Competitive fees mean more for your future
Competitive fees mean more for your future
When it comes to investing your super and retirement savings, the fees and costs you pay have an impact on your eventual account balance.
That’s why we work hard to keep our running costs as low as possible, so we can keep our fees low for our members.
And when we combine our competitive fees with solid, long-term investment returns, we’re making sure more money stays in your account for your future – right where you want it.
Your superannuation provides you with an income in retirement. So it’s important to choose a super fund that can grow and manage your money.
The fees and costs you pay for your Catholic Super account are made up of administration fees, investment fees and costs, and transaction costs.
While administration fees are applied for all members using the same calculation (up to an annual limit), investment fees and costs and transaction costs can vary according to the investment option you’re invested in.
| Administration fees | + | Investment fees and costs | + | Transaction costs | = | Total fees and costs |
|---|
Sometimes, other fees and costs might apply to your account – for example if you have insurance cover with your super account. The fees and costs are explained in full in the PDS for the Catholic Super product you’re invested in.
The following examples set out how your yearly fees and costs might look depending whether you’re invested in our super product or one of our retirement products.
Each example assumes an account balance of $50,000.
In this example, the member has an account balance of $50,000 invested in the MySuper investment option.
| Example – MySuper product | Balance of $50,000 | |
|---|---|---|
| Administration fees and costs | $1 per week plus 0.19% p.a. of your account balance | For every $50,000 you have in the superannuation product, you will be charged or have deducted from your account $95 in administration fees and costs, plus $52, regardless of your balance. |
| PLUS investment fees and costs | 0.51% | And, you will be charged or have deducted from your investment $255 each year in investment fees and costs. |
| PLUS transaction costs | 0.11% | And, you will be charged or have deducted from your investment $55 each year in transaction costs. |
| EQUALS costs of product | $457 | If your balance was $50,000 at the begining of the year, then for that year you will be charged fees and costs of $457 for the superannuation product. |
In this example, the member has an account balance of $50,000 invested in the Growth investment option.
Example – Growth option | Balance of $50,000 | |
Administration fees and costs | $1 per week plus 0.19% | For every $50,000 you have in the Retirement Income product, you will be charged or have deducted from your account $95 in administration fees and costs, plus $52 regardless of your balance. |
PLUS investment fees and costs | 0.51% | And, you will be charged or have deducted from your investment $255 each year in investment fees and costs. |
PLUS transaction costs | 0.11% | And, you will be charged or have deducted from your investment $55 each year in transaction costs. |
EQUALS cost of product | $457 | If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $457 for the Retirement Income product. |
In this example, the member has an account balance of $50,000 invested in the Capital Stable investment option.
Example – Capital Stable option | Balance of $50,000 | |
Administration fees and costs | $1 per week plus 0.19% | For every $50,000 you have in the Transition to Retirement Income product, you will be charged or have deducted from your account $95 in administration fees and costs, plus $52 regardless of your balance. |
PLUS investment fees and costs | 0.37% | And, you will be charged or have deducted from your investment $185 each year in investment fees and costs. |
PLUS transaction costs | 0.10% | And, you will be charged or have deducted from your investment $50 each year in transaction costs. |
EQUALS cost of product | $382 | If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $382 for the Transition to Retirement Income product. |
These fees and costs1 help to cover the cost of running the Fund. They will be deducted from your account effective on the last day of each month.
If you are a Catholic Super member:
Plus, any administration costs that are paid from reserves, that are not otherwise charged as administration fees of nil2. These costs are not directly charged to your account but have reduced the reserve balance held by the Fund to cover future administration costs.
For accumulation members, Catholic Super claims a tax deduction on the administration fees and insurance costs we deduct from your account and passes this benefit back to you directly by reducing the amount of tax that is deducted from your account. This means that you receive a 15% refund of your administration fees and insurance costs.
1 If your account balance is less than $6,000 at the end of the income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded to you.
2 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
These fees1, 2 are charged to cover the costs for managing your investments, including any fees paid to external investment managers and custodians, and any applicable performance-related fees. These fees are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.
The estimated investment fees and costs range from 0.04% to 0.63% p.a. (0.51% p.a. for MySuper option), depending on your investment options.
1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
2 Investment fees and costs include an amount of 0.00% to 0.03% (0.02% for MySuper) for estimated performance fees.
Transaction costs1 are incurred when assets are bought and sold. They are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.
The estimated investment fees and costs range from 0.00% to 0.38% p.a. (0.11% p.a. for MySuper option), depending on your investment options.
1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
A buy-sell spread fee is a fee to recover the cost of buying and selling various investments when you change your investment options.
Catholic Super does not charge a buy-sell spread fee to your account.
A switching fee is a fee to recover the costs of switching all or part of your investment options.
Catholic Super does not charge a switching fee to your account.
We offer a range of general advice and educational services, giving members the opportunity to receive general advice about Catholic Super, issues relating to super, investment options, retirement planning, and related matters such as social security and estate planning. These services are offered over the phone, face-to-face, and through seminars and online tools. This is provided at no additional cost.
Members can access personal advice relating to their interest in the Fund through our licensed financial services company, Catholic Super Financial Planning, in limited circumstances. There is generally no cost for this advice although fees may apply if you use this service frequently. You'll be advised if this is to occur.
You can also receive comprehensive advice on a fee-for-service basis, provided by Catholic Super Financial Planning.
Call us for more information.
Insurance fees include the cost of your insurance cover in Catholic Super if you have it. You may have received this cover automatically when you joined, or you may have applied for it.
Catholic Super deducts the cost of your insurance cover from your account on the last day of every month. Your insurance costs are inclusive of insurance premiums and an insurance fee, calculated as 4% of premiums. We pay the premiums to the insurer and retain the insurance fee.
You can find more information relating to the costs of insurance cover in the Insurance in your super guide.
Other fees and costs may apply. You should read all the important information about fees and other costs because it’s important to understand their impact on your investments.
For full details on how they’re calculated and the applicable fees and costs for each investment option, refer to the following documents:
These fees and costs1 help to cover the cost of running the Fund. They will be deducted from your account effective on the last day of each month.
If you are an Catholic Super Retirement Income or Transition to Retirement Income member:
Plus, any administration costs that are paid from reserves, that are not otherwise charged as administration fees of nil2. These costs are not directly charged to your account but have reduced the reserve balance held by the Fund to cover future administration costs.
If you are a Transition to Retirement Income member, Catholic Super claims a tax deduction on the administration fees we deduct from your account and passes this benefit back to you directly by reducing the amount of tax that is deducted from your account. This means that you receive a 15% refund of your administration fees.
1 If your account balance is less than $6,000 at the end of the income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded to you.
2 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
These fees1,2 are charged to cover the costs for managing your investments, including any fees paid to external investment managers and custodians, and any applicable performance-related fees.
These fees are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.
The estimated investment fees and costs range from 0.04% to 0.63% a year depending on your investment options.
1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
2 Investment fees and costs include an amount of 0.00% to 0.03% for estimated performance fees
Transaction costs1 are incurred when assets are bought and sold. They are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.
The estimated investment fees and costs range from 0.00% to 0.38% p.a., depending on your investment options.
1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
A buy-sell spread fee is a fee to recover the cost of buying and selling various investments when you change your investment options.
Catholic Super does not charge a buy-sell spread fee to your account.
A switching fee is a fee to recover the costs of switching all or part of your investment options.
Catholic Super does not charge a switching fee to your account.
We offer a range of general advice and educational services, giving members the opportunity to receive general advice about Catholic Super, issues relating to super, investment options, retirement planning, and related matters such as social security and estate planning. These services are offered over the phone, face-to-face, and through seminars and online tools. This is provided at no additional cost.
Members can access personal advice relating to their interest in the Fund through our licensed financial services company, Catholic Super Financial Planning, in limited circumstances. There is generally no cost for this advice although fees may apply if you use this service frequently. You'll be advised if this is to occur.
You can also receive comprehensive advice on a fee-for-service basis, provided by Catholic Super Financial Planning.
Call us for more information.
Other fees and costs may apply. You should read all the important information about fees and other costs because it’s important to understand their impact on your investments.
For full details on how they’re calculated and the applicable fees and costs for each investment option, refer to the product disclosure statement for your product.
