Low fees
Transuper members pay a low $1.275 per week member (administration) fee.
There are no establishment, contribution, termination, or investment switching fees. See a current fee example below.
Example
Example of fees on Balanced investment option from 27 November 2010
| Amount |
Balance of $50,000 with total contributions of $5,000 during year |
| Nil |
For every $5,000 you put in, you will be charged $0 |
| 1.07*% pa |
For every $50,000 you have in the Fund
you will be charged $535.00 per annum |
| $66.30 pa |
Fixed member fee |
| $601.30 pa |
If your balance is $50,000 then for that year you will be charged this fee. |
* This percentage is made up of 0.41% pa expense recovery fee, 0.01% pa member benefit protection fee and 0.65% painvestment management cost. Investment management costs include an allowance for performance-based fees of 0.05% pa.
The above example assumes that management costs were calculated on a year-end balance of $50,000 and that no lump sum withdrawals were made for the period.
Other fees
The fees described below are those most likely to be charged to your account or deducted from investment returns before being applied to your account.
Expense recovery fees
An expense recovery fee of 0.41% pa is deducted from the total gross assets of the Fund before crediting rates are declared to cover expenses incurred by the Fund. This fee is based on estimated costs for the 2010/11 financial year.
Investment management fees
Investment management fees are deducted from the before tax earnings of each investment option before the returns of our investment options are declared to cover investment-related expenses. These include investment manager fees, brokerage, government duties and taxes.
Investment management fees are estimated each financial year and are based on investment manager information and the Fund’s strategic asset allocation at 30 June.
Investment management fees as at 27 November 2010 are as follows:
- Equity Plus 0.65% pa
- Balanced 0.60% pa
- Cash Plus 0.00% pa
Performance fees
If payable, performance-based fees are deducted from the before tax earnings of the relevant investment option.
A performance fee will only be payable where an agreement exists with a manager and they outperform the required benchmarks.
As performance targets vary between investment managers, it is not possible to provide a precise figure for the performance fees for each investment option.
Performance-based fees for 2010/11 are based on outperformance of 1% and are estimated as follows:
- Equity Plus 0.04% per annum
- Balanced 0.05% per annum
- Cash Plus 0.11% per annum
Withdrawal fee
A $50 fee is applied to every full or partial lump sum withdrawal, including transfers out of the Fund at the time the withdrawal is processed.
Transuper does not charge a withdrawal fee if a member transfers their super between divisions of the Fund.
Go to forms and publications and download your Transuper PDS for full details about all possible fees and charges.