AMIST  have issued a new Product Disclosure Statement (PDS) dated 31 July 2008 to all members of AMIST. The PDS advises members of some changes that will take effect from the "Effective Date" as indicated below:

Division	"Effective Date" of Changes
AMIST (Employer Sponsored)	1 September 2008
AMIST Personal Division	1 November 2008
AMIST Pension	1 November 2008

The changes are:

1. Administration Fee
   
   From 1 September 2008 the weekly administration fee will increase from $1.10 per week to $1.20 per week.
   
   
2. Asset Based Administration Fee
   
   Currently members are only charged the flat fee per week ($1.20 from 1 September 2008), irrespective of their account balance. From 1 September an additional fee of 0.07% of a member's account balance will be levied as an administration fee. This fee has been introduced to ensure that members with smaller account balances are not paying a higher percentage of their account balance as fees than members with larger balances.
   
   The Trustee has set the range at between 0.07% and 0.10%, however at this stage the fee will be set at 0.07%. In the event this fee is increased the members will be advised via the fund's website.
   
   This fee will not be deducted directly from member's accounts; the fee will be deducted from the fund's assets. The amount for each member will be shown on his or her member statement.
   
   
3. Increase in Insurance Cover
   
   Currently members are automatically provided with one unit of insurance cover at a cost of $1.50 per week. From 1 September 2008, most members with one unit of cover will be automatically provided with two units of cover (at a cost of $3.00 per week).
   
   The amount of cover will also increase; for example the cover for a member under aged 32 years will go from $120,000 to $124,600.
   
   Members who had previously opted out of insurance cover, or were not covered a 31 August 2008, will not be provided with cover.
   
   Any member who wishes to retain their existing level of insurance (one unit) can decline the offer of the additional unit by advising AMIST in writing.
   
   As part of the new insurance arrangements, the insurer will be providing AMIST with a premium rebate in respect of members with two or more units of cover.
   
   
   
4. Change to Interim Crediting Rate Policy
   
   Currently AMIST applies Interim Crediting Rates as follows:
   
   
   • Member Exiting the fund; rate based on 85% of earning rate for each month, for each investment option,
   • Member Switching or transferring within AMIST (to Personal Division or AMIST Pension); 100% of earning rate for each month, for each investment option,
   • Rates for each month, for each investment option, are recalculated at the Annual Review each year.
   
   New Process:
   
   
   • Interim Crediting Rates for all investment options for each month will be the earning rates minus 0.3%, irrespective of whether it is an exit, switch, or transfer within AMIST,
   
   
   • Monthly rates will be locked in each month, so the earnings allocated at the time of a switch, partial claim or transfer within AMIST will not be subject to change at a later date.
   
   This will only affect members who receive a full or partial benefit payment from AMIST, switch between investment options, or transfer within AMIST. Members who remain in the fund for the entire financial year will not be affected.