members
Fees and costs
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Flexi Pension fees as at 1 July 2011
| Type of fee or cost | Amount | How and when paid |
|---|---|---|
Fees when your money moves in or out of the fund |
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| Establishment fee: The fee to open your investment. |
Nil. | Not applicable. |
| Contribution fee: The fee on each amount contributed to your investment - either by you or your employer. |
Nil. | Not applicable. |
| Withdrawal fee: The fee on each amount you take out of your investment. |
$38 each partial commutation. | The fee is deducted from your account for each partial commutation you make from your Flexi Pension account. |
| Termination fee: The fee to close your investment. |
$38. | The fee is deducted from your account when you close your Flexi Pension account by fully commuting the total account balance. |
Management costs |
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| The fees and costs for managing your investment | Administration fee $167 per annum ($13.91 per month). |
The amount of $13.91 is deducted from your account monthly in arrears, regardless of the payment frequency you have chosen. |
| Asset fee 0.30% of your account balance per Flexi Pension account, capped at $2,000 per account per financial year. |
The fee is deducted from your account on a six-monthly basis, based on your account balance before investment earnings are applied. | |
|
Indirect cost ratio (ICR) Find out the estimated amount you pay for each investment option here. |
The ICR is deducted from the assets of the investment option on a quarterly basis before the calculation of investment returns. | |
Service fees |
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| Investment switching fee The fee for changing investment options. |
The first switch per pension account in a financial year is free of charge. Subsequent switches will be charged a fee of $27 per switch. |
The fee is deducted from all the investment option(s) you have chosen on a pro-rata basis from your pension account when you make a switch. |
|
Self-Select investment fee The fee applies if you invest your account in one or more investment options from the Self-Select investment menu.
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$30 per six-monthly .statement period. | The fee is deducted from all the investment options you have chosen on a pro-rata basis from your pension account at the end of each statement period. |
| Payment frequency alteration fee |
First request per account in a financial year is free. Subsequent requests will be charged at $25 per request. | The fee is deducted from your account when application to change your payment frequency is made. |
|
Family law fee The transaction fee is charged when the following actions take place: a payment split, a payment flag, lifting a payment flag where it does not result in a payment split or terminating a payment flag. |
$77 per application. $66 per transaction. |
The application fee is payable when a member account information application is made. The transaction fees for splitting and flagging are deducted in equal proportions from both members' accounts. If all of the superannuation interest is to be paid to one party in a payment split, then that party will pay the entire transaction fee. |
See the fees and other costs for Flexi Pensions section in Your guide to pensions for additional information about fees and costs payable by members.
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