A small percentage can make a huge difference in the long term when it comes to costs and fees.

Super is a long-term product, so it’s a good idea to compare us with the market and make sure you’re getting the best value for money.

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.

4 things to consider with fees and costs

  1. Look at the total cost

    Super funds can calculate their fees in different ways, so make sure that you’re comparing apples with apples, and look at the total cost. Every MySuper fund will have a product dashboard available on their website that helps you to compare costs.

    View product dashboard
  2. It’s about more than just fees

    Investment returns are also a big factor in growing your superannuation savings, although a fund that has performed well in the past won't necessarily perform well in the future. Also consider the level of service and features like simple advice that can help you to manage your super effectively. An independent comparison service can help you to compare different super funds.

    Compare funds
  3. Are you paying fees for multiple accounts?

    If you have multiple accounts then you’re paying for multiple sets of fees. Consider if it’s in your best interests to combine your accounts into one and save on fees.

    Combine your super
  4. Think about your insurance needs

    Insurance is often provided automatically with your super unless you opt out. Assess what cover you need, then check what your level of cover is and how much it costs, as premiums and levels of cover available will differ.

    Calculate costs and cover

Estimated investment-related fees & costs

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. As a guide, the table below shows estimates of these fees and costs for our investment options.

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.

See how costs impact your balance

Compare fees and costs

Calculate the effects
Investment option

Estimated investment fees (excluding performance-related fees)^2

Estimated performance-related fees ^3

Estimated indirect cost ratio^4

Estimated annual total investment fees for a balance of $50,000^5

High Growth

0.46%

0.03%

0.10%

$295

Growth^1

(previously Diversified)

0.42%

0.03%

0.09%

$270

Diversified Socially Responsible Investment

0.51%

0.04%

0.12%

$335

Balanced Growth^1

(Previously Balanced)

0.39%

0.03%

0.08%

$250

Conservative Growth (previously Capital Guarded)

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

Your 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 only activity fees that the fund currently charges 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 0.15% per year.

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 a MySuper product or an investment option is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the option for the relevant period.

Fees deducted directly from a member’s account are 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.

A fee is an insurance fee if:

(a) the fee relates directly to either or both of the following:

(i) insurance premiums paid by the trustee of a superannuation entity in relation to a member or members of the entity; 
(ii) costs incurred by the trustee of a superannuation entity in relation to the provision of insurance for a member or members of the entity; and 

(b) the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk; and 

(c) the premiums and costs to which the fee relates are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an advice fee.

Our insurance costs
I want to calculate my insurance costs

An investment fee is a fee that relates to the investment of the assets of the fund 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.

switching fee for a MySuper product is a fee to recover the costs of switching all or part of a member’s interest in a superannuation entity from one class of beneficial interest in the entity to another and, for superannuation products other than a MySuper product, 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.

  1. The fees shown are the same for MySuper and Choice members.

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

  3. 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.

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

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