Significant Event Notices

The Trustee is required to notify members of material changes or significant events (as defined in the Superannuation Industry Supervision Act 1993) relating to their entitlements with REI Super. Such changes or events generally include changes to fees and costs, insurance cover or premiums.

REI Super communicates such matters through Significant Event Notices (SEN) which may be issued exclusively or within other correspondence such as annual statements or newsletters. Changes or events announced in a SEN are generally incorporated into the subsequent version of the applicable Product Disclosure Statement (PDS).

ItemDateNature of Event or ChangeImpact of the ChangeImpacted Members
Changes to Investment Fees1/11/2017A change to the total investment management fees for both Super and Pension products.The total investment management fees paid by members, for both Super and Pension products, are expected to change on or after 1 November 2017.All Super and Pension members
Changes to Salary Continuance Insurance24/05/2016Effective 1 July 2016, there are changes to Salary Continuance Insurance (SCI) premiums.The premiums for SCI will be changing for those members who previously had cover under the unit-based scale. Premiums will be calculated using an age-based scale instead of a unit-based scale, which is independent of a member’s age.Members with SCI prior to 1/10/2013
Asset allocation and fee updates28/05/2015From 1 July 2015, new strategic asset allocations, as well as changes to the investment management fees, performance fees and buy/sell spreads will take effect.There will be new strategic asset allocations for the Stable option, Premium Income option, Trustee Super Balanced option and Growth option. Investment management fees, performance fees and buy/sell spreads charged by the Fund’s investment managers are expected to change.Pension
Insurance fee changes28/05/2015From 1 July 2015, insurance fees for new and existing members will be changing.

From 1 July 2015, insurance fees for new and existing members will be changing.

Members who have unit-based cover for Death and Total and Permanent Disablement Insurance, fixed cover for Death or Total & Permanent Disablement Insurance or Salary Continuance Insurance will change.

All
MySuper Accrued default amount5/09/2014As at 1 October 2013, REI Super’s Trustee Balanced Option for super accounts is authorised as a MySuper product for REI Super Elite members.The Trustee Super Balanced option (MySuper) became REI Super’s MySuper product REI Super Elite members and all members that met the definition of a MySuper member were transferred into our MySuper product. There was no change to the fees charged, and all transferred benefits and insurance cover remain the same.

REI Super Elite

MySuper members

Pension fee changes22/06/2014Effective 24 September 2014, the fees for an REI Super Pension account will change.The fees for existing and new REI Super Pension members will change.Pension
MySuper Accrued default amount9/03/2014As at 1 July 2013, REI Super's Trustee Balanced Option for super accounts is authorised as a MySuper product.The Trustee Super Balanced option (MySuper) became REI Super’s MySuper product and all members that met the definition of a MySuper member were transferred into our MySuper product. There has been no change to the fees charged, and all transferred benefits and insurance cover remain the same.MySuper
Member Benefit Protection fee changes12/09/2013Effective 1 October 2013, the fund can no longer provide Member Benefit Protectionfor accounts with balances under $1,000.Any administration charges incurred will be debited from your account.Members with balances under $1,000
Changes to Salary Continuance Insurance1/08/2013Effective 1 October 2013, there are changes to Salary Continuance Insurance (SCI) premiums.The premiums for SCI will be changing for those members who apply for new cover after that date or alter their levels of cover.All
REI Super is MySuper ready31/05/2013Effective 1 July 2013, REI Super's Trustee Balanced Option for super accounts is authorised as a MySuper product.The Trustee Super Balanced option will become REI Super’s MySuper product and all members that meet the definition of a MySuper member will be transferred into our MySuper product. There will be no change to the fees charged, and all transferred benefits and insurance cover remain the same.All
Accumulation fee changes1/09/2012Effective 1 November 2012, the administration fee and asset based administration fee will increase.The administration fee deducted from members' accounts will increase from $1.50 to $1.65 per week. The asset based administration fee will also increase from 0.21% to 0.28% (21 to 28 basis points).Accumulation
Changes in standard insurance cover level22/05/2012Effective 22 June, 2012, the standard or 'default' level of insurance cover will change.The standard or ‘default’ level of cover will increase from two to four units. The automatic acceptance level for new members who join the Fund will increase from 3 to 6 units. A change in the premium table for each age to implement a ‘lifestyle’ cover scale to better reflect members’ insurance needs during their careers.All

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