Superannuation News

From 4 February 2012, the way you access the investment profiles for the underlying cash and managed fund investment options on the Plan’s website will change.

The investment profiles will continue to be on the Plan’s website, but in order to view them you will need to:

• be registered for online access to your account; and
  
• log in to a secure section of the Plan’s website.

If you are not currently registered for online access to your account, please click here to apply for a user identification and password.

Once you are registered you can make other changes to your account details – for example, you can change your personal contact details, update your tax file number, switch your investments online, and view your account balance, transaction history and your insurance cover at a time which best suits you.

We are also pleased to advise that these investment profiles will be now be updated monthly instead of quarterly.

Bendigo SmartStart Super offers clients a low cost, simple, easy to use accumulation superannuation plan with flexible insurance options and extras.

When you invest your super with Bendigo SmartStart Super you’ll benefit from:

• Low cost and high customer support - fees are kept to a minimum.
  
• Simplicity - it’s easy to use and you have access to simple and convenient investment options managed by reputable investment managers.
  
• Core investment offering - a cash investment option and 10 ready-made diversified investment fund options.
  
• Flexibility - offering a full suite of investment options designed to meet your risk profile, flexible contribution methods, and a number of online services.
  
• Flexible insurance options and extras - including death only, death and total and permanent disablement and/or income protection.

Head of Sandhurst Trustees, Paul Rohan said:

“Sandhurst Trustees, one of the oldest and most experienced parts of the Bendigo business has developed a new, affordable and easy to understand superannuation product flexible enough to suit most Australians.

We designed and built SmartStart Super as part of our ongoing commitment across the Bendigo and Adelaide Bank group to provide solutions, however our customers choose to engage with us.

Customers can expect our traditional hassle-free service, ease of understanding, fast turnaround times and the flexibility they need to help them achieve their retirement savings goals”. Mr Rohan concluded.

For more information regarding Bendigo SmartStart Super click here or simply call us on 1800 018018.

Various funds that are available to members in The Bendigo Superannuation Plan (the Plan) have changed their name and in some cases its fees. See the table below for a summary of the changes.

The OnePath Wholesale Capital Guaranteed Fund is closed to new investments. However, members with an existing investment can make additional investments.

For the most up to date information regarding these funds please refer to the Disclosure Documents page of the plans website.

The Bendigo Superannuation Plan Second Supplementary Product Disclosure Statement (Second SPDS) and new Application Forms was issued on 27 April 2012. Please click here to view the Second SPDS. It updates the Plan’s investment menu and the operation of the standard investment strategies.

From 4 February 2012, the way you access the investment profiles for the underlying cash and managed fund investment options on the Plan’s website will change.

The investment profiles will continue to be on the Plan’s website, but in order to view them you will need to:

• be registered for online access to your account; and
  
• log in to a secure section of the Plan’s website.

If you are not currently registered for online access to your account, please click here to apply for a user identification and password.

Once you are registered you can make other changes to your account details - for example, you can change your personal contact details, update your tax file number, switch your investments online, and view your account balance, transaction history and your insurance cover at a time which best suits you.

We are also pleased to advise that these investment profiles will be now be updated monthly instead of quarterly.

The Bendigo Superannuation Annual Report 2011 is available for viewing by clicking here.

If you would like to receive a printed copy of the report, please contact one of our Client Service Officers on 1800 033 426 or email us at superannuation@bendigobank.com.au.

Sandhurst Trustees Limited as trustee of the Bendigo Superannuation Plan (the Plan) has closed the investment options listed below to new members and removed them from the Plan’s investment menu.

Members who are currently invested in these options can continue to make additional investments. However, existing members who do not hold investments in these options cannot invest.

The names of the below investments were changed effective 30 September 2011.

On 23 November 2011 Global Value Investors Limited, the investment manager of the GVI Industrial Share Fund (Fund) appointed Aubrey Capital Management Limited (Aubrey) as its sub-investment manager. Aubrey is now responsible for the day to day investment management decisions of the Fund. Subsequently, the Trustee of the Bendigo Superannuation Plan has closed this investment option until Aubrey has been fully evaluated by the Trustee. However, members invested in this option can continue to make new investments into it.

Please refer to this website for further updates.

Sandhurst Trustees Limited (Sandhurst) as trustee of the Bendigo Superannuation Plan ABN 57 526 653 420 (the Plan), is making an important change to the way it will charge member fees in the Plan.

From 1 October 2011, Sandhurst will deduct its administration fee from members’ accounts on a quarterly basis, instead of half-yearly. The amount of the fee payable ($53.28 per annum, or $4.44 per month, for each member) will not change, but the fee will now be deducted from the member’s Cash at Bank in advance at the beginning of each quarter (ie, at the beginning of January, March, June and September) instead of in advance at the beginning of each half –year (ie, at the beginning of January and July).

Members who join the Plan between 1 July and 31 December 2011 will have a pro-rata deduction made in arrears for the period from joining to 31 December, plus their quarterly advance deduction made at the beginning of January 2012.

Member fees are calculated based on the number of days a member is invested in the Plan, so a member who joins or leaves the Plan during a quarter will pay the fee on a pro rata basis. If the member fee for the period has already been deducted, a refund will be made.

Please refer to the Product Disclosure Statement for the Plan for further information about the fees and costs charged to members of the Plan. The Product Disclosure Statement is available at www.sandhursttrustees.com.au/superannuation/super-pds.asp.

For all queries please contact our Customer Service Centre, from Monday to Friday 8.00am – 6.00pm (Victorian time).

Telephone: 1800 033 426
Facsimile: 03 6215 5800
Website: www.sandhursttrustees.com.au/superannuation
Email: superannuation@bendigobank.com.au

From 1 July 2010, premiums for insurance held within The Bendigo Superannuation Plan will be deducted monthly in arrears rather than annually in advance. There will be no additional loading applied as a result of the change in payment frequency.

This change means that more of members' superannuation will be invested for a greater portion of the financial year.

Effective 17 February 2010, the following amendments will be made to certain fees that you may incur when investing in the Bendigo Superannuation Plan.

A contribution fee cap has been introduced for non advised members (i.e. Members who do not invest in the Plan via a financial adviser). Members who do not have a financial adviser will be charged 4.1% (including GST) on each gross contribution up to a maximum of $1,000 for each contribution. Advised members continue to have the flexibility to agree the amount of their contribution fee directly with their adviser, up to a cap of 4.1%on the gross contribution amount.

Adviser Service Fee cap

An adviser service fee cap of $10,000 each year has been introduced. This replaces your adviser's ability to receive a percentage based adviser service fee on an ongoing basis (formally up to 2% of your Member Account balance each year). The amount paid to your adviser continues to be an amount agreed directly between you and your adviser, subject to the adviser service fee cap. Any arrangements you currently have to pay a percentage based Adviser Service Fee will be allowed to continue.

A Supplementary Product Disclosure Statement (SPDS) dated 17 February 2010 detailing these changes and other legislative changes is available here. The SPDS updates the Bendigo Superannuation Plan Product Disclosure Statement (PDS) dated 28 July 2008 and should be read together with the PDS and any updates to the PDS available on our website from time to time. For further information about these changes please contact us on 1800 033 426.