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Our fees

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 2019. These may be deducted from your money, from the returns on your investment or from the Fund's assets as a whole.

    Find out more information about fees and costs for our Pre-retirement Super Pensions and Retirement Super Pensions in our TransPension Product Disclosure Statement.

    Management costs 

    Type of fee Amount When and how paid
    Investment fee* Cash Plus: 0.03%
    Balanced: 0.15%
    Performance related fees: 0.00%

    Equity Plus: 0.18%
    Performance related fees: 0.00%
    Not deducted from your account. Deducted from total Fund assets before unit prices are determined.
    Administration fee* Pre-retirement Super Pension: $6.50 per month (or $78 per annum*), plus 0.25% direct expense recovery fee (capped at $750 pa)

    Plus 0.06% indirect expense recovery fee (per annum)

    Retirement Super Pension: $6.50 per month (or $78 per annum*), plus 0.20% direct expense recovery fee (capped at $750 pa)
    Calculated monthly and deducted directly from your account.

    Not deducted from your account. 
    Deducted from total Fund assets before unit prices are determined.

    Calculated monthly and deducted directly from your account.

    Buy-sell spread Nil Not applicable.
    Switching fee (for changing investment options) Nil Not applicable.
    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 requested) may also be charged to your account.
    Indirect cost ratio* Cash Plus: 0.07%
    Balanced: 0.84%
    Performance related fees: 0.16%
    Equity Plus: 0.75%
    Performance related fees: 0.11%
    Not deducted from your account. Deducted from total Fund assets before unit prices are determined.

    If your account balance is less than $6,000 on the last day of the financial year or on leaving the Fund, the total amount of administration fees, investment fees and indirect costs charged for that year will be capped at no more than 3% of your account balance. Any amount charged in excess of that cap must be refunded.

    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 2018. Actual amounts may vary.

  • Example of annual fees and costs

    Pre-retirement Super Pension

    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 0.15% (estimated) For every $50,000 you have in the Balanced option you will be charged $75 each year.
    PLUS
    Administration fees
    Administration fee: $78*


    Direct expense recovery fee: 0.25%**


    Indirect expense recovery fee: 0.06%
    And, you will be charged $78 in administration fees regardless of your balance

    plus $125 in administration fees based on your account balance

    plus $30 will be deducted from total Fund assets before unit prices are determined.
    PLUS
    Indirect costs for the Balanced option
    1%*** (comprising 0.84% estimated investment cost plus 0.16% estimated performance related fee) And, indirect costs of $500 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 $808 for the Balanced option.

    Note: Additional fees may apply.

    * Based on a monthly fee of $6.50.  ** Capped at $62.50 per month ($750 per annum).  *** Gross of tax, but net of reduced input tax credits.

    Retirement Super Pension

    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 0.15% (estimated) For every $50,000 you have in the Balanced option you will be charged $75 each year.
    PLUS
    Administration fees
    Administration fee: $78*


    Direct expense recovery fee: 0.20%**
    And, you will be charged $78 in administration fees regardless of your balance

    plus $100 in administration fees based on your account balance
    PLUS
    Indirect costs for the Balanced option
    1%*** (comprising 0.84% estimated investment cost plus 0.16% estimated performance related fee) And, indirect costs of $500 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 $753 for the Balanced option.

    Note: Additional fees may apply.

    * Based on a monthly fee of $6.50.  ** Capped at $62.50 per month ($750 per annum).  *** Gross of tax, but net of reduced input tax credits.

  • Other fees that may apply

    Fee cap

    If your account balance is less than $6,000 on the last day of the financial year or upon leaving the Fund, the total amount of administration fees, investment fees and indirect costs charged for that year will be capped at no more than 3% of your account balance. Refunds of any amount charged in excess of that cap will be made within three months.

    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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