Significant event notices
We have a responsibility to tell our members about material changes to the Fund, especially if the change could have an impact on retirement savings.
A change (or event) is any decision that will affect a member’s investment. This could be a change to fees and costs, a change to insurance cover or premiums, or where a member’s benefit maybe transferred without their consent.
The message sent out to affected members, telling them about the decision and its impact, is called a significant event notice.
We usually communicate these notices via MoneyWise, email or mail, but if an event occurs outside of the publication schedule, we will send a separate communication.
Timing of a significant event notice
- Change or event that does not relate to an increase to a fee or charge will be sent as soon as possible, but not later than three months after the change or event occurs.
- Change or event that does increase a fee or charge will be sent at least 30 days before it occurs.
NGS Super Significant Event Notice
Changes to NGS Super exit fee effective 1 December 2016 and Investment options effective 1 October 2016
– issued to all members with their 2015/2016 Annual Statement distributed from 29 August 2016.
– issued to new members who joined between 1 July to 30 September 2016 from 4 November 2016. This included the following notice:
Whilst the increase to the exit fee becomes effective on 1 December 2016, you will not be charged the higher rate if you withdraw or exit before 9 December 2016.
The following Significant Event Notice was issued to all members and included the following information.
- Changes to the exit fee from 1 December 2016 (does not apply to NGS Income Account)
- Changes to some Investment option Performance Objectives effective 1 October 2016
- Changes to the Dynamic Asset Allocations and Strategic Asset Allocations for some investment options effective 1 October 2016.
Please select the ‘more information’ button for a copy of the notice: