Superannuation (PSSAP) Unit Pricing Determination 2005 (Cth)
Superannuation (PSSAP) Unit Pricing Determination 2005
I, Leonie McCracken, Head of Investment Operations, make this Determination under Rules 5.2.1, 5.4.2 and 5.4.3 of the Rules for the Administration of the Public Sector Superannuation Accumulation Plan set out in the Schedule to the Trust Deed made under section 10 of the Superannuation Act 2005.
Dated 27 July 2005
LJMcCracken
Delegate of the PSS Board
Part 1 Preliminary
1 Name of Determination
This Determination is the Superannuation (PSSAP) Unit Pricing Determination 2005.
2 Commencement
This Determination commences on 27 July 2005.
3 Interpretation
(1) 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.
(2) 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
4 Buy prices and sell prices of relevant units
(1) 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.
(2) The buy prices and sell prices must be applied in relation to the relevant unit in accordance with the actuarial report.
(3) 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.
(4) 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 $ |
| 1 | 1 July 2005 | Conservative | 1.001318 | 0.998818 |
| 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 | ||
| 2 | 4 July 2005 | Conservative | 1.001267 | 0.998767 |
| 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 $ |
| 3 | 5 July 2005 | Conservative | 1.001974 | 0.999472 |
| 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 | ||
| 4 | 6 July 2005 | Conservative | 1.001237 | 0.998737 |
| 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 $ |
| 5 | 7 July 2005 | Conservative | 0.999961 | 0.997464 |
| 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 | ||
| 6 | 8 July 2005 | Conservative | 1.001007 | 0.998508 |
| 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 $ |
| 7 | 11 July 2005 | Conservative | 1.002592 | 1.000089 |
| 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 | ||
| 8 | 12 July 2005 | Conservative | 1.002239 | 0.999737 |
| 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 $ |
| 9 | 13 July 2005 | Conservative | 1.002889 | 1.000384 |
| Balanced 50/50 | 1.006162 | 1.002045 | ||
| Trustee Choice | 1.008784 | 1.004255 | ||
| Aggressive | 1.011538 | 1.006593 | ||
| Cash | 1.001605 | 1.001605 | ||
| Bonds / Fixed Interest | 0.997302 | 0.995210 | ||
| Australian shares | 1.001593 | 0.997594 | ||
| International shares (unhedged) | 1.038584 | 1.032784 | ||
| International shares (hedged) | 1.024485 | 1.018764 | ||
| Property | 1.005700 | 0.997686 | ||
| Sustainable | 1.002739 | 0.996741 | ||
| 10 | 14 July 2005 | Conservative | 1.003804 | 1.001297 |
| Balanced 50/50 | 1.007397 | 1.003275 | ||
| Trustee Choice | 1.011905 | 1.007361 | ||
| Aggressive | 1.014022 | 1.009065 | ||
| Cash | 1.001733 | 1.001733 | ||
| Bonds / Fixed Interest | 0.997452 | 0.995359 | ||
| Australian shares | 1.005992 | 1.001976 | ||
| International shares (unhedged) | 1.035163 | 1.029382 | ||
| International shares (hedged) | 1.027125 | 1.021389 | ||
| Property | 1.005834 | 0.997820 | ||
| Sustainable | 1.002719 | 0.996721 |
| Item | Date | Investment Option | Buy price $ | Sell price $ |
| 11 | 15 July 2005 | Conservative | 1.003920 | 1.001413 |
| Balanced 50/50 | 1.007470 | 1.003348 | ||
| Trustee Choice | 1.013714 | 1.009162 | ||
| Aggressive | 1.013779 | 1.008824 | ||
| Cash | 1.001859 | 1.001859 | ||
| Bonds / Fixed Interest | 0.997918 | 0.995825 | ||
| Australian shares | 1.004990 | 1.000978 | ||
| International shares (unhedged) | 1.038050 | 1.032253 | ||
| International shares (hedged) | 1.027125 | 1.021389 | ||
| Property | 1.005968 | 0.997952 | ||
| Sustainable | 1.002699 | 0.996701 | ||
| 12 | 18 July 2005 | Conservative | 1.003956 | 1.001450 |
| Balanced 50/50 | 1.007288 | 1.003166 | ||
| Trustee Choice | 1.013639 | 1.009087 | ||
| Aggressive | 1.013484 | 1.008530 | ||
| Cash | 1.002228 | 1.002228 | ||
| Bonds / Fixed Interest | 0.997848 | 0.995755 | ||
| Australian shares | 1.007135 | 1.003115 | ||
| International shares (unhedged) | 1.032033 | 1.026270 | ||
| International shares (hedged) | 1.024374 | 1.018654 | ||
| Property | 1.006359 | 0.998340 | ||
| Sustainable | 1.002639 | 0.996641 |
| Item | Date | Investment Option | Buy price $ | Sell price $ |
| 13 | 19 July 2005 | Conservative | 1.003858 | 1.001351 |
| Balanced 50/50 | 1.007560 | 1.003438 | ||
| Trustee Choice | 1.014106 | 1.009553 | ||
| Aggressive | 1.013686 | 1.008731 | ||
| Cash | 1.002356 | 1.002356 | ||
| Bonds / Fixed Interest | 0.997590 | 0.995497 | ||
| Australian shares | 1.002293 | 0.998292 | ||
| International shares (unhedged) | 1.037903 | 1.032107 | ||
| International shares (hedged) | 1.029500 | 1.023750 | ||
| Property | 1.006495 | 0.998475 | ||
| Sustainable | 1.002619 | 0.996621 | ||
| 14 | 20 July 2005 | Conservative | 1.005292 | 1.002782 |
| Balanced 50/50 | 1.009315 | 1.005185 | ||
| Trustee Choice | 1.017338 | 1.012771 | ||
| Aggressive | 1.017112 | 1.012141 | ||
| Cash | 1.002479 | 1.002479 | ||
| Bonds / Fixed Interest | 0.998163 | 0.996069 | ||
| Australian shares | 1.008743 | 1.004716 | ||
| International shares (unhedged) | 1.035815 | 1.030031 | ||
| International shares (hedged) | 1.032485 | 1.026720 | ||
| Property | 1.006625 | 0.998604 | ||
| Sustainable | 1.002599 | 0.996601 |
| Item | Date | Investment Option | Buy price $ | Sell price $ |
| 15 | 21 July 2005 | Conservative | 1.005875 | 1.003363 |
| Balanced 50/50 | 1.009932 | 1.005799 | ||
| Trustee Choice | 1.019447 | 1.014870 | ||
| Aggressive | 1.019312 | 1.014330 | ||
| Cash | 1.002604 | 1.002604 | ||
| Bonds / Fixed Interest | 0.997477 | 0.995385 | ||
| Australian shares | 1.018307 | 1.014242 | ||
| International shares (unhedged) | 1.025814 | 1.020085 | ||
| International shares (hedged) | 1.029326 | 1.023577 | ||
| Property | 1.006757 | 0.998735 | ||
| Sustainable | 1.002579 | 0.996581 | ||
| 16 | 22 July 2005 | Conservative | 1.007273 | 1.004758 |
| Balanced 50/50 | 1.011475 | 1.007337 | ||
| Trustee Choice | 1.022042 | 1.017453 | ||
| Aggressive | 1.022542 | 1.017544 | ||
| Cash | 1.002717 | 1.002717 | ||
| Bonds / Fixed Interest | 0.997854 | 0.995760 | ||
| Australian shares | 1.024616 | 1.020526 | ||
| International shares (unhedged) | 1.023561 | 1.017845 | ||
| International shares (hedged) | 1.031838 | 1.026076 | ||
| Property | 1.006877 | 0.998854 | ||
| Sustainable | 1.002559 | 0.996561 |
Schedule 2 Buy price and sell price
(subsection 4 (1))
| Item | Date | Investment Option | Buy price $ | Sell price $ |
Note Items in this Schedule will be inserted by future amendments of this Determination.
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