Fees and costs
|Type of fee||Amount||How and when paid|
Nil (for all investment options other than Direct Access)
0.20% p.a.* subject to a maximum of $3,000 p.a. (for the Direct Access investment option).
Investment fees are included in the indirect cost ratio below for the MySuper arrangement and each investment option.*Annual investment fees relating to the balance invested in the Direct Access option. Refer to the Direct Access Product Guide for more information.
|Administration fee||$1.50 per week (all members)
$172† p.a. (if you are 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 are included in the Indirect cost ratio below for each investment option.† Annual administration fee for members invested in Direct Access. Refer to 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.|
Advice feesRelating to all members investing in a particular MySuper product or investment option
|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||Investment fee (2) of:
0.72% p.a. for Growth
0.70% p.a. for Balanced
0.33% p.a. for Diversified Income
0.43% p.a. for Defensive Growth
0.44% p.a. for Conservative
0.72% p.a. for International Shares
0.49% p.a. for Australian Shares
0.52% p.a. for Property
0.31% p.a. for Fixed Interest
0.12% p.a. for Cash
0.72% p.a. for MySuper Growth
0.70% p.a. for MySuper Balanced
0.44% p.a. for MySuper Conservative
administration fee of 0.20% p.a.
1. Other fees and costs such as activity fees, advice fees for personal advice or insurance fees may apply. Refer to the Additional Information About Your Super Guide for more information.
2. The indirect investment fee is an estimate based on the current internal and external costs of managing investments in each of the investment options based on recent asset allocations, including costs charged by external investment managers used, performance fees and custodial costs. The exact cost of managing your investment will vary from time to time. 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.
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.
Indirect investment fees
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 total investment fee (including any performance fee which is additional to the base investment fee) is not deducted from your account, instead it is taken into account when calculating unit prices. For this reason, it is an indirect cost which forms part of the indirect cost ratio.
Estimated 2015/2016 investment fees
|Base investment fee||+ Performance fee
||= Estimated investment fee|
*The Diversified Income option commenced on 1 July 2012.
|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 lower than an individual member could negotiate.
When comparing the fees of your TelstraSuper account with those of other investment products, it is important to consider all the costs involved. With TelstraSuper, the total cost of managing your investment is generally low compared to the fees that usually apply to managing such investments outside of super.