We’ll deduct some money from your account to cover the cost of looking after and investing your super. 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
How and when paid
|Investment fee1||Aggressive 0.39%, Growth 0.37%, Balanced 0.32%, Stable 0.29%, Australian Shares 0.22%, International Shares 0.33%, Property 0.07%, Bonds 0.18%, Cash 0.10%, Term Deposit 0.00%||We generally calculate and deduct this fee daily when unit prices are determined.|
|Administration fee||$2 per week ($104 pa) + 0.16%. Percentage fee is zero for Term Deposit.||We generally deduct the dollar based administration fee on the last day of the month from your super account balance. We generally calculate and deduct the percentage based administration fee when unit prices are determined.|
|Advice fees||We offer a complimentary appointment with a financial adviser for all members and personal advice fees are up to a maximum of $2,750.||You pay or, for the portion of the advice that is super related, you can choose to have it deducted from your super account.|
|Other fees and costs3||Nil|
|Indirect cost ratio1|
Aggressive 0.43%, Growth 0.48%, Balanced 0.51%, Stable 0.47%, Australian Shares 0.00%, International Shares 0.00%, Property 0.05%, Bonds 0.11%, Cash 0.01%, 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.
Your super is taxed when you put money in, on your investment earnings and in some cases, when you take it out if you’re under age 60.
Before tax contributions, which include the compulsory 9.5% contributions your employer makes for you, are taxed at 15% if you earn less than $250,000 and 30% if you earn over $250,000. If you earn $37,000 or less pa you may be eligible for a low income superannuation tax offset.
Any after tax contributions you make aren’t taxed when you put them into super as you have already paid tax on that money.
Investment earnings within your super are taxed up to a maximum of 15%.
Tax law requires us to deduct tax before paying your super to you. Your super is divided into a tax free component, which mainly consists of any after-tax contributions you’ve made, and a taxable component, which is the rest of your account. Your super fund calculates these components when you make the withdrawal. You can't choose to simply withdraw the tax-free component on its own.
The table below shows what tax applies depending on your age and tax components. You won’t have to pay any tax if you’re accessing your super within 24 months of being certified as suffering from a terminal illness.
What tax you pay on withdrawing your super
|Your age||Taxable component||Tax-free component|
|Age 60+||0%. You don’t need to include this in your tax return.||0%|
|Preservation age to age 59||0% up to a maximum lifetime low rate cap of $205,000 for 2018-19. Withdrawals above this threshold are taxed at your marginal tax rate or 17%, whichever is lower, which includes the Medicare Levy. This money is treated as assessable income and therefore could affect your HELP debt payments and Medicare Levy surcharge.||0%, including any benefit withdrawn due to terminal illness.|
|Under preservation age||Taxed at your marginal tax rate or 22%, whichever is lower, which includes the Medicare Levy. This money is treated as assessable income and therefore could affect your HELP debt payments and Medicare Levy surcharge.||0%, including any benefit withdrawn due to terminal illness.|
|If you die*||0% if paid to a tax dependant of any age. *Complex rules apply to death benefit payments to non-tax dependants. A death benefit can be paid as a lump sum or, for some types of dependants, as a death benefit income stream.||0%|
*Under super law, children are considered dependants and can receive a death benefit. However, tax law doesn’t treat adult children as dependants unless certain criteria are met. For more information about this criteria, you can call the Australian Taxation Office infoline on 13 10 20.