Search

Registrable superannuation entity licensee

Trustee and Fund Information

IOOF Investment Management Limited (IIML) as a licensee of a registrable superannuation entity, is required to publicly disclose certain information and documents, including information and remuneration details of its Executive Officers.

Executive Officer information and remuneration

Trust deed

Trust deed includes governing rules and rules relating to the nomination, appointment and removal of trustees or trustee directors.

AET Small APRA fund

  • Trust deed. NB: Trust deed includes governing rules and rules relating to the nomination, appointment and removal of trustees.

AvWrap Retirement Service

IOOF Portfolio Service Superannuation Fund

SMF Eligible Rollover Fund

Product disclosure statements

Annual financial statement

Financial services guide

Summaries of each significant event or material change notice made to members

Notice date Nature of event or change Impact of the change
31 May 2021 Update to the AvWrap Retirement Service Trust Deed

Notice to AvWrap Retirement Service members to inform them that the Trust Deed has been amended to:

  • increase the administration fee cap from 2% per annum to 3% per annum (based on your account balance as at 30 June each year, or when you close your account), subject to a minimum of $40 per month; and
  • remove IIML’s ability to charge other fees that are no longer being charged, including contribution, switching and withdrawal fees.
These changes apply from 1 July 2021 and any administration fees charged above the new cap will be refunded to members at the end of the financial year.
12 April 2021 Fund closure Notice to IOOF Portfolio Service, IOOF LifeTrack, Bendigo Financial Solutions, Financial Partnership Portfolio Service and IOOF Pursuit Focus members of the closure of those funds and transfer to eXpand, IOOF Essential, IOOF Personal Super and Shadforth Portfolio Service on 11 June 2021.
March 2021 Fund closure Notice to MAP Super and Pitcher Partners Super Fund members of the closure of those funds and transfer to IOOF Employer Super, IOOF Personal Super and IOOF Pension on 24 April 2021.
February 2021 Default insurance change Notice to members of an IOOF Employer group to advise of change to default insurance arrangements, including opportunity to maintain existing insurance prior to change.
December 2020 Fund closure Notice to Bendigo and Adelaide Bank Staff Super Plan (BASSP) and AustChoice Super members of the closure of those funds and transfer to IOOF Employer Super, IOOF Personal Super and IOOF Pension on 13 February 2021.
November 2020 Changes to the Cash Account There has been a change of underlying investment for the Cash Account to improve net interest on cash. The Cash Account will be invested in a new interest bearing account from 1 December 2020. The indirect cost will vary and is expected to be no more than 0.70%. The net interest will be aligned to the cash rate set by the Reserve Bank of Australia.

The change is due to come into effect 1 December.

Clients in IOOF Pursuit, IOOF Portfolio Service, LifeTrack and other legacy products received a Significant Event Notice informing them of the changes to the Cash Account.
May 2020 Change to the premium rates for all members with group insurance Group Death and Total Permanent Disability and Income Protection premium rates will increase from 1 July 2020.
May 2020 Temporary change to pension minimums as part of the Federal Government’s Covid-19 stimulus package.

This change is applicable to all account-based pension and Term Allocated Pension (TAP) products under:

AvWrap Retirement Service
IOOF Portfolio Service Superannuation Fund
SMF Eligible Rollover Fund
Various small APRA fund

 Temporary halving of pension minimum drawdown rates for financial years 2019/20 and 2020/21 for account-based pensions and TAPs.
November 2019 Putting Members’ Interests First Notice to members with balances under $6,000 that insurance will be cancelled on 1 April 2020 unless members opt in under new PMIF rules.
May 2019 Change of administration fee for the Cash Hub for all members in Acquire Retirement Service. This was communicated in error and was not actually applicable for Acquire Retirement Service accounts which will be confirmed by a follow up note in members 2018/2019 Annual Statement.
May 2019 Change to the premium rates for all members with group insurance Group Death and Total Permanent Disability and Income Protection premium rates will increase from 1 July 2019.
April 2019 Protecting Your Super (PYS) Notice to members who haven’t received a contribution for 16 continuous months their insurance will be cancelled on 1 July 2019 unless they opt in under PYS rules.
October 2018 Change to the Administration Fees and Account Keeping Fee for Shadforth Portfolio Service: Super & Shadforth Portfolio Service: Pension
  • The Administration Fee structure was simplified to one fee for all investment options (Previously Full and Select Fee options)
  • Clients in the Full menu had reduced Administration fees from 15 November 2018
  • Clients in the Select menu had a reduced Administration fee cap from $2 million to $1 million and an increase in the Account Keeping Fee from $117 to $180.

Outsourced service providers

Name Australian Business Number
Australian Executor Trustees Limited 84 007 869 794
BNP Paribas Securities Services 87 149 440 291
HUB24 Custodial Service Limited 94 073 633 664
IOOF Service Co Pty Ltd 99 074 572 919
Macquarie Investment Management Limited 66 002 867 003
Nexon Asia Pacific Pty Ltd 70 095 335 023
SuperChoice Services Pty Ltd 78 109 509 739

Director's record of attendance at board meetings

IOOF Investment Management Limited  
2020 (as at 30 June 2020) RSE Meetings Held RSE Meetings Attended
Martin Walsh 11 11
Karen Gibson 11 11
Andrew Bloore 11 10
Lindsay Smartt1 11 11
Jane Harvey2 11 2
John Selak3 11 2
Elizabeth Flynn4 11 8
2019  
George Venardos 24 13
Christopher Kelaher 24 3
Dawn Oldham 24 0
Martin Walsh 24 24
Elizabeth Flynn 24 24
John Selak 24 24
Andrew Bloore 24 12
Karen Gibson 24 12
2018   
George Venardos 9 9
Christopher Kelaher 9 7
Dawn Oldham 9 9
Martin Walsh 9 9
Elizabeth Flynn 8 7
John Selak 9 8
2017   
Roger Sexton 8 4
George Venardos 8 8
Jane Harvey 8 5
Allan Griffiths 8 4
Elizabeth Flynn 8 4
Christopher Kelaher 8 7
Dawn Oldham 8 4
Martin Walsh 8 4
John Selak 8 4
2016  
Roger Sexton 7 7
Christopher Kelaher 7 7
Ian Griffiths 7 2
Jane Harvey 7 7
George Venardos 7 7
Allan Griffiths 7 6
Elizabeth Flynn 7 6
2015   
Roger Sexton 6 6
Christopher Kelaher 6 6
Ian Griffiths 6 6
Jane Harvey 6 6
George Venardos 6 5
Allan Griffiths 6 6
2014   
Roger Sexton  12  11
Christopher Kelaher  12  11
Ian Griffiths  12  10
Jane Harvey  12  12
George Venardos  12  10

1 Appointed 6 August 2019
2 Appointed 19 March 2020
3 Resigned 29 August 2019
4 Resigned 19 March 2020

Register of relevant duties and relevant interests