Download note to staff - Towers Watson

ABOUT THE OSF
The Reserve Bank of Australia Officers’ Superannuation Fund (OSF) is a non-public offer, complying
superannuation fund that provides benefits exclusively to employees of the Reserve Bank of Australia (RBA),
Note Printing Australia Limited (NPA) and the Australian Prudential Regulation Authority. It had almost
2 650 members and $1.29 billion of assets as at 30 June 2016.
The OSF is governed by a trust deed and overseen by the OSF Board of Trustees which consists equally of
representatives appointed by both the RBA and members.
The OSF was historically the default super fund for the RBA and NPA. However, government changes mean that
employees who want to join the OSF must now actively elect to become members.
CHOICE OF FUND
You can choose the fund into which the RBA or NPA directs your superannuation contributions. If you do not
make a choice, your superannuation contributions will be sent to AustralianSuper, the nominated default
superannuation fund of the RBA and NPA. Before making any decision, you should consider all aspects of your
superannuation carefully. Please contact the OSF Membership team on 1800 001 474 for further information on
the way in which you may make that choice.
BENEFITS OF INVESTING WITH OSF
The Trustees’ objective is to provide low cost, quality superannuation products that provide value to
beneficiaries, and to deliver a high level of service to members. New OSF members join the Accumulation
division of the OSF.
The OSF provides the following benefits to members:

Simple, low fees - OSF members are not charged any administration fees. Underlying investment costs,
which are passed onto members, are low by industry standards. Other fees may apply in very limited
circumstances.

Investment Options - You can invest in one or more of a range of 10 investment options based on your
needs and risk preferences. There are five sector-specific investment options and five blended investment
options.

Insurance Cover - The OSF provides default Death and Total and Permanent Disablement (TPD) insurance
cover for eligible members, based on current salary and years to retirement. The OSF also allows
members to reduce their insurance cover to the legislative minimum (which is provided free of charge).

Governance – the OSF Board of Trustees has a strong member focus.
SUCCESSOR FUND TRANSFER
In July 2016, the Trustees agreed to transfer all of the benefits provided under the OSF to RB Super, a new subplan to be set up in Sunsuper Superannuation Fund (ABN 98 503 137 921), one of the largest superannuation
funds in Australia. From March-April 2017, OSF members will receive expanded services and equivalent or better
benefits in RB Super: see the attached Superannuation Matters newsletter and Fact Sheet for more details. In
the meantime it is “business as usual” at the OSF.
MORE INFORMATION ABOUT THE OSF
You can find further information about the OSF (including the Product Disclosure Statement and trust deed) on
the OSF website: https://super.towerswatson.com/rbaosf/publicinformation/publicdocuments. The OSF
Membership team (email: [email protected] or phone 1800 001 474) can also provide additional
information about the Fund.
This document is issued by the Trustees (ABN 82 534 724 258) of the OSF (ABN 25 303 030 489). The information in this document is
general information only and does not contain or imply any recommendation or opinion about a financial product or service. The
information does not take into account your individual financial objectives, financial situation or needs. Neither the OSF nor the RBA are
licensed to provide financial advice. You should consider seeking professional financial advice from a licensed financial planner before
making any decision about a financial product.