From 30 September 2017, new rules from the regulator, the Australian Securities and Investments Commission (ASIC), require all super funds to change the way they disclose investment fees and costs. Find out more.
TelstraSuper offers competitive administration fees and investment fees and costs, plus with TelstraSuper there are no entry fees, exit fees or commissions.
Set out below is a summary of TelstraSuper’s fees and costs. For full details about TelstraSuper’s fees and costs, refer to the product disclosure statement (PDS) for the relevant investment option and the Additional Information About Your Super Guide.
|Type of fee||Amount||How and when paid|
|Investment fee (3)||
0.31% p.a. for Growth
0.28% p.a. for Balanced
0.19% p.a. for Diversified Income
0.23% p.a. for Defensive Growth
0.22% p.a. for Conservative
0.43% p.a. for International Shares
0.29% p.a. for Australian Shares
0.09% p.a. for Property
0.22% p.a. for Fixed Interest
0.08% p.a. for Cash
0.31% p.a. for MySuper Growth
0.28% p.a. for MySuper Balanced
0.22% 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.
Refer to the Direct Access Product Guide for more information.
|Administration fee||$1.50 per week (all members)
$172 p.a. (if you're invested in the Direct Access investment option).
Deducted from your account at the end of each quarter or when you leave the fund.
In addition, indirect Administration fees of 0.20% pa are included in the indirect cost ratio below for each investment option.
See the Direct Access Product Guide for more information.
|Buy-sell spread||The buy cost or sell cost ranges from 0.00% to 0.30% depending on the investment option. Refer to the Additional Information About Your Super Guide for more details.||Deducted in the calculation of unit prices at the time of the transaction.|
|Nil||The cost of general and simple personal advice about your TelstraSuper account is included in the administration fee paid by all members.|
|Other fees and costs (1)|
|Indirect cost ratio (2)||
0.66% p.a. for Growth
0.62% p.a. for Balanced
0.39% p.a. for Diversified Income
0.48% p.a. for Defensive Growth
0.50% p.a. for Conservative
0.28% p.a. for International Shares
0.32% p.a. for Australian Shares
1.06% p.a. for Property
0.11% p.a. for Fixed Interest
0.01% p.a. for Cash
0.66% p.a. for MySuper Growth
0.62% p.a. for MySuper Balanced
0.50% p.a. for MySuper Conservative
Administration fee of: 0.20% p.a.
|Deducted in the calculation of unit prices daily.|
Estimated borrowing costs ranged between 0.00% -1.44% of the value of the options and reduced the value of the option over the last financial year. These costs were additional to the fees, indirect costs and other transactional and operational costs. Refer to the Additional Information About Your Super Guide for further detail.
1. Other fees and costs such as activity fees, advice fees for personal advice or insurance fees may apply. See the ‘Defined fees’ and ‘Additional explanation of fees and costs’ in the Additional Information About Your Super Guide.
2. The indirect cost ratios (ICRs) are indicative and are based on the ICR for each investment option for the year ended 30 June 2017. They include costs which are known or, if not known, are reasonably estimated, and which reduce either directly or indirectly the return of the investment option. The ICRs may vary from time to time. The actual amount that you will incur in subsequent financial years will depend on the actual ICRs incurred by the Trustee in managing the investment option. Refer to the 'Additional explanation of fees and costs' section of the Additional Information About Your Super Guide for further information about indirect costs. If you are invested in the MySuper arrangement and/or have more than one other investment option, the fee deducted from gross investment earnings will be apportioned.
3. The investment fees 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. The investment fees are based on the investment fees for the year ended 30 June 2017. The actual amount you will be charged in subsequent financial years will depend on the actual investment fees incurred for the relevant period.
The $1.50 per week administration fee is deducted from your account at the end of each quarter or earlier if you leave TelstraSuper. The 0.20% pa indirect administration fee is deducted daily as part of the unit price calculation. For this reason, it is an indirect cost which forms part of the indirect cost ratio. Sensis Super Plus members who transferred from PASF in July 2001 - your administration fee is paid for by your employer.
If you have an account balance of over $1.328m, 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 $1.289m, you may claim an administration fee rebate.† 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 working days in arrears following the last day of the month.
Any contributions/transfers received 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 $1.328m 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 is no longer met.
† Rebate will be calculated on the amount of the account balance(s) at the end of each month. The rebate will be split proportionately between eligible spouses’ accounts, according to the balance of each account.
To cover the cost of investing your retirement savings, TelstraSuper charges a competitive investment fee, which varies depending on your investment choice, as summarised in the table below.
The investment fee includes the base management fee paid to external investment managers and applicable performance fees that may be payable by the Trustee. The investment fee also includes fees paid directly by the Trustee to its custodian. Any income retained by the custodian as part of the securities lending agreement it has with the Trustee is also included in the investment fee.
The investment fee isn’t deducted from your account; instead it is taken into account when calculating unit prices.
Estimated investment fees and indirect cost ratios for year ended 30 June 2017
|Estimated base investment fee*||+ Estimated investment performance fee*||+Base indirect cost ratio*||+ Estimated indirect cost ratio performance fee*
||= Total estimated investment fees and costs*|
* The fees and costs set out in the above table are indicative and are based on these fees and costs for each investment option for the year ended 30 June 2017. They include fees and costs which are known or, if not known, are reasonably estimated. They may vary from time to time. The actual amount you will pay in future financial years will depend on the actual fees and costs incurred by the Trustee in managing the investment option.
|Type of fee or cost||Amount||How and when paid|
|Buy-sell spread: the cost of conducting member-initiated transactions.||Between 0.00% and 0.30%||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.
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. With TelstraSuper, the total cost of managing your investment is generally low compared to the fees and costs that usually apply to managing such investments outside of super.