| TYPE OF FEE OR COST | AMOUNT | HOW AND WHEN PAID | |
|---|---|---|---|
| Fees when your money moves in or out of the Fund | Establishment Fee |
nil | - |
Contribution Fee |
nil | - | |
Withdrawal Fee |
$52 | The fee is deducted from your account at the time of a payment | |
Termination Fee |
nil | - | |
| Management Costs | The fees and costs for managing your investment The amount your pay for specific investment options |
Administration fees plus Expense recovery fees plus Investment fees |
|
| Service Fees^ | Investment switching fee |
nil | - |
Additional explanation of fees & costs
Taxation
Christian Super is required to deduct tax from your account in certain circumstances. These amounts are deducted from your account as they are charged to the Fund, and are explained in further detail in our PDS.
Adviser Service fees
You may arrange with your nominated adviser to have your fees deducted from your Christian Super account, where such fees relate to advice given in relation to your superannuation or retirement. The amount and timing of such deductions will be authorised by you.
Transactional and operational costs
In operating the Fund’s investments, transactional and operational costs are incurred. These costs are either deducted from investment returns before they are credited, or included in the management costs.
Performance based investment fees
The Fund has agreed certain targets with some investment managers that exceed the stated objectives for the Fund’s investment options. A performance based fee (generally not exceeding 0.3% pa) would apply if managers meet or exceed their targets. Such fees are deducted from gross investment returns.
Insurance costs
Christian Super deducts premiums from your account on a weekly basis, for any Insurance cover you may have in the Fund. Further details may be found in the insurance section. Five percent of the premiums deducted are retained by the Fund as a policy management fee, for example if your annual premium was $52, the policy management fee included in this premium would be $2.60.
Family Law fees
Christian Super charges the following fees in relation to Family Law matters:
- Application for Information – Nil
- Splitting a benefit - $165, or $440 if validation by the Trustee is required. This is in addition to the standard $52 benefit payment fee.
- Flagging a benefit – Nil
These fees are generally deducted equally between the parties at the time of the split by reducing the benefit entitlement of each party.
Changes in fees and costs
The Trustee may review the stated fees and costs at any time. If significant fees are to increase (other than with inflation) you will receive at least 30 days’ notice. Any changes may be advised to members through our PDS, Annual Report, newsletters or the Fund’s website.
