Fees & Charges – Pension
Christian Super’s Pension products have a competitive fee structure. You pay an administration fee of $83 per year ($1.60 per week) plus the Expense Recovery Fee of 0.2% pa of assets. An investment fee is deducted from the regular calculation of gross investment returns, depending on your chosen investment option, ranging from 0.35% – 0.8% pa.
No fees are charged for regular pension payments, although if you withdraw a lump sum, a payment fee of $52 is applied. A breakdown of the fees is shown below.
|TYPE OF FEE OR COST||AMOUNT||HOW AND WHEN PAID|
|Administration fee||$83.20 p.a. ($1.60 per week) plus 0.2% expense recovery fee||Deducted from account balance each month|
|Exit fee||$52||Deducted from balance when a lump-sum withdrawal occurs. No fee is paid for regular pension payments.|
|Advice fee||Full financial planning is available by contacting our Member Care Centre. Fees, if applicable, are determined between you and the adviser.||You may arrange with your personal financial 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.|
|Indirect Cost Ratio||0.35-0.8%, depending on your investment option||Deducted from gross investment returns, and do not appear as a transaction on your account statement|
A fee that relates to the cost incurred by the Trustee in the administration and operation of Christian Super.
A fee that relates to the cost incurred by the Trustee in the investment of the assets of Christian Super, including fees in payment for the exercise of care and expertise in the investment of those assets.
A fee to recover transaction costs incurred by the Trustee in relation to the sale and purchase of assets.
A fee to recover the costs incurred by the Trustee in switching all or part of a member’s interest from one one investment option to another.
A fee to recover the costs incurred by the Trustee in disposing of all or part of members’ interests in a superannuation entity.
A fee directly related to the costs incurred by the Trustee in providing advice to a member.
Indirect cost ratio
Any amount that the Trustee knows will indirectly reduce the return on a member’s investment that is not charged to the member as a fee. It is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the superannuation entity attributed to the MySuper product or investment option.
These range from 0.35% – 0.8%, depending on your investment option.
Other important information
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% p.a.) may apply if managers meet or exceed their targets. Such fees, if applicable, are deducted from gross investment returns.
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.
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 Pension 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.