Take control of your income in retirement. Learn more about the features and costs of our income streams and compare us with other pension funds.

Our income stream features

You can choose to be paid fortnightly, monthly, quarterly, half-yearly or yearly. If you meet a condition of release, you can withdraw one-off lump sums at any time. Be sure to check what your minimum and maximum withdrawal amounts are.

Payment drawdown options

If you invest in more than one option, you can ask us to draw your payments from your investment options in 3 ways: pro-rata, priority, or percentage (online only).

Estate planning options

You have three options available for nominating a beneficiary when you have an income stream with us. You can elect for a:

  • reversionary beneficiary
  • non-lapsing or lapsing binding death benefit nomination
  • non-binding death benefit nomination.
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Investment performance

A super fund’s investment returns are a vital part of how they deliver value to their members. Learn more about your investment options for an income stream and the returns.

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Fees & costs

Because we’re profit-for-member, we work to keep our fees as low as possible. Your fees go directly towards the costs of managing your investments, and providing great member services such as seminars and financial advice.

The amount of investment fees, performance-related fees and indirect cost ratios will change from year to year and can't be calculated precisely in advance. The table below shows estimates of these fees and costs for our investment options.

Investment option Estimated investment fees (excluding performance-related fees)^1 Estimated performance-related fees ^2 Estimated indirect cost ratio^3 Estimated annual total investment fees for a balance of $50,000^4
High Growth 0.46% 0.03% 0.10% $295
Growth 0.42% 0.03% 0.09% $270
Diversified Socially Responsible Investment 0.51% 0.04% 0.12% $335
Balanced Growth 0.39% 0.03% 0.08% $250
Conservative Growth 0.27% 0.02% 0.04% $165
Australian Equities 0.08% 0.00% 0.00% $40
Australian Equities Socially Responsible Investment 0.57% 0.00% 0.00% $285
International Equities 0.09% 0.00% 0.00% $45
Property 0.76% 0.09% 0.18% $515
Australian Fixed Interest 0.07% 0.00% 0.00% $35
International Fixed Interest 0.10% 0.00% 0.00% $50
Cash 0.07% 0.00% 0.00% $35

Estimated investment-related fees and costs are included in unit price calculations and are not deducted directly from your account. These amounts are paid to a variety of third parties such as investment managers, brokers, custodians and administrators as part of the cost of managing investments.

Other fees, such as administration fees, switching fees and exit fees, are deducted from your account balance. Additional details on the various types of fees and costs are provided below.

Fees explained

A fee is an activity fee if:

a) the fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee:

(i) that is engaged in at the request, or with the consent, of a member; or
(ii) that relates to a member and is required by law; and

b) those costs are not otherwise charged as an administration fee, an investment fee, a buy-sell spread, a switching fee, an exit fee, an advice fee or an insurance fee.

Our activity fees

The activity fees that we currently charge are set out in this table:

Type of fee or cost Amount How and when paid
Family law fees
Application for information – This fee is for providing information as required under the Family Law Act.
$110 Payable to the trustee by the person making the request for information at the time a request is made.
Splitting an account $88 The fee is shared equally between both parties and deducted from each party’s benefit at the time the benefit is split unless all of the benefit is going to the non-member spouse (in which case the non-member spouse pays the full fee).
No-TFN tax recovery fee $100 This fee will apply if we arrange a refund of the tax deducted from your account for failing to provide a TFN. The fee is deducted at the time of the refund being applied to your account.

An administration fee relates to the administration or operation of the superannuation entity and includes costs incurred by the trustee of the entity that:

(a) relate to the administration or operation of the entity; and
(b) are not otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.

Our administration fees

The administration fee is $52 per year ($4.33 per month) plus an asset-based administration fee of 0.40% per year ($200 per $50,000).

A fee is an advice fee if:

(a) the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:
    (i) a trustee of the entity; or
    (ii) another person acting as an employee of, or under an arrangement with, the trustee of the     entity; and

(b) those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an insurance fee.

Our advice fees

You will only be charged an advice fee if you agree to receive personal financial advice from one of our financial advisers. The fees will be discussed and agreed with you at that time.

A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity.

Our buy-sell spread

First State Super does not currently charge a buy-sell spread.

An exit fee is a fee to recover the costs of disposing of all or part of members‘ interests in the superannuation entity.

Our exit fees

An exit fee of $36 is charged each time a benefit is withdrawn, rolled over, paid to the ATO, or for spouse contribution splits if your spouse's account is with another fund.

The indirect cost ratio (ICR) for an investment option offered by a superannuation entity, is the ratio of the total of the indirect costs for the investment option, to the total average net assets of the option for the relevant period.

Note: A dollar-based fee deducted directly from a member‘s account is not included in the indirect cost ratio.

Our indirect cost ratios

View estimates of these costs to 30 June 2016 for each investment option in the table above.

An investment fee is a fee that relates to the investment of the assets of superannuation entity and includes:

(a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and

(b) costs incurred by the trustee that:

(i) relate to the investment of assets of the entity; and
(ii) are not otherwise charged as an administration fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.

Our investment fees

View estimates of these fees to 30 June 2017 for each investment option in the table above.

A switching fee is a fee to recover the costs of switching all or part of a member’s interest in the superannuation entity from one investment option or product in the entity to another.

Our switching fees

A $25 switching fee is charged for the second and subsequent switches in a financial year.

How do I get started?

If you want to set up an income stream with us, complete the application form at the back of the Member Booklet (PDS) Income Stream.

And don’t forget that you can contact us if you have any questions. Our advisers can talk you through the process and help you set up a tax-effective income stream suited to your personal situation.
 

I want to speak to an adviser

 

Independent comparison tool

Compare the key features of over 200 different funds on an ‘apples with apples’ basis through independent research company Chant West with their Applechecker tool.

  1. Investment fees are estimated for the 12 months to 30 June 2017.

  2. The trustee has negotiated performance fee arrangements with several of its investment managers. An underlying investment may also have performance-related fees. Performance-related fees are the sum of performance-related fees of the fund estimated for the 12 months to 30 June 2017 and the performance-related fees of underlying investments calculated for the 12 months to 30 June 2016.

  3. The indirect cost ratio is calculated for the 12 months to 30 June 2016.

  4. This is the combined total of the investment fee, performance-related fees and total indirect costs expressed as dollar amounts for each investment option.