Set out below is a summary of TelstraSuper’s fees and costs payable by Personal Plus and Corporate Plus members (as well as defined benefit members with a voluntary accumulation account).  It is not a complete list of all fees and costs that may apply. For full details about TelstraSuper’s fees and costs, refer to your relevant product disclosure statement (PDS) and /or the Additional Information About Your Super Guide.

Type of fee or cost	Amount	How and when paid
Ongoing annual fees and costs (1)
Administration fees and costs (1,4)	$1 per week + 0.16% per annum (up to a limit of $1,600) $172 p.a. (annual platform fee) if you're invested in the Direct Access investment option (see the Direct Access Product Guide for more information).	The dollar-based fee is deducted from your account at the end of each quarter or when you leave TelstraSuper. The percentage-based fee is deducted in the calculation of unit prices daily. Your administration fees and costs are capped at $1,652 p.a. (5)
	Fund reserve expenditure# In the 2022/2023 financial year, in relation to the Fund as a whole, the Trustee spent $18.66m more out of the Fund reserve than the Trustee credited to the Fund reserve during that year from fees. This excess amount represents 0.08% of average Fund assets over the year. Payments from these reserves in a year do not increase member fees or reduce member returns for that year.	The Trustee uses the Fund reserve as and when needed throughout a year for Fund-related expenditure.
Investment fees and costs (1, 2, 3, 4)	0.78% p.a. for High Growth 0.77% p.a. for Growth 0.74% p.a. for Balanced 0.59% p.a. for Moderate 0.53% p.a. for Conservative 0.36% p.a. for International Shares 0.26% p.a. for Australian Shares 1.30% p.a. for Property 0.37% p.a. for Diversified Bonds and Credit 0.08% p.a. for Cash 0.77% p.a. for MySuper Growth 0.74% p.a. for MySuper Balanced 0.59% p.a. for MySuper Moderate 0.53% p.a. for MySuper Conservative 0.20% p.a. subject to a maximum of $3,000 p.a. for the Direct Access investment option	Deducted in the calculation of units prices daily.   See the Direct Access Product Guide for more information.
Transaction costs	0.06% p.a. for High Growth 0.09% p.a. for Growth 0.08% p.a. for Balanced 0.07% p.a. for Moderate 0.06% p.a. for Conservative 0.05% p.a. for International Shares 0.06% p.a. for Australian Shares 0.21% p.a for Property 0.00% p.a. for Diversified Bonds and Credit 0.00% p.a. for Cash 0.09% p.a. for MySuper Growth 0.08% p.a. for MySuper Balanced 0.07% p.a. for MySuper Moderate 0.06% p.a. for MySuper Conservative	Deducted in the calculation of unit prices daily.
Member activity related fees and costs
Buy-sell spread	The buy cost or sell cost ranges from 0.00% to 0.10% depending on the investment option. See the relevant PDS or the  Additional Information About Your Super Guide for more details.	Deducted in the calculation of unit prices at the time of the transaction.
Switching fee	Nil	N/A
Other fees and costs (4)	Other fees and costs such as activity fees, advice fees for personal advice or insurance fees may apply. Entry fees and exit fees cannot be charged.	The fees will depend on the activity you are undertaking and may be deducted from your account or you may need to pay the fee directly.

# The Trustee maintains a Fund reserve for expenditure on things such as strategic initiatives and provisioning to enable the Trustee to pay for certain contingences and potential liabilities, including payments to a new Trustee capital reserve. The Fund reserve is funded mainly from member account fees.

1. If your account balance for a product offered by TelstraSuper is less than $6,000 at the end of the financial 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.

2. Investment fees and costs includes amounts of 0.00% - 0.53% for performance fees. The calculation basis for these amounts is set out in your relevant PDS and/or the  Additional Information About Your Super Guide.

3. Investment fees and costs are estimates and include fees which are paid directly by the Trustee such as management fees, any applicable performance fees charged by investment managers and custodian fees. They also include indirect investment costs. Investment fees and costs are based on the investment fees and costs for the year ended 30 June 2023 except that amounts referable to performance fees are based on the average performance fees for the 5 years ended 30 June 2023. (If an investment has not existed or did not provision for performance fees for the last 5 financial years – performance fees are based on the average for the period since the option has existed and provided for performance fees). The actual amount you will be charged in subsequent financial years will depend on the actual investment fees and costs incurred for the relevant period. If you are invested in the MySuper Lifecycle and/or have more than one other investment option, the fee deducted from gross investment earnings will be apportioned. 

4. See the Additional Information About Your Super Guide and/or you relevant PDS for further information.

5. Refer to the 'Fee rebate' section of the Additional Information About Your Super Guide and/or you relevant PDS for further information.

Administration fees and costs

The $1 per week administration fee is deducted from your account at the end of each quarter or earlier if you leave TelstraSuper. The 0.16% pa indirect administration fee is deducted daily as part of the unit price calculation. 

Fee rebate

If you have an account balance of over $1m, or you and your spouse* with whom you're presently living, have combined TelstraSuper Personal Plus, TelstraSuper Corporate Plus and/or TelstraSuper RetireAccess account balances that exceed $967,500, you may claim an administration fee rebate.† If you are eligible for the rebate, your administration fees and costs are capped at $1,652 p.a.  Defined Benefit members are not eligible for the rebate.

The fee rebate applies to the annual administration fee of your account and effectively reduces the administration fee applied to your account.

The appropriate fee rebate based on the account balance (as at the end of every month) will be rebated monthly and applied to the relevant account within seven Melbourne business days in arrears following the last day of the month.

Any transactions made during the last three days of each month may not be included in the end-of-month balance.

How to apply

If you have an account balance over $1m you will receive the fee rebate automatically.

To apply for the joint fee rebate you need to complete a Fee Rebate Application – Eligible Couple form or call us on 1300 033 166.

Applications received by us during the last three working days of a month may not be eligible for the joint fee rebate for the month in which the application was received.

If you require any information about fee rebates or linking spouse accounts, please contact us.

Conditions of rebate

* For the purposes of the fee rebate, both spouses must be current members of TelstraSuper Corporate Plus, TelstraSuper Personal Plus or TelstraSuper RetireAccess.

To be eligible for a rebate members will need to complete an application form to link spouse accounts and will be subject to meeting eligibility terms and conditions. The trustee reserves the right to withhold the rebate if the eligibility criteria are no longer met.

† The Rebate will be calculated on the amount of the account balance(s) that at the end of each month exceed(s) $1m for singles and $967,500 for a couple.  The rebate will be split proportionately between eligible spouses’ accounts, according to the balance of each account.

Fee cap

If your account balance is less than $6,000 at the end of a financial year (or when you leave the Fund) certain fees and costs charged to you in relation to administration and investment will be capped at 3% of your account balance. Any applicable fees charged in excess of the cap during the year must be refunded. 

Investment fees and costs

To cover the cost of investing your retirement savings, TelstraSuper charges competitive investment fees and costs, which vary depending on your investment choice, as outlined in the table above. 

Investment fees and costs are fees and costs that relate to the investment of TelstraSuper’s assets and include: 

• fees paid for the exercise of care and expertise in the investment of TelstraSuper’s assets (including performance fees); and 
• costs incurred by TelstraSuper that: 
  - relate to the investment of TelstraSuper's assets; and 
  - are not otherwise charged as administration fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee. 

Buy-sell spreads

Type of fee or cost	Amount	How and when paid
Buy-sell spread: the cost of member-initiated transactions in relation to the buying and selling of units in TelstraSuper’s investment options.	0.00% for all investment options except for Property which is 0.10%	Reflected in the unit price calculation at the time of the transaction

Size versus cost

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

Comparing costs

When comparing the fees and costs of your TelstraSuper account with those of other investment products, it is important to consider all the fees and costs involved.