Our fees

As an Industry Super Fund, 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 28 September 2020. 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* Pre-retirement Super Pension:
    Cash Plus:
     0.06%
    Balanced: 0.18%
    Equity Plus: 0.23%
    Retirement Super Pension:
    Cash Plus: 
    0.02%
    Balanced: 
    0.14%
    Equity Plus: 
    0.19%
    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 pa), plus 0.25% direct expense recovery fee (capped at $750 pa)
    Retirement Super Pension: $6.50 per month (or $78 pa), plus 0.20% direct expense recovery fee (capped at $750 pa)
    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: 0.67%
    Performance related fees: 0.05%
    Equity Plus: 0.61%
    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 2020. 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 0.18% (estimated) For every $50,000 you have in the Balanced option you will be charged $90 each year.
    PLUS
    Administration fees
    Administration fee: $78*



    Direct expense recovery fee: 0.25%**
    And, you will be charged $78 in administration fees regardless of your balance

    plus $125 in administration fees based on your account balance.
    PLUS
    Indirect costs for the Balanced option
    0.72%*** (comprising 0.67% estimated investment cost plus 0.05% estimated performance related fee) And, indirect costs of $360 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 $653 for the Balanced option.

    Note: Additional fees may apply.

    * Based on a monthly fee of $6.50.  ** Capped at $62.50 per month ($750 pa).  *** 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 0.14% (estimated) For every $50,000 you have in the Balanced option you will be charged $70 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
    0.72%*** (comprising 0.67% estimated investment cost plus 0.05% estimated performance related fee) And, indirect costs of $360 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 $608 for the Balanced option.

    Note: Additional fees may apply.

    * Based on a monthly fee of $6.50.  ** Capped at $62.50 per month ($750 pa).  *** 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 or retirement income products, 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.

Fee terms

By law, super funds have to use specific terms to describe fees and costs. Those terms are explained below.

Activity fee

A fee is an activity fee if:

a) the fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee:

i) that is engaged in at the request, or with the consent, of a member; or

ii) that relates to a member and is required by law; and

b) those costs are not otherwise charged as an administration fee, an investment fee, a buy‑sell spread, a switching fee, an advice fee or an insurance fee.

Administration fee

An administration fee is a fee that relates to the administration or operation of the superannuation entity and includes costs that relate to that administration or operation, other than:

a) borrowing costs; and

b) indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an interposed vehicle or derivative financial product; and

c) costs that are otherwise charged as an investment fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Advice fee

A fee is an advice fee if:

a) the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:

i) a trustee of the entity; or

ii) another person acting as an employee of, or under an arrangement with, the trustee of the entity; and

b) those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an insurance fee.

Buy-sell spread fee

A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity.

Exit fee

An exit fee is a fee, other than a buy-sell spread, to recover the costs of disposing of all or part of members' interests in the superannuation entity.

Indirect cost ratio

The indirect cost ratio (ICR) for a MySuper product or an investment option offered by the superannuation entity, is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the superannuation entity attributed to the MySuper product or investment option.

Note: A fee deducted directly from a member’s account or paid out of the superannuation entity is not an indirect cost.

Insurance fee

A fee is an insurance fee if:

a) the fee relates directly to either or both of the following:

i) insurance premiums paid by the trustee of the superannuation entity in relation to a member or members of the entity;

ii) costs incurred by the trustee of the superannuation entity in relation to the provision of insurance for a member or members of the entity; and

b) the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk; and

c) the premiums and costs to which the fee relates are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an advice fee.

Investment fee

An investment fee is a fee that relates to the investment of the assets of the superannuation entity and includes:

a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and

b) costs that relate to the investment of assets of the entity, other than:

(i) borrowing costs;

(ii) indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an interposed vehicle or derivative financial product; and

(iii) costs that are otherwise charged as an administration fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee,

but does not include property operating costs.

Switching fee

A switching fee for a MySuper product is a fee to recover the costs of switching all or part of a member's interest in the superannuation entity from one class of beneficial interest to another.

A switching fee for a superannuation product, other than a MySuper product, is a fee to recover the costs of switching all or part of a member's interest in the superannuation entity from one investment option or product in the entity to another.

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