Choice of Superannuation Fund Employer Guide · 5 ANZ Choice of Superannuation Fund Employer Guide – ASA > within 28 days of becoming aware that an employee’s chosen fund is no

Choice of Superannuation FundEmployer Guide

ANZ Super AdvantageMay 2005

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ANZ’s commitment to makingChoice of Superannuation Fund(COF) easy has never beenstronger!On 14 March 2005, the Federal Government released COFregulations which clarified the obligations that you as an employer will need to meet under the COF legislation and whatyour employees will need to do to assist you in meeting them.

As an employer with an ANZ Super Advantage plan, we arecommitted to supporting you throughout the lead up to COFcommencement on 1 July and beyond. In this Employer Guide we guide you through COF, recap the facts of COF legislationand answer key questions you may have about the newinformation released on 14 March and how this impacts you.Finally, we reinforce the strength of your existing ANZ SuperAdvantage plan and the variety of choice it offers youremployees.

We hope you find this update valuable and keep it as an easyreference tool as we make our way closer to 1 July 2005!

Index

COF facts – your questions answered Page 3

What is ANZ doing to help you and your employees through this period of change? Page 8

ANZ Super Advantage is choice ready Page 8

ANZ’s SuperChoice clearing service willbe FREE*, easy and ready for July Page 9

We are committed to keeping you and your employees informed Page 10

*The clearing service will be free of charge for many employers. The service will

be free where employers nominate ANZ Super Advantage as their default fund

and where 50% of employees have their contributions paid to that fund. The 50%

assessment will be based on the total number of employees whose contributions

are being administered through the SuperChoice system.

ANZ Managed Investments Limited ABN 61 004 392 269 AFSL 238344 (ANZMI)

is the Trustee of the Fund, and the issuer of this Employer Guide. ANZMI is a

subsidiary of ING Australia Limited ABN 60 000 000 779 (INGA).

An investment in ANZ Super Advantage is neither a deposit nor a liability of

Australia and New Zealand Banking Group Limited ABN 11 005 357 522 or

its related companies (ANZ Group), INGA, ING Bank (Australia) Limited

ABN 24 000 893 292 or any other company in the ING Group.

In this Employer Guide, the terms 'us', 'we' and 'our' refer to ANZMI.

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COF facts – your questions answeredTo help you navigate your way to 1 July with ease, we will:

> recap on COF legislative facts, and

> provide you with a quick way to identify new informationthat has come to light over the past month. This informationwill be visible by the change in background colour in thissection of the guide, as demonstrated below.

Essentially, new information released on 14 March and sincethis time, include:

> the minimum level of life insurance cover that the employerdefault fund is required to offer

> the information an employee making a new fund choicemust give to their employer

> the content of the standard choice form; and

> the support the Federal Government through the AustralianTaxation Office (ATO) will offer employers and their employees.

Lets recap the facts…What is COF and why has it been introduced?COF legislation will allow many employees to choose aneligible choice fund into which their SuperannuationGuarantee (SG) contributions will be paid. COF has beenintroduced to provide employees with the ability to takecontrol of their superannuation, which for many will be theirlargest source of retirement savings. The ability to choose a superannuation fund will commence on 1 July 2005.This is a very important date.

Who will COF legislation apply to?The government has estimated that COF legislation willaffect 4.82 million employees and 654,000 employersin the Australian workforce. (Source: The Association of Superannuation Funds of Australia – ASFA)

As indicated above, this legislation only applies to thosemaking or receiving SG contributions after 1 July 2005, having no bearing on contributions paid before this time or to future employer contributions outside of SG contributions (e.g. salary sacrifice).

Who will COF NOT apply to?Generally, COF legislation will not require an employer tocontribute to an employee’s chosen fund where they fallwithin one of the following groups:

> some public sector employees

> employees whose contributions are made under or inaccordance with, Certified Agreements or AustralianWorkplace Agreements under either the IndustrialRelations Act 1988 or the Workplace Relations Act 1996

> employees subject to certain Victorian governmentemployment agreements in force under the EmployeeRelations Act 1992 of Victoria and which continues to be in operation under section 515 of the WorkplaceRelations Act 1996

> employees who currently have all or part of theircontributions made under, or in accordance with, a State industrial award. However, the Government intendsto use the Corporations Act 2001 (Cth) to override state lawsand give choice to employees working for a corporation andwho are subject to a state award from 1 July 2006

> some employees who are receiving defined benefits.This includes those employees who have reached theirmaximum benefit in their scheme and their employer doesnot need to make further SG contributions, or who, on theirtermination of employment would be entitled to the sameamount of benefit from the defined benefit scheme whetheror not they chose a new fund, or where the defined benefitscheme is in surplus

> employees whose contributions are made under a law ofthe Commonwealth, of a State or of a Territory

It is important to note that all employees on federal awardshave COF, whether the award states that super contributionsmust be made to a specified fund or not.

The ATO has advised that where an employer is not sure ofwhat award or industrial agreement (if any) their employeesare covered by, they can check with their employer associationor the WageNet website at www.wagenet.gov.au (for federalawards and agreements and links to information on stateawards), or phone the workplace relations department in their state or territory.

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What will an employee need to do if they have COF?Under COF, an employee can do one of two things:

> do nothing and stay in their employer’s default eligiblechoice fund, or

> choose an alternative eligible choice fund (the ‘chosenfund’) to which their employer will have to contribute SGcontributions on their behalf.

If an employee does not exercise choice, then an employercan choose a complying superannuation fund/scheme orRetirement Savings Account (RSA) to contribute SG benefits to.It is expected that this default eligible choice fund will be theexisting employer sponsored superannuation fund that is inplace as at 30 June 2005, (eg. ANZ Super Advantage).

Where an employee is covered under a Federal Award and the Federal Award nominates a fund or list of funds, then theemployer must choose one of these funds as the employerdefault fund in respect of that employee.

What will an employee need to do if they wish to make a newfund choice (i.e. direct their SG contributions to another fund)?

1. Gather information about the superannuation optionsthat are available to them prior to making a choice, in order to help determine which will be the most suitable to meettheir ongoing needs and objectives.To assist employees in doing this, the standard choice formreleased on 14 March 2005 by the ATO contains a ‘Tipsfor Comparing Funds’ section. This section highlights fees,death and disability insurance, investment choice andinvestment performance as key issues employees shouldconsider both within their existing employer superannuationfund and any other fund they are considering as an alternative.

A standard choice form must be given by an employer to their eligible employees (i.e. employees that have choice).Employees can also obtain information on comparing fundsin Super Choices, which is being sent to employers by the ATO, and is available from www.superchoice.gov.au or byphoning 13 28 64. Of course, this support is in addition to the information that can be gained by seeking financialadvice from a financial planner.

2. Notify their employer of their fund choice. Employees can make a new fund choice in one of three ways:

> By completing a standard choice form. When completedcorrectly, the standard choice form will provide an employerwith all the information necessary for them to contribute tothe new chosen fund

> By completing a pre-populated document which may besupplied by a superannuation fund. This document mayhave the fund details completed, leaving blank fields tosimply fill in

> By providing written notice containing all the necessaryinformation.

The information that needs to be provided by the employee,as outlined in the standard choice form is:

> the full name and contact details of the fund

> the employee’s account name in the fund

> the number or other unique identifier (if any) that the funduses to refer to the employee’s account

> the fund’s ABN (if it has one)

> what method their employer can use to makesuperannuation contributions to the fund and any necessarydetails to enable the payment to be made

> the superannuation product identification number (if any)

> the unique identifier or number (if any) the employer usesto refer to the employee (such as a payroll number), and

> a written statement, provided by or on behalf of the trusteeof the fund, that the fund is a resident regulated fund andcan accept your contributions (commonly referred to as aLetter of Compliance)

> if the fund is a self managed superannuation fund, evidencefrom the ATO that the fund is a regulated superannuationfund. This information must include either the notice ofregistration called Advice about Regulation of yourSuperannuation Fund (for a new fund) or the letter ofcompliance called Self Managed Superannuation FundCompliance Notice (if the fund has been in existence for two years or more).

If an employee makes a new fund choice, an employer has twomonths to prepare to make contributions to that fund. Afterthis, any SG contributions they make for that employee mustbe to their chosen fund, otherwise the ‘Choice Shortfall’penalty will apply.

It is important to note that the introduction of COF legislationdoes not change the timing of when SG contributions have to be paid (ie each quarter, by the 28 October, January, Apriland July).

What is a ‘standard choice form’ and how can an employeraccess one?The standard choice form is an ATO approved form, designed to be provided by employers to their employees who areeligible for COF.

Employers should receive copies of the standard choice formwith a comprehensive COF guide in a mail out from the ATO in April. A copy of the form can also be downloaded fromwww.superchoice.gov.au or by phoning the ATO SuperchoiceInfoline on 13 28 64.

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> within 28 days of becoming aware that an employee’schosen fund is no longer an eligible choice fund; and finally,

> within 28 days of an employer changing the default eligiblechoice fund to those employees who are impacted.

In which circumstances will a standard choice form NOT needto be provided by an employer to their employee?The Government has legislated that after 1 July 2005 astandard choice form does not need to be provided byan employer to an employee who:

> is ineligible for COF

> after 1 July 2005, has requested a standard choice form in writing, but has already received a standard choice formwithin the previous 12 months. However, in this instance,the employer can provide a form at their discretion.

The Government has also indicated that a standard choiceform may not need to be provided by an employer to anemployee where:

> the employee has already been required to choose asuperannuation fund as a condition of their employment. In this case the employer will not have a “default fund” in place, or

> the employee has already chosen a fund before 1 July 2005.

What level of responsibility will an employer have for anemployee fund choice?An employer is not liable to compensate any person for lossor damage arising from any action they take in complying withCOF legislation.

Employers should be aware, however, they can only providefactual information to employees unless they are licensed togive financial advice. Factual information includes detailsabout the obligations an employer has under COF, and whatan employee can do to nominate a super fund as their chosen fund.

What penalties will exist for employers who do not complywith COF legislation?As mentioned above, COF legislation does not change whenan employer must pay their SG contributions for an employee.

COF legislation however, does require that when an employeeprovides an employer with all the required information fortheir chosen fund and the employer has had two monthsto prepare to make contributions to that fund, any SGcontributions made for that employee after this period mustbe made to their chosen fund. If this does not occur the choice shortfall penalty will apply.

The choice shortfall penalty may also apply where an employerdoes not give an employee a standard choice form in therequired timeframe.

If the employer’s accountant is listed with the ATO as the pointof contact, this information will be sent to them, not theemployer directly.

The purpose of the standard choice form is to provide:

> the method in which an employer informs an employee thatthey have COF

> a section for the employer to detail which superannuationfund they will contribute to (ie the employer default fund).In addition, if the employee does not choose a fund and if the employer makes additional contributions in excess ofthe SG, whether they will continue to make these additionalcontributions to the chosen fund of the employee

> options for employees to do nothing or to choose a fund

> steps to assist the employee in making a choice

> tips for comparing funds

> a section for the employee to detail their chosen fund or to elect to remain in their previous employer default fund.

Employers are able to provide a standard choice form onpaper or electronically. This means that an employer willhave the choice to make photocopies of the form to give toemployees or to use email if they communicate with theiremployees that way.

Although it will be simpler for an employer to issue thestandard choice form to their employees, they can if desired,distribute an alternative document, providing it contains allthe information provided on the standard choice form.

At what time will a standard choice form need to be providedby an employer to their employee?Before 29 July 2005, employers will need to provide a standardchoice form to each eligible employee (an employee that hasCOF) employed as at 1 July 2005. The standard choice formcan be given to an employee prior to 1 July 2005 at anemployer’s discretion.

It is important to note that this mass distribution of standardchoice forms should only be required once (unless theemployer decides to change their default fund). Employerswill then only need to distribute standard choice forms on a case by case basis (as outlined below).

After 1 July 2005 employers will also need to provideemployees with a standard choice form in the followingcircumstances:

> to all new employees (employed on or after 1 July 2005)within 28 days of their commencement

> within 28 days of an employee requesting one in writing,unless they have already been given a standard choice formin the last twelve months

From 1 July 2008, these employers will be required to beginpaying to a fund which meets the insurance requirements.ANZ Super Advantage offers insurance which meets the COF requirements. If you do not currently have insuranceunder your existing plan, please contact your ANZSuperannuation Relationship Manager or ANZ FinancialPlanner who can assist you.

> where an employer is contributing to a fund under a federal award

> where an employer is contributing to a Retirement SavingsAccount (RSA) or a capital guaranteed fund

> where an employer is contributing to a fund that providesinsurance cover (equal to or greater than the minimumsdetailed above) for the relevant employee outside ofthe employer default superannuation fund, provided the employer does not receive a potential benefit(eg key-man insurance)

> where an employer is contributing to a fund that does notoffer insurance to a particular employee because of theemployee’s health, occupation (e.g. a high risk occupation),hours worked (e.g. casual employment) or othercircumstances determined by the insurer

> where an employer is contributing to a fund on 11 Marchand the rules of the fund determined that at least $50,000would be payable on death and the employer continuesto contribute to that fund, or a successor fund.

Will COF affect those employers who contribute to the Superannuation Holding Accounts Special Account(SHASA formerly known as SHAR or SHAA)?On 14 March, the Government also indicated that the SHASAwill no longer be needed when COF regulations come intoeffect due to the ability of RSAs to offer similar low costbenefits. Given this, the Government has stated that theywill change the law to allow a twelve month transitionalperiod until 30 June 2006 for employer contributions into the SHASA to comply with COF requirements where theemployee does not make a choice. After this time the SHASAwill be closed to new employer deposits. Prior to directingcontributions to SHASA between 1 July 2005 and 30 June2006, an employer should confirm that the legislation hasbeen changed to allow this transition period. Employers cancheck this at www.superchoice.gov.au or by phoning 13 28 64.

Are there any record keeping requirements under COF?Employers will need to show that they have met their COFobligations. This is in addition to the records employers arealready required to keep for SG contributions.

Records that will need to be kept by an employer under COFinclude:

> details of which employees do not have to be offered COF

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The choice shortfall penalty is part of the SG charge and isapproximately 25% of the SG contributions that should havebeen made to an employee’s chosen fund – limited to $500per quarter or a longer period as determined by theCommissioner of Taxation. An interest component andadministration charge will also be payable. The choiceshortfall, interest component and administration charge ispayable to the ATO and is not tax deductible to the employer.The choice shortfall and interest component is then remittedto the employee’s superannuation fund by the ATO.

For the first year of COF (1 July 2005 – 1 July 2006), the ATOhas indicated that where an employer demonstrates they havemade a genuine effort to comply with the choice requirements,they will generally have any choice shortfall penalty reduced to nil. These decisions will be made on a case-by-case basis.

What insurance implications will COF legislation have on anemployer’s default fund?Prior to 14 March, we knew that the default eligible choicefund into which many employers would contribute on behalfof their employees (who do not make a new fund choice after1 July 2005) would be required to offer some form of lifeinsurance in respect to death.

On 14 March this insurance requirement was clarified in theCOF legislation. The minimum level of life insurance (deathonly) that an employer will be required to offer through theirdefault fund must be either:

> a minimum level of cover based upon a premium of at least$0.50 per week or an equivalent (e.g. $1.00 per fortnight)for those under 56 years of age, or

> prescribed minimum amounts for certain age groups (seetable below).

Age of employee Minimum level of member life insurance

20 to 34 $50,00035 to 39 $35,00040 to 44 $20,00045 to 49 $14,00050 to 55 $7,000

What are the exceptions to the minimum insurancerequirements?There are a number of circumstances where an employer’sdefault fund is not required to offer minimum levels ofinsurance. These circumstances include:

> where an employer is contributing to a fund before 1 July2005 and that fund does not meet the above insurancerequirements, the employer may continue to makecontributions to that fund (or a successor fund) for itsemployees (both new and existing) until 30 June 2008.

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> records to show that a standard choice form has beenprovided to all eligible employees

> records confirming that their employer fund meets theinsurance requirements

> written information the employee provides when theynominate their chosen fund, and;

> receipts or other documents issued by the fund showingthat the employer has made SG contributions for thatemployee to the chosen fund.

COF records must be kept in English, for five years, and mustbe readily accessible.

What does COF mean for Portability legislation?Where COF gives employees the option to make a new fundchoice, Portability legislation may allow them to consolidatetheir superannuation funds into a single account. However,generally for portability to apply, an employee’s fund mustnot have received an employer contribution for six months.After six months the superannuation benefits in this ‘inactive’fund may become portable, allowing them to be rolled over.Employees should check with their own superannuationprovider to determine if they allow the rollover of benefitsbefore Portability legislation applies (i.e. before the sixmonth period is up).

What will the Government do to educate consumers aboutthe introduction of COF legislation?On 14 March the Government confirmed its commitment toconduct a comprehensive community education campaign.The campaign commenced mid April 2005 and will cost$19.7 million over a two year period. The campaign will focuson helping employers and employees to understand COF and how to meet their obligations. The ATO is providing employerswith a comprehensive information booklet and copies of thestandard choice form to help them meet their choice obligations.

To obtain further information and assistance on COF, employerscan call 13 28 64 or visit www.superchoice.gov.au as outlinedin the ‘more information’ section of the standard choice form.

How can you find out more?

For further information aboutCOF legislation contact yourANZ Superannuation Relationship Manager or ANZ Financial Planner.

Consistent and reliable servicingYou can access prompt and efficient ongoing servicing from:

> *SuperChoice, ANZ’s online superannuation servicingsystem, which is being enhanced to include a super clearing service that will be free, easy and ready for July; and through

> your dedicated administration team.

Your employees can access:

> online support, to check account balances and transactionhistories and switch between investment funds at any time;as well as

> dedicated telephone member servicing.

Integrated member benefitsYou can offer your employees access to a range of extrabenefits including:

> a comprehensive member education program to assist themin making the most of their superannuation; as well as

> ongoing investment updates and communications.

Stability and securityYour employer plan is supported by:

> ING’s investment management, trustee and administrationexpertise

> ANZ’s comprehensive corporate superannuation advice and financial planning services; together with

> A communications program that helps make COF easy.






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What is ANZ doing to help youand your employees throughthis period of change?ANZ Super Advantage is choice ready

With the arrival of COF legislation we believe that manyemployers and their employees will take an even greaterinterest in understanding how their existing superarrangement meets their needs.

ANZ Super Advantage is choice ready, to meet your needs incomplying with the new legislation and your employees’ needto ensure they are obtaining value and choice through theircurrent super arrangement.

ANZ Super Advantage meets these needs by offering a rangeof key benefits including:

Investment choice You can provide your employees with access to a wide rangeof investment choice:

> across the risk profile spectrum; and

> through funds managed by ING, OptiMix Manage theManagers portfolios, and other leading fund managers.

Flexible and convenient insurance optionsYou can offer your employees a choice of convenient insuranceoptions that include:

> Death Only cover

> Death and TPD; and

> Group Salary Continuance.

If you are an employer who will need to offer the minimumlevel of insurance coverage in respect to death to complywith COF legislation, and your current arrangement with us does not presently meet this requirement, you will also have the flexibility to add this to your plan!

To find out more about your insurance requirements under COF, see the ‘COF facts – your questions answered’ section of this guide, speak to your ANZ SuperannuationRelationship Manager or your ANZ Financial Planner.

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ANZ’s SuperChoice clearing service, will be FREE*, easy and ready for July!SuperChoice, ANZ’s online superannuation servicing system is being enhanced in readiness for the commencement ofCOF. This system will help reduce the potential administrativeburden you could face as an employer if you are required tosubmit contributions to multiple funds through multipleproviders after 1 July.

How will the SuperChoice clearing service work?

Employer

External funds

External fundsANZ Super Advantage

Contributions to other complying superannuation

funds your employees select

External funds

External funds

SuperChoice

Contributions to employer’sANZ default superannuation fund

More details on how the SuperChoice clearing service will operate and high level steps employers will need to complete to use the service are available fromwww.anz.com/wealth/super, your ANZ SuperannuationRelationship Manager or ANZ Financial Planner.

This information and our SuperChoice training manuals willbe updated in the lead up to 1 July as the enhancementsprogress. In addition, an online tutorial will also be availableover the coming months to help guide you through theclearing service as well as other areas of the SuperChoicesystem, quickly and easily.

To realise the benefits of ANZ’s superannuation clearingservice, and to be prepared for COF, ensure you are registeredfor SuperChoice now!You can register for SuperChoice by calling 13 38 63 andrequesting a SuperChoice Registration Form. Alternatively,complete the form included in this information pack. An ANZrepresentative will contact you to provide an ID and passwordfollowing your SuperChoice registration. These will be providedwithin three days of the SuperChoice team receiving yourregistration request.

Don’t forget, we are committed to maintaining efficient workingrelationships with existing outsourced payroll solutionsIf you are an employer who currently uses an outsourced payrollsolution to administer payment of employee SG contributions,you will continue to be supported by ANZ under the COFregime. We currently accept employer contribution reportsfrom payroll providers and are committed to developing theexisting strong relationships with these groups to ensurecontributions are received and processed quickly and efficiently.

We will also continue to accept paper based remittances!While we still believe electronic contribution remittance throughSuperChoice will be the preferred option for most employers,we understand that some employers prefer to remit contributionsoffline. So, if you currently make SG contributions andremittances to us through paper and cheque, you will still beable to do so after COF commences. However, contributionsand remittances to any fund other than ANZ Super Advantagewill need to be processed through SuperChoice – so weencourage you to make the switch and register now!






Through the SuperChoice clearing service you will have the flexibility not only to make contributions to your ANZSuper Advantage plan, but to any other complying super fund your employees select.

The service will accept payment from you and remit to other superannuation funds for the benefit of youremployees – it’s that simple!

*The SuperChoice clearing service will be free of charge to employers who nominate ANZ Super Advantage as theirdefault super fund, and where at least 50% of your employeeshave their superannuation contributions paid to that fund.

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We are committed to keeping you and your employees informedANZ’s COF communication program continuesfull steam aheadAs part of our commitment to keeping you and your employeesinformed, our COF updates will continue to be mailed to you,and where appropriate, to your employees.

These communications are designed to help explain COF, itspotential impacts, and what we are doing to prepare for itscommencement. Member updates are designed to assist inexplaining COF to your employees and will contain informationabout current employer superannuation arrangements.

Employer and Member updates can be accessed viawww.anz.com/wealth/super

This Employer Guide is part of our client communicationsprogram, which includes a range of other initiatives. Theactivities and dates associated with this program are listedbelow for your easy reference.

Employer communications> The Federal Government (ATO) mailing to all employers

about COF will occur in April. This mailing includes acomprehensive information booklet for employers, a copyof the employee guide ‘Super Choices’ as well as copies ofthe standard choice form. If the employer’s accountant islisted by the ATO as the point of contact, this mailing will besent to them and not the employer. This mailing coincideswith the launch of the ATO website www.superchoice.gov.auand the Superchoice Infoline, 13 28 64.

> This ANZ Employer COF Guide has been designed to followthe information you will have received from the FederalGovernment and is part of a comprehensive informationpack containing an Employer COF timeline/checklist, a copy of a standard choice form that is pre-populated with ANZ Super Advantage fund details and a SuperChoiceregistration form to ensure you are prepared for COF. These materials will also be available to you viawww.anz.com/wealth/super

> Articles to keep you abreast of COF developments will alsobe available to you in upcoming quarterly editions of theANZ Super Update for employers. This publication can befound on www.anz.com/wealth/super or will be emaileddirectly to you from your ANZ Superannuation RelationshipManager or ANZ Financial Planner. The next edition of theANZ Super Update will be available mid May.

> An Introduction to ANZ Super Advantage brochure to assistyou in explaining the benefits of the fund to new staff willbe available in May. Copies of this brochure can berequested from your ANZ Superannuation RelationshipManager or ANZ Financial Planner.

> Brochures explaining the benefits of the ANZ SuperAdvantage Personal Division will also be available in May. Copies of this brochure can be requested from your ANZ Superannuation Relationship Manager or ANZFinancial Planner.

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Member communications> As you may be aware, ANZ Super Advantage provides your

employees with access to a comprehensive membereducation program to assist them make the most of theirsuperannuation.Our member education covers key investment topics and is relevant to all members regardless of age, risk tolerance,existing wealth or current level of investment knowledge.The material includes superannuation fundamentals likehousehold budgeting and personal cash flow, through toinvestment concepts like gearing and compounding.Member education can be accessed in two ways:

> OnlineThe online education site is simple to use and easy tonavigate with information on savings tips and strategiesand key themes of financial investment. There are alsoother tools like calculators that can assist members tomodel scenarios based on their own or hypotheticalsituations. During May, our online education site will beenhanced to provide information on COF, what it meansfor an employee and how they can activate a choice ifthey are eligible.

To review this program log on towww.anz.com.au/australia/anzatwork/learning/home.asp

> Workplace seminarsWorkplace seminars allow members to access additionalfinancial information. Seminars, including those based on COF legislation, can be organised through your ANZSuperannuation Relationship Manager or ANZ FinancialPlanner and comprise presentations and support toolsto help employees understand their superannuation.

> The Federal Government (ATO) has indicated thatinformation on COF will be mailed to members in mid May, in addition to undertaking consumer COF advertising.Details of the proposed mailing are yet to be clarified, however there are indications that this information willbe in alignment with that found on the employee section of www.superchoice.gov.au. In addition to the supportfound on this website, the ATO Superchoice Infoline, 13 28 64, will also be available to members from April onwards.

> The next edition of the ANZ Super Advantage quarterlynewsletter, sent directly to all your employees, will be a COF special edition. This edition of the ANZ SuperAdvantage will be mailed to members after the FederalGovernment launches its member initiatives mentionedabove, in mid May. Copies of the ANZ Super Advantagenewsletter will be available to you prior to the mailing from www.anz.com/wealth/super or directly from your ANZ Superannuation Relationship Manager or ANZFinancial Planner.

> The Introduction to ANZ Super Advantage and personaldivision brochures outlined in the Employer communicationssection above will also be directly accessible to youremployees from www.anz.com/wealth/super in May.

To find out more about ANZ’scomprehensive COF clientcommunication program, pleasecontact your ANZ SuperannuationRelationship Manager orANZ Financial Planner.

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Further informationIf you have any questions, please feel free to contact us at:

GPO Box 4028Sydney NSW 2001E-mail [email protected] www.anz.com/wealth/super

ANZ Managed Investments LimitedABN 61 004 392 269AFSL 238344347 Kent StSydney NSW 2001

This material was prepared as at 5 May 2005 and reflectsthe legislation which was operational at this date but maybe subject to change. It may not be reproduced withoutprior written approval. This material is not intended toconstitute personal advice and must not be relied assuch. This material has been prepared without taking into account a potential investor's objectives, financialsituation or needs. Before making a decision based onthis material, a potential investor should consider theappropriateness of the advice, having regard to theirobjectives, financial situation and needs. Before acquiringa product or deciding whether to continue to hold aproduct, investors should consider the relevant ProductDisclosure Statement which is available at www.anz.com

Documents

Choice of Superannuation Fund Employer Guide · 5 ANZ Choice of Superannuation Fund Employer Guide – ASA > within 28 days of becoming aware that an employee’s chosen fund is no