Fees & costs

Fees & costs

What it costs to be a CareSuper member

While we work hard to keep our costs low to maximise your super balance, we’re driven by strong results – not by being the cheapest. Because when it comes to your super, it’s the overall benefit to you that counts.

For full details of our fees and costs, see What it costs to be a CareSuper member and read your product disclosure statement.

 

How to calculate fees and costs  

The total fees and costs applied to your super account include administration fees, investment fees and an indirect cost ratio.^

Here’s an example of how to estimate your fees for one year if you had $50,000 in Balanced (MySuper).

Add the percentage-based admin fee, investment fee plus indirect cost ratio and multiply it by your balance. Then add the dollar-based admin fee.

[(0.19% + 0.21% + 0.61%) x $50,000] + $78 = $583. 

Fees that work for you
Profit-for-members
Our profits go to our members, not to shareholders. The decisions we make have our members’ interests front of mind.
Competitive long-term returns
Active investing
We balance competitive fees with smart, active investing to return a bigger net benefit to you.
Pension Online
Competitive and transparent on fees
No switching fees or joining fees.
Super account fees
Admin fee
$78 per year plus 0.19% of your account balance per year (up to an annual cap of $500).

Reason for fee

The admin fee covers CareSuper’s operating costs and the general cost of managing your super account. We outline where this money was spent last financial year in our governance structure.

You pay these fees monthly or on withdrawal

Fees are calculated and deducted directly from your super account.

Investment fees and indirect cost ratio
The fee amounts depend on the investment option (or options) you’re invested in.

Reason for fees

These fees represent the internal fees and external costs (including custodial, asset consulting and investment manager fees) of professionally managing the investments in your super account. Our size and scale enables us to keep these fees competitive.

We actively manage your investments to take advantage when markets rise and to protect your capital during volatility. See our investment philosophy to learn more.

Fees are calculated annually as a percentage of the money investing in each option.

These fees are not deducted from your super account but taken out from investment returns and reflected in the daily unit prices for each option.

Buy-sell spread

Applies when money goes into your account (e.g. employer and member contributions), when money comes out of your account (e.g. rollovers to another fund), and when you switch in and out of an investment option. Buy sell spreads are not deducted directly from your account but are factored into the unit prices of each investment option, and are subject to change. Details are outlined below.

The amounts shown are estimates only based on investment costs for the 2018/19 financial year.

Investment option

Investment fee

Indirect cost ratio

Total fee

Capital Guaranteed

0.03%

0.26%

0.29%

Capital Stable

0.14%

0.29%

0.43%

Conservative Balanced

0.18%

0.30%

0.48%

Balanced

0.21%

0.61%

0.82%

Sustainable Balanced

0.17%

0.60%

0.77%

Alternative Growth

0.20%

0.52%

0.72%

Growth

0.24%

0.58%

0.82%

Cash

0.06%

Nil

0.06%

Fixed Interest

0.07%

0.17%

0.24%

Direct Property

0.03%

0.94%

0.97%

Australian Shares

0.39%

0.11%

0.50%

Overseas Shares

0.30%

0.21%

0.51%

Buy–sell spreads         

The buy–sell spreads for each of our Managed and Asset class options are set out below.

Investment option

Buy

Sell

Capital Guaranteed

Nil

Nil

Capital Stable

0.03%

0.03%

Conservative Balanced

0.04%

0.04%

Balanced

0.05%

0.05%

Sustainable Balanced

0.05%

0.05%

Alternative growth

0.08%

0.08%

Growth

0.06%

0.06%

Cash

Nil

Nil

Fixed Interest

Nil

Nil

Direct Property

0.45%

0.45%

Australian Shares

0.06%

0.06%

Overseas Shares

0.07%

0.07%

Pension account fees
Admin fee
$78 per year plus 0.19% of your account balance per year (up to an annual cap of $750).

Reason for fee

Covers CareSuper’s operating costs and the general cost of managing your pension account. We outline where this money was spent last financial year in our governance structure.

You pay these fees monthly or on withdrawal

Fees are calculated and deducted directly from your pension account.

Investment fees and indirect cost ratio
The cost of these fees depend on the Investment option (or options) you’re invested in.

Reason for fees

These fees represent the internal and external costs of professionally managing the investments in your pension account. Our size and scale enables us to keep these fees competitive.

We actively manage your investments to take advantage when markets rise and to protect your capital during volatility. See our investment philosophy to learn more.

Fees are calculated annually as a percentage of the money in each option.

These fees are not deducted from your account but taken out of the investment returns and reflected in the daily unit prices for each option.

Buy-sell spread

Apply when you transact in an investment option (e.g. by switching investment options or making a withdrawal from your pension account) to determine the buy and sell price for the option (or options) you’re transacting in. These are not deducted directly from your account but are factored into the unit prices of each investment option and are subject to change. Details are outlined below.

The amounts shown are estimates only based on investment costs for the 2018/19 financial year.

Investment option

Investment fee

Indirect cost ratio

Total fee

Capital Guaranteed (Pension)

0.03%

0.27%

0.30%

Capital Stable (Pension)

0.14%

0.30%

0.44%

Conservative Balanced (Pension)

0.18%

0.32%

0.50%

Balanced (Pension)

0.20%

0.61%

0.81%

Sustainable Balanced (Pension)

0.17%

0.61%

0.78%

Alternative Growth (Pension)

0.20%

0.48%

0.68%

Growth  (Pension)

0.25%

0.56%

0.81%

Cash  (Pension)

0.06%

Nil

0.06%

Fixed Interest  (Pension)

0.07%

0.17%

0.24%

Direct Property  (Pension)

0.03%

0.89%

0.92%

Australian Shares  (Pension)

0.39%

0.08%

0.47%

Overseas Shares  (Pension)

0.30%

0.19%

0.49%


Buy–sell spreads

Investment option

Buy

Sell

Capital Guaranteed

Nil

Nil

Capital Stable

0.03%

0.03%

Conservative Balanced

0.04%

0.04%

Balanced

0.05%

0.05%

Sustainable Balanced

0.05%

0.05%

Alternative growth

0.08%

0.08%

Growth

0.06%

0.06%

Cash

Nil

Nil

Fixed Interest

Nil

Nil

Direct Property

0.45%

0.45%

Australian Shares

0.06%

0.06%

Overseas Shares

0.07%

0.07%

Other fees
Direct Investment option (DIO)

Admin fee

$10 per month.

Activity fee

Activity fees may apply if you’re invested in the DIO. These could include the following types of fees.

Brokerage fee

Brokerage will either be added to the cost of your trade when you buy, or deducted from the sale proceeds when you sell, based on the trade amount.

Brokerage fee (including GST)

Trade amount

Brokerage fee (including GST)

$0 - $20,000

$22.00

$20,001 - $10,000,000

0.11%


Other potential DIO fees

Other fees may apply to your account, for example if you break a term deposit before maturity or request a tax calculation. Specific fees may also apply if you choose to invest in exchange-traded funds (ETFs) or listed investment companies (LICs). Learn more in Fees and other costs or your product disclosure statement.

Insurance fees

Fees (or ‘premiums’) to cover any insurance cover you have with us as a super member. These fees are deducted from your account each month. See more about our insurance offering here or refer to your Insurance Guide.

Advice fees

You can get financial advice2 about super-related topics over the phone or through MemberOnline as part of your membership at no extra cost.

If you’re after a comprehensive financial plan, you can book a call-back with one of our financial planners. The initial obligation-free consultation is at no extra cost and if you decide to go ahead with comprehensive advice, your planner will let you know what other fees apply.

If you require more complex advice, our planners may refer you to an external advice service provided by Australian Unity Personal Financial Services Limited.3

Guaranteed Income product fees

Lifetime account admin fee

0.15% p.a. of initial investment amount.
This fee is included in the calculation of your income payments (not deducted directly from your account or from your regular payments).

Fixed term account admin fee

Accounts with a residual capital value 100% (RCV100)
- 0.20% p.a. of your initial investment amount

Accounts with a residual capital value between 0% and 99% (RCV0-99)
- 0.20% p.a. of your reducing initial investment amount4

This fee is included in the calculation of your regular payments (not deducted directly from your account or from your regular payments).

See the Guaranteed Income PDS for more details.

* If your account balance is less than $6,000 at the end of the financial year or when you leave CareSuper, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. The total of these fees cannot exceed 3% of your account balance and the excess will be refunded to you.

^. Additional fees, such as advice fees for personal advice, or insurance fees, may apply. Percentages are of your account balance.

1. The percentage-based administration fee is an estimate only based on administration costs for the 2020/2021 financial year.

2. Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766. Comprehensive advice is provided by one of our financial planners who are Authorised Representatives of Industry Funds Services Limited (IFS). IFS is responsible for any advice given to you by its Authorised Representatives. Industry Fund Services Limited ABN 54 007 016 195 AFSL 232514.

3. Complex personal financial advice is provided by Australian Unity Personal Financial Services Limited (ABN 26 098 725 145, AFSL 234459). If you choose to take up complex advice services, you may be charged fees by Australian Unity. Australian Unity will discuss any applicable fees directly with you prior to them being charged. CareSuper receives no financial incentives or commissions regarding this referral service.

4. The initial investment is reduced after each regular income payment by an amount calculated as: initial investment minus any residual capital value, divided by the total number of income payments in the investment term.