Superannuation (PSSAP) Unit Pricing Determination 2005

This Determination is the Superannuation (PSSAP) Unit Pricing Determination 2005.

This Determination commences on 27 July 2005.

In this Determination:

"actuarial report" means the report titled "Public Sector Superannuation Scheme - Accumulation Plan (Unitisation - 30 June 2005 Report)" prepared for the PSS/CSS Boards and dated 27 June 2005.

"PSSAP member" means a member of the Public Sector Superannuation Accumulation Plan.

"relevant unit" means each unit that makes up a PSSAP member's interest in the Public Sector Superannuation Accumulation Plan.

Note An interest in the Public Sector Superannuation Accumulation Plan is valued in units. Contributions made to the Plan, and other amounts transferred in, are used to buy units in the investment option or options chosen by a PSSAP member.

A record is kept of all units held by a PSSAP member: this is the member's personal accumulation account.

"Rules" means the Rules for the Administration of the Public Sector Superannuation Accumulation Plan set out in the Schedule to the Trust Deed.

"Trust Deed" means the Trust Deed mentioned in section 10 of the Superannuation Act 2005.

Words and expressions defined in the Rules and this Determination have the meaning given by the Rules.

Note Words and expressions defined in the Act and this Determination have the meaning given by the Act.

Part 2 Unit prices

Do not delete : Division Placeholder

For the purposes of ascertaining the value of a relevant unit, buy and sell prices are set out in Schedules 1 and 2.

Note 1 Under the system of creating units in the Public Sector Superannuation Accumulation Plan, the fund earnings or losses on a PSSAP member's personal accumulation account are reflected in the value of each relevant unit in that account. This is expressed as a "buy price" and a "sell price" for the relevant unit. The unitisation system is explained in the actuarial report.

Note 2 Schedule 1 covers the initial period of the PSSAP Scheme, commencing on 1 July 2005. The last buy and sell prices in that Schedule will apply until the first buy and sell prices are specified in Schedule 2.

A buy price and sell price are not necessarily determined for each day, so the Schedules do not refer to weekends and may not refer to other days such as bank holidays.

The buy prices and sell prices must be applied in relation to the relevant unit in accordance with the actuarial report.

The buy and sell prices for the last day specified in Schedule 1 apply to every subsequent day until the first buy or sell price is specified in Schedule 2.

A buy or sell price specified in Schedule 2 for a particular day applies to every subsequent day until another buy or sell price is specified in that Schedule.

Schedule 1 Buy price and sell price (subsection 4 (1))

Item Date Investment Option Buy price

$ Sell price

$

Balanced 50/50 1.002619 0.998517

Trustee Choice 1.003053 0.998549

Aggressive 1.003633 0.998728

Cash 1.000143 1.000143

Bonds / Fixed Interest 1.000461 0.998362

Australian shares 1.000167 0.996175

International shares (unhedged) 1.015584 1.009913

International shares (hedged) 1.006779 1.001157

Property 1.004152 0.996150

Sustainable 1.002980 0.996980

Balanced 50/50 1.002797 0.998694

Trustee Choice 1.003845 0.999338

Aggressive 1.004777 0.999866

Cash 1.000511 1.000511

Bonds / Fixed Interest 0.999021 0.996925

Australian shares 1.001927 0.997928

International shares (unhedged) 1.015630 1.009959

International shares (hedged) 1.007844 1.002216

Property 1.004541 0.996537

Sustainable 1.002920 0.996920

Item Date Investment Option Buy price

$ Sell price

$

Balanced 50/50 1.004121 1.000012

Trustee Choice 1.006089 1.001572

Aggressive 1.007941 1.003015

Cash 1.000640 1.000640

Bonds / Fixed Interest 0.998241 0.996147

Australian shares 1.005156 1.001144

International shares (unhedged) 1.031308 1.025549

International shares (hedged) 1.011741 1.006091

Property 1.004677 0.996672

Sustainable 1.002900 0.996900

Balanced 50/50 1.003055 0.998951

Trustee Choice 1.004027 0.999519

Aggressive 1.005038 1.000125

Cash 1.000750 1.000750

Bonds / Fixed Interest 0.998867 0.996772

Australian shares 0.999272 0.995282

International shares (unhedged) 1.027687 1.021948

International shares (hedged) 1.010065 1.004425

Property 1.004794 0.996787

Sustainable 1.002880 0.996880

Item Date Investment Option Buy price

$ Sell price

$

Balanced 50/50 1.001234 0.997137

Trustee Choice 1.000890 0.996396

Aggressive 1.000708 0.995817

Cash 1.000879 1.000879

Bonds / Fixed Interest 0.999211 0.997115

Australian shares 0.990652 0.986697

International shares (unhedged) 1.026569 1.020837

International shares (hedged) 1.007097 1.001473

Property 1.004931 0.996923

Sustainable 1.002860 0.996860

Balanced 50/50 1.003076 0.998972

Trustee Choice 1.003171 0.998667

Aggressive 1.003793 0.998887

Cash 1.000993 1.000993

Bonds / Fixed Interest 0.999557 0.997460

Australian shares 0.989793 0.985842

International shares (unhedged) 1.032612 1.026845

International shares (hedged) 1.016111 1.010436

Property 1.005052 0.997043

Sustainable 1.002840 0.996840

Item Date Investment Option Buy price

$ Sell price

$

Balanced 50/50 1.005386 1.001273

Trustee Choice 1.007046 1.002524

Aggressive 1.009062 1.004130

Cash 1.001362 1.001362

Bonds / Fixed Interest 0.998801 0.996706

Australian shares 0.997859 0.993875

International shares (unhedged) 1.036867 1.031077

International shares (hedged) 1.021782 1.016076

Property 1.005442 0.997430

Sustainable 1.002779 0.996781

Balanced 50/50 1.005114 1.001001

Trustee Choice 1.006820 1.002299

Aggressive 1.008782 1.003851

Cash 1.001490 1.001490

Bonds / Fixed Interest 0.998092 0.995999

Australian shares 0.997220 0.993239

International shares (unhedged) 1.029716 1.023966

International shares (hedged) 1.022182 1.016474

Property 1.005577 0.997565

Sustainable 1.002759 0.996761

Item Date Investment Option Buy price

$ Sell price

$