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Low fees

We keep our fees low so you have more super to enjoy in retirement.

As an Industry SuperFund, our fees are used to cover the costs of running TWUSUPER – not to make profits for shareholders. There are no hidden fees or charges and we don’t pay commissions to financial advisers.

  • Fees and costs to your account

    The table below shows fees and other costs you may be charged from 1 July 2017. These may be deducted from your money, from the returns on your investment or from the Fund's assets as a whole.

    Find more information about fees and costs in our TransPension Product Disclosure Statement.

    Management costs 

    Type of fee Amount When and how paid
    Investment fee Cash Plus: 0.02% pa 
    Balanced: 0.16% pa
    Performance related fees: 0.00%

    Equity Plus: 0.22% pa
    Performance related fees: 0.00%
    Deducted from total Fund assets before crediting rates are determined (not deducted from your account)
    Administration fee $1.50 per week


    Plus 0.33% expense recovery
    Deducted directly from your account monthly

    Deducted from total Fund assets before crediting rates are determined (not deducted from your account)
    Buy-sell spread Nil Not applicable
    Switching fee (for changing investment options) Nil Not applicable
    Exit fee $50 for each withdrawal or rollover (not pension payments) Deducted directly from your account when the transaction is processed (this fee does not apply if you transfer to another TWUSUPER division)
    Advice fee relating to all members investing in a particular investment option Nil Not applicable
    Other fees and costs Activity fees relating to Family Law and personal advice (if these services are requested) may also be charged to your account
    Indirect cost ratio Cash Plus: 0.08% pa 
    Balanced: 0.65% pa
    Performance related fees: 0.18% 
    Equity Plus: 0.68% pa
    Performance related fees: 0.18%
    Deducted from investment earnings before crediting rates are determined (not deducted directly from your account)

    See Investment detail  for further information on the above fees (including other fees and costs). The investment fees and indirect cost ratios (including any performance related fees) are estimated based on information for the financial year ended 30 June 2017. Actual amounts may vary.

  • Example of annual fees and costs

    Here is an example of how the fees and costs for the Balanced option for this retirement income product can affect your investment over a 1 year period. You can use this information to compare this retirement income product with other retirement income products.

    Example – Balanced Balance of $50,000
    Investment fees 0.16% pa (estimated) For every $50,000 you have in the Balanced option you will be charged $80 each year
    PLUS
    Administration fees
    Administration fee: $78 ($1.50 per week)

    Expense recovery: 0.33% pa
    And, you will be charged $78 in administration fees regardless of your balance plus an expense recovery of $165
    PLUS
    Indirect costs for the Balanced option
    0.83% pa (comprising 0.65% estimated investment cost plus 0.18% estimated performance related fee) And, indirect costs of $415 each year will be deducted from your investment
    EQUALS
    Cost of product
      If your balance was $50,000, then for that year you will be charged fees of  $738  for the Balanced option.

    Note: Additional fees may apply. And, if you leave the Fund or withdraw an amount out of the Fund, you may be charged an exit fee of $50 and a buy-sell spread, which also applies whenever you make an exit or investment switch. The buy-sell spread for exiting is 0% (this will equal $0 for every $50,000 you withdraw).

  • Other fees that may apply

    Exit fee

    You will be charged an exit fee of $50 for each lump sum withdrawal or rollover from your account (but excluding pension payments), unless you are switching from one type of TWUSUPER membership to another.

    Family Law valuation fee

    A fee of $50 applies for every request made by an eligible person for information about your account under Family Law legislation. The fee is charged to the person requesting the valuation when the request is made and is payable by cheque.

    Family Law account splitting fee

    If your account needs to be split to effect a Family Law splitting order or arrangement, a fee of $50 applies. The fee will be divided evenly and deducted from your account and your former spouse’s entitlement when the account split is processed.

    Personal advice fee

    If you seek personal financial advice from our preferred provider, the fee is agreed between you and the provider. Generally, if the financial advice is about super, you can have this fee deducted from your account.

    We don’t pay commissions to financial advisers.

  • Fee changes

    All fees may be revised or adjusted from time to time without your consent, and we may also introduce new fees. However, we will give you at least 30 days’ notice of any material increase in fees, unless the increase arises only from an increase in costs.

 

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