Fees and charges

Other than the government’s contributions tax and the cost of default or optional insurance, the only normal deduction from your account is our administration fee of $1.25 per week.

Under normal circumstances members with a balance under $1,000 will not be charged a fee that exceeds the investment return (this is called member protection, see the Fees section of the LUCRF Super Member Guide). If, however, the administration costs in a year exceed the investment income, the Trustee has the option of charging an additional fee of up to $10 (per annum).

In addition to the administration fee, other management fees apply in relation to the investments and operation of the Fund.  These costs are deducted from invesment returns prior to the final declared rates being applied to member accounts at the end of each year. Further information about these costs can be found in the Fees section of the LUCRF Super Member Guide.  They can also be obtained by contacting us.

Type of fee or cost	Amount	How and when paid
Establishment fee The fee to open your investment	Nil	Not applicable
Contribution fee The fee on each amount contributed to your investment – either by you or your employer	Nil	Not applicable
Withdrawal fee The fee on each amount you take out of your investment	$35 - partial withdrawals $70 - full withdrawals	Deducted from your account by the Trustee at the time of withdrawal The Withdrawal Fees are not payable when benefits are paid in full directly to a member on Retirement, nor paid for Compassionate reasons, Hardship, Death, TPD or transferred to LUCRF Pensions
Termination fee The fee to close your investment	Nil (see Withdrawal fee above)	Not applicable
Management costs The fees and costs for managing your investment	Management costs consist of: Administration fee $1.25 per week PLUS Management fee • Cash Option: 0.20% of your balance • Property Option: 0.39% of your balance • Balanced Option: 0.69% of your balance • Indexed Shares Option: 0.39% of your balance • Australian Shares Option: 0.60% of your balance • International Shares Option: 0.65% of your balance LUCRF Super does not charge buy-sell spreads.	The fixed administration fee of $1.25 per week is deducted from your account every 3 months, or on a pro-rata basis upon closing your investment. Other management costs are deducted by either the Trustee or the investment manager from the investment returns before crediting to your account1.
Member Benefit Protection fee This covers the cost to protect members with low account balances from having their money eaten up by fees	The Trustee estimates that the member protection fee will be 0.12%*. For an account balance of $50,000 the annual fee would be 0.12% x $50,000 = $60 This fee is an estimate and may vary from the actual charge. * Estimate is applicable from 1 July 2009	Deducted from earnings before returns are credited to your account

Service Fees

Investment Switching fee The fee for changing investment options

Nil

Not applicable

¹  You may also be charged other service fees or special request fees for specific services. Refer to "Additional Explanation of Fees and Charges" in the Fees section of the LUCRF Super Member Guide, dated 1 September 2009.