Membership Guide - SuperFacts.com

Section 7 – Fees and chargesSuper factDid you know?Small differences in both investment performance and fees and costs can have a substantialimpact on your long term returns. For example, total annual fees and costs of 2% of your fund benefitrather than 1% could reduce your final return by up to 20% over a 30-year period (for example, reduce itfrom $100,000 to $80,000).You should consider whether features such as superior investment performance or the provision of better member servicesjustify higher fees and costs. You may be able to negotiate to pay lower contribution fees and management costs whereapplicable. Ask the Fund or your financial adviser.To find out moreIf you would like to find out more, or see the impact of the fees based on your own circumstances,the Australian Securities and Investments Commission (ASIC) website (www.fido.asic.gov.au)has a superannuation calculator to help you check out different fee options.The Trustee is not able to negotiate the fees detailed on this page.Table 7 outlines the fees and charges that may apply to your account in the Fund.Table 7: Fees and costsType of fee Amount How/when paidFees when your money moves in or out of the FundRead this sectionto understand the feesand costs than may applyto your super.Establishment fee: The fee to openyour accountContribution fee: The fee on eachamount contributed to your account byeither you or your employerNoneNoneNot applicableNot applicableWithdrawal fee: The fee on eachamount you take out of your accountTermination fee: The fee to closeyour account$50.00 per withdrawal This fee is deducted from your account atthe time a payment is made$50.00 This fee is deducted from your account atthe time your final payment is madeManagement costsThe fees and costs for managing yourinvestmentThe amount you pay for specificinvestment options is shown in thenext columnService feesInvestment switching feeThis is charged when you switchbetween investment options offered bythe FundFamily law feesApplication for information – in the formatspecified under the Family Law ActSplitting a benefitFlagging a benefitA fee of $1.00 per weekPLUSAn asset based administration fee of 0.30% p.a.of your super account balancePLUSAn asset based investment fee depending on theinvestment option(s) that apply to you:Growth– SRI Australian Shares 0.95% p.a.Growth–Australian Shares 0.00% p.a.Growth 0.16% p.a.Balanced 0.52% p.a.Capital Stable 0.16% p.a.Capital Secure 0.10% p.a.One free switch each calendar year butsubsequent switches are $30 eachIn addition, a buy/sell spread applies dependingon the investment option you selectNone$451.00NoneThis fee is deducted from your accountbalance at 31 December each year or onleaving the FundThe asset based fees, both administrationand investment, are calculated indetermining the unit price for eachinvestment optionThe switch fee is deducted fromyour account balance at the timeyou switch investmentsNot applicableShared equally by both parties and willbe deducted from each super benefit atthe time the benefit is splitNot applicable14