

Account number


Your Protected options

22. Would you like to add protection to your pension?



Protection detailsPlease choose one option

Protected Capital Go to Question 23

Protected Income Go to Question 24

23. Protected Capital

Please specify the investment option and term for your protection. You can only tick one investment option and one term.

Please choose carefully, as you can’t change these features once you have chosen them.


Investment option 10 years 20 years



MLC Horizon 5 Growth Portfolio N/A



MLC Index Plus Growth Portfolio N/A


(you may change this date at any time)

Optional extraPlease specify if you would like the optional extra. This will increase your protection fee.

Death benefit

Please go to Question 25


Your Protected options continued

24. Protected Income

Please specify the investment option and term for your protection. You can only tick one investment option and one term.

Please choose carefully, as you can’t change these features once you have chosen them.


Investment option 10 years 20 years For life



MLC Horizon 5 Growth Portfolio N/A N/A



MLC Index Plus Growth Portfolio N/A N/A



Please specify when you would like your protected income payments to begin (DD/MM/YYYY)


Optional extra

Please specify if you would like the optional extra. This will increase your protection fee.

Spouse benefit


Your investment strategy

25. I instruct the Trustee to allocate 100% of my pension account balance, and set my draw down payments from, the MLC Cash Fund or as specified in the table below.

In giving this instruction I have considered the information disclosed in the Investment Menu and Investment Protection Guide, if applicable, and determined that the investment option is appropriate for me.

• Initial investment – shows how you want your initial investment(s) allocated.

•Draw down strategy for income payments – shows the proportion (%) of your income to be deducted from each investment option.

•Draw down sequence for income payments – shows the order of your income to be deducted from each investment option.

•Draw down sequence for fees – shows how your fees are to be deducted. Please number the investment option(s) in order of preference (1, 2, 3 etc). If this column is left blank, fees will be deducted pro rata from your protected account balance. Your Protection fees are deducted from your protected account balance. Some fees may impact your investment protection such as Adviser service fees. To avoid this, it is recommended that your chosen investment option with Investment Protection be placed last in your fee draw down sequence.

•Pro rata – if no draw down strategy is nominated your income payments will be deducted pro rata on the value of each investment option in your account.

Investment optionsInitial investment

Draw down strategy for income payments

Draw down sequence for income payments

Draw down sequence for fees

MLC investment options

MLC Horizon 1 Bond Portfolio % %

MLC Horizon 2 Capital Stable Portfolio % %

MLC Horizon 3 Conservative Growth Portfolio % %

MLC Horizon 4 Balanced Portfolio % %

MLC Horizon 5 Growth Portfolio % %

MLC Horizon 6 Share Portfolio % %

MLC Horizon 7 Accelerated Growth Portfolio % %

MLC Index Plus Conservative Growth Portfolio % %

MLC Index Plus Balanced Portfolio % %

MLC Index Plus Growth Portfolio % %

MLC Long-Term Absolute Return Portfolio1 % %

MLC Cash Fund % %

NAB Term Deposit – 6 months 2 % N/A N/A N/A

NAB Term Deposit – 1 year 2 % N/A N/A N/A

NAB Term Deposit – 2 years 2 % N/A N/A N/A

MLC Diversified Debt Fund % %

MLC Property Securities Fund % %

MLC Global Property Fund % %

MLC Australian Share Fund % %

MLC Australian Share Value Style Fund % %

MLC Australian Share Growth Style Fund % %

MLC IncomeBuilder % %

MLC Global Share Fund % %

MLC Hedged Global Share Fund % %

MLC Global Share Value Style Fund % %

MLC Global Share Growth Style Fund % %

1 You are only allowed to hold up to 25% of your pension account in this Portfolio. 2 You can only invest up to 70% of your pension account balance and you can’t invest once you reach age 90.


Investment optionsInitial investment

Draw down strategy for income payments

Draw down sequence for income payments

Draw down sequence for fees


Altrinsic Global Equities Trust % %

Antares Elite Opportunities Fund % %

Antares High Growth Shares Fund % %

Arnhem Australian Equity Fund % %

Ausbil Australian Emerging Leaders Fund % %

BlackRock Global Allocation Fund % %

Fairview Equity Partners Emerging Companies Fund % %

Investors Mutual Australian Share Fund % %

Legg Mason Property Securities Trust % %

MLC – Platinum Global Fund (closed to new investors)3 % %

MLC – Vanguard Australian Share Index Fund % %

Northward Capital Australian Equity Trust % %

Perennial Value Shares Wholesale Trust % %

Perpetual Wholesale Australian Fund % %

Perpetual Wholesale Ethical SRI Fund % %

Perpetual Wholesale Smaller Companies Fund No.2 % %

Platinum Asia Fund % %

Platinum International Fund % %

PM CAPITAL Absolute Performance Fund % %

Schroder Wholesale Australian Equity Fund % %

Vanguard® Australian Fixed Interest Index Fund % %

Vanguard® Australian Property Securities Index Fund % %

Vanguard® International Fixed Interest Index Fund (Hedged) % %

Vanguard® International Shares Index Fund % %

Vanguard® International Shares Index Fund (Hedged) % %

3 Available only if you are transferring a balance in this investment option from another MLC product.

26. Do you want to re-invest your NAB Term Deposit on maturity for the same term?


Yes A reminder notice will be sent to you prior to maturity date.


Your beneficiary nomination

27. Please select one of the following options and complete the table below.



Reversionary Complete the reversionary nomination box 6 below.

Spouse benefit Complete the spouse benefit nomination box 7 below. This is a reversionary nomination. You must choose this nomination if you have chosen the spouse benefit option as part of your Protected Income.

Please see the following details of who you can nominate and types of nominations.




1 Spouse

Child

Financial dependant


2 Spouse

Child

Financial dependant


3 Spouse

Child

Financial dependant


4 Spouse

Child

Financial dependant




Name of reversionary beneficiary Please print full name Gender Date of birth



6

Spouse

Child*

Financial dependant

Interdependency relationship

100%

*A child beneficiary must be under the age of 18, between 18 and 25 and financially dependent upon you, or disabled at the time of your death to receive a reversionary pension. If the child is not disabled the pension must be taken as a lump sum at age 25.

Spouse benefit Please print full name Gender Date of birth

This beneficiary can only be a spouse over 50 years


7 Spouse 100%

Agreement and declarationI’ve read and understood the information provided in the relevant How to Guide on beneficiary nominations on mlc.com.auI understand I should review my nomination regularly, especially when my circumstances change (eg marriage, having children or any other life changing event), to ensure my nomination is always up to date.I understand that if I have opted for a spouse benefit as part of my Protected Income, I can’t change my beneficiary while invested in Protected Income. However, I may remove the spouse benefit if my circumstances change, but I’ll continue to be charged for this option.


Date (DD/MM/YY)If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form.



Your beneficiary nomination continued





Witness one Witness two

First name First name


Signature of witness Signature of witness

Date (DD/MM/YY)

Date (DD/MM/YY)

The witness must sign on the same date as the applicant The witness must sign on the same date as the applicant otherwise we can’t accept the nomination. otherwise we can’t accept the nomination.


Types of nominationsA non-lapsing binding nomination which is binding on the Trustee.




No nomination.


A reversionary nomination.

Your pension payments continue to be paid to your nominated beneficiary.

Spouse benefit

If you’ve opted for a spouse benefit as part of your Protected Income, your protected income payments will continue to be paid to your spouse upon your death. Your term will begin when each of you are over preservation age (currently 55 years) or older. You should read and understand the information provided in the Investment Protection Guide on spouse benefit available on mlc.com.au


Individuals












TaxationThe taxation rules relating to death benefits are complex and different taxation treatments may apply depending on the beneficiary nomination in place. Please seek advice from your tax adviser.


Other information

28. Authorised representative

Complete this question if you want to appoint another person to access information or switch investment options on your account. Your authorised representative is not permitted to perform any other actions in respect of your account. (eg make withdrawals or rollovers from your account).

Do you want to nominate an authorised representative?

No Go to next Question 29


What level of authority will this person have on your account?

My authorised representative is able to make enquiries only on my account.

My authorised representative is able to make enquiries and switch investment options on my account.

Applicants must be at least 18 years of age.


Title First name

Mr

Mrs

Miss

Ms

Other



Residential address

Your residential address can’t be a PO Box



Mobile phone number

Home telephone Business telephone

Signature of authorised representative

7Date (DD/MM/YY)


Other information continued

29. Centrelink or Veterans’ Affairs Schedule

Do you require a Centrelink or Veterans’ Affairs Schedule?

No

Yes


Have you negotiated an Adviser service fee?



I request, until further notice from me, that MLC deduct an Adviser service fee of the following amount from my account to pay my financial adviser for the advice provided in relation to my MLC MasterKey Pension Fundamentals account.


OR


OR/AND

One off fee $

OR/AND


31. Australian residency

Are you or have you ever been a temporary resident of Australia?

No Go to Applicant declaration

Yes Go to Question 32

32. If you are or have been a temporary resident of Australia, are you:

•An Australian citizen, or

•A New Zealand citizen, or

• The holder of an eligible retirement visa (refer to the How to Guide), or

•Now a permanent Australian resident?


Yes Go to Applicant declaration

33. Are you applying for this pension:

•Due to total and permanent disablement, or

•Due to terminal illness, or

•As a death benefit, or

•Because you were:

• 55 or over before 1/4/2009 and you are starting a transition to retirement pension, or

•You were 55 or over and fully retired before 1/4/2009?

No You can only apply for a lump sum (Departing Australia Superannuation Payment – refer to ato.gov.au)

Yes Go to Applicant declaration


Marketing consentWe always seek to better understand and serve your financial, e-commerce and lifestyle needs so we can offer you other products and services that aim to meet those needs as well as promotions or other opportunities. This applies to each organisation within the National Australia Group (the ‘Group’) including its banking, financing, funds management, financial planning, superannuation, insurance, broking and e-commerce organisations.

We request your consent to Group marketing activities. By giving your consent that you agree to receiving information about the products and services we have described, including by telephone calls to the numbers provided by you in this application or numbers you may provide later and by email if you have provided us with an email address. For this purpose, we may need to use and disclose your personal information amongst the Group, to your financial adviser, if any, and to service providers (for example, posting services). Your consent therefore includes the authority to use and disclose your personal information as described. We will not disclose health information.

Your consent will not change any specific product or service consent that you have given or will give in the future (for example, for a loyalty program or online direct marketing).

Do we have your consent? Yes No

If you do not answer your consent will be presumed.

Your consent will continue until you withdraw it. You can withdraw your consent at any time by contacting the MLC Service Centre on 132 652.

PrivacyI acknowledge that I have access to NAB’s privacy policy and agree that any member of the National Australia Bank Group may collect, use, disclose and handle my personal information in a manner set out in the Group’s privacy policy available on mlc.com.au

Member acceptanceI have received and read the current Product Disclosure Statement and apply to become a member of The Universal Super Scheme (‘the Scheme’), and agree to be bound by the provisions of the Trust Deed. I understand this application will form the basis of the contract between myself and the Trustee. I am eligible to contribute to the Scheme or have contributions made on my behalf. I acknowledge that it is my responsibility to be fully informed about any investment I consider for inclusion in my portfolio at all times.

Understanding investment riskI understand that my investment does not represent a deposit with or a liability of the Trustee, National Australia Bank Limited, or other member companies of the National Australia Bank Group. An investment in MLC MasterKey Super & Pension Fundamentals is subject to investment risk including possible delays in repayment and loss of income and capital invested. I understand that MLC Limited guarantees that the unit price in the MLC Cash Fund will not fall (before the deduction of management fees and taxes).

I acknowledge and accept that where I have invested into an illiquid investment option or an investment option I have has become illiquid, then MLC may take longer than 30 days in which to transfer out my investment option.

NAB Term DepositsI understand NAB Term Deposits are invested for a fixed term. Early withdrawals are only permitted in extreme circumstances and will result in reduced interest.

Throughout the duration of my term deposits I agree to maintain a minimum of 10% of my pension account balance in other investment option(s) for fees and other costs plus a sufficient amount to cover pension payments and one-off withdrawals. I also agree that one-off withdrawal requests that reduce the minimum of my other investment option(s) below 10% of my pension account balance may not be processed.

Investment strategyI instruct the trustee to allocate 100% of my pension account balance to the MLC Cash Fund or as specified in Question 25. In giving this instruction I have considered the information disclosed in the Investment Menu and Investment Protection Guide and determined that the investment option(s) is/are appropriate for me.

Investment protectionI understand if I have chosen MLC MasterKey Investment Protection, the protection doesn’t start until MLC has accepted my application.




Cooling-offI understand that if this investment does not suit me, I have 14 days after opening the account to advise MLC to close my account. For further information on cooling-off, please refer to the Product Disclosure Statement.

Notification of changesI understand that I will not be given advance notice of any product changes that are not materially adverse. I am aware that any non material changes will be available on mlc.com.au and I can obtain a paper copy of these changes on request, free of charge.

If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form.



Name

7Date (DD/MM/YYYY)

Applicant declaration


This section is for financial adviser use only

Financial advisor details

Financial advisor one

Name


Business number

Facsimile

Email


%

Financial advisor two

Name


Business number

Facsimile

Email


%

Record of identification

Please complete the Record of identification below.

Applicant Third party

Please complete if payments are to be made to a third party bank account. If the account is in joint names, proof of identity is required for each account holder.


Verified from

Original Original


Document issuer

Issue date

Expiry date

Document number


N/A N/A

Sighted Sighted


Verified from

Original Original


Document issuer

Issue date

Expiry date

Document number


N/A N/A

Sighted Sighted


Direct debit request service agreement

This Service Agreement and the Schedule in Question 20 contain the terms and conditions on which you authorise MLC to debit money from your account and the obligations of MLC and you under this agreement. You should read through the Service Agreement and Schedule carefully to ensure you understand these terms and conditions.

You should direct all enquiries about your direct debit to the MLC Client Service Centre on 132 652 between 8 am and 6 pm (AEST/ADST) on any business day.

Our commitment to you•we will give you at least 14 days notice in writing if there

are changes to the terms of drawing arrangements or if we cancel the drawing arrangements,






• advise us if the nominated financial institution account is transferred or closed, or the account details change. MLC requires a minimum of 7 working days notice of change for banks and 21 days for Building Societies,


• ensure that all account holders on the nominated financial institution account sign the Schedule in Question 20.

Your rightsYou should contact us if you wish to alter the drawing arrangements. This includes:







Other information• the details of your drawing arrangements are contained

in the Schedule in Question 20,







MLC MasterKey Pension Fundamentals SPIN MLC0420AU



Completing the request to transfer super benefits form

Why consolidate your super?•Avoid duplicate costs: by moving all

of your super to your MLC account you may save on fees.

•Keep better track of your super: with one account to manage, you can more easily see how your super is performing.

•Hassle free transfer: transferring money to your MLC account is easy—MLC does all the work for you. Just complete the attached request form.

How to complete the request to transfer form

Step 1: Ensure that you complete all of the personal details accurately so that there is no delay in processing your request.

Step 2: Details of your from and to super funds can be found on statements and other documents issued by the fund. If you are in doubt contact your fund or your financial adviser.

Step 3: Proof of identity. You will need to provide certified documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong.

Acceptable documents to prove identity. A certified copy of the following documents should be provided with this request form.

Either

One of the following documents only:

• a driver’s licence issued under State or Territory law, or

• a passport.

Or

One of the following documents:

• birth certificate or birth extract

• citizenship certificate issued by the Commonwealth

• pension card issued by Centrelink that entitles you to financial benefits.

And one of the following documents:

• letter from Centrelink regarding a Government assistance payment

• notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example, Tax Office Notice of Assessment or Rates notice from local council.

Certification of personal documentsThe following persons are authorised to certify a document as a true copy of the original document

•A person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner (however described)

•A Justice of the Peace

•A judge of a court

•A magistrate

•A chief executive officer of a Commonwealth court

•A registrar or deputy registrar of a court

•A notary public (for the purposes of the Statutory Declaration Regulations 1993)

•A police officer

•An agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public

•A permanent employee of the Australian Postal Corporation with 2 or more years of continuous service who is employed in an office supplying postal services to the public

•An Australian consular officer or an Australian diplomatic officer (within the meaning of the Consular Fees Act 1955)

•An officer with 2 or more continuous years of service with one or more financial institutions (for the purposes of the Statutory Declaration Regulations 1993) (eg bank manager, bank officer)

•A finance company officer with 2 or more continuous years of service with one or more finance companies (for the purposes of the Statutory Declaration Regulations 1993)

•An officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more continuous years of service with one or more licensees (eg financial planner, adviser, broker)

•A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership.

If you have any questions, please call the MLC Client Service Centre on 132 652 between 8 am and 6 pm (AEST/ADST) on any business day.


Request to transfer balance of superannuation benefits between funds


Step 1: Personal details

Step 2: Fund details


Family name*

Given names*

Other/Previous names (attach certified copies of documents)*

Date of birth Gender

Tax File Number

Current address*

Postcode

Previous address (if you know that the address held by your from fund is different to your current residential address, please give details below)

Postcode

Your contact phone number *

FROM

Fund name*

Note: Please complete the address details on the back of the form.

Fund phone number

Membership or account number

Australian Business Number (ABN)


Please transfer:

Total balance or Partial balance $

Date left service of previous employer (applicable only for employer sponsored superannuation plan)

Date (DD/MM/YY)

TO

Fund name*

The Universal Super Scheme

Existing member * New member

Fund phone number

1 3 2 6 5 2

Account Number (if known)

Australian Business Number (ABN) *

4 4 9 2 8 3 6 1 1 0 1


MLC 0420AU

Product name*


* Denotes mandatory information. If you do not complete all of the mandatory information, there may be a delay in processing this request.

Completing this form•Read the information on previous page before completing

this form.

•You will need to provide certified copies of identification documents with the completed form.

After completing this form•Sign the authorisation.

•Send the original form with certified proof of identity documents to your from or to fund.

• Faxed copies will not be accepted.

Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your tax file number, but there may be tax consequences.

Male Female

Step 3: Proof of identity * (if you don’t supply this, it may delay processing this request)1. I have attached a certified copy of my driver’s licence

or passportOR 2. I have attached certified copies of both:

Birth/Citizenship Certificate or Centrelink Pension Card AND

Centrelink payment letter or Government or local council notice (< 1 year old) with name and address)


By signing this request form I am making the following statements:

• I declare I have fully read this form and the information completed is true and correct.

• I am aware I may ask my superannuation provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and do not require any further information.

• I authorise the transfer of any contribution to be made by my previous employer which is received by my other fund after the benefits have been transferred to The Universal Super Scheme.

• I understand that, in certain circumstances, The Universal Super Scheme may be required to deduct tax from the untaxed portion (if any) of the amount transferred.

• I discharge the superannuation provider of my FROM fund of all further liability in respect of the benefits paid and transferred to The Universal Super Scheme.

• I authorise my adviser/Trustee representative to follow up and enquire on this application.

I request and consent to the transfer of superannuation as described above, and authorise the superannuation provider of each fund to give effect to this transfer.

Name* (Print in block letters)

Signature*

7Date (DD/MM/YY)

How to lodge this formYou can lodge this form with MLC or you can send it directly to your FROM fund.

To assist MLC with lodgement of this form, please complete the address details below.

The Universal Super Scheme (‘the Fund’)• The Fund is a resident regulated superannuation fund within

the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS).

• The Trustee (MLC Nominees Pty Limited) certifies that the Fund is not subject to a direction under section 63 of SIS.

• It is the intention of the Trustee to manage the Fund in compliance with the SIS laws, tax laws and the relevant requirements of the Corporations Act and guidelines issued by ASIC, APRA and the ATO.

• The Trust Deed governing the Fund allows benefits to be transferred or rolled over, from other resident regulated superannuation funds or superannuation products.

• The Trustee will comply with the Government’s preservation rules in relation to the amount transferred or rolled over to the Fund

•Members are not permitted to borrow monies from the Fund.

Please make cheque payable to: MLC Nominees Pty Limited

Please send cheques, contribution details and any Rollover Benefit Statements to:

MLC MasterKey Pension Fundamentals, PO Box 200, North Sydney NSW 2059

If you have any questions call the MLC Client Service Centre on 132 652 between 8 am and 6 pm AEST/ADST on any business day. Please quote the Membership or Account number shown in Step 2.

From Fund Name

From Fund Address

IN CONFIDENCE – when completed

Fold here

Fold here

Step 4: Authorisation

Confirmation to your FROM fund


This declaration is NOT an application for a tax fi le number.■ Use a black or blue pen and print clearly in BLOCK LETTERS.■ Print X in the appropriate boxes.■ Read all the instructions prior to completing this declaration.

Tax fi le number declaration

NAT 3092-07_REV.2012

Once this form is completed and signed, send the original to the Tax Office and keep our copy in a secure place.

Section A: To be completed by the PAYEE

Surname or family name

First given name

Other given names

Mr Mrs MsMiss2 What is your name? Title:

3 If you have changed your name since you last dealt with the ATO show yourprevious family name

5 What is your home address in Australia?

Suburb or town

State

6 On what basis are you paid? (Select only one.)Full-time

employmentPart-time

employmentLabour

hireSuperannuationincome stream

Casualemployment

7 Are you an Australian resident for tax purposes? NoYes

You must answer Noat question 8.

9 Do you want to claim the senior Australians tax offset by reducing the amount withheld from payments made to you?

Yes NoComplete a Withholding declaration, but only if you are claiming the tax-free threshold from this payer. If you have more than one payer, please contact the Tax Office on 132 861.

10 Do you want to claim a zone, overseas forces, dependent spouse or special tax offset by reducing the amount withheld from payments made to you? Yes No

Complete a Withholding declaration (NAT)3093.

OR I am claiming an exemption because I am under 18 years of age and do not earn enough to pay tax.

OR I am claiming an exemption becauseI am in receipt of a pension, benefit or allowance.

OR I have made a separate application/enquiry to the Tax Offi ce for a new or existing TFN. See Privacy

of information on the next page.

4 What is your date of birth?Month YearDay

8 Do you want to claim the tax-free threshold from this payer?

Answer No at questions 9 and 10 unless you are a foreign-resident claiming a senior Australians, zone or overseas forces tax offset.Yes No

If you have more than one source of income andcurrently claim the tax-free threshold from another payer, do not claim it now.

ONLY CLAIM THE TAX-FREE THRESHOLD FROM ONE PAYER.

11 (a) Do you have an accumulated Higher Education Loan Programme (HELP) debt?

Yes NoYour payer will withhold additional amounts to cover any compulsoryrepayments that maybe raised on your notice of assessment.

(b) Do you have an accumulated Financial Supplement debt?

Yes NoYour payer will withhold additional amounts to cover any compulsoryrepayments that may be raised on your notice of assessment.

Signature

There are penalties for deliberately making a false or misleading statement.

Month YearDayDate

DECLARATION by payee: I declare that the information I have given is true and correct.

1 What is your tax fi le number (TFN)?

3 What is your registered business name or trading name (or your individual name if not in business)

Please estimate the time taken to completesection B.

mins

5 Who is your contact person

Business phone number

TAXPAYER-IN-CONFIDENCE (when completed)

Branch number(if applicable)

4 What is your business address?

Suburb or town

State Postcode

There are penalties for deliberately making a false or misleading statement or failingto forward the original to the Tax Offi ce.

Signature of payerDECLARATION by payer: I declare that the information I have given is true and correct.

Month YearDayDate For WA, SA, NT, VIC or TAS

Australian Taxation Offi cePO Box 795Albury NSW 2640

Return completed original Tax Offi ce copy to:For NSW, QLD or ACTAustralian Taxation Offi cePO Box 9004Penrith NSW 2740

6 If you no longer make payments to this payee, print X in this box

Yes No

2 If you don’t have an ABN or withholding payer number, have you applied for one?

Section B: To be completed by the PAYER1 What is your Australian business number (ABN) (or your

withholding payer number?

4 4 9 2 8 3 6 1 1 0 1

T H E U N I V E R S A L S U P E R

S C H E M E

1 0 5 – 1 5 3 M I L L E R S T

N O R T H S Y D N E Y

M A S T E R K E Y S E R V I C E S

1 3 2 6 5 2

N S W 2 0 6 0

Postcode/ Territory

You MUST sign here.


PRIVACY OF INFORMATION

The Income Tax Assessment Act 1936 authorises the Tax Office to request information in this declaration. The information will help the Tax Office administer the laws relating to tax, and help other government agencies administer other legislation covering Australian Government benefits and superannuation. All information the Tax Office collects, including personal information, is treated as confidential and is protected by the Income Tax Assessment Act 1936 and the Privacy Act 1988.

The Tax Office may give this information to other government agencies as authorised by the tax laws, for example, Australian Government agencies that administer laws relevant to your particular situation. Depending on your situation, these agencies could include Centrelink, the Australian Federal Police, the Child Support Agency, the Department of Veterans’ Affairs, the Department of Immigration and Multicultural and Indigenous Affairs, the Department of Family and Community Services and the Department of Education, Science and Training.

If you quote your tax file number (TFN) to your payer, in some circumstances they may, and in others must, give your TFN to your superannuation fund.

Only certain people and organisations can ask for your TFN. These include employers, some Australian Government agencies, trustees for superannuation funds, payers under the pay as you go (PAYG) system, higher education providers, the Child Support Agency and investment bodies such as banks. Section 202C of the Income Tax Assessment Act 1936 authorises the Tax Office to request quotation of your TFN on this declaration for the purposes of administering tax laws. It is not an offence not to quote your TFN, but there may be consequences if you do not, for example, you may have extra tax withheld.

If you need more information about how the tax laws protect your personal information, or have any concerns about how the Tax Office has handled your personal information, phone 132 861 between 8.00 am and 6.00 pm, Monday to Friday.



6992

3M11

12


MLC Nominees Pty Ltd ABN 93 002 814 959 AFSL 230702 RSE L0002998

The Universal Super SchemeABN 44 928 361 101R1056778

Application to Transfer to MLC MasterKey Super & Pension Fundamentals Page 1 of 2

Application to Transfer to MLC MasterKey Super & Pension Fundamentals

MLC Superannuation


The information in this document forms part of the Product Disclosure Statement, dated 7 December 2012. Together with the Fee Flyer and Investment Menu, these documents should be considered before making a final decision to invest.

Important informationYou can use this form if you hold a MLC MasterKey Super or MLC MasterKey Pension account and wish to apply for a MLC MasterKey Super Fundamentals or MLC MasterKey Pension Fundamentals account.

1. Your application details

Are you submitting an application for:



Please note: if you are invested in a NAB Fixed Rate Fund, this investment option can not be transferred to MLC MasterKey Pension Fundamentals.

Account number Customer number

Title First name

Mr

Mrs

Miss

Ms

Other



Mobile phone number Business telephone

Home telephone

Application to Transfer to MLC MasterKey Super & Pension Fundamentals Page 2 of 2

7401

2M11

12

2. Adviser service feeHave you negotiated an Adviser service fee?

No

Yes Please complete the details below:

I request, until further notice from me, that MLC deduct an Adviser service fee of the following amount from my account to pay my financial adviser for the advice provided in relation to my MLC MasterKey Super & Pension Fundamentals account.


OR


OR/AND

One off fee $

OR/AND


3. Applicant declarationMember acceptanceI have received and read the current Product Disclosure Statement and apply to become a member of The Universal Super Scheme (‘the Scheme’), and agree to be bound by the provisions of the Trust Deed. I understand this application will form the basis of the contract between myself and the Trustee. I am eligible to contribute to the Scheme or have contributions made on my behalf.

I acknowledge that it is my responsibility to be fully informed about any investment I consider for inclusion in my portfolio at all times.

Unless otherwise specified in this application, I confirm that all instructions that apply to my current MLC MasterKey Super or MLC MasterKey Pension account shall apply to my new account in the Fundamentals product.

Understanding investment risk I understand that my investment does not represent a deposit with or a liability of the Trustee, National Australia Bank Limited, or other member companies of the National Australia Bank Group. An investment in MLC MasterKey Super & Pension Fundamentals is subject to investment risk including possible delays in repayment and loss of income and capital invested. I understand that MLC Limited guarantees that the unit price in the MLC Cash Fund will not fall (before the deduction of management fees and taxes).



Cooling offI understand that if this investment does not suit me, I have 14 days after opening the account to advise MLC to close my account. For further information on Cooling off, please refer to the Product Disclosure Statement.

Notification of changesI understand that I will not be given advance notice of any product changes that are not materially adverse. I am aware that any non-material changes will be available on mlc.com.au and I can obtain a paper copy of these changes on request, free of charge.

Signature of Applicant or Power of Attorney

Name

7Date (DD/MM/YY)

If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney if not already supplied. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form. Power of Attorney documents can’t be accepted by fax.

4. Send us your form

Please mail or fax your completed, signed and dated form to:

MLC MasterKey Super PO Box 200 North Sydney NSW 2059

Fax Number: 02 9964 3334

If you have any questions, please speak with your financial adviser call us on 132 652 on Monday to Friday between 8.00 am and 6.00 pm (AEST/AEDT), or visit mlc.com.au

MLC MasterKey Super & Pension MLC MasterKey Super & Pension Fundamentals


MLC Nominees Pty Ltd ABN 93 002 814 959 AFSL 230702 RSE L0002998


Application to Transfer your Pension Benefit Page 1 of 9


Information in this document forms part of the Product Disclosure Statement, dated 7 December 2012. Together with the Fee Flyer and Investment Menu, these documents should be considered before making a final decision to invest.

Important informationYou can use this form if you hold a MLC MasterKey Pension or MLC MasterKey Pension Fundamentals account.

Before sending this form to MLC, please check that you have completed all questions on the form (as appropriate) by printing clearly in the spaces provided and have signed the relevant sections.

If you are making a contribution by cheque, please make it payable to MLC Nominees Pty Limited, crossed ‘Not negotiable’.

1. Your application details Account number

Existing MasterKey Customer number

Existing NAB Customer number

Title


First name


Date of birth (DD/MM/YYYY)

2. Your benefit instructions

Do you wish to fully withdraw your pension benefit and use the proceeds to:

Commence a new super account or contribute to your existing super account?Please complete section 3, 6 and 7.

Commence a new super account or contribute to your existing super account and then commence a new pension account?Please complete every section.

Application to Transfer your Pension Benefit


3. Your super details

If you want to change your investment strategy please complete a switch and investment strategy form available on mlc.com.au

Rollovers Will you be rolling over any additional amounts into your super account?

No Go to next question

Yes Show the source and amount of each rollover.


$

$

$

To ensure we can process your request, please complete a Request to Transfer Super Benefits form for each rollover available on mlc.com.au

Contributions Are you making any initial or regular contributions to your super account?

No Go to Section 4

Yes Complete the table below

Please specify the type and amount(s) if you are making initial and/or regular contributions.

Contribution type Initial contribution Regular contribution

Personal contribution $ $

Employer contribution $ $

Spouse contribution $ $




Contribution fee Will there be a contribution fee?

Contribution fees are not applicable to MLC MasterKey Super Fundamentals.


Yes Select contribution fee below (if no nomination is made, a 0% contribution fee will be applied to the initial and any future contributions).

Contribution fee for initial contribution:

0% 1% 2% 3% 4% 5% Other

Contribution fee for future and one-off contribution:

0% 1% 2% 3% 4% 5% Other


3. Your super details continuedContributions by credit cardAre you making your initial contributions by credit card?


Yes Provide the details below

I (cardholder name)

I request MLC Nominees Pty Ltd (ABN 93 002 814 959) to deduct from my credit card or any replacement/substituted card the contributions that I request.

MasterCard

Visa

Expiry date (MM/YY)

Card number

Name as it appears on the card

Please specify the type of contribution(s) to be deducted from this credit card:

Personal Employer* Spouse

*Authorised person to sign below

Signature of cardholder

7Date (DD/MM/YY)

Contributions by direct debitAre you making the initial, regular or any future one-off contributions by direct debit from a bank or similar financial institution account?


Yes Provide the details below

Important notes:• The Direct Debit Request Service Agreement on page 9 describes the terms and conditions.

•A valid TFN must be provided.

Direct debit request schedule

Name of financial institution Name of account

BSB Account number




Regular contribution Preferred draw date (DD/MM/YYYY)

Please specify the type of contribution(s) you want to be drawn from this account. You can select more than one.

Personal Employer

Spouse

If regular contributions are to be paid from this account, how often do you want contributions to be drawn? If you don’t make a choice we will assume monthly.


Quarterly

Signature of account holder(s) Signature of account holder(s)If different to the signature of applicant on page 8 If different to the signature of applicant on page 8

Date (DD/MM/YY)

Date (DD/MM/YY)


4. Your pension details

If you want to change your investment strategy please complete a switch and drawdown strategy form available on mlc.com.au

Complete remaining form if you are recommencing a pension

Are you leaving a balance in your super account?


Yes How much would you like to leave in your super account?

$ OR %

Do you intend to claim a tax deduction for personal contributions made in the current or previous year?


Yes Complete the table below

Contribution Personal contributions Amount you claimed or are claiming

Current financial year $ $

Previous financial year $ $

Please ensure that you complete these details accurately as we cannot accept notification of your intention to claim a deduction after your pension has commenced.

Are you permanently retired or starting your pension with 100% unrestricted non-preserved funds?

No

Yes

Is this a transition to retirement pension?

No

Yes

What annual amount of pension (before tax) do you want to receive? (Select one only)

the Minimum allowed amount

the Maximum allowed amount (only applies if you answered ‘Yes’ to the previous question and the maximum amount won’t be paid pro-rata)

a specified amount $ pa The amount must be within the required annualised minimum and maximum

(if applicable) limits. We will adjust the amount to the minimum or maximum if it does not fall within the limits.

If you have selected a specified amount, do you want the amount increased each year?


Yes Select the amount of annual increase

1% 2% 3% 4% 5% 10%


4. Your pension details continued

Would you like us to make your pension payments to your specified bank or financial institution account in Section 3?

No Complete account details below


Important notes: •AvalidTFNmustbeprovided•Ifpaymentsaretobemadetoathirdpartyaccountwhereyouarenottheaccountholder,wewillrequirecertifiedcopies

of relevant proof of identity documents. If the third party account is in joint names, proof of identity is required for each account holder.


Name of financial institution Name of financial institution

Name of account

BSB

Account number

Name of account

BSB

Account number

What portion of your pension is to be paid to this account?

%

What portion of your pension is to be paid to this account?

%

When do you want your pension payments to start? (DD/MM/YYYY)

When do you want your pension payments to start? (DD/MM/YYYY)


Select the preferred frequency of your pension payments. If no preferred frequency is elected, we will make your pension payments monthly.


Quarterly Half-Yearly

Yearly

%


5. Your beneficiary nomination

Do you wish to update your beneficiary nomination?


Yes Please complete details below:

Please select one of the following options and complete the table below.



Reversionary Complete the reversionary nomination box 6 below. This nomination is only applicable to new investors in pension accounts.

Please see the following page for details of who you can nominate and types of nominations.




1 Spouse

Child

Financial dependant


2 Spouse

Child

Financial dependant


3 Spouse

Child

Financial dependant


4 Spouse

Child

Financial dependant




Name of reversionary beneficiary Please print full name Gender Date of birth



6

Spouse

Child*

Financial dependant

Interdependency relationship

100%

* A child beneficiary must be under the age of 18, between 18 and 25 and financially dependent upon you, or disabled at the time of your death to receive a reversionary pension. If the child is not disabled the pension must be taken as a lump sum at age 25.

Agreement and declarationI’ve read and understood the information provided in the relevant How to Guide on beneficiary nominations.

I understand I should review my nomination regularly, especially when my circumstances change (eg marriage, having children or any other life changing event), to ensure my nomination is always up to date.

Signature of applicant

Date (DD/MM/YY)

If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney if not already supplied. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form. Power of Attorney documents can’t be accepted via fax.


5. Your beneficiary nomination continued





Witness one First name

Witness two First name


Signature of witness

7Date (DD/MM/YY)

The witness must sign on the same date as the applicant, otherwise we can’t accept the nomination.

Signature of witness

7Date (DD/MM/YY)

The witness must sign on the same date as the applicant, otherwise we can’t accept the nomination.


Types of nominations

A non-lapsing binding nomination which is binding on the Trustee.




No nomination.



Individuals












TaxationThe taxation rules relating to death benefits are complex and different taxation treatments may apply depending on the beneficiary nomination in place. Please seek advise from your tax adviser.


7. Applicant declarationMember acceptanceI have received and read the current Product Disclosure Statement and apply to become a member of The Universal Super Scheme (‘the Scheme’), and agree to be bound by the provisions of the Trust Deed. I understand this application will form the basis of the contract between myself and the Trustee. I am eligible to contribute to the Scheme or have contributions made on my behalf.

I acknowledge that it is my responsibility to be fully informed about any investment I consider for inclusion in my portfolio at all times.

Understanding investment riskI understand that my investment does not represent a deposit with or a liability of the Trustee, National Australia Bank Limited, or other member companies of the National Australia Bank Group. An investment in MLC MasterKey Super & Pension and MLC MasterKey Super & Pension Fundamentals is subject to investment risk including possible delays in repayment and loss of income and capital invested. I understand that MLC Limited guarantees that the unit price in the MLC Cash Fund will not fall (before the deduction of management fees and taxes).


Applicant declaration As far as I am aware, everything I have provided in this Application Form is true, and if there are any changes to this information in the future, I will advise MLC as soon as possible.


Cooling offI understand that if this investment does not suit me, I have 14 days after opening the account to advise MLC to close my account. For further information on Cooling off, please refer to the Product Disclosure Statement.

Notification of changesI understand that I will not be given advance notice of any product changes that are not materially adverse. I am aware that any non-material changes will be available on mlc.com.au and I can obtain a paper copy of these changes on request, free of charge.

Applicant or Power of attorney

Name

7Date (DD/MM/YY)

If signed under the Power of Attorney: Attorneys must attach a certified copy of the Power of Attorney if not already supplied. The Attorney hereby certifies that he/she has not received notice of any limitation or revocation of his/her Power of Attorney and is also authorised to sign this form. Power of Attorney documents can’t be accepted via fax.


Have you negotiated an Adviser service fee? Do you wish to have an Adviser service fee deducted from your account?



I request, until further notice from me, that MLC deduct an Adviser service fee of the following amount from my account to pay my financial adviser for the advice provided in relation to my MLC MasterKey account.


OR

Dollar based fee $

OR/AND

One off fee $

OR/AND



8. Direct debit service agreementThis Service Agreement and the Schedule on page 3 contain the terms and conditions on which you authorise MLC to debit money from your account and the obligations of MLC and you under this agreement. You should read through the Service Agreement and Schedule carefully to ensure you understand these terms and conditions.

You should direct all enquiries about your direct debit to the MLC Client Service Centre on 132 652 between 8 am and 6 pm (Sydney time) on any business day.

Our commitment to you•we will give you at least 14 days notice in writing if there are

changes to the terms of drawing arrangements or if we cancel the drawing arrangements,






• advise us if the nominated financial institution account is transferred or closed, or the account details change. MLC requires a minimum of: 7 working days notice of change for banks and 21 days for Building Societies,


• ensure that all account holders on the nominated financial institution account sign the Schedule on page 3.

Your rights

You should contact us if you wish to alter the drawing arrangements. This includes:







Other information

• the details of your drawing arrangements are contained in the Schedule on page 3,




9. Send us your formPlease mail or fax your completed, signed and dated form to:

MLC MasterKey Super PO Box 200 North Sydney NSW 2059

Fax Number: 02 9964 3334

If you have any questions, please speak with your financial adviser call us on 132 652 on Monday to Friday between 8.00 am and 6.00 pm (AEST/AEDT), or visit mlc.com.au

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