In 2020, the Trustee of the TAL Superannuation and Insurance Fund (the Fund), TAL Superannuation Limited (the Trustee), began a review of the arrangements it offered its members. At the time, it concluded that it was in the best interests of its Accelerated Protection members to be transferred to the Mercer Super Trust by a successor fund transfer (SFT). The SFT took place in November 2020.
In 2021, the Trustee continued a review of the arrangements it offered the Fund’s remaining members. It concluded that it was in the best interests of these members to transfer their membership to the Mercer Super Trust by an SFT.
In early May 2021, the Trustee sent Significant Event Notices (SENs) to all remaining members of the Fund advising them of the transfer. On 31 May 2021, the SFT took place.
You will find copies of the SENs in the Material Changes and Significant Event section below.
We are pleased to publish the following information about the Trustee and the Fund.
Constituent and Associated Documents
The governing document of the Trustee.
Trustee’s Board Charter
Sets out the role, responsibilities, authority and membership of the Trustee’s Board, and the protocols for Board meetings. Section 6 of the Board Charter sets the rules for the appointment, removal and replacement of Directors.
Trustee’s Financial Statements
A written report of the financial condition of the Trustee, which includes a balance sheet and income statement for the financial year ended on 31st March.
Fund’s Trust Deed
The set of rules about the management of the Fund, including what the Trustee can and can’t do.
Fund’s Financial Statements
A written report of the financial condition of the Fund for the financial year ended on 30th September.
Current Product Disclosure Statements
Information about your TAL superannuation product, including benefits and risks, costs, and the fees and charges that TAL receives.
TAL Staff Superannuation Plan
PrefSure and Partner Insurance
Lumley Life Limited (1993 - 1995)
Lumley Life Limited (1996 - 2003)
TOWER Protection Policy 2002 (Series 22)
TOWER Protection Policy 2003 (Series 23)
TOWER Protection Policy 2004 (Series 24)
TOWER Protection Policy 2005 (Series 25)
TOWER Protection Policy 2006 (Series 26)
TOWER Protection Policy 2007 (Series 27)
TOWER Protection Policy 2008 (Series 28)
Accelerated Protection 2009 – 2010 (Series 29)
Accelerated Protection 2010 – 2013 (Series 30)
Accelerated Protection 2014 (Series 32)
Accelerated Protection 2015 – 2016 (Series 33)
Accelerate 2007 – 2008 (Series 90)
Latest Annual Reports
Information about the management, financial condition and investment performance of the Fund.
TAL Superannuation and Insurance Fund
Annual Member Outcomes Assessments
Annual summary of the member outcomes assessment and determination.
Member Outcomes Assessment – 30 June 2020
Annual Members Meeting Minutes
Minutes for the Annual Members Meeting, held on 20 May 2021.
TASL Annual Members Meeting - Minutes - 20 May 2021
If you are looking for Disclosure Documents for a classic product that is not listed here, please call us on 1800 155 600, Monday to Friday between 8.30am – 5.30pm (AEST/AEDT). Or email us and we will be happy to send you a copy.
Material Changes and Significant Events
TAL Super Fund members whom were notified by mail of the transfer of policy ownership from TAL Superannuation and Investment Fund to Mercer Superannuation (Australia) Limited.
Significant Event Notice sent to members
Policy Upgrade Booklet
Changes to the PSP products effective from 1 December 2017.
Significant Event Notice
Changes to insurance cover for members whose account had been inactive for more than 16 months as at 1 July 2019.
Significant Event Notice
Changes to adviser service fees from 1 July 2019.
Significant Event Notice
Changes to insurance cover and fees for the ARC Classic Super – Series 3 product.
Significant Event Notice
Changes to product fees and features from 1 October 2020.
Significant Event Notice - ARC Master Trust
Significant Event Notice - ARC Classic Super Series 1, 2 and 3
Significant Event Notice - ARC Classic Super Series 4
Significant Event Notice - Retail Risk (Accelerated Protection)
Changes to product fees and features from 31 January 2021.
Significant Event Notice – ARC Classic Super Series 4
TAL Superannuation and Insurance Fund (TSIF) members whom were notified of the Successor Fund Transfer (SFT) to the Mercer Super Trust.
Significant Event Notice – ARC Master Trust and ARC Classic Super Series 1, 2, 3 and 4
Significant Event Notice – TAL Staff Superannuation Plan
Significant Event Notice – Annuities (TOWER Staff Pension and TOWER Superannuation Pension)
Significant Event Notice – Allocated Pension (TOWER Superannuation Fund)
Significant Event Notice – Retail Risk (Accelerated Protection, Accelerated Protection Policy, Business Mans Insurance, Crisis Care, FAI Risk Insurance, Life Term, Lifestyle Security Portfolio, Lumley Life, Partner Insurance Portfolio, PrefSure, Term Life Executive, Term Life Plus, Term Life, Tower Protection Policy and Yearly Renewable Term)
Significant Event Notice – TAL Risk Only Super Plan
Significant Event Notice – TAL Employee Insurance Plan
Directors and Executive Officers
Peter J. LewinskyBEc, MBA, FCA, FAICD, SFFin
Peter Lewinsky has conducted an advisory practice over the last 22 years, providing strategic, financial and governance advice to a wide range of public and private companies and government. He is an experienced government, not-for-profit and private sector company director and has chaired a number of Audit Committees. Prior to commencing his practice, Peter, a qualified Chartered Accountant, worked for investment banks and stockbroking firms in Australia and overseas.
Over the last 24 years, Peter has also advised Victorian, South Australian, Tasmanian, ACT and Federal governments, on a range of privatisation, industry re-structuring and industry reform issues. He is currently retained by the Department of Human Services, Primary Industries, Business and Innovation, and Sustainability & Environment in Victoria, for a range of assignments.
Steven J. HelmichDip FP, FANZII, SF Fin, MAICD
Before joining TAL, Steve Helmich successfully led AMP’s financial planning business through periods of reform and change. He was responsible for the strong growth in AMP Financial Planning and Hillross, as well as the establishment of the Horizons Financial Planning Academy. He is a past Chairman of the Financial Planning Association of Australia (2002 – 2004), a past Trustee & the Chair of Future2 (the foundation of the Australian Financial Planning Association) and a past Director and Chair of the global Financial Planning Standards Board (FPSB).
Steve, who is a graduate of the Advanced Executive Program (Kellogg Institute – Northwestern University), is also the Chairperson of Affinia Financial Advisers (TAL Group) and a Director of G&C Mutual Bank.
Alex HomerB.A. (Hons)
Alex Homer was appointed as TAL’s Chief Customer and Brand Officer in December 2018. Initially joining TAL in July 2014 as General Manager, CEO’s Office, Alex was appointed General Manager of Lifebroker in September 2014.
Since joining TAL, Alex has developed a number of digital propositions and extended these into some of our alliance partnerships. Prior to his current appointment, Alex was General Manager, Comparison and Alliances where he looked after Lifebroker and our direct distribution partnerships including our recent 20 year distribution partnership agreement with Suncorp.
Prior to joining TAL, Alex was Head of Strategy and a member of the executive team at Lloyds International, the Australian subsidiary of Lloyds Banking Group. Previously Alex was in the UK and performed a number of roles within Lloyds Banking Group across wealth management, retail and business banking and has experience working in Europe and the Middle East.
Paul ClearyLLB/BSc, GAICD
Paul Cleary is a corporate governance professional who has 25 years’ experience in the superannuation industry. He has a wide range of legal and corporate expertise, predominantly in the field of superannuation trusteeship, life insurance and managed investments, providing advice to trustee boards, management, life insurers and employers. Paul holds degree qualifications in law and science and is a graduate of the Australian Institute of Company Directors.
Paul joined TAL in June 2020 as the Trustee Advocate and heads the Office of the Trustee. In his role he is responsible for the strategic and governance functions of the Trustee in addition to championing the interests of members. This includes advising on and approving death and disability claims and ensuring that the interests of TSIF members are always given priority.
Conflict Management Arrangements
As TAL Life and TAL Services are related bodies corporate to the Trustee, the strategic partnership between them generates the following organisational conflicts:
TAL Life is directly paid by members to provide TASL with administration services and insurance policies.
TAL Services is indirectly paid by members to provide secondees, corporate services and facilities to TASL and TAL Life under a facilities agreement.
These conflicts, and the personal conflicts of the Trustee’s Directors and Executive Officers are documented in its Registers of Relevant Interests and Duties.
The Trustee has implemented a Conflicts Management Policy which requires it to adopt a four-stage approach to effectively manage organisational conflicts:
Identify conflicts relating to its business.
Assess and evaluate those conflicts.
Decide upon and implement an appropriate response to those conflicts which may include controlling, avoiding and/or disclosing the conflict. And,
Report on and monitor conflicts.
The Conflict Management Policy also requires Directors to:
Disclose conflicts to all interested parties
Abstain from participating in making decisions that may be, or be seen to be affected by, the conflict, or
Remove the conflict.
How the Fund works
The Trustee issues a range of products from the Fund that provide investment and/or insured benefits for members.
The following companies provide services that support these products:
TAL Life Limited ABN 70 059 109 450
Administers the Fund for the Trustee and provides life policies that support insured benefits for members.
TAL Services Limited ABN 60 076 105 130
Provides the Trustee with the corporate services, seconded staff and resources it needs to perform its duties as trustee of the Fund.
Mercer Investments (Australia) Limited ABN 66 008 612 397
Provides the trustee with implemented asset consulting services that support investment benefits for members.
The investment options invest in one or more managed investment schemes selected by the Trustee on the advice of the implemented asset consultant.
As the Fund is fully invested in managed investment schemes, it does not directly own any shares in listed companies with voting rights attached to them. However, the Trustee will exercise voting rights attached to units in managed investment schemes it owns in the best interests of members, with the objective of preserving and increasing the value of their superannuation in the Fund.
All benefit payments are made subject to the superannuation law and the Fund’s governing rules. Details are documented in the TAL Superannuation Death Benefits brochure.