KONE Redundancy Trust

KONE Elevators Employee Benefits Pty Ltd (KEEB) is trustee of the KONE Redundancy Trust. The Trust holds and manages contributions received for eligible employees in accordance with the Trust Deed, applicable industrial arrangements and applicable law.

Contributions paid by KONE Group entities are credited to individual Member Accounts and held on trust by the Trustee. Contributions are recorded against individual Member Accounts and applied in accordance with the Trust Deed.

Contributions made to the KONE Redundancy Trust may generate investment income.

Under the Trust Deed, the Trustee determines the net income of the Trust each year. That income is generally credited to a Reserve Account maintained for KONE Elevators Pty Ltd rather than being allocated to individual member accounts.

The Reserve Account may also receive certain forfeited amounts and other amounts permitted under the Trust Deed.

For members covered by the Victorian Enterprise Agreement, a portion of the net income attributable to those members shall be applied to training-related activities in accordance with the Trust Deed.

Members may be entitled to redundancy benefits where they are made redundant. In certain circumstances, payments may also be available following resignation, termination of employment other than redundancy, or completion of a contract of employment, subject to Trust Deed conditions.

The Trust is primarily a redundancy trust. The Trust Deed does not establish a separate long service leave account or standalone long service leave benefit. Any entitlement is governed by the Trust Deed and applicable industrial arrangements.

Benefits may include retirement after preservation age, death, total and permanent disablement, hardship, leaving the industry, permanent departure from Australia, unemployment related payments and transfers to participating funds, subject to the Trust Deed.

Annual Financial Reports and Auditor Reports are available in the Documents and Downloads section of the webpage. Reports should remain available for member reference and historical access.

Risks include legislative, regulatory, taxation, operational and investment risks. Members should note they do not have a legal or beneficial interest in any Fund asset until a benefit becomes payable under the Trust Deed.

The Trustee may pay management, administration, auditor, legal adviser, accountant, investment manager, custodian and related Fund administration costs from Fund assets where permitted by the Trust Deed.

The Trust permits engagement of administrators, advisers, custodians and investment managers. Any material arrangement involving the Trustee or an associate will be disclosed as required by law.

Complaints relating to operation of the Trust may be submitted to the Trustee. Complaints will be managed in accordance with the Complaints Handling Policy, including acknowledgement, investigation, response and escalation processes. A copy of the Complaints Handling Policy will be available in the Documents and Downloads section.

KONE Elevators Employee Benefits Pty Ltd (KEEB) Trustee of the KONE Redundancy Trust.

Address: Level 11, 185 O’Riordan Street, Mascot NSW 2020

Email: au@kone.com

Phone: 13 56 63

KEEB is committed to protecting personal information. The Privacy Policy explains what information is collected, how it is used, disclosed, stored and protected, how access and correction requests may be made and how privacy complaints may be lodged.