Click here to see our Fees and Charges fact sheet.
Christian Super is a profit-to-member superannuation fund. The fees and costs you pay cover the operating expenses of the fund – all profits are returned to our members. The following explains what fees and other costs you will pay as a member of Christian Super, and where they are deducted from. This may be from your account balance, from the Fund’s investment returns or from the Fund’s assets as a whole.
Table of Fees and Charges
|Type of fee or cost||Amount||How and when paid|
|Investment fee||0.16 – 0.39%||Deducted from gross investment returns, and do not appear as a transaction on your statement.|
|Administration fee||$65 p.a. ($1.25 per week) plus 0.30% p.a. of your account balance (capped at $1,500 p.a.)†||Deducted from your account balance each month.|
|Advice fee||Free financial advice
Full financial advice
|Free over-the-phone general advice from our Member Care Team and via SmartAdvice in the MemberAccess section of our website.
Full financial advice as per Statement of Advice.
|Other fees and costs||Refer to the Additional Explanation section of the Fees and Charges document|
|Indirect Cost Ratio||0.00 – 0.54%*||Deducted from gross investment returns, and do not appear as a transaction on your statement.|
† This cap is valid for 2021/22 financial year but indexed each year.
* This includes an estimate of performance fees, which may vary from year to year. If your account balance is less than $6,000 at the end of the financial year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. Any amount charged in excess of that cap will be refunded after the end of the financial year.
Example of Fees & Costs
This table gives an example of how the fees and costs in the My Ethical Super investment option can affect your superannuation investment over a one year period. You should use this table to compare this product with other superannuation products.
|Type of fee or cost||Amount||How and when paid|
|Investment fee||0.27%||For every $50 000 you have in the MySuper product you will be charged $135 each year|
|Plus Administration fee||$1.25 per week plus 0.30% p.a. of your account balance||And, $65 in administration fees regardless of your balance plus $150.|
|Plus Indirect costs for My Ethical Super||0.52%||And further indirect costs of $260 each year will be deducted from your investment.|
|Equals cost of product||If your balance was $50,000 then for that year you would be charged $610.|
Administration fee – Fees and costs relating to the administration or operation of Christian Super.
Investment fee – Fees and costs relating to the investment of your assets, including performance fees.
Advice fee – Fee relating to the provision of financial advice to a member by Christian Super, or by another person under an arrangement with Christian Super.
Switching fee – Fee to recover costs of switching between investment options.
Buy-sell spread – Costs incurred relating to the sale and purchase of assets.
Indirect cost ratio – The ratio of the total indirect costs for the investment option, to the total average net assets of Christian Super attributed to the investment option.
Additional Explanation of Fees & Costs
In operating the Fund’s investments, we will also incur implicit transaction costs, property operating costs and borrowing costs. These are all necessary costs to enable a return to be gained on certain investments, and are charged by our external investment managers rather than by the Fund itself. They are estimated based on the best information available to the Fund, ranging from 0.00% – 0.19% depending on your investment option and varying year to year. These are already deducted from investment returns before credited to members, and are not charged as a separate fee.
Performance based investment fees
The Fund has agreed certain performance targets with some investment managers that exceed the stated objectives for the Fund’s investment options. Where applicable, a performance based fee will apply if the investment manager meets or exceeds their target. Such fees are deducted from gross investment returns and are included in the Indirect Cost Ratio.
Christian Super deducts premiums from your account on a monthly basis, for any insurance cover you may have in the Fund. A portion of collected premiums remain with Christian Super to cover the internal costs associated with the administration of the insurance products. For further information, please read the Insurance Guide.
Adviser service fees
You may arrange with your nominated adviser to have advice fees deducted from your Christian Super account, where
such fees relate to advice that has a direct, reasonable, and transparent connection to your interest in Christian Super. The amount and timing of such deductions will be authorised by you. Free advice and details of full financial planning advice (fees may apply) are available through the Member Care Team.
Christian Super is able to claim a tax deduction for certain costs of operating the Fund. The benefit of these deductions is retained in the Fund for the benefit of the whole membership.
Changes in fees and costs
The Trustee may review the stated fees and costs at any time. If 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.
Cooling off period
If you joined Christian Super through your employer, you have a 14 day cooling off period. If you make your own application to Christian Super, you may notify the Trustee within 14 days of receiving confirmation of your membership that you wish to cancel. Notice of cancellation must be in writing, with details of the superannuation fund to which payment is to be made. The amount of the payment will be adjusted for investment earnings (gains/losses) while the money has been with Christian Super.
Administration fees, investment fees and indirect costs are equivalent to those listed above. More information can be found in the Pension Guide.
Please note that the information contained on this website is a summary and general in nature. It does not take into account any personal objectives, financial situation or specific needs of individual members. We strongly recommend that you refer to our Product Disclosure Statement (PDS) and Fees and Charges Guide for the full terms and conditions, and obtain professional financial advice to determine the appropriateness of the information, taking into account your own personal circumstances.