Administration fees help to cover the cost of running the fund. These fees will come out of your accumulation account balance. Like most superannuation funds we deduct investment fees and transactions costs, typically from investment earnings before they are added to your account balance. We’re able to keep this fee low because our expert in-house investment team manage a lot of our funds themselves, more than the average super fund.
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The information contained in this video is of a general nature only and contains general advice. It’s been prepared without taking into account your individual objective, financial situation or needs. Before making any decision about your super you should consider your personal circumstances, the relevant product disclosure statement and target market determination for your membership category and whether to consult a qualified financial adviser.
You can access a copy of the product disclosure statement and target market determination relevant to your membership category by visiting unisuper.com.au/pds.
This video has been produced by UniSuper Management Ltd. ABN 91 006 961 799. AFSL No. 235907 on behalf of UniSuper Limited, ABN 54 006 027 121 AFSL No. 492806, the Trustee of UniSuper, ABN 91 385 943 850.
UniSuper might be one of Australia’s largest funds, but our fees are some of the lowest you’ll find.
We’re proud to be an industry super fund. We don’t pay profits to shareholders or commissions to advisers.
There are also no joining fees, contribution fees, or exit fees.
You’ll pay an administration fee for the management of your account. You’ll also pay investment fees and indirect costs for the management of your investments.
If you have insurance cover through your super, you’ll be charged premiums. You should look at the appropriate insurance booklet to find out the exact cost of the premiums.
UniSuper Advice is a financial advice service available to all current and eligible UniSuper members and their families. You’ll receive a quote before proceeding with any service, and you may be able to deduct your fees from your super, depending on the type of financial advice you need and the type of account you have.
You can also find more information on the fees we charge at unisuper.com.au/fees or in your relevant product disclosure statement.
If you have multiple accounts in different super funds, it’s a good idea to compare the fees you pay in each, and consider combining your accounts.
Because even small differences in the fees you pay can add up to tens of thousands of dollars when you retire.
Before combining your super, consider the possible effects this might have on things like the fees you pay, your insurance and the tax on your super. There may be other effects too so it’s best to seek financial advice if you’re unsure. If you’re not a UniSuper member and want to join, see if you’re eligible by visiting unisuper.com.au/join.
And if you have questions about fees or anything else, chat with one of our online consultants during business hours or call us on 1800 331 685.
What your fees might look like
The total fee is the administration fees and costs plus investment fees and costs, plus transaction costs. See the indicative breakdown of fees for an accumulation product, based on the Balanced (MySuper) investment option.2
|Example Balanced (MySuper) option||Balance of $50,0004|
|Administration fees and costs||The lesser of $96 or 2% of your account balance per year.||For every $50,000 you have in the superannuation product, $96 will be deducted from your balance.|
|PLUS Investment fees and costs||0.42% p.a. 5,6||And, you will be charged or have deducted from your investment $210.|
|PLUS Transaction costs||0.09% p.a. 5,6,7||And, $45 will be deducted from your investment|
|Equals cost of product||If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $351.|
Different investment options have different costs, there may be other fees and costs related to activities you undertake, for a full breakdown see the Investment costs page.
A product for every member
The way you join UniSuper will determine which product you’re in. To find out, you can log in or create an online account.
You work within the higher education and research sector.
You transferred from the Defined Benefit Division.
You and your employer need to be eligible.
Things you need to know
1If your account balance is less than $6,000 at the end of UniSuper’s income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.
2Additional fees may apply. If your account is invested in investment options other than the Balanced investment option, the investment fees and costs and transaction costs will be different to those above. Refer to ‘Additional explanation of fees and costs’ in the product disclosure statement of your relevant product.