Product Disclosure Statement

Local Government Super Accumulation Scheme

Product Disclosure Statement

Contents1. About Local Government Super (LGS) Accumulation Scheme .............................................................12. How super works .................................................................................................................................................................23. BenefitsofinvestingwiththeLGSAccumulationScheme .......................................................................34. Risksofsuper .........................................................................................................................................................................45. How we invest your money ............................................................................................................................................56. Fees and costs.........................................................................................................................................................................87. How super is taxed ..........................................................................................................................................................118. Insurance in your super ..................................................................................................................................................129. How to open an account ..............................................................................................................................................1310. Furtherinformation ..................................................................................................................................(back cover)

Important information

ThisProductDisclosureStatement(PDS)providesasummaryofthesignificantinformationyouneedtoconsiderbeforemakingadecisionaboutthisproduct.ItincludeslinkstoimportantinformationwhichformspartofthisPDS.TheimportantinformationisincorporatedbyreferenceintothisPDSviafactsheets.YoumayobtainacopyofthePDSandthefactsheetsfreeofchargefromlgsuper.com.au/PDSorbycontactingMemberServiceson1300LGSUPER(1300547873).AfulllistofthefactsheetsiscontainedinSection10ofthisPDS.

Theinformationcontainedinthefactsheetsmaychangebetweenthetimeyoureadthisstatementandthedayyousigntheapplicationform,whichisavailableatlgsuper.com.au/PDS (pleasenotethatyouareonlyrequiredtocompleteandsigntheapplicationformifyouelecttojointhePublicOfferDivision).

Issued 1 July 2020

ThisdocumenthasbeenissuedbyLGSSPtyLimited(ABN68078003497)(AFSL383558),asTrusteeforLocalGovernmentSuper(ABN28901371321).Thisdocumentcontainsgeneralinformationonlyandisnotintendedtobeasubstituteforadvice.Itdoesnottakeintoaccountyourinvestmentobjectives,financialsituationorparticularneeds.Youshouldobtainadvicetailoredtoyourpersonalcircumstances.Accordingly,youshouldconsidertheinformationhavingregardtoyourpersonalcircumstancesandconsidertheinformationcontainedinthisPDSbeforemakingadecisionabouttheproduct.

1

ACCUMULATION SCHEME

LGSSPtyLimited,theTrusteeofLocalGovernmentSuper(LGS),wasestablishedasaprofit-to-membersindustryschemeon30June1997.TheTrusteeofLGSissolelyengagedinthemanagementandcontrolofLGSanditsassetsforthebenefitofmembers.

ThisPDSrelatesspecificallytotheLGSAccumulationSchemewhichcontainstwodivisions.Oneisanemployersponsoreddivision,mainlyforpeoplewhoareemployedbyanLGSparticipatingemployeraslistedundertheLGSTrustDeed(suchasNSWcouncils).Theotherisapublicofferdivisionwhichisopenforanyoneeligibletojoinasuperannuationfund.PleaserefertotheAbout Local Government Super (LGS) Accumulation Schemefactsheetformoreinformationaboutthemembersineachdivision.ThebenefitsandfeaturesoftheLGSAccumulationSchemeareoutlinedonpage3.

TheLGSAccumulationSchemeoffersthefollowingsixinvestmentoptions

l HighGrowth1 l Balanced Growth1

l Balanced1 l Conservative1

lManagedCash l MySuperAgeBasedInvestmentStrategy

LGS’sProductDashboardfortheMySuperAgeBasedInvestmentStrategyisavailable at lgsuper.com.au/productdashboard

OtherinformationaboutLGS,includingtheTrustDeed,AnnualReportandtheexecutiveofficerremunerationisavailableatlgsuper.com.au/docs

For non PDS information about the LGS Accumulation Scheme see the About Local Government Super (LGS) Accumulation Scheme fact sheet at lgsuper.com.au/PDS

1. About Local Government Super (LGS) Accumulation Scheme

1.Thesepre-mixedinvestmentoptionsformpartoftheMySuperAgeBasedInvestmentStrategy,butarealsoavailableasstand-aloneinvestmentoptions.Pleaserefertopages6and7formoreinformation.

2

Product Disclosure Statement

2. How super worksThefollowingpointsprovideanoverviewastohowsuperworks:lSuperannuationisameansofsavingforretirementwhichis,inpart,compulsory.lThereareseveraldifferenttypesofcontributions(e.g.employercontributions,voluntarycontributions,governmentco-contributions).

lTherearelimitationsoncontributionstoandwithdrawalsfromsuperannuation.lTaxsavingsareprovidedbytheAustralianGovernment.lMostpeoplehavetherighttochooseintowhichfundtheemployershoulddirecttheirsuperannuationguaranteecontributions.

WhenyoujoinLGSyouand/oryouremployercanmakecontributionstothecreditofyourLGSaccount.Dependingonyoursituation,thegovernmentand/oryouremployermayalsomakefurthercontributionstoyouraccount.YouraccountwillbeinvestedintheLGSMySuperAgeBasedInvestmentStrategyoranotherinvestment(s)ofyourchoice.Feesandchargeswillbeappliedtoyouraccount.Whenyoumeetaconditionofreleaseforpaymentofyouraccount,allorpartofyourbenefitcanbepaidtoyou.

You should read the important information about how super works before making a decision. Go to the How super works fact sheet at lgsuper.com.au/PDS

3

ACCUMULATION SCHEME

3. Benefits of investing with the LGS Accumulation SchemeLGSaimstoenhancetheretirementincomeofourmembers.

Yourchoiceofsuperfundcanmakearealdifferencetoyourlong-termfinancialfuture,soyoumaywishtoinvestinasuperfundthatworkstomaximisethereturnsonyourinvestmentandreduce the impact on our environment. LGS has a Sustainable and responsible investment policy andhaswonanumberofindustryawards.

LGSprovidesyouwithflexiblesuperannuationthatyoucantailortoaddressyourlifestyleneeds,bothnowandinretirement.Benefitsareavailableintheeventofyourdeath,invalidityandonleavingemploymentwithaparticipatingemployer.FurtherbenefitsofinvestingwithLGSinclude:

lChoiceofsixinvestmentoptions,includingtheMySuperAgeBasedInvestmentStrategy.

lLGSAccount-BasedPensionPlanandLGSGuaranteedIncomeproducts.

l FinancialplanningandadviceservicesacrossNewSouthWales.

lOnline access to your account.

lLGSmobileapptomanageyour account on your smartphone.

lRegularseminarsandnewsletters.

lMEBank,HCFandGoGetcorporateoffers.

You should read the important information about the benefits and features of investing with the LGS Accumulation Scheme before making a decision. Go to the Benefits of investing with the LGS Accumulation Scheme fact sheet at lgsuper.com.au/PDS

4

Product Disclosure Statement

4. Risks of superItisimportanttounderstandthefollowingintermsofyourinvestment:

lAll investments carry risk.lDifferentinvestmentoptionsmaycarrydifferentlevelsofrisk,dependingontheassets

which make up the option.lAssetswiththehighestlong-termreturnsmayalsocarrythehighestlevelofshort-termrisk.

TheLGSAccumulationSchemeofferssixinvestmentoptions(includingtheMySuperAgeBasedInvestmentStrategy)whichvaryintermsoftheirriskprofile.Tohelpyoucompareinvestmentoptions,thesuperannuationindustryhasdevelopedtheStandardRiskMeasure(SRM).UndertheSRM,LGShasallocatedeachinvestmentoptionaRiskBand(whichcanrangefrom1to7)andaRiskLabel(whichcanrangefrom‘VeryLow’to‘VeryHigh’).TheRiskBandandRiskLabelarebasedontheestimatedfrequencyoftheinvestmentoptionachievinganannualnegativereturnoverany20-yearperiod.

FormoreinformationontheSRMandhowLGShasappliedtheSRMtoitsowninvestmentoptions,refertotheRisks of superfactsheetatlgsuper.com.au/PDS

Thefollowingstatementssummarisethesignificantrisksofsuperannuation:lThevalueofinvestmentswillvary.lThelevelofreturnswillvaryandfuturereturnsmaydifferfrompastreturns.lReturnsarenotguaranteedandyoumaylosesomeofyourmoney.lSuperannuationlawsmaychangeinthefuture.lTheamountofyourfuturesuperannuationsavings(includingcontributionsandreturns)maynotbeenoughtoprovideadequatelyforyourretirement.

lThelevelofriskwillvarydependingonarangeoffactors,including: lyourage linvestmenttimeframes lwhereotherpartsofyourwealthareinvested l your risk tolerance.

Ourlicensedfinancialplannerscanprovideyouwithassistanceinunderstandingtherisksanddesigninganappropriateinvestmentstrategyforyou.PleasecontactMemberServicesformoreinformation.

You should read the important information about the risks of super before making an investment decision. Go to the Risks of super fact sheet at lgsuper.com.au/PDS

5

ACCUMULATION SCHEME

5. How we invest your moneyYoucanchoosetoinvestyouraccountbalanceand/orfuturecontributionsinacombinationofoneormoreofthefollowinginvestmentoptions:

Switching investmentsYoucanmakemostinvestmentswitchesviathesecureLGSmobileapp,ortheLGSMemberOnlinefacility,whichcanbeaccessedviatheloginbuttononourwebsite.Alternatively,youcan complete and send us a Changing investment optionsformavailablefromlgsuper.com.au/forms orbycallingMemberServices.Thereisusuallyafeetoswitchyourinvestment.Pleasereferto the Fees and costsfactsheetatlgsuper.com.au/PDS

Review of investment optionsLGSregularlyreviewsitsmemberinvestmentoptionsandmayfromtimetotimemakechanges(suchastotheassetallocationranges,theassets,therisksandtheobjectives)tothoseoptions.Whenchangesaremadetotheoptions,LGSwillnotifymemberseitherviathewebsite,intheAnnualReportorinwritingdirectly.

Ifyoudonotmakeaninvestmentchoice,youwillbeinvestedintheMySuperAgeBasedInvestmentStrategy.Theinvestmentdetailsforthisstrategyareoutlinedonpages6and7.

Please note–whenchoosinganinvestmentoptionyoumustconsiderthefollowing:

lthe likely investment returnlthe risklyourinvestmenttimeframe.

Pre-mixed investment options

Single sector investment option

lHighGrowthl Balanced Growthl Balancedl Conservative

lMySuperAgeBasedInvestmentStrategy

lManagedCash

6

Product Disclosure Statement

Investment details for the MySuper Age Based Investment Strategy

High Growth (Defaultoptionformembersuptoandincludingage44)

Balanced Growth (Defaultoptionformembersagedbetween45–49)

Description Investsaveryhighproportionoffundsingrowthassets,suchas shares and property and maybesuitableformembersseekinghighinvestmentgrowthoverthelongerterm.

Investsahighproportionoffundsingrowthassets,suchas shares and property and may besuitableformembersseekingrealinvestmentgrowthoverthemediumtolongerterm.

Objective 3.5% net return p.a. above CPI overarolling10-yearperiod.

3.0% net return p.a. above CPI overarolling10-yearperiod.

Age band1 Upto44 45 – 49Suggested investment timeframe 7 years 5 years

Risk profile Theemphasisisongrowth,sothevalueoftheinvestmentmayfluctuateovertheshortterm.

Theemphasisisongrowth,sothevalueoftheinvestmentmayfluctuateovertheshortterm.

Standard Risk Measure Riskband:5 Risklabel:MediumtoHigh(Basedonanestimateof3.5negativeannualreturnsinany20-yearperiod)

Riskband:5 Risklabel:MediumtoHigh(Basedonanestimateof 3.0negativeannualreturnsinany20-yearperiod)

Asset allocation (%) Range Range

Australian Shares 25 – 36% 18 – 31%International Shares 31 – 44% 20 – 32%Australian Direct Property2 0 – 10% 0 – 10%International Listed Property 0 – 6% 0 – 6%Commodities 0 – 3% 0 – 3%PrivateEquity2 5 – 15% 2 – 12%Opportunistic Alternatives2 0 – 10% 0 – 10%Absolute Return Funds 0 – 13% 7 – 17%Bonds 0 – 15% 7 – 17%Cash 0 – 10% 0 – 10%DefensiveAlternatives2 0 – 8% 0 – 8%

1.TheMySuperAgeBasedInvestmentStrategywillautomaticallymoveyouraccountthrougharangeofinvestmentoptionsasyoureachcertainages.

2. The combined investments in these asset classes will not exceed 30%.

7

ACCUMULATION SCHEME

Balanced (Defaultoptionformembersagedbetween50–54)

Conservative (Defaultoptionformembersaged55andabove)

Description Investsaproportionoffundsingrowthassets,suchassharesandproperty,incombinationwithincome-producingassets,suchasinterest-bearingsecurities.Maybesuitableformembersseekinginvestmentgrowthoverthemedium term with less volatility.

Investsasmallproportionoffundsingrowthassetsandthebalanceinincome-producingassets,suchasinterest-bearingsecurities and may be suitable formembersseekingashorterterminvestmentwithsomegoodpotentialforgrowth,butwithgreaterstability.

Objective 2.0% net return p.a. above CPI overarolling10-yearperiod.

1.5% net return p.a. above CPI overarolling10-yearperiod.

Age band1 50 – 54 55 and aboveSuggested investment timeframe 3 years 2 years

Risk profile Theemphasisisstillongrowth,but with more stability than mightbeexpectedinHighGrowth or Balanced Growth.

Theemphasisisongreatersecurity,withsomepotentialforgrowth.Thevalueoftheinvestmentcouldstillfluctuate.

Standard Risk Measure Riskband:4 Risklabel:Medium(Basedonanestimateof2.3negativeannualreturnsinany20-yearperiod)

RiskBand:2 RiskLabel:Low(Basedonanestimateof0.8negativeannualreturnsinany20-yearperiod)

Asset allocation (%) Range Range

Australian Shares 10 – 20% 1 – 11%International Shares 10 – 21% 1 – 12%Australian Direct Property2 0 – 10% 0 – 10%International Listed Property 0 – 6% 0 – 6%Commodities 0 – 3% 0 – 3%PrivateEquity2 0 – 10% 0 – 7%Opportunistic Alternatives2 0 – 10% 3 – 13%Absolute Return Funds 12 – 22% 16 – 26%Bonds 20 – 30% 26 – 36%Cash 0 – 10% 5 – 15%DefensiveAlternatives2 2 – 9% 0 – 10%

1.TheMySuperAgeBasedInvestmentStrategywillautomaticallymoveyouraccountthrougharangeofinvestmentoptionsasyoureachcertainages.

2. The combined investments in these asset classes will not exceed 30%.

8

Product Disclosure Statement

6. Fees and costs

DID YOU KNOW?Small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns.

For example, total annual fees and other costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30-year period (for example, reduce it from $100,000 to $80,000).

You should consider whether features such as superior investment performance or provision of better member services justify higher fees and costs.

You or your employer, as applicable, may be able to negotiate to pay lower fees1. Ask the fund or your financial adviser.

TO FIND OUT MOREIf you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investment Commission (ASIC) website (moneysmart.gov.au) has a superannuation calculator to help you check out different fee options.

ThefeetableonthenextpageprovidesdetailsregardingthecostsofinvestingintheMySuperAgeBasedInvestmentStrategyandthefeesandothercoststhatarechargedinrelationtothatoption.Youcanusethisinformationtocomparecostsbetweendifferentsuperannuationproducts.

1.Tohelpyoucomparedifferentsuperannuationproducts,theTrusteeisrequiredbylawtoprovidetheabovestatementinaPDS.ItisimportanttonotethatLGSdoesnotchargecontributionfeesandthemanagementcostscannotbenegotiated.

Responsible investingLikeothersuperfunds,LGSinvestsinarangeofassetssuchasshares,privateequityandproperty.However,unlikemostfunds,LGSactivelyinvestsintheseassetsbasedonaresponsible investment policy.

LGS believes that it is not only important tomaximiseinvestmentreturns,butalsotoinvestinawaythatfavourscompaniesandprojectswhichshowacommitmenttoourcommunityand the environment.

LGShaswonnumerousawardsinrecognitionofitscommitmenttoresponsibleinvesting. Moreinformationonourawardscanbefoundatlgsuper.com.au/awards

You should read the important information about how we invest your money and the other LGS Accumulation Scheme investment options before making a decision. Go to the How we invest your money fact sheet at lgsuper.com.au/PDS

9

ACCUMULATION SCHEME

MySuper Age Based Investment Strategy

Type of fee1 Amount How and when paidInvestment fee2 From 0.23%

to 0.33% p.a. dependingonyourinvestment option.

InvestmentfeesarepaidfromtheFund'sassetspriortounitpricesbeingcalculated.Theinvestmentfeeyoupaywilldependon your investment option.

Administration fee2 $71.24 p.a. ($1.37 per week)AND 0.25%3 p.a.

Dollarbasedfeesaredeductedfromyour account monthly. AND AdministrationfeepercentageispaidfromtheFund’sassetspriortounitpricesbeingcalculated.

Buy-sell spread Nil N/ASwitching fees lInvestmentSwitchingfee

$27.00

Deducteddirectlyfromyouraccountwhen a switch occurs.

Advice fees Relatingtoallmembersinvested in a particular MySuperinvestmentoption

PersonalAdvicefeemay apply.

NoadvicefeesarechargedforprovidinggeneraladvicelimitedtoyourLGSaccount.Feesmaybechargedforothertypesofadvice.

Ifyouwouldliketoreceivepersonaladvicefromafinancialplanner,anadvicefee4 willbechargedandyouwillbeinformedofthecostbeforeyouproceed.IfyouareissuedwithaStatementofAdvice,itwillcontaindetailsofthefeeswhichmaybedeductedfromyourLGSAccumulationSchemeaccount,anotherLGSaccountor paid directly.

Other fees and costs lInsurancefee

Pleaserefertopage12

Deducteddirectlyfromyouraccounteach month.

Indirect cost ratio2

From 0.45% to 0.47% p.a. dependingonyourinvestment option.

IndirectcostsarepaidfromtheFund’sassetspriortounitpricesbeingcalculated.The Indirect costs you pay will depend on your investment option.

1.LGSadoptsthedefinitionsinrelationtofeesasoutlinedintheFees and costsfactsheet.Thesemaybe viewed at lgsuper.com.au/factsheets

2.Ifyouraccountbalanceisunder$6,000;a3%capwillbeappliedtothetotalofinvestmentfee,administrationfeeandindirectcostratio.Anyamountoverthiscapwillberefundedtoyou.

3. Theadministrationfeepercentagerelatestothecostoftheadministrationandoperationofthesuperannuationfund.AsLGSisaprofitformemberfund,thisfeeisestimatedeachyearandanyexcessnotutilisedintherunningcostsoftheFundisreturnedbacktotheFundforthebenefitofmembers.

4.Pleaserefertopage11formoreinformation.Note:TheIndirectCostRatiosandinvestmentfeesshownaboveareprovidedasindicativecostsonly and include reasonable estimates.FurtherinformationoneachofthefeeslistedaboveiscontainedintheFees and costsfactsheet,availableat lgsuper.com.au/PDS orfromMemberServices.

10

Product Disclosure Statement

Fee changesAsLGSoperatesonaprofit-to-membersbasis,theTrusteecanchangetheamountoffeeswhichyoumaybecharged.LGSwillprovideyouwithatleast30daysnoticeifthereisamaterialfeeincrease.

Example of annual fees and costs for the MySuper Age Based Investment StrategyThetablebelowgivesanexampleofhowthefeesandcostsintheMySuperAgeBasedInvestmentStrategycanaffectyoursuperannuationinvestmentoveraoneyearperiod.Youshouldusethistable to compare this product with other superannuation products.

TheexampleaboveisbasedontheMySuperAgeBasedInvestmentStrategy–HighGrowth(applicabletoMySupermembersagedunder45).ThecostwouldbelowerformembersinvestedintheMySuperBalancedGrowth,MySuperBalancedandMySuperConservativeinvestment options.

Note:ASICprovidesafreeonlinecalculatoronitsMoneysmartwebsitewhichcancalculatetheeffectoffeesandcostsonsuperaccountbalances.YoucanvisitASIC’sMoneysmartwebsiteandusethecalculatorbygoingto moneysmart.gov.au

Example – MySuper Age Based Investment Strategy – High Growth Balance of $50,000

Investment fee 0.33% p.a. Forevery$50,000youhaveintheMySuperAgeBasedInvestmentStrategyyouwillbecharged$165.00.

PLUS Administrationfees

$71.24 p.a. ($1.37 per week) AND 0.25% p.a.

And,youwillbecharged$71.24 inadministrationfeesregardlessof yourbalance,plusforevery$50,000youhaveintheMySuperAgeBasedInvestmentStrategyyouwillbecharged$125.00.

PLUS IndirectcostfortheMySuperproduct

0.47% And,indirectcostsof$235.00eachyearwillbedeductedfromyourinvestment.

EQUALS Costoftheproduct:

Ifyourbalancewas$50,000,thenforthatyearyouwillbechargedfeesof$596.241 fortheMySuperAgeBasedInvestmentStrategy–HighGrowth.

1.Additionalfeesmayapply.RefertotheFees and costsfactsheetatlgsuper.com.au/PDS formoreinformation.

11

ACCUMULATION SCHEME

Financial Planning fee (Advice fee)Ifyouconsultafinancialplanner,LGSwillchargeadirectfeeforsomefinancialplanningservices.Itisimportanttonotethatnotallfinancialadvicewillincurafeeandinmanycasestheremaybenocharge.Whetherornotafeeapplieswilldependuponthescopeofthefinancialadviceyourequire.Yourfinancialplannerwilldiscussanyfeepayablewhenmeetingwithyouand,ifafeeisapplicable,willadviseyouofthefeeshouldyoudecidetoproceedwithobtainingtheadvice.

You should read the important information about fees and costs for the MySuper Age Based Investment Strategy and other investment options before making a decision. Go to the Fees and costs fact sheet at lgsuper.com.au/PDS

7. How super is taxedTaxation rules that apply tosuperannuationcanbecomplicated.ThefollowinginformationprovidesasummaryofthekeytaxinformationrelatingtotheLGSAccumulationScheme. Youshouldseekprofessionaladvicetounderstandhowthesedifferenttaxesmayaffectyou.

Contributionstaxof15%1ischargedonallconcessionalcontributions,whileearningsoninvestmentsarenormallytaxedatamaximumof15%.Contributionstaxisdeductedatthetimethecontributionsaremadetoyouraccountwhilsttheearningstaxisdeductedfromtheinvestmentreturnpriortopaymenttoyouraccount.Theeffectiveratemaybereducedtobelow15%duetotheeffectofvarioustaxcreditsandrebates.

Generally,withdrawalsfromsuperafterage60willincurnotax.Howeverifyoutakeyourbenefitpriortoage60thenitmaybetaxed.

Please note–WhenyoubecomeamemberofLGSitisimportantthatyouprovideuswithyourTaxFileNumber(TFN).IfyoudonotprovideyourTFNtoLGSthenyourconcessionalcontributionsandthetaxablecomponentoflumpsumpayments(wheretaxispayable)maybetaxedatthehighestmarginalrateplustheMedicarelevy.Also,ifwedonothaveyourTFNwewillnotbeabletoacceptcertainkindsofcontributionstotheLGSAccumulationScheme,such as personal contributions.

Please note – There are caps on the amounts that can be contributed to superannuation. Ifthosecapsareexceededthentheremaybetaxationconsequences.

You should read the important information about how super is taxed before making a decision. Go to the How super is taxed fact sheet at lgsuper.com.au/PDS

1.Formoreinformationoncontributionstax,refertotheHow super is taxedfactsheet at lgsuper.com.au/PDS

12

Product Disclosure Statement

8. Insurance in your superLGSviaitsinsurer,TALLifeLtd(ABN70050109450,AFSL237848),provideseligiblemembersoftheLGSAccumulationSchemewiththefollowingtypesofinsurancecover :

Basic insurance coverLGSprovidesbasicinsurancecover,whichcomprisesBasicDeathCoverandBasicTotalandPermanentDisablement(TPD)Cover,toeligiblemembers.Youmustbeatleast25yearsofageandhaveasuperaccountbalanceofatleast$6,000tobeeligibletoreceivebasicinsurancecoverautomatically.Ifyouwanttoreceivebasicinsurancecoverbeforeyoubecomeeligibleforitautomatically,youmustelecttoopt-intobasicinsurancecoverbycompletingtheOpt in to insurance coverformavailableatlgsuper.com.au/formsorbyloggingintoMember Online or via LGS mobile app.Basicinsurancecoverisprovidedinalinkedcombinationofunitsbasedonyouragenextbirthday:

Age next birthday Death units TPD units16–25 5 1526–30 10 1031–70 15 5

Thelevelofcoverchangesatdifferentagegroupsandgraduallyreducesafterage37.Fordetailsontheamountofcoverateachage,pleaserefertotheInsurance in your superfactsheet.ThecostofBasicinsurancecoverdependsonyourgenderandthetypeofcover:

Death per unit per month1 TPD per unit per month1

Male $0.914 $0.475Female $0.704 $0.592

Premiumsforthebasicinsurancecoveraredeductedfromyouraccount.Ifyouwishtocancelorreduceyourbasicinsurancecover,youcancompletetheReduce or cancel basic coverform,available at lgsuper.com.au/formsorcancelbyloggingintoMember Online or via the LGS mobile app. PleaserefertotheInsurance in your superfactsheetformoreinformation.Please note–Ifyouareeligibletoreceivethebasicinsurancecoverautomatically,unlessyoudeclinetoacquirebasicinsurancecoverorcancelthecover,thecostofthecoverwillbedeductedfromyouraccount.Ifyouraccounthasnotreceivedacontributionin16months,your insurance will be cancelled unless you have opted in to keep your cover. See the Insurance in your superfactsheetavailableatlgsuper.com.au/PDS formoreinformation.

Voluntary insurance cover LGSalsoprovidestheoptionformemberstoapplyforadditionalvoluntaryinsurancecover. Thetypesandlevelsofcoveravailableare:lDeath cover – unlimited coverlDeathandTPDcover – upto$3,000,000lSalarycontinuancecover–upto$300,000perannum.

YoucanapplyforthiscoverbycompletingaVoluntary insurance coverformavailableatlgsuper.com.au/forms. All applications are assessed (underwritten) by the insurer. The cost ofcoverisdependentuponassessmentbytheinsurerandtakesintoconsiderationfactorssuchasyourage,gender,occupation,etc.

1.AnInsuranceAdministrationfeeof1.5%ofpremiumsisincluded.

13

ACCUMULATION SCHEME

Before making a decision about whether the insurance is appropriate for you, you should read the important information about insurance, including information about eligibility, cancellation, conditions and exclusions that may affect your entitlement to insurance cover which can be found in the Insurance in your super fact sheet at lgsuper.com.au/PDS

9. How to open an accountYoushouldreadthisPDSandtheincorporatedbyreferencefactsheetsavailableat lgsuper.com.au/PDS.IfyouarejoiningtheLGSAccumulationSchemeviaanLGSsponsoredemployer,youremployerwillnotifyusofyourmembershipandopenyouraccount;youdon’tneedtocompleteanapplicationform.

HoweverifyouarejoiningtheLGSAccumulationSchemeasapublicoffermember,youcanjoin online at lgsuper.com.au/welcome or complete the Application for membership for non – local government employeesform,availableatlgsuper.com.au/forms

Acooling-offperiodappliestopublicoffermembersonly.ApersonwhojoinsthePublicOfferDivisiondirectlyasaPersonalMemberbycompletinganapplicationformcanwithdrawfromtheLGSAccumulationSchemewithoutincurringanyfeesorchargeswithinthefirst14daysaftertheearlierof:l the date wesendyouconfirmationofmembershipintheLGSAccumulationScheme,orlfivedaysafterweacceptyourapplicationtojoin the LGS Accumulation Scheme.

Ifacooling-offrequestismade,theTrusteewillnotdeductanyfeesorchargesfromthemoniespaid.Theamountrepaidwillbeadjustedforanytaxpaidorpayableandanynetinvestmentearningsorlossesfromthedateofissueoftheinterestuptothedateofreceiptoftherequest.

Anypreservedorrestrictednon-preservedamounts,whichhadbeentransferredtotheLGSAccumulationSchemeinrespectofthemember,wouldhavetobetransferredtoanothercomplyingsuperannuationfund.

Thecooling-offrequestmustbemadeinwritingtotheTrustee.

Pleasenotethatthereisnocooling-offperiodforemployersponsoredmembers(orothermembers) who join the employer sponsored division.

Ifyouaredissatisfiedwiththeservicethatyouarereceivingoradecisionthataffectsyou,youcanlodgeaformalcomplaintbycallingMemberServicesorwritingtoourComplaintsResolutionManageratthefollowingaddress:

ComplaintsResolutionManager Local Government Super PO Box H290 AustraliaSquareNSW1215

You should read the important information about complaints and dispute resolution before making a decision. Go to the How to open an account fact sheet at lgsuper.com.au/PDS

Contact details

10. Further informationThisPDScontainsreferencestoimportantinformationinspecific factsheetsthatshouldbereadtogetherwiththisPDS.Thelistofthose factsheetsisasfollows:

1. About Local Government Super (LGS) Accumulation Scheme2. How super works3. BenefitsofinvestingwiththeLGSAccumulationScheme4. Risksofsuper5. How we invest your money6. Fees and costs7. How super is taxed8. Insurance in your super9. How to open an account

Thesefactsheetscanbefoundatlgsuper.com.au/PDS or you can obtain acopyfreeofchargebycontactingMemberServices.

L136807/20-GPS

Printedonenvironmentallyresponsiblematerials.Coverimage:BlueMountains

LG 1

038.

607/20ISS13

Member Services

Offices

Mail Web

1300 LGSUPER (1300 547 873)

PO Box N835Grosvenor PlaceNSW 1220

lgsuper.com.au

Sydney Level 12, 28 Margaret StNewcastle Ground Floor, 12 Perkins StWollongong Shop 2/60 Burelli St

OfficesinBallina,Orange,Parramatta,TamworthandWaggaWaggaareavailableby appointment only.

Bookingsareessential.Phone1300LGSUPER(1300547873)tomakeanappointment.

Officehoursarebetween8.30amand5.00pm,MondaytoFriday.

LGSUPER