The following table shows the fees and other costs you may be charged for investing in any of Good Super’s investment options. The fees and costs may be deducted from your account or from investment returns regardless if there are positive investment returns on the funds. Please note that fees may vary between members. More detailed information about the Good Super Plan can be found in the Product Disclosure Statement and Reference Guide.
|All Good Super investment options
|Type of fee*
||How and when paid
||Deducted from the assets of the Fund before unit prices are calculated
||$1.50 per week
|The weekly administration fee component is deducted monthly from your account balance. The other administration fee component is deducted from the assets of the Fund before unit prices are calculated.
||0.15% / 0.15%
Deducted on a transactional basis every time units in an investment option are bought and sold.
||Deducted from your account on making a partial or full benefit payment from your superannuation account or partial or full roll over to an external superannuation account.
You may also incur a buy-sell spread cost when your money moves in or out of the Fund or when you switch between different investment options. If you leave the Fund, you will also be charged an exit fee of $50.00. See the Reference Guide for more information about the buy-sell spread, adviser and other service fees.
Insurance Premiums may also apply. Click here to learn more.
A fee is an activity fee if:
- the fee relates to costs incurred by the Trustee that are directly related to an activity of the Trustee
- that is engaged in at the request, or with the consent, of a member; or
- that relates to a member and is required by law; and
- 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.
An administration fee is a fee that relates to the administration or operation of the Fund and includes costs that relate to that administration or operation, other than:
borrowing costs; and
indirect costs that are not paid out of the Fund that the Trustee
has elected in writing will be treated as indirect costs and not fees, incurred by the Trustee
or in an interposed vehicle or derivative financial product; and
(c) costs that are otherwise charged as an investment fee, a buy-sell spread, a switch fee, an exit fee, an activity fee, an advice fee or an insurance fee.
A fee is an advice fee if:
- the fee relates directly to costs incurred by the Trustee because of the provision of financial product advice to a member by the Trustee or another person acting as an employee of, or under an arrangement with, the Trustee; and
- 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.
A buy-sell spread is a fee to recover transaction costs incurred by the Trustee in relation to the sale and purchase of assets of the Fund.
An exit fee is a fee to recover the costs of disposing of all or part of members’ interests in the Fund.
Indirect Cost Ratio
The Indirect Cost Ratio (ICR) for an investment option offered by the Fund is the ratio of the total of the indirect costs for the investment option, to the total average net assets of the superannuation entity attributed to the investment option.
Note: a fee deducted from a member’s account or paid out of the superannuation entity is not an indirect cost.
A fee is an insurance fee if:
- the fee relates directly to either or both of the following:
- insurance premium paid by the Trustee in relation to a member or members of the Fund; costs incurred by the Trustee in relation to the provision of insurance for a member; or
- (ii) members of the Fund; and
- 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 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.
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 that relate to the investment of assets of the entity, other than:
(i) borrowing costs; and
(ii) indirect costs that are not paid out of the Fund that the Trustee has elected in writing will be treated as indirect costs and not fees incurred by the Trustee or in an interposed vehicle or derivative financial product; and
(iii) costs that are otherwise changed as an administration fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.
A switching fee is a fee to recover the costs of switching all or part of a member’s interest in the Fund from one investment option or product in the Fund to another.
Changes to Fees and Costs
Under the Plan’s trust deed, the Trustee is permitted to charge a range of fees and can change the amount of existing fees without members’ consent. At least 30 days prior notice will be given to members before any management costs increase or the introduction of any new fee or cost takes effect.
To Find Out More
If you would like to find out more or see the impact of fees based on individual circumstances, the Australian Securities and Investments Commission website (www.moneysmart.gov.au) has a superannuation fee calculator to help you check out different fee options.
For information about our Trust Deed, Annual Reports, Significant Event Notices, key outsourced relationships and more, please click here.
Our Product Disclosure Statement and Reference Guide are available online by clicking here.