Types of super fees
The various super fees you encounter are listed below; however not all funds charge all the fees listed below.
The type and amount of super fees you could encounter are varied; i.e. some common fees are listed below however, not all funds charge all the fees listed below.
- Establishment fee: This is the fee charged for setting up your account.
- Contribution fee: Every time you invest in your fund you make a contribution to the fund and may be charged a contribution fee.
- Withdrawal fee: Every time you withdraw from your fund you may be charged a fee.
- Termination fee: If you wish to leave one fund to join another, exit fees are sometimes charged.
- Switching fee: When you ‘switch’ your investment options in your super fund this can incur a fee.
- Adviser service fee: Your adviser may also charge a fee for any advice relating to your super fund.
- Management fee: Your fund may charge a fee for the administrative activity involved in managing your super account. This fee can be broken down as follows:
- Administration fee – general administration.
- Investment management fee – this will be dependant on the investment options.
- Issuer fee – fee for the product issuer’s services
- .Expense recovery – the trustee is entitled to recover out-of-pocket expenses from the fund.
- Member fee – for member account keeping by the fund.
Other costs
Other possible costs include:
- Transaction costs - for buying (contributing), selling (withdrawing) or switching (buying and selling) investments.
- Maintenance costs of direct investment and real property.
- Insurance premiums.
Fees on BT super products
The following table outlines some of the fees currently charged on some BT Super products (current as at 29 September 2009). For more information on the fees you’re paying, please refer to your PDS, and your annual statement.
| BT Super for Life | Lifetime Super Employer Plan | BT Business Super | BT Lifetime Personal Super | BT Lifetime Flexible Pension | |
| Investment Management fee | Yes. 0.99% p.a.on investments, zero on cash option | No | No | Yes. 1.15% to 2.54% p.a. depending on the investment option chosen | Yes. 1.62% to 2.56% p.a. depending on the investment option chosen |
| Administration fee | Yes - $5 per month | Yes – Discounts may apply for certain employers | Yes – Discounts may apply for certain employers | No | No |
| Withdrawal fee | No | No | No | No* | No* |
| Termination fee | No | No | No | No | No |
| Switching fee | No | No | No | No | No |
| Adviser Commission | No | Yes based on employer plan size | Yes based on employer size | No** | No** |
| Issuer Fee | No | Yes – Based on what Fund manager charges. Discounts may apply for certain employers | Yes – Based on what Fund manager charges. Discounts may apply for certain employers | Yes – included in the investment management fee | Yes – included in the investment management fee |
| Member Fee | No | $6.15 p/m Discounts may apply for certain employers | $4.60 p/m Discounts may apply for certain employers | No | No |
| Spreads | Yes. Based on costs of buying and selling units | Yes. Based on costs of buying and selling units | Yes. Based on costs of buying and selling units | Yes. Based on costs of buying and selling units | Yes. Based on costs of buying and selling units |
| Personal Advice fee | No | Up to $5,000 agreed between member and adviser | No | No | No |
| Insurance Admin fee | No | No | No | Yes $4.70 per month | No |
Current as at 29 September 2009
* A withdrawal fee is paid when investment Options with no contribution fee is withdrawn within four years. These investment options are no longer available to new members.
**Advisers are paid commission from other fees. There are no additional charges.
Learn more about Fees
- What types of fees can I expect?
- Where can I find the fees charged by my current super fund?
- How can fees make a difference to my super?
- How do I compare fees?
BT Funds Management Limited ABN 63 002 916 458 is the responsible entity of BT Lifetime - Personal Super Fund ABN 83 953 436 008 [the Fund] and is the issuer of units in the Fund. A Product Disclosure Statement (PDS) is available for the Fund and can be obtained by calling 132 135. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of units in the Fund.
BT Funds Management Limited (BTFM) ABN 63 002 916 458, AFSL No. 233724, RSE No. L0001090 (BTFM) is the Trustee of BT Super for Life ABN 53 398 474 034, RSE No. R1071221 and is the issuer of interests in BT Super for Life. A Product Disclosure Statement (PDS) for BT Super for Life and BTFM’s Financial Services Guide (FSG) can be obtained by calling 1300 653 553. You should obtain and consider the PDS and FSG before deciding whether to acquire, continue to hold or dispose of interests in BT Super for Life.
BT Funds Management Limited ABN 63 002 916 458 is the trustee of the BT Lifetime Super Fund ABN 83 953 436 008 and is the issuer of units in the Plan. A Product Disclosure Statement (PDS) is available at the Disclosure Documents page or can be obtained by calling 132 135. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of units in the Plan.
BT Funds Management Limited ABN 63 002 916 458 is the trustee of BT Lifetime Super – Employer Plan ABN 65 890 046 105 and is the issuer of interest in the fund. A Product Disclosure Statement is available for the fund and can be obtained by calling 132 135. You should obtain the PDS before deciding whether to acquire, continue to hold or dispose of interests in the fund.
Westpac Securities Administration Limited ABN 77 000 049 472 is the trustee of BT Business Super ABN 81 236 903 448 and is the issuer of interest in the fund. A Product Disclosure Statement is available for the fund and can be obtained by calling 132 135. You should obtain the PDS before deciding whether to acquire, continue to hold or dispose of interests in the fund.
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