Fees and taxes

Fees

We’ll deduct some money from your account to cover the cost of looking after and investing your money.

Because we’re a profits-to-member fund, our fees are set to cover our costs only. We don’t pay dividends to shareholders or commissions to financial advisers. This means we return more to you through lower fees and charges.

Type of fee
Amount
How and when paid
Investment fee1

Account based pension
Aggressive 0.36%, Growth 0.31%, Balanced 0.25%, Stable 0.22%, Capital Guarded 0.22%, Australian Shares 0.24%, International Shares 0.60%, Property 0.08%, Bonds 0.08%, Cash 0.10%, Term Deposit 0.00%

Pre retirement pension
Aggressive 0.39%, Growth 0.33%, Balanced 0.27%, Stable 0.23%, Australian Shares 0.24%, International Shares 0.61%, Property 0.08%, Bonds 0.08%, Cash 0.10%, Term Deposit 0.00%

We generally calculate and deduct this fee daily when unit prices are determined

Administration fee $180 pa

Deducted proportionally from your account monthly.

Buy-sell spread Nil
Switching fee Nil
Exit fee2 Nil
Advice fees See the Mine Wealth + Wellbeing Financial Advice - Our fees page for details
Other fees and costs3 Nil
Indirect cost ratio1

Account based pension
Aggressive 0.42%, Growth 0.47%, Balanced 0.52%, Stable 0.52%, Capital Guarded 0.52%, Australian Shares 0.00%, International Shares 0.00%, Property 0.17%, Bonds 0.31%, Cash 0.02%, Term Deposit Nil

Pre retirement pension
Aggressive 0.41%, Growth 0.45%, Balanced 0.51%, Stable 0.53%, Australian Shares 0.00%, International Shares 0.00%, Property 0.17%, Bonds 0.31%, Cash 0.02%, Term Deposit 0.00%

This is an estimate of the annual indirect cost ratio for each investment option. The actual costs are deducted from the return paid to the Fund when each unit price is determined.

1The investment fees and indirect costs shown are estimated by reference to investment related fees and costs, including underlying investment manager costs, incurred for the 12 month period to 30 June 2017. Accordingly, actual investment and indirect costs over the current period of the PDS will vary based on actual fees and costs incurred in that period.

2If you invest in the Term Deposit investment option, the financial institution that issues your term deposit might charge early exit or termination fees if you terminate your term deposit before the expiry of the fixed term. Details of these fees will be available at the time you make an investment and vary across financial institutions. These fees are not charged by the Mine Wealth and Wellbeing Superannuation Fund. The Term Deposit investment option isn't available in our pre retirement pension.

​3We may apply other fees and costs which relate to family law splits, answering subpoenas and advice fees for personal advice. See the Additional explanation of fees and costs for further details.

Tax

You may pay government tax on your pension withdrawals if you’re under age 60.

Our members say

[Mine Wealth + Wellbeing] has always performed well. Barry Wark - retired Mine Wealth + Wellbeing pension member.