Tasplan maintains stringent guidelines and investment strategies that apply to our investments as a whole, as well as to each of the investment options.

Benchmark asset allocations
Tasplan maintains benchmark asset allocations for each of our five investment options. The benchmark figures reflect the long-term average allocation to each asset class.

Over shorter periods, the actual allocations may differ from the benchmark due to the relative performance of the different asset classes and investment managers. Actual investment figures are reported each year in the Annual Report.

Benchmark figures only change when Tasplan changes the overriding investment strategy for that option.

Benchmark allocations for all investment options are detailed in the Member investment choice booklet and the Product Disclosure Statement (PDS) (44 pages, 5megabyte). You can obtain a copy by giving us a call on Freecall 1800 005 166.

How Tasplan sets interest rates
Tasplan sets a monthly interim *crediting rate for each of the 5 investment options, based on the actual performance in that month. These rates are determined after allowances for tax, expenses and any other relevant factors.

Where the monthly interim crediting rate is not yet known, a cash rate will apply for that respective month, or part thereof. This is known as the interim cash crediting rate.

Interim rates will apply to members who have their benefit paid, or who switch investment options, during the year.

A combination of the individual monthly interim crediting rates from the 1st July each year is known as the year-to-date interim crediting rate.

At the end of each financial year, once all income, tax accruals and expenses are known for the year, the Trustee will determine the final monthly crediting rates for each of the 5 investment options. These rates are not expected to differ significantly from the monthly interim crediting rates previously determined. These rates are referred to as the Fund's Annual Crediting Rates, and are the rates used in our marketing material and brochures.

For members who switch between investment options, or who have their benefit paid out from Tasplan, the amount paid / switched will be:

• Your opening balance, i.e the account balance when interest was last credited to your account (generally the previous 1 July)
• PLUS any subsequent contributions added to your account
• LESS any subsequent fees, insurance premiums, tax and other withdrawals
• PLUS interest earned using the relevant monthly interim crediting rates and interim cash crediting rates

*crediting rate is simply another term for the interest rate that we use to credit your account. Crediting Rates may differ from the funds Earning Rates due to the deductions made by the Trustee (e.g. Expense Recovery Fee).

Reserving policy
Prior to the introduction of member investment choice on 1 July 1999, Tasplan maintained a Reserve that was sometimes used to "smooth" investment returns in periods of poor performance.

Since the introduction of member investment choice, Tasplan does not maintain an Investment Reserve and crediting rates reflect the actual earnings for the period.

Tasplan does maintain a small administration reserve to allow the Trustee to maintain equity between members and to ensure that Plan expenses can always be met.

Trustee procedures
While Tasplan employs professional investment managers and an asset consultant to provide expert advice, ultimate responsibility for all Plan activities, including investments, rests with the Trustee Board.

This is a significant responsibility under legislation and industry bodies such as APRA (Australian Prudential Regulation Authority) and ASIC (Australian Securities and Investments Commission) closely monitor superannuation fund Trustees to make sure they act responsibly and in the best interests of members.

The Tasplan Trustee maintains a system of procedures, checks and balances to achieve decision-making that is consistent with previously established investment strategies and objectives.

Trustee Directors undertake regular training in regard to investments and other superannuation issues.

The Trustee Board meets a minimum of 8 times each year. Investment performance is monitored at least monthly with all investment managers measured against industry benchmarks and Tasplan's required performance standards.

In cases of ongoing poor performance or non-compliance with Tasplan's requirements, investment managers can be terminated.

Tasplan maintains a constant watch on the leading investment managers in each field and does not hesitate to either terminate or appoint managers as required. In the same way, Tasplan keeps a close eye on the asset allocation of our investment options and makes changes when necessary, either as a result of market performance or member demand.

Tasplan Investment Policy Statement

Click here to see Tasplan's Investment Policy Statement.