Significant Event Notice – Changes to Fees from 1 July 2019

Significant Event Notice: Changes to Fees from 1 July 2019

We have recently concluded a comprehensive review of our product suite and are pleased to announce that we will be decreasing the overall fees collected from members. This is a great outcome for members and is a direct result of the strong growth we have experienced as a fund.

This review incorporates a number of important changes in the way superannuation funds are administered that were recently introduced by the Federal Government (Protecting Your Super Package Act 2019) and includes a number of changes to the way fees are charged.

The below table outlines the changes being made.

(Effective 1 July 2019)
Fixed Administration Fee Decreased to $1.25 per week.
Variable Administration


Increased to 0.27% of your account balance (capped at $1,346 p.a.).
Exit Fee Nil – We no longer charge a fee to withdraw your benefit.
New Fee Cap A 3% fee cap will be applied to members with an account balance below $6,000. This cap applies to all administration and investment fees but excludes insurance costs.
Investment Fee &

Indirect Cost Ratio

There have been a number of changes to these fees. This will vary depending on your investment option/s. Please refer to the FAQs on our website at

While different from member to member, these changes represent a fee reduction for about 85% of members.What does this mean for me?
The new fee structure will have different impacts for different members depending on each individual’s investment option and account balance. However, for a member in our default My Ethical Super option with a $50,000 account balance, the following table shows the annual difference between the old structure and the new one.

Fee Type Old Cost New Cost Difference
Fixed Administration Fee $91 $65 -$26
Variable Administration Fee $100 $135 +$35
Investment Fee & Indirect Costs $520 $500 -$20
Total Fee $711 $700 -$11

Why did the fees change?
We are regularly reviewing the balance between excellent member services and fee-based account erosion. At times this leads to changes in our service delivery and/or fee structures. In this instance we have generally sought to maintain the current overall service levels and fee mix and are pleased to advise that we have been able to provide the decrease in overall fees without reducing the level of service provided.

As a fund we believe it’s important to be transparent with our fee structures (avoiding complex and often at times hidden fee tactics). This is why we have avoided complex fees like buy/sell spreads and are removing our exit fee.

Other product changes
We are regularly looking for ways to improve the outcomes achieved by members and at times this means we will offer more individually tailored options. In line with this, we are in the process of introducing a range of new investment options to better meet the various needs of our increasingly diverse membership. This includes the introduction of our first ever Ethical Index Share option, allowing members to invest in line with their beliefs in a low-cost index-aligned way. More information on these new options will be provided shortly.

Similarly, over the past year our team has been working with you to collect more accurate occupational information allowing us to reduce the total amount of premium paid to our insurer by over 20% over the last two years. This is another example of how we continue to work to build your retirement savings.

What do I need to do?
No action is required. If you have any questions, please contact our Member Care Team on 1300 360 907.

Thank you for your continued support of Christian Super as we help you reach and live out a purposeful retirement.


Nathan Buttigieg
Chief Member Officer