Fees and costs – additional
information
The information in this document forms part of the AustralianSuper
Product Disclosure Statements dated 30 June 2017 for:
›› AustralianSuper
›› GHD Superannuation Plan
›› Broadspectrum Superannuation Plan
›› Personal Plan
›› Deloitte Superannuation Plan
›› Public Sector Division
›› Finsuper Division
›› Super Options
Fees to manage your account
The main fees to set up and manage an account are shown below and will depend on the investment option your super
is invested in.
PreMixed and DIY Mix options
Type of fee or cost
Investment fee
Administration fee
Amount
Nil
$1.50
Buy sell spread
Nil
Switching fee
Nil
Exit fee
$35
Advice fees relating to all members investing
in a particular MySuper product or investment
option. See Fee definitions on page 3 for
more information.
$0–295
How and when paid
Directly paid from your account. See Indirect cost ratio on
page 2 for the cost to manage your investment.
This is the administration fee.* Calculated weekly and deducted monthly from
your account.
Charged on withdrawals.
Over-the-phone advice service.†
Fees for other advice as negotiated with your adviser.‡
Deducted directly from your account after advice is received.#
*You pay only $1.50 per week in administration fees, regardless of how many options you invest in.
†General advice, and personal advice on some subjects, is provided to members at no extra cost. A fee of $295 (including GST) may be charged for advice about
transition to retirement strategies, and transferring your super savings to a retirement income account.
#If there is a cost for over-the-phone advice, we will let you know before you receive that advice and will ask for your agreement to pay this cost from your
AustralianSuper account before proceeding.
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Indirect cost ratio (the cost to manage your investment) for 2015/2016
Deducted from before-tax investment returns on 30 June (earlier if you close your account), before returns are added
to your account.
% a year of your account balance*
DIY Mix options
% a year of your account balance*
0.73
Australian Shares
0.31
0.64
International Shares
0.50
Socially Aware
0.65
Property
0.64
Indexed Diversified
0.12
Diversified Fixed Interest
0.39
Conservative Balanced
0.54
Cash
0.05
Stable
0.39
Capital Guaranteed
0.06
PreMixed options
High Growth
Balanced
#
*This is the cost to manage your investments. It includes investment
management, custodian and asset consultant fees. Fees paid to investment
managers may also include performance fees when their investment returns
exceed agreed performance benchmarks. Fees are calculated looking back as
at 30 June each year (using the average value of all the assets in the investment
option over the year to 30 June). These may change from year to year.
#Our Socially Aware option was known as Sustainable Balanced until 29 May 2016.
AustralianSuper’s Member Direct investment option
The Member Direct investment option has a portfolio administration fee of $395 per year. This fee is calculated daily
and deducted from your Member Direct transaction account on the first business day of the month.
Brokerage fees for shares and exchange traded funds (ETFs)
Brokerage fees apply for trading shares and exchange
traded funds (ETFs). A flat fee applies to the first $5,000
of your trade. Scaled cumulative brokerage rates apply
to each component of your trade value above this,
at the levels set out below.
Transaction amount
Brokerage fee†
$0 to $5,000
$15
$5,001 to $10,000
0.30%
$10,001 to $30,000
0.20%
$30,001 to $50,000
0.16%
$50,001+
0.12%
Management fees for ETFs
Fees incurred by the ETF, including management fees,
custody costs and other expenses may be deducted
from the returns from the underlying securities in the ETF.
As such, the price which is quoted on the ASX for the ETF
reflects all fees and expenses incurred in the management
of the ETF. These fees and costs may cause the total return
of the ETF to be different to the return of the underlying
index which the ETF seeks to track. For details of the
management fees please visit the website of the ETF issuer.
Term deposit early redemption costs
You can only break your term deposit early if you meet a
superannuation condition of release – view the Withdraw
your super early page at australiansuper.com/AccessSuper
for details. Interest rate reductions apply – see the
Investment Menu available at
australiansuper.com/MemberDirect
†The rates above exclude GST
You can view the current list of
ETFs available in the AustralianSuper
Member Direct option at
australiansuper.com/MemberDirect
Other fees
Fees and charges for the other AustralianSuper investment
options also apply, because you need to keep a minimum
of $5,000 invested in one or more of the other options.
Other fees and costs
Type of fee or cost
Amount
How and when paid
Adviser service fee: This is deducted after you authorise payment to an
eligible adviser for the advice you receive about your investment with
AustralianSuper.* See Fee definitions below for more information.
As negotiated between you and
your adviser‡ and as outlined
in the Statement of Advice.
Deducted directly from your account after the advice
has been received. See Fee definitions below for more
information.
Family Law Act information request: This is charged when an eligible
person asks for information under the Family Law Act.
$50
Charged to the person asking for the information.
Family Law Act splitting account fee: This is charged
to put a family law splitting order or agreement in place.
$70 (shared equally between
the
two parties)
Charged to your account when the split happens.
Family Law Act payment flagging agreement: This is charged when
a payment flagging agreement to defer the splitting of a super interest
is put in place.
Nil
n/a
Contribution splitting fee: This is charged to split your contributions
with your spouse.
$70
Charged to your account when the split happens.
*The adviser service fee shown is deducted after the savings from reduced input tax credits are taken into account. This means that the adviser service
fee deducted from your account is less than the full fee that’s paid to the financial adviser.
The Trustee can change the fees which you may be charged. You’ll be given at least 30 days notice before any increase
in fees takes effect.
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Understanding how tax deductions affect fees
›› Insurance costs: claimed as a deduction against members’ contributions before contributions tax is calculated
and charged individually to members.
›› Investment-related costs (such as manager fees, brokerage, custodian and asset consultant fees): claimed as a deduction
against taxable investment income before net returns are added to members.
›› Account administration fees (including exit fees and family law fees): not allowed as a deduction in members’ individual
accounts.Insurance costs: claimed as a deduction against members’ contributions before contributions tax is calculated
and charged individually to members.
Fee definitions
Definitions of the most common fees are included here. For more definitions, refer to our dictionary at australiansuper.com
Administration fee
The fee charged by a fund to cover administration costs. AustralianSuper charges a low flat fee of $1.50 per week.
Spread
(Buy–sell spread)
This is a fee to recover transaction costs incurred by the trustee in relation to the sale and purchase of assets (for example shares).
Exit fee
A fee that a fund may charge when you make a full or partial withdrawal of your super.
Switching fee
A fee that a fund may charge when you change investment options.
Investment fee
The fee covering costs associated with the investment of members’ assets, which includes investment managers’ fees, consultants’ fees,
and custodian fees. The fee is directly paid from members’ accounts. AustralianSuper does not charge an investment fee but does charge
an indirect cost ratio (see below) for the cost of managing members’ investments.
Adviser service fee This is the fee you incur directly for receiving advice about your investment in AustralianSuper. This can include:
(Advice fees)‡
› initial advice on setting up your account
› once-off advice relating to your investment options, insurance cover, contributions to super and retirement income options, and
› advice and/or monitoring in relation to your Member Direct account.
An advice fee for other advice is deducted on receipt of a Paying an adviser service fee form. There is no limit to the frequency with which
once-off advice fees can be deducted. However, for each new request you must submit a Paying an adviser service fee form. If you request
the advice fee to be deducted from your Member Direct transaction account, you will have the option to select the fee be paid annually,
quarterly or monthly for a one year period. Each year, a new Paying an adviser service fee form is required to be submitted for fee payments
to continue to your adviser.
The adviser service fee can only be deducted from your account for services provided by a financial adviser who is registered and accredited
with AustralianSuper, who has been provided with training on AustralianSuper products by the Fund.
The cost of advice on non-super matters can’t be deducted from your account.
To make an appointment with a financial adviser, call us on 1300 300 273.
Indirect cost
ratio (the cost
to manage your
investment)
This is the cost to manage your investments. It includes investment management, custodian and asset consultant fees. Fees paid to
investment managers may also include performance fees when their investment returns exceed agreed performance benchmarks. Fees are
calculated looking back as at 30 June each year (using the average value of all the assets in the investment option over the year to 30 June).
These may change from year to year.
Activity fees
This is a fee you will incur directly for an additional requested service, such as a request to split your super contributions with your spouse.
‡The financial advice you receive will be provided under the Australian Financial Services Licence held by third parties and not by AustralianSuper Pty Ltd
(AustralianSuper) and therefore is not the responsibility of AustralianSuper. With your approval, a fee may be charged if a Statement of Advice is provided.
Call
1300 300 273
(8am to 8pm AEST/AEDT weekdays)
Email australiansuper.com/email
Web
australiansuper.com
Mail
GPO Box 1901, Melbourne VIC 3001
This document was issued in June 2017 by AustralianSuper. This document is of a general nature and does not take into account your
personal objectives, situation or needs. Before making a decision about AustralianSuper, consider your financial requirements and read
our Product Disclosure Statement, available at australiansuper.com/pds or by calling 1300 300 273. Issued by AustralianSuper Pty Ltd
ABN 94 006 457 987 AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898 SPIN STA0100AU, 26/50 Lonsdale St, Melbourne
VIC 3000. AustralianSuper MySuper Authorisation 65 714 394 898 856.
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