We keep our fees low so you have more for retirement.
Did you know small differences in fund performance and fees and costs can have a substantial impact on your long-term returns?
Fees and costs
| Type of fee | Amount | How and when paid |
| Investment fee | Nil | N/A |
| Administration fee | $1.60 per week plus 0.15% p.a. of your account balance up to a total administration fee of $533 per annum. | Deducted monthly from your account or proportionally on withdrawal of your investment from the fund1. |
| Buy-sell spread |
Conservative Income-Focussed My AutoSuper (Balanced) Growth Cash Diversified Fixed Interest Australian Shares International Shares |
Applied to daily unit prices to cover the cost of buying and selling units2 |
| Switching fee | Nil | N/A |
| Exit fee | $96 | Applies to both full and partial transfers or rollovers (not cash withdrawals3). The fee is deducted from the member’s account balance. |
| Advice fees4 | Nil | N/A |
| Indirect cost ratios5 (includes the investment costs) |
Conservative – 0.39% p.a. Income-Focussed – 0.54% p.a. Balanced – Growth – Cash – Diversified Fixed Interest – Australian Shares – 0.75% p.a. International Shares – 0.55% p.a. |
Deducted from investment returns before unit prices are determined and directly applied to your account. |
| Other fees and costs | See Additional explanation of fees and costs section below. | |
1 When you join or you withdraw your investment from the Fund part way through a month, you will only be charged for the days you were a member in that month. For example, if you were a member for 10 days you would be charged (the total administration fee) x 10/number of days in the month.
2 Buy-sell spreads are applied when transactions are processed to your account through the purchase or sale of units.
3 An exit fee is not charged for benefit payments where a condition of release has been met (for example, retirement, financial hardship, compassionate grounds, death, permanent incapacity or Departing Australia Super Payment (DASP)).
4 MTAA Super does not charge any advice fees. You will only be charged an advice fee if you agree to receive financial advice from Industry Fund Services (IFS). The initial consultation with an adviser is at no additional cost to you. An advice fee will be discussed and agreed with you before any advice is provided.
5 indirect cost ratios are calculated at 30 June each year based on the previous 12 months. These may change from year to year. The indirect cost ratios for each investment option are different. Shown here are estimates based on the Fund financial statements for year ended 30 June 2016 and are disclosed gross of income tax. Any benefit of an income tax deduction relating to these costs will be applied to members as part of the unit pricing process for that option. For more information, call MTAA Super on 1300 362 415.
A financial year is from 1 July to 30 June.'
Additional fees and costs apply. See 'Additional explanation of fees and costs' section for more information.
Note: MTAA Super has notified the ASIC that it intends to take advantage of the extended transition period (to 30 September 2017) for compliance with updated fee and cost disclosure requirements in relation to product disclosure statements as set out in ASIC Class Order 14/1252.
Additional explanation of fees and other costs
Performance Fees
MTAA Super pays performance fees to some investment managers when the relevant manager produces investment returns that exceed agreed targets. Any performance fees are included in the estimated investment management costs as per the above table and deducted from MTAA Super's investment returns before unit prices are determined.
For more information, refer to the Pension Handbook.
Estimated performance fees per investment option
|
Investment Option |
2015/16 % |
2014/15 % |
2013/14 % |
|
Conservative |
0.04 |
0.02 |
0.02 |
|
Income-Focussed1 |
-0.02 |
0.00 |
N/A |
|
Balanced |
0.12 |
0.05 |
0.07 |
|
Growth |
0.16 |
0.06 |
0.10 |
|
Cash |
0.00 |
0.00 |
0.00 |
|
Diversified Fixed Interest |
0.00 |
0.00 |
0.00 |
|
Australian Shares |
0.44 |
0.03 |
0.01 |
|
International Shares |
0.10 |
0.18 |
0.28 |
1 The Income-Focussed option was launched on 1 November 2014.
Performance fees are estimated as at 30 June each year based on the previous 12 months and can change from year to year as demonstrated in the above table. The fees for each investment option shown here are estimates based on the Fund financial statements for the financial years ended 30 June 2014 to 30 June 2016 and are gross of income tax. The figures set out in the table are the current figures at the date of the Pensions Handbook. For more information, call us on 1300 362 415.
Family Law Fees
If your relationship breaks down, super can be treated as part of a family law property settlement.
There are two fees you may be charged as the result of a Family Law split – one for account information, and the other for splitting your super account.
|
Type of fee or cost |
Amount |
How and when paid |
|
Fee to request information |
$80 |
Payable by the person making the request at the time of the request |
|
Fee to facilitate payment split |
$80 |
Generally divided between both parties: half will be deducted from the member's MTAA Super account and half will be deducted from the amount allocated to the spouse. If 100% of the member's account balance is to be paid to the spouse, the full payment split fee will be deducted from the spouse |
If you have any questions or concerns relating to your super arising from a family law matter, refer to the Family Law and Superannuation Fact Sheet or call us on 1300 362 415.