Section 1 – TIC Retirement Plan, an Overview

TIC Retirement Plan (the ‘Plan’ or ‘the TIC Plan’) caters for employed and self-employed individuals and can accept contributions and rollover amounts from individuals without requiring employer contributions. The Plan consists of TIC Employer Sponsored Super, TIC Personal Super and TIC Pensions, which are subplans of Industry Superannuation Australia Retirement Funds (ISARF). Please note that ISARF is not an industry fund as defined by the Industry Funds Forum and it was not established under an industrial award.

The TIC Plan is a flexible, cost-effective superannuation product offered through ISARF (a public offer superannuation fund) that is designed to meet the superannuation needs of members by providing retirement and disability benefits to members and death benefits to their dependants.

The main features of TIC Employer

Sponsored and Personal Super are:

employers and individuals can make superannuation contributions
members can make contributions on behalf of their spouse
benefits can be rolled over from another superannuation fund; and
benefits can be rolled over within the Plan.

TIC Pensions

TIC Pensions includes two options to cater for your retirement income needs.

• A Transition to Retirement Pension is designed to assist your transition to retirement. Once you have reached your ‘Preservation Age’ (see the table under Preservation), you can start a  Transition to Retirement Pension which allows you to access your superannuation as an income stream while you are still working.
• An Account-Based Pension is a flexible way to provide income in your retirement from your superannuation savings, whilst retaining the tax advantages of superannuation.

Investment Options

The investment options in TIC Employer Sponsored Super, TIC Personal Super and TIC Pensions are identical. This means that you have a seamless strategy where you can easily transfer your
account from TIC Employer Sponsored or Personal Super through to TIC Pensions.

Refer to Section 4 for further information on the investment options available.

Insurance Cover

Members of TIC Employer Sponsored Super and TIC Personal Super can access insurance cover at group rates through the Fund (insurance cover is not available through TIC Pensions). The types of cover available are:

• Death cover
• Total and Permanent Disablement(TPD) cover
• Salary Continuance cover.
   

In addition, employees of companies who use TIC Employer Sponsored Super as their ‘default’ fund may have access to reduced insurance rates through an Employer Plan.

If you’re a member of TIC Employer Sponsored Super, and you change employers or cease employment, your insurance cover will be transferred to TIC Personal Super. Your insurance will
continue at the same level of cover and be based on the applicable premium rates under TIC Personal Super. So you can stay with the Plan if your employment circumstances change and you can also change your investments, contributions and insurance as your lifestyle needs change.

Further Information 

Should you require any further information about the services or issues covered in this PDS, or require any clarification, you should contact the Plan (details on the inside front cover).