What your super fees pay for

Just like other services you use, super is something you pay for. It’s important to know what your fees go towards – not to mention the benefits you receive in return as an AustralianSuper member.

We’re here to help you grow your super. One way is by keeping fees low while delivering strong long-term returns on your investment.1 We also use our size and scale to negotiate lower costs for members.

 

Types of fees

There are several different fees at AustralianSuper, with 2 paid by all members:

Administration fee

This is the fee you pay for having a super account with us. It covers the general costs of managing your account. It also pays for the maintenance and servicing of things like our call centre and mobile app.

The admin fee for super accounts is $2.25 a week. You’ll also pay up to 0.04% of your account balance each year. Weekly fees are deducted monthly as a lump sum. The deduction of the percentage of your balance happens daily from your investment earnings.

Investment fee

When money goes into your super account, we invest it to help it grow. This fee helps cover transaction costs and the team managing your investment.

The investment fee changes each year. If you used the Balanced option for the financial year ending 30 June 2021, your fee was 0.63% of your account balance. If your super is invested in a different option, you can visit our fees and costs page to see what your fees look like. The way the fee works is that it’s deducted from returns before they’re credited to your account.

Other fees

There are 2 other types of fees you may pay for optional products and services with us:

Insurance costs

If you have insurance cover through your super, you’ll pay costs known as insurance premiums for that cover. They’re taken out of your super balance. How much you pay depends on the cover you have, your age and the type of work you do. At AustralianSuper, we use our size and scale to negotiate lower insurance costs for you.

If you were 25 or over when you joined AustralianSuper, you may have a basic level of insurance cover. You may also have cover if you turned 25 after you joined.

If you’re not sure whether you have insurance cover with us, log into your online account to check or contact us.

Advice fees

At AustralianSuper, we can give you general or simple personal advice over the phone at no cost. But if you need more comprehensive advice, there’ll be a fee you’ll need to pay. This comes straight out of your balance.

 

Case study: Emily chose lower fees to save more super*

Emily is 25 and earns $54,800 a year. At her previous retail super fund, she was paying an admin fee of $1.45 a week plus 0.49% of her annual balance. When she compared fees, she found she could save $600 a year (on average) by joining AustralianSuper. This is because she pays an admin fee of $2.25 a week plus 0.04% of her annual balance instead. Over the long-term that saving means Emily could have $35,000 more in super in today’s dollars by the time she’s 65.

*Assumptions: Internal AustralianSuper calculations. Member aged 25 at 30 June 2021, retiring at age 67, Account balance at age 25 = $0, Salary at age 25 = $54,800, assumed to increase year at 3.5% pa, Employer contributions are 10% initially, rising to 12% in line with legislated increases, Investment returns after fees and taxes are 6.5% pa, AustralianSuper admin fees of $2.25 per member per week plus 0.04% of account balance, Retail fund admin fee of $1.45 a week plus 0.49% of account balance is the average retail fee as at 30 September 2020 from SuperRatings. The long term saving of $35,000 at age 67 is shown in today’s dollars by discounting at 3.5% pa.

 

Compare your fees

Now that you know the types of fees you may pay in return for strong investment performance, find out how our fees compare. Simply select your approximate super balance below to get started.

See how our fees compare

See how much AustralianSuper’s admin and investment fees are compared to the average.

See how much AustralianSuper’s admin and investment fees are compared to the average.

Grow your super faster with low fees

As Australia’s largest super fund, we use our size and scale to secure competitive fees and lower investment costs. Combine this with our history of strong, long-term performance and it could mean more money for your retirement.

As Australia’s largest super fund, we use our size and scale to secure competitive fees and lower investment costs. Combine this with our history of top performance and it could mean more money for your retirement.

Select a super balance

Annual admin and investment fees on a $25,000 balance

A graph comparing the annual admin and investment fees on a $25,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $285 a year compared to an average of $370 a year for all super funds and an average of $439 a year for retail super funds. Please refer to the important information below for more detail. A graph comparing the annual admin and investment fees on a $25,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $285 a year compared to an average of $370 a year for all super funds and an average of $439 a year for retail super funds. Please refer to the important information below for more detail.

Annual admin and investment fees on a $50,000 balance

A graph comparing the annual admin and investment fees on a $50,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $452 a year compared to an average of $633 a year for all super funds and an average of $737 a year for retail super funds. Please refer to the important information below for more detail. A graph comparing the annual admin and investment fees on a $50,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $452 a year compared to an average of $633 a year for all super funds and an average of $737 a year for retail super funds. Please refer to the important information below for more detail.

Annual admin and investment fees on a $100,000 balance

A graph comparing the annual admin and investment fees on a $100,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $787 a year compared to an average of $1,167 a year for all super funds and an average of $1,348 a year for retail super funds. Please refer to the important information below for more detail. A graph comparing the annual admin and investment fees on a $100,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $787 a year compared to an average of $1,167 a year for all super funds and an average of $1,348 a year for retail super funds. Please refer to the important information below for more detail.

Annual admin and investment fees on a $250,000 balance

A graph comparing the annual admin and investment fees on a $250,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $1,792 a year compared to an average of $2,757 a year for all super funds and an average of $3,176 a year for retail super funds. Please refer to the important information below for more detail. A graph comparing the annual admin and investment fees on a $250,000 balance. The graph shows AustralianSuper’s Balanced option as having the lowest fees at $1,792 a year compared to an average of $2,757 a year for all super funds and an average of $3,176 a year for retail super funds. Please refer to the important information below for more detail.
 

Why fees are only one part of the picture

What you pay for from your account is important. But it’s also good to know what you get in return for those fees. Here are just some of the benefits:

A global team of investment experts

Your investment fees go towards the service provided by our in-house investment team of over 170 experts. They invest your super in a range of assets across the globe, giving it the best opportunity to grow over the long run.

A history of strong, long-term returns

We’re Australia’s top performing super fund over 7, 10, 15 and 20 years based on the performance of the Balanced option. It’s had a 9.67% annual average investment return over the last 35 years.1

Higher net benefit

At AustralianSuper, we focus on net benefit when it comes to checking how your super is performing and what that performance means for the net benefit of your savings. That is, your investment return after taking away your admin and investment fees, and taxes.

READ MORE: WHY NET BENEFIT IS IMPORTANT TO YOUR SUPER

Australia’s largest, most-trusted fund2

We use our size and scale to secure competitive fees and costs for members like you. That means you pay less from your super balance so you can benefit from additional investment returns.

References

  1. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns. Returns from equivalent investment options of the ARF and STA super funds are used for periods before 1 July 2006. Top performing for the 7, 10, 15 and 20 years to 30 June 2021, based on returns for the AustralianSuper Balanced investment option compared to the SuperRatings Fund Crediting Rate Survey — SR50 Balanced (60–76) Index and the AustralianSuper Choice Income Account – Balanced investment option compared to the SuperRatings Pension Fund Crediting Rate Survey — SRP50 Balanced (60–76) Index. Returns are updated daily for all AustralianSuper investment options here.

  2. Readers Digest Most Trusted Brands – Superannuation category winner for nine years running 2013 – 2021 according to research conducted by leading independent research agency Catalyst Research.

Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.

This information may be general financial advice which doesn’t take into account your personal objectives, situation or needs. Before making a decision about AustralianSuper, you should think about your financial requirements and refer to the relevant Product Disclosure Statement available at australiansuper.com/pds. AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898.


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