Local Government Superannuation Scheme Pool B

Further information on the following divisions is available on our website www.lgsuper.com.au, the Product Disclosure Statement or by calling Member Services on 1300 369 901.

RETIREMENT SCHEME (DIVISION B) Who can join? The Scheme is closed to new members, except for: persons taking up employment with a Local Government employer and as part of this employment wish to transfer their membership in the State Authorities Superannuation Scheme (SASS) or the Energy Industries Retirement Scheme; and certain members of the Scheme and the Defined Benefit Scheme who have suffered a 20% salary reduction and have taken up an option to defer their accrued benefit in their respective Scheme. Summary of the Scheme The Scheme is a split benefit type scheme for certain employees of participating employers who are Local Government bodies in NSW. The Scheme is closed to new employees of participating employers unless statutory requirements are met (refer to the PDS). 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. Your contribution level determines the pace at which you build up your retirement benefits. The Scheme 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, in certain circumstances you may retain your benefits in the Scheme as a deferred member, but a deferred member cannot make any further contributions to the Scheme. The Scheme is governed by a Trust Deed. When you join the Scheme you agree to be bound by the Trust Deed. Warning: Due to superannuation laws and depending on their circumstances, members may not be able to make cash withdrawals whenever they wish.

BASIC BENEFIT (DIVISION C) Who can join? The Basic Benefit comprises of a defined benefit and where applicable an other contribution or accumulation style account, which accrues to members of the Retirement and Defined Benefit Schemes only. Summary of the Scheme The defined Basic Benefit is fully paid for by your Employer and accrues at a rate of 3% * of salary for each year of service from 1 April 1988. The other contribution account which is an accumulation account can accept eligible superannuation benefits The Basic Benefit is payable in a lump sum, following exit from employment, provided you have reached the Commonwealth “preservation age” which ranges from 55-60 years, depending on your date of birth. * Because of the contributions tax, the effective rate of accrual from 1 July 1988 is 2.55%.

DEFINED BENEFIT SCHEME (DIVISION D) Who can join? The Scheme is closed to new members, except for members taking up employment with a Local Government employer who transfer from the State Superannuation Scheme, or the Energy Industries Defined Benefit Scheme. If you wish to join the Scheme under these conditions, you must commence employment with a Local Government employer within three months of leaving your old employer. In addition, you must elect to join the Scheme within three months of commencing with your Local Government employer. Summary of the Scheme The Scheme is a defined benefit type scheme for certain employees of participating employers who are Local Government bodies in NSW. The Scheme is closed to new employees of participating employers unless statutory requirements are met (refer to the PDS for details). Your employer contributes to the Scheme on your behalf. Your benefit on retirement is directly related to your unit entitlement, as dictated by your Superable Salary on retirement. 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, in certain circumstances you may retain your benefits in the Scheme as a deferred member. However, a deferred member cannot make any further contributions to the Scheme. The Scheme is governed by a Trust Deed. When you join the Scheme you agree to be bound by the Trust Deed. Warning: Due to superannuation laws and depending on their circumstances, members may not be able to make cash withdrawals whenever they wish.