Why can't I see the photos on my iPhone 6 Photos for OSX app, but the files are there, only empty?

I

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Recently switched to using Photos for OSX from the old iPhoto. I have switched on this app on my iPhone 6 (same iCloud account as my MAC). I can see all my old files/events and photos on the MAC, but when I access the app on my phone, under "iPhoto Events" it does list all my files/event names but with no photos in them.
The only photos I can see are the recent ones that used to be under My Photo Stream.
Am I doing something wrong??