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Energy Industries Superannuation Scheme Pool A

Further information on the following Divisions can be found on your website www.eisuper.com.au, the Product Disclosure Statement, or by calling Member Services on 1300 369 901.

ACCUMULATION SCHEME (DIVISION A)

Who can join?

In order to join the Scheme you must either be:

  • employed by an employer who is participating in the Scheme and joined by the employer by making contributions and providing information in relation to you; or
  • a spouse of such an employee. Participating employers are termed as Energy Industries employers.
Please see the Accumulation Scheme PDS for more details.

Summary of the Scheme

The Scheme is an employer-sponsored superannuation fund for employees of participating employers from certain Energy Industries bodies in NSW. Spouses of employees can also join the Scheme in some circumstances. In this PDS, all participating employers are called ‘Energy Industries employers’.

The Scheme has been designed to provide you with flexible superannuation that you can tailor to address your lifestyle needs, both now and in retirement.

Your employer contributes to the Scheme on your behalf. You have a large degree of control over the pace at which you contribute to your retirement benefits.

In the meantime, the Scheme also provides benefits in the event of your death, invalidity and on leaving employment with a participating employer.

If you are no longer employed by a participating employer, you cease to be eligible to remain as a full member in this Scheme. Further information can be found in the PDS.

You and your spouse may retain your benefits in the Scheme as inactive members but inactive members cannot make any further contributions to the Scheme.

The Scheme is governed by a Trust Deed. When you join the Scheme you are bound by the Trust Deed.

Warning: Due to superannuation laws and depending on individual circumstances, members may not be able to make cash withdrawals whenever they wish.

EXECUTIVE SCHEME (DIVISION E)

Who can join?

Membership of the Scheme is voluntary and is available to an 'Executive' employed by a Energy Industries employer. An 'Executive' is defined under the Trust Deed as any of the following:

  • A Chief Executive Officer (under public sector specifications);
  • A Senior Executive Officer (under public sector specifications);
  • An officer nominated under the Statutory and Other Officers Remuneration Act 1975 (NSW); or
  • A person who is nominated by their Energy Industries employer and who satisfies the following requirements:
    (a) occupies a senior position; and
    (b) is on a fixed term contract of employment.
Executives can join the Scheme even if they are a member of another superannuation scheme or another division of EISS.

Summary of the Scheme

The Scheme is an employer-sponsored superannuation fund for ‘executive’ employees of participating employers from certain Energy Industries bodies in NSW. All participating employers are called ‘Energy Industries employers’. The Scheme has been designed to provide you with flexible superannuation that you can tailor to address your lifestyle needs, both now and in retirement.

Your employer contributes to the Scheme on your behalf. You have a large degree of control over the pace at which you contribute to your retirement benefits.

In the meantime, the Scheme also provides benefits in the event of your death, invalidity and on leaving employment with a participating employer.

If you are no longer employed by a participating employer, you may retain your benefits in the Scheme as a deferred member but deferred members cannot make any further contributions to the Scheme.

The Scheme is governed by a Trust Deed. When you join the Scheme you are bound by the Trust Deed.

Warning: Due to superannuation laws and depending on individual circumstances, members may not be able to make cash withdrawals whenever they wish.

ROLLOVER AND ACCOUNT-BASED PENSION PLAN (DIVISION F)

Who can join?

You will be able to establish your Rollover Plan if you are:

  • an existing or former member of the Scheme, including a spouse member; or
  • by the discretion of the Trustee and subject to superannuation law requirements, an existing member's spouse.
You will be able to establish an Account-Based Pension account if you meet the minimum initial contribution level and one of the following applies:
  • you have retired permanently and reached preservation age (i.e. age 55 for persons born before 1 July 1960, increasing in yearly steps up to age 60 for those born after 30 June 1964) (note if you elect to take a transition to retirement pension benefit at or after attaining your preservation age then you do not have to permanently retire to be paid that pension benefit);
  • your superannuation lump sum payment (SLS) is an unrestricted non-preserved benefit;
  • you have ceased employment with a Scheme employer and are age 60 or over;
  • you are age 65 or over (whether employed or not); or
  • you are totally and permanently incapacitated.
Summary of the Plans

The Account-Based Pension Plan is for existing or former Scheme members and spouses of Scheme members, who have retired, or who want to transition to retirement through a non-commutable transition to retirement pension (see the PDS for details) and who wish to use a SLS payment to produce an income.

The Rollover Plan is for existing Scheme members and some spouses of members who wish to invest an SLS or other monies in the tax-effective superannuation environment.

Warning: Due to superannuation laws and depending on your circumstances, you may not be able to make cash withdrawals from the Rollover Plan whenever you wish.

The Plans do not provide any death or disablement insurance cover.

The Scheme is governed by a Trust Deed. When you join the Plan you agree to be bound by the Trust Deed.

ACCUMULATION SCHEME FOR ELECTRICAL CONTRACTORS (DIVISION N)

Who can join?

In order to join the Scheme you must either be:

  • employed by an employer who is participating in the Scheme and joined by the employer by making contributions and providing information in relation to you; or
  • a spouse of such an employee.
Participating employers are termed as Division N or Electrical Contractor employers.

Summary of the Scheme

The Scheme is an employer-sponsored superannuation fund for employees of participating employers from certain Energy Industries bodies in NSW. Spouses of employees can also join the Scheme in some circumstances. In this PDS, all participating employers are called ‘Electrical Contractor’ or Division N employers.

The Scheme has been designed to provide you with flexible superannuation that you can tailor to address your lifestyle needs, both now and in retirement.

Your employer contributes to the Scheme on your behalf. You have a large degree of control over the pace at which you contribute to your retirement benefits.

In the meantime, the Scheme also provides benefits in the event of your death, invalidity and on leaving employment with a participating employer.

If you are no longer employed by a participating employer, you cease to be eligible to remain as a full member in this Scheme. Further information can be found in the PDS.

You and your spouse may retain your benefits in the Scheme as inactive members but inactive members cannot make any further contributions to the Scheme. The Scheme is governed by a Trust Deed. When you join the Scheme you are bound by the Trust Deed.

Warning: Due to superannuation laws and depending on individual circumstances, members may not be able to make cash withdrawals whenever they wish.

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