members
Fees and costs
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Fees from 1 July 2010
| Type of fee or cost | Amount | How and when paid |
|---|---|---|
Fees when your money moves in or out of the fund |
||
| Establishment fee: The fee to open your investment |
Nil | Not applicable |
| Contribution fee: The fee for 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 |
$37 each lump sum withdrawal, partial rollover or contribution split application. | The fee is deducted from your account when you make a lump sum withdrawal, partial rollover or contribution split application. |
| Termination fee: The fee to close your investment |
Nil | Not applicable |
| Management costs The fees and costs for managing your investment |
Administration fee |
The pro-rata administration fee is deducted from your account each quarter. |
| Indirect cost ratio (ICR) The estimated amount you pay for each investment option is shown on page 35 of the Super for Defined Benefit Division and Accumulation 2 members product disclosure statement. |
The ICR is deducted from investment earnings 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 account in each financial year is free of charge. All subsequent switches will be charged a fee of $26 per switch. | This is deducted from your accumulation component/account when you make an investment switch. |
|
Self-Select investment fee |
$30 per six-monthly statement period | Deducted from the accumulation component of your Defined Benefit Division account at the end of each statement period. |
| Family law transaction fee The fee charged when a request is made for information about a member's superannuation interest, or 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 $64 per transaction |
Payable when a member account information application is made. Splitting and flagging fees are deducted in equal proportions from both members' accounts. |
Insurance costs |
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| Inbuilt Death and Disablement benefits | The insurance charge for the inbuilt benefits is equivalent to $9.24* per $1,000 of salary upon which your employer contributions are calculated. | n/a |
| Optional insurance cover |
Insurance cover costs $1.40 per unit per week for Death and Disablement cover and 80 cents per unit per week for Death-only cover. | If you purchase this insurance it is deducted from your account each month. |
See the Fees and costs section of the
Super for Defined Benefit Division and Accumulation 2 members
product disclosure statement for additional information about fees and costs payable by members.
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