Deducted from investment returns before unit prices are determined and directly applied to your account.
$1.60 per week2 plus 0.15% p.a. of your account balance up to a total administration fee of $533.20 p.a.
Deducted monthly from your account or proportionally on joining the Fund or on withdrawal of your investment from the Fund.3
The Fund pays its administration costs from an administration reserve. For the 12 months to 30 June 2017 the Fund’s estimated costs were $2.88 per member per week (gross of tax).4
The Fund claims a tax deduction for administration costs each year. The amount of the deduction is also paid into the administration reserve.
My AutoSuper (Balanced)
Diversified Fixed Interest
Applied to daily unit prices to cover the cost of buying and selling units5.
Applies to both full and partial transfers or rollovers (not cash withdrawals).6 The fee is deducted from the member’s account balance
Indirect cost ratios
Other fees and costs
See ‘Additional explanation of fees and costs’ section below.
1. The investment fees are calculated looking back at 30 June each year and are therefore estimates. The actual investment fees for the current financial year may vary with large investment acquisitions, divestments and/or changes in portfolio managers. Investment fees are disclosed gross of income tax. Any benefit of an income tax deduction relating to these fees will be applied to members as part of the unit price for that option.
2. The flat rate component of the administration fee ($1.60 per week) is calculated each Friday and deducted on the last Friday of each month. In a financial year where there are 53 Fridays, this results in a deduction of $84.80 and a total administration fee up to $534.80 for any member who is in the Fund for the full year.
3. 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.
4. The actual administration costs will vary from year to year. Past costs are not a reliable indicator of future costs.
5. Buy-sell spreads are applied when transactions are processed to your account through the purchase or sale of units.
6. 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)).
7. 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 IFS adviser is at no additional cost to you. An advice fee will be discussed and agreed with you before any advice is provided.
Additional fees and costs apply. See 'Additional explanation of fees and costs' section for more information.
Additional explanation of fees and costs
MTAA Super pays performance-related fees to some investment managers when the relevant manager produces investment returns that exceed agreed targets. Any performance-related 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.
1 The Income-Focussed option was launched on 1 November 2014.
Performance-related 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 and costs 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 2017 and are gross of income tax. The figures set out in the table are the current figures at the date of the MTAA Super Member PDS. 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
How and when paid
Fee to request information
Payable by the person making the request at the time of the request
Fee to facilitate payment split
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 paid to the spouse, the entire payment split fee will be deducted from the amount to be transferred.
Eligible MTAA Super members are automatically provided with default cover when they join the Fund (subject to terms and conditions). Insurance fees are deducted from members’ account monthly. For details of insurance fees, refer to the Insurance Guide.