RBF Member News - SuperFacts.com

RBF Member News
Retirement Benefits Fund
RBF Member News
December 2010
In this edition
Holiday office hours
New Year – New RBF
Market update

2 RBF Member News December 2010
Inside
this issue
2
3
4
5
6
7
8
From the CEO
What do you think
Financial literacy seminars
Changes to your RBF Board
Fundamentals
New website
New year – New RBF
Who is your beneficiary
Member profile
SuperNews
Have your circumstances
changed
Market update
Investment returns
Investment returns (continued)
Holiday office hours
Contacting RBF
What do
you think
RBF undertakes market research to
help improve our services to you. Our
recent measurements indicate that in
the area of member advocacy, RBF
meets the average national standard.
If you have feedback to help RBF
improve further, please contact us
by emailing super@rbf.com.au,
or phoning 1800 622 631.
On the cover
Rob (Sergeant), RBF member
From the CEO
Welcome to the December edition
of RBF ‘Member News’.
Accompanying this issue of ‘Member
News’ is a letter to members from
the RBF President, Damian Egan
in which he outlines the important
development phase that RBF is now
experiencing. I encourage you to read
it and the information contained in this
issue of the newsletter to help keep
you informed.
I joined RBF as Chief Executive
Officer a few weeks before the
Board’s decision that the transition to
Mercer (Australia) Pty Ltd of member
administration, member contact and
some communications functions
would be completed by June 2011.
Since then, achieving the Board’s
timetable for this transition has been,
and will continue to be one of my
highest priorities.
RBF employees have been aware
for some time that outsourcing
the administration platform was
the preferred solution to the
considerations being undertaken
regarding RBF systems. Earlier this
year, employees were advised of the
degree of job losses at RBF, their
individual status, their entitlements and
the support that is available to them
through this transition. I am pleased to
say that affected RBF employees have
responded exceptionally well to this
situation and most have committed
to stay with RBF until the transition to
Mercer in order to maintain business
as usual services to our members.
Mercer has also indicated that it
may employ some ex-RBF staff with
experience of our schemes in its
Hobart office after the transition is
completed. RBF employees are being
encouraged to consider this option
to allow some of our accumulated
expertise to be utilised by Mercer.
I am confident that after the
transition to Mercer, our members
should experience no reduction in the
quality of the service provided and
will experience an improvement.
But importantly, this change is taking
place to ensure that in the future, the
risk of system failure resulting in an
inability to undertake transactions, or
loss or corruption of member data,
or inability to change our systems
to meet Commonwealth legislative
changes, will be greatly reduced.
RBF will ensure that potential
concerns about service standards
and quality assurance, especially as
they relate to the Mercer call centre,
are resolved. Our commitment and
values around member service will
not be compromised.
RBF members can also look
forward with confidence to the new
sophisticated processing system called
MercerSpectrum. This will be used by
employer agencies and will deliver a
significant improvement to turn around
times and efficiency with respect to
information provided by agencies to
RBF. For members, this will mean faster
processing of benefit payments.
My best wishes for the festive
season and may you and your
family enjoy a wonderful and
safe holiday period.
Philip Mussared
Chief Executive Officer

RBF Member News December 2010 3
Financial Literacy seminars
Fundamentals
Louise Pybus, one of RBF’s Business
Relationship Officers recently hosted
three Financial Literacy seminars for
Australian Nursing Federation (ANF)
members, in Devonport, Hobart and
Launceston. The evening seminars
provided ANF members with the
opportunity to learn about important
topics such as investment choices and
the increasing cost of living.
A representative of the Public Trustee
attended the sessions as Louise’s
guest, and presented information to
members about Wills, Estates, and
Enduring Powers of Attorney.
Members were given the opportunity
to have an informal chat with Louise
after the sessions.
Do you work in health or human
services If you would like Louise
to run a seminar at your workplace,
contact her on (03) 6336 4416 or
louise.pybus@rbf.com.au
Changes to your RBF Board
RBF would like to thank Andrea
Schiwy who was a member of the
RBF Board from 13 September 2004
until 31 October 2010. Andrea was the
Deputy President of the Board and a
Nominee of the Minister.
New website
The new-look RBF public website was
launched in September. If you have
any queries or comments on the site,
please use the link on the “Contact us”
page under “About RBF” to email us.
The secure section of the website will
also be redesigned in the near future.
This is what you see when you log in
to view your account details.
If you have any comments or
suggestions on what you would
Jamie (Registered Nurse),
RBF member and Louise Pybus,
RBF Business Relationship Officer
take a look at some of Jamie’s
investment options.
We would also like to welcome Don
Challen to the RBF Board. Don has
been appointed as a Member and
Deputy President of the RBF Board
with effect from 1 November 2010
until 31 October 2013.
like to see changed to improve your
user experience, please email
super@rbf.com.au, and put
“secure site” in the subject heading.
Thinking about
leaving the
public sector
Here are a
few things to
consider…
Changing
employment can
be very stressful.
However, today
it is becoming
more common
to hold a number
of positions over
your lifetime.
Tony Hart,
RBF Financial
Planner
If you are thinking of accepting a
position outside of the Tasmanian
public sector, you will be facing some
major considerations in relation to your
superannuation that you might not be
aware of.
For example, if you are a member of
the RBF Contributory Scheme who
joined RBF prior to 1 July 1994, your
pension conversion factor will be
reassessed if you choose to leave the
public sector prior to your preservation
age. The result could be a less
favourable retirement income.
As a RBF member, you automatically
receive personal insurance in most
situations. Upon resigning, or ceasing
to use RBF as your superannuation
provider, your Death and Incapacity
Cover will cease on your last day of
membership.
RBF Financial Planning offers full advice
to all RBF members and their partners.
Our Financial Planners are able to
help you achieve all of your financial
goals and objectives, not just provide
superannuation advice. We can also
make you aware of any risks you may be
facing, or opportunities available to you.
Book an appointment with one of
our Financial Planners by calling
1800 622 631.
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.

4 RBF Member News December 2010
New Year –
New RBF
The Retirement Benefits Fund (RBF) has
a proud history of serving Tasmanian
public sector employees with retirement
planning and superannuation. RBF
provides wealth creation services to
more than 75,000 Tasmanian public
sector employees and their partners
through the administration of a
number of superannuation schemes
and retirement income products.
The Retirement Benefits Fund Board
(the Board) manages $3.6 billion in
investments by engaging 28 specialist
investment managers.
In its forward planning and governance
role, the RBF Board is aiming to achieve
sustainable value to RBF members and
stakeholders, effective risk management
and efficiency through infrastructure
and systems.
A key factor for the Board has been
RBF’s ageing administration systems.
At the same time, RBF is seeking to
improve its long term competitiveness.
So, it was with risk minimisation
foremost in the Board’s thinking,
that in April of this year, the Board
took the decision to appoint Mercer
(Australia) Pty Ltd to manage member
administration, member contact and
some related communications, with
transition of these functions to Mercer to
be finalised by 30 June 2011.
Who is Mercer
RBF chose to outsource to Mercer
(Australia) Pty Ltd because it is the
largest defined benefit administrator in
Australia and a global leader of trusted
human resources and related financial
advice, products and services. Our
members can have confidence that
RBF’s administration platform will be
provided by the most experienced
platform administrator in Australia.
Will there be a difference in
the letters and brochures that
I receive
Information such as letters, forms and
brochures will continue to be sent
to members using RBF branding so
they can be easily recognised as RBF
communications.
Can I still come in to speak
to a staff member
Face-to-face meetings with
Superannuation Consultants and
Financial Planners will continue to
be available to members in Hobart,
Launceston and around Tasmania.
What will happen to RBF’s
workplace service
The move to outsource our
administration will not affect the RBF
Business Relationship Officers. Based
in Hobart and Launceston, they will
continue to deliver services at your
workplace such as individual meetings
and group presentations and will
continue to assist with your queries.
Will the RBF head office stay at
39 Sandy Bay Road
RBF owns the building at 39 Sandy
Bay Road and we have no plans to
move. However, accommodation
arrangements in both Hobart and
Launceston will be assessed in the best
interests of members between now and
the end of the financial year.
Can I continue to contact RBF
in the same way
The Mercer call centre in Melbourne
will provide telephone support to
RBF members about their accounts.
Operators will be trained in RBF
schemes and will have access to
state-of-the-art Information Technology
support to respond quickly and
accurately to member queries about
their accounts.
The RBF postal address will not change.
Will anyone at RBF lose
their jobs as a result of the
outsourcing
Yes, some employees will be made
redundant. Employees were advised
of job losses at RBF earlier this year
but we are pleased to say that most
have committed to stay with RBF until
the transition to Mercer in order to
maintain business as usual services
to our members. There may also be
opportunities for RBF employees in a
Mercer Hobart office after the transition
is completed.
Who will be running RBF
RBF is, and will continue to be governed
by a Tasmanian Board of Trustees,
responsible for administering the fund
in the best interests of members and in
accordance with the relevant legislation.
The Board consists of seven people,
two elected by the members of RBF,
three nominated by the Tasmanian
Government, one nominated by Unions
Tasmania and the President, who is
nominated by the Government with the
agreement of Unions Tasmania.
When will the switch to Mercer
take place
The transition to Mercer will begin in
early May 2011 and be completed by
30 June 2011.
Who do I call if I would like
more information
Call RBF on 1800 622 631
Who is your beneficiary
If you die before you retire your Death Benefit will be paid to
your surviving partner or registered carer, unless you have
registered a valid election with RBF to have all or part of your
benefit paid to your estate.
Therefore, it is extremely important to register any changes in
your relationship status with RBF.
For more information, or to make an election, download
the ‘Who will receive my RBF Death Benefit’ brochure
from www.rbf.com.au
If your relationship status has changed, call us on
1800 622 631 or download the ‘Personal details
change form’ from www.rbf.com.au

RBF Member News December 2010 5
Building relationships
from the beginning
Member profile
Emily is a grade two teacher at
Lansdowne Crescent Primary School.
Emily was born in Hobart, but as a
child she spent time on the North West
coast of Tasmania, before returning to
Hobart to continue her education.
Before joining RBF two years ago,
Emily hadn’t heard much about
superannuation. She had contributed
small amounts to another fund whilst
working part time throughout her
studies, but because she was young,
Emily never really considered her
superannuation as an important issue.
“When I was thinking about joining
RBF, I spoke with colleagues, friends
and family, and everyone said that
RBF is a trustworthy fund,” Emily said.
“A member of my family even said
that they wished they were a RBF
member because of how the fund
has performed over recent years in
comparison to other funds.”
“That really helped me to make
my decision, and I haven’t been
disappointed,” she said.
Part of the personal service that Emily
has received as a member of RBF has
included a visit to her workplace by
Phil Claxton, one of RBF’s Business
Relationship Officers.
“Before Phil came to my school I knew
my money was going somewhere, but
I didn’t really think about it. No other
company has actually spoken to me,
no one else has visited my workplace.
Your super provider is like a bank.
You’ve got to trust who’s looking after
your money,” she said.
As a young person Emily hadn’t
considered that extra contributions
were really applicable to her. After Phil’s
presentation, Emily realised that the
cost of living is increasing dramatically.
“By the time I’m retired, I’ll need that
money more than ever,” she said.
“Phil spoke to me about salary
sacrificing and he worked with me
until we found a point where I broke
even with my take home pay. I thought,
what’s the harm”
“We don’t get taught about
superannuation at school, so generally
young people are unaware of the
need for it. Thankfully I have had
people looking out for me so I have
that peace of mind.”
Since speaking to Phil, Emily has
made an appointment to speak to
one of RBF’s Superannuation
Consultants to make sure that her
extra contributions are enough
to ensure her ultimate lifestyle in
retirement.
It is never too early
to think about the
future, and I feel very
assured knowing that
RBF are doing all
that they can
to secure mine.
Emily (Teacher), RBF member
SuperNews
Have your circumstances changed
SuperNews is an electronic quarterly
newsletter that provides up to date
superannuation and market news, as
well as newsflashes about important
events. SuperNews is a free
subscription service offered by RBF.
To subscribe, log in to the secure
Member section of www.rbf.com.au
and click on the subscription link in
the left hand menu.
Did you recently:
marry
start or end a defacto relationship
divorce
change jobs
change your name
All of these circumstances and more
can affect your superannuation.
It is extremely important that you let
us know as soon as possible if any
of your circumstances change. Do not
assume that your employer will pass
on any changes to RBF.
Call us on 1800 622 631 or download
the ‘Personal details change form’
from www.rbf.com.au

6 RBF Member News December 2010
Market update
Macro news drives
market sentiment –
up, down, up!
The September quarter kicked off with
an increase in investor risk appetite.
This was in part driven by strong profit
announcements in the US and better
than expected news on the health of
European banks. But this confidence
soon changed in response to broad
economic concerns following weak
data coming out of the US, particularly
housing starts. In September, these
concerns began to subside following
a strong stand being taken by the US
authorities, and relief that all seemed
well in China.
On the domestic front, good economic
growth data had a positive impact on
market confidence, and the finalisation
of the Australian Federal Election result
provided some stability to previously
uncertain political outcomes. It was a
very strong quarter for the Australian
Dollar, which ended September at US
0.97 cents.
Australian shares returned 8% for
the September quarter despite the
Telecommunications sector down
14% over the quarter, due to the
negative performance of Telstra, which
was impacted by the uncertainty
surrounding the National Broadband
Network. Listed Property Trusts
delivered a solid 4% over the quarter.
Global share markets in local currency
terms ended the quarter up 10%, but
a very strong Australian dollar saw the
returns to Australian investors down 1%.
Interest rates
Interest rates on overseas Government
bonds finished the quarter lower,
following a policy statement from the
Federal Reserve that led investors to
believe that the central bank would
continue to keep interest rates low
– close to zero. In contrast, interest
rates in Australia remained unchanged
due to the relative strength of the
Australian economy. Contrary to
market expectation, the Reserve Bank
of Australia kept cash rates on hold.
Looking forward
As has been the case for many
months, investors appear to react to
short term macro announcements with
little confidence in the longer term.
While sentiment has been positive
of late, concerns remain around the
excessive levels of Government debt,
as well as the problems facing the
US labour and housing markets.
The strong domestic economy has
led to the market expectation of future
interest rate rises by the Reserve Bank.
This, along with rising commodity
prices, continued to support the value
of the Australian Dollar.
In this market, there seems to be a
number of market distortions which
offer opportunities for long term
investors, provided they can ride
the waves of positive and negative
sentiment. This is the strategy that is
adopted by the Board.
Market Performance – September 2010
Performance
(income and capital gain or loss %)
3 months 12 months
Australian Shares (S&P/ASX 300 Accumulation) 8.3 0.7
International Shares (MSCI AC World ex-Aust) -0.4 -0.7
International Shares (MSCI AC World ex-Aust) hedged 10.2 10.4
Unlisted Property 1.3 2.2
Listed Property Trusts 3.8 -4.5
Global Bonds (Barclays Global Aggregate (Hedged)) 3.5 11.0
Australian Bonds (UBS Composite Index) 1.3 7.3
Cash (UBS Bank Bills) 1.2 4.3
Appreciation of $A against $US 14.6 9.7
Market Commentary JANA Investment Advisers Pty Ltd ABN 97006 717 568 and reproduced with kind permission.
Past performance is not a reliable indicator of future performance.

RBF Member News December 2010 7
Our Financial Planner
highlighted options
for our consideration
that otherwise would
not have been part of
our thinking.
John (Retiree) and Robyn (Manager),
RBF members
Investment returns to 31 October 2010
RBF Investment Account and
RBF-TAS SG Account
Member Investment
Choice option
Diversified options:
RBF Long Term
Growth
RBF Actively
Managed (default)
RBF Socially
Responsible
Investments
RBF Moderate
Growth**
RBF Conservative
Growth
Asset class
options:
RBF Australian
Shares
RBF International
Shares
RBF Property &
Alternatives
1 month
%
12 months
%
2009-10*
%
2.11 5.95 11.70
1.62 6.88 9.94
1.28 5.85 11.26
1.16 n/a n/a
0.91 8.01 10.41
2.63 3.75 15.91
2.81 8.35 12.24
0.19 5.68 -0.72
RBF Fixed Interest 0.26 10.36 10.13
RBF Cash 0.34 3.77 3.27
* These figures apply to the financial year ending 30 June 2010.
** This option opened on 18 August 2010.
Past performance is not a reliable indicator of future performance.
RBF Allocated Pension and
RBF Term Allocated Pension
Member Investment
Choice option
Diversified options:
RBF Long Term
Growth
RBF Actively
Managed (default)
RBF Socially
Responsible
Investments
RBF Moderate
Growth**
RBF Conservative
Growth
Asset class
options:
RBF Australian
Shares
RBF International
Shares
RBF Property &
Alternatives
1 month
%
12 months
%
2009-10*
%
2.22 7.86 12.85
1.73 8.18 10.51
1.39 7.02 11.11
1.29 n/a n/a
1.03 9.40 11.09
2.72 6.34 17.86
3.12 9.25 11.49
0.21 6.57 -0.47
RBF Fixed Interest 0.31 12.29 12.01
RBF Cash 0.40 4.45 3.86
* These figures apply to the financial year ending 30 June 2010.
** This option opened on 18 August 2010.
Past performance is not a reliable indicator of future performance.

8 RBF Member News December 2010
Investment returns for closed
options to 31 October 2010
The following investment options were closed to further investments on 18 August 2010
and removed from the list of Member Investment Choices on 5 November 2010. For
more information, see the ‘Important Changes to Member Investment Choice’ article
on the home page of www.rbf.com.au, or refer to your September ‘Member News’.
RBF Investment Account and RBF-TAS SG Account
Member Investment Choice option
1 month
%
12 months
%
2009-10*
%
Diversified options:
RBF Diversified Growth 1.68 7.29 12.63
Manager specific options:
State Street Balanced Index 1.57 6.94 13.83
State Street Australian Shares Index 2.56 5.81 16.16
Maple-Brown Abbott Balanced 1.78 3.78 11.63
Maple-Brown Abbott Aust Shares 2.53 2.62 17.32
*These figures apply to the financial year ending 30 June 2010.
Past performance is not a reliable indicator of future performance.
RBF Allocated Pension and RBF Term Allocated Pension
Member Investment Choice option
1 month
%
12 months
%
2009-10 *
%
Diversified options:
RBF Diversified Growth 1.82 8.82 13.13
Manager specific options:
State Street Balanced Index 1.71 8.35 13.73
State Street Australian Shares Index 2.69 9.06 16.70
Maple-Brown Abbott Balanced 1.94 5.44 11.39
Maple-Brown Abbott Aust Shares 2.66 4.97 17.97
*These figures apply to the financial year ending 30 June 2010.
Past performance is not a reliable indicator of future performance.
RBF look after you
from the moment you
walk in the door.
Josh (Apprentice mechanical fitter),
RBF member
Disclaimer
The RBF Board is the trustee of the RBF. Any general
advice contained within this newsletter has been
prepared without taking into account your objectives,
financial situation or needs. Because of that, you
should, before acting on that advice, consider
whether it is appropriate for you, having regard for
your objectives, financial situation and needs.
Before you make a decision whether to hold an
RBF product, obtain a copy of the relevant RBF
documentation, available at www.rbf.com.au,
and read it carefully. You should also consider
talking to a financial adviser.
This newsletter was current at the time of publication
but is subject to change without notice. If there are
any mistakes or omissions in the information, we
reserve the right to correct those errors or omissions.
The governing rules of RBF prevail over any
misstatement in this newsletter.
Holiday office hours
Contacting RBF
This year RBF staff will be having
a well deserved break over the
festive season.
The RBF offices in Hobart and
Launceston will close at 12 noon on
24 December, and will reopen at
8:30am, 4 January 2011.
During this time, you can still access
your account summaries after logging
in at www.rbf.com.au
If you haven’t registered for member
access to the secure part of the site,
please do so by 20 December to
ensure your access is approved
before the festive break.
We hope that you and your
family have a wonderful
holiday period, and we’ll
see you in 2011.
Visit:
Email:
www.rbf.com.au
super@rbf.com.au
Phone: 1800 622 631
Fax: (03) 6233 3357
Write: Reply Paid 446
Hobart TAS 7001
Office:
39 Sandy Bay Road, Hobart
Level 1, 87 George Street,
Launceston
101561
AL/N/00102 (V12-11/10)