Membership Guide - SuperFacts.com

Table 8 contains an example of the fees payable for a member investing in the Balanced option using certain assumptions aboutcontributions and account balance. You should use this table to compare Lutheran Super with other superannuation products.Table 8: Fees and costsExample – the Balanced optionContribution fees Nil For every $5,000 you will incur no costBalance of $50,000 with total contributions of $5,000 during the yearPLUS management costsEQUALS cost of Fund0.82% (0.30% + 0.52%) ofyour super account balance+ $52 ($1 per week)For every $50,000 you have in the Fund you will be charged $410.00 each yearplus $52.00 in administration fees regardlessof your balanceIf you put in $5,000 during a year and your balance was $50,000, then for thatyear you would be charged fees of $462.00What it costs you will depend on the investment option(s) you chooseTransaction and operating costsThe buy price of units in an investment option may vary from the sell price of those units. The difference between the buyand sell price is commonly called the ‘buy/sell’ spread and represents an allowance for transactional and operational costs,expenses, commissions, brokerage and other fees incurred in buying or selling part of the option’s underlying investments.Any buy/sell spread is additional to the management costs you incur that are detailed in Table 7. No part of the buy/sellspread is paid to the Trustee or any external investment manager, nor is it subject to GST.Table 9: Buy/sell spreadsOption Buy/sell spread %Growth – SRI Australian Shares 0.50Growth – Australian Shares 0.50Growth 0.41Balanced 0.44Capital Stable 0.21Capital Secure 0.00Member protectionGovernment legislation aims to protect small accounts from erosion from fees and charges. The Trustee currently appliesthis requirement so that if your super account balance is less than $1,000, any fees charged to your account will generallybe limited to no more than the investment earnings on your account balance. Member protection rules do not apply todeductions for insurance premiums for insurance cover you have as part of your Fund membership.Insurance premiumsSee the Insurance section on page 8 of this Membership Guide for details of the cost of insurance cover. These premiums areadditional to the fees detailed on pages 14 and 15.Adjustments to feesThe Trustee reviews the fees set out above from time to time. You will be notified of any increases at least 30 days prior toany fee change.For more information about fees and charges please read the PDS.15