Accumulation fund – An accumulation fund is a fund where the benefit a member receives is the total of contributions to the fund plus/minus earnings on those contributions, less any deductions including tax.

Adjusted taxable income – Adjusted taxable income is your taxable income plus your total surchargeable contributions and reportable fringe benefits.   Surchargeable contributions include salary sacrifice contributions and insurance premiums paid by your employer and may include part of an employer eligible termination Payment (ETP) transferred into the fund.

Administration fee – is your after-tax share of all the costs of running the Division of which you are a member (except for the cost of investing the assets).

AWOTE – AWOTE or Average Weekly Ordinary Time Earnings is a measure of wage or salary levels of employees in Australia as measured by the Australian Bureau of Statistics and published monthly.

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Benchmark – Benchmark as used in the investment options is the indicative level of investment in that asset class.  The actual amount invested in each asset class is allowed to vary within ranges set by the trustee.

A benchmark can also be a general market index such as the “All Ordinaries Index” which measures the performance of share prices to indicate the overall performance of the Australian Sharemarket.

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Contributions – Contributions are regular (e.g. via payroll) or lump sum payments to a super fund.  They can be compulsory contributions made by your employer (as required by law or an industrial award) or additional contributions made by either the employer, or by members for themselves or their spouses.

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Distribution rate (net earning rate) – The rate of earnings applied to your member account as a result of the returns earned on investments after investment fees and taxes have been deducted.  Distribution rates can be positive or negative.

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Employer contributions – Employer contributions include Superannuation Guarantee contributions and any additional employer contributions including salary sacrifice contributions.

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Inflation rate – This is the rate at which the price of goods and services rise or fall.  This is usually shown as a percentage and is measured by the Consumer Price Index (CPI).

Investment objectives – These are the goals that the investment option aims to achieve.

Investment risk – Investment risk is the degree to which returns fluctuate, that is, go up and down in value over time relative to a long-term average.

Investment strategy – This is the way assets in the various options are invested to target the investment objectives.

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Preservation age – The age at which a member may be able to gain access to preserved benefits that have built up in a super fund, approved deposit fund or retirement savings account.

Preserved benefit – Preserved benefit is that portion of a superannuation benefit that government legislation requires to be maintained, either in a super fund, approved deposit fund or retirement savings account, until certain conditions are met.

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Salary sacrifice contributions – Salary sacrifice contributions are where you have agreed to forego part of your before-tax remuneration in return for your employer making superannuation contributions of the same value.

Switching – Switching is changing from your current investment option to another.

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Tax on employer paid contributions – is the 15% tax deducted from all employer contributions including salary sacrifice contributions.  (Contributions surcharge may also apply).

Transfers in - Transfers in are superannuation amounts you transferred to CSR Super from other superannuation funds and any amounts received from the Australian Taxation Office on your behalf.

Trust Deed – A Trust Deed is a document that sets out the rules for the establishment and operation of a superannuation fund.

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