Uniting Church Superannuation Plan - SuperFacts.com

Uniting Church Superannuation Plan
Always caring for your super
Annual Report for the year ended 30 June 2010
Uniting Church Superannuation Plan 1

Contents
Your super: back in bloom................................................................3
Fairer weather brings improved outlook............................................4
Bearing fruit – your earnings.............................................................5
Cultivating your super.......................................................................8
Your investment options in detail.......................................................9
UCSuper’s harvest.........................................................................10
Financial summary..........................................................................10
Fees and costs...............................................................................11
Tending UCSuper..........................................................................16
When you can harvest your super crop..........................................17
Let UCSuper know........................................................................18
Your membership category
The category that you belong to as a UCSuper member is shown on your annual benefit statement. Members in the Accumulation section
consist of active Accumulation, Retained Benefit and Spouse members. The Pension section includes members receiving pension benefits
and there are a small number of members in the Defined Benefit section.
A reference to an “Accumulation account” means an account which operates on an accumulation basis. Accumulation accounts include:
• all accounts maintained for members in the Accumulation section (i.e. for Accumulation, Spouse and Retained Benefit members);
• any voluntary contribution/rollover accounts maintained for members in the Defined Benefit section;
The majority of Plan assets are held in Accumulation accounts and Pension accounts. In addition there are some assets held to support the
defined benefits provided to members in the Defined Benefit section. These are referred to as the Defined Benefit assets.
Finding your information at a glance
To make finding your information as easy as possible, throughout this year’s report we have colour coded information that relates to specific
membership sections or account types. You should note however, that where colour-coding is not used, the information applies to all sections
of membership.
Accumulation accounts
Defined Benefit accounts
Pension accounts
2 Uniting Church Superannuation Plan

Your super: back in bloom
Welcome to the UCSuper 2010 Annual Report
The year ended 30 June 2010 has brought welcome relief from
the turbulence of the investment markets in the previous two
years. While the financial year has not been without its challenges,
UCSuper has once again delivered sound positive returns across
the board to our members.
At UCSuper, we understand how important financial security is for
you and your family, both now and into your retirement. And we
are committed to helping you, personally, at every point along the
way. Your insurance cover gives you peace of mind now and as you
move towards retirement, we offer transition to retirement allocated
pensions that give you flexibility and choice so you can approach
retirement your way.
You can take UCSuper with you, no matter who you work for, so you
don’t have the inconvenience of having to change super funds. Call
the UCSuper Helpline if you need more information about staying
with UCSuper or if you have any questions about your super. You’ll
find all our contact details on the last page of this report.
Our commitment to caring for our planet
This year, to save print, postage and more importantly, the
environment, this 2010 UCSuper annual report is available online,
rather than being printed and posted with your annual Member
statement. Similarly, to expand our use of electronic communication
to you, we ask you to give us your email and/or mobile details,
so we can improve the speed and the way in which we
communicate with you. If you give us your details between now
and 31 December 2010, you’ll go into the draw to win a Panasonic
Lumix digital camera, valued at up to $400.
You can provide your details through the UCSuper website by
updating your personal details once you have signed into your
account information, using your member number (which is on your
statement) and your PIN. Once you have included your email or
mobile number on your Personal details page, don’t forget to click
the “submit” button at the bottom of the page. If you don’t know
your PIN, call the Helpline for a new one.
Alternatively you can complete and return the underside of your
Member statement cover sheet. You can submit your details,
regardless of whether we already have them, to go into the prize
draw. Entering couldn’t be any faster or easier.
Helping you to plan and manage your super online
The UCSuper website has an array of information to help keep
you up-to-date with your super. You can also complete a number
of transactions online, such as change your personal details,
update your nominated beneficiaries, check the performance of
your super or change your investment option. You can also use
BPAY now to make contributions to your super account using
your internet or phone banking account. For your personal BPAY
reference number, sign into your account online and click on the
BPAY symbol. Why not visit the website www.ucsuper.com.au
and take a look
Investment performance is back in the black
The 2009/10 financial year commenced strongly, with the market
upswing continuing through 2009 and into 2010. However, waning
confidence in the last months of 2009 and unsettled markets in the
last three months of the year caused some backtracking of earlier
market gains, partially dampening the full year’s returns.
Accumulation and pension accounts
Despite a difficult finish to the year, you can see from the table
below, as at 30 June 2010 three out of five options for Accumulation
members and four out of five options for Pension members topped
returns of 10% p.a. You can find detailed investment performance
on pages 5 to 6.
Accumulation
accounts % p.a.
Pension accounts
% p.a.
Crediting rates for year to 30 June 2010
High
Growth Growth SRI
Diversified
Growth
Conservative
13.4 11.4 9.4 10.0 7.3
14.8 13.0 10.8 11.6 8.6
Defined Benefit members
For members in the Defined Benefit section, the net earning rate
for the assets that support their defined benefits is 11.46% p.a. The
crediting rates shown in the previous table apply to Accumulation
accounts for Defined Benefit members, according to the investment
option(s) they have chosen for that account.
The standard triennial review was initiated from 30 June 2009 and
the actuary has indicated that the Plan was in a satisfactory financial
position at that date.
Value-for-money super
To confirm that we provide you with value-for-money super benefits at a
competitive cost, we asked a reputable super ratings agency to compare
us to other Australian super funds. We are delighted to report that we
rated well above the Balanced Industry average for our investment
performance and our fees and charges (excluding insurance premiums).
New insurer from 1 July 2009
From 1 July 2009, our new insurer, International Underwriting Services
Pty Ltd (IUS) has been providing insurance benefits to our members.
We have always focussed on the level of personal assistance we
provide to our members who need to claim on their cover, aiming to
work closely with our insurer to make the process as smooth and
efficient as possible. If you have any questions about your insurance
cover or to make a claim, please call UCSuper.
Expert advice can help to nurture your crop
We know that super can be confusing at times, but it is vital that you
make the most of it. It’s your money and what you do now can make
a big difference to your nest egg when it comes time to retire. Even
the smallest things can make a difference. This is when getting some
financial advice from a licensed financial expert can really help.
We can help you with general product advice for your super
enquiries. Our members are also entitled to a free, no obligation initial
consultation with Industry Fund Financial Planning (IFFP) who offers
a fee-for-service for preparation of financial plans. Think of financial
advice as an investment, which can really make a difference to your
super. For an appointment, call IFFP 1300 138 848 (Australia-wide).
UCSuper: continuing to care for your super.
Neil Kent
General Manager
UCSuper
Uniting Church Superannuation Plan 3

Fairer weather brings improved outlook
Market and economic conditions in detail for the 12 months to 30 June 2010
30
Asset Class Returns
25
27.1
Return (%)
20
15
10
5
0
-5
13.1
11.2
-4.8
5.2
14.1
-2.6
16.2
-0.4
17.9
2.1
2.8
-1.5
20.3
-6.3
-1.4
-0.6
3.6
7.9
3.5
9.2
1.1
3.9
-10
-11.2
-11.6
-10.9
-15
Australian
Shares
Australian
Small Caps
Overseas
Shares (UH)
Overseas
shares (H)
Overseas
Small Caps (UH)
Emerging
Markets (UH)
Direct
Property
Australian
REITs
Global
REITs (H)
Global
Listed Infr. (H)
Australian
Fixed Income
Overseas
Fixed Income (H)
Cash
June 2010 Quarter 12 Months to June 2010
Data source: Thomson Financial Datastream; MSCI Date provided ‘as is’
The 2009/2010 financial year produced positive returns for investors
across all asset classes except for Global Listed Infrastructure.
Australian Shares outperformed their unhedged global peers.
Investments in Overseas Shares (Hedged and Unhedged), Overseas
Small Caps, Emerging Markets and Global REITs (Hedged) all
provided strong returns over the year. Most of the gains in equity
markets were made in the first half year. Concerns about the pace of
the global recovery out of the GFC, triggered by problems in Europe
(in particular in relation to sovereign debt) led to aggressive selling in
the last two months of the financial year.
Bond market returns were strong after yields fell as risk aversion
dominated sentiment.
Key developments during the year were:
• The Reserve Bank of Australia lifted the cash rate from 3.0% to
4.5%. In June, the board cited the potential for events in Europe
to affect the global economy as a factor in its decision to leave
rates on hold.
• Australian economic data highlights:
– GDP expanded at 0.5% quarter-on-quarter pace in the March
quarter, less than half the upwardly revised 1.1% rate of
advance in 4Q 09.
– Employment increased. The unemployment rate fell to 5.2%
in June.
– The NAB survey showed business confidence fell for a third
straight month in May. The index fell to +5 (expected +11).
– Housing finance commitments fell 2.8% in April, after also
falling in February and March. This reflected the phasing
down of the First Home Owners Grant.
• US economic data highlights:
– The FOMC left interest rates on hold at 0.25% in light of
continued concerns regarding economic growth including
low rates of resource utilisation, subdued inflation trends and
stable inflation expectations.
– The official unemployment rate hit a new high of 10.2%
after data was released during the December quarter.
– In January, US President Obama proposed the introduction of
limits on the size of proprietary trading operations by banks and
the banning of proprietary trading by deposit taking banks in
order to curb banks risk taking.
– The ISM manufacturing index expanded for a tenth straight
month, along the way hitting its highest reading (March, 59.6)
since June 2004.
• In China:
– The Chinese authorities announced a set of measures to tighten
monetary policy, including raising the reserve requirements of
banks by 0.5%, lifting the official interest rate and curbing bank
lending.
– A series of measures were announced aimed at cooling growth
in the residential property market, including raising the downpayment
on first homes of more than 90 square metres to 30%
from 20% and raising down-payments on second homes to 50%
from 40%.
– The People’s Bank of China announced a rise in the deposit
requirement ratio by 50bps to 17% for larger institutions in an
attempt to slow credit growth. Also, China abandoned its
currency peg with the USD, moving back to a target range against a
basket of currencies which was the system employed until 2008.
– GDP rose 11.9% year-on-year in Q1 which was above consensus
(11.7%) due to solid investment and private consumption growth.
– Manufacturing activity expanded in May for the 15th
straight month.
• The International Monetary Fund (IMF) upgraded its global economic
forecast for 2010 from 3.1% to 3.9%, and also lifted its Australian GDP
growth forecast to 2.5% in 2010 and 3.0% in 2011.
• In late March, Europe’s leaders agreed to an emergency facility for
Greece backed by the IMF and bilateral loans from Euro zone states.
• Ratings agencies downgraded the rating on Greek bonds to “junk”.
• Oil gained 7.8% to finish at US$75.25/bbl. There was strong
support for gold as risk aversion set in. Gold hit a record high of
US$1,265/oz during the June quarter before closing up 34.2% at
US1,242/oz.
4 Uniting Church Superannuation Plan

Bearing fruit – your earnings
Australian shares
The Australian share market started the financial year strongly, rising
21.6% in the September quarter. However, the market went downhill
from there. The second quarter return was 3.4%, while the three
months from January to March returned a meagre 1.3%. The market
drastically declined in the last quarter, with the market falling 11.2%
over the three months to June 2010. The S&P/ASX 300 Index
returned +13.1% for the year.
Overseas shares
Overseas shares (unhedged in AUD) returned 5.2%, with most
major markets other than Japan able to produce a good return for
the year. The appreciation of the Australian dollar against most major
currencies, particularly the Pound and the Euro, resulted in a fully
hedged investor seeing a return of 14.1%.
Property
Global Listed Property (FTSE EPRA/NAREIT Global Hedged
AUD Index) outperformed all other asset classes gaining 27.1%.
Domestic Listed Property (S&P/ASX 300 Property Trust Index)
returned a robust +20.3% over the financial year.
Fixed income and cash
Domestic bond returns were strong after Australian 10 year bond
yields fell 53bps to 5.09%. The UBS Composite Index returned
+7.9% for the year. Global bond returns were also strong after
US 10 year bond yields fell 60bps to 2.93%. The Citigroup World
Government Bond Index and the Barclays Capital Global Aggregate
Index returned +9.2% and +11.5% over the financial year.
Currency markets
Over the June year the Australian dollar appreciated 4.5% against
the US dollar, 15.0% against the Pound Sterling and 19.6% against
the Euro. The local currency depreciated 4.2% against the Yen.
Over the financial year the Australian dollar gained 4.0% on a trade
weighted basis.
We talk about two different rates in this report – a net earning rate
and a crediting rate. Let’s look at what each of these rates mean for
Accumulation accounts, Pension accounts and for Defined Benefits.
Earnings for Accumulation accounts
Net earning rate
This is the rate of investment return (after tax and investment expenses)
on money invested in each investment option. It is expressed as a
percentage rate per annum of assets and can be positive or negative.
Crediting rate
Each month, the Trustee calculates the crediting rate for each investment
option. This is calculated as the net earning rate (positive or negative) on
each investment option less an allowance for the Plan’s administration
expenses not already recovered from administration fees deducted from
members’ accounts or the Plan’s Administration Reserve.
How are earnings applied to Accumulation accounts
Crediting rates (which can be either negative or positive), are applied
each month to your account according to your chosen investment
option(s), taking into account your daily transactions during the
month. Your actual investment earnings may therefore be different to
the crediting rates because of the timing of your transactions, such as
withdrawals, switching and contribution payments.
This year’s net earning rates
The Plan’s investment performance over the 2009/10 year reflected
a pleasing return to positive rates. While the returns didn’t quite
reach the highs that might have been expected based on the signs
of market recovery in the earlier half of the year, they were still
solid for all options. The net earning rates achieved by the Plan’s
investment options are detailed in Table 1. Please be aware that past
performance is not necessarily an indication of future performance
and returns can be volatile as a result of market fluctuations.
This year’s crediting rates
For the year ended 30 June 2010, the Trustee has deducted
0.4% p.a. from the net earning rates for administration expenses.
This adjustment is reflected in the annual crediting rates which are
also detailed in Table 1.
Table 1
Year ended
30 June
High
Growth 1
Growth
Net earning rates (% p.a.)
SRI
Growth 2 Diversified Conservative
Investment option
High
Growth 1
Growth
Crediting rates (% p.a.)
SRI
Growth 2 Diversified Conservative
10 year returns 3.7 4.6 -2.6 4.9 5.0 3.8 4.5 -2.5 4.8 4.9 3.2
5 year returns 3.7 4.2 -2.6 4.3 4.9 3.6 4.2 -2.5 4.2 4.8 3.0
2010 13.8 11.8 9.8 10.4 7.7 13.4 11.4 9.4 10.0 7.3 3.1
2009 -14.7 -9.9 -11.4 -7.0 1.0 -14.2 -9.4 -10.9 -6.5 1.6 1.5
2008 -15.8 -10.3 -9.0 -6.9 0.7 -15.6 -10.1 -8.8 -6.7 0.9 4.5
2007 21.3 16.6 3.3 14.1 7.9 20.9 16.2 3.1 13.7 7.5 2.1
2006 20.8 16.7 n/a 13.0 7.2 20.4 16.3 n/a 12.7 6.9 4.0
You can see how much you have earned (or lost) on your UCSuper account this year, and over the longer term – the crediting rates applied
for each month in 2009/10 are shown on your annual statement of benefits.
CPI
1
The High Growth Option was introduced in December 2000. The rate of return for the 2000 year has been calculated for 7 months to 30 June 2001.
The 10 year return reflects performance for the 9 years and 7 months since inception.
2
The SRI Growth Option was introduced on 1 December 2006 and there were no returns to report prior to 1 February 2007 when the first investment was made. The rate of return for
the 2007 year has been calculated for 5 months from 1 February 2007 to 30 June 2007. The 5 and 10 year returns reflect performance for the 3 years and 5 months since inception.
Uniting Church Superannuation Plan 5

Earnings for Pension accounts
Net earning rate
This is the rate of investment return (after investment expenses 3 ) applied on money invested in each investment option. It is expressed as a
percentage rate per annum of assets and can be positive or negative.
Crediting rate
Each month the Trustee calculates the crediting rate for each investment option. This is calculated as the net earning rate (positive or
negative) on each investment option less an allowance for the Plan’s administration expenses not already recovered from administration fees
deducted from members’ accounts or the Plan’s Administration Reserve.
How are earnings applied to Pension accounts
Crediting rates (which can be either negative or positive), are applied each month to your account according to your chosen investment
option(s), taking into account your daily transactions during the month. Your actual investment earnings may therefore be different to the
crediting rates because of the timing of your transactions, such as withdrawals, switching and establishment date.
This year’s net earning rates
The Plan’s investment performance over the 2009/10 year reflected a pleasing return to positive rates. While the returns didn’t quite reach
the highs that might have been expected based on the signs of market recovery in the earlier half of the year, they were still solid for all
options. The net earning rates achieved by the Plan’s Pension investment options are detailed in Table 2. No tax is paid on investment
earnings for the assets supporting the Pension benefits. Please be aware that past performance is not necessarily an indication of future
performance and returns can be volatile as a result of market fluctuations.
This year’s crediting rates
For the year ended 30 June 2010, the Trustee has deducted 0.4% p.a. from the net earning rates for administration expenses. This adjustment
is reflected in the annual crediting rates which are also detailed in Table 2.
Table 2
Year ended
30 June
High
Growth 4
Growth
Net earning rates (% p.a.)
SRI
Growth 5 Diversified Conservative
Investment option
High
Growth 4
Growth
Crediting rates (% p.a.)
SRI
Growth 5 Diversified Conservative
10 year returns 5.7 6.1 -2.5 6.1 6.0 5.6 5.9 -2.4 6.0 5.9 3.2
5 year returns 4.5 4.9 -2.5 5.1 5.7 4.4 4.9 -2.4 5.0 5.6 3.0
2010 15.3 13.4 11.2 12.0 9.0 14.8 13.0 10.8 11.6 8.6 3.1
2009 -15.0 -10.6 -12.2 -7.5 1.2 -14.6 -10.1 -11.7 -7.0 1.8 1.5
2008 -16.1 -11.0 -9.5 -7.4 0.9 -15.9 -10.8 -9.3 -7.2 1.2 4.5
2007 23.3 18.6 3.8 16.1 9.2 22.9 18.2 3.6 15.7 8.8 2.1
2006 22.9 18.8 n/a 14.9 8.5 22.5 18.4 n/a 14.6 8.1 4.0
You can see how much you have earned (or lost) on your UCSuper account this year on your annual statement of benefits.
CPI
You should be aware that investment returns can be volatile and the value of your investments may increase
or decrease over time. Also, you should not rely on past performance as an indicator of future performance.
We strongly recommend that you speak to your financial adviser before making any investment decisions.
In addition, the investment objectives for each option are important as they help to set the direction for each
investment strategy; however they must not be taken in any way to be a forecast or prediction of future
investment performance.
3
No tax applies to the investment earnings of the assets supporting the Pension section.
4
The High Growth Option was introduced in December 2000. The rate of return for the 2000 year has been calculated for 7 months to 30 June 2001.
The 10 year return reflects performance for the 9 years and 7 months since inception.
5
The SRI Growth Option was introduced on 1 December 2006 and there were no returns to report prior to 1 February 2007 when the first investment was made. The rate of
return for the 2007 year has been calculated for 5 months from 1 February 2007 to 30 June 2007. The 5 and 10 year returns reflect performance for the 3 years and 5 months
since inception.
6 Uniting Church Superannuation Plan

Administration reserve
The Trustee maintains a small Administration Reserve to smooth
the Plan’s expense deductions for Accumulation and Pension
accounts from year to year. With the rounding of crediting rates,
there can also be small amounts of under allocated earnings
(which are credited to the Administration Reserve) or over allocated
earnings (which are debited to the Administration Reserve). The
assets supporting the Administration Reserve are spread across all
investment portfolios and will vary throughout the year depending
on the source of the over or under-allocation of earnings.
The Trustee reviews the amount held in the Administration Reserve
each year when it sets the administration expense deduction for
the year and the final declared crediting rates for all Accumulation
and Pension accounts in the month of June. The Trustee obtains
advice from the Plan’s Actuary as part of this review process.
The Trustee’s management policy for the Administration Reserve
is to maintain the reserve from year to year at no more than 0.5%
of the Plan’s net assets.
The movements in the Administration Reserve over the past three
years have been:
Date
Administration
Reserve
% of Plan’s
net assets
1 July 2007 to 30 June 2008 $281,613 0.1
1 July 2008 to 30 June 2009 $438,551 0.17
1 July 2009 to 30 June 2010 $377,583 0.13
The level of Administration Reserve at 30 June 2010 is within the
Trustee’s agreed reserve range.
Interim crediting rates for Accumulation and
Pension accounts
When you commute a benefit from the Plan, the Trustee uses an
interim crediting rate to apply earnings to your accounts for the
period following the declaration of the last month’s crediting rate,
up to the date of payment. The interim crediting rate is reviewed
each month and is based on the rate credited to the Plan’s bank
account, after allowing for tax, if applicable, and a 0.4% p.a.
administration expense deduction.
You should note that if a downward movement of 7% or more
occurs in either the Australian or overseas share markets since
the effective date of the last declared crediting rate, the Trustee
may choose to suspend benefit payments for a short time. During
this suspension period, the Trustee will assess whether the Plan’s
interim crediting rate needs to be reviewed. Should this occur, the
website will be updated to keep you informed.
At the time this report was issued, the interim crediting rates for
August 2010 were:
• 3.43% p.a. for members’ account balances in the Accumulation
section; and
• 4.10% p.a. for members’ account balances in the Pension section.
The respective interim crediting rates for Accumulation accounts
and Pension accounts apply regardless of the investment option
you have selected.
Earnings for Defined Benefit section assets
Defined Benefits are calculated in terms of a percentage of salary
for each year of Plan membership and are not directly affected by
investment returns.
For Defined Benefit section assets, a monthly crediting rate is
determined by the Trustee. This crediting rate is applied to your
compulsory member contribution accounts which may be taken into
account in determining your final benefit. It does not apply to your
voluntary and rollover accounts. (Earnings for these accounts are
based on the relevant Accumulation crediting rates.) The monthly
crediting rate is equal to the net earning rate on the Plan’s Defined
Benefit assets.
The net earning rate (which can be either negative or positive) is
the rate of investment return (after tax and investment expenses)
for the Defined Benefit section assets.
Past performance is not necessarily an indicator of future performance.
Year ended 30 June
Net earning
rate % p.a.
Crediting rate
% p.a.
10 year returns 6.5 6 6.5 6
5 year returns 4.6 4.6
2010 11.5 11.5
2009 -8.3 -8.3
2008 -8.8 -8.8
2007 15.9 15.9
2006 15.8 15.8
Interim crediting rates for Defined Benefit accounts
When you withdraw your benefit from the Plan, the Trustee may
use an interim crediting rate to apply earnings to your individual
member Defined Benefit accounts for the period following the
declaration of the last month’s crediting rate, up to the date of
payment. The interim crediting rate is reviewed each month and is
based on the rate credited to the Plan’s bank account after allowing
for a 15% tax expense.
You should note that if a downward movement of 7% or more
occurs in either the Australian or overseas share markets since
the effective date of the last declared crediting rate, the Trustee
may choose to suspend benefit payments for a short time. During
this suspension period, the Trustee will assess whether the Plan’s
interim crediting rate needs to be reviewed. Should this occur, the
website will be updated to keep you informed.
At the time this report was issued, the interim crediting rate for
August 2010 for assets supporting the Defined Benefit section
was 3.83% p.a.
6
The Defined Benefit section commenced in UCSuper on 27 February 2004. The
rate of return for the 2004 year has been calculated for 4 months to 30 June 2004.
The 10 year average returns reflect performance for the 6 years and 4 months
since inception.
Uniting Church Superannuation Plan 7

Cultivating your super
UCSuper’s investment approach
UCSuper has an investment policy containing investment
guidelines which determine the boundaries within which the
Plan’s investments can be made.
These investment guidelines are to:
• invest for the benefit of members as permitted by the Trust Deed
and relevant law
• maintain a long term view on investment consistent with the
purpose of Plan benefits
• ensure Plan benefits can be met as they fall due. This may
require some assets to be invested on a shorter term strategy
• appoint and monitor professional investment managers with
appropriate resources dedicated to managing investments within
reliable guidelines
• maintain safe custody of Plan assets.
The investment policy then sets out the investment strategy and
objectives covering how and where the Plan’s assets will be
invested. The policy takes into account that the benefits provided by
UCSuper are a mixture of accumulation, defined benefit and pension
benefits; and the Plan’s investment risk and the diversity and liquidity
of investments that allows for member investment choice.
UCSuper’s investment strategy involves offering Accumulation
account holders a choice of investment options. For each
investment option, and for the assets supporting Defined Benefits,
the Trustee has a more specific investment strategy and objectives.
Refer to the investment strategy applicable to Defined Benefit
assets on this page. A summary of the investment objectives and
strategy for each of the investment options is given on page 9.
Keeping an eye on risk — the Plan’s policy
on derivatives
The Trustee regularly reviews the Plan’s investment performance
against its investment policy and can make changes to the
investment arrangements if necessary.
All investments are made through unit trusts, pooled
superannuation trusts and life policies which are managed by
professional investment managers. The Trustee monitors these
managers closely.
The Trustee does not directly use derivative instruments, however
the investment managers may use derivatives in managing the
pooled trusts in which the Trustee invests. Where this is the case,
the Trustee considers the associated risks and the controls in place
by analysing the investment manager’s Derivative Risk Statements
(DRSs). Regular reporting of the investment managers’ compliance
with their DRSs is received by the Trustee.
Environmental, social and ethical considerations
Decisions to invest in, or realise investments from, the Plan’s
investments are mostly based on key financial and managerial
criteria and the best potential return outcomes for members,
relative to the risk objectives for each investment option. The
Plan’s investments are held through managed funds and the
Trustee considers overall general policies stated within these funds
regarding ethical approaches to investment. In December 2006 the
SRI Growth Option was introduced by the Trustee as a separate,
socially responsible investment option in addition to the existing
four investment strategy options of Conservative, Diversified,
Growth and High Growth. The SRI Growth option includes (a)
equity investment managers which meet socially responsible
criteria, and (b) targets the same asset allocation as the Growth
option. However, for the four other investment strategy options of
Conservative, Diversified, Growth and High Growth, ethical criteria
are not applied to restrict selections of investments.
Investment guidelines for the Defined
Benefit assets
For the Defined Benefit assets, the Trustee has adopted
an investment strategy that is a blend of two of the Plan’s
Accumulation investment options: 75% Growth option and
25% Diversified option. Subsequent cash flows are also
invested in these proportions.
The investment objective for the investment of the Defined
Benefit assets is to achieve a return which, when averaged over
each rolling seven year period, exceeds the rate of inflation, as
measured by the Consumer Price Index, by at least 4.5% p.a. and
with a likelihood of positive annual returns four years out of five
on average. The Trustee reviews the suitability of this investment
objective and the strategy based on advice from the actuary at
actuarial reviews.
Accumulation and Pension accounts and
member investment choice: investment basics
The cardinal rules for building wealth are choosing a suitable mix
of investments and giving them time to work. Superannuation is
intended to be a long-term savings vehicle that receives favourable
tax treatment compared to other forms of investment. Changing
investment options or super funds in pursuit of short term investment
returns may actually result in substantial losses rather than gains
to your savings plan. The Trustee’s investment strategy includes
providing a limited range of investment options to allow members
with Accumulation and Pension accounts to select one or more
options to suit their particular risk and return preferences. The
options offered by the Trustee comprise differing benchmark
allocations to the various asset classes.
The Trustee selects the specialist manager(s) responsible for
the investment of assets in each asset class. The Trustee has
determined a default option, the Growth option, to apply where a
member does not select an investment option(s) when joining
the Plan.
Spreading assets and risk
The Trustee invests the Plan’s assets for the long-term, but also
tries to reduce the risk of having lower returns in the short term.
One way to reduce short-term risk is to spread investments over
different types of assets, and using investment managers with
differing investment styles. The asset allocation for each option for
the years to 30 June 2010 and 30 June 2009 are shown on page
9. For each investment option, the underlying asset allocation
is the same for the UCSuper’s Pension section as it is for the
Accumulation section.
8 Uniting Church Superannuation Plan

Your investment options in detail
Option High Growth Growth SRI Growth Diversified 7 Conservative
Objective To achieve a rate of return, after tax and investment fees, that:
Accumulation
section
Exceeds inflation by at least 6% p.a.
over each rolling ten year period
Exceeds inflation by at least 5% p.a.
over each rolling seven year period
Exceeds inflation by at least 4.5% p.a.
over each rolling seven year period
Exceeds inflation by at least 3% p.a.
over each rolling five year period
Exceeds inflation by at least 1.5% p.a.
over each rolling three year period
Pension section Exceeds inflation by at least 7% p.a.
over each rolling ten year period
Exceeds inflation by at least 6% p.a.
over each rolling seven year period
Exceeds inflation by at least 5.5% p.a.
over each rolling seven year period
Exceeds inflation by at least 4% p.a.
over each rolling five year period
Exceeds inflation by at least 2.5% p.a.
over each rolling three year period
Strategy 100% of assets invested in shares –
60% +/- 10% in Australian shares and
40% +/- 10% invested in overseas shares
80% +/- 10% of assets invested in
shares, property and alternatives 20%
+/- 10% of assets invested in bonds
and cash
80% +/- 10% of assets invested in
shares, property and alternatives 20%
+/- 10% of assets invested in bonds
and cash
60% +/- 10% of assets invested in
shares, property and alternatives 40%
+/- 10% of assets invested in bonds
and cash
20% +/- 10% of assets invested in shares,
property and alternatives 80% +/- 10% of
assets invested in bonds and cash
Level of risk High
Medium to high
Medium to high
Low to medium
Low
Expectation of a
negative return
(on average)
Asset allocation
Once every four years
%
80
70
60
50
40
30
20
10
0
59.5 60.7
Australian Shares
40.5
39.3
Overseas Shares
Once every five years
%
35
30
25
20
15
10
5
0
33.9
34.2
Australian
Shares
10.6
11.3
Cash
9.3
9.6
Property
31.0
29.2
Overseas
shares
10.2
10.8
Fixed
interest
5.0
4.9
Alternatives
Once every five years
%
40
35
30
25
20
15
10
5
0
30.7
39.1
Australian
Shares
11.8
9.8
Cash
9.6
8.4
Property
31.1
31.2
Overseas
shares
11.4
9.4
Fixed
interest
5.4
2.1
Alternatives
%
Once every seven years
30
25
20
15
10
5
0
29.1
29.2
Australian
Shares
25.5
26.0
Cash
6.3
6.4
Property
20.0
19.0
Overseas
shares
15.1
15.6
Fixed
interest
4.0 3.8
Alternatives
%
Once every twenty years
50
40
30
20
10
0
8.6
8.3
Australian
shares
41.2
41.6
Cash
4.2
Property
4.9
4.2 4.5
Overseas
shares
39.7
40.2
Fixed
interest
1.4
1.2
Alternatives
30 June 2010 30 June 2009
30 June 2010 30 June 2009
30 June 2010 30 June 2009
30 June 2010 30 June 2009
30 June 2010 30 June 2009
7 The Diversified Option, which closely resembles the Plan’s asset allocation before member investment choice was introduced in 1999, has a track record of returns spanning 23 years up to 2010, with three years of negative returns in 2002, 2008 and 2009.
This matches the risk expectation for the Diversified Option of one negative return in every seven years. It is important to note that past performance is not necessarily an indicator of future performance.
Uniting Church Superannuation Plan 9

UCSuper’s harvest
Where your money is invested
Investments – what’s changed this year
Over the year, the Trustee has continued to review, and make
changes to the Plan’s investments.
Four new investment portfolios were added and three were removed.
The following table shows the investment managers and the
percentage of total Plan assets they managed at 30 June 2010
and 30 June 2009.
Please note, investments held with Blackrock Investment Funds
were formerly called Barclays Investments in 2008/09 and have
changed in name only due to a takeover during the year.
Investment funds 2010
%
Australian shares
2009
%
Ausbil Australian Active Equity Fund 4.9 4.9
BT Wholesale Ethical Share Fund 0.4 0.4
Cooper Investors Australian Equity Fund 9.9 8.8
Orbis Australian Equities Fund 4.5 5.2
Schroder Australian Equities Fund 6.6 6.3
Tyndall Australian Shares Wholesale Portfolio 6.1 6.1
Overseas shares
Alliance Bernstein Global Style Blend Equities Trust 0.0 6.9
Ausbil Investment Trust – Dexia Sustainable Global Equity 0.4 0.4
Blackrock Investment Fund International Alpha Equity Fund 6.5 9.8
Blackrock Investment Fund Hedged International Alpha
Equity Fund
0.0 0.8
Colonial First State Sustainable Emerging Markets Fund 3.8 3.4
Genesis Emerging Markets Trust 1.7 1.5
MFS Global Equity Trust 6.8 0.0
Schroder Global Active Value Fund 2.8 0.0
Zurich Investments Unhedged Global Thematic Share Fund 2.6 0.0
Property
AMP Diversified Property Trust 5.6 5.9
Charter Hall Opportunistic Fund No. 5 0.8 0.5
Alternatives
BNY Mellon Global Alpha Trust 0.0 1.2
GMO Systematic Global Macro Trust 2.2 2.2
Macquarie Professional Series – Winton Global Alpha Fund 1.4 0.0
Fixed interest
AMP Structured High Yield Fund 5.0 6.4
QIC Diversified Fixed Interest Fund 8.5 8.4
The Super Loans Trust (Members Equity) 0.2 0.2
Cash
BT Institutional Enhanced Cash Fund 19.3 20.7
Financial summary
This is a summary of the Plan’s unaudited accounts for the year ended
30 June 2010, compared to the accounts for 30 June 2009. The full
audited accounts will be available for inspection on request from 31
October 2010. Contact UCSuper during office hours if you would like
a copy.
Change in financial position
2010
$
2009
$
Net assets at 30 June 264,453,952 281,612,705
Plus income
Investment earnings 30,331,337 (23,408,263)
Member contributions 4,818,441 4,845,346
Employer contributions 29,465,457 29,483,987
Transfers from other plans 3,660,064 3,145,747
Insurance proceeds 1,572,668 2,022,521
Total 69,847,967 16,089,338
Less expenses
Benefit payments 26,433,914 27,948,575
Insurance costs 3,084,894 2,748,635
Tax expense 5,927,191 915,913
Surcharge tax payments 895 1,192
General administration expenses 1,637,503 1,633,776
Total 37,084,397 33,248,091
Equals net assets at year end 297,217,522 264,453,952
Statement of financial position
at 30 June
2010
$
2009
$
Investments 287,093,670 248,220,771
Assets
Other assets 8,963,842 13,996,294
Cash 3,480,158 3,331,455
Total assets 299,537,670 265,548,520
Liabilities
Taxes payable 1,842,940 880,129
Other liabilities 477,208 214,439
Total liabilities 2,320,148 1,094,568
Equals net assets at year end 297,217,522 264,453,952
Represented by
Allocated to members 294,647,802 262,031,720
Contributions receivable for June
(net of tax)
Assets backing defined benefit
liabilities
869,877 642,846
1,322,260 1,340,834
Administration Reserve 377,583 438,551
100 100
10 Uniting Church Superannuation Plan

Fees and costs
Costs are carefully managed
The costs of running the Plan are managed carefully. The Trustee negotiates with service providers to ensure fees to members are kept as
low as possible. There are no fees on contributions and no fees are payable from the Plan to personal financial advisers. Fees are applied
equitably to all members and management costs charged to individual members are not negotiable.
Fees and other costs
This section shows fees and other costs that you may be charged. These fees and costs may be deducted from your account balance, from
the returns on your investment or from the Plan’s assets as a whole.
Tax details are set out in the Tax and Super section of the Accumulation PDS (SPDS updated August 2009) and of the Pension Section PDS
(SPDS updated November 2009).
Insurance costs are set out in the Death and Disability Insurance section of the Accumulation PDS (refer to the SPDS updated August 2009)
which is on the website: www.ucsuper.com.au
You should read all the information about fees and costs because it is important to understand their impact on your investment.
Fees and costs for particular investment options are set out on page 12.
Defined benefit members
If you are a Defined Benefit member, you don’t pay administration, withdrawal fees or insurance premiums. These costs are paid by your
employer. If you have an Accumulation account, you are charged the asset-based fees that apply to your investment option and any switching
fees that may apply if you change your choice. These fees are shown on page 12. Family law fees may be charged where applicable.
Type of fee or cost Accumulation section Pension section
Fees when your money
moves in or out of the Plan
Establishment fee:
The fee to open your
investment
Contribution fee:
The fee on each amount
contributed to your
investment — either by
you or your employer.
Withdrawal fee:
The fee on each amount you
take out of your investment.
Termination fee:
The fee to close
your investment
Amount How and when paid Amount How and when paid
Nil Not applicable $350 Deducted from your
account on the day your
pension commences.
Nil Not applicable Nil Not applicable
$65 Deducted from your account
each time a withdrawal is
made from your account
or each time a contribution
split is made. When member
protection applies, the fee
may be partly or fully rebated.
$8 per pension payment
$65 per lump sum
commutation payment
Nil Not applicable Nil Not applicable
Management costs
The fees and costs for managing your investment. The amount you pay for specific investment options is shown below.
Management costs
$1 per week plus a
percentage of your account
balance ranging from 0.84%
to 1.27% p.a. (estimated
based on the 2009/10 year).
The weekly member fee
is deducted from your
account weekly.
$1 per week plus a
percentage of your account
balance ranging from 0.84%
to 1.27% p.a. (estimated
based on the 2009/10 year).
Deducted from your account
each time a withdrawal is
made from your account or
each time a payment or lump
sum commutation payment
is made.
The weekly member fee
is deducted from your
account weekly.
Investment management fee
For the 2009/10 financial
year, the figure ranged from
0.44% p.a. to 0.87% p.a.
of your account balance,
depending on your investment
option and includes
performance fees.
This fee is calculated as a
percentage of your account
balance. It is deducted from
investment returns before
the monthly crediting rates
are set.
For the 2009/10 financial year,
the figure ranged from 0.44%
p.a. to 0.87% p.a. of your
account balance, depending
on your investment option and
includes performance fees.
This fee is calculated as a
percentage of your account
balance. It is deducted from
investment returns before
the monthly crediting rates
are set.
Uniting Church Superannuation Plan 11

Type of fee or cost Accumulation section Pension section
Service fees
Investment switching fee:
The fee for changing
investment options
Family Law fees
Application for information —
in the format specified under
the Family Law Act
Amount How and when paid Amount How and when paid
One free switch per year.
Subsequent switches
within 12 months of the
previous switch:
$35 per switch
Deducted from the account
balance at the time of
the switch.
One free switch per year.
Subsequent switches
within 12 months of the
previous switch:
$35 per switch
Deducted from the
account balance at the
time of the switch.
Nil Not applicable Nil Not applicable
Splitting a benefit $450 Shared equally by both
parties and will be deducted
from each party’s benefit at
the time the benefit is split
unless all of the benefit is
going to the non member
spouse (in which case the
non member spouse pays all
of the fee).
$450 Shared equally by both
parties and will be deducted
from each party’s benefit at
the time the benefit is split
unless all of the benefit is
going to the non member
spouse (in which case the
non member spouse pays all
of the fee).
Management costs
Investment option
Investment management fee
(%)
Administration fee
(%)
Estimated performance fee
(%)
Total management cost
(%)
High Growth 0.71 0.4 0.14 1.25
Growth 0.64 0.4 0.13 1.17
SRI Growth 0.82 0.4 0.05 1.27
Diversified 0.54 0.4 0.11 1.05
Conservative 0.41 0.4 0.03 0.84
Note that the investment management fee and performance fee stated for each option above are estimates based on the 2009/10 financial
year. The investment management fee and performance fee may change each year and vary for each investment option.
The amount of administration fee debited from members’ Accumulation accounts is set by the Trustee each year after determining the total
operating costs of the Plan less the costs already recovered from members’ accounts (e.g. weekly administration fees) and any amounts
funded from the Plan’s Administration Reserve. Although a 0.4% p.a. administration fee is currently deducted from the monthly crediting
rates, an adjustment may be made at the end of each financial year to return any excess administration fee back to continuing members
through the interest crediting rates for the month of June. For the year ended 30 June 2010 there was no end of year adjustment, so the
administration fee was 0.4% p.a.
12 Uniting Church Superannuation Plan

Example of annual fees and costs for the UCSuper Growth option
The tables below give examples of how the fees and costs in the UCSuper Growth investment option can affect your superannuation
investment over a one year period. You should use these tables to help compare this product with other superannuation products.
Example – the UCSuper
Growth investment option
Contribution
fees
Plus
Management
costs
Nil
Accumulation section example
1.17% costs
+ $52
($1 per week)
Balance of $50,000 with total
contributions of $5,000 during year.
For every $5,000 you put in, you will
be charged nil.
$52 in administration fees regardless
of your balance, and, for every
$50,000 you have in the Plan you will
be charged $585 each year.
Example – the UCSuper
Growth investment option
Pension section example
Balance of $50,000 with total pension
payments of $5,000 during the year
(assume quarterly payments)
Contribution fees Nil For every $50,000 you invest, you will
be charged nil.
Plus
Withdrawal
fees
$32 For every pension payment you
receive, you will be charged $8.
Equals Cost
of fund
$637 If you put in $5,000 during a year
and your balance was $50,000, then
for that year you will be charged
fees of:
Plus
Management
costs
1.17% +
$52
$52 in administration fees regardless
of your balance, and, for every
$50,000 you have in the Plan you will
be charged $585 each year.
$637 8
What it costs you will depend on
the investment option you choose
and how much is in your account.
Equals Cost
of fund
$669 If you invest $50,000 in a pension
and draw pension payments totalling
$5,000 during the year, then for that
year you will be charged fees of:
Worked example
Jane is an Accumulation section member who has an amount of $50,000 invested in the Growth investment option.
$669 8
What it costs you will depend on the
investment option you choose and
frequency of pension payments and
how much is in your account.
For simplicity we have assumed no contributions were paid into Jane’s account during the year and outperformance by investment
managers incurred performance fees as shown above.
Jane’s estimated total management costs will consist of:
1. A member fee of $52 per year, plus
2. An investment management fee of 0.64% per year of her super account balance, amounting to $320 per year, plus
3. A performance fee of 0.13% per year of her super account balance, amounting to $65 per year, plus
4. An administration fee of 0.4% per year of her super account balance, amounting to $200 per year.
5. So, Jane pays a total investment management cost of $637 per year on her super account balance.
8
Additional fees may apply. If you are an Accumulation or Pension member and you leave UCSuper, you will also be charged a withdrawal fee of $65.
The Management costs which apply to the other investment options available are set out in the relevant PDS documents.
Uniting Church Superannuation Plan 13

Performance based fees
Some of the Plan’s investment managers can earn additional fees, called performance based fees (PBF), if their investment returns are
above an agreed target rate of return. Where managers are appointed with PBF, the scales of additional fees are disclosed in advance by the
manager to the Trustee.
The target rate is based on the benchmark return for that asset class and investment manager. The investment manager will only receive a
performance fee where their return for the year is above the targeted return. There is no guarantee that the investment manager will earn a
performance fee in any given year.
As required by law, the estimated performance based fees are based on actual performance fees payable to managers for the financial year
to 30 June 2010. When a manager has been appointed on a performance fee basis, the PBF depends on whether, and by how much, the
manager has outperformed the agreed target. Therefore, the PBF cannot be determined in advance. Where the Trustee has engaged an
investment manager on a PBF arrangement, a provision for the PBF will be included in the investment management fee of the relevant
investment option, and be passed on to members by way of an adjustment to the declared earning rate. The provision for the PBF is
reconciled against the actual PBF on an annual basis and any material changes from estimated performance fee will be advised through PDS
amendments and as required by law.
The performance fees charged by the investment managers that can earn additional fees (as at the date of this annual report) are set out in
the following table:
Investment manager Performance fee basis Relevant benchmark How often is the fee paid 9
Cooper Investors Pty Limited
(Australian shares)
Orbis Investment Management
(Australia) Pty Limited (Australian shares)
GMO Australia Limited (Alternative
investments)
Charter Hall Group (Property investments)
Macquarie Professional Series (Winton)
(Alternative investments)
Introduced 15/12/2009
10% of any excess performance (net of base manager
fees and trust expenses) over the relevant benchmark
20% of any excess performance (net of base manager
fees and trust expenses) over the relevant benchmark
20% of any excess performance (net of base
manager fees) over the relevant benchmark
33.34% of any excess return greater than the Hurdle
Rate on a project basis (net of all project costs)
20.5% of the dollar value of net profit (if any) from
futures trading (less any interest earned on cash
holdings), provided that any carried forward losses
from futures trading have been made up.
S&P/ASX 200
Accumulation Index
S&P/ASX 300
Accumulation Index
UBSA 90 Day Bank
Bill Index
Internal Rate of Return
(IRR) of 13% p.a.
Not relevant
Monthly
Monthly
Six monthly (30 June
and 31 December)
At the realisation of each
completed project
Quarterly
The Trustee may change investment managers from time to time, however the information in the table above is correct as at 30 June 2010.
If any manager is terminated or a new manager appointed that changes the estimated performance fee payable the PDS will be updated
to reflect these changes. If there is material change we will inform you as required by law. For other changes and information about the
investment options you can call the UCSuper office for an update or visit the UCSuper website at www.ucsuper.com.au. The Trustee will
apply a PBF when it anticipates a PBF is payable to an investment manager. Accordingly, PBFs arise when higher returns relative to a
specified target for a particular manager are achieved.
Worked example
Let’s say the benchmark return for an investment manager was 8% p.a. and the basic investment management fee payable to that investment
manager is 0.5%. When the actual return exceeds the benchmark return, 10% of that amount is paid to investment manager. So, if the
actual investment return earned by that investment manager for the Plan for the year is 9% p.a. (100 basis points (i.e. 1%) higher than the
benchmark return of 8% p.a.), then the investment manager is entitled to an additional 0.1% as a performance based fee, resulting in a total
investment management fee of 0.6%.
Fee increases
The Trustee has the right to increase fees at any time. Reasons might include changes in economic conditions or Government regulations,
increases charged by suppliers or a substantial reduction in the size of the Plan. You will receive at least 30 days’ notice of any increase
in fees.
9
For a performance fee to be paid, any underperformance since the last performance fee was paid must first be recovered before any further performance fee can be paid.
14 Uniting Church Superannuation Plan

GST
Fees and costs shown in this section include GST and stamp duty if applicable.
Member protection
Government legislation limits the amount of fees and charges that can be applied to super account balances of less than $1,000. The Trustee
currently applies this requirement by limiting the amount of the member weekly administration fee to the investment return on Accumulation
account balances.
If you have an Accumulation account balance that is affected, an administration fee rebate will appear on your annual benefit statement or
exit statement, to adjust the fees charged, if the investment earnings credited is less than the set weekly member (administration) fees and
withdrawal fee (where applicable). This protection doesn’t apply to insurance premiums or tax on contributions.
For Pension members, member protection does not apply as the Trustee has a policy that your Pension account will be paid out to you when
your account balance falls below $1,500.
As Defined Benefit members don’t pay any administration fees in respect of their defined benefits, protection doesn’t apply to these benefits.
It will however apply to any Accumulation account they might have as referred to above, if their total benefit entitlement from the Plan is less
than $1,000.
Insurance costs
The following insurance costs apply to each category of membership:
Accumulation Retained Benefit Spouse Pension Defined Benefit
You may be entitled to
insurance cover within the
Plan. For more information
on the cost of insurance, go
to the Death and Disability
Insurance section of the
Accumulation PDS (updated
August 2009 10 ) which is
on the website:
www.ucsuper.com.au
You may be entitled to
insurance cover within the
Plan. For more information
on the cost of insurance,
go to your member booklet
or the Death and Disability
Insurance section of the
Accumulation PDS (updated
August 2009) which is
on the website:
www.ucsuper.com.au
Not eligible for insurance
cover.
Not eligible for insurance
cover.
Insurance costs are paid by
your employer.
Your annual benefit statement
For complete information about your UCSuper accounts, your benefit statement includes information about:
• your benefits and account balances; plus
• fees and costs.
Read your benefit statement in conjunction with this annual report which includes additional information about the Plan. If you have any
questions about your benefit statement, please call UCSuper.
10
Ex-WA Synod members whose insured death benefit is based on 7%, 14%, 21% or 28% of future service, should refer to the “Important Notice to Members” issued in May
2009 for details.
Uniting Church Superannuation Plan 15

Tending UCSuper
All Trustee directors are members of UCSuper — just like you
are. So they share the same interest in having this Plan work
well. UCSuper is run by a trustee company — Uniting Church
Superannuation Pty Ltd ABN 91 064 800 531. The rules of
UCSuper are contained in a legal document called the Trust Deed.
Eight directors serve on the board of the Trustee company.
Four directors are appointed by employers and four directors
are member elected representatives.
At 30 June 2010, your Trustee directors were:
Member-elected representatives
Mr I Baster
Ms S Guest*
Ms M McGrath
Mr S Peake
* Effective 1 July 2010, Ms S Guest was replaced as a
Member-elected representative and Mr M J Moore was
elected to fill the position.
Employer-appointed representatives
Mr B A Binnie
Mr G Horrocks
Mr R D Petie
Mr M G M Petrie
During the year, Tana Brink has acted as alternate director for
periods of absence of Trustee directors.
Plan committees
Some Plan issues need to be addressed quickly, outside the
regular Trustee meetings. The Trustee has set up the following
committees to help manage UCSuper and to deal with issues as
and when they arise:
• Investment committee
• Administration and Compliance committee
• Promotions committee.
The members of these committees are Trustee directors and
the General Manager of UCSuper. In addition, the UCSuper
administration team assists with benefit claims and entitlements.
You can contact them at the address shown on the back page of
this report.
Super can be confusing. The fact that our members
can ask UCSuper staff questions they have about
their super makes a difference.
By taking time to give personal service, UCSuper
can help you to get your super right.
Insuring the Trustee
The Trustee has arranged indemnity insurance with Chubb
Insurance Company of Australia Ltd to cover the Trustee and
directors against the financial effects of any honest mistake that
may happen while administering the Plan.
Special tax treatment
Super is one of the most effective ways to save because it is taxed
at a lower rate than many other forms of income. To get this tax
advantage, the Plan must operate according to a strict set of laws.
To show that the Plan has followed these laws, the Trustee lodges a
return each year with the Australian Prudential Regulation Authority.
The Trustee is unaware of any event that occurred during the year
that would affect this special tax treatment.
The Plan is a regulated complying superannuation fund for the
purposes of government legislation. No penalties were imposed
on the Trustee under the Superannuation Industry (Supervision) or
Corporations legislation during the year.
Superannuation surcharge
The Government removed the superannuation surcharge with
effect from 1 July 2005. However, the ATO will continue to issue
surcharge assessments in respect of prior years.
If UCSuper is required to pay surcharge in respect to your
contributions, the surcharge payable will be deducted from your
account in the Plan. If you roll over benefits into UCSuper from
another super fund or from your employer, any liability to pay
the surcharge for contributions made to that other fund that has
not been paid or in respect to the employer payment may be
transferred to the Plan.
If UCSuper receives a surcharge assessment after you have left
the Plan, we will return it to the ATO. The ATO will either forward it
to the superannuation fund to which your benefit was paid or to you
if your benefit was paid directly to you.
Protecting your privacy
In order to provide you with superannuation benefits, including
death and disability benefits, and to properly manage the Plan,
UCSuper holds personal information about you.
This information identifies you as a member and typically includes
your name, address, date of birth, gender, occupation, salary, tax
file number and any other information that is required. UCSuper
generally collects this information from either you or your employer.
Your personal information may be disclosed to UCSuper’s
administrator and professional advisers, insurers, government
bodies, your employer and other parties as required and permitted
by law, including the trustee of any other fund you may transfer
to. By becoming a member of UCSuper, it is assumed that you
consent to this handling of your personal information. If you do not
provide UCSuper with your personal information, we may not be
able to provide all of your benefits.
Only you, or your authorised representative, can access your
personal information held by UCSuper. Should any of your
personal information be incorrect, you have the opportunity to
correct it. There are, however, some circumstances where you may
be denied access to your information. UCSuper’s Privacy Officer
will advise if any of these circumstances apply.
UCSuper abides by the National Privacy Principles under the
Privacy Act 1988 (Cth) and has adopted a Privacy Policy which
sets out in more detail the way in which it handles members’
personal information. If you would like a copy of the Plan’s Privacy
Policy please contact UCSuper’s Privacy Officer, Neil Kent, on
(07) 3874 8333.
16 Uniting Church Superannuation Plan

When you can harvest
your super crop
Specialist advisers
The Trustee has appointed the following advisers to help run the Plan:
Administrator
The Uniting Church Queensland Synod provides administration
services through UCSuper Administration in association with
Mercer (Australia) Pty Ltd
Superannuation and Communications consultant
Mercer (Australia) Pty Ltd 11
Investment consulting
Mercer (Australia) Pty Ltd
Investment managers
AMP Capital Investors
Ausbil Dexia Limited
Blackrock Global Investors
BNP Paribas Investment Partners (Australia) Ltd –
Massachusetts Financial Services
BT Financial Group
Charter Hall Group
Colonial First State Global Asset Management
Cooper Investors Pty Limited
Genesis
GMO Australia Limited
Macquarie Investment Management Ltd – Winton Capital
Management Ltd
Members Equity Portfolio Management
Orbis Investment Management (Australia) Pty Limited
Queensland Investment Corporation
Schroder Investment Management Australia Ltd
Tyndall Investment Management
Zurich Investment Management Limited
Insurers
Chubb Insurance Company of Australia Ltd
(Trustee indemnity insurance)
IUS (Member death and disability insurance)
American Home Assurance Co
(Trustee personal accident insurance)
Auditor
Ernst and Young
Banker
National Australia Bank Ltd
Solicitors
Mercer Legal Pty Ltd
McCullough Robertson
11
Mercer (Australia) Pty Ltd is part of the Marsh McLennan Group of companies.
12
Any unrestricted non-preserved amounts that form part of your super benefit are
accessible in cash at any time.
13
As specified under superannuation law and permitted under the Trust Deed.
Preservation
Government legislation is designed to make sure that your super money is
generally used only for retirement and, consequently, there are restrictions
on when you can access your benefit. Your benefit may be made up of:
• an unrestricted non-preserved amount 12
• a preserved amount
• a restricted non-preserved amount.
Preserved amounts of over $200 are only accessible in cash if you satisfy
one of the conditions of release permitted under superannuation law as
shown below:
• you reach age 65
• you are aged 60 to 64 and you had, prior to reaching age 60, ceased
an arrangement under which you were gainfully employed and you
never intend to become gainfully employed again for 10 or more hours
each week
• you cease an arrangement under which you were gainfully employed on
or after attaining age 60
• you permanently retire from work on or after your preservation age (see
table below)
• you have attained preservation age and can access a Transition to
Retirement Pension
• you die or become totally and permanently disabled or terminally ill 13
• you receive approval for release of your benefit on financial hardship or
other specified grounds 13
• you leave Australia permanently to return overseas (applies to certain
temporary residents).
All contributions, including your employer’s and any you have made, and
investment earnings since 1 July 1999 must be preserved. Most employer
contributions and investment earnings on such employer contributions
before that date, must also be preserved.
The law requires that preserved super stays invested in an ‘approved
superannuation arrangement’. This could include UCSuper, another
employer’s fund, a personal super fund, a rollover fund or a retirement
savings account.
Your preservation age
Your preservation age (i.e. the age at which your preserved super can
be paid to you in cash if you permanently leave work) depends on your
date of birth.
Date of birth
Preservation age
Before 1 July 1960 55
Between 1 July 1960 and 30 June 1961 56
Between 1 July 1961 and 30 June 1962 57
Between 1 July 1962 and 30 June 1963 58
Between 1 July 1963 and 30 June 1964 59
After 30 June 1964 60
Rollovers and preservation
You can transfer — or roll over — your benefits from other super funds
into UCSuper. Keeping your super in the one fund means you can
easily keep track of it, and it could mean you save on fees.
If your rollover money was preserved in your previous fund, it will
continue to be preserved if you roll it over into this Plan. If your rollover
money was not preserved in your previous fund, it will also not be
preserved if you roll it over into UCSuper.
Any ‘unrestricted non-preserved’ monies, currently held in another
fund, if transferred into your UCSuper account, will remain classified as
‘unrestricted non-preserved’.
Uniting Church Superannuation Plan 17

Let UCSuper know
Looking after your benefit
If you are about to leave work, make sure you respond promptly to
letters from the trustee about your benefit payment.
If your account balance is $500 or more and you don’t tell the
Trustee where to pay your super, your account will be transferred
to the Retained Benefits section of UCSuper.
If your account balance is less than $500, and you do not respond to
the Trustee within 30 days of receiving their initial letter, your benefit
may be transferred to an Eligible Rollover Fund (ERF). Upon transfer,
you will no longer be a member or have any rights under UCSuper.
ERFs are designed as holding funds and are required to provide
member protection. As a result, the rate of return in the ERF may
be lower than in another superannuation fund. You should seek
professional financial advice about the best place to roll over your
benefit when you leave service.
The Plan currently uses the following ERF:
Colonial SuperTrace Eligible Rollover Fund
Locked Bag 5429
Parramatta NSW 2124
Telephone: 1300 788 750
Fax: (02) 9947 4184
You can check to see if SuperTrace holds any benefit on your
behalf by accessing their website at: www.supertrace.com.au
Set out below is a summary of some of the more significant
features of the SuperTrace ERF, which is current as at the date
of this Report:
• The assets of the SuperTrace ERF are invested in a life
insurance policy (the SuperTrace Policy) issued to Colonial
Mutual Superannuation Pty Ltd (CMSPL) by Colonial Mutual
Life Assurance Society Limited (CMLA). The SuperTrace Policy
is invested solely in the Colonial Stable Fund in CMLA’s No.2L
Statutory Fund. There is no choice of investment available to
members within SuperTrace.
• The investment objective of SuperTrace is to provide mediumterm
moderate rates of return while aiming to minimise the
occurrence of negative shorter term returns.
• The investment strategy for the assets in the Colonial Stable
Fund is to invest in a range of assets including Australian and
international equities, property, fixed interest securities and cash,
with a heavier weighting towards fixed interest investments.
• Members’ accounts are generally credited with earnings
annually. The crediting rate is derived from the earning rate
of the SuperTrace Policy which is net of tax on investment
earnings, less any asset charge. Earnings can be negative.
• The following fees and charges apply in SuperTrace:
– an asset charge of 1.55% p.a. (net of tax) deducted from the
earnings of the SuperTrace Policy prior to the crediting rate
being declared.
• SuperTrace is unable to accept contributions from members
or their employers, however rollovers from other super funds
are permitted.
• SuperTrace does not provide insurance cover.
• If the Plan has your tax file number we must give it to SuperTrace
unless you specifically request UCSuper not to do so.
• Once your super is transferred to SuperTrace, you will no longer
have any rights under UCSuper and if you have any enquiries,
you will have to deal directly with SuperTrace. Please note that
investment returns earned in SuperTrace may be less than
returns from other funds.
Temporary residents
You should note that if at least six months has passed since your
temporary visa has ceased to have effect, and you have left Australia
and have not claimed your super from UCSuper, the Trustee can
be required to transfer your super to the ATO. You will then need
to contact the ATO to claim your super which will be paid subject
to the deduction of tax 14 . The ATO will provide the trustee with
details of the members whose super must be transferred in these
circumstances. Interest (or investment earnings) is not paid on
amounts paid by the ATO (except in certain circumstances if the
person becomes an Australian citizen or permanent visa holder). The
transfer to the ATO can be required even if you are still employed by
your Australian employer. If your benefit is transferred to the ATO in
these circumstances and you need assistance to prove to the ATO
that you are entitled to that benefit, please contact UCSuper.
In most cases, the Trustee is required to provide a member with
an exit statement when their benefit has been paid out of the Plan.
However, the Australian Securities and Investments Commission has
provided trustees with relief from this requirement where benefits are
paid to the ATO in these circumstances. This relief has been granted
because most temporary residents do not advise the trustee of their
address details after they have left Australia. The Trustee intends to
rely on this relief. This means that the Trustee is not obliged to notify
or give an exit statement to a temporary resident where a benefit has
been transferred to the ATO in these circumstances.
Continuing your insurance
When you leave an employer which participates in UCSuper, for
reasons other than disablement, your insured death, TPD, and SCI
cover will continue automatically until one of the following occurs:
• six months passes after leaving your employer (except for death
cover which continues until you exit the Plan)
• you contact UCSuper (in writing) to cancel your cover
• you reach age 65
• if, for reasons other than ceasing employment, your regular
working hours fall below 15 hours per week over the latest three
month period (except for death cover which continues)
• your salary reduces to less than $11,200 per year (except for
death and tpd cover which continue)
• you withdraw your total account balance from UCSuper
• your account balance is transferred to the ATO
• there are insufficient monies in your account to meet the
insurance premiums. (Cover will not automatically be restored
upon receipt of contributions unless it is notified to us that they
will continue to be received on a regular basis.)
There is no option to continue any of the insured covers under an
individual policy with the insurer.
14
The tax rates that apply to super payments paid to a temporary resident who has left Australia are higher than those which apply to permanent residents or Australian or
New Zealand citizens.
18 Uniting Church Superannuation Plan

If you recommence employment within six months and have
contributions paid into your UCSuper account, you can retain the
existing insured covers subject to eligibility.
WA members whose death benefit is based on a % of future
service, and Defined Benefit members should refer to the ‘Important
Notice to Members’ issued in May 2009 for further details.
Insurance when on authorised unpaid leave
Your insurance cover will continue automatically if you take
authorised unpaid leave from your employer unless the authorised
unpaid leave exceeds 12 months and is not notified to UCSuper
(except for death cover which continues).
Keep your nominations up-to-date
Your nomination of preferred dependants is important. It lets the
Trustee know who you’d like your death benefit paid to if you die
while you are a member of the Plan.
Your nomination is not binding on the Trustee, but the Trustee will
take your wishes into account in any decision it makes.
You should have filled in a nomination of beneficiaries form when
you joined the Plan. Make sure you fill in another form if your
circumstances have changed since then — for example if you have
married, divorced or had a child.
For more information, or to change your nomination, login to the
website and update your nomination online (not available to pension
members), or contact UCSuper or download a nomination of
beneficiaries form from the website — www.ucsuper.com.au.
Amendments to the Plan’s Trust Deed
There were no changes to the Trust Deed during the year.
Want to know more
You can contact UCSuper if you want more information about the
Plan or your benefits, or you’d like to inspect the Plan’s documents,
such as:
• the Trust Deed
• the financial statements
• the Plan’s investment policy statement
• the Plan’s Privacy Policy
• details of how Trustee directors are elected and can be removed
• the enquiries and complaints procedure
• the Product Disclosure Statement.
Some of this information is available via our website,
www.ucsuper.com.au
Enquiries and complaints
We’re here to help, so if you have any questions about the Plan
or your benefits, contact a member of the UCSuper team on
(07) 3874 8333 or 1800 811 145 from outside the Brisbane area.
In most cases, your questions will be answered over the phone.
If you are not satisfied with the answer you receive, or if you want
to make a complaint, you should contact the Complaints Officer
who will pass the matter onto the Trustee. You can expect a
decision within 90 days.
If you are not satisfied with the outcome, you may be able to take
your complaint to the Superannuation Complaints Tribunal (SCT).
The SCT is an independent body set up by the federal government
to help members or their beneficiaries resolve superannuation
complaints. You must lodge your complaint with the Tribunal within
certain time limits. If the Tribunal accepts your complaint, it will try to
help you and the Plan reach a mutual agreement through conciliation.
If conciliation is unsuccessful, the complaint will be referred to the
Tribunal for a determination that is binding. You can contact the
Superannuation Complaints Tribunal by phoning 1300 884 114.
Take time to check your annual statement of benefits and
contact UCSuper immediately to correct any errors.
Your UCSuper contacts are:
Mr Neil Kent
General Manager
Mrs Tana Brink
Complaints Officer
UCSuper
GPO Box 674
Brisbane QLD 4001
Phone (07) 3874 8333
or 1800 811 145 for outside Brisbane area
Fax (07) 3874 8311
Email ucsuper@ucaqld.com.au
Web www.ucsuper.com.au
Disclaimer
This annual report has been prepared by the Trustee to meet its legislative obligations
under the Corporations Act. Any advice contained in this annual report does not take
account of the specific needs, personal or financial circumstances of any persons.
Readers should obtain financial product advice from a licensed financial adviser before
making any changes to their own superannuation arrangements or investments based
on the information contained in this report.
The terms of your membership in the Plan are set out in the Plan’s Trust Deed, and
should there be any inconsistency between this annual report and the Plan’s Trust
Deed, the terms of the Plan’s Trust Deed prevail. While all due care has been taken in
the preparation of this report, the Trustee reserves its right to correct any errors and
omissions and is not liable for unintentional errors or omissions made.
All statements of law or matters affecting superannuation policy are up-to-date as at
the date of this Annual Report.
This document contains general information about investments and investment
performance. Please remember that past performance is not necessarily a guide to
future performance.
Trustee: Uniting Church Superannuation Pty Limited
(ABN 91 064 800 531)
GPO Box 674
Brisbane QLD 4001
Telephone: (07) 3874 8333
Outside Brisbane: 1800 811 145
Fax: (07) 3874 8311
Website: www.ucsuper.com.au
For and on behalf of the Trustee, Uniting Church Superannuation Pty
Ltd ABN 91 064 800 531, AFS Licence number 238518 as Trustee
of the Uniting Church Superannuation Plan ABN 47 915 814 386
Uniting Church Superannuation Plan 19

20 Uniting Church Superannuation Plan