AustralianSuper – with strong long-term investment returns and lower fees – will save you more.
And this equals more retirement money.
This graph shows the difference AustralianSuper can make. Over five years, invested in a balanced investment option, we provided a greater benefit than an average master trust.
Assumptions: $20,000 starting balance, $50,000 annual salary, 3.5% salary increase, 9% Superannuation Guarantee contributions, Balanced investment option, five years to 30 June 2011. Source: SuperRatings Pty Ltd. Investment returns are not guaranteed as all investments carry some risk. Past performance gives no indication of future returns.
The costs of your super with AustralianSuper are:
- administration costs
- investment management costs
- insurance premiums
These fees are the same across AustralianSuper except for the Pension Division and Corporate funds, which are tailored to meet individual fund needs.
| Account management costs |
Amount |
| Administration fee |
$1.50 per week |
|
Adviser service fee
This is deducted after you authorise payment to an eligible adviser for the advice you receive about your investment with AustralianSuper†
|
This fee is automatically set at zero but can be negotiated between you and your adviser up to the following limits:
Initial advice: $4,659.10
Once-off advice: $2,329.55
|
| Member Benefit Protection (MBP) for 2010/11# |
0.03% pa |
| Additional service fee |
Amount |
Binding nomination fee
This is the annual fee charged if you decide to make a Binding Death Benefit Nomination. |
$10 per year |
| Contribution splitting fee |
$70 |
| Family Law Act information request This is the fee charged when a person requests information under the Family Law Act |
$50 |
| Family Law Act splitting account fee This is the fee charged to effect a Family Law splitting order or agreement (this fee is split across both parties requesting the split). |
$70 |
| Fees when your money moves in or out of the Fund |
Amount |
Withdrawal fee*
The fee on each amount you take out of your investment. |
$35 |
| Investment management and brokerage costs |
Amount |
Investment management fees For the 2010/11 financial year the figure ranged from 0.11% pa to 0.70% pa of your account balance, depending on your investment option. **
View detailed list |
Range from 0.11% to 0.7% pa |
An example of annual fees
The main fees to set-up and manage your account are below. These are based on our Balanced option, and can be used to compare our fees with similar funds.
| Type of fee or cost |
Amount |
| Fees when your money moves in or out of the fund |
| Establishment fee |
Nil |
| Contribution fee |
Nil |
| Withdrawal fee |
$35 – charged on cash withdrawals above $200 and transfers to other funds |
| Termination fee |
Nil – but the withdrawal fee above may be charged |
| Management costs |
| Administration fee and costs for managing your investment |
$1.50 per week paid from your account
PLUS
0.59% a year of your account balance for investment management,including 0.03% a year for member protection (for 2010/2011).
|
The fees for our other investment options are different. Investment management fees are calculated looking back as at 30 June each year. These may change from year to year.
Member Direct investment option
Additional fees apply to the Member Direct investment option. View fees...
Insurance costs
Insurance for Death, Total and Permanent Disablement and Income Protection cover is provided to you through your super account. The costs will depend on the amount of cover you have, your age, the division you’re in and the type of work you do. To work out what your insurance premium would be use our insurance calculator, or if you’re a member you can log into your account and view your premium.
Insurance premiums for Corporate members are usually tailored to each individual corporate plan. If you’re a corporate member please log into your account to access the premium amount.
* We don’t charge a withdrawal fee for the payment of death or TPD benefits or withdrawals on hardship or compassionate grounds.This fee is charged on cash withdrawals above $200 and transfers to other funds.
** The figures shown above are for the 2010/11 financial year. Investment management costs are calculated as at 31 December and 30 June each year and may change from year to year. Where you have more than one investment option, the fee deducted from gross investment earnings will be apportioned.
# In 2010/11 a provision of up to 0.03% was deducted from the investment earnings to cover member benefit protection (MBP) costs and investment-related variances. Any difference between such actual costs and the provision will be distributed to members at the end of the financial year. In 2009/10 MBP costs were 0.05% and there were no investment-related variances.
† The adviser service fee shown is deducted after the savings from reduced input tax credits are taken into account. This means that the adviser service fee deducted from your account is less than the full fee that’s paid to the financial adviser. For an account balance of $10,000 the fee would be 0.05% x $10,000 = $5.
††The rates exclude GST
Important note: Where the fund receives a tax deduction, the benefit of that deduction is passed on to members as part of fund earnings.
Member Benefit Protection: AustralianSuper has a member benefit protection policy, which complies with Government legislation. It aims to protect members with low-balance accounts (less than $1,000) from having their savings eaten away by fees. Low-balance account members are given a rebate so that administration charges can’t be more than the interest paid on their account, unless the fund’s investment returns are less than the fund's administration costs (in this situation the rebate is reduced by up to $10). The rebate is applied at 30 June and 31 December or when the member exits from the fund.
Fee adjustments: The trust deed allows the trustee to increase or alter any of the fees (other than Government taxes). We’ll let you know about any increases to the fees in writing at least 30 days before they’re implemented. In the case of a fee reduction, where practicable, you’ll be notified before the change or (usually) no more than three months after the change.