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Low fees

Telstra Super offers a low administration fee and competitive investment management fees, plus with Telstra Super there are no entry fees, exit fees or commissions.

Fees and costs

The table below shows the possible fees and other costs that you may be charged. These fees and costs may be deducted from your balance, from the returns on your investment or from the fund assets as a whole.

Type of fee or costAmount How and when paid 

Establishment (entry) fee: the fee to open your investment 		 Nil          n/a 
Contribution fee: the fee on each amount contributed to your investment – either by you or your employer  Nil  n/a 
Withdrawal fee: the fee on each amount you take out of your investment Nil     n/a 
Termination (exit) fee: the fee to close your investment  Nil  n/a 
Management costs    
The fees and costs for managing your investment 0.6% pa Deducted daily in the calculation of unit prices.
+ +                       
The amount you pay for specific investment options Between 0.15% and 0.71% pa. Refer to 2007/2008 investment management fees below for further details                                   
Service fees                                                                
Investment switching fee: the fee for changing investment options The first four switches per financial year are free. Fifth and subsequent switches cost 0.2% of assets moved Deducted from your account at the time of the switch. Not subject to negotiation

Management costs

Management costs include administration fees and investment management fees.

Administration fees

Telstra Super Personal Plus and Telstra Super RetireAccess charge one low administration fee of only 0.6% pa. The administration fee covers the cost of looking after your super for the year and is deducted daily in the calculation of the unit prices . Some members may also be eligible for an administration fee rebate (see below for details).

If you have automatically transferred to Telstra Super Personal Plus from another Telstra Super arrangement you will not be charged administration fees for the first 90 days of your Telstra Super Personal Plus membership.

Administration fee rebate

If your account balance exceeds $500,000 or you are part of an eligible couple who have linked Telstra Super Personal Plus and /or Telstra Super RetireAccess accounts with a combined value exceeding $500,000 you may be eligible to receive a monthly fee rebate on the portion of your balance that exceeds $500,000 at the end of each month. Other conditions apply.

To apply to link accounts, download a Joint Account Fee Rebate form (40kb).

Account balance Fee paid 
Amount of balance up to $500,000  0.6% pa 
Amount of balance over $500,000  Administration fee is rebated 

How the rebate works

The rebate is calculated as follows:

(Account balance at the end of the month less $500,000 x 0.6%) ÷ 12 months.

Example

Louise has an account balance of $550,000 at the end of October. The amount of Louise's account balance eligible for the monthly rebate is $50,000 ($550,000 less $500,000). Louise’s monthly fee rebate is calculated as follows:

($50,000 X 0.6%) ÷ 12 = $25.00 rebate for October

Investment management fees

Investment management fees below are an estimate for the 2007/2008 year based on the investment managers in place, their fee structure and the asset allocations for the financial year to 31 May 2008. The exact cost of managing your investment will vary from time to time. If you have more than one investment option, the fee deducted from gross investment earnings will be apportioned according to your investment mix.

At Telstra Super, some of our underlying investment managers receive performance fees. These fees are included in the total estimated investment management fees shown in the table below. These fees are calculated as an agreed percentage of any investment performance above an agreed hurdle rate.

The exact cost of managing your investment will vary from time to time due to changes to asset class weightings within investment options, asset class investment performance, investment manager or mandate changes, increases or decreases in the funds under management of a particular manager and/or performance fees payable to investment managers.

2007/2008 investment management fees
  Base investment management fee  + Performance fee  = Estimated investment management fee
Growth 0.41%   0.06%   0.47%
Balanced 0.36%   0.06%   0.42%
Conservative 0.26%   0.05%   0.31%
International Shares 0.54%   Nil   0.54%
Australian Shares  0.36%    0.06%    0.42% 
Property  0.47%    0.24%    0.71% 
Fixed Interest  0.21%    Nil    0.21% 
Cash  0.15%    Nil    0.15% 

Size versus cost

Telstra Super Pty Ltd uses a number of specialist investment managers to manage your super investment. Due to the size of our fund, Telstra Super is able to negotiate wholesale fees.  These fees are lower than an individual member could negotiate.

Comparing costs

When comparing the fees of your Telstra Super account with those of other investment products, it's important to consider all the costs involved. With Telstra Super, the total cost of managing your investment is generally low compared to the fees that usually apply to super investments.