Summary
Super fees explained simply
As Australia's largest super fund2, we use our size and scale to help keep admin fees low so more of your super can be invested to grow1.
The two main types of fees are for administration and investment. If you don’t have any insurance cover with us, or don’t receive any paid advice, you won’t pay those fees.
The different types of super fees
Helping deliver a better future for members is all about putting them first and helping grow their super for the future. One way AustralianSuper does this is by using our size and scale to keep our admin fees low. This means our admin fees are 29% lower on average1 - so more of your super can be invested to grow.
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Administration
Administration fees consist of a flat administration fee plus an asset-based administration fee which are deducted directly from your account each month.
Investment
Investment fees and costs are charged to cover our costs of managing your investments including external investment management fees and performance fees, deducted from pre-tax investment returns and reflected in the daily crediting rate.
Transaction
Transaction costs are incurred when buying and selling underlying investments for the Premixed and DIY Mix investment options. You can choose your own investment option. They are deducted from investment returns and reflected in the daily crediting rate.
Brokerage
When trading shares, ETFs and LICs for our Member Direct investment option, Brokerage fees will apply on each trade, are deducted directly from your Member Direct Cash account when trades are settled.
Insurance
Insurance costs will apply if you have insurance cover and depend on the level/amount of cover you have, your age, and the type of work you do. The easiest way to calculate these costs is with our Insurance Calculator, or if you’re a member you can log into your account and view your insurance costs. Insurance cover is not available in Choice Income and TTR Income accounts.
Advice
If you received personal financial advice you may be charged a fee which would be outlined before any work is completed and is subject to your agreement.3 For most over-the-phone advice about your AustralianSuper account, there’s no additional cost, as it’s included in your membership and covered by the administration fees you pay. There are fees for phone advice about transition to retirement or starting a pension account. There is also an agreed fee with an adviser for personal advice, outside of over the phone advice.
Other fees and costs may apply. You should read all the important information about fees and other costs because it is important to understand their impact on your investment.
Select a super balance
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Important information
*Source: Zenith CW Pty Ltd (Chant West) (ABN 20 639 121 403). Chant West Super Fund Fee Survey June 2024. Survey compares the weighted average of administration, investment and transaction fees and costs for MySuper products. Fees for average super funds includes Retail (Master Trust), Industry, Corporate and Public Sector type funds in the Chant West Super Fund Fee Survey. Total fees are rounded to the nearest $1. Fees may change in the future which may affect the outcome of this comparison.
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Fees and Costs Guide
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How we keep fees low
At AustralianSuper, our goal is to help you grow your super by delivering strong long-term investment performance4. AustralianSuper is a profit-for-member fund, this means profit we make is for members not shareholders.
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Did you know small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns? For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30-year period (for example, reduce it from $100,000 to $80,000).
Benefit from our size
As Australia’s largest super fund2, we use our size and scale to help keep admin fees low1.
Profit for members
AustralianSuper is a profit-for-member fund, we don't pay profits or dividends to shareholders. This means the profits go back into the fund for the benefit of members.
Strong long-term returns4
The Balanced option has delivered an average of 8.19% over the last 10 years, 7.91% over the last 20 years and 9.28% since inception (August 1985) to 30 September 20245.
Size and scale
We’re Australia’s largest super fund2, and one of the top 20 pension funds globally6. We use our size, investment capability and global reach to access opportunities that may not be available to smaller funds.
AustralianSuper manages over $341 billion on behalf of over 3.4 million members as at 30 June 2024.
How do lower fees make a difference?
Lower fees mean more of your balance stays invested, where it could continue to grow for the retirement lifestyle you want.
Comparatively, other funds with higher fees can eat into your super savings over time - meaning you could have less money at retirement.
Scroll down to see the difference our fees could make.
Other things to consider
You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs.
Example fees and costs
This is an example of the ongoing fees and costs you might expect to pay for the AustralianSuper MySuper Balanced investment option.
*Additional fees may apply. Assumes your balance of $50,000 is maintained throughout the year. You will receive a tax benefit of $15.30 on the administration fees shown above which will reduce the cost of product for the year after tax benefits to $371.70.Example – AustralianSuper MySuper Balanced investment option Balance of $50,000 option Administration fees and costs
0.10%
plus
$52 ($1 per week)For every $50,000 you have in the superannuation product, you will be charged $50 in administration fees and costs plus you will be charged $52 regardless of your account balance
PLUS
Investment fees and costs0.52%
AND, you will have deducted from your investment $260 in investment fees and costs.
PLUS
Transaction cost0.05%
AND, you will have deducted from your investment $25 in transaction costs.
EQUALS
Cost of product*If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $387 for the superannuation product.
How AustralianSuper Compares, based on $250,000 Balance1.
See how our fees compare to the average super fund below, based on a $250,000 balance1.
1Source: Zenith CW Pty Ltd (Chant West) (ABN 20 639 121 403). Chant West Super Fund Fee Survey June 2024. Survey compares the weighted average of administration, investment and transaction fees and costs for MySuper products. Fees for average super funds includes Retail (Master Trust), Industry, Corporate and Public Sector type funds in the Chant West Super Fund Fee Survey. Total fees are rounded to the nearest $1. Fees may change in the future which may affect the outcome of this comparison.
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Important Information
- Zenith CW Pty Ltd (Chant West) (ABN 20 639 121 403). Chant West Super Fund Fee Survey June 2024. Survey compares the weighted average of administration fees and costs for MySuper products for a $50,000 balance. 29% equates to $40.95 over 1 year. Other fees and costs apply. Fees may change in the future which may affect the outcome of this comparison.
- APRA Annual fund-level superannuation statistics, March 2024 (released June 2024).
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Fees may apply.
- AustralianSuper Balanced investment option compared to the SuperRatings Fund Crediting Rate Survey - SR50 Balanced (60–76) Index to 30 September 2024. Investment returns aren’t guaranteed. Past performance isn’t a reliable indicator of future returns. Returns from equivalent investment options of the ARF and STA super funds are used for periods before 1 July 2006.
- AustralianSuper investment returns are based on crediting rates, which are returns less investment fees and costs, transaction costs, the percentage-based administration fee deducted from returns from 1 April 2020 to 2 September 2022 and taxes. Returns don’t include all administration, insurance and other fees and costs that are deducted from account balances. Returns from equivalent investment options of the ARF and STA super funds are used for periods before 1 July 2006. Investment returns aren’t guaranteed. Past performance isn’t a reliable indicator of future returns.
- Thinking Ahead Institute, Global top 300 pension funds study, September 2024.