We've been tough on fees - so you save more

Our low fees just got even lower. 

We take maximising your super seriously and we know how important low fees are to growing your super over the long-term. A small change in fees can equate to a big difference in your retirement savings over time. That’s why we pass on any savings to you. 

From 1 October 2018, we’ve reduced most of our investment fees, plus our variable administration fee. This follows on from reducing our insurance premiums and some investment fees last October. This is all part of our commitment to putting members first and providing you with financial dignity now and in retirement.

Lower fees = more money for your retirement

 

What’s changed?

Our administration fee is made up of two parts: a fixed $1.50 per week fee and a variable percentage based fee. We’ve reduced our variable administration fee from 0.22% to 0.18% per annum of your account balance. 
The investment fee for most of our investment options has also reduced. For example, if you’re invested in the MySuper Balanced (default) option (as most members are), your investment fee has reduced from 0.32% to 0.28% per annum.
Our indirect cost ratio (ICR), which is incurred by the fund and not deducted directly from your account, has also been reduced from 0.43% to 0.39% per annum for the MySuper Balanced option.

How much will you save?

If you have a super account balance of $50,000, and are invested in the MySuper Balanced option, then you’ll save $60 per annum. 
If you’d like to know more about any of our fees, please read our Fees and Costs booklet.

If you’d like some advice about your super or financial situation please call one of our advisers on 1300 130 780. Remember, advice about your super or pension is included as part of your membership. 

All changes are effective from 1 October 2018. The changes to the MySuper Balanced option also apply to the Balanced option for pensions.