It's important to compare fees
When shopping around for a pension product, many people compare investment returns, but it's just as important to compare fees and charges. The table below outlines the fees relating to the CareSuper Pension.
| Type of fee or cost |
Amount and frequency |
| Fees when members’ money moves into or out of the fund |
Establishment fees
The fee to open your account. |
$0 |
Contribution fees
The fee on the amount contributed to your pension account. |
$0 |
Withdrawal fee
This is the fee charged each time you withdraw an amount from your pension account. |
Pension payments – $0
Lump sum withdrawals – $0 |
Termination fee
The fee to close the account |
$0 |
| Management costs |
| Fees deducted from your account |
| Administration fee* |
First $100,000 invested = 0.6%
Remaining balance invested = 0.2%
A minimum annual fee of $600 will apply.
The maximum fee of $1200 applies at $400,000 invested |
ICR or investment fee
The cost of investment for each option. Indirect cost ratio (ICR) or investment fees are the annual percentage fees for managing investments. The fees can differ from year to year as some of the investment managers are paid partly on a performance fee basis. The figures shown are based on calculations for the 2008/09 financial year. (ICR’s are updated annually.)
| Investment fee |
Base fee
|
Performance fee
|
| Capital Guaranteed |
1.44%
|
0.04%
|
| Capital Stable |
0.53%
|
0.17%
|
| Conservative Balanced |
0.58%
|
0.22%
|
| Balanced |
0.74%
|
0.31%
|
| Sustainable Balanced |
0.91%
|
0.11%
|
| Alternative Growth |
1.09%
|
0.36%
|
| Growth |
0.85%
|
0.44%
|
Capital Secure*
|
0.15%
|
0.00%
|
| Fixed Interest |
0.41%
|
0.00%
|
| Direct Property |
0.58%
|
0.00%
|
| Australian Shares |
0.41%
|
0.13%
|
| Overseas Shares |
0.73%
|
0.68%
|
* Formerly known as Cash
