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Welcome to RBF

Retirement Benefits Fund

Welcome to RBF

Information in this brochure is current as at 1 July 2011

Retirement Benefits Fund


Welcome to RBF

Table of

contents

1 RBF’s commitment

Tasmanian Accumulation

Scheme

2 Contributions

Chris (Firefighter), RBF member

Super Co-contribution

How much is enough?

3 Investment Account

4 Can I choose how

my superannuation

is invested?

What charges will I pay?

5 What retirement benefits

will I receive?

6 The RBF Board

Right to appeal

RBF Board decisions

7 Death and

Incapacity Cover

10 Feedback

Further information

On the cover

Nicole (Admin Assistant),

RBF member

Important information

This document is issued by the

Retirement Benefits Fund Board

(ABN 97 224 593 931). The Retirement

Benefits Fund Board is trustee of

the Retirement Benefits Fund (ABN

51 737 334 954). The information in

this document is for members of the

Tasmanian Accumulation Scheme.

RBF is not licensed to give financial

product advice. This document does

not include any personal advice and

is for general purposes only. As the

information and examples do not take

your personal financial objectives into

account, you should consider how

the information relates to your own

situation and needs. We recommend

that you speak with a financial

adviser before making any decisions

concerning your superannuation and

where appropriate, obtain a copy of

RBF’s most recent Member Report.

The Report and more information

is available on RBF’s website

www.rbf.com.au or by calling the

RBF Enquiry Line on 1800 622 631.

You can request financial advice from

RBF Financial Planning Pty Ltd by

calling 1300 378 057. RBF Financial

Planning Pty Ltd (ABN 17 094 816 412,

AFS Licence No 239171) is a wholly

owned subsidiary of RBF and operates

as a separate legal entity from RBF.

While we’ve tried to provide accurate

and up-to-date information, things

may have changed since the time

this document was published. Some

information may no longer be correct.

As we must comply with our governing

legislation and the Tasmanian

Accumulation Scheme Trust Deed,

the Trust Deed and legislation will

be the final authority.

The privacy of your personal

information is important to RBF.

We understand the need for

confidentiality. RBF will hold your

personal information securely and

use it only for the purposes described

in the RBF ‘Privacy Policy’ available

at www.rbf.com.au.

Your personal information (including

sensitive health information) may

be transferred between RBF, RBF’s

administrator Mercer (Australia) Pty Ltd

(ABN 32 005 315 917), RBF Financial

Planning Pty Ltd (ABN 17 094 816 412)

and the Colonial Mutual Life Assurance

Society Limited (ABN 12 004 021 809)

trading as CommInsure, the Insurer.

Certain personal information

which you provide to RBF may be

provided to your employing agency.

RBF will not, however, provide your

benefit entitlement information to

your employer.

Service providers such as the

Administrator and the Insurer may

obtain or access your personal

information on behalf of RBF (for

example, collection of information

relevant to assessment of applications

to increase insurance cover or

collection of information relevant to

the assessment of applications for

payment of insured benefits). The

privacy of your personal information is

protected by confidentiality and privacy

clauses contained in all contractual

agreements with each service provider.


Welcome to RBF 1

Look after

your super

and it will look

after you

RBF’s commitment

RBF wants to make sure that our

members and their families enjoy

a successful retirement. RBF helps

members achieve this by providing

competitive returns, flexible products

and services. RBF is the ‘fund of

choice’ for most Tasmanian public

sector employees.

Benefits that last

a lifetime

If you leave the Tasmanian public

sector you can remain an RBF member

by using the Investment Account.

This means you can continue to

make personal contributions to your

Investment Account and access many

of the benefits that RBF offers while

you are eligible to contribute to super.

Please note that your employer can

no longer make your Superannuation

Guarantee payments to RBF once you

leave the public sector.

Even though I

have changed my

career, I chose to

stay with RBF.

Lee (Student Paramedic),

RBF member

Tasmanian

Accumulation

Scheme

The Tasmanian Accumulation Scheme

is an RBF superannuation scheme.

It was introduced for people who

became Tasmanian public sector

employees after 14 May 1999 and

is the default scheme for all public

sector employees.

If you are a public sector employee

and not a member of the Tasmanian

Accumulation Scheme or the

Contributory Scheme, you can join

the Tasmanian Accumulation Scheme

at any time.

The advantages of joining are:

prompt, personalised service

strong, long-term investment

performance

a range of Member Investment

Choice options

flexible Death and Incapacity

Cover when you elect RBF to

receive your Superannuation

Guarantee (SG) contributions,

no entry fees, exit fees

or commissions

competitive administration fees

rollovers accepted from other

superannuation funds.

Flexible product

features and services

Tasmanian Accumulation Scheme

members can access a wide range

of RBF products and services:

online access to your super account

an Investment Account for you and/

or your spouse

personal contributions

salary sacrifice

an Allocated Pension

a Life Pension*

statewide seminars, workshops

and interviews

financial planning advice through

RBF Financial Planning Pty Ltd.

* access to an Life Pension is for members who

commenced their RBF account prior to 15 May 1999

and retained a financial interest in RBF since then.


2 Welcome to RBF

Investing in

super could

get you where

just saving

never will

Contributions

Employer contributions

Your employer makes contributions to

your superannuation each pay period.

These are called Superannuation

Guarantee (SG) contributions and they

are paid into your Investment Account.

These contributions are calculated

at the rate of nine per cent of salary.

Salary sacrifice contributions are also

counted as employer contributions.

There is a limit on how much your

employer can contribute to your super

fund each year. If your employer

contributions limit is exceeded, you

will have to pay tax on the excess

contributions at the top marginal rate

plus Medicare levy.

Employer contributions limit

Your contributions

If you are a Tasmanian Accumulation

Scheme member who is a

Tasmanian public sector employee

you automatically pay contributions

of five per cent of salary into your

superannuation. This amount will

be deducted from your salary, unless

you elect in writing to contribute at

another rate or you elect to make

no contributions. Elections to vary or

cease personal contributions should

be forwarded direct to your employer.

Personal contributions are paid into

your Investment Account.

You can contribute to super by:

salary deductions by either salary

sacrifice (counted towards your

employer contributions limit and

not your personal contributions limit)

or post-tax contributions

individual payments

(by cheque or Bpay ® )

rolling over money from another

superannuation fund.

There is a limit on how much you can

contribute to your super each year.

The personal contributions limit is

$150,000 each year or $450,000 over

three years for members under the age

of 65. These limits apply to the total

amount contributed for one person,

even if you contribute to more than one

account or super fund. An individual

contribution that exceeds the three-year

contribution limit cannot be accepted

and will be returned to you.

Personal contributions limit

Age under 65 $150,000 per year per

person or $450,000

over three years

Age 65

and over

$150,000 per year per

person after passing a

work test

How much is enough?

There are many views on this

but the answer depends on you.

It depends on what age you start

paying superannuation, how much

you earn, how long you work, whether

you take long periods of leave, such

as parental leave – and what you want

for a comfortable retirement. You start

with your employer contributions of nine

per cent of your salary. You can make

additional personal contributions in lump

sum cash payments or as a percentage

of your salary, it is up to you.

The percentage of salary you need

to contribute to accrue a lump sum

of about $400,000 varies with age,

salary and length of service.

You should note that if you wait until

you are aged 60 or over to retire, your

accumulated superannuation savings

in the Tasmanian Accumulation

Scheme will be free from tax.

Age under 50

Age 50 to 75

$25,000 per year

$50,000 per year

(transitional arrangement

from 1 July 2007 to

30 June 2012)

Super Co-contribution

The Super Co-contribution is a

Commonwealth Government initiative to

assist people to save for their retirement.

If you are eligible* and make personal

contributions into your super, the

Government will also contribute to your

super up to certain limits.

This means that if you make personal

contributions* into the Investment

Account, up to $1,000 could be paid

into your superannuation by the

Commonwealth Government.

Super Co-contributions do not count

towards your personal contributions limit.

*Eligibility conditions including (but not limited to)

income thresholds, personal contribution levels and

age limits apply.

Percentage of salary you need to contribute per annum

to accrue a lump sum of $400,000

Age at entry

Salary

Age 60

retirement

Age 65

retirement

30 years $35,000 10.44% 5.85%

$45,000 6.42% 2.85%

$55,000 3.86% 0.94%

40 years $35,000 27.76% 17.20%

$45,000 19.89% 11.68%

$55,000 14.89% 8.16%

50 years $35,000 83.28% 45.96%

$45,000 63.07% 34.05%

$55,000 50.21% 26.47%

Note: Assumes a real rate of return of 4.5% a year compounding fortnightly. SG contributions of 9% of salary

plus personal contributions as in table. No adjustments have been made for inflation or salary growth.

The table above is intended as a guideline only and does not suggest that $400,000 is the optimum amount

on which to retire.

® Registered to BPAY Pty Ltd ABN 69 079 137 518


Welcome to RBF 3

Excellent

service and

great returns

Investment Account

The Investment Account offers:

strong long-term investment

performance

Member Investment Choice

no entry fees, exit fees

or commissions

competitive administration fees

flexible Death and Incapacity

Cover when you elect RBF to

receive your Superannuation

Guarantee (SG) contributions,

online access to your super account

flexibility to contribute

ability to rollover money from

other superannuation funds

excellent service.

The Investment Account is a

superannuation savings account.

Preservation rules apply. This means

that you usually cannot withdraw

money from the account until you

reach preservation age and retire

from the workforce (see the table

on page 5).

If you would like further information,

please read our ‘Investment Account’

fact sheet. The annual Member Report

also contains more information about

the Investment Account.

How can I make

contributions to the

Investment Account?

Tasmanian Accumulation Scheme

members can make personal

contributions to their super, but first

you need to make sure you have

provided your Tax File Number (TFN)

to RBF. Personal contributions cannot

be accepted unless RBF has your TFN

on file. Your personal contributions

to the Investment Account can be as

RBF has been proactive

in keeping me informed

of my superannuation

package.

Colin (Inspector), RBF member

little or as much as you like up to the

contribution limits. You can start or

stop making payments at any time.

You can make contributions by:

individual payments

rolling over money from another

superannuation fund

contributing to your spouse’s

Investment Account

salary sacrifice – if your employment

conditions allow this.

Your personal contributions will be tax

free when you retire after reaching your

preservation age (see page 5 to find

your preservation age).

Rollover to the

Investment Account

You can rollover superannuation

from other funds into the Investment

Account. If you have superannuation

with a number of funds you could be

paying multiple administration fees.

By rolling over your money to the

Investment Account, you may be able

to reduce the amount you pay in fees

and simplify your superannuation.

Rollovers into the Investment Account

do not count towards your personal or

employer contributions limits, unless

the rollover contains contributions paid

in the current financial year.


4 Welcome to RBF

Your super,

your choice,

your RBF

Can I choose how

my superannuation is

invested?

As a member of the Tasmanian

Accumulation Scheme you have

access to Member Investment Choice

(MIC). With MIC you can choose an

investment strategy to suit your needs.

MIC offers a broad range of investment

options with different levels of

projected risk and return. Risk is the

amount by which the value of your

investment is likely to fluctuate in

any given period. Return is the money

you make on your investments.

You can choose to invest your

money in one investment option

or in a number of options. You can

switch between options as often as

you like. If you do not choose an

investment option, RBF will invest your

contributions in the default investment

option called RBF Actively Managed.

If you would like to know more about

RBF’s MIC options or the impact of

basic investment principles such

as risk and return on your account

balance, please visit the RBF website

at www.rbf.com.au or call the RBF

Enquiry Line on 1800 622 631.

I have found RBF

easy to deal with and

very professional.

Nick (Custodial Officer), RBF member

What charges will

I pay?

RBF does not charge entry fees, exit

fees or commissions.

RBF charges an administration fee and

an investment management fee. Each

MIC option has a different investment

management fee.

The administration fee will be deducted

directly from your account balance.

The investment management fee and

any taxation payable on investment

earnings will be deducted from gross

investment earnings before they are

credited to your account.

The RBF Board’s current policy is that

switching between MIC options is

free of charge.

Information about fees is published on

RBF’s website at www.rbf.com.au. For

further information please contact the

RBF Enquiry Line on 1800 622 631.

Your choice – select MIC

options to fit your lifestyle,

your values and your

attitude to risk...


Welcome to RBF 5

Don’t just

retire, have

something to

retire with

What retirement

benefits will I receive?

You can take a benefit from your

Investment Account when you reach

preservation age and retire from the

workforce. If you wait until you are 60

or older before you retire, all of your

benefit from your Investment Account

will be tax-free.

Preservation age

Date of birth Preservation

age

Before 1/07/60 55

1/07/60 – 30/06/61 56

1/07/61 – 30/06/62 57

1/07/62 – 30/06/63 58

1/07/63 – 30/06/64 59

After 30/06/64 60

Spouse who has

65

never worked

If you need further information about

your retirement benefits, contact

RBF for:

retirement information

a free personal interview

arrangement of a workplace visit.

How is my benefit

calculated?

Your benefit is a lump sum equal to the

balance in your Investment Account.

The balance of your account includes:

your employer contributions

(SG and salary sacrifice

contributions); plus

your personal contributions; plus

any rollover benefits; plus

any Super Co-contribution

payments; plus

your investment returns (which are

net of investment management fees,

and tax); less

the cost of Death and Incapacity

Cover, administration fees and

applicable taxes.

When can I be paid

a benefit?

Generally superannuation is paid when

you retire from the workforce and have

reached preservation age, or because

of death, diagnosis of terminal illness

or permanent incapacity.

You may be entitled to receive a

superannuation benefit under transition

to retirement. Under transition to

retirement some employees are able

to work, earn a salary and receive

a pension.

Kerri (Community Nurse), RBF member

Early release of benefits

The early release of benefits is only

permitted in very limited circumstances if:

you have been receiving an income

support benefit for at least 26 weeks

without any break. You must have a

letter confirming this from the agency

(e.g. Centrelink) that pays you; and

RBF is satisfied that you are unable

to meet reasonable and immediate

family living expenses. On this basis

RBF may release one payment to a

maximum gross amount of $10,000

to you in any 12-month period;

OR

you meet the criteria specified

for compassionate grounds.

Resignation

or redundancy

If you resign or are made redundant

from the Tasmanian public sector, your

Investment Account will remain in place

and your funds will be invested in the

same Member Investment Choice

options. However, you will no longer

be covered for Death and Incapacity.


6 Welcome to RBF

The RBF Board

The RBF Board (the Board) is the sole

trustee of RBF. The Board manages

the Tasmanian Accumulation Scheme

to provide retirement benefits

for members. The Tasmanian

Accumulation Scheme is managed

in accordance with the Tasmanian

Accumulation Scheme Trust Deed

and other legislative requirements.

The Board has seven Board Members.

The Governor appoints the Board

Members for a term not exceeding

three years. Of these Board Members:

one is an independent President

nominated by the Treasurer with

agreement of the Tasmanian Trades

and Labor Council (now operating

as Unions Tasmania);

three are nominees of the Treasurer;

two are elected by RBF members.

The Tasmanian Electoral Office

conducts elections for these two

Board Members using a postal

ballot system; and

one is a nominee of the Tasmanian

Trades and Labor Council (now

operating as Unions Tasmania).

Suspension or removal

of Board Members

The process for suspending and

removing a Board Member is set out

in the Retirement Benefits Act 1993.

1. The Governor may suspend a

Board Member for any of the

following:

misconduct

incompetence

inefficient administration

after receiving a recommendation

from the Australian Prudential

Regulation Authority.

2. A Board Member is taken to have

vacated office if he or she either:

dies

becomes bankrupt

is absent from three consecutive

ordinary meetings of the Board

without reasonable notice – unless

on leave granted by the Minister

RBF gave me valuable

information about

superannuation and

retirement planning.

Ken (Radio Room Officer), RBF member

becomes unable to perform

competently the duties of the office

is convicted of a crime or offence

which is punishable in Tasmania

by imprisonment for 12 months

or more or has been sentenced

to imprisonment following

any conviction

resigns

was appointed through holding a

particular office and the member

ceases to hold that office.

3. Where a Board Member has been

elected or chosen in accordance

with the regulations, the Governor

may remove that person if

satisfied that he or she is no

longer qualified to be elected

or chosen.

4. The Governor may revoke a Board

Member’s appointment if satisfied,

on the advice of the Treasurer

given on the recommendation of

the Board, that, if that person were

to remain as a Board Member,

the Board would not meet the

standards relating to fitness and

propriety prescribed under the

Commonwealth’s Superannuation

Industry (Supervision) Act 1993.

Right to appeal RBF

Board decisions

If you make an application to the Board

and you disagree with a preliminary

decision which RBF makes, you should

follow the steps below:

write to RBF within 21 days of

RBF informing you of its preliminary

decision. You should provide any

further evidence in support of

your application

RBF will reconsider your application,

taking into account the additional

information provided

before a final decision is made, you

will have the opportunity to appear

and be heard before the Board.

You and your legal representative,

or another person of your choice,

can attend the hearing

the Board will consider your

application and make a

final decision.

If you disagree with the Board’s final

decision you can ask the Board

to make an application to the

Supreme Court.

For more information, contact the

RBF Enquiry Line on 1800 622 631.


Welcome to RBF 7

Protect your

future with

RBF Death

and Incapacity

Cover

Advantages of having

Death and Incapacity

Cover:

you can choose a level of cover

which suits you

it covers you seven days a week,

24 hours a day

you have security for you and

your family.

RBF’s life insurance cover provides

an insured lump sum benefit in the

event of your:

Death;

Diagnosis of a Terminal Illness; or

Total and Permanent Incapacity.

RBF’s income protection insurance

cover or salary continuance cover

provides for the payment of a

Temporary Incapacity pension of up

to 75 percent of your salary for up to

two years in the event that you are

unable to work due to the existence

of a sickness or injury which

causes you to be totally disabled or

partially disabled but not totally and

permanently disabled.

Do I have Death and

Incapacity Cover?

If you are a public sector employee

under age 60 and your public sector

employer pays Superannuation

Guarantee (SG) contributions to

your Investment Account you will

be automatically provided with basic

(100%) Death, Terminal Illness,

Permanent Incapacity and Temporary

Incapacity insurance cover without

having to provide any medical

evidence as to your health.

You are not eligible for automatic

insurance cover if you have previously

received Permanent, Partial and

Permanent or Terminal Illness benefits

from RBF.

If your Investment Account is opened

only to receive a rollover-in from another

super fund (and no employer SG

contributions), you will not be provided

with insurance cover.

Further details, including information

on how to increase your insurance

cover and the eligibility criteria for

automatic insurance cover and

the payment of insured benefits,

is contained in the ‘Tasmanian

Accumulation Scheme - Death and

Incapacity Cover’ brochure available

on the RBF website www.rbf.com.au

or by contacting the RBF Enquiry Line

on 1800 622 631.

How are benefits

calculated?

Temporary Incapacity

The Temporary Incapacity Pension is

75 percent of your salary. The pension

is paid monthly in arrears for up to

two years. Continued payment of

the Temporary Incapacity Pension

is subject to the completion and

outcomes of regular medical and

income reviews.

Your pension may be reduced where

you receive other income, including

income from employment, carrying on

a business and other disability benefits

or income paid as a consequence of

your injury or illness.

Death, Terminal Illness and

Permanent Incapacity

A Permanent Incapacity, Terminal

Illness or Death Benefit is paid as a

lump sum. This can be converted to

an Allocated Pension.

The insured component of your

Death, Terminal Illness and Permanent

Incapacity benefit is calculated by

reference to a formula that considers:

your public sector salary for

the 12 months before your death

or retirement;

your level of Death and

Incapacity Cover;

the number of days from the date of

disablement or retirement until you

reach age 60; and

the rate of employer Superannuation

Guarantee contributions.

Who can be paid

a Death Benefit?

If you die before you retire, a death

benefit will be paid to your surviving

spouse or your registered carer, unless

you have registered a valid election

with RBF to have all or part of your

benefit paid to your estate.

For RBF purposes, surviving spouse

means your widow or widower and

includes a person with whom you were

in a significant relationship within the

meaning of the Relationships Act 2003,

but only where that person was living

on a genuine domestic basis with you

at the time of your death or in receipt of

significant financial support from you.

Under the Relationships Act 2003, a

significant relationship is between two

adults who:

have a relationship as a couple; and

are not married to one another or

related by family, as defined in the

Relationships Act 2003.

If you do not have a surviving spouse

at the time of death but have a

registered carer, your death benefit is

payable to your registered carer.

Registered carer means a person,

other than a surviving spouse, with

whom you were in a caring relationship

which was subject to a deed of

relationship registered under Part 2

of the Relationships Act 2003.

If you do not have a surviving spouse

or a registered carer the death benefit

is payable to your estate.

You should note, a death benefit paid

to your estate is taxed differently to a

death benefit paid to your surviving

spouse or registered carer. You may

wish to seek advice from your lawyer

or a financial adviser before making

such an election.


8 Welcome to RBF

Levels and cost

of Death and

Incapacity Cover

If your employer contributes SG

contributions to your superannuation,

these contributions are at the rate of

nine per cent of salary. The cost of

Basic (100%) Death and Incapacity

Cover is only 6.12% of your SG

contribution. RBF automatically

deducts this amount from your

Investment Account.

If you choose a different level of

cover, RBF will deduct the appropriate

premium* from your account.

The table below shows the cost

of each level of cover.

Level of Death

and Incapacity

Cover

Cost as a

percentage

of your SG

contribution

0% (no cover) 0%

50% of basic cover 3.62%

100% of basic cover 6.12%

(default cover)

150% of basic cover 8.62%

200% of basic cover 11.12%

250% of basic cover 13.62%

300% of basic cover 16.12%

*Death and Incapacity premium rates are subject to

regular review.

For clarification around your personal

cover, please call the RBF Enquiry Line

on 1800 622 631.

How much Death and Incapacity Cover do I need?

RBF offers 50% to 300% cover. Varying your cover will not affect your Temporary

Incapacity Pension.

If you only have Basic (100%) cover, your potential benefit may not be enough.

Increasing your level of Death and Incapacity Cover will increase your potential

Death, Terminal Illness or Permanent Incapacity benefit. The Insurer may impose

specific individual exclusions, restrictions and conditions in relation to the increased

cover. Your Temporary Incapacity benefit will continue to be 75% of your salary.

To increase your cover you will need to complete the ‘Tasmanian Accumulation Scheme –

Adjusting your insurance cover’ form. All increases to your insurance cover are subject

to acceptance by the Insurer.

Example

Your insured Death, Terminal Illness and Permanent Incapacity benefits increase

when you choose a higher level of cover. Bev is 36 years old. This means her

prospective service to age 60 is 24 years. She has $14,500 in her Investment

Account to add to her calculation of insured amount. Her salary is $42,000 pa.

If Bev had basic (100%) Death and Incapacity Cover, the insured component of

her death, terminal illness and permanent incapacity benefit would be $90,720,

providing a total benefit of $105,220. If Bev had 200% of basic cover, the insured

component of her death, terminal illness and permanent incapacity benefit would

be $181,440, providing a total benefit of $195,940.

Balance of

Investment

Account

Level of

cover

Calculation of insured amount

Total benefit

$14,500 50% 0.5 x ($42,000 x 9% x 24) = $45,360 $59,860

$14,500 Basic 100% 1.0 x ($42,000 x 9% x 24) = $90,720 $105,220

$14,500 150% 1.5 x ($42,000 x 9% x 24) = $136,080 $150,580

$14,500 200% 2.0 x ($42,000 x 9% x 24) = $181,440 $195,940

$14,500 250% 2.5 x ($42,000 x 9% x 24) = $226,800 $241,300

$14,500 300% 3.0 x ($42,000 x 9% x 24) = $272,160 $286,660


Welcome to RBF 9

When does my Death

and Incapacity

Cover cease?

Unless you are receiving a Temporary

Incapacity Pension, or are in receipt

of a regular benefit in accordance

with the Workers Rehabilition and

Compensation Act 1988, your Death

and Incapacity Cover will cease if any

of the following occurs:

the day RBF receives your

election not to have Death

and Incapacity Cover

the day after you cease employment

with your public sector employer

four months after RBF receives

the last SG contribution from

your employer

twelve months after RBF receives

the last SG contribution from your

employer if you have been on sick

leave without pay or parental leave

the day you cease to be a

member of the Tasmanian

Accumulation Scheme

on joining an alternative

superannuation fund or RSA

on the day you reach age 60

the day on which a death, terminal

illness or permanent incapacity

benefit becomes payable in

accordance with the Trust Deed

30 days has expired since your

account balance reached zero.

If more than one of these events

occurs, your cover will cease from

the earliest date.

Pandemic Illness

You are not entitled to the payment

of an insured death benefit if:

on the date your insurance cover

commences, recommences or

increases you are suffering from

a Pandemic Illness which is the

subject of a notice issued by the

Insurer to RBF; and

you die from the Pandemic Illness

within 30 days of your insurance

cover commencing, recommencing

or increasing (but only the increased

benefit is not payable).

The Pandemic Illness exclusion

ceases to apply after the expiry of

the 30 day limitation.

The Pandemic Illness exclusion does

not impact your Permanent Incapacity

or Temporary Incapacity benefits.

Important information

for members who are

currently considering

leaving the public sector

Please note that if you are no longer a

public sector employee, you no longer

have the right to make an application

for payment of insured benefits.

If you are planning to make a claim,

you must be a current public sector

employee who has Death and

Incapacity cover in order to be eligible.

There’s more information about

claiming your benefit on the RBF

website at www.rbf.com.au where

you can also find information about

the relevant RBF legislation.

About the Insurer

RBF has appointed the Colonial

Mutual Life Assurance Society Limited

(ABN 12 004 021 809) trading as

CommInsure (the Insurer) to provide

income protection (Temporary

Incapacity) and life insurance cover

(Death, Terminal Illness and Permanent

Incapacity) to eligible members of the

Tasmanian Accumulation Scheme.

The RBF Board as trustee of the

Tasmanian Accumulation Scheme

owns a group life insurance policy and

a group income protection insurance

policy issued and underwritten by

the Insurer.

The RBF Board provides insurance

cover to eligible members subject

to the terms and conditions of the

relevant group insurance policy and

the Tasmanian Accumulation Scheme

governing rules. The RBF Board

is responsible for enforcing rights,

remedies and benefits under the group

insurance policies for the benefit of

insured members.

If for any reason the Insurer limits,

restricts or refuses to consider, defers

or denies an insurance claim in whole

or in part, the RBF Board may adjust

your benefit to take account of the

reduction or non-payment of

insurance proceeds.

I have appreciated

the low fees and

flexibility RBF

offers, along

with the ongoing

assistance of

their staff.

Ian (Retiree), RBF member


10 Welcome to RBF

Feedback

RBF welcomes all feedback from

members. Member feedback can

help RBF to provide you with a better

service. RBF is committed to settling

any member complaints or concerns

quickly and fairly. If you have any

complaints, concerns or feedback,

please contact the RBF Enquiry Line

on 1800 622 631.

Further

information

More information about RBF’s

management and financial condition

and investment performance is

contained in the Member Report.

RBF will send you:

an annual Member Benefit Statement

information about RBF’s investment

performance

information about RBF’s products

and services.

You could also explore your

superannuation options by reading

one of RBF’s fact sheets or brochures.

You can visit the RBF website to view

these publications, or logon to access

your personal account details at

www.rbf.com.au.

RBF Complaint

At RBF we strive to ensure our

members receive the best possible

service at all times, but sometimes

our service might not meet your

expectations. For this reason,

RBF has a comprehensive complaint

process to address member concerns.

Members who may be unhappy

with the way RBF has handled an

administrative matter are encouraged

I willingly contribute

extra money to my

superannuation to

help me maintain a

comfortable lifestyle

once I retire.

Irene (Cashier), RBF member

to contact the RBF Enquiry Line

on 1800 622 631 and explain their

concerns. We are keen to ensure our

service is of the highest quality at

all times and will assist members in

finding an acceptable resolution.

Where the member’s concerns have

not been addressed, they can write to:

RBF Reviews and Complaints Officer

Retirement Benefits Fund Board

GPO Box 446

HOBART TAS 7001

If a member’s complaint has been

investigated and they are not satisfied

with the response provided by RBF,

the member has the option of lodging

a complaint with the Tasmanian

Ombudsman. The Ombudsman

can be contacted via email at

ombudsman@ombudsman.tas.gov.au

or by calling 1800 001 170.

Further information about RBF’s

complaint process can be found at

www.rbf.com.au or by contacting RBF.


Notes

Welcome to RBF 11


12 Welcome to RBF

Notes


Related documents

‘Tasmanian Accumulation Scheme – Death and

Incapacity Cover’ brochure

‘Tasmanian Accumulation Scheme – Adjusting

your insurance cover’

‘Tasmanian Accumulation Scheme – Application

to make lump sum contributions’ form

‘Super Co-contributions’ fact sheet

RBF Member Investment Choice’ brochure

‘Tasmanian Accumulation Scheme –

Changing your investment options’ form

‘Tasmanian Accumulation Scheme – Apply for

spouse membership’ form

‘Tasmanian Accumulation Scheme –

Rollover form’

Contacting RBF

Contact RBF if you would like additional

information or assistance.

RBF Enquiry 1800 622 631 or

Line: +61 3 8687 1863 (international)

Visit:

Fax:

www.rbf.com.au

(03) 9245 5827 or

+61 3 9245 5827 (international)

Write: RBF, Reply Paid 446,

Hobart TAS 7001

Offices:

39 Sandy Bay Road, Hobart

Level 1, 87 George Street,

Launceston

RBF13831_Welcome to RBF brochure_0611

AL/B/00105 (V10-10/11) Issued by Retirement Benefits Fund Board ABN 97 724 593 931 as Trustee for Retirement Benefits Fund (RBF) ABN 51 737 334 954.

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