Fund profiles

PSS Accumulation Plan
Your Government Super at Work	Principal Contact: Alison Tarditi & Paul Watson  Chief Executive Officer Telephone: Member Telephone: Fax: (02) 6263 6999 1300 725 171 (02) 6263 6900 Address: GPO Box 1907 Canberra ACT 2601 Website: Email: www.aria.gov.au secretary@aria.gov.au
Overview:	The PSSap provides superannuation products and services to employees of the Australian Government and participating employers. The PSSap is a 'profit-for-members' fund, which means that, after fees, management costs and taxes, investment earnings are returned to members. Employers contribute to our administration costs so members pay less and we pay no commissions to financial planners. Everything we do is aimed at helping past, present and future Australian Government employees and their families make the most of their financial future. The PSSap is managed by ARIA, who also manages the PSS, which was closed to new members on 30 June 2005, and the CSS, which was closed to new members on 30 June 1990. As of September 2007, ARIA had over $18.8 billion funds under management and provided superannuation products and services to over 331, 000 members, 130,000 pensioners and 221 Australian Government employers. We value our responsibility to manage and invest the Fund to maximize the benefits to members and to act in me members best interests. In 2003, we received a United Nations awarded for our investment governance program. ARIA is also a signatory to the United Nations Principles of Responsible Investment (UNPIR).
Year of Establishment:	2005
Value of Funds:	$581.9 million
Key Features:	'Profit for members' fund High-level employer contribution of 15.4% helps members build their super faster Cost-efficient administration and investment management, and no commissions to financial planners keep costs low for members 11 investment options, including pre-mixed and 'mix-your-own', gives members control of their financial future Choice of two insurance options and a high-value income protection option helps members' protect their family's financial wellbeing in the event of sickness, injury or death World class customer services which members can access online, by phone, email, fax or letter Award-winning education program helps members (and their employers) acquire knowledge and skills to manage their super with confidence Access to low-cost home loans, banking + financial advice
Administrator:	Commonwealth Superannuation Administration (ComSuper)
Auditor:	Australian National Audit Office
Custodian:	JPMorgan Chase Bank N.A.
Investment Advisor:	JANA Investment Advisers Pty Ltd
Lawyers:	Mallesons Stephen Jaques Blake Dawson Waldron Allens Arthur Robinson Henry David York  Australian Government Solicitor

INVESTMENT OPTIONS
Conservative	To outperform the CPI by 3% per annum over the medium to long term
Balanced 50/50	To outperform the CPI by 4% per annum over the medium to long term
Trustee Choice (default)	To outperform the CPI by 4.5% per annum over the medium to long term
Aggressive	To outperform the CPI by 5% per annum over the medium to long term
Cash	To match the performance of the UBS Warburg Australian Bank Bill Return Index, after tax
Bonds/ Fixed Interest	To at least match the performance of a composite index comprising 75% Lehman Global Agg 100% Hedged Index and 25% UBS arburg Australian Composite Bond All Maturities Index, after tax
Australian Shares	To at least match the performance of the ASX300 excluding ASX300 Listed Property Trusts Index, after tax
International Shares (unhedged)	To at least match the investment performance of the Morgan Stanley Capital International World excluding Australia Unhedged AUD Index, after tax
International Shares	To at least match the performance of the Morgan Stanley Capital International World excluding Australia 100% Hedged AUD Index, after tax
Property	To at least match the performance of the Mercer Direct Property Index, after tax

Investment Performance (crediting rates) Growth Asset Weighting Performance to 30 June 2007   1yr 3yr 5yr Conservative 27-35% 9.3% - 9.2% Balanced 50/50 47-53% 12.2% - 12.0% Trustee Choice (default) 50-90% 16.7% - 16.8% Aggressive 87-93% 20.3% - 20.7% Cash 0% 5.2% - 5.3% Bonds/ Fixed Interest 0% 3.0% - 2.4% Australian Shares 100% 25.8% - 29.6% International Shares (unhedged) 100% 10.9% - 9.2% International Shares (hedged) 100% 21.1% - 19.6% Property 100% 14.4% - 11.3% Sustainable 100% 24.1% - 30.5%

Note: Performance is after tax and fees.

Insurance Available:	Death / TPD, Income Protection. Two options of death and TPD cover, salary based or unit based, depending on eligibility.
Extra Benefits:	Financial Planning, Financial Seminars, Home Loans, Non-super Savings Options, Online Account Details, Online Transactions, Retirement Planning. Banking products listed above available through Members Equity; financial planning services available through State Super Financial Services Pty Ltd (ARIA owns 17.5% of SSFS). Full range of administration tools and services including systems support, training and information services to assist employers administrate super and maximise the benefits for their orgnisation.
Communications:	Half-Yearly Employer Reports, Half-Yearly Employee Reports & Statements, Quarterely Newsletters, Publications and monthly investment performance available on website. Regular updates from CEO and CIO online, as well as seminars and e-newsletters.
Employer Services:	Seminar program including on-site education and training.

FEES
Management Cost - investment fee (% p.a.)	Management cost ranging between 0.28% and 0.81%.
Switching fee	Nil for the first two switches in any financial year; additional switches are $20 each.
Other	A buy/sell spread ranging  0.105% - 0.400%; Reconsideration fee $150 (fee charged for each request for reconsideration by ARIA of a decision made by ARIA;  the fee is refunded if request for reconsideration is not accepted or if decision is reversed in favour of member).

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