As easy as 1,2,3
Compare the simple case studies below to see how combining your accounts could help you today*.
Alex has one super account
Alex has $100,000 in super savings, but he pays only $556 in fees per year by having one super account.
With UniSuper, Alex pays some of the lowest fees in the industry.1
$16,680 in fees and costs over a 30 year period 2
Jude has three super accounts
Jude has $100,000 in super savings, but it's spread over three funds.
She's paying a total of $1,043 per year in fees.1
$31,290 in fees and costs over a 30 year period2
This comparison is to illustrate that having three super accounts can result in more fees than one super account alone. Actual outcomes may be different as actual fees may change in the future and therefore the figures shown are not guaranteed.
About this case study
1 This calculation is carried out by UniSuper Management Pty Ltd (USM) based on data sourced from Zenith CW Pty Ltd (Chant West) (ABN 20 639 121 403) Super Fund Fee Survey December 2020 (Survey). The calculation for Alex is based on the member having $100,000 in UniSuper's Balanced option. The calculation for Jude is based on the member having a total of $100,000 across three super funds with $33,333.33 in each. Fees per annum for this calculation total $1,043 which comprise of UniSuper $249 (as invested in UniSuper’s Balanced option), Aware Super $387 and Hesta $407. Fees for the two non-UniSuper funds are calculated based on the investment fees of their respective investment options similar to UniSuper's Balanced option within Chant West's Growth [61%- 80%] investment category as part of the Survey. The two other non-UniSuper funds are calculated based on the investment fees of their respective investment options similar to UniSuper's Balanced option within Chant West's Growth [61%- 80%] investment category as part of the Survey. The two other non-UniSuper funds were chosen because they are non-retail, open to the public and with funds under management between 50 to 100 billion dollars. Other non-UniSuper funds could have been selected for the purposes of comparison which may have resulted in a lower total fee. Where relevant, fees have been grossed-up by Chant West for consistent comparison as the published fees, by some funds, are net of tax.
2 For illustrative purpose, the total amounts over a 30-year period are calculated by USM based on simplified assumptions: 30 x $1,043 = $31,290 for Jude and 30 x $556 = $16,680 for Alex. This assumes that the fees in each future year remain the same. In practice, fees would generally increase as the account balance grows because some fee components are determined as a percentage of the account balance.
The Chant West data is based on information provided by third parties that is believed accurate at the time of publication. Past performance is not a reliable indicator of future performance. Your objectives, financial situation and needs have not been taken into account by Chant West and you should consider the appropriateness of this information having regard to your objectives, financial situation and needs, and read the relevant Product Disclosure Statement, before making any decisions. Chant West’s Financial Services Guide is available at www.chantwest.com.au