|Term||What it means|
The return target is the annualised estimate of the percentage rate of return of a representative member that exceeds the growth in CPI over 10 years.
The annual return is the net investment return of a representative member for a financial year minus administration and investment fees and taxes.
A representative member is a member who is fully invested in the MySuper product, who does not incur any activity fees during a year and who has an account balance of $50,000 throughout that year, excluding any investment gains or losses on the $50,000 balance.
|Moving average return target||
The moving average return target for a particular financial year is the average of the return targets for the relevant year and the previous years in the comparison period, and factors in the annual growth in CPI.
|Moving average return||
The moving average return for a particular financial year is the average of the returns for the relevant year and the previous years in the comparison period.
The comparison period is:
- the past 10 whole financial years if the MySuper product, or the MySuper product and a predecessor product, have been offered for at least 10 financial years or
- the total number of whole financial years for which the MySuper product, or the MySuper product and a predecessor product, have been offered.
A predecessor product is a default investment option in existence on 30 June 2013.
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