Account fees & costsPrint
Fees and costs applied to AUSfund super accounts
At AUSfund, we take care of your lost and unclaimed super (more about AUSfund) until we can reunite you with it.
While your super is with us, the following fees apply to your account:
- Administration Fee: $14 annually is deducted from your account.
- Trustee Operational Costs*: 0.2% - 2% ($5 - $20 per $1,000) is deducted from gross fund returns prior to setting crediting rates. This includes costs associated with reuniting people with their lost or unclaimed super and Trustee operational costs.
- Investment Costs*: 0.2% - 1.0% ($2 - $10 per $1,000) is deducted from gross fund returns prior to setting crediting rates. This includes fees paid to investment managers, custodians, asset consultants and bank fees.
AUSfund does not charge entry or exit fees. Since 1 January 2014, AUSfund has not been able to accept employer or member contribution (other than a transfer of a lost and inactive superannuation account.)
Read more about fees & other costs in the Product Disclosure Statement
Protecting your account
In accordance with superannuation law prior to 30 June 2013, all our super accounts were protected under the 'member protection rules'. However, member protection has been removed from superannuation legislation. As a result, members' accounts may be eroded by the application of the $14 Administration Fee.
*These costs are estimated amounts based on the indirect cost ratio for the fund, which is the ratio of the fund's management costs that are not deducted directly from a member's or product holder's account, to the fund's total average net assets for the financial year ending 30 June. These costs may vary without prior notice or without members' consent. In the year ended 30 June 2014, the Trustee's Operational Costs were -(0.23%), as the Administration Fee more than covered AUSfund's administration costs. Investment Costs were 0.31% for the same period. The Indirect Cost Ratio for the year was 0.08%. If you had an account balance of $50,000 during the 2013/2014 financial year, the total fees you would have paid would have been $14.00 plus $40.00 = $54.00.