SEpTEMbER 2008

‘Get fit’?Is every New Year resolution to

Member Magazine

IOOF portfolio Service Superannuation Super News

2007/08 Trustee’s Annual Report delivered online

*See bAck cOVeR

Go online to manage your super

Expert market commentary 2007/08

IPSADV0908

Government co-contributions? Find out more

Inside Your ChoiceIt’s never too early or too late to get SuperFit. Whether you are planning to retire tomorrow or in 40 years, you can be active in organising and managing your superannuation (super) investment to make a difference to your financial situation for the future.

01 editorial – Getting SuperFit

02 Changes to the Trust Deed

03 IOOF portfolio Service Super – Super news

04 Expert market commentary 2007/08

06 Government Co-contributions? Find out more

08 Changes to the investment options 2007/08

10 Is every New Year resolution to ‘Get fit’?

12 Managing your super online

Sign up for e-comms & more – Fold out

Receiving your 2007/08 Trustee’s Annual Report – back cover

Your choice member magazine 1

SuperFitGetting

SuperFit is about managing your super to get the results you want. You may want to run a marathon, while another member simply wants to be able to keep up with the kids. IOOF’s super products have been developed to meet many needs and include flexible management options and convenient online access to help you keep track of your investment to reach your financial fitness goals.

Superannuation is a long term investment however the recent experience of market volatility has had a widespread impact on superannuation returns in Australia, and has created much short-term discomfort. To ensure we offer investors robust market solutions in this environment, IOOF has added term deposits to the investment options menu. Find out more about your super’s good news on page 3.

Our expert commentary on page 4 reviews the causes of the 2007/08 market volatility and considers what the year ahead looks like.

The Government Co-contributions scheme was introduced by the Government to encourage and boost the super savings of Australians. Find out about eligibility, the maximum Co-contribution for your income and more (see page 6).

Don’t wait for the new year, stop making excuses and see the benefits you could receive from getting SuperFit today (page 10). Find out about managing your super online PLUS the bigger social benefit of reducing paper production… it’s all about your future really (see page 12).

Finally, let us help you. At the back of this publication you will find a form on which you can let us know how we may assist and inform you on super. This is also where you can elect, if you wish, to receive the 2007/08 Trustee Annual Report in hard copy.

IOOF is committed to helping you reach your SuperFit goals. For more information you can go online (www.ioof.com.au and www.ioof.com.au/yourchoice) or call Client Services on 1800 062 963 (for Personal Super and Pension) or 1800 693 894 (for Corporate and Employer Super).

Editorial

Your choice member magazine2

Changes to the Trust DeedSome changes were made to the IOOF Portfolio Service Superannuation Fund Trust Deed during the 2007/08 financial year to facilitate the introduction of a new online personal superannuation product called individuum. This was done by creating a new category of membership in the Fund and by amending the Trust Deed to enable the Trustee to implement different requirements for individuum members in relation to their super contributions, fees, the provision of information and binding death nominations. These changes do not affect your account balance in the IOOF Portfolio Service Superannuation Fund or your insurance cover (if any). However, a copy of the current Trust Deed is available to members upon request by calling a Client Services Officer on 1800 062 963 or may be inspected by arrangement during business hours at the office of the Trustee.

The widespread impact of market volatility on super returns has made many members wary of investing more into super and concerned about their existing investment. In this climate it is important to remember that super is generally a long term investment. We recommend that you gain confidence in your super investment by finding out more about what your super provider can offer you and making informed decisions regarding your investment choices.

What does IOOF do for you? IOOF is constantly reviewing its product and service offering with the aim of meeting and exceeding industry benchmarks. We have been awarded for our product innovation and received 5 star ratings in 2007/08 for our flagship products*:

Heron – Outstanding (5 star rating) for:

• IOOF Portfolio Service Personal Superannuation

• IOOF Portfolio Service Employer Superannuation

• Pursuit Select Personal Superannuation

• Pursuit Core Personal Superannuation

Chant West:

3 Apples out of 5 for:

• Pursuit Select Personal Superannuation

• IOOF Portfolio Service Personal Superannuation

• IOOF Portfolio Service Corporate Super (small corp. & medium corp.)

• Pursuit Core Personal Superannuation

• IOOF Portfolio Service Allocated Pension

• Pursuit Core Allocated Pension

4 Apples out of 5 for:

• Pursuit Select Allocated Pension

SuperRatings:

Silver SuperRating for all our Products.

IOOF looks after all the day-to-day administrative duties and regulatory responsibilities in respect of your investment within IOOF Portfolio Service Superannuation Fund so that you can spend more time on the decisions that matter – selecting the most appropriate strategy to meet your needs.

Through your super you also have the ability to protect yourself and your family from financial difficulty by selecting suitable death, total & permanent disablement and/or salary continuance insurance cover.

New investment options to weather the stormYour IOOF Portfolio Service investment menu provides you with over 100 investment options which means you can develop an investment strategy to suit your investment profile: conservative; balanced; growth or aggressive.

IOOF has responded to the volatile market conditions by adding term deposits as a more defensive asset to provide you with a safe haven from the storm in the markets. You can access this term deposit facility through your account with as little as $5,000.

Term deposits are structured for easy member access and offer competitive interest rates for 6 and 12 month terms, they offer added flexibility so that if needed the investment can be redeemed within the super account prior to the maturity date (this is subject to an interest reduction).

You can invest up to 80 per cent of your super in a term deposit through your IOOF account.

• $5,000 minimum investment, up to a maximum of 80 per cent of your account balance

• 6 month and 12 month terms

• Competitive rates, check the latest rate at www.ioof.com.au

• Fixed rate gives security during volatile times

• Certainty and peace of mind

A term deposit may be suitable if you want an investment where the time period and return is fixed and you are seeking an opportunity to diversify your investments with a view to lowering risk.

Opening a term depositTo open a term deposit through your IOOF account you need to complete the IOOF Portfolio Service Term Deposit Investment Authority form available from the ‘Documents and Forms’ page at www.ioof.com.au or through Portfolio Online.

If you have any questions please speak with your financial adviser or contact one of our Client Services Officers on 1800 062 963 (for personal super and pension) or 1800 653 894 (for employer and corporate superannuation members) or email clientservices@ioof.com.au

For further information about your other investment options, please refer to the Investment Strategies Booklet (Part 2 of your Product Disclosure Statement). You can also keep up-to-date with the performance of your investments at www.ioof.com.au

please note: the term deposit investment option is also available through IOOF’s non-super products. For more information go to www.ioof.com.au

* Past performance is not a reliable indicator of future performance

Your choice member magazine 3

Super News

IOOF Portfolio Service Super

Your choice member magazine4

2007/08 review

Share markets, which had risen steadily since the end of the Iraq War in early 2003 peaked towards the end of 2007 and fell thereafter. Financial sector stocks, in particular, fell sharply as US sub prime related losses mounted.

After a period of very strong returns from investment markets, investors in global and domestic shares and listed property sectors experienced falls in the value of their investments. Returns on defensive assets, like global and domestic fixed interest and cash were positive. Investors in multi sector funds, like balanced funds, benefited from exposure to defensive assets which partly offset the fall in value of growth assets.

Years like this are not unique and are a reminder that investment markets can go down as well as up. As a matter of investment housekeeping, investors should always review their portfolio and stick to well thought-out strategies with appropriate time frames. History reminds us that investment markets do eventually recover and all that is achieved by panic selling of assets is to lock in losses and deny investors the opportunity to be positioned for the recovery in asset prices.

Frank Uhlenbruch, Investment Strategist, Perennial Investment Partners

Sector Commentary Before reviewing the following information, it is important to consider the investment or asset class in which your fund is currently invested. You may actually be invested in a number of these asset classes to diversify your investment portfolio. If you are not sure which asset classes your investment has exposure to, you should check the Product Disclosure Statement (PDS) relating to the underlying investment option or speak with your financial adviser. Product Disclosure Statements are available from our website www.ioof.com.au or by calling Client Services on 1800 062 963 (for Personal Super and Pension) or 1800 693 894 (for Corporate and Employer Super).

International SharesHighlights from 2007/08The pace of global growth slowed over the year, largely as a result of a cooling in the US economy. Other industrialised countries held up better but began showing signs of slowing late in the financial year. Growth rates in emerging economies like China, also appeared to have moderated over the first of 2008 but still remain at robust levels. Against this backdrop, returns from the international shares sector were down by 21.3%* in Australian dollar terms over 2007/08.

Looking aheadForecasts are for the global economy to grow over the next year, but at a rate below that experienced over recent years. Higher food and energy prices and the risks that these may translate into higher inflation may make it hard for central banks to boost sluggish economies by cutting interest rates. Indeed, they may be forced to increase interest rates to fight inflation. The sector faces headwinds, but the US economy is expected to gradually recover over the outlook period and this would be a positive for sector returns.

Australian sharesHighlights from 2007/08After several years of very high returns, fuelled by strong gains in the Resources sector, Australian share market returns fell 13.7%* over 2007/08. Behind the result was a tale of two sectors. The Resources sector, boosted by further gains in commodity prices, rose 27.7%* over the financial year. In contrast, the Industrials sector, which includes the hard hit financials, fell 26.7%*.

Looking aheadA period of more moderate growth in the Australian and global economy lies ahead and this is beginning to be factored into the share market. A domestic recession seems highly unlikely given the amount of resource and public sector investment projects in the pipeline. If the outlook did deteriorate significantly, the Reserve Bank of Australia (RBA) has plenty of scope to cut cash rates and such a move would be supportive of the share market.

Global property securitiesHighlights from 2007/08Falling US house prices and the negative flow on effects from the US sub prime crisis to all regions were the main drivers behind a 22.3%* fall in global property securities sector returns. UK and continental European property stocks were the hardest hit over the year, with Hong Kong recording the smallest losses over the year.

Investment markets soured over the year as problems in the US sub prime lending sector morphed into a broader global credit crunch. Developments were not helped by rising food and energy prices which sapped consumer and business confidence.

Your choice member magazine 5

Looking aheadFollowing recent falls, the sector is now priced at levels which offer attractive returns for long term investors. Whilst global GDP growth is slowing, and the liquidity crisis in the credit markets is lifting the return thresholds, there are opportunities to access good quality property, in markets which are fundamentally sound, and where assets are professionally managed by high quality teams.

Australian listed property securitiesHighlights from 2007/08A combination of contagion from the sub prime crisis in the US and rising funding costs saw returns from the sector fall 36.4%. This fall follows gains of 25.9%* for the previous financial year. Historically, Australian property trusts were quite conservatively geared but over recent years they have become more highly geared making them more vulnerable to changes in funding conditions.

Looking aheadThe recent sell-off comes after several years of strong gains and the sector is now looking “cheap to fair valued”. The characteristics of the sector have changed over recent years and investors should be aware that the composition of earnings in most of these vehicles makes their earnings highly susceptible to foreign exchange rates, interest rates, asset values and other factors outside of management control.

International fixed interestHighlights from 2007/08Offshore interest rates trended lower as the US Federal Reserve aggressively cut the US cash rate by 3.25% to 2%. Although the spread between government and non government debt securities widened over the year as credit conditions worsened, the sector still posted very good returns. After returning 5.7%* over 2006–07, the sector returned 7.9% over 2007/08.

Looking aheadReturns are likely to be lower over the year ahead as global central bankers deal with the threat to the inflation outlook from higher food and energy prices.

Australian fixed interestHighlights from 2007/08The Australian fixed-interest sector returned 4.4%* after generating a return of 4.0% the previous year. Yields continued to rise as the economy remained strong enough for the RBA to tighten monetary conditions. Yields on non-government debt were also pushed higher by the tightening in global credit conditions experienced over the year. These factors led to minor capital loss in the sector, but higher running yields meant the sector still posted positive returns.

Looking aheadRunning yields are relatively high, particularly for high quality semi government and corporate debt securities. These have scope to fall as global credit markets heal and would boost sector returns. Likewise, if markets began to factor in the chance of an RBA easing should the economy slow as the RBA expect, then yields would rally lower and the resultant capital gain would boost sector returns. After returning less than the cash rate over 2007/08, the sector is likely to offer returns higher than the cash rate over the year ahead.

Cash Highlights from 2007/08Cash deposits returned 7.34%* last financial year. Returns were higher than for the previous year due to the Reserve Bank lifting the cash rate from 6.25% to 7.25% over the financial year over worries that high levels of capacity utilisation would jeopardise its ability to keep inflation under control.

Looking aheadThe return on cash is driven by the actions of the Reserve Bank. Sector returns are likely to be similar or lower than last year depending on whether the inflation outlook provides the RBA with room to ease monetary conditions.

*benchmarks

Australian equities – S&P/ASX 300 Accumulation Index; S&P/ASX 300 Resources Accumulation Index; S&P/ASX 300 Industrials Accumulation Index

International equities – MSCI World (ex Australia) Accumulation Index – unhedged

Global property securities – FTSE EPRA/NAREIT Global Real Estate Total Return Index (Hedged to $A)

Australian listed property securities – S&P/ASX 200 Property Accumulation Index

Australian fixed interest – UBSA Composite Bond Index (All Maturities)

International fixed interest – Lehman Brothers Global Aggregate Index (Hedged to $A)

Cash – UBSA Bank Bill Index

Expert Market Commentary 2007/08

2007/08 review

Your choice member magazine6

Government co-contributions

find out more

Your choice member magazine 7

Government Co-contributions? Find out moreThe Australian Government introduced the Government Co-Contributions scheme (Co-contributions) to encourage and boost the superannuation (super) savings of Australians. Eligible individuals can have their personal contributions matched by up to 150 per cent.

You can earn up to $60,342 p.a. and qualify to receive a Government Co-contribution up to a maximum of $1,500. As an example, if you earn $30,342 and you make an after-tax personal contribution of $1,000, the Government will put in $1,500.

EligibilityYou will be eligible to receive a Co-contribution for this financial year if:

• your total income is less than $60,342;

• you make personal after-tax super contributions to your fund by 30 June;

• you earn at least 10 per cent of your total income from paid employment, carrying on a business or both;

• you lodge an income tax return for the financial year;

• you are less than 71 years of age at the end of the financial year; and

• you do not hold an eligible temporary resident visa at any time during the year.

How can I receive the Co-contribution payment? If you are eligible, the personal after-tax contribution you make will be automatically processed to receive a Co-contribution payment calculated on your income and the amount of your contribution.

You simply make a personal contribution into your super account by BPAY or cheque before the end of the financial year. Postal and BPAY delays can occur at this time, so take care not to leave making your contribution until the last minute.

Once the Australian Taxation Office (ATO) receives your tax return and IOOF provide the ATO with your contribution details for the financial year (we lodge this by the following October), the ATO will process and pay the Co-contribution direct to your super account.

The ATO will send you a letter with details about your Co-contribution payment and your annual IOOF Member Statement will confirm the payment into your nominated super account.

How much do I contribute to get the maximum Co-contribution for my income?

How do I make personal contributions to my super account?by cheque – Payable to: IIML ACF IPS Application Trust A/c – [your full name]

bPAY – A convenient way to make one-off or regular contributions into your account. (No minimum transaction amount) Biller Code – Personal Contributions: 172320

Direct Debit – You can set up a regular contribution plan – download a Direct Debit Form from www.ioof.com.au or contact Client Services. Minimum is $1,200 per annum.

Payroll DeductionBy agreement with your employer. Personal and spouse contributions deducted from your after-tax pay must be forwarded by your employer to the fund within 28 days of the end of the month the deduction was made.

By cheque, BPAY or Direct Debit (see above). Contributions must be clearly identified as personal or spouse to avoid confusion with employer contributions such as salary sacrifice contributions. For employer superannuation plans with IOOF, cheques refer to the employer’s name and are accompanied by a schedule setting out the contribution details.

Income

personal (after-tax)

contribution required for

maximum Co- contribution

Government Co-

contribution

$30,342 $1,000 $1,500

$32,342 $933 $1,400

$34,342 $867 $1,300

$36,342 $800 $1,200

$38,342 $733 $1,100

$40,342 $667 $1,000

$42,342 $600 $900

$44,342 $533 $800

$46,342 $467 $700

$48,342 $400 $600

$50,342 $333 $500

$52,342 $267 $400

$54,342 $200 $300

$56,342 $133 $200

$58,342 $67 $100

$60,342 $0 $0

If you have any questions please speak with your financial adviser or contact one of our Client Services Officers on 1800 062 963 (for personal super and pension) or 1800 653 894 (for employer and corporate superannuation members) or email clientservices@ioof.com.au

Changes to the investment options2007/08

Your choice member magazine8

APIR Code Fund Name Fund Status

AMG0125AU IOOF MIM Australian Equities Fund TerminatedAMG0123AU IOOF MIM Australian Liquids Fund TerminatedAMG0121AU IOOF MIM Balanced Growth Fund TerminatedAMG0131AU IOOF MIM Boutique Australian Equities Fund TerminatedIOF0070AU IOOF MIM Capital Enhanced Fund TerminatedIOF0071AU IOOF MIM Conservative Growth Fund TerminatedAMG0124AU IOOF MIM Diversified Fixed Interest Fund TerminatedAMG0122AU IOOF MIM Hi Growth Fund TerminatedAMG0126AU IOOF MIM International Equities Fund TerminatedMGL0114AU Aberdeen Australian Equities Fund Closed NewMGL0001AU Aberdeen Australian Small Companies Fund Closed NewMAQ0060AU Macquarie Master Cash ‘Plus’ Fund Closed New

APIR Code Fund Name

IOF0092AU IOOF MultiMix Australian Shares Trust

IOF0091AU IOOF MultiMix Australian Liquids Trust

IOF0093AU IOOF MultiMix Balanced Growth Trust

IOF0094AU IOOF MultiMix Capital Enhanced Trust

IOF0095AU IOOF MultiMix Conservative Growth Trust

IOF0096AU IOOF MultiMix Diversified Fixed Interest Trust

IOF0097AU IOOF MultiMix Hi Growth Trust

IOF0098AU IOOF MultiMix International Shares Trust

IOF0099AU IOOF MultiMix Total Growth Trust

IOF0090AU IOOF Multi Series Balanced Trust

IOF0141AU Perennial Cash Trust

IOF0080AU Perennial Global Shares High Alpha Trust

IOF0126AU Perennial Partners Trust

IOF0214AU Perennial Value Smaller Companies Trust

FSF0891AU Acadian Wholesale Geared Global Equity Fund

APIR Code Fund Name

Adelaide Bank Term Deposits

AMP1015AU AMP Capital Core Property Fund

AUS0030AU AUI Platypus Australian Equities Trust

AUS0005AU Australian Unity Wholesale High Yield Mortgage Trust

MAL0029AU BlackRock Global Allocation Fund (Aust)

FID0008AU Fidelity Australian Equities Fund

TGP0004AU GVI Global Industrial Share Fund

MAQ0448AU Macquarie Direct Property Fund

MAQ0277AU Macquarie Income Opportunities Fund

MAQ0441AU Premium China Fund

PTN0002AU Putnam Worldwide Income Fund

STL0002AU Sandhurst Select Mortgage Fund

SCH0006AU Schroder Asia Pacific Fund

SCH0030AU Schroder Global Active Value Fund

VAN0105AU Vanguard International Shares Index Fund (Hedged)

Changes to the Easy Choice & Investor Choice investment optionsThis section outlines the changes that have been made to the investment options available through the IOOF portfolio Service Superannuation Fund (the Fund). The changes are categorised into three sections: New Investment Options; Closed/Terminated Investment Options and Suspended Investment Options.

It is important to fully understand how the changes detailed may impact your portfolio. If you require further information, please refer to the Product Disclosure Statement (PDS) for the relevant underlying managed fund investment option and/or contact your financial adviser or Client Services on 1800 062 963 (for Personal Super and Pension) or 1800 693 894 (for Corporate and Employer Super).

Easy Choice / Investor Choice – New Investment Options

Easy Choice / Investor Choice – Closed / Terminated Investment Options

Your choice member magazine 9

APIR Code Fund Name Fund Status

MAL0008AU BlackRock Combined Property Income Fund (Class D Units) Suspended as at 26 August 2008HBC0013AU Challenger Wholesale Hybrid Property Fund Suspended as at 26 August 2008MAQ0448AU Macquarie Direct Property Fund Suspended as at 26 August 2008MFS0009AU Wholesale Premium Income Fund (MFS/Octaviar) Suspended as at 17 July 2008

ASX Code Stock Name Asset Status

AAN Alinta Limited DelistedCNP Centro Properties Group Closed NewCGJ Coles Group Limited DelistedIPG Investa Property Group DelistedPBL Publishing and Broadcasting Limited DelistedRIN Rinker Group Limited DelistedSYB Symbion Health Limited Delisted

ASX Code Fund Name

CMJ Consolidated Media Holdings LimitedCWN Crown LimitedMQG Macquarie Group Limited

Changes to the Direct Share Choice investment optionsThis section outlines the changes that have been made to the Direct Share investment options available through the Fund. The changes are categorised into two sections: New Investment Options and Closed / Terminated Investment Options.

It is important to fully understand how the changes detailed may impact your portfolio. If you require further information, please contact your financial adviser or Client Services on 1800 062 963 (for Personal Super and Pension) or 1800 693 894 (for Corporate and Employer Super).

Direct Share Choice – New Investment Options

Investment Options

Direct Share Choice – Closed / Terminated Investment Options

Easy Choice / Investor Choice – Suspended Investment Options

Definitions‘Terminated’ means IOOF determined the investment option is no longer viable to operate, or it is not in the best interests of remaining members for their investments to be retained in the investment option.

‘closed New’ means the fund no longer accepts deposits from new members wishing to invest in the fund for the first time.

‘closed’ means the fund no longer accepts deposits from existing or new members, however, existing members can continue to leave their money invested in the fund.

‘Suspended’ means these funds are temporarily suspended. Members are temporarily prevented from making additional investments/contributions, switching to another option or withdrawing their investment. For more information contact Client Services.

Your choice member magazine10

When the end of the year comes around many of us reflect on the months gone by, and how we could have done things better, and set New Year resolutions. but do we really stick to them, and why do we only think about making positive change when a new year begins?

Getting fit and setting new financial goals can be started any time – so go on get SuperFit.

Time is ticking awayWe can all relate to…‘it’s too cold’, ‘I’Il do it after work’, ‘I can’t afford the monthly membership’, ‘there’s no point! I’m not losing any weight’. We also know that putting off exercise is the one sure way to not reach your fitness goals. Compare this with the excuses to reach your financial goals:

“I can’t be bothered with all the paperwork”.

Actually, doing the paperwork potentially saves you money! If you have had various jobs, there is a high chance you have super accounts with more than one super fund. Consolidating all your existing super in your IOOF fund is easy and helps you keep control of your super savings. This means you will most likely stop paying multiple administration fees, reduce all your overall

paperwork and have more control over your investment. It’s easy to consolidate - to find out how download a ‘Request to transfer a superannuation benefit’ form at www.ioof.com.au

I don’t want to give up my salary for my super”.

Salary sacrifice means you pay your super before you pay tax on your income. This could be an effective strategy depending on your marginal tax rate or you could set up a combination of salary sacrifice and personal after-tax contributions to gain maximum benefits. We recommend you talk to a financial adviser and your employer to learn how it may work for you.

“I’ve left it too late to make a difference”.

It’s never too late and you don’t want to spend the rest of your life working do you? Start thinking seriously about the right investment strategies to retire comfortably, if you haven’t already! Strategies such as: transition to retirement, which can be adopted when you have reached preservation age (i.e. age 55 or more), may greatly assist the final years of retirement savings accumulation.

Transition to retirement provisions allow you to supplement your income by drawing a regular pension payment from your super fund. There are two principal ways you can benefit:

• converttopart-timeworkwithoutdecreasingyour income, and spend more time doing the things you want to do; or

• continuetoworkfull-timebutreduceyour tax by taking a pension and salary sacrificing more of your income into super (or your spouse’s super).

Should you continue working past 65, you also benefit from ongoing employer contributions to super which ultimately increase the value of your retirement income.

Don’t just think about it, do it These are just some of the super strategies you can consider. You are never too young or too old to start thinking about how you can maximise your super. A combination of smart decisions and positive motivation could be the beginning of a successful financial plan for a well deserved retirement. Super is a long-term tax effective investment, to make it work in your best interests, get off the couch, stop talking about how you need to do something about your super and get active about it.

Is every New Year resolution to

‘Get fit’‘Get fit’?

Your choice member magazine 11

Super rewardsWe understand that it might take a little incentive to kick off your SuperFit regime. So, when you consolidate other super accounts into your IOOF portfolio Service Super account you automatically enter the SuperFit promotion with a chance to win one of five $400 David Jones Gift Vouchers (terms and conditions apply).

Consolidation instructions

1. Complete a ‘Request to transfer a superannuation benefit’ form (available from the ‘Documents and Forms’ page of www.ioof.com.au). Provide the details of your other super fund and sign.

2. Provide certified proof of your identity.

3. Return the form and identity documents to: IOOF, Reply Paid 264C, Melbourne, VIC 8060.

IOOF will manage all the administration on your behalf. We’ll let you know when the transferred funds have been added to your IOOF Portfolio Service Super account.

More information is included on the ‘Request to transfer a superannuation benefit’ form. The promotion ends on 8 December 2008. Full terms and conditions of the SuperFit Promotion can be found at our website www.ioof.com.au/superfit

SuperFit

What’s green, easy and important for your future?

It’s simple to use. You can access your POL account 24 hours a day; 7 days a week.

Your choice member magazine12

Portfolio Online – Manage today and tomorrow online

The world wide web, or internet, came into play in the early 90’s. At that time we could only imagine what has now become a part of our reality.

Many Australians use the internet as a part of their everyday lives; paying bills, checking the weather and shopping – all online. Why? Because it is easy: you can save time, save paper (which is also good for the environment), be entertained and informed.

Just as online banking makes managing your everyday finances so much easier, when you register to use Portfolio Online, you can make it easier to keep track and manage your superannuation with IOOF today for tomorrow.

Your superannuation account information at your fingertips

Portfolio Online (POL) is a secure online management system that you can access through any internet connection*. By reviewing and keeping track of your super investment regularly, not only can you view your account transactions and performance information, you can also find out about more of the features and benefits of your super product. Online you will find the latest information on Government initiatives or financial strategies, which may provide opportunities to maximise your super account.

Find out more about all the features pOL offers below:

• Portfolio summary – view the value of each investment option and the total value of your portfolio;

• Account transactions and information - view all your transactions including: deposits/contributions; payments/withdrawals; insurance; pension details (if applicable) and investment earnings. These are updated every half hour throughout the day with the latest unit holdings and unit prices;

• Tools and Resources – Debt Consolidator, Investor Education, Loan Evaluator, Savings Calculator; and

• Download forms – to manage and make changes to your insurance and binding nominations; increase contributions or set up a regular contribution plan; and transfer (consolidate) old super funds into your super with IOOF.

It’s simple to use. You can access your POL account 24 hours a day; 7 days a week.

Registering for POL is simple1. Have your client number handy and go to

https://www.portfolioonline.com.au

2. Agree to the terms and conditions;

3. Complete your personal details;

4. Select and confirm your username; and

5. Answer a set of security questions.

Don’t stop there – get it all onlineMaking changes now is all about what we want in the future. Going online is simple and convenient. It is also one of the ways that you can reduce your environmental footprint!

Registering for POL gives you access to all your super information online and with your authorisation, we can arrange it so you receive all or specific super communications, such as your annual Member Statement and the Trustee’s Annual Report, online.

If you prefer to have a printed document on file, the documents are available in a printable format or you can contact Client Services on 1800 062 963 (for personal superannuation and pension members) or 1800 653 894 (for employer sponsored and corporate super members) who can mail the requested document to you free of charge!

To arrange electronic communications (e-comms) complete your details on the Sign up for e-comms form provided. You simply need to select the type of e-comms you prefer to view online and sign up.

*Portfolio Online is unlikely to work properly with older browsers such as Netscape 4 or Internet Explorer 5.x for PC or Mac. The preferred application is Microsoft Internet Explorer 6.

Provide me with more information about my superannuation

Please the box(es) below indicating what you would like us to send you more information about:

IOOF is committed to providing members with a superannuation product and service that is relevant to their needs.

Whether you want to get more information on your investment options; need a Super Choice – Fund Nomination form to arrange the receipt of your new employer’s superannuation guarantee payments into your account; or you want to rollover funds from another superannuation fund, IOOF can help. Please consider the options below and indicate how you would like us to assist and inform you about your super.

Let us know what you want

Super choice fund nomination – I would like to nominate IOOF as my fund of choice to receive my employer’s super contributions.

Rollover/ transfer of funds from other superannuation funds – Please send me a ‘Request to transfer a superannuation benefit’ form so I can arrange the rollover/transfer of my other superannuation funds into IOOF.

Transition to retirement options – I am over 55 and still working. Please send me information about the pension and product options available to me.

Set up a direct debit facility – Please send me a direct debit form so I can arrange to have regular contributions paid into my super account.

Set up a salary sacrifice arrangement – please send me the information I need to understand and arrange salary sacrifice.

Estate planning – I would like to change/review my death benefit nominations.

Lost superannuation – Please help me find my lost super.

Other (please write)

2007/08 Trustee’s Annual Report nomination option for hard copy deliveryYou only need to complete this section if you wish to receive a hard copy of the 2007/08 Trustee’s Annual Report. Please mark X beside the option below and return this form in the Reply Paid envelope provided.

If you do not elect this option we will take this as a direction that you do not require a hard copy to be sent to you, and that you will access the 2007/08 Trustee’s Annual Report online at our website. The 2007/08 Trustee’s Annual Report will be available online via IOOF websites www.ioof.com.au or www.portfolioonline.com.au on 15 December 2008.

If you wish to change your nomination in the future, please do not hesitate to contact one of our Client Services Officers on 1800 062 963 (for Personal Super and Pension) or 1800 693 894 (for Corporate and Employer Super) or go to www.ioof.com.au Client Services Officers.

2007/08 Trustee’s Annual Report hard copy – I would like a printed copy of the 2007/08 Trustee’s Annual Report to be sent to my registered mailing address.

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Mr/Mrs/Miss/Ms/Dr/Prof:

Your full name:

Client number:

Mailing Address:

Suburb: State: Postcode:

If applicable preferred contact details (Phone number/Email address):

To make sure we can record and respond to your request/s please complete your details below (unless you have already provided them on the e-comms form) and use the Reply Paid envelope provided.

Step 2: e-communication preferences

Please select either option 1 or option 2

I agree to receive the following communications from the Trustee electronically by accessing them using Portfolio Online via www.ioof.com.au

All communications, including my Member Statements, Your Choice e-newsletters, all information affecting my investments and confirmation of transactions where required by law;

OR

My selection, tick the box(es) to select the communication(s) you want to receive electronically:

My Member Statements

The Trustee’s Annual Report

Free e-newsletter Your Choice containing education and investment information

Information about changes and events affecting my investments

Confirmation of my transactions where required by law

Account number (Your account number can be found on the front of your Member Statement):

Title (Dr/Mr/Mrs/Ms/Miss):

Surname:

Given names:

Date of birth:

Suburb:

Preferred email address:

Step 1: Personal details

Sign me up for e-comms!Electronic communications authorisation

Please return the completed form to IOOF, Reply Paid 264, Melbourne VIC 8060 or in a Reply Paid envelope when provided.

This is the email address where you will be notified when e-communications have been delivered to your Portfolio Online account. IOOF respects your privacy and will not disclose your email address to anyone other than where required to administer and manage your investments.)

Step 3: Declaration

I understand and agree:

• toreceivethecommunicationsselectedinStep2fromtheTrusteeelectronicallybyaccessingthemusingPortfolioOnline;

• toregisterorberegisteredandremainregisteredasauserofPortfolioOnline;

• anycommunicationgiventomeelectronicallybymakingitavailabletometoaccessusingPortfolioOnlinewillbetakentobedelivery of the communication to me;

• theTrusteewillsendanemailnotificationtomypreferredemailaddresswhenacommunicationisavailableformetoaccessusingPortfolioOnline;

• Imustprovidemypreferredemailaddressinstep1andamresponsibletonotifytheTrusteeofanychangetomypreferredemailaddress;

• IwillbeabletoaccesssuchcommunicationsatanytimewhileIamamemberandregistereduserofPortfolioOnline;

• Icandownloadacopyofanysuchcommunication;

• youwillsendmeafreepapercopyofanycommunicationIrequest;

• PortfolioOnlineisa‘facility’forthepurposesofsection1017F(5)oftheCorporations Act 2001; and

• theTrusteemaygivemeanycommunicationinanyothermethodpermittedbylaw.

Signature Date / /

Important. Please Read Do you want to access the 2007/08 Trustee’s Annual Report online or receive a hard copy? For some time now IOOF has been giving members the choice to receive some or all communications regarding their superannuation account electronically by accessing such communication/s using the Portfolio Online web site. These communications include the annual Member Statement, the Trustee’s Annual Report, confirmation of transactions and other mandatory and voluntary communication from the Trustee.

This year, in an effort to reduce paper usage, the Australian Securities & Investments Commission (ASIC) has decided to permit all superannuation funds to put their annual Trustee’s Report on the Trustee’s web site and give to members the right, if they do not wish to access the information online, to elect to receive a copy of the annual report for each reporting period free of charge. Companies are permitted to do this under recent changes to the Corporations Act.

One of the conditions ASIC imposed for this no-action approach is that the Trustee must give to members information about the medium (5 year) and long-term (10 year) returns in their personal Member Statement. Trustees may choose to give this information in the form of an ASIC produced leaflet entitled, ‘Long-term performance figures for typical super fund investment options.’ IOOF has decided to use this method. The returns illustrated in this ASIC leaflet are not the returns of IOOF’s super funds. You will find this leaflet inserted with your annual Member Statement.

The Trustee’s Annual Report provides members with detailed information concerning changes in the IOOF Portfolio Service Superannuation Fund (the Fund) a summary of investment markets and the performance of the fund over the past year. Please note other information relevant to this report has been notified within this Your Choice publication. Refer to page 3 for ‘Changes to the Trust Deed’ and page 8 for ‘Changes to the investment options 2007/08’.

What do I need to do?Under the IOOF ‘Electronic Communications’ initiative, some members may not have agreed to receive the Trustee’s Annual Report electronically. This year, in accordance with ASIC’s decision to permit all superannuation funds to put their annual Trustee’s Report on the Trustee’s web site, those members will nevertheless have to elect to receive a paper copy of the Trustee’s Annual Report free of charge by completing the Nomination Option, provided on the adjacent detachable form, and returning it to us in the Reply Paid envelope provided by 14 November 2008.

If you do not return the Nomination Option to us by 14 November 2008, you will not receive a paper copy of the Trustee’s Annual Report, but will be able to access it on the IOOF web sites, www.ioof.com.au or www.portfolioonline.com.au from 15 December 2008. If you do return the Nomination Option, you will continue to receive a paper copy of the Trustee’s Annual Report every year while entitled, unless you change your election in the future. You may change your election at any time by completing the Electronic Communications Form available on our web site www.ioof.com.au

DISCLAIMER

Important information

Issued by IOOF Investment Management Limited (IOOF) ABN 53 006 695 021 Australian Financial Services Licence No. 230524 RSE Licence No. L0000406 Trustee of the IOOF Portfolio Service Superannuation Fund ABN 70 815 369 818.

This document contains information of a general nature only. It is not intended to represent investment or professional advice and does not take into account your investment objectives, financial situation and particular needs. We recommend that you consider talking to a financial adviser before making any investment decision based on this information, to assess whether it is appropriate having regard to your particular investment objectives, financial situation and particular needs. A Product Disclosure Statement (PDS) on any financial product mentioned in this document should also be obtained and you should consider the PDS in deciding whether to acquire, or to continue to hold, any investment.

This document has been prepared in good faith. IOOF, its related bodies corporate, their officers, employees and agents believe that the information contained in this document is accurate and reliable at the time of compilation, but no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors or omissions (including responsibility to any other person by reason of negligence) is accepted by IOOF, its related bodies corporate, their officers, employees and agents. To the extent permitted by law, no liability is accepted for any loss or damage whether direct, indirect or consequential.

All assumptions and examples are based on the continuance of present laws and IOOF’s interpretation of them. IOOF does not undertake to notify recipients of changes in the law or its interpretation.

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