Super fees search
If you have the name of one or more super funds then you may be able to find out information about some of the fees they charge by using this search facility. This can help you to compare the fees between different super funds.
There are limitations to the information provided here. You should read about these before you use this search facility. Also, you should always:
- check the Product Disclosure Statement (PDS) for the fund you are looking at (or annual report if the fund is closed to new members) and
- use the FIDO super calculator in addition to this search facility.
Why compare fees?
Differences in the fees charged by super funds can have a big effect on what you may have to retire on. For example, if you pay an extra 1% each year in fees, you could lose up to 20% from your retirement benefit over 30 years.
Why you should always use the FIDO super calculator in addition to this search facility
Because of the limitations of this search facility, you should not rely on it alone when you are comparing the fees between different super funds.
The best way to calculate the impact of fees on your retirement savings over the long term is to use FIDO's super calculator. This is because the calculator will take account of all the different fees and costs that you will pay and is based on your actual super balance and how much you think you will contribute. To use the FIDO super calculator:
- get a copy of the Product Disclosure Statement for the super fund(s) that you are interested in
- look up the fees that will apply to you and make a note of the figures – when using the ASIC fee search database to get the cost of fund, include the highest figure from the cost of fund range.
- enter the figures into the FIDO super calculator to see the impact on your actual situation over the long term.
What else should you consider?
Remember that fees are not the only important thing to consider when comparing different super funds. To choose the fund which best suits your needs, you need to consider:
To help you compare super funds, use FIDO's super fund comparison worksheet.
| Before you start searching read: |  |
|
|
|
Important information about the scope and limitations of this search facility
- This list only has some of the fee information that is required to be contained in a super fund's PDS. For full information about the fund and all its fees and costs, you should refer to the PDS.
- This list does not contain fee information for all super funds or all types of super funds. The list does not contain fee information about:
- self-managed superannuation funds
- funds with less than 5 members
- superannuation funds that have no investment component
This information is taken from PDS for funds that are open to new members. If your fund is not open to new members, then the fees for your fund will not be shown on this website.
- If you are a member of your employer's super fund, you may be a member of a 'sub-plan'. A 'sub-plan' is a super fund that sits under the umbrella of a larger super fund, but is only open to the employees of one employer. Some of the larger super funds have a great number of sub-plans, all of which have slightly different fee structures. This search facility only shows the highest and lowest fees that apply across all the sub-plans within a larger fund. This means that the fees for your particular sub-plan will be within this range, but we cannot show you the exact fees that apply to your sub-plan. Because of this, you will need to obtain the PDS that applies to your particular sub-plan if you want specific fee information that applies only to your sub-plan.
- Within one super fund, there may be many different investment options you can choose from. The fund may charge a different fee for different options. This search facility does not give details of the fee information for every investment option offered, but only provides information about the fees that apply to the balanced (or similar investment option) contained in your fund. You should always look at the PDS of the fund(s) you are considering and work out the fees that will apply to the particular investment option you are considering. Use the FIDO super calculator to see the impact of those fees over the long term.
- Trustees of super funds are required to lodge with us a PDS in-use notice whenever a PDS is updated. Among other things, this notice includes summary information concerning the fees charged by the fund and the information is then entered on this search facility. ASIC relies on the information provided by trustees and does not review the PDS for each fund.
How to search
Search for one super fund
- Click GO in the box at the end of this page
- Enter
- the 'brand name' of the super fund (this is the name, including acronyms, that is commonly used in the advertising or branding of the super fund, and the name that you will most commonly know it by, for example, AMP, REST, MLC, Virgin, HESTA etc); or
- the trustee ABN or the SPIN, that is the Superannuation Product Identification Number or
- one or two words from the fund or trustees name.
- Click Search
Display all funds in the database
They will be listed in alphabetical order by brand name.
- Click GO in the box at the end of this page
- On the main search page, click Display All
What the search results show
The results are based on information supplied to us by the trustees. The 'Cost of Fund' shows the dollar value range of contribution fees plus management costs that the fund charges in one year. These are the most significant ongoing costs of being in the fund.
You need to refer to the PDS to get full information about the total cost to you of being in the fund, including the cost of insurance cover. Use FIDO super calculator to work out the effect of all the fees and costs that you will pay.
Contribution fees
Contribution fees are charged on the initial, and every subsequent investment you make to the fund (or that may be made on your behalf, for example by your employer). Not all funds charge contribution fees, which are generally shown as a percentage range, for example, 0%-4%.
| TIP! | You may be able negotiate these fees with your adviser and therefore reduce the total fees that you pay.
|
Management costs
Management costs can be charged as a percentage and/or a flat dollar amount (for example, $52 per year). These fees may be taken out of your account balance, from the returns on your investment or from the fund assets as a whole. Read the PDS to find out how and when they are paid.
Different investment options have different management costs. Low-growth management strategies usually cost less than high-growth strategies but may give you less when you retire. Refer to the PDS to find out the actual management costs for the investment option that suits your needs.
Fee calculation base
The 'Cost of Fund' information provided by trustees generally assumes a fund account balance of $50,000 and annual contributions to the fund of $5,000. (For funds that require a minimum account balance greater than $50,000, the fee information is based on a higher account balance.) Because the 'Cost of Fund' is a guide only, use the FIDO super calculator to consider the impact of fees and costs on your own financial situation.
Other fee information
When you click on 'More details' from the search results page, there is additional information about the following fees that might apply to the fund:
- Establishment fee: for setting up your account in the fund
- Termination fee: for closing your account with the fund
- Withdrawal fee: for each withdrawal you make from the fund (including any instalment payments and your final payment).
Again, these do not represent all of the additional fees and costs of being in the fund. Make sure you read the PDS to find out what these are.
Important notice
The date that the fund trustees supplied the information is shown at the top of the search results. ASIC has sought to present the fee information in the form in which it was received by ASIC. ASIC has not sought to verify, and cannot guarantee, the accuracy or currency of that information. Persons seeking to invest in any superannuation fund should make their own inquiries into the fees and costs charged by the fund, including, where necessary, by reference to the fund's PDS.
The fee information contained here has been reproduced from information supplied by trustees. ASIC expressly disclaims all liability arising from the publication of that information or from any use of this facility. Users should make their own enquiries to verify the information including referring to the relevant fund's PDS.
Considerations apart from fees may be relevant to a decision about what superannuation fund is suitable for a particular person, including their personal circumstances. The information on this facility does not take into account the personal circumstances of any individual. A person seeking to make a decision with respect to a superannuation fund should consider seeking advice from a licensed adviser.
| Search for super fees now | |
More information about types of fees
Lots more information about superannuation for consumers
Information for superannuation trustees
Notify ASIC using form FS88 PDS in-use notice when a copy of a PDS is first used.
When a change is made to the fees and charges set out in a PDS (or existing Supplementary PDS), notify ASIC using form FS89 Notice of change to fees and charges in a PDS.
The latest in-use notice asks for superannuation fee data.
FIDO Website: Printed 07/31/2010
