Superannuation products—Example of annual fees and costs for a MySuper product
211 Superannuation products—Example of annual fees and costs for a MySuper product
This table gives an example of how the fees and costs for the generic MySuper product for this superannuation product can affect your superannuation investment over a 1 year period. You should use this table to compare this superannuation product with other superannuation products.
EXAMPLE—‑MySuper product | BALANCE OF $50 000 | |
Investment fees | 1.6% | For every $50 000 you have in the MySuper product you will be charged $800 each year |
PLUS Administration fees | $52 ($1 per week) | And, you will be charged $52 in administration fees regardless of your balance |
PLUS Indirect costs for the MySuper product | 1.2% | And, indirect costs of $600 each year will be deducted from your investment |
EQUALS Cost of product |
| If your balance was $50 000, then for that year you will be charged fees of $1 452 for the MySuper product.
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Additional fees may apply.
This Act’s bill:Explanatory statement
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