Your fees in a nutshell
As an AustralianSuper member, your total fees will be made up of a few different types of fees. If you don’t have any insurance with us, or don’t receive any paid advice, you won’t pay those fees.
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Administration fee
Administration fee for superannuation accounts
If you have a super account, your Administration fee is $2.25 per week plus up to 0.04% pa of your account balance.
The $2.25 per week is calculated weekly and deducted monthly from your account. The percentage component of up to 0.04% pa is deducted daily from investment returns, before returns are applied to your account. For the 2019/20 financial year, the total annual amount will be charged over a 3-month period (equal to an annualised rate of up to 0.16%) from 1 April 2020 to 30 June 2020. From 1 July 2020 the amount will be charged over an annual period, up to 0.04%.
The Fund pays its administration costs from the administration reserve.
Administration fee for Choice Income accounts
If you have a Choice Income account your Administration fee consists of an account-keeping fee and an asset-based fee. The accounting-keeping fee is $2.25 per week, and the asset-based fee is 0.11% of your account balance each year (up to a maximum of $750).Learn more about our fees and costs for super accounts and Choice Income accounts.
Learn more about our fees and costs for super accounts and Choice Income accounts.
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Investment fee
These fees are charged to cover the cost to us of managing your investments - costs like external investment management fees, performance related fees, plus transactional and operational costs.
For both super and Choice Income accounts invested in the Balanced option, the Investment fee in the year ended 30 June 2019 was 0.60% of your account balance.
The percentages are different for each option. Scroll down to find out what they are for the other options.
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Insurance fees
These fees are your insurance premiums. They’re taken out of your super balance automatically. They depend on the level/amount of cover you have, your age, and the type of work you do. The easiest way to calculate these costs is with our Insurance Calculator, or if you’re a member you can login to your account and view your premium.
Insurance is not available in Choice Income accounts.
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Advice fees
We can provide general or simple personal advice over the phone at no cost, but if you need advice about starting a Choice Income account or transition to retirement options, a fee of up to $295 may be charged.
If you'd like to meet face-to-face with an adviser, a flat fee may be charged, but we'll always tell you what this will be in advance. The first meeting is complimentary and if you decide not to go ahead, there's no obligation.
Call us on 1300 300 273 to discuss your needs or make an appointment.
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Other potential fees
These are additional service fees that you might have to pay, depending on what you do with your super account. They include:
Type of fee or cost Amount How and when paid Exit fee Nil Contribution splitting fee: This is charged to split your contributions with your spouse. $70 Charged to your account when the split happens. Family Law Act information request: This is charged when an eligible person asks for information under the Family Law Act. $50 Charged to the person asking for the information. Family Law Act payment flagging agreement: This is charged when a payment flagging agreement to defer the splitting of a super interest is put in place. Nil n/a Family Law Act splitting account fee: This is charged to put a family law splitting order or agreement in place. $70 (shared equally between the two parties) Charged to your account when the split happens. AustralianSuper can change the fees which you may be charged. You’ll be given at least 30 days notice before any increase in fees takes effect.
What your fees might look like
Most people choose to invest their money in our Balanced option thanks to its strong performance and good-value fees.
Super account invested in the Balanced option
This table gives an example of how the fees and costs for the Balanced option for this superannuation product can affect your superannuation investment over a one year period. You should use this table to compare this superannuation product with other superannuation products.
| Example - Balanced option |
Balance of $50,000 | |
|---|---|---|
| Investment fees*^ | 0.60% | For every $50,000 you have in the superannuation product you will be charged $300 each year. |
| PLUS administration fees^ | $117 pa ($2.25 a week) plus up to 0.04% of your account balance |
AND, you will be charged $117 in administration fees regardless of your balance plus up to $20† in administration fees will be deducted from investment returns for every $50,000 you have in the superannuation product. |
| PLUS indirect costs for the superannuation product^ | Nil | AND indirect costs of $0 each year will be deducted from your investment. |
| EQUALS cost of product | If your balance was $50,000, then for that year you will be charged fees of $437 for the superannuation product. | |
Note: Additional fees may apply.
*The investment fee is for the 2018/19 financial year and is likely to change from year to year.
^ If your account balance for a product is less than $6,000
at the end of the
financial year, the total combined amount of administration fees, investment
fees and indirect costs charged to you is capped at 3% of the account balance.
Any amount charged in excess of that cap must be refunded.
† For the 2019/20 financial year, this amount will be charged over a 3-month period between 1 April 2020 and 30 June 2020. From 1 July 2020 this amount will be charged over a one-year period.
‡The financial advice you receive will be provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd (AustralianSuper) and therefore isn’t the responsibility of AustralianSuper. With your approval a fee may be charged if a Statement of Advice is provided.
Choice Income account invested in the Balanced option
This table show what the annual fees might look like over a one-year period for a Choice Income account with a balance of $50,000.
| Example: Balanced Investment Option | ||
|---|---|---|
| Investment fees | 0.60% | For every $50,000 you have invested in the Balanced investment option, you’ll be charged $300. |
| Plus administration fees | $117 pa ($2.25 per week) Plus 0.11% pa of your account balance capped at $750 pa |
And you will be charged $117 in administration fees regardless of your balance, plus $55 per year. |
| Plus indirect costs for the Balanced Investment option |
Nil |
And indirect costs of $0 each year will be deducted from your investment. |
| Equals cost of product | If your balance was $50,000, then for that year you will be charged fees of $472* |
|
*Additional fees may apply.
*From 1
July 2019, if your account balance for a product offered by AustralianSuper is
less than $6,000 at the end of the Fund’s financial income year (which runs
from 1 July, to 30 June the following calendar year), the total combined amount
of administration fees, investment fees and indirect costs charged to you is
capped at 3% of the account balance. Any amount charged in excess of that cap
will be refunded.
Fees for our PreMixed and DIY Mix options
AustralianSuper's Investment fee comprises of three components:
- Investment management fees
- Performance related fees
- Transactional and operational costs.
The Investment fee is calculated at 30 June each year and may change from year to year.
Here's how our overall Investment fee is broken down for each investment option for 2018/19.
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Fees for super investment options
Name of investment option Investment management fees Performance related fees Transactional and operational costs Total fees High Growth 0.40% 0.10% 0.09% 0.59% Balanced 0.42% 0.09% 0.09% 0.60% Socially Aware 0.52% 0.11% 0.11% 0.74% Conservative Balanced
0.35% 0.05% 0.07% 0.47% Stable
0.30% 0.01% 0.06% 0.37% Indexed Diversified
0.10% 0.00% 0.04% 0.14% Australian Shares 0.21% 0.00% 0.06% 0.27% International Shares 0.39% -0.03% 0.10% 0.46% Property 0.64% 0.00% 0.34% 0.98% Diversified Fixed Interest 0.36% 0.01% 0.03% 0.40% Cash 0.04% 0.00% 0.00% 0.04% -
Fees for Choice Income investment options
Name of investment option Investment management fees Performance related fees Transactional and operational costs Total fees High Growth 0.40% 0.11% 0.09% 0.60% Balanced 0.42% 0.09% 0.09% 0.60% Socially Aware 0.52% 0.11% 0.11% 0.74% Conservative Balanced
0.35% 0.05% 0.07% 0.47% Stable
0.30% 0.01% 0.06% 0.37% Indexed Diversified
0.10% 0.00% 0.04% 0.14% Australian Shares 0.21% 0.00% 0.06% 0.27% International Shares 0.39% -0.03% 0.10% 0.46% Property 0.64% 0.00% 0.34% 0.98% Diversified Fixed Interest 0.36% 0.01% 0.03% 0.40% Cash 0.04% 0.00% 0.00% 0.04%
Fees for our Member Direct option
If you invest in Member Direct, you’ll have additional fees (on top of the super investment fees mentioned above) for this option:
| Cash Account option | Term deposits option | Shares & ETFs option |
|
|---|---|---|---|
| Fees (inc gst) | |||
| Cash account fee |
0.12% pa of the balance
|
0.12% pa of the balance
|
0.12% pa of the balance
|
| Portfolio Administration Fee (PAF) | - |
$150 pa |
$395 pa |
If you (or your beneficiaries) redeem your term deposit(s) prior to their maturity date, penalties will apply. Our effective rate of interest will be reduced in accordance with the following discount factors. Principal reductions and other costs may also apply. See table below.
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Term deposits
ME Bank term deposits
Nab term deposits
Time invested
(% of total term)Interest
rate
reducesTime invested
(% of total term)Interest
rate
reduces0 to <20
90%
0 to 50
0 to 50
20 to <50
80%
>50
20%
40 to <60
60%
60 to <80
40%
80 to <100
20%
If you choose to trade in share and ETFs the following brokerage fees will apply. A flat fee applies to the first $5,000 of your trade. Scaled cumulative brokerage rates apply to each component of your trade value above this, at the levels set out below.
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Brokerage fees
Transaction amount Brokerage fee $0 to $5,000 $15.00 $5,001 to $10,000 0.30% $10,001 to $30,000 0.20% $30,001 to $50,000 0.16% $50,000+ 0.12% For example, if you placed a $35,000 trade, your total brokerage fee would be $78.00. This is calculated as follows:
Trade bracket Brokerage fee Total First $5,000 $15.00 $15.00 + $5,001 to $10,000 0.30% x $5,000 $15.00 + $10,001 to $30,000 0.20% x $20,000 $40.00 + $30,001 to $35,000 0.16% x $5,000 $8.00 = Total Brokerage $78.00
For more detail on Member Direct fees visit the Member Direct page.