Education Saver

EdSaver can provide funding for a full spectrum of lifelong eligible education courses ranging from Pre-School right through to adult education. Courses can be Australian and international courses, including full-time, part-time, and a whole range of other ways of studying.



The range of related expenses covered extends well beyond course tuition fees. You can also claim additional add-on expenses such as travel, cost of living away from home, uniforms, books, electrical devices, and much more.

EdSaver is highly flexible and can cater to a range of lifelong expenses.



Education related drawdowns receive a special taxation benefit called the Education Tax Benefit. However, you can access funds for other purposes and may still achieve desirable tax outcomes. When a withdrawal is made for non-education related expenses, advantageous Investment Bond rules will apply.



We recommend that prospective Bond Owners seek independent taxation advice.

There is a cooling off period of 14 days from the first to occur of either, receipt of your Confirmation Certificate or 5 days after we issue your Bond should you change your mind regarding the investment. You will receive your funds back at the current unit price including any fees that were payable (initial advice and/or stamp duty).

Once established, you have the flexibility to:

• change your ongoing Savings Plan amount/frequency and make additional lump sum investments;
• switch Investment Options across the entire menu;
• add or remove beneficiaries;
• make education claims or other withdrawals at any time;
• set up Estate Planning strategies such as bond transfers, distribution of funds upon death, or guardianship (refer Estate Planning questions for more details); and
• change bond term, transfer bond ownership, add additional Life/Lives Insured or appoint a representative to act on your behalf.

These features are all immediately available via simple forms on our Investor Portal. We will also provide you with more information about how to make the most of your EdSaver through ongoing communications.

Once your EdSaver has been established, you can take full advantage of all the Estate Planning features available to ensure your investment is treated in line with your wishes.



The Bond Estate Nomination feature ensures the proceeds of your EdSaver are paid to your Bond Estate Nominees if you die (and are the last surviving Life Insured) before the end of the Bond Term. This ensures that benefits pass to them outside of a Will and without going through the normal probate and estate procedures. Bond Estate Nominees can be changed at any time.



A Future Activated Transfers allows you to have the ownership of your EdSaver transferred to another party (such as a child or grandchild) upon your death or certain period after your death. The Transferee receives full ownership in its tax-advantaged state.



Alternatively, a Bond Guardian can be appointed to act on your behalf in the event of death, legal, physical or mental incapacity. The role of the Bond Guardian is to ensure that the original intentions for the EdSaver are carried out and must act in the best interest of the beneficiary. You can elect for the Guardian to have either restricted or full powers.

You do not need to appoint an Education Beneficiary to establish an EdSaver, however, you must appoint one or more beneficiaries prior to making an Education Benefit Claim.

Yes, you have wide discretion to appoint and remove Education Beneficiaries as you choose.

No, the wide classes of Education Beneficiaries, including yourself, can be any age. You can even establish a Bond for not yet born children.

If there are still funds left after all education claims have been finalised, you can either nominate a new Education Beneficiary or continue to make Other Withdrawals for non-education purposes.



You can also close and fully withdraw at any time.

Yes.



Your EdSaver is initially established with a Bond Term of 99 years but you may change this at any time.

Your Bond Term can be set at:

• a specific number of years (up to 99),
• upon your death, or
• a specified period after your death (eg 5 years after death).

This is the person or multiple persons whose death triggers the closure of the EdSaver and distribution of benefits.



Your EdSaver is normally set up with you, the Bond Owner(s), as the Life/Lives Insured. Other persons, such as beneficiaries can be added as a Life Insured at any time but a Life Insured cannot be removed from the Bond once appointed.

No - when considering investing into an EdSaver, it is important to understand that:

• investment returns can go up and down
• future returns may differ from past returns
• returns and net contributions are not guaranteed and will vary
• you may get back less than what you paid in.

A maximum contribution limit of $1,000,000 per Education Beneficiary applies to each EdSaver.