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Fees & Costs

First Super is run to benefit members. We’re committed to keeping fees competitive, as lower fees and strong investment performance adds up over time to make a big difference to your super balance. Our fee structure applies to both super and pension accounts.

The information below shows fees and other costs that you may be charged as a First Super superannuation member for our accumulation and pension products.

These fees and other costs may be deducted from your money, from the returns on your investment, or from the assets of the superannuation fund as a whole. Other fees, such as activity fees, advice fees and insurance fees may also be charged, but these will depend on the nature of the activity, advice or insurance chosen by you.

You should read all information about fees and other costs because it is important to understand their impact on your investment. You can find this information in the Member Product Disclosure Statements (PDS) for our products.

Fees and costs for First Super (Superannuation account)

Summary of fees and costs

Type of fee or cost Amount How and when paid
Ongoing Annual Fees and Costs1
Administration fees and costs $1.87per week
Plus, 0.18% p.a. of your account balance		 Calculated and deducted from accounts at the end of each month, and paid into the Fund’s administration reserve4.
Plus, 0.02% p.a. of your account balance (estimated*) This is the cost of providing education and intrafund advice to members. It is paid by the Fund and is not deducted from your account.
Investment fees and costs2 Balanced 0.56% p.a. of the option’s assets This is a cost of making investments. It is paid by the Fund and is deducted from the Fund’s gross investment earnings before net earnings are credited to your account balance.
Cash 0.00% p.a. of the option’s assets
Conservative Balanced 0.44% p.a. of the option’s assets
Growth 0.57% p.a. of the option’s assets
Shares Plus 0.60% p.a. of the option’s assets
Transaction costs Balanced 0.13% p.a. of the option’s assets This is a cost of making investments. It is paid by the Fund and is deducted from the Fund’s gross investment earnings before net earnings are credited to your account balance.
Cash 0.02% p.a. of the option’s assets
Conservative Balanced 0.17% p.a. of the option’s assets
Growth 0.09% p.a. of the option’s assets
Shares Plus 0.07% p.a. of the option’s assets
Member Activity Related Fees and Costs
Buy-sell spread Nil Not applicable.
Switching fee Nil for the first two switches each financial year. $30.00 for each subsequent switch. Deducted from your account when the switch is processed.
Other fees and costs3 Various Deducted from your account where applicable.

*These fees are estimates only, based on the latest information available. The fees and costs for subsequent years will vary depending on the actual fees and costs incurred by the Trustee in managing the investment option.

1If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.

2Investment fees and costs include an amount of between 0.00% and 0.02% for performance fees. The calculation basis for this amount is set out under ‘Additional explanation of fees and costs’ set out in the More About First Super PDS.

3Other fees and costs, such as activity fees, advice fees for personal advice, or insurance fees, may apply. Refer to ‘Additional explanation of fees and costs’ set out in the More About First Super PDS.

4Where the cost of operating the Fund is greater or less than the total amount of fees deducted, this difference is applied to the administration reserve. The Fund claims a tax deduction for administration costs each year, which is paid into the administration reserve.

Example of annual fees and costs for the Balanced option

This table gives an example of how the ongoing fees and costs for the Balanced option for this superannuation product can affect your super investment over a 1-year period. You should use this table to compare this superannuation product with other superannuation products.

First Super Balanced (MySuper) option Balance of $50,000
Administration fees and costs $1.87 per week
Plus, 0.18% p.a. of your account balance Plus, 0.02%p.a. of your account balance		 For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $100 in administration fees and costs, plus $97.24 regardless of your balance.
PLUS Investment fees and costs 0.56% p.a. of the option’s assets. And, you will be charged or have deducted from your investment

$280 in investment fees and costs.
PLUS Transaction costs 0.13% p.a. of the option’s assets. And, you will be charged or have deducted from your investment

$65 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 $542.24 for the superannuation product.

Note: Additional fees may apply.

Cost of product

The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your superannuation investment over a 1 year period for all investment options.

It is calculated in the manner shown in the Example of annual fees and costs. The cost of product information assumes a balance of $50,000 at the beginning of the year.

First Super investment options Cost of product
Balanced $542.24
Cash $211.42
Conservative Balanced $500.07
Growth $526.71
Shares Plus $532.91

Additional explanation of fees and costs

Investment fees and costs

Investment fees and costs are expenses that relate to the investment of the assets of First Super. They include base and performance related fees paid to investment managers, management fees charged in investment vehicles, asset consulting fees, bank fees, custodian fees and internal costs related to the management of First Super’s assets.

First Super investment options Investment fees and costs per year
Balanced 0.56%
Cash 0.00%
Conservative Balanced 0.44%
Growth 0.57%
Shares Plus 0.60%

Performance fees

In certain circumstances, First Super agrees, as part of the fees payable to an investment manager, to pay a performance fee. Performance fees are payable to investment managers if they outperform required performance targets.

First Super investment options Average performance fee per year
Balanced 0.02%
Cash 0.00%
Conservative Balanced 0.00%
Growth 0.01%
Shares Plus 0.02%

Transaction costs

Transaction costs are costs associated with the buying and selling of underlying investments and include buy–sell spreads, brokerage, settlement costs (including related custody costs), clearing costs and stamp duty of investment transactions (depending on the nature of the underlying investments or assets).

First Super investment options Transaction costs per year
Balanced 0.13%
Cash 0.02%
Conservative Balanced 0.17%
Growth 0.09%
Shares Plus 0.07%

Activity fees

Activity fees that may apply to your account include advice fees, insurance fees and family law fees. The type and amount of these fees will depend on the activities you undertake. Please read the Member PDS for further information about these fees.

Fees and costs for First Super (TTR and Retirement Income account)

Summary of fees and costs

Type of fee Amount How and when paid
Ongoing Annual Fees and Costs1
Administration fees and costs 0.38% p.a. of your account balance, capped at $1,750 p.a. Calculated and deducted from accounts at the end of each month based on average account balances during the month, and paid into the Fund’s administration reserve4. This fee is capped at $1,750 p.a.
Plus, 0.02% p.a. of your account balance This is the cost of providing education and intrafund advice to members. It is paid by the Fund and is not deducted from your account(s).
Investment fees and costs2 Balanced 0.57% p.a. of the option’s assets This is a cost of making investments. It is paid by the Fund and is deducted from the Fund’s gross investment earnings before net earnings are credited to your account balance.
Cash 0.00% p.a. of the option’s assets
Conservative Balanced 0.44% p.a. of the option’s assets
Growth 0.57% p.a. of the option’s assets
Shares Plus 0.60% p.a. of the option’s assets
Transaction costs Balanced 0.14% p.a. of the option’s assets This is a cost of making investments. It is paid by the Fund and is deducted from the Fund’s gross investment earnings before net earnings are credited to your account balance.
Cash 0.02% p.a. of the option’s assets
Conservative Balanced 0.17% p.a. of the option’s assets
Growth 0.09% p.a. of the option’s assets
Shares Plus 0.07% p.a. of the option’s assets
Member Activity Related Fees and Costs
Buy-sell spread Nil Not applicable.
Switching fee Nil for the first two switches each financial year. $30 for each subsequent switch. Deducted from your account when the switch is processed.
Other fees and costs3 Various Deducted from your account where applicable.

1If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.

2Investment fees and costs include an amount of between 0.00% and 0.02% for performance fees. The calculation basis for this amount is set out under ‘Additional explanation of fees and costs’ set out in Your Retirement Income PDS.

3Other fees and costs, such as activity fees and advice fees for personal advice may apply. Refer to ‘Additional explanation of fees and costs’ set out in Your Retirement Income PDS.

4 Where the cost of operating the Fund is greater or less than the total amount of fees deducted, this difference is applied to the administration reserve. The Fund claims a tax deduction for administration costs each year, which is paid into the administration reserve.

Example of annual fees and costs for the Balanced option

This table gives an example of how the ongoing fees and costs for the Balanced option for this superannuation product can affect your super investment over a 1-year period. You should use this table to compare this superannuation product with other superannuation products.

First Super Balanced option Balance of $50,000
Administration fees and costs 0.38% p.a. of your account balance (subject to a cap of $1,750 p.a.)
Plus, 0.02% p.a. of your account balance		 For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $200 in administration fees and costs.
PLUS Investment fees and costs 0.57% p.a. of the option’s assets. And, you will be charged or have deducted from your investment
$285 in investment fees and costs.
PLUS Transaction costs 0.14% p.a. of the option’s assets. And, you will be charged or have deducted from your investment

$70 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 $555 for the superannuation product.

Note: Additional fees may apply.

Cost of product

The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your superannuation investment over a 1-year period for all investment options.

It is calculated in the manner shown in the Example of annual fees and costs. The cost of product information assumes a balance of $50,000 at the beginning of the year.

First Super investment options Cost of product
Balanced $555
Cash $210
Conservative Balanced $505
Growth $530
Shares Plus $535

Additional explanation of fees and costs

Investment fees and costs

Investment fees and costs are expenses that relate to the investment of the assets of First Super. They include base and performance related fees paid to investment managers, management fees charged in investment vehicles, asset consulting fees, bank fees, custodian fees and internal costs related to the management of First Super’s assets.

First Super investment options Investment fees and costs per year
Balanced 0.56%
Cash 0.00%
Conservative Balanced 0.44%
Growth 0.57%
Shares Plus 0.60%

Performance fees

In certain circumstances, First Super agrees, as part of the fees payable to an investment manager, to pay a performance fee. Performance fees are payable to investment managers if they outperform required performance targets.

First Super investment options Average performance fee per year
Balanced 0.01%
Cash 0.00%
Conservative Balanced 0.00%
Growth 0.01%
Shares Plus 0.02%

Transaction costs

Transaction costs are costs associated with the buying and selling of underlying investments and include buy–sell spreads, brokerage, settlement costs (including related custody costs), clearing costs and stamp duty of investment transactions (depending on the nature of the underlying investments or assets).

First Super investment options Transaction costs per year
Balanced 0.14%
Cash 0.02%
Conservative Balanced 0.17%
Growth 0.09%
Shares Plus 0.07%

Activity fees

Activity fees that may apply to your account include advice fees and family law fees. The type and amount of these fees will depend on the activities you undertake. Please read Your Retirement Income PDS for further information about these fees.