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Documents and Forms

These PDSs explain our on-sale products.  If you have a policy from one of the product suites below, but the policy you applied for started before the date of the current PDS, then you can find the PDS that applies to you in our PDS archives under the Existing Customers tab.

You can also find PDSs for products that we no longer offer to new customers in the same location.

Advised products

Zurich Wealth Protection PDS 2 MB, pdf Zurich Wealth Protection PDS issue date: 27 September 2021; Zurich Insurance-only Superannuation Plan PDS issue date: 1 July 2022
Zurich Active PDS 1 MB, pdf Zurich Active PDS issue date: 27 September 2021
Zurich Insurance-only Superannuation Plan PDS 1 MB, pdf Issue Date: 1 July 2022

A separate management fee no longer applies to quotes for new insurance cover prepared on or after 24 February 2024. Policies replacing existing Zurich cover may continue to have a management fee. The premium illustration available from your financial adviser before you apply for cover, and your policy schedule, will show any applicable management fees and the total premium for the first year.

Where applicable the management fee amounts are being indexed in line with CPI effective 1 March 2024.


This information replaces the information set out under the heading ‘Management fees and stamp duty apply’ on page 74 of the Zurich Wealth Protection PDS, dated 27 September 2021.

Management fees may apply to your policy. The management fee contributes to the cost of managing the policy. The premium illustration available from your financial adviser before you apply for cover, and your policy schedule, will show any applicable management fees. If we increase the management fee (other than fee indexation which is explained below the table) we’ll tell you about the change at least 30 days before it takes effect.

The fee payable depends on your selected premium payment frequency, as shown below.

 

For policies from 24 February to 29 February 2024

For policies from 1 March 2024 to 28 February 2025

Premium
frequency

Management

fee payable

Yearly
equivalent

Management

fee payable

Yearly
equivalent

Monthly

$11.02

$132.24

$11.47

$137.64

Quarterly

$33.01

$132.24

$34.36

$137.44

Half-yearly

$55.04

$110.08

$57.30

$114.60

Yearly

$110.07

$110.07

$114.58

$114.58

Our published management fee changes each year on 1 March, in line with any change in the consumer price index (CPI). The new management fee is based on the annual percentage change in CPI published for the most recent December quarter. We’ll confirm the fee each year when we send you a policy anniversary notice. You can also find updated management fees on our website, at zurich.com.au.

Stamp duty is a government charge

State governments impose stamp duty on life insurance policies and those duties vary from state to state. Any stamp duty that applies is included in the cost of your policy, generally as a separately stated amount. If changes in the law or a change in the life insured’s residency result in a higher rate of stamp duty, the extra duty will be added to your premium or deducted from insurance benefits.

Other charges may apply

Goods and Services Tax (GST) isn’t currently payable on insurance premiums for the policies described in this document. Direct debits from your financial institution may incur an extra fee, charged by your financial institution.

PKEU-021757-2024

As part of our commitment to providing you with the highest standards of service, we have adopted the Life Insurance Code of Practice (the code). If you would like more information about the Code, please visit our website at zurich.com.au/licop.

The following information replaces the information set out on page 3 of the Zurich Wealth Protection PDS dated 27 September 2021 in its entirety.

Life Insurance Code of Practice (Code)


We are committed to following the Life Insurance Code of Practice (the Code) and have adopted all of its requirements.

The Code sets out insurer’s obligations to consumers during all stages of the life insurance process including:

  • When you buy a policy, make a claim or deal with us; and
  • When we deal with claims, complaints and requests for information; and
  • When we help you if you experience financial hardship or need extra support.

As a subscriber to the Code, we make a number of key promises to consumers, including commitments to be honest, respectful and clear in all our interactions and communications. The Code also requires us to be fair, timely, transparent and accountable when providing services.

Specific trauma definitions apply to the first $2 million of any trauma cover issued on or after 1 July 2017, which is when the Code began.

At claim time, where there is a trauma definition in the Code for your trauma condition, we’ll assess your claim against both the:

  • definition in our PDS
  • corresponding medical definition in the Code that is current when the insured event occurs.

You’ll qualify for a benefit if the life insured meets either of the definitions. The Code Compliance Committee will regularly review the specific trauma definitions in the code. We’ll automatically apply updated definitions to your policy once they are part of the Code. 

If you would like more information about the Code, please visit our website at zurich.com.au/licop.

KMUY-019771-2023

 

As part of our commitment to providing you with the highest standards of service, we have adopted the Life Insurance Code of Practice (the code). If you would like more information about the Code, please visit our website at zurich.com.au/licop.

The following information replaces the information set out on page 3 of the Zurich Active PDS dated 27 September 2021 in its entirety.

Life Insurance Code of Practice (Code)


We are committed to following the Life Insurance Code of Practice (the Code) and have adopted all of its requirements.

The Code sets out insurer’s obligations to consumers during all stages of the life insurance process including:

  • When you buy a policy, make a claim or deal with us; and
  • When we deal with claims, complaints and requests for information; and
  • When we help you if you experience financial hardship or need extra support.

As a subscriber to the Code, we make a number of key promises to consumers, including commitments to be honest, respectful and clear in all our interactions and communications. The Code also requires us to be fair, timely, transparent and accountable when providing services.

If you would like more information about the Code, please visit our website at zurich.com.au/licop.

KMUY-019771-2023

 

This information updates the information set out on page 77 of the Zurich Active PDS, dated 27 September 2021.

The example in the section “Funding for time off or the cost of treatment” for Sarah incorrectly states that the claim protector feature could pay a benefit for terminal illness or death at the end of the example. In accordance with the policy conditions for the claims protector feature (on page 26 of the PDS), the feature does not apply to death or terminal illness cover. The example is replaced with the following example:

Sarah has a Zurich Active Cover policy with an initial amount of cover of $600,000.

Like Anil, Sarah took Active Cover because she wanted to cover against unexpected health concerns.

Four years after taking out her policy, Sarah is diagnosed with gastrointestinal disease. Sarah experiences some very severe symptoms and has two stints in hospital.

As Sarah’s condition is a defined health event under her policy (Digestive system table, category B: gastrointestinal disease, evidenced by...), we’ll pay the category B benefit of $390,000 (65%). Sarah’s cover is reduced to reflect the claim. Her maximum amount payable for any future claim is then $210,000.

Two years later, Sarah’s condition deteriorates, and she meets a more severe category A definition of the same condition. We’ll pay the difference between the benefit categories for the two events, which is the maximum benefit amount of $210,000 (100%-65%).

Sarah’s claim will reduce the cover to nil, making it less than the protected amount of $150,000 (25% of the initial amount of cover). Although Sarah is now seriously ill, she’s not yet 65, so the claim protector will kick in 14 days after her claim. Even though she’s been paid $600,000 under the policy, she has a new maximum amount payable of $150,000 in place. That cover can be claimed for an unrelated future health event.


The same correction applies for the information set out on page 77 of the Zurich Active PDS, dated 29 March 2021 (supplemented 4 May 2021).

DARN-018941-2022

This information updates the information set out on page 74 of the Zurich Wealth Protection PDS, dated 27 September 2021.

The amounts set out in the PDS were current up to 27 September 2021 and subsequently updated on the Zurich website on

1 March 2022. From 1 March 2023, the management fees will be indexed in line with the change in the consumer price index.

The new management fees are as follows:

Premium frequency Management fee payable Annual equivalent
Monthly $11.02 $132.24
Quarterly $33.01 $132.24
Half-yearly $55.04 $110.08
Yearly $110.07 $110.07

The management fees in the table apply for new policies from 1 March 2023 until 29 February 2024. Our published management fee changes each year on 1 March, in line with any change in the consumer price index (CPI). The new management fee is based on the annual percentage change in CPI published for the most recent December quarter.

If there is no PDS issued on 1 March in any year, we will advise the updated policy fees on our website, zurich.com.au

MMEA-019511-2023 

Zurich Australia Limited ABN 92 000 010 195 AFSL 232510 has re-located its head office.

All references to “5 Blue Street North Sydney NSW 2060” in the following PDSs are replaced with “118 Mount Street North Sydney NSW 2060”:

  • Zurich Ezicover Income Protection, with issue date 27 May 2019
  • Zurich Ezicover Life Insurance, with issue date 1 November 2018
  • Zurich FutureWise, with issue date 1 October 2016
  • Zurich FutureWise (Supplementary PDS), with issue date 27 May 2019
  • Zurich Insurance-only Superannuation Plan, with issue date 27 May 2019
  • Zurich Superannuation Plan and Zurich Account-Based Pension, with issue date 1 July 2019
  • Zurich Superannuation Plan Optional Protection Benefits, with issue date 1 July 2019

Contact details in the above documents are otherwise unchanged, including the postal address: Locked bag 994 North Sydney NSW 2059.

MMEA-016261-2020

The Zurich Wealth Protection Financial planning advice reimbursement benefit will continue to be a ‘standard built-in benefit’ of the product and be payable in the circumstances described in the PDS.  For applications for a Zurich Wealth Protection policy to be issued into the Zurich Insurance-only Superannuation Plan of the Aon Master Trust made from 18 December 2017, the benefit will not form part of the main policy contract terms.  Instead it will be provided under a separate insurance certificate, made by Zurich directly to the Life Insured.

Insurance Certificate from Zurich Australia Limited

Financial planning advice reimbursement benefit for
Zurich Wealth Protection members of the
Zurich Insurance-only Superannuation Plan

Zurich Australia Limited (Zurich) undertakes to provide an additional payment to help reimburse the cost of financial planning advice which you or your dependants may take about how to best use a benefit to be paid under a policy held for you by the trustee of the Zurich Insurance-only Superannuation Plan, a division of the Aon Master Trust (Fund).  Zurich will provide the Financial planning Advice Reimbursement Benefit (Benefit) in recognition of your contributions to the Fund, which the Fund trustee will use to pay the premiums for the insured benefits from that Fund that are financed by your policy.  However, the Benefit is not provided by your policy in the Fund, but as an additional payment under this Certificate, that is provided directly to you or your dependants by Zurich.

Zurich will require a copy of the Statement of Advice and invoice from a licensed financial planner as proof of the expense before the Benefit can be paid.  This reimbursement is only paid once in respect of each policy held by the Fund trustee for you, is payable directly to the person who incurred the expense and may be split between them where more than one of your dependants takes advice and seeks reimbursement.  The maximum total reimbursement amount was described in the product disclosure statement for your policy.  The Benefit is separate from and replaces of any benefit of this type described in your policy document.

The Zurich Wealth Protection Product Disclosure Statement with issue date of 15 May 2017 (20 April 2017 Preparation Date) is accordingly updated as follows:

  1. The heading ‘In built policy provisions’ is replaced with ‘Additional in-built product features’ on pages 6, 7 & 10
  2. The following words are added to the explanation of the ‘Financial planning advice’ reimbursement benefit at the foot of page 17. 

This benefit is provided under a separate policy certificate provided by Zurich, and not as part of the Zurich Protection Plus policy contract terms.

The contact number for the Financial Ombudsman Service (FOS) has changed.  The following PDSs are updated to reflect that change:

  • Zurich Wealth Protection, with issue date of 15 May 2017
  • Zurich Active, with issue date of 15 May 2017
  • Zurich Sumo, with issue date of 15 May 2017
  • Zurich FutureWise, with issue date of 1 October 2016

The Complaints resolution section on the inside back cover of the Zurich Wealth Protection, Zurich Active and Zurich Sumo PDSs and on page 60 of the Zurich FutureWise PDS, is updated to include the new free call number, as set out below:

Complaints resolution

If you have a complaint about any product described in this PDS, you should contact Zurich Customer Care on 131 551. We will aim to acknowledge any complaint within 5 days and to resolve your complaint within 45 days. If you are not satisfied with the response you receive from us, or we fail to resolve the complaint within 45 days, you can raise the matter with the Financial Ombudsman Service (FOS). FOS is an independent body designed to help you resolve complaints relating to your Zurich product, as well as complaints relating to financial or investment advice and sales of financial or investment products.

You can contact FOS at GPO Box 3, Melbourne VIC 3001.

The telephone number is: 1800 367 287 (or 1800 FOS AUS) and the email address is: info@fos.org.au.

If you wish to complain about a policy which is held in super, you will need to contact the superannuation fund trustee.

As a member of the Financial Services Council of Australia (the FSC), Zurich is bound by the Life Insurance Code of Practice (the Code) with effect from 1 July 2017. The Code outlines the standards that we are committed to in providing life insurance services to you. The Code can be found at www.fsc.org.au.

This information updates the information set out in the Zurich Wealth Protection, Zurich Active and Zurich Sumo PDSs, all dated 15 May 2017 and the Zurich FutureWise PDS dated 1 October 2016, but only in relation to the eligible products outlined below.

Announcing our commitment to minimum standard trauma definitions for policies issued from 1 July 2017

As part of our commitment to the Code, Zurich is pleased to be able to provide policyholders with even greater certainty about the strength of their trauma insurance definitions.

In order to create a minimum standard across the market for the most commonly claimed trauma conditions, the Code now sets out minimum standard trauma definitions for the following three conditions:

  • cancer – excluding specified early stage cancers
  • heart attack – with evidence of severe heart muscle damage
  • stroke – in the brain resulting in specified permanent impairment.

At claim time, where there is a minimum standard trauma definition in the Code for your trauma condition, we will assess your claim against:

  • the applicable definition in our PDS and
  • the corresponding minimum standard medical definition in the Code that is current at the time of the insured event

so that you get the better of the two definitions.

The definitions for these conditions have been incorporated into the Code, and can be found on the FSC website www.fsc.org.au.  The definitions will be regularly reviewed and updated as necessary to ensure that any required tests, treatments and grading systems are aligned with up-to-date medical practice in Australia.  Any updated definitions will automatically apply once they are adopted into the Code.

Eligibility

Minimum standard trauma definitions apply to the first $2million of any trauma cover issued under Zurich Protection Plus and Zurich Child Cover (Wealth Protection), Zurich Child Cover (Active), Zurich Life Insurance (Sumo) and Zurich Trauma Insurance (FutureWise) on or after 1 July 2017.  They specifically do not apply to health events cover issued under Zurich Active, which provides tiered benefits for health events and is structured differently to trauma cover.  Minimum standard trauma definitions also do not apply to any trauma cover issued as part of an income protection policy.

PDS, Fund Profiles and marketing materials

Zurich Investments Global Growth Share Fund - Fund Profile 124 KB, pdf This is a detailed fund overview, which includes the objectives, key features and benefits of the Zurich Investments Global Growth Share Fund.

Zurich Investments Global Thematic Share Fund - Fund Profile 90 KB, pdf This is a detailed fund overview, which includes the objectives, key features and benefits of the Zurich Investments Global Thematic Share Fund.

PDS Updates

18/12/2020 - Updates to Zurich investments Funds: Indirect Cost Ratio

The Indirect Cost Ratio (ICR) for all investment funds have been reviewed taking into consideration transaction costs and certain investment-related costs incurred within the investments during the period 1 July 2019 to 30 June 2020.  The current ICRs are shown in the table below.   

It is important to note these changes do not represent new or increased costs charged by Zurich but simply reflect updated information in line the Fund’s disclosure obligations* and there have been no changes to way in which the investment funds are managed.

Zurich Investments Fund  

Management Fee

 (% p.a.)

Estimated performance Fee

 (% p.a.)

Estimated indirect costs

 (% p.a.)

Total estimated management costs

 ( % p.a.)

Global Thematic Share Fund
0.98
n/a
0.06
1.04
Hedged Global Thematic Share Fund
0.98
n/a
0.05
1.03
Unhedged Global Thematic Share Fund
0.98
n/a
0.05
1.03
Hedged Global Growth Share Fund 0.98 n/a 0.04 1.02
Hedged Concentrated Global Growth Share Fund 1.10 n/a Nil 1.10
Managed Growth Fund 0.87 n/a 0.12 0.99

*Disclosure requirements of fees and costs for superannuation funds and managed investments are set out in the Australian Securities and Investment Commission (ASIC) Regulatory Guide 97 - Disclosing fees and costs in PDSs and periodic statements (‘RG 97’).  RG97 was recently enhanced requiring the calculation of ICRs to also take into account transaction costs and certain investment-related costs incurred within the underlying investment. These types of costs have always existed and were taken into consideration into your net-of-fee return but were not previously required to be specifically disclosed in the ICR.

WLIM-016303-2020

18/12/2020 - Updates to Zurich investments Funds: Estimated transactional and operational costs (net of buy/sell spread % p.a.)

The Estimated transactional and operational costs for all investment funds have been reviewed taking into consideration transaction and operation costs incurred within the investments during the period 1 July 2019 to 30 June 2020. The current Estimated transactional and operational costs (net of buy/sell spread % p.a.) are shown in the table below.

Zurich Investments Fund  

Current
Estimated transactional and
operational costs

 (net of buy/sell spread  % p.a.)

New
Estimated transactional and
operational costs

 (net of buy/sell spread  % p.a.)

Small Companies Fund Class D
Nil 0.53
Hedged Global Thematic Share Fund
0.09 0.11
Unhedged Global Thematic Share Fund
0.01 Nil
Unhedged Global Growth Share Fund 0.01 0.02
Hedged Global Growth Share Fund 0.10 0.03
Hedged Concentrated Global Growth Share Fund 0.09 0.01
Managed Growth Fund Nil 0.01

WLIM-016303-2020

14/12/2020 - Zurich Investment Management Limited head office street address update, effective 14 December 2020

Zurich Investment Management Limited ABN 56 063 278 400 AFSL 232511 has re-located its head office.

All references to “5 Blue Street North Sydney NSW 2060” in the following PDSs are replaced with “118 Mount Street North Sydney NSW 2060”:

  • Zurich Investments ACI Healthcare Impact Fund PDS
  • Zurich Investments Australian Property Securities Share Fund PDS
  • Zurich Investments Concentrated Global Growth Fund PDS
  • Zurich Investments Emerging Markets Equity Fund PDS
  • Zurich Investments Global Growth Share Fund PDS
  • Zurich Investments Global Thematic Share Fund PDS
  • Zurich Investments Global Thematic Focus Fund PDS
  • Zurich Investments Hedged Concentrated Global Growth Fund PDS
  • Zurich Investments Hedged Global Growth Share Fund PDS
  • Zurich Investments Hedged Global Thematic Share Fund PDS
  • Zurich Investments Managed Growth Fund PDS
  • Zurich Investments Small Companies Fund Class D PDS
  • Zurich Investments Unhedged Global Growth Share Fund PDS
  • Zurich Investments Unhedged Global Thematic Share Fund PDS

WLIM-016283-2020

1/12/2020 - Changes to buy/sell spreads

The buy/sell spreads have changed for a number of funds following a review of the underlying transaction costs incurred by the fund. Refer to the table below for the changes effective 1 December 2020.

Fund

Previous buy/sell spread

New buy/sell spread

Zurich Investments Global Thematic Share Fund

0.06% / 0.06%

0.04% / 0.04%

Zurich Investments Unhedged Global Thematic Share Fund 0.06% / 0.06% 0.04% / 0.04%
Zurich Investments Hedged Global Thematic Share Fund 0.06% / 0.06% 0.04% / 0.04%
Zurich Investments Global Thematic Focus Fund 0.06% / 0.06% 0.04% / 0.04%
Zurich Investments Global Growth Share Fund 0.06% / 0.06% 0.03% / 0.03%
Zurich Investments Unhedged Global Growth Share Fund 0.06% / 0.06% 0.03% / 0.03%
Zurich Investments Hedged Global Growth Share Fund 0.06% / 0.06% 0.03% / 0.03%
Zurich Investments Concentrated Global Growth Share Fund 0.06% / 0.06% 0.02% / 0.02%
Zurich Investments Hedged Concentrated Global Growth Share Fund 0.06% / 0.06% 0.02% / 0.02%
Zurich Investments ACI Healthcare Impact Fund 0.06% / 0.06% 0.03% / 0.03%
Zurich Investments Managed Growth Fund 0.18% / 0.17% 0.12% / 0.12%

Please refer to the Zurich Investments Funds Additional Information Guide for information on buy/sell spreads and transaction costs.

WLIM-016259-2020

1/10/2020 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Partner

With effect 1 October 2020, Schroder Investment Management Australia Limited replaces Aberdeen Asset Management Limited in the Fixed Interest and Cash asset classes.

WLIM-016069-2020

20/4/2020 - Change to the Zurich Investments Managed Growth Fund buy/sell spread

The buy/sell spread has changed effective 20 April 2020 for the Zurich Investments Managed Growth Fund following a review of the underlying transaction costs incurred by the fund.

Fund

Previous buy/sell spread

New buy/sell spread

Zurich Investments Managed Growth Fund

0.13% / 0.22%

0.18% / 0.17%

Please refer to the Zurich Investments Funds Additional Information Guide for information on buy/sell spreads and transaction costs.

WLIM-015507-2020

26/3/2020 - Change to the Zurich Investments Managed Growth Fund buy/sell spread

The buy/sell spread has changed effective 26 March 2020 for the Zurich Investments Managed Growth Fund following a review of the underlying transaction costs incurred by the fund.

Fund

Previous buy/sell spread

New buy/sell spread

Zurich Investments Managed Growth Fund

0.12% / 0.12%

0.13% / 0.22%

Please refer to the Zurich Investments Funds Additional Information Guide for information on buy/sell spreads and transaction costs.

WLIM-015436-2020

22/8/2019 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Partners

With effect 22 August 2019, Insight Investment Management (Global) Limited and Robeco Hong Kong Limited have been added as underlying investment managers in the Alternatives asset class of the Zurich Investments Managed Growth Fund, replacing Denning Pryce Ltd. Equity Trustees Limited is the Responsible Entity for both of the replacement investment managers.

WLIM-014855-2019

12/8/2019 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Partner

With effect 12 August 2019, Celeste Funds Management Limited replaces Sigma Funds Management Pty Ltd in the Australian shares asset class.

WLIM-014822-2019

12/8/2019 - Update to the Zurich Investments Small Companies Fund Class D PDS: Update of Strategic Investment Partner

With effect 12 August 2019, Celeste Funds Management Limited replaces Sigma Funds Management Pty Ltd as the strategic investment partner for the Zurich Investments Small Companies Fund Class D.

About Celeste

Celeste Funds Management is an employee owned, specialist small companies investment manager that has been generating long-term wealth for its clients since 1998. Celeste has a sole focus on Australian small companies listed on the ASX.  Celeste executes a well-established analytical investment process that has a long history of delivering attractive above benchmark tax effective returns.  The Celeste dedicated investment team has over 80 years combined experience in financial markets.

WLIM-014821-2019

1/4/2019 - Update to the Zurich Investments Managed GrowthFund PDS: Update of Investment Partner

With effect 1 November 2018, GSFM Responsible Entity Services Limited as the Responsible Entity with Epoch Investment Partners, Inc as the underlying Investment Manager has been added as an investment partner in the International shares asset class.

WLIM-014423-2019

13/11/2018 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Partner

With effect 7 November 2018, DWS International GmbH replaces State Street Global Advisors, Australia, Limited within the Australian shares asset class.

WLIM-014013-2018

15/05/2018 - Update to estimated indirect costs and total estimated management costs

With effect 15 May 2018, the estimated indirect costs and total estimated costs for the following funds have been updated as disclosed in the below table:

Zurich Investments Fund  

Management fee

 (% p.a.)

Estimated performance fee

 (% p.a.)

Estimated indirect costs

 (% p.a.)

Total estimated management costs

 ( % p.a.)

Global Growth Share Fund 0.98
n/a
0.04
1.02
Hedged Global Growth Share Fund
0.98
n/a
0.04
1.02
Managed Growth Fund
0.87
n/a
0.17
1.04

WLIM-013462-2018

15/05/2018 - Update to estimated net transactional and operational costs

With effect 15 May 2018, the estimated net transactional costs for the following funds have been updated as disclosed in the below table:

Zurich Investments Fund  

Estimated transactional and
operational costs

 (net of buy/sell spread  % p.a.)

Global Equity Income Fund 1.04
Unhedged Global Growth Share Fund
0.03
Concentrated Global Growth Fund
0.09

WLIM-013462-2018

5/12/2017 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Partner

With effect 5 December 2017, Sigma Funds Management Pty Limited replaces Ellerston Capital Limited within the Australian shares asset class.

WLIM-013024-2017

01/12/2017 - Changes to buy/sell spreads

The buy/sell spreads have changed for a number of funds following a review of the underlying transaction costs incurred by the fund. Refer to the table below for the changes effective 1 December 2017.

Fund   Previous buy/sell spread New buy/sell spread
Zurich Investments Global Thematic Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Unhedged Global Thematic Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Hedged Global Thematic Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Global Growth Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Unhedged Global Growth Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Hedged Global Growth Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Concentrated Global Growth Share Fund 0.08% / 0.08% 0.06% / 0.06%
Zurich Investments Hedged Concentrated Global Growth Share Fund 0.08% / 0.08% 0.06% / 0.06%

 Please refer to the Zurich Investments Funds Additional Information Guide for information on buy/sell spreads and transaction costs.

WLIM-013003-2017

17/05/2017 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Partner

With effect 17 May 2017, Nikko AM Limited will replace Above the Index Asset Management Pty Ltd within the Australian shares asset class.

WLIM-012458-2017

30/12/2016 - Update to the Zurich Investments Managed Growth Fund PDS: Update of Investment Return Objective

With effect 1 January 2017, the investment return objective of the Managed Growth Fund is:

To provide investors with capital growth over the medium to long term, through exposure across a range of asset classes.
The fund aims to achieve CPI+2.5% pa over rolling five year periods before fees and taxes.

WLIM-11992-2016

01/12/2016 - Zurich Investments managed funds no longer available for investment in New Zealand

As at 1 December 2016, Zurich Investments managed investment schemes will cease to be distributed in New Zealand.

All references to New Zealand or other overseas investors in the Product Disclosure Statement and Additional Information Guide are no longer applicable. The information about "Anti-Money Laundering, Counter-Terrorism Financing Requirements, FATCA & Other Relevant Laws" in the Application Booklet is still applicable.

The following information is added to the Additional Information Guide:

Residency and applicable laws

Zurich Investments funds are designed for customers who are resident in Australia. If you move to another country outside of Australia, the fund may no longer be suitable for your individual needs, and you may no longer be eligible to make contributions into the fund. The local laws and regulations of the jurisdiction to which you move may affect Zurich Investments’ ability to continue to service your investment in accordance with its terms and conditions.

You need to tell Zurich Investments of any planned change in residency before the change happens.

We do not offer tax advice, so if you decide to live outside Australia, we recommend obtaining advice on the tax consequences of changing your country of residence in relation to your investment. We will not be held liable for any adverse tax consequences that arise in respect of you or your investment as a result of such a change in residence.

A change in residency might require Zurich Investments to suspend or terminate your investment accordingly.

We and other companies within the worldwide Zurich group of companies have obligations under Australian and foreign laws. Regardless of any other investment terms and conditions, Zurich Investments reserves the right to take any action (or not take any action) which could place us or another company within the group at risk of breaching Australian laws or laws in any other country.

All financial transactions are subject to compliance with applicable trade or economic sanctions laws and regulations.

Zurich Investments may terminate an investment where you are considered to be a sanctioned person, or you conduct an activity which is sanctioned, according to trade or economic sanctions laws and regulations.

Each investment is based on the legal and regulatory requirements applicable at the time the investment is issued. Should the legal and regulatory requirements change in a material way, Zurich Investments is entitled to adapt the terms and conditions to the changed legal and regulatory requirements, provided the change is lawful.

WLIM-11993-2016

01/12/2016 - Changes to buy/sell spreads

The buy/sell spreads for the Zurich Investments Small Companies Fund have changed following a review of the underlying transaction costs incurred by the fund. Refer to the table below for the changes effective 1 December 2016.

Fund   Previous buy/sell spread New buy/sell spread
Zurich Investments Small Companies Fund  0.30% / 0.30%  0.20% / 0.20%

 Please refer to the Product Disclosure Statement for each product for information on buy/sell spreads and transaction costs.

WLIM-11994-2016

22/1/2016 - Managed Growth Fund Removal of Investment Partner

Update to the Zurich Investments Managed Growth Fund PDS: Removal of Investment Partner

Effective 22 January 2016, the Alternative Investment asset class within the Managed Growth Fund will no longer include Colonial First State Investments  Ltd as an investment partner.

WLIM-011007-2016

Performance Reports

Forms for all Funds

Updates

The combined administration and investment fee built into the unit price for Unit Linked options in the Zurich Retirement Plan will be reduced to the following maximum effective 21 June 2023:

Zurich Retirement Plan investment option

Maximum charge p.a.*

Australian Fixed Interest

1.00%

Australian Property Securities

1.00%

Balanced

1.00%

Capital Stable

1.00%

Cash

0.70%

Global Thematic Share

1.15%

Government Securities

1.00%

Managed Growth

1.00%

Managed Share

1.00%


For members in the Zurich Retirement Plan Capital Guaranteed investment option, the sum of the asset fee plus cost of capital guarantee charge is subject to a 1.00% p.a. maximum.  There will be no change to the charges for those members whose total fees are already below the new maximums shown above.

* This is the actual fee payable after the taxation deduction benefit has been applied that Zurich passes on to you in the form of a reduced fee.

KDEG-019952-2023

The Portfolio Management Charge (PMC) has been reduced for account balances between $50,000 to 249,999 for the Zurich Superannuation Plan (ZSP) and for adjusted investment amounts between $50,000 to $249,999 for the Zurich Account Based Pension (ZABP) and the Zurich Term Allocated Pension (ZTAP), with effect from 14 June 2023.

What are the changes?

  • A third PMC threshold for ZSP for account balances, and for ZABP and ZTAP adjusted investment amounts between $50,000 and $249,999 has been introduced.
  • Reduced the total PMC for ZSP account balances in this fee bracket from 0.65% to 0.55%.
  • Reduced the total PMC for ZABP and ZTAP adjusted investment amounts in this fee bracket from 0.75% to 0.65%.
  • The PMC for account balances less than $50,000 for ZSP, and for adjusted investment amounts less than $50,000 for ZABP and ZTAP have been maintained at their current level.
  • The PMC for account balances greater than $249,999 for ZSP, and for adjusted investment amounts greater than $249,999 for ZABP and ZTAP have been maintained at their current level.

The following table provides a comparison of the fees before and after the review.

Portfolio Management Charge (PMC)

This is the charge paid for the management and administration of the plan.  This fee is charged as a percentage of your total account balance at the date of the fee deduction and is deducted by withdrawing units from your investment option(s) monthly (on the same day of the month as the commencement date of your plan) in proportion to the balances in your investment option(s).

PMC Threshold

Zurich Superannuation Plan*

 Zurich Account Based Pension
& Zurich Term Allocated Pension

Pre 14 June 2023

From 14 June 2023

Pre 14 June 2023

From 14 June 2023

Up to $49,999

0.65%

0.65%

0.75%

0.75%

$50,000 - $249,999

0.65%

0.55%

0.75%

0.65%

$250,000+

0.50%

0.50%

0.60%

0.60%

* This is the actual fee payable after the taxation deduction benefit has been applied that Zurich passes on to you in the form of a reduced fee.

KDEG-019952-2023

The Indirect Cost Ratio (ICR) for all invesment options have been reviewed taking into consideration transaction costs and certain investment-related costs incurred within the underlying investments during the period 1 July 2021 to 30 June 2022. The current ICRs are shown in the table below.

Investment Option

New ICR

Current ICR

Capital Stable

0.42%

0.40%

Balanced

0.43%

0.41%

Managed Growth

0.43%

0.42%

Priority Growth

0.41%

0.43%

Managed Share

0.44%

0.44%

Australian Cash Pool

0.00%

0.00%

Zurich Australian Fixed Interest

0.30%

0.36%

Australian Property Securities Fund

0.36%

0.36%

Global Property Fund

0.47%

0.61%

Australian Value Share Fund

0.41%

0.41%

Global Thematic Share Fund

0.49%

0.47%

Global Growth Share Fund

0.48%

0.47%

First Sentier - PST Australian Share Option

1.00%

1.19%

*Disclosure requirement of fees and costs for superannuation funds and managed investments are set out in the Australian Securities and Investment Commission (ASIC) Regulatory Guide 97 - Disclosing fees and costs in PDSs and periodic statements ('RG 97'). RG97 was recently enhanced requiring the calculation of ICRs to also take into account transaction costs and certain investment-related costs incurred within the underlying investment. These types of costs have always existed and were taken into consideration into your net-of-fee return but were not previously required to be specifically disclosed in the ICR.

KDEG-019954-2023

The Portfolio Management Charge (PMC) has been reduced for the Zurich Superannuation Plan (ZSP), Zurich Account Based Pension (ZABP) and the Zurich Term Allocated Pension (ZTAP) with effect from 1 June 2022.

What are the changes?

  • Removed the first Portfolio Management Charge threshold for ZSP, ZABP and ZTAP.
  • Reduced the total Portfolio Management Charge for account balances of less than $250,000 for ZSP.
  • Reduced the total Portfolio Management Charge for adjusted investment amounts of less than $250,000 for ZABP and ZTAP.
  • The Portfolio Management Charge for account balances greater than $249,999 for ZSP, and for adjusted investment amounts greater than $249,999 for ZABP and ZTAP have been maintained at their current level.

The following table provides a comparison of the fees before and after the review.

Portfolio Management Charge (PMC)

This is the charge paid for the management and administration of the plan.  This fee is charged as a percentage of your total account balance at the date of the fee deduction and is deducted by withdrawing units from your investment option(s) monthly (on the same day of the month as the commencement date of your plan) in proportion to the balances in your investment option(s).

 

PMC Threshold

Zurich Superannuation Plan

Zurich Account Based Pension
& Zurich Term Allocated Pension

Pre 1 June 2022

From 1 June 2022

Pre 1 June 2022 From 1 June 2022

Up to $99,999

0.85%

0.65%

0.95%

0.75%

$100,000 - $249,999

0.75%

0.65%

0.85%

0.75%

$250,000+

0.50%

0.50%

0.60%

0.60%

 

KDEG-018752-2022

The minimum monthly Portfolio Management Charge (PMC) of $22.30 p.m. has been removed from the Zurich Superannuation Plan (ZSP), Zurich Account Based Pension (ZABP) and the Zurich Term Allocated Pension (ZTAP) with effect from 1 April 2022. 


KDEG-018752-2022

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension Indirect Cost Ratio (2020/21)

The Indirect Cost Ratio (ICR) for all investment options have been reviewed taking into consideration transaction costs and certain investment-related costs incurred within the underlying investments during the period 1 July 2020 to 30 June 2021.  The current ICRs are shown in the table below.   

It is important to note these changes do not represent new or increased costs charged by Zurich but simply reflect updated information in line the Fund’s disclosure obligations* and there have been no changes to way in which the investment options are managed.

Investment Option

New ICR

Current ICR

Capital Stable

0.40%

0.42%

Balanced

0.41%

0.43%

Managed Growth

0.42%

0.43%

Priority Growth

0.43%

0.42%

Managed Share

0.44%

0.45%

Australian Cash Pool

0.00%

0.01%

Zurich Australian Fixed Interest

0.36%

0.36%

Australian Property Securities Fund

0.36%

0.36%

Global Property Fund

0.61%

0.60%

Australian Value Share Fund

0.41%

0.44%

Global Thematic Share Fund

0.47%

0.48%

Global Growth Share Fund

0.47%

0.47%

First Sentier - PST Australian Share Option

1.19%

1.07%

*Disclosure requirements of fees and costs for superannuation funds and managed investments are set out in the Australian Securities and Investment Commission (ASIC) Regulatory Guide 97 - Disclosing fees and costs in PDSs and periodic statements (‘RG 97’).  RG97 was recently enhanced requiring the calculation of ICRs to also take into account transaction costs and certain investment-related costs incurred within the underlying investment. These types of costs have always existed and were taken into consideration into your net-of-fee return but were not previously required to be specifically disclosed in the ICR.

KDEG-018184-2022

Zurich Superannuation Plan and Zurich Account-Based Pension closed to new members from 1 October 2021

Please be advised that effective 1 October 2021, the Zurich Superannuation Plan (ZSP) and the Zurich Account-Based Pension (ZABP) are closed to new members.    

Existing ZSP and ZABP members

There is no impact to existing ZSP and ZABP members from this announcement.  All aspects of their existing policy remain the same, including the ability the ability to make changes to their investment strategy, make additional contributions (ZSP), and change the level of retirement income to be received (ZABP).
 

KDEG-019727-2023

Income protection cover can no longer be added to a Zurich Superannuation Plan

This information updates information set out in the Zurich Superannuation Plan (ZSP) and Zurich Account-Based Pension (ZABP) PDS, dated 1 July 2019.

Income protection cover, available through the Zurich Income Protector policy, is no longer available to members applying for ZSP Optional Protection Benefits. From 29 March 2021, Zurich Income Protector will no longer be available to:

- existing members wishing to add income protection cover to their ZSP for the first time; or
- new members joining the fund.

Existing members who currently have Zurich Income Protector as part of their ZSP are unaffected by this change and remain covered under the terms and conditions that applied when their cover started.

More information about the insurance cover available as part of the Zurich Superannuation Plan can be found in the Zurich Superannuation Plan Optional Protection Benefits Information Document, dated 29 March 2021.

Both the Zurich Superannuation Plan (ZSP) and Zurich Account-Based Pension (ZABP) PDS and the Zurich Superannuation Plan Optional Protection Benefits Information Document are available online at zurich.com.au/ZSPandZABP or by contacting us.

MMEA-016718-2021

Zurich Australia Limited ABN 92 000 010 195 AFSL 232510 has re-located its head office.

All references to “5 Blue Street North Sydney NSW 2060” in the following PDSs are replaced with “118 Mount Street North Sydney NSW 2060”:

  • Zurich Ezicover Income Protection, with issue date 27 May 2019
  • Zurich Ezicover Life Insurance, with issue date 1 November 2018
  • Zurich FutureWise, with issue date 1 October 2016
  • Zurich FutureWise (Supplementary PDS), with issue date 27 May 2019
  • Zurich Insurance-only Superannuation Plan, with issue date 27 May 2019
  • Zurich Superannuation Plan and Zurich Account-Based Pension, with issue date 1 July 2019
  • Zurich Superannuation Plan Optional Protection Benefits, with issue date 1 July 2019

Contact details in the above documents are otherwise unchanged, including the postal address: Locked bag 994 North Sydney NSW 2059.

MMEA-016261-2020

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Investment Option Booklet: Change to Buy/Sell spread for the Global Growth Share option

The buy/sell spread for the Global Growth Share option changed following a review of the underlying transaction costs incurred by the fund. Refer to the table below for the change effective 1 December 2020.
 

Option

Previous buy/sell spread

New buy/sell spread

Global Growth Share

0.06% / 0.06%

0.03% / 0.03%


Please refer to the Zurich Superannuation Plan & Zurich Account-Based Pension Investment Option booklet for further information on buy/sell spreads and transaction costs.

KDEG-016284-2020

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Standard Risk Measure information

The Standard Risk Measure is based on industry guidance to allow members to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period.

Investment options are graded across seven ‘risk bands’; from ‘very low risk’ to ‘very high risk’ (refer to the table below).

Risk Band

Risk Label

Estimated number of negative annual returns over any 20-year period

1

Very low

Less than 0.5

2

Low

0.5 to less than 1

3

Low to Medium

1 to less than 2

4

Medium

2 to less than 3

5

Medium to High

3 to less than 4

6

High

4 to less than 6

7

Very high

6 or greater

 
The current Standard Risk Measures (measured at 1 December 2020) are as follows:
 

Investment option

Standard Risk Measure

Capital Stable

Medium

Cash

Low*

Australian Fixed Income

Medium to High

Balanced

Medium to High

Managed Growth

High

Australian Property Securities

Very High

Global Property Securities

Very High

Priority Growth

High

Managed Share

High

Australian Value Share

High

Global Thematic Share

High

Global Growth Share

High

Colonial First State – Australian Shares

High

*The SRM change for the Cash Investment Option is predominantly due to current lower interest rate environment.
 

Note:

  • The Standard Risk Measure is not a complete assessment of all forms of investment risk, for instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than a member may require to meet their objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return.
  • Members should still ensure they are comfortable with the risks and potential losses associated with their chosen investment option/s.
KDEG-016284-2020

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Indirect Cost Ratio

The Indirect Cost Ratio (ICR) for all investment options have been reviewed taking into consideration transaction costs and certain investment-related costs incurred within the underlying investments during the period 1 July 2019 to 30 June 2020.  The current ICRs are shown in the table below.   

It is important to note these changes do not represent new or increased costs charged by Zurich but simply reflect updated information in line the Fund’s disclosure obligations* and there have been no changes to way in which the investment options are managed.

Investment option

Current ICR

New

Capital Stable

0.48%

0.42%

Balanced

0.48%

0.43%

Managed Growth

0.45%

0.43%

Priority Growth

0.42%

0.42%

Managed Share

0.49%

0.45%

Australian Cash Pool

0.01%

0.01%

Zurich Australian Fixed Interest

0.38%

0.36%

Australian Property Securities Fund

0.36%

0.36%

Global Property Fund

0.51%

0.60%

Australian Value Share Fund

0.48%

0.44%

Global Thematic Share Fund

0.48%

0.48%

Global Growth Share Fund

0.47%

0.47%

Colonial First State – PST Australian Share Option

1.09%

1.07%

*Disclosure requirements of fees and costs for superannuation funds and managed investments are set out in the Australian Securities and Investment Commission (ASIC) Regulatory Guide 97 - Disclosing fees and costs in PDSs and periodic statements (‘RG 97’). RG97 was recently enhanced requiring the calculation of ICRs to also take into account transaction costs and certain investment-related costs incurred within the underlying investment. These types of costs have always existed and were taken into consideration into your net-of-fee return but were not previously required to be specifically disclosed in the ICR.

KDEG-016284-2020

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Indirect Cost Ratio

The Indirect Cost Ratio (ICR) for all investment options have been reviewed taking into consideration transaction costs and certain investment-related costs incurred within the underlying investments during the period 1 July 2018 to 30 June 2019.  The current ICRs are shown in the table below.   

It is important to note these changes do not represent new or increased costs charged by Zurich but simply reflect updated information in line the Fund’s disclosure obligations* and there has been no changes to way in which the investment options are managed.

Investment option

Previous ICR

Current ICR

Capital Stable

0.51%

0.48%

Balanced

0.51%

0.48%

Managed Growth

0.48%

0.45%

Priority Growth

0.45%

0.42%

Managed Share

0.47%

0.49%

Cash

0.01%

0.01%

Australian Fixed Interest

0.38%

0.38%

Australian Property Securities

0.36%

0.36%

Global Property Securities

0.52%

0.51%

Australian Value Share

0.46%

0.48%

Global Thematic Share

0.47%

0.48%

Global Growth Share

0.47%

0.47%

Colonial First State – Australian Shares

1.08%

1.09%

*Disclosure requirements of fees and costs for superannuation funds and managed investments are set out in the Australian Securities and Investment Commission (ASIC) Regulatory Guide 97 - Disclosing fees and costs in PDSs and periodic statements (‘RG 97’).  RG97 was recently enhanced requiring the calculation of ICRs to also take into account transaction costs and certain investment-related costs incurred within the underlying investment. These types of costs have always existed and were taken into consideration into your net-of-fee return, but were not previously required to be specifically disclosed in the ICR.

KDEG-015630-2020

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Standard Risk Measure information

The Standard Risk Measure is based on industry guidance to allow members to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period.

Investment options are graded across seven ‘risk bands’; from ‘very low risk’ to ‘very high risk’ (refer to the table below).

Risk Band

Risk Label

Estimated number of negative annual returns over any 20-year period

1

Very low

Less than 0.5

2

Low

0.5 to less than 1

3

Low to medium

1 to less than 2

4

Medium

2 to less than 3

5

Medium to high

3 to less than 4

6

High

4 to less than 6

7

Very high

6 or greater

 
The current Standard Risk Measures (measured at 25 October 2019) are as follows:
 

Investment option

Standard Risk Measure

Capital Stable

Medium

Cash

Very Low

Australian Fixed Income

Medium to High

Balanced

Medium to High

Managed Growth

High

Australian Property Securities

Very High

Global Property Securities

Very High

Priority Growth

High

Managed Share

High

Australian Value Share

Very High

Global Thematic Share

Very High

Global Growth Share

Very High

Colonial First State – Australian Shares

Very High


Note:

  • The Standard Risk Measure is not a complete assessment of all forms of investment risk, for instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than a member may require to meet their objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return.
  • Members should still ensure they are comfortable with the risks and potential losses associated with their chosen investment option/s.
KDEG-015630-2020

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Investment Option Booklet: Change to Buy/Sell spread for Global Property Securities option

The buy/sell spread for the Global Property Securities option changed following a review of the underlying transaction costs incurred by the fund. Refer to the table below for the change effective 18 October 2019.

Option

Previous buy/sell spread

New buy/sell spread

Global Property Securities

0.30% / 0.30%

0.20% / 0.20%

Please refer to the Zurich Superannuation Plan & Zurich Account-Based Pension Investment Option booklet for further information on buy/sell spreads and transaction costs.

KDEG-015630-2020

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Indirect Cost Ratio

The Indirect Cost Ratio (ICR) for all investment options have been reviewed taking into consideration transaction costs and certain investment-related costs incurred within the underlying investments during the period 1 July 2016 to 30 June 2017.  The current ICRs are shown in the table below.

It is important to note these changes do not represent new or increased costs charged by Zurich but simply reflect updated information in line with the Fund’s disclosure obligations* and  there has been no changes to the way in which the investment options are managed.

Investment option

Previous ICR

Current ICR

Capital Stable

0.49%

0.52%

Balanced

0.50%

0.52%

Managed Growth

0.48%

0.50%

Priority Growth

0.46%

0.47%

Managed Share

0.53%

0.62%

Cash

0.02%

0.01%

Australian Fixed Interest

0.39%

0.38%

Australian Property Securities

0.36%

0.36%

Global Property Securities

0.63%

0.52%

Australian Value Share

0.52%

0.63%

Global Thematic Share

0.49%

0.47%

Equity Income

1.49%

1.56%

Global Equity Income

1.49%

1.94%

Global Growth Share

0.50%

0.47%

Colonial First State – Australian Shares

1.09%

1.09%

*Disclosure requirements of fees and costs for superannuation funds and managed investments are set out in the Australian Securities and Investment Commission (ASIC) Regulatory Guide 97 - Disclosing fees and costs in PDSs and periodic statements (‘RG 97’).  RG97 was recently enhanced requiring the calculation of ICRs to also take into account transaction costs and certain investment-related costs incurred within the underlying investment. These types of costs have always existed and were taken into consideration into your net-of-fee return, but were not previously required to be specifically disclosed in the ICR. 

KDEG-013101-2018

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Fee Guide and Additional Information Booklet: Non-commutable account-based pension (transition to retirement pension)

The non-commutable account-based pension (transition to retirement pension) described on page 15 of the Zurich Superannuation Plan and Zurich Account-Based Pension Fee Guide and Additional Information Booklet, with an issue date of 1 January 2017, has been closed to new pensioners and is no longer available.

KDEG-013101-2018

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Investment Option Booklet: Change to Buy/Sell spread for Global Growth Share option

The buy/sell spread for the Global Growth Share option changed following a review of the underlying transaction costs incurred by the fund. Refer to the table below for the change effective 1 December 2017.

Option

Previous buy/sell spread

New buy/sell spread

Global Growth Share

0.08% / 0.08%

0.06% / 0.06%

Please refer to the Zurich Superannuation Plan & Zurich Account-Based Pension Investment Option booklet for further information on buy/sell spreads and transaction costs.

KDEG-013101-2018

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Standard Risk Measure information

The Standard Risk Measure is based on industry guidance to allow members to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period.
Investment options are graded across seven ‘risk bands’; from ‘very low risk’ to ‘very high risk’ (refer to the table below).

Risk Band

Risk Label

Estimated number of negative annual returns over any 20-year period

1

Very low

Less than 0.5

2

Low

0.5 to less than 1

3

Low to medium

1 to less than 2

4

Medium

2 to less than 3

5

Medium to high

3 to less than 4

6

High

4 to less than 6

7

Very high

6 or greater



The current Standard Risk Measures (measured at 1 December 2017) are as follows:

 

Investment option

Standard Risk Measure

Capital Stable

Medium

Cash

Very Low

Australian Fixed Interest

Medium

Balanced

High

Managed Growth

High

Australian Property Securities

Very High

Global Property Securities

Very High

Equity Income

High

Global Equity Income

High

Priority Growth

High

Managed Share

High

Australian Value Share

High

Global Thematic Share

Very High

Global Growth Share

High

Colonial First State – Australian Shares

Very High

 

Note:

  • The Standard Risk Measure is not a complete assessment of all forms of investment risk, for instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than a member may require to meet their objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return.
  • Members should still ensure they are comfortable with the risks and potential losses associated with their chosen investment option/s.

KDEG-013101-2018

Effective 1 April 2017 the minimum monthly Portfolio Management Charge for the Zurich Superannuation Plan and Zurich Account-Based Pension, increased from $21.56 to $21.88.

As disclosed in the PDS, the increase has been calculated on the Consumer Price Index (‘CPI’) increase measured over the 12 months ending 31 December of the previous year (ie. 2016). The CPI is the “Weighted Average of Eight Capital Cities Index” published by the Australian Bureau of Statistics.

KDEG-012133-2017

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Information Booklet on Investment options: Change in objective for the Zurich Global Thematic Share option

With effect 1 October 2015, the primary objective of the option is to provide long term capital growth with the benefits of global diversification. The option aims to achieve risk adjusted returns that exceed the MSCI World (ex-Australia) Accumulation Index in $A (net dividends reinvested) over periods of seven or more years.

KDEG-010735-2015

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Information Booklet on Investment options: Change in objective for the Zurich Global Thematic Share option

With effect 1 October 2015, the primary objective of the option is to provide long term capital growth with the benefits of global diversification. The option aims to achieve risk adjusted returns that exceed the MSCI World (ex-Australia) Accumulation Index in $A (net dividends reinvested) over periods of seven or more years.

KDEG-010735-2015

Update to the Zurich Superannuation Plan / Zurich Account-Based Pension Additional information guide: death benefits

The following text is added at the end of the booklet:

From 1 July 2016 there will be a change in the way death benefits are paid. From that date, the arrangements described elsewhere in this booklet will no longer apply and the following will apply instead:

What happens on death?

Binding Death Benefit Nomination (ZSP and ZSBP)

If you die with a valid Binding Death Benefit Nomination, the Trustee must pay your death benefit to your nominated beneficiaries in the proportions specified in the nomination.  

For a nomination to be valid:

  • The proportion  of your death benefit to be paid to each beneficiary must be clearly set out (and total 100 per cent)
  • The nomination must be signed and dated by you in the presence of two witnesses, both of whom are over 18 years of age and are not nominated to receive a benefit
  • The nomination must have been made, or confirmed within 3 years of the your death and
  • You must not have revoked your nomination.


Each nominated beneficiary must be your Dependant (refer below), or your Legal Personal Representative (generally the executor of your will or the administrator of your estate).

Generally, you may choose for benefits to be paid as a lump sum or as a pension.  However, it must be paid as a lump sum if  the benefits are payable to your Legal Personal Representative or to a child aged over 18, unless the child is: 

  • Under 25 and financially dependent on you immediately prior to your death, or
  • Permanently disabled.
     

Definition of Dependant

A Dependant includes:

  • Your current spouse (including de facto spouse) of either gender,
  • Your children of any age (including adopted children, stepchildren and your spouse’s children),
  • Someone who is financially dependent on you, or
  • Someone with whom you have an ‘interdependency relationship’


Two people have an ‘interdependency relationship’ if:

  • They have a close personal relationship;
  • They live together; and
  • One or each of them provides the other with financial support; and
  • One or each of them provides the other with:
    • Domestic support and personal care, but not if one of them provides domestic support and personal care to the other under an employment contract or a contract for services or on behalf of another person or organisation such as a government agency, a body corporate or a benevolent or charitable organisation; or
    • Support or care of a type and quality normally provided in a close personal relationship, rather than by a mere friend or flatmate 
  • Two people also have an interdependency relationship if they have a close personal relationship but they do not meet the other requirements of interdependency because:
    • Due to either or both of them suffering from a disability including a physical, intellectual or psychiatric disability, or
    • They are temporarily living apart. 


A Dependant must be alive and meet the definition of Dependant immediately before your death.

What if a nominated beneficiary is not your Dependant or your Legal Personal Representative?

In such cases, the portion of the benefit to be paid to that nominated beneficiary will be paid as if there is no valid Binding Death Benefit Nomination.

No nomination

Where there is no valid Binding Death Benefit Nomination, the Trustee must pay the death benefit (or applicable proportion) in accordance with the trust deed. This generally means that the benefit will be paid to your Legal Personal Representative, unless the Trustee:

  • Is unable to identify  your Legal Personal Representative within 6 months of the Trustee being notified of your death; or
  • Has reason to believe your estate is insolvent


If either of the above apply, benefits are instead paid to spouses or, if none, children in equal shares (where there are more than one).  For example, if you have no spouse and two children, both children would receive 50 per cent. 

Note that a person is only a 'spouse' or a 'child' if the Trustee is aware of the person's existence and is satisfied of their status as such.

If there is no spouse or child, then the Trustee must pay the death benefit to your Legal Personal Representative (even if the estate is insolvent) or deal with the death benefit under applicable laws relating to unclaimed super. 

Making a Binding Death Benefit nomination

For further information on binding nominations, including the nomination form, please ask your financial adviser to provide you with a copy of the Zurich Super Estate Management Binding Nomination brochure. Alternatively a copy of the brochure can also be obtained by contacting the Zurich Client Service Centre on 131 551 or through our website at www.zurich.com.au. There may be taxation or other implications to consider. You should consult your financial adviser for information regarding the nomination of a beneficiary.

You must confirm your nomination every 3 years in order for it to remain valid. You can do this by giving us a written notice, signed and dated by you, to that effect before it expires, or simply complete the confirmation form we send to you. It is your responsibility to ensure your Binding Death Benefit Nomination is confirmed before it expires.

If you wish to amend your nomination, you need to complete and submit a new binding nomination form which will then completely replace all previous nominations.

Reversionary pensioner nomination (ZABP only)

Instead of a Binding Death Benefit Nomination, under the ZABP, you can alternatively elect a reversionary pensioner. Your reversionary pensioner must be a Dependant who is eligible to receive a pension (as explained above).

If you elect a reversionary pensioner, in the event of your death, the regular payments will continue to be made to the Dependant you nominate as a reversionary pensioner on the application form. Only one reversionary pensioner can be nominated, who must be nominated when your pension is commenced.

If your reversionary pensioner dies before you, or your reversionary pensioner is not a Dependant (or in the case of a spouse, no longer your spouse) at the time of your death, your nomination will become invalid and the money will be paid as if there is no nomination in place (as explained above).

If payments to the reversionary pensioner have commenced, and the reversionary pensioner subsequently dies whilst still entitled to a pension, the balance of the benefit will be paid as if the reversionary pensioner is you and there is no nomination in place (refer above).

A reversionary pensioner nomination is binding on the Trustee and is irrevocable. This means that you cannot change your decision once you have nominated a reversionary pensioner. The only way to change your nomination  is to commute your pension (provided you did not elect to make it non-commutable when setting it up) and then set up a new one.

Making a reversionary pensioner nomination may have taxation and other implications. We recommend you discuss the appropriateness of such a nomination with your financial adviser.

KDEG-010554-2015

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension PDS: Taxable component of superannuation lump sum

The taxable component of a superannuation lump sum is as follows:

Below preservation age*:             Whole amount - 20% + medicare levy

Preservation age* to 59:               Amount up to low rate cap* - Nil
                                                           Amount above low rate cap* - 15% + medicare levy

Age 60 and above:                        Whole amount - Nil

*For information regarding your preservation age and the low rate cap amount, refer to the Superannuation Rates & Thresholds page.

KDEG-010274-2015

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension Information Booklet on Investment options: Zurich Equity Income option fee reduction

With effect 1 July 2015, the Indirect Cost Ratio (Investment management cost deducted from the underlying assets) reduced from 1.87% pa to 1.39% pa.

KDEG-010274-2015

Update to the Zurich Superannuation Trustee Investment Plan Information Booklet on Investment options: Zurich Equity Income option fee reduction

With effect 1 July 2015, the Indirect Cost Ratio (Investment management cost deducted from the underlying assets) reduced from 1.87% pa to 1.39% pa.

KDEG-0102735-2015

Update to the Zurich Superannuation Plan & Zurich Account-Based Pension PDS and Fee Guide: Increase to the minimum Monthly Portfolio Management Charge

Effective 1 April 2015 the minimum monthly Portfolio Management Charge for the Zurich Superannuation Plan and Zurich Account-Based Pension, increased from $20.85 to $21.20.

As disclosed in the PDS, the increase has been calculated on the Consumer Price Index (‘CPI’) increase measured over the 12 months ending 31 December of the previous year (ie. 2014). The CPI is the “Weighted Average of Eight Capital Cities Index” published by the Australian Bureau of Statistics.

KDEG-010274-2015

Update to the Zurich Superannuation Trustee Investment Plan PDS:  Increase to the minimum Monthly Portfolio Management Charge

Effective 1 April 2015 the minimum monthly Portfolio Management Charge for the Zurich Superannuation Trustee Investment Plan (ZSTIP), increased from $20.85 to $21.20.

As disclosed in the PDS, the increase has been calculated on the Consumer Price Index (‘CPI’) increase measured over the 12 months ending 31 December of the previous year (ie. 2014). The CPI is the “Weighted Average of Eight Capital Cities Index” published by the Australian Bureau of Statistics.

KDEG-0102735-2015

Updates to the Zurich Superannuation Plan and Zurich Account-Based Pension PDS (and Investment Option Booklet): Standard Risk Measure information
The Standard Risk Measure is based on industry guidance to allow members to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period.
Investment options are graded across seven ‘risk bands’, from ‘very low risk’ to ‘very high risk’ (refer to the table below).

Risk Band Risk Label Estimated number of negative annual returns over any 20-year period
1 Very low Less than 0.5
2 Low 0.5 to less than 1
3 Low to medium 1 to less than 2
4 Medium 2 to less than 3
5 Medium to high 3 to less than 4
6 High 4 to less than 6
7 Very high 6 or greater

 

The system also estimates how many negative annual returns are expected for each option over a 20-year period, to give you a clear idea of how a particular risk level may affect a long-term investment.


The Standard Risk Measures at 31 December 2014 are as follows:

Investment option Standard Risk Measure
Capital Stable Low
Cash Very Low
Australian Fixed Income Low
Balanced Medium
Managed Growth Medium to High
Australian Property Securities Very High
Global Property Securities High
Equity Income High
Global Equity Income Very High
Priority Growth High
Managed Share High
Australian Value Share High
Global Thematic Share Very High
Global Growth Share Very High
Colonial First State – Australian Shares High

 

Note:

  • The Standard Risk Measure is not a complete assessment of all forms of investment risk, for instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than a member may require to meet their objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return.
  • Members should still ensure they are comfortable with the risks and potential losses associated with their chosen investment option/s.

KDEG-009888-2015

Archive

Fee definitions

The following types of fees shown in the Zurich Superannuation Plan / Zurich Account-Based Pension PDS (‘PDS’) have the following meaning in superannuation legislation.

How the fees apply is set out in the PDS. Note that the Zurich Superannuation Plan and Zurich Account-Based Pension are not MySuper Products.

PDS issued by Equity Trustees Superannuation Limited ('ETSL') ABN 50 055 641 757, AFSL 229757.

A fee is an activity fee if:

a) the fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee,
    i) that is engaged in at the request, or with the consent, of a member, or
    ii) that relates to a member and is required by law, and

b) those costs are not otherwise charged as an administration fee, an investment fee, a buy-sell spread, a switching fee, an advice fee or an insurance fee.

An administration fee is a fee that relates to the administration or operation of the superannuation entity and includes costs that relate to that administration or operation, other than:

a) borrowing costs; and

b) indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an interposed vehicle or derivative financial product; and

c) costs that are otherwise charged as an investment fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

A fee is an advice fee if:

a) the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:

i. a trustee of the entity, or
ii. another person acting as an employee of, or under an arrangement with, the trustee of the entity, and

b) those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an insurance fee.

A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity.

An exit fee is a fee, other than a buy-sell spread, that relates to the disposal of all or part of members’ interests in the superannuation entity.

The indirect cost ratio (ICR), for a MySuper product or an investment option offered by a superannuation entity, is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the superannuation entity attributed to the MySuper product or investment option.

Note: A dollar-based fee deducted directly from a member’s account or paid out of the superannuation entity is not an indirect cost.

A fee is an insurance fee if:

a) the fee relates directly to either or both of the following:

i. insurance premiums paid by the trustee of a superannuation entity in relation to a member or members of the entity,
ii. costs incurred by the trustee of a superannuation entity in relation to the provision of insurance for a member or members of the entity, and

b) the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk, and

c) the premiums and costs to which the fee relates are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an advice fee.

An investment fee is a fee that relates to the investment of the assets of a superannuation entity and includes:

a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees), and

b) costs that relate to the investment of assets of the entity other than:

i. borrowing costs; and
ii. indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees incurred by the trustee of the entity or an interposed vehicle or derivative financial product; and
iii. Costs that are otherwise charged as an administration fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

A switching fee for a:

a) MySuper product means is a fee to recover the costs of switching all or part of a member’s interest in a superannuation entity from one class of beneficial interest in the entity to another and,

b) for superannuation products other than a MySuper product, is a fee to recover the costs of switching all or part of a member’s interest in the superannuation entity from one investment option or product in the entity to another.