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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 only 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 2016. 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 Nil Not applicable
    Administration fee $1.50 per week Deducted directly from your account monthly
    Buy-sell spread Nil Not applicable
    Switching fee (for changing investment options) Nil Not applicable
    Exit fee $50 for each withdrawal or rollover (not income 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: 0.42% pa (comprising 0.08% pa investment cost plus 0.34% pa expense recovery fee)
    Balanced: 1.01% pa (comprising 0.67% pa investment cost plus 0.34% pa expense recovery fee) plus 0.07% pa estimated performance fee where payable
    Equity Plus: 1.03% pa (comprising 0.69% pa investment cost plus 0.34% pa expense recovery fee) plus 0.06% pa estimated performance fee where payable
    Deducted from total Fund assets before crediting rates are determined (not deducted directly from your account).
  • 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 (MySuper) Balance of $50,000
    Investment fees Nil For every $50,000 you have in the Balanced option you will be charged $0 each year.
    PLUS
    Administration fees
    $78 ($1.50* per week) And, you will be charged $78 in administration fees regardless of your balance.
    PLUS
    Indirect costs for the Balanced option
    1.01% (comprising 0.67% investment cost plus 0.34% expense recovery fee) plus 0.07% estimated performance fee where payable And, indirect costs of $540 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 $618* for the Balanced option.

    Note: Additional fees may apply. And, if you leave the Fund, withdraw or rollover an amount out of the Fund (but excluding income payments), you will also be charged an exit fee of $50 (unless you are transferring to another TWUSUPER division).

  • Other fees that may apply

    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.

 

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